Category: News

Comprehensive, up-to-date news coverage, aggregated from sources all over the world by EduindexNews.

IS YOUR CHARECTER REFLECTED IN THE WAY YOU DRESS?

Why do we chose to buy or to wear the clothes we have? Is the intention to be attractive? Revealing? Modest? I always wonder why a lady would like to appear to be sexy. I what is her intention? It applies for men too……. I believe that what we wear is a true refection of the heart. When you go shopping, you only buy what you like, and when you wear it, you advertise the fact. So you show off your personality and reveal your character to those who see you. Does it make sense!?

The choice of your clothing speaks louder than the talk. The motives of one’s charecter are always judged by what they wear. People will always judge you by the looks. If you present yourself in cheap clothing, the thing that will be remembered is this and not your goodness or character.

Though we have the freedom to dress anyway we please, I do believe that our clothes reflect our character and hence we should be careful.

But if we think from another perspective, we miss out on many opportunities by judging by appearance only. This happens a lot of times. Dressing varies from land to land do judging personality based on dressing would be inappropriate. True Charecter I’d reflected is how we behave and not in how we dress.

In my opinion, in the case of a few, we can judge them by their looks while in some other cases, we cannot do like that. To be sure, dressing is your choice. Wear what you like, but only decent ones.

Power outage

A power outage (also called a power cut, a power out, a power blackout,  power failureor a blackout) is the loss of the electrical power network supply to an end user.

There are many causes of power failures in an electricity network. Examples of these causes include faults at power stations, damage to electric transmission lines, substations or other parts of the distribution system, a short circuit, cascading failure, fuse or circuit breakeroperation.

Power failures are particularly critical at sites where the environment and public safety are at risk. Institutions such as hospitals, sewage treatment plants, and mines will usually have backup power sources such as standby generators, which will automatically start up when electrical power is lost. Other critical systems, such as telecommunication, are also required to have emergency power. The battery room of a telephone exchange usually has arrays of lead–acid batteries for backup and also a socket for connecting a generator during extended periods of outage.

MUGHAL ARCHITECTURE PART I

Features of Mughal architecture :

Elaborate calligraphy designs on the walls of the monument.

Charbagh design architecture: gardens at four sides of the monument.

Jail work and arabesque design. Contributed by Pietra dura.

Foresighting technique- Qufi has written on monuments that appear the same from every angle.

Mughal architecture is too called INDO- ISLAMIC ARCHITECTURE.

It has a Rajput and Sikhs influence also.  Focus had been made on the construction of the mosque, tomb, and fort architecture.

Architecture becomes complex, the use of white marble is huge.  An autobiography of Babur he described his interest in planning and laying out formal gardens, placed within rectangular walled enclosed and divided into four quarter artificial channels.

These gardens were called Chahar bagh, four gardens as their symmetrical division into quarters.

There were several architecture innovations during Akbar’s region, construction with red sandstone, edged with white marble accelerated. The creation of large empires brought different regions under their rule heped in the cross-fertilisation of artistic forms and styles.

For example in Vrindavan near Mathura temples were constructed in architectural styles that were very similar to Mughal places in Fatehpur Sikri. Mughal rulers were particularly skilled in adapting regional architecture styles in the construction of their buildings.

In Bengal, too local rulers had developed a roof that was designed to resemble a thatched hut. Mughal liked this ‘BANGLA DOME’ and adopted it in their monuments.

Babur the first ruler can not contribute much to architecture as he ruled for only four years and he continuously fights for survival.

The mosque at Panipat and Rohikhand is the most famous one.  Babur’s tomb in Afganistan also had char bagh architecture.

INFLATION SHOOTS UP !

I WAS DRINKING COFFE IN THE MORNING WHILE GOING THROUGH THE NEWSPAPER WITH A PLEASANT WEATHER AROUND. BUT , THE NEWS INSIDE IT WAS NOT AT ALL PLEASANT , WE ARE WELL AWARE OF THE ECONOMIC DOWNTURN ,WE ARE FACING. THE SCHOLARS HAVE ALEARDY PREDICTED , IT’S GONNA BE WORSE FOR THE WHOLE WORLD ESPECIALLY FOR INDIA ; AS SHE IS GOING TO FACE THE WORST OF WORST SCENARIOS , GDP IS GOING TO BE AT THE LOWEST , MORE THAN THE YEAR 1947. IT WAS WRITTEN IN THE HEADLINE ‘ INFLATION ACCELARATES TO 6.93% DIMMING CHANCES OF A RATE CUT ‘ , WE HAVE WITNESSED THE VARIATIONS IN THE INFLATION THIS YEAR , HOW IT HAS BECOME AN ICEBERG IN OUR PATH ! . THE INTREST RATES CAN’T BE FURTHER REDUCED AS SAID BY THE RESERVE BANK OF INDIA , THERE IS A LIMMIT TO CUT THE INTRESTS RATES , WE CAN’T MOVE BEYOND THAT LINE.

INDIA ‘s RETAIL INFLATION HAS SHOOT TO THE HUGE PERCENTAGE OF 6.93% , WHICH IS MAJIORILY DUE TO THE RISE IN THE PRICES OF FOOD , WHICH IS TERMED AS FOOD INFLATION . THIS MONSTER HAS GONE BEYOND THE MEDIUM TARGET OF RESERVE BANK OF INDIA FOR THE TENTH MONTH , UPSETTING IT IS . THE FIGURE IN THE JULY WAS 6.15% , BUT , IT IS BEING SAID THAT IT IS HIGHER , ACORDING TO THE FORECASTS IN THE REUTERS POLL OF ANALYSTS . IT WAS RECORDED 6.23% IN THE MONTH OF JUNE . THE FOOD PRICES HAVE CLIMBED UP , DUE TO SUPPLY SIDE DISRUPTIONS. A HIGH JUMP OF 9.62% COMPARED TO THAT OF 8.72% IN JUNE . RESERVE BANK OF INDIA LAST WEEK ANNOUNCED FEW CHANGES IN THE POLICY , UNCHANGING THE INTREST RATES AND CUT DOWN THE REPO RATE BY 115 BASIS POINTS . THE MEDIUM TERM SET BY THE RESERVE BANK OF INDIA FOR INFLATION IS 4% ABOUT WHICH I MENTIONED ABOVE.

INDIA HAS EXPECTATIONS ABOUT THE CONTRACTION OF THE ECONOMY MORE THEN 4.5% IN THIS CURRENT FISCAL YEAR . CORE INFLATION HAS BEEN IN BETWEEN 5.8% AND 5.9%. BUT THE GOOD NEWS IS WE ARE EXPIRIENCING BEAUTIFULL MONSOON THEESE DAYS AND DUE TO THE MONSOON RAINS , AWAITING THE AVERAGE OF 104% FOR LONG TERM IN THE MONTHS OF AUGUST AND SEPTEMBER. THIS IS A SIGN DESIGNATING THE HEAVY AND RICH HARVESTS , ADDING TO OVERCOME THE DAMAGES INCURRED DUE TO THE NOVEL CORONAVIRUS PANDEMIC.

I FEAR FOR THE BALLOON HEADING FOR A BURST !

Rajasthan Assembly Session begins, Ashok Gehlot-led govt to move vote of confidence today

A key session of the Rajasthan Assembly began today. The motion for vote of confidence was presented in the Legislative Assembly on behalf of the State Government, which is being debated in the house. Legislative Affairs Minister Shanti Dhariwal introduced the motion for vote of confidence in the house.
 
Starting the debate, Mr Dhariwal said that today the issue has attracted attention of people of entire state and the country. Speaker Dr C. P. Joshi said that the discussion would be concluded within three hours. It is believed that voting will be take place on the confidence motion by this evening.
 
The house assembled at 11 a.m. and paid tributes to Lalji Tondon, Ajit Jogi and other leaders who recently passed away. After the obituary remarks, the Speaker adjourned the house till 1 P.M. Special seating arrangements were made in the house to maintain social distancing in view of the Corona pandemic.

COVID-19 recovery rate improves to over 71 per cent in country

Total recoveries from COVID-19 in the country today inched closer to touch the two million mark. A total of 17 lakh 51 thousand 555 people have recovered in the country so far. Fifty five thousand 573 recoveries were reported during the last 24 hours. With this, the recovery rate improved to 71.17 per cent in the country. The case fatality rate stands at 1.95 per cent.
 
The Health Ministry said, 64 thousand 553 new cases of COVID-19 have been registered in the country in the last 24 hours taking the total number of cases to 24 lakh 61 thousand 191. Presently, the total number of active cases in the country is six lakh 61 thousand 595. In a single day, one thousand seven deaths were also reported taking the toll to 48 thousand 40.

Country registers record high testing of more than 8 lakh samples for Covid-19 for 2nd consecutive day

India registered a record high testing of more than eight lakh COVID-19 samples consecutively for the second day. The Health Ministry said, India recorded its highest COVID testing figure of eight lakh 48 thousand 728 samples during the last 24 hours. It said, the remarkable feat has been achieved by rigorously following the ‘Test, Track and Treat’ strategy and the country is geared up to reach the testing capacity of 10 lakh tests per day.
 
The Health Ministry said that the strong resolve and determination of the Union Government along with the States and Union Territories to follow aggressive testing as the first important step in the early detection and isolation of COVID-19 cases has resulted in rapidly increasing the number of tests done per day. The week-wise average daily tests conducted has witnessed a sharp increase from around 2.3 lakh in the first week of July 2020 to around seven lakh in the current week.
 
The cumulative testing done so far in the country now stands at two crore 76 lakhs 94 thousand 416 tests. The Tests done per million of the population in the country has also seen a sharp increase to reach nearly 20 thousand.
 
Government said that the strong determinant of this milestone has been a sustained expansion of testing labs across the country. From merely one lab in January this year, the country today has one thousand 451 labs. Out of these, 958 are government labs while the remaining 493 are private labs.

President Ram Nath Kovind to address the Nation on the eve of 74th Independence Day today

President Ram Nath Kovind will address the nation on the eve of the 74th Independence Day today. The address will be broadcast from 7 PM onwards on the entire national network of All India Radio and telecast over all channels of Doordarshan in Hindi followed by the English version.
 
All India Radio will broadcast regional language versions of the President’s Address from 9.30 PM on its respective regional networks. Broadcast of the address in Hindi and English on Doordarshan will be followed by broadcast in regional languages by regional channels of Doordarshan. 

Cashless Economy – Boon and Bane ?

What is a Cashless Economy ?

In a cashless economy most of the transaction will be done by digital means like e banking, debit and credit cards, PoS (point of sales) machines, digital wallets etc. In simpler words no liquid money or paper currency will be used by the people in a given country. In a cashless economy the third party will be in possession of your money. He will allow you to transact that money whenever it is needed. If it is not needed then the third party can use that money. Third party can be a government or any other public or private sector bank.

Positive Impact on Society

We are seeing the impact of cashless economy on the society when it comes to crime rates. According to Union defense minister after demonetization the crime rates in Mumbai has dropped to half. Not just Mumbai but Delhi is seeing a substantial decline in crimes related to financial motive. Bank robbery, burglary, extortion etc are declining because of demonetization.

Attack on Parallel Economy

This is one of the most important reasons why a cashless society is must. People who hoard money under their bed (also known as black money), people who launder money bypassing banking channels, terrorist who need money to finance their terror etc will run out of business now. Size of Parallel economy will reduce substantially.

Financial Inclusion

Digital economy will help to enhance our current banking system. There will be increased access to credit for people who did not fall in any banking network. Financial inclusion will automatically reduce poverty.

Increase the Tax Net

All the transactions that are done can be monitored and traced back to a given individual. If officials from tax department smell something fishy then they can trace the money transaction back to the individual. Hence it will be really difficult for someone to evade tax. Increasing tax net is very important for any government.

Boost in Consumption

There would be no incentive for people keeping money in the bank. So they would love to spend on things that they like. It will help to boost consumption that is really good for any economy. More jobs will be created and income level of people will rise.

Security and Convenience

Last but not the least is security and convenience. You don’t have to carry a wallet with money in it. You just use your mobile phone or credit card for transaction. It is very hassle free and already going on in urban areas of the country.

Security – Cyber Attack, Fraud and Power Outages

Cashless economy can be a nightmare when it comes to security. All your transactions will be done digitally. You will be prone to cyber attacks like hacking. Hackers can hack your sensitive information like password, credit card number etc and leave your account with no money. Even your personal computer is compromised. You can save yourself from fraud but it is very difficult to save from a cyber attack. Finally if there is a power outage especially in India which is very regular then entire system will be affected for long time.

Have to Trust Government or Third party

As I said earlier there is no money in your hand. All the money is digital so either they are in control of banks or government or any other third party. You have to trust government or bank blindly because everything is under their possession. This is could be scary because if tomorrow something happens you will be left with no hard cash.

Reduced Liquidity means Bad for Certain Sectors

There are certain sectors which depend upon high level of transaction. Sectors like Real Estate, jewelry, retail industry, restaurants and eating joints, cement and other SME will be affected badly because of cashless society. It means a lot people who are employed by these sectors are also going to be affected.

Really Bad for Poor

This is the real point and will be debating this in great details in following paragraph. Here I just want to say cashless economy is really going to hurt poor.

Money is probably the most significant invention in the history of economics which has now by and large fully replaced the barter system of trade across the world. However, nowadays, many developed societies in the world have now moved a step further by moving on to the cashless economy. In the developing countries like India, the cashless system has started making the inroads but it is far less in use than that of the developed counterparts.

During the pre-demonetization, the cash to GDP ratio in the country was between 12-13% of the GDP which fell to 7.3% during the demonetization. It was less than that of US where cash GDP ratio is at 7.8%. Though Reserve Bank of India (RBI) has started replenishing the cash into the economy but many experts believe that cash-GDP will not raise to the pre-demonetization level as government is giving a push to the cashless economy.

As India moves towards a cashless economy, following advantages are expected to accrue :

  • The electronic payment will help the entrepreneur to increase their customer base and breach the geographical limitations.
  • It is not necessary to be physically present to conduct cashless transaction. There is also no limitation on timing of transaction as it can be done at any time and from anywhere.
  • Carrying high amount of cash is always a security hazard. For other modes like credit/ debit cards, in the event of loss or robbery, one can block the card. It may also reduce pick pocketing and highway robbery.
  • Increasing share of cashless will improve government revenue as online transaction lead a trail of events which can be traced to find out tax evasion if any.
  • Since the cashless transactions are more visible, it will help in curbing the clack money.
  • If subsidy or wages for the welfare schemes like MNREGA are paid online through bank transfer instead of cash, it would also help in plugging the leakages and help in ensuring that subsidies are better targeted.
  • As the people increasingly started using cashless transactions, it will help in increasing the tax base. It will be easy for the public as well to explain the tax authorities their past expenditure.
  • Being cashless also inculcates budget discipline.
  • It will also be easy to ward off the borrowers if you are cashless.
  • Cashless transactions do away with the need of change. One can pay in exact amount even in fraction of rupee or paisa through card payment or online transaction.
  • Problem of counterfeit currency will also be reduced in online transactions.
  • One can also trace the funding of terror activities as online transactions leave a trail.
  • There is high cost of printing currency notes. Switching to cashless transactions will decrease this cost.

However, being cashless has its share of disadvantages too :

  • The biggest fear is the risk of identity theft. One can also become a victim of phishing trap.
  • In case of loss or theft of card, getting another card is time consuming process.
  • Since mobile phone had become an important element of cashless economy, loss of phone may become a double whammy as many financial details can be retrieved from it.
  • If we take into account the proportion of non-tech-savvy population, the practical implementation of cashless economy will take enormous efforts.

Despite its drawbacks, the cashless system is indeed an improvement over the traditional cash based system. However, none of the advanced economy has fully replaced the cash as it is practically not possible but reducing the amount of cash and increasing the cashless transactions will definitely improve the transparency in business transactions and therefore is good for the country and economy.

The future of Indian consumer market

Consumption kept the Indian economy going long after investment slowed, but over the past year, even this narrative has started to fray at the edges.

Will consumer spending in India shake off its sluggishness and go back to growing at a fast clip and in turn drive economic growth ?

The short-term answer of the next two years is that –

(1) the richer parts of it will step up spending in the next year and be the vanguard of growth, and since they account for at least 40% of all spending and over half of income, this is good news, and

(2) however, we must be careful not to fall into our oft-repeated trap – assuming that the yo-yo upward growth that we are about to see as a result of release in pent-up demand is the right growth number to project for the future.

The medium-term answer of the next five years is that –

(3) the third decade of liberalization and the third trillion dollars of gross domestic product (GDP) will result in a very different spending pattern of consumers from the second decade and the second trillion dollars – in fact, discretionary income will shrink for a large section of Indian households as subsidies get withdrawn and income growth is lower, and inflation and interest rates are higher (remember the golden years of 2003-10 ? ).

The long-term answer of the next 10 years is that we must urgently accept that the India consumption story has some big problems on the fundamentals that we must try and change or accept and factor into our expectations and our business strategies. Consumer India is not anywhere near what we believe it to be – a healthy, young fruit tree, growing in an environment that has all the natural ingredients needed for it to flourish and yield an ever-increasing crop year after year nearly as if on “auto pilot” and almost forever.

On the contrary, it is like the demographic dividend – it has lots of potential, but miles to go before it gets fulfilled. Consumer India comprises lots of people, but no regular income or formal jobs or decent living conditions, no social security either; perforce settling for micro-entrepreneurship livelihoods to compensate for no formal jobs, but with so little financial inclusion to enable them to grow to generate reasonable and stable incomes. If India doesn’t earn regularly and properly, if it has no social security, how can the spending engine be regular and confident?

The only thing that remains constant in the world is change. Since independence Indian consumer market has been changing under the impact of various forces. These forces on the Indian consumer market have brought in a lot of divides. The prominent ones are the divide between the rich and the poor, rural populace and the urban populace as well as the divide between the English speaking and non-English speaking population. India after a tumultuous period of more than forty years opened its economy in 1991. Government of India ushered in the LPG reforms that is liberalization, privatization and globalization in 1991 resulting in high economic growth. The era of Hindu rate of growth was over.   

This new growth coupled with improvement in information technology gave rise to a new consuming middle class. These consumers believed in spending on discretionary shopping goods, were influenced by the work culture of MNC’s in sectors like IT, ITES, banking, telecom among others. Even local businessmen were benefitted by the impact of high economic growth and therefore they also joined the spending spree.  

This continued in the new millennium. As FDI inflows increased, more international brands were available. Even because of low interest rates in USA, liquidity flows increased resulting in lower interest rates in India.   

Home loans and other types of credit off take jumped resulting in multiplier effect on consumption. The party continued until 2008, when the world was hit by the financial crisis resulting in a slowdown in India. Since then, there has been a tapering of consumption pattern. Sentiments and the fundamentals are not to be very happy about. In fighting with the slowdown the government has increased its expenditure and thereby increasing the fiscal deficit. The current level of fiscal deficit which is hovering around 5 percent of GDP is unsustainable.    

It is partly responsible for high inflation. Other factors responsible for high inflation are policy paralysis in areas of agriculture, banking among others. High inflation has resulted in lower disposable incomes. Discretionary spending has come down resulting in slow consumption growth. The hoopla and excitement of 2003-07 will come back or not depends upon a lot of factors. Yes in the long run, the consumption story looks bright. According to McKinsey reports, over 291 million people will move from desperate poverty to a more sustainable life, and India’s middle class will swell by more than ten times from its current size of 50 million to 583 million people.  

By 2025 over 23 million Indians—more than the population of Australia today – will number among the country’s wealthiest citizens. The medium term and short term prospects of Indian consumer market rests on the growth in personal incomes of the people and low inflation. Both can only be achieved with proactive intervention of the central government as well as the various state governments.  

Till the general elections of 2014, the sentiments will not be euphoric as far as the consumption story is concerned. Beyond that, the new government has to improve the governance by leaps and bounds to revive the economic growth and thereby increasing the personal incomes.   

The government has to bring a lot of reforms like amendment in APMC act so that the aggregate food supply and its efficient distribution can improve resulting in lower food inflation and higher discretionary spending. So in the short to medium term, the consumption story of Indian market rests on the new government and its policies. Things like hoarding, black-marketing has to come down. So, it will be interesting to see who comes to power in 2014 because even the prospects of Indian consumer market and our affluent lifestyle expectations rest on the quality of the new government.

Augmented Reality: Welcome to a new ethical minefield

Have you ever thought of living in a world whose reality is very close to the virtual world? Nowadays the developers are trying their hands over this fact and achieved a great success to even blur the line between real and virtual world. There are a lot of examples that use the concept of AR. Now, what is the basic principle of augmented reality?

Its system superimposes the picture of the CG over the user’s vision of the actual world. Unlike virtual reality, where all a user experiences are created by a machine, augmented reality retains the emphasis on the physical world, yet just incorporates features that are not present to improve the user’s experience.

This platform has been seen all around the globe from biomedical technologies to banking and even engineering – oogle is reintroducing Google Glass as a virtual reality device for the workplace. Several creative practitioners are now using virtual technology for their business cards.

If you’ve experienced Pokemon Go’s hubbub, you’ve witnessed increased reality in action. This video game allowed players to experience the world around them from their smartphone cameras while projecting game objects, including on-screen icons, ratings, and ever-famous Pokemon characters, as overlays that made them appear like they were right in your real-life neighborhood.

Google SkyMap is another well established AR device. It overlays details about constellations, planets, and more as you point your smartphone or tablet camera to the stars. Wikitude is an app that searches up information about a landmark or object by simply pointing it out with your mobile device. Would you need help visualizing the latest furniture in your living room? The IKEA Place app will have a new couch overlay for that room before you purchase it, so you can make sure it suits.

A few years back, Disney developed a groundbreaking way for children to display their beloved 3D characters using virtual reality. The development team created technologies utilizing AR to translate animated pictures from a coloring book to 3D renderings via a cell phone or laptop. This device is already in its infancy and has not yet been published to the public, however, this may contribute to a completely different opportunity for children to learn and interact using their imagination.

Since years, Tv News has been utilizing visual effects to enhance the image of the broadcast. Of starters, weathermen have been standing in front of green screens of years, posing as charts for audiences to display their weather predictions. The Weather Network is also pushing it a step forward to demonstrate severe weather and its consequences. In the past two years, the media channel has used artificial reality to view a 3D earthquake, demonstrate the height of the flooding during storm waves and hurricanes, and even driven a simulated car around the studio to illustrate how cars lose the power of snowy or frozen highways

Not all of the representations of virtual reality are fun and games. The United States Army is working with virtual reality systems to be deployed in the battle that can allow troops to differentiate between hostile and neutral forces, as well as to enhance night vision. This system is still in production and could be years away from implementation, but military leaders claim that this breakthrough will boost battle effectiveness and help to save lives.

Here, I’ve been trying to grasp the applications and possibilities of AR. This area is still growing rapidly and worth spending on time and energy.

Hope you guys find the piece interesting

Exams Time

Finally the supreme court decision of exams will be announced tomorrow,the MHRD and national disaster management has given permission for exams,the UGC is planning to conduct exams by sep 30th

states like Delhi and Maharashtra has cancelled final exams but UGC mentioned without exam there is no certificates,and supreme court decision is pending for the conduction for final exams

Reasons why the Power of Purchasing Parity theory is effective

a) Strong relation between exchange rate and purchasing power of two countries currency and its rate of exchange:

Practically there is no defined link that exist between power to purchase the currency and its exchange rate. Apart from power to purchase, there is exchange rate which is influenced due to various factors like flow of capital, balance of payment, tariff and speculation. As these have not been considered, the purchasing power parity is not giving the desired forecast.
b) Level of prices:

This theory calculates the rate of exchange by using indices of price level in both countries as generic version. In general price level is inclusive of prices which are domestic and internationally traded and the theory is based on implicit assumption that prices in two segment of goods shows variation equally and proportionately assuming that it is in same path in both countries. It is seen that prices can move in any direction internal as well international. International trading of goods is not taken into account. As per this, prices of goods produced and used in home country will not have much impact on exchange rate.
c) Price Index Numbers:

Another issue in this theory, is using price index based on power to purchase a currency in two different countries. Price index numbers may be varying kind that raise issue of selecting the correct price index. Another problem which is based on price index of two countries is that it may not be comparable due to difference in same base period, choice of commodity and average pricing of each commodity. Keeping such diverse problem into account, constructing price index for two countries will be difficult as correct measurement of purchasing power parity is not available.

d) Price Level and Exchange Rate: PPP theory takes into account change in price level and it indicates that as cause for changing exchange rate. In other words, change in price level is cause and change in rate of exchange is effect. Changes in exchange rate can also lead to changes in price level. This can be faulty and misleading. In practical condition, depreciation in exchange rate stimulates export and gives restriction to imports. Reduction in supply for domestic market is likely reason for pushing the prices in upward direction in home country. In foreign country prices may fall, this will induce change in price level. Domestic prices are following the exchange rate rather than preceding.
e) Capital Account:

This theory has not taken into account capital transaction. It is considering only the Balance of Payment based on merchandising. Capital account which is significant in India is ignored. It seems to be more apt for trading nations and not so relevant when it comes trading and banking.
f) BOP Equilibrium:

In relative pattern, this theory assumes that balance of payment during the specified base time is in equilibrium. Assuming this, new rate of exchange is determined and such an assumption may not be true. It is difficult to locate such a period in any country due to unequal balance of payment.
g) Structure:

It is considering that there is no change in structure of factors, which are underlying the base time equilibrium. Factors like tastes, preference, resources, productivity and technology etc are considered. Assuming that related structural factors are unrealistic and rate of exchange are bound to be affected due to variation in factors.
h) Capital Movement:

PPP theory does not take into account variation of internal price which are changing in two countries. Zero capital investment is assumed and such assumptions do not give realistic results. Capital flow has substantial influence on exchange rate based on demand and supply of foreign as well as domestic currency. This impact of capital flow on exchange rate has been neglected in this theory.
i) Elasticity of demand and its reciprocal:

PPP fails to consider the reciprocal demand elasticity. Rate of exchange which are between two currency in two countries are determined not only due to changes in relative pricing but it takes into account the elasticity of reciprocal demand(Ca’Zorzi, M et al., 2016).
j) Barter Terms:

PPP depends on the assumption that there is no change in terms of bartering between two countries. Based on this assumption, the theory gets invalid. There are frequent changes in barter terms of trade due to several factors like export supply of goods, home demand for foreign goods, loans from foreign land etc.
k) Demand and Supply Forces:

Rate of exchange is not impacted by price change in two countries alone. Demand and supply of foreign exchange form fundamental force for determining rate of equilibrium. Other influencers are flow of capital, transportation cost, banking system, insurance system. PPP theory is not giving much importance to such forces of demand and supply of foreign exchange.
l) Income and Expenditure: Variation in aggregate level of income and expenditure and its effect on rate of exchange is not considered as per this theory. The effect of trading volume is not considered in this theory. As per this theory, demand is straight function of price wherein shift in income and expenditure in the business cycle is completely not taken into account. This leads to wide variation in volume and foreign exchange even if the prices remain the same.
m) International Economy:

This theory does not consider the cognizance and volatility of international business relationship. Third country purchasing commodity from first two countries who are already in trade relationship is not considered. Third country trading can have an impact on the demand and supply of goods and its volume. Hence proper measurement in multi country trading is not established.
n) Longevity:

PPP theory is apt for long period of time wherein not many other disturbances can have impact. However, price variation is one important aspect in exchange rate, it is not the only factor.
In spite of various weakness noticed in PPP theory, they form the central model and has proven to be good for long term analysis. Hence this theory has been considered for studying the exchange variation between EUR and USD. It is empirically proven theory, hence the same has been taken into account for the analysis of bilateral rate of exchange.

Competency mapping

Competency mapping identifies an individual’s strengths and weaknesses. The aim is to enable the person to better understand himself or herself and to point out where career development efforts need to be directed.

Competencies are derived from specific job families within the organization and are often grouped around categories such as strategy, relationships, innovation, leadership, risk-taking, decision-making, emotional intelligence, etc. So far as the way to go about for competency mapping is concerned, the first step is job analysis, where the company needs to list core competency requirements for the job concerned. The next step should be development of a competency scale for the job on the parameters previously identified.

The actual mapping of employees can be a self-done exercise or done by others like superiors. It can also be done by using the 360-degree method where peers, first reports and customers also rate the employee.

Competency approach to job depends on competency mapping. Competency Mapping  is a process to identify key competencies for an organization and/or a job and incorporating those competencies throughout the various processes (i.e. job evaluation, training, recruitment) of the organization. A competency is defined as a behavior (i.e. communication, leadership) rather than a skill or ability. 

Competency is your ability to do something successfully or efficiently. Therefore, competency mapping is simply a process of matching your competence with the job role and/or organization. Furthermore, it is also about matching people to the job role and hence used even in selection.

Definition: Competency mapping is the process of identifying the specific skills, knowledge, abilities, and behaviors required to operate effectively in a specific job or organization. Competency maps are often also referred to as competency profiles or skills profiles.

Some of the major practical applications of competency mapping include :

Job Evaluation: By analyzing the key skills to required to do a job a simple job evaluation can be prepared. It can help in allocating existing or new resources to the specific job based on the evaluation process

Project Planning: What key tasks can be performed by what resources ject can easily be identified through the mapping process and helps in project planning.

Performance Management:

A competency mapping exercise results in preparing Competency Framework, which in turn helps in allocating desired proficiency for the job vs current proficiency to do the job. By analyzing any gaps the performance management can be seamlessly conducted

Job analysis: By identifying the key behaviors required to perform each job role, competency mapping is really useful in preparing job analysis. Not to be confused by Job description step in competency mapping process where the job roles analyzed for allocating competencies and behaviors.

Succession Planning : The analysis of competencies required for a leadership role and mapping them with proficiency shown by potential leaders a clear roadmap for succession planning can be created.

Any developmental need can also be ascertained by mapping the critical competencies with the current proficiency level demonstrated by an individual vis-à-vis the required proficiency level for the position.

Recruitment: By identifying key skills required to do the job and also developing a competency-based interviewing process the organizations can benefit by hiring the most suitable resources while it helps in all stages of the recruitment process.

Individual development plan: Any gaps in desired and current proficiency levels help in developing individual development and learning roadmap for individuals and even job roles and categories.

Jobs in India are attracting Foreign Resumes.

In the tough time due to Covid-19 pandemic the jobs all around the world are worst affected.Many top companies have removed their employees for the cost cutting approach.So,in this case many are jobless and for many employees in different companies are working with a hefty pay-cut due to this.As everywhere everything is started to lease slowly and steadily we can see again the job openings by different companies have started and that’s a good sign for everybody else out there who want jobs.

When Teamlease Services just posted about their job openings in the field of Marketing,the company was surprised and shocked to see that resumes are coming from foreign countries such as US.As due to this situation there is wide spread of opportunities open for each and every candidate around the world to apply.Now in this case companies have also got the potential to hire the best candidate and having ample of opportunities to hire according to their criteria.

It will not be a kind of one way system but there is same kind of opportunities open for Indian candidates to apply for foreign roles said hiring firms.Hiring firms are keen to hire candidates on the roles for R&D,processing and design,in addition technology.Randstadd India head Sanjay Shetty says “Some Global CEOs we are looking at India for its quality talent.This could be another wave of jobs being outsourced to India in a big way. A number of high-end jobs — which were hitherto kept close to the mothership of an MNC, especially in FMCG (fast-moving consumer goods), FMCD (consumer durables), banking and liquor industries — are expected to relocate to India. Some of these companies had earlier shied away from doing so, for various reasons”.

Key reasons for this transition is because as Indian companies has gone into Work From Home as they business continuity.In this new trend all the companies are gone into strengthening cyber security systems.As in this period company wants mind workers rather than hand workers.Some companies also said that the person who is an individual coder can work from anywhere just he needs only laptop.In this the company mentioned that people who have been living far from their hometown have reached to their hometown.So they will have good quality time spend with family,a well cooked home food and environment with their loved ones.

So in this case the companies are getting foreign resumes because working from any corner of the world is possible just by having a good connectivity and a laptop.