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Best BooksMust Read Books for IAS Aspirants

Best BooksMust Read Books for IAS Aspirants

You can find many lists filled with many books for IAS if you are looking for materials to help you begin your preparation for UPSC. But most of them are swollen lists, meant to scare you into thinking there is too much to study!

Here is a short list of books to prepare the IAS, which you must first enter (and sometimes download for free!) If you plan to seriously try UPSC preparation. These should be your first companions.

We have listed the books for IAS and have briefly described why we believe it to be an indispensable book for its preparation. You will also find a brief guide on how to use the book as much as possible. Books are listed in the recommended order in which they should be read once you begin your preparation.

India After Gandhi by Ramachandra Guha


Why should you read it?

It is not easy to put many things in the context of Indian politics without knowing what has been played over the years. Most of our history textbooks stop their chapters after that of Independence of India. The Guha takes the story and brings it closer to the modern India we grew up in. The book will allow you to better understand how India has changed since independence and some of the great events that have shaped India today.

How you should read it:

It is close to 900 pages, so let’s not pretend that we can finish it in one session. The best approach is to read one chapter a week. This is because our goal is not only to read the whole book as quickly as possible, but to read and remind us as much as we can. There are tips to remind you of everything you learn, as we have seen.

What you should do is read a chapter this week and read the incidents in this chapter. Read wikipedia, read blogs about it, read newspaper articles about it, think about it. Then, briefly summarize the main events / arguments of the chapter from the memory. If you wish, you can send us your chapter summaries and we will publish the best – the best abstracts (those that will be published – they must be at least 1/4 of the actual length of the chapter to be published) will receive gift certificates Rom amazon / flipkart. After that, make an overview of the chapter with only a few keywords, this time looking at the actual book.

Now, get your study partner (you should have one, if you do not contact us and we can get you one) or mentor and explain the chapter to that person – just looking at your keyword notes, and Not the book itself!

Do it for each chapter and you will be the great master of modern Indian history in a few months! Of course, if you like, you can speed up the process and do it 1 chapter by 3 days instead of per week – but be sure to familiarize yourself with each chapter and get it adhered!

Further reading: India since independence by Bipan Chandra




Kim Beazley says government should be favourable to ‘uncontroversial’ Afghanistan troop request

Kim Beazley says government should be favourable to ‘uncontroversial’ Afghanistan troop request

Former defence minister and ambassador to the United States Kim Beazley says the Turnbull government should grant a request for more troops to be sent to war-torn Afghanistan.

With a resurgent Taliban and strengthened Islamic State, NATO has asked Australia to contribute to a surge of allied forces in the country, where Australian military personnel are already serving in training, support and security.On Friday, Prime Minister Malcolm Turnbull said the government was “actAncien ministre de la Défense et ambassadeur aux États-Unis Kim Beazley dit que le gouvernement Turnbull devrait accorder une demande pour que davantage de troupes soient envoyées à l’Afghanistan déchiré par la guerre.El ex ministro de Defensa y embajador de Estados Unidos en Estados Unidos, Kim Beazley, dijo que el gobierno de Turnbull debería solicitar que más tropas sFormer defence minister and ambassador to the United States Kim Beazley says the Turnbull government should grant a request for more troops to be sent to war-torn Afghanistan.

With a resurgent Taliban and strengthened Islamic State, NATO has asked Australia to contribute to a surge of allied forces in the country, where Australian military personnel are already serving in training, support and security.On Friday, Prime Minister Malcolm Turnbull said the government was “actAncien ministre de la Défense et ambassadeur aux États-Unis Kim Beazley dit que le gouvernement Turnbull devrait accorder une demande pour que davantage de troupes soient envoyées à l’Afghanistan déchiré par la guerre.El ex ministro de Defensa y embajador de Estados Unidos en Estados Unidos, Kim Beazley, dijo que el gobierno de Turnbull debería solicitar que más tropas sean enviadas a Afganistán destrozado por la guerra.

Con un talibán resurgido y un Estado islámico fortalecido, la OTAN ha pedido a Australia que contribuya a un aumento de las fuerzas aliadas en el país, donde el personal militar australiano ya está sirviendo en formación, apoyo y seguridad.El viernes, el primer ministro Malcolm Turnbull dijo que el gobierno estaba “ActAncien Ministre de la Défense y de la Embajada de los Estados Unidos Kim Beazley dice que el Gobierno Turnbull de acuerdo con una solicitud para que más de los trucos son enviados a la Afganistán déchiré par la guerre.

Avec un Taliban renversé et un Etat islamique renforcé, l’OTAN a demandé à l’Australie de contribuer à une poussée de forces alliées dans le pays, où le personnel militaire australien sert déjà de formation, de soutien et de sécurité. Vendredi, le Premier ministre, Malcolm Turnbull, a déclaré que le gouvernement était “Considérant activement” la demande, qui fait part d’un effort de l’alliance militaire multilatérale pour trouver quelques troupes pour le conflit de 16 ans.

M. Beazley – qui a été été vice-premier ministre et chef de l’opposition pendiente du séjour au Parlement et a nouvel annulé son poste diplomatique à Washington DC – a déclaré que la demande était sans contrainte, De la Australia de 270 personas. “Nous avons beaucoup investi en ce Opération afghane, alors j’imagine que le gouvernement”, a-t-il déclaré à Fairfax Media.

“La solicitud, que forma parte de un impulso de la cooperación multilateral, es una de las razones por las que Militar para encontrar unos miles más de tropas para el conflicto de 16 años de edad.

El Sr. Beazley, que también sirvió como viceprimer ministro y líder de la oposición durante su tiempo en el Parlamento y recientemente desocupó su cargo diplomático en Washington DC, dijo que la solicitud no era controvertida, dado el compromiso de Australia de 270 empleados. Afganistán, así que imagino que el gobierno de Turnbull estaría estudiando [la solicitud] bastante favorablemente “, dijo a Fairfax Media.

“Espero que lo vean, dado el contexto, de estar dentro del marco de lo que ya estamos haciendo. Creo que probablemente querríamos hacerlo

Avec un Taliban renversé et un Etat islamique renforcé, l’OTAN a demandé à l’Australie de contribuer à une poussée de forces alliées dans le pays, où le personnel militaire australien sert déjà de formation, de soutien et de sécurité. Vendredi, le Premier ministre Malcolm Turnbull a déclaré que le gouvernement était “Considérant activement” la demande, qui fait partie d’un effort de l’alliance militaire multilatérale pour trouver quelques milliers de troupes supplémentaires pour le conflit de 16 ans.

M. Beazley – qui a également été vice-premier ministre et chef de l’opposition pendant son séjour au Parlement et a récemment annulé son poste diplomatique à Washington DC – a déclaré que la demande était sans contrainte, compte tenu de l’engagement actuel de l’Australie de 270 personnes. “Nous avons beaucoup investi dans ce Opération afghane, alors j’imagine que le gouvernement Turnbull examinerait [la demande] assez favorablement “, a-t-il déclaré à Fairfax Media.

“J’espère qu’ils le chercheront, compte tenu du contexte, d’être dans le cadre de ce que nous faisons déjà. Je pense que

Blog Bollywood Business Education Hollywood News People Science World

Can we get best beauty parlour services at home in Mumbai?

Can we get best beauty parlour services at home in Mumbai?

Parlour service at home in Mumbai

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Blog Bollywood Business Education Hollywood News People Science World

It’s a mad, mad, mad world…



Right from the start of the Baillon Col­lection auction, the values were going berserk: the very first car on sale, for instance, a most ordinary and rather tired Singer Roadster, estimated at between €200 and €800 (?56,000) went for €10,790 (?7.6 lakh). The prices went spiralling, clearly there was a frenzy of buying that was not making any sense at all. Caught up in that frenzy was an Indian collector, Madan Mohan from Delhi, a transporter and a restaurant owner in Gur- gaon – who is new to the world of classic cars – went ahead and bought nine of the 59 cars, at €343,296, a price that is almost ridiculously high, especially for cars that need a huge amount of work to be restored, and are not all that special either.

As many as 59 ancient cars were sold for €25.15 million (?l 77.4 crore) at the recent­ly-concluded Retromobile classic car show in Paris! And the 2015 edition of Retromo­bile will be remembered through the sale of the Baillon Collection by Artcurial, despite
the fact that the 40th edition of a show had many other absolutely wondrous and rare automobiles on either special display or on sale. Of course, the Baillon sale was signifi­cantly boosted by the price that the Ferrari 250 GT California, a car that used to belong to the famous French actor Alain Delon, sold for a record €16.3 million (?115 crore).

Two other cars crossed the million euro mark: a Maserati A6G, which went for €2.01 million (?14.2 crore) and a Talbot-Lago T26 Grand Sport (€1.7 million or ?12 crore). The prices for the rarer and fancier machines were not all that surpris­ing, but a rather battered Delahaye Type 43, went for €65,600 instead of a sensi­ble estimate of €6,-8,000 – with most cars selling for five to 10 times their estimate.

Several of the cars came apart when they were transported from the Baillon barn to Paris – how many of those nine will make it to India in a complete state remains to be seen.

♦ GAUTAM SEN gauta m. se [email protected] ia. ir

Catching up

At Paradip, the company had also plannee a coal terminal (capacity: 18 mtpa). As a parIn December 2012, Essar Ports had com­missioned a 16 million tonnes per annum (mtpa) capacity unit to handle iron ore and pellets at Paradip, which was to be con­nected to the stockyard by a 9 km long cov­ered conveyor system. The company had a
10-year licence agreement with the Paradip Port Trust, for export of iron ore and pellets Today, the Hazira terminal (dry bulk anc break bulk cargo) has a capacity of 30 mtpa while Vadinar (liquid terminal) has a capac ity of 58 mtpa. Add to this the Paradip capac ity of 16 mtpa, the total comes to 104 mtpa.

  • of an agreement with the Paradip Port Trust, the company was given the right to build and operate for 30 years. The project got delayed because many petitions were filed by port users occupying the land, which were all dis­missed by the Supreme Court subsequently. Paradip Port Trust has now started clearing the land to be handed over to the company. Essar Ports will commence construction once the land is handed over.Essar Ports had planned a terminal with 20 mtpa capacity at Salaya, west of Jamnagar, to handle dry bulk cargo. The project was held up because it had not received approval from the ministry of environment. In its third quarter results, the company said it has obtained the ‘final forest clearance’ and that the ‘bund’ construction is now in full swing. The company expects the project to go on stream by October this year.The Hazira expansion, which was also held up for want of clearance from the envi­ronment ministry, has received clearance too. The company intends to add another 20 mtpa taking it to 50 mtpa.In 2013, Essar Ports had won the bid for the development of three iron ore berths at Visakhapatnam Port for 30 years. These three berths are expected to have a combined capacity of 23 mtpa. Labour unions filed petition against the ministry for shipping and Visakhapatnam Port Trust and, the Andhra Pradesh High Court, while allowing the tendering process to continue, said the process will depend on further orders by the court.

    Later, it dismissed the court cases by labour unions against the two-phase modernisa­tion and construction of iron ore berths in Visakhapatnam by Essar Ports. Subsequently, Essar Ports signed a ‘concession agreement’ with Visakhapatnam Port Trust in Decem­ber 2013. As per the third quarter results, Essar Ports had reached financial closure on this project. In the fourth quarter of 2014-15, the company will take it over as an operating berth. Essar Ports intends to take its present capacity to 194 mtpa over the next few years.

    In October 2014, Essar Ports decided to de- list. By October, the company set the de-listing price at T90.50 and got the shareholders’ nod for de-listing through postal ballot.                       ♦

    [email protected]



ECONOMY More resources to states


The 14th Finance Commission has recommended an increase in the share of states in the Centre’s tax revenue from the current 32 per cent to 42 per cent. The recommendation will give more power to states in determining how they spend this money. Besides sharing of tax revenues,


the commission has also laid down the principles for giving out grant-in-aid to states and other local bodies for a five-year period beginning 1 April 2015.

Coal block auction

The first round of coal block e-auction saw some of the key names in the industry bagging 18 mines with a combined extractable reserve of 90 million tonnes, along with attached end-use infrastructure. According to the auction amount and royalty payable, six mineral- rich states are likely to earn a little more than ?1 lakh
crore over the next 30 years. Some of the earlier owners of coal mines – Hindalco, Balco, Jindal Steel & Power (JSPL), GMR and CESC – bagged most of the blocks. Of them, JSPL won back one of the blocks it had lost after a Supreme Court order cancelled allotments.

Finance SEZs

The finance ministry has cited the exodus of rupee and Nifty trading outside Indian shores as the key wjtowmendation reason behind pursuing finance special economic zones (SEZs). A report put out by the ministry said that more than X2 lakh crore of yearly revenues are being generated outside India on account of trading in rupee derivatives – revenue which can potentially be brought onshore.

Food grain output likely to fall

The agriculture ministry has estimated total food grain output for 2014-15 at 257.07 million tonnes, as against 265.57 mt in 2013-14. All crops, barring sugarcane, are
expected to post production declines, as rainfall has been deficit in both the South- West and North-East.

‘Hike import duty on rubber’

The Association of Planters of Kerala has sought to enhance* the import duty on natural rubber to 30 per cent next fiscal onwards, besides an immediate ban on imports temporarily as an urgent intervention. The planters body said

that rubber production during the current fiscal till December was 529,000 tonnes, which is 16 per cent lower than the corresponding period last year. However, import during the current fiscal was 359,857 tonnes, which is 38 per cent more than the previous year.

Pulses production to decline

India’s pulses output is set to decline 7 per cent to 18 million tonnes during crop year 2014-15, according to the Second Advanced Estimate by the ministry
for agriculture. Pulses’ output during the previous crop year (July-June) was estimated at 20 million tonnes.

Wheat procurement

The Centre has fixed wheat procurement target for the 2014-15 mbi marketing season at 30.06 million tonnes, against the actual procurement of 28.02 mt. The target was fixed at a meeting with state food secretaries, held to discuss procurement arrangements, an official statement said.

WPI goes negative

The wholesale price index (WPI) dipped to -0.39 per cent in January, consequent to a fall in inflation recorded for the eighth consecutive month. Inflation was at 0.1 per cent in December. The WPI plunged into the negative zone, as the slide in fuel prices more than offset the increase in food prices, which continued to be high.

Priorities on gas allocation

The government is set to revise its priorities in allocation of natural gas, by putting city gas distribution at the top, followed by atomic energy, urea plants, power and domestic LPG.

It will also make this allocation policy uniform, implying that the order of priorities will be the same irrespective of what source the gas is coming from. Currently, top priority in gas allocation is accorded to fertilisers, followed by the power, although 100 per cent of the city gas sector’s needs is to be met by domestic gas, as per a Gujarat High Court order issued last year.


JLR expands its global footprints

Tata Motors, is contemplating to set up a plant in North America for


the production of its Jaguar and Land Rover (JLR) brands. Earlier JLR opened its first overseas manufacturing facility in China, with a view to double global sales by the end of this decade. Earlier in December JLR has progressed on its ?1,800 crore Brazilian project to set up a second plant in Rio de Janeiro.

This plant aims to produce 24,000 vehicles a year once it ramps up to full production in 2016.

Powering ahead

Neyveli Lignite Corporation’s (NLC) Unit I of NLC Tamil Nadu Power has been test synchronised with the grid on 18 February, 2015. NLC Tamil Nadu Power is the subsidiary company of NLC.

Godrej woos Darling

Godrej Consumer Products (GCPL) has inked an agreement with the Darling Group for upping its shareholding in Darling South Africa and Mozambique businesses to 90 per cent. This is in line with its intent of gradually scaling up its ownership of the Darling businesses.

BHEL to build submarines

BHEL, Mishra Dhatu Nigam (Midhani) and Hindustan Shipyards have inked an MoU for setting up a consortium for bidding and if successful, building submarines for the Indian Navy at an Indian shipyard. The initiative was inspired by Prime Minister Narendra Modi’s ‘Make In India’ initiative for catering to the defence sector.


DVR shares

The BSE has announced rules on the inclusion of shares with differential voting rights (dvrs) on the s&p bse Sensex, BSE 100, BSE 200 and

BSE 500 indices. Shares with differential voting rights are similar to common equity shares in all respects other than dividend received and voting rights.

Simpler advertising norms

Association of Mutual Funds in India (AMFI) has approached market regulator, Securities and Exchange Board of India (SEBI), to simplify the current advertisement norms.

The association feels the current norms are too complicated and it needs to be made clearer so that investors can take informed decisions.

Law tribunals

Maintaining that substantive questions of law need to be addressed, the Supreme Court has referred a petition challenging the validity of the National Company Law Tribunal (NCLT) and its appellate body to a five-judge constitution bench. Madras Bar Association (MBA), a body of practising lawyers, in the Madras high court, had challenged the NCLT and the National Company Law Appellate Tribunal (NCLAT) for violating the need for separation of powers between the executive and judiciary.

Regulating e-commerce sector

The rapidly expanding e-commerce sector, which has been attacked by brick and mortar businesses over issues such as predatory pricing, has found support within the government against a proposal that seeks to impose curbs on the likes of Flipkart and Snapdeal that have disrupted the market. The department of industrial policy and promotion (DIPP) has opposed a plan to regulate the e-commerce sector, arguing that it would curtail innovation and the spirit of entrepreneurship.

A new group for stocks

To check market manipulation through ‘penny stocks’, market watchdog SEBI will soon ask stock exchanges to create a new group for shares that are found to be prone to such activities. The new group may be called ‘T+’ and would include shares that remain susceptible to manipulative activities despite having been put in the ‘T’ group where trading is restricted to delivery-based trades within a small price band of up to five per cent and intra-day trades are not allowed.

Firms face SEBI’s heat

A large number of listed firms, including top blue- chips, are facing heat from the stock market authorities for sudden surge in their share prices and trading volumes as also for ‘speculative’ information leaks. In just about one and a half months since the beginning of this year, the stock exchanges have sought ‘clarifications’ from at least 19 Sensex blue chips, including giants like Mahindra & Mahindra, Hindustan Unilever, SBI,

Coal India, Wipro, Hero Motocorp, ICICI Bank, Cipla and L&T.

No consensus

SEBI is yet to reach an agreement with banks on the pricing formula for conversion of debt of troubled companies into equity. According to sources, banks want full freedom to decide on the price of converting their debt into equity without any application of pricing formula stipulated by the stock market regulator.

Banks as brokers

The Insurance Regulatory & Development Authority of India has asked insurers to pursue an open architecture model in bancassurance.

In a meeting between the insurance regulator and industry players, the chairman of the authority said that guidelines to facilitate this would be issued soon.

Nuclear pool gets IRDAI nod

Insurance sector regulator IRDAI has given in-principle approval for setting up of ? 1,500 crore nuclear liability pool for providing risk cover to nuclear reactors.

Gold import norms eased

The Reserve Bank of India has allowed banks to import gold in bullion form on a consignment basis and given them a freehand in extending gold loans. Importers who have been accredited as ‘Star Trading Houses’ and ‘Premier Trading Houses’ can import gold on ‘documents against payment’ basis without any end use restrictions.

Interconnection charges slashed

In a move that is likely to lead to reduction in call rates – both for mobile as well as fixed line users – the Telecom Regulatory Authority of India slashed various interconnection charges one operator has to pay to another for using their network. However, it is not yet known how much the tariff reduction will be.

Mobile number portability

The Telecom Regulatory Authority of India (TRAI) has said that, starting May, mobile users will be able to avail themselves of full mobile number portability (MNP) in any part of the country. This is different from the existing system, which allows users to retain phone numbers only within a circle.


Jack of all trades, a start-up based in Mumbai, does every­thing including running

My Peon

errands for its clients, it exe­cutes 80-100 tasks a day and aims to take it to 150-200 in few months and works with 2,000+ customers – indi­viduals, companies or other start-ups – on tasks including paying bills, visiting a bank, collecting an item you forgot or delivering a specific food item. It charges ?200 per task
and has already broken even in Mumbai. Now, it is plan­ning to begin operations in Pune and Bengaluru in next 3-4 months; it is also in talks with investors to raise money for the same.

On one’s own

The number of solo travel­lers seeking to explore the world alone and experience adventure – a predominantly western concept – is grow­ing in India and We Travel Solo intends to capitalise on that., a

start-up started with the idea to connect all the single trav­ellers at one place claims to be India’s first solo travellers’ community. On the web­site, experienced solo travel­lers create all inclusive trips to the places they know best for other solo travellers to join the trip. Started by She- fali Walia, We Travel Solo has so far taken seven trips. To join the Website, a one-time membership fee of ?1,000 is required. The Website intends to make money through com­mission on every trip.

Search and find

A free listing website for Lost

lostyafqund m

Ab complaint nahi login kar^

and Found articles, LostYa- started by a brother duo in August 2014 wants to help people find their lost items. If a user has lost an item he can put a post on the website with rewards for the person, if he returns the item. A user can also put up a post if he has found an item belong­ing to someone else. Dolesh, one of the founders feels this Website can play a big role in mega events like Kumbh Mela, where people lose a lot of their belongings. At pres­ent, is focus­sing on marketing to increase the awareness of the Website.

♦ ROHIT PANCHAL [email protected]






Learning on the go

iProf Learning Solutions, a company focussed on providing education in digital format in India, has launched a free android app named ‘iProf’ for learning on the go. The app is a vir­tual classroom to facilitate learning on the go with prac­tice test material, videos, discussion board and an option to raise a doubt for courses that include I1T-JEE, Bank PO, CBSE class VI-XII, English Speaking and GK. iProf claims the app gives students access to its library, which has 500,000 ques­tions, 85,000+ videos and notes pertaining to these courses. It has plans to add other courses such as CSAT, AIPMT, NDA, CA CPT, Olympiads, GATE, Railway entrance exam & languages in few weeks.

Innovation to ‘pay’

Mobile payments are the future and, therefore, companies are launching innovative solu­tions to take the lead. iKaaz,

mobile payments company providing Tap & Pay solutions, has launched a mobile app ‘Mowa’, which facilitates consum­ers and merchants to make and receive payments based on the mobile number, without sharing private bank account details of the sender or receiver. The differentiating feature of this app is that it requires no pre-payment of account like other wallets, as consumers’ money resides in their own bank account until they undertake the transaction.

The app will benefit small merchants as they can accept digital payments – debit, credit and pre-paid card payments for free and without a hardware point of sale terminal. Users can also use the app to pay their friends and family. The user has to attach the credit or the debit card as a payment medium with the app and start making payments by entering mobile


number of the recipient. Users can also request for money and if accepted & paid, the amount gets deposited into the bank. The app is available free of cost and supports all banks in India.

As part of the India Digital Literacy and Internet Safety Cam­paign, Google India has launched Web Rangers, a program to empower teens to pro­mote the safe use of the Internet among their peers. The program also introduces a con­test, where students across the coun­try will be given 12 weeks to create and run their own online safety campaigns, encouraging young people in their schools and communities to con­sider issues such as the effects of cyberbullying, managing one’s own digital footprint and online tricks and scams.

These youth-created online or offline educational campaigns can take any form, including online vid­eos and other social media con­tent, sketches and in-school events. The creators of the most creative and impactful internet safety campaign, as cho­sen from this contest, will head to Delhi to present their work to a panel of judges. The winners of the contest will be announced in May 2015.


Retail penetration

Titan, a Tata group company headed by Bhaskar Bhat, is one of the play­ers enjoying the revival in urban consumption and is gearing to tap the market with a host of offerings. Already, the company will benefit from gold on lease coming back with the RBI giving the nod for re-intro­duction. It has also revised the min­imum monthly installment of the revised Golden Harvest Scheme (GHS) to L2,000 from L5,000 to make it more appealing to consumers. Now, Titan is gearing up to counter the e-com­merce threat with its omni-chan- nel strategy and tie-ups with many online players. The company is lay­ing more emphasis on digital and e-commerce in jewellery for working women-wear (like Mia) than on tra­ditional categories like weddings or high-value ornaments. Accordingly, it is leveraging the digital platform to enhance consumer convenience and experience. Continuing to eval­uate opportunities, the company has chalked out a five-year strategic plan to drive future growth.

On track

SevenHills Healthcare Pvt Ltd, which operates Asia’s largest private hospital in Mumbai, is all set to implement its second phase. This is in spite of all the talks of the company changing hands. Established in 2010, the multi-spe­ciality hospital which commissioned over 300-bed capacity some time ago, out of its total proposed capacity of 1,500 beds, is now in the process of implementing its remaining capac­ity in the next few years. The hospi­tal, which will possess the largest ICU capacity of 300 beds in a single loca­tion, recently got its loan re-payment restructured, amidst debts of over L900 crore owed to a consortium of banks lead by Axis Bank. Moreover, jPMorgan had come on board when it picked up 35 per cent stake through its Asia fund in the healthcare chain in 2008 and further infused $50 mil­lion in 2013 to keep the hospital afloat as the hospital chain was reel­ing under debt. To bring the hospi­tal back on track, the management recently also appointed a new CEO, Dr Ravindra Karanjekar, a seasoned campaigner who has been in hospital administration for 30 years in vari­ous hospitals including Lilavati, For- tis and Wockhardt. The management has also realigned its strategy to step up its occupancy. It is also planning to attract patients from countries like Africa and the Middle East.

Real foray

R.K. Jatia group promoted Prove­nance Land, the owner of Four Sea­sons Hotel, Mumbai, has entered the high-end residential segment of the real estate market. The hospitality chain that also owns Hyatt Regency in Pune, is constructing two 52-storey towers, adjacent to its existing hotel


Four Seasons Hotel, Mumbai



property in Worli, in Mumbai. Cur­rently, it has a land parcel of 4.5 acre, of which the hotel stands on 1.5 acre. In the Phase 1 of the project, the com­pany, formerly called Magus Estates, is constructing 26 limited edition ultra luxury homes (priced: L30 crore to LI 00 crore) in one of the towers, to be ready for possession in the next three years. This apart, the hospital­ity chain will also build 100 serviced apartments spread over a 52-storey tower. This will come up under the banner ‘Four Seasons Private Resi­dences’ and ‘Four Seasons Serviced Apartments’, not dissimilar to the Taj Wellington Mews. The company, which already has some presence in Pune, is also planning to replicate such projects in Delhi in future.

Unlocking value

According to a merchant banker, the publicly traded Kalpataru Power & Transmission Ltd (KPTL) plans to unlock value. It has Shree Shubham Logistics (SSL) as a subsidiary and is contemplating diluting its stake either through an IPO or a strategic inves­tor. This is with a view to restructure the company. The money raised will fund KPTL’s growth plans, capitalise the recently acquired NBFC – Punar- vasu Holding and Trading Company, which supplements its agri-com­modity business by providing fund­ing facilities to market participants against a collateral of stocks, and repay part of its debt. The company intends to raise over L200 crore from the stake sale of SSL. All in all, the SSL listing could unlock substantial value for KPTL. Meanwhile, SSL has chalked out an aggressive expansion plan to add 3.87 lakh mt of storage capac­ity to the existing capacity of 3.5 lakh mt. Today, there is no compara­ble listed entity in the agri-commod­ity logistics space to benchmark the valuation but the leading integrated general logistic companies are trad­ing currently at 20-25 time their FY17 estimated earnings. So no prize for guessing the valuation of SSL! Analysts believe, it can fetch a market capital­isation of around LI,000-1,200 crore. KPTL’s market capitalisation stands at L3,600 crore at present.

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Let’s be fair and patient


Modi has to be given time, as there are enough evidences to suggest that his government is moving in the right direction

Deepak Parekh’s recent comments*to PTI that ‘Modi was lucky during the first nine months of his rule due to the fall in prices of international commodi­ties’ has become an area of debate among the elite class. Parekh had also added that ‘there was no change on the ground level otherwise; and that some impatience was creeping in among the businessmen’. The reactions have fallen into two categories: one, which backs Parekh’s assessment and, the other, which believes that Parekh has been a little impa­tient in judging Modi and his government. Even social media went abuzz, with some peo­ple describing Parekh as the famous villain in the Bollywood movie ‘Teja’ aka Ajit.

Those who believe that Parekh was a lit­tle impatient suggest that he has not been appointed in any of the government commit­tees and, hence, he is a little disgruntled with the government. They also claim Parekh is pro-Congress and that one should not read much into his allegations.

Those who back Parekh argue that he has been matter-of-fact in his comments. Though sentiment has improved, nothing much has changed in terms of economic activities. On the contrary, this government has invited more controversies than accolades. What is worse is that, instead of fixing the economic woes, the government is remaining a silent spectator, when a few people are vitiating the political and social atmosphere with hateful comments. Attacks on churches and the ghar vapasi programme are not something India should be in the news for. They also feel this government has not been able to bring about any radical reforms that can truly inspire the business communities.

Also, the fact that the NPAs of the banks are on the rise even after more than six months of the new government clearly sug­gests that the economic scenario is far from improving. The pro-Parekhs point out that Parekh was the first businessman who crit­icised the UPA too – for its ‘policy paralysis’ and, hence, terming him pro-Congress was unfair, to say the least.

Without going into the merits of either side’s arguments, it has to be said that reforms take time to roll out and, once out, they still
take time to reflect on the economy, due to the lag effect. Secondly, India is a democratic country, where reforms function on consen­sus, rather than dictatorial whims. These con­sensuses have to be worked out not only with the Opposition, but even within the BJP, as also with its allies. The Land Acquisition Bill is an instance in point, where the Modi gov­ernment is facing flak from its own allies like Shiv Sena, SAD and others. There are enough empirical evidences across the world that sug­gest that transition to a new model of growth is never smooth. We have been witnessing such events recently in countries like Japan, Mexico and China, just to name a few.

When the UPA government left, the econ­omy was not in good shape. Also, the deci­sion-making machinery had broken down completely. With global volatility at its unprecedented high, it’s obvious that any new government would take time to correct things. Modi himself had gone on record that it would take the first two years to repair the economy and the next three years to induce aggressive growth in the economy.

What is evident is that sentiments have become more positive on the ground level. People are more optimistic with the Modi government than with the Manmohan Singh government. There is hope that this govern­ment would push reforms. Stock market is at an all-time high and Fils are more bullish on India than ever before. Inflation, which was stubbornly high during UPA II, has started moving south, with WPI for January in the negative zone. So, things are moving in the right direction, albeit not at the same pace one would have expected.

To some extent, Modi himself needs to be blamed for high expectations as, during elec­tion time, he had given a ‘feel’ that things would fall in place in quick time. Maybe he is paying the price for raising such expectations. It would be unfair to blame Modi so soon, when there are enough evidences to suggest that his government is moving in the right direction. He needs more time, considering the state of the economy he inherited. We need be to fair and patient with Modi. His intentions are right; only time will tell whether he will be able to make Ek Bharat shrestha Bharat.   ♦



Economic Education National and International

Did my duty, punishment in God’s hands, says Karnataka HC judge after he resigns

Judge Jayant M Patel, a Karnataka Supreme Court judge, who resigned after the Supreme Court order ordered his transfer to the Supreme Court in Allahabad, said that those who decided against his ascent “Must respond to form in which it was made. ”
Judge Patel was expected to assume the position of chairman of the Supreme Court of Karnataka once Chief Justice S K Mukherjee retired on 9 October.

It was Judge Patel who in 2011, part of a court of two judges in the High Court of Gujarat had ordered the CBI investigation into the 2004 murder of Ishrat Jahan’s daughter Mumbra and three others after the Investigative Task Force SIT) concluded that the State Police had falsified the meeting.
When contacted by The Indian Express, Judge Patel, who resigned on Monday from the president, did not relate the denial of his appointment as Supreme Court president to his 2011 decision in the Ishrat Jahan case.
“Those who have made decisions should respond to the way this has been done. I can not say anything,” said Judge Patel, noting that he had seen merit cases, not who was involved.

“When I became aware of my transfer to the Supreme Court of Allahabad, I decided to resign, and I have already sent my resignation to the President of India, how it happened and what happened, it is up to you to take it into account,” he said.
“I did not feel like being transferred to Allahabad, I worked with dignity for 16 years as a judge and for ten months why I should go elsewhere,” said Judge Patel.
“What I feel is that I have fulfilled my duty for the oath of office, and punishment is ultimately in the hands of God, and one thing I can say is that wherever I have worked, it is in all sincerity and strictly for me office oath, “he said.

When asked if this was a spin-off of his IWC investigation in Ishrat Jahan, Patel J. said, “Every day we make decisions. We are not examining whether the case concerns X or Y and we can not decide on I do not think this could be the reason (for my transfer), but I can not respond to the decisions made by another person.
Judge Patel was appointed before the Supreme Court of Karnataka on 13 February 2016 after serving the President of the Supreme Court of Gujarat from August 2015 to February 2016.
Members of the Bengaluru Defenders Association, who met with him Monday, said they have “justice” perceived negatively by those who make decisions in the executive and the judiciary.
Supreme Court justices Dushyant Dave and Yatin Oza recently reported that Judge Patel was denied the top position in the country’s courts because of his decision to order the CBI investigation in the Ishrat Jahan case.

The lawyers who met him Tuesday tried to ask him to reconsider his decision. The judge had referred these matters beyond the review. The judge said Dushyant Dave knew his situation well.
“Everyone knows what kind of judge I have been, I was the same for all ministers and governments, Judge Patel was cited for having told the lawyers, I told them to respect the high values and not compromise the principles. said they quoted the Bhagavad Gita to say that everything that happened is good.

“Destiny must have something more in mind for me, there is a God above the whole world, we are in an artificial world, but there is someone up and I should have loved it. It should be useful for other purposes,” said Judge Patel.

Karnataka Supreme Court Attorney General Madhusudhan Naik and other senior lawyers who met with Judge Patel on Tuesday said the decision to transfer him was scandalous.
Meanwhile, the Gujarat Supreme Court (GHCAA) Bar Association on Tuesday decided to challenge the order to transfer Judge Patel to the Supreme Court.

The GHCAA will file a petition requesting full disclosure of the Supreme Court or College Superior’s grounds for recommendations of appointment, non-appointment, non-confirmations of the Supreme Court and / or the Supreme Court adjudicates to the Supreme Court or the President of the Court Supreme Court and for full judicial review in such situations.