CLSA forecasts India GDP at 6.3% for FY13
CLSA forecasts GDP at 6.3% for FY13; No rate cut in March - CNBC-TV18 -
bad news
CLSA forecasts GDP at 6.3% for FY13; No rate cut in March - CNBC-TV18 -
bad news
Indian Economy-News & Updates
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Bad news indeed, for chinese trolls and uncivilized jerks like you....
Indian economy may grow at 8 percent in 2012-13: Rangarajan
New Delhi : India’s economy may grow at 7.1 percent this financial year and inch up to 8 percent next fiscal if the global environment turns favourable, chairman of the Prime Minister’s Economic Advisory Council C. Rangarajan said Wednesday.
“We might be able to achieve 8 percent growth on our esteem, if the world environment is favourable,” Rangarajan told reporters here after releasing the Review of the Economy 2011-12.
The council has pegged gross domestic product growth at 7.1 percent for 2011-12, marginally higher than the 6.9 percent growth projected in the advance estimate early this month by the Central Statistical Organisation (CSO).
Inflation is estimated to come down to 6.5 percent by the end of the current financial year and ease further in the range of 5-6 percent in 2012-13.
“Headline inflation has shown a decline since November 2011 and more strongly in January 2012. It is projected to be around 6.5 percent at the end of March 2012. Both monetary and other public policies seem to have had the desired effect,” Rangarajan said.
This year’s projected GDP growth is substantially down from the budgetary target of around nine percent, and 8.4 percent expansion registered in the previous year.
High interest rates, fragile global economic conditions and the government’s inability to push through key reforms have stunted growth.
The growth in the agriculture and construction sectors is projected to remain higher than the advance estimates released early this month by the CSO, Rangarajan said.
The council has pegged farm sector growth at three percent, compared to 2.5 percent growth projected in the advance estimate.
A record output of rice and wheat on the back of good monsoon and strong growth in horticulture and animal husbandry segments are likely to push upward the agricultural sector growth.
The farm sector has grown by seven percent in 2010-11.
The manufacturing sector is expected to grow by 3.9 percent while construction segment is expected to expand by 6.2 percent.
“Manufacturing and construction have been sluggish during the first three quarters of 2011-12. This may show improvement in the fourth quarter,” Rangarajan said.
Strong growth in the services sector will continue with overall growth estimated at 9.4 percent for the fiscal ending March 31, 2012.
Investment activity has slowed down and as a result the gross fixed capital formation for 2011-12 has slipped to 29.3 percent, a decline of almost four percentage points over the last four years, said Rangarajan, a former governor of the Reserve Bank of India (RBI).
Rangarajan said the fiscal deficit was likely to expand beyond the budgeted estimate of 4.6 percent of GDP, mainly because of increased spending on subsidies, especially on refined petroleum products.
“The government must strive to contain and improve the efficacy of subsidies vis-Ã -vis the development needs that need to be carved out of the union budget,” the PM advisory council said in the review, emphasising on the need for fiscal consolidation.
Hill Post Indian economy may grow at 8 percent in 2012-13: Rangarajan | Hill Post
India Big Mouth target misses all the time, we don't believe you
The PMEACs forecast for FY13 has pegged the number at a range of 7.5% to 8%. Last year they began at 9% went down to 8.5% then to 8.2% and finally at 7.1%. Will that be a similar story in terms of direction this year as well?
The PMEACs forecast for FY13 has pegged the number at a range of 7.5% to 8%. Last year they began at 9% went down to 8.5% then to 8.2% and finally at 7.1%. Will that be a similar story in terms of direction this year as well?
India Most Disappointing in BRIC: Goldman Sachs Chairman
"India has the risk of a balance of payments crisis. They shouldn't raise people's hopes of FDI and then in a week say, 'we're only joking'," O'Neill said. "India's inability to raise its share of global FDI is very disappointing," he added.
India's record in terms of productivity, Foreign Direct Investment (FDI) and reform has been the most disappointing in BRIC, according to Jim O'Neil, the Chairman of Goldman Sachs
India Most Disappointing in BRIC: Goldman Sachs Chairman - International Business Times
---------- Post added at 08:39 AM ---------- Previous post was at 08:37 AM ----------
India's deficit threatens to explode
Mumbai: India's budget deficit reached 92.3 per cent of the fiscal-year target in the nine months through December, imperilling the government's aim of reining in the gap.
Finance Minister Pranab Mukherjee has said cutting the deficit is a serious challenge.
gulfnews : India's deficit threatens to explode
"India has the risk of a balance of payments crisis. They shouldn't raise people's hopes of FDI and then in a week say, 'we're only joking'," O'Neill said. "India's inability to raise its share of global FDI is very disappointing," he added.
India's record in terms of productivity, Foreign Direct Investment (FDI) and reform has been the most disappointing in BRIC, according to Jim O'Neil, the Chairman of Goldman Sachs
India Most Disappointing in BRIC: Goldman Sachs Chairman - International Business Times
---------- Post added at 08:39 AM ---------- Previous post was at 08:37 AM ----------
India's deficit threatens to explode
Mumbai: India's budget deficit reached 92.3 per cent of the fiscal-year target in the nine months through December, imperilling the government's aim of reining in the gap.
Finance Minister Pranab Mukherjee has said cutting the deficit is a serious challenge.
gulfnews : India's deficit threatens to explode
angeldemon_007
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I hope you know that these predictions are never accurate. Every financila organisation have their own formula and accordingly they predict the economy. Its like telling the future, its never true but somebody's prediction will hit the target. Everybody predicted Indian economy will do much better and you know why everyone is upset ? Its because everybody needs Indian economy to do much better even for China, it will do only good if Indian economy do much better as both of them wants the trade between India and China increase.
No, India Gov Big mouth, China gov is humble, hard working
We Chinese Gov predicted 2008 GDP = 8%, Final Result = 9%
We Chinese Gov predicted 2009 GDP = 8%, Final Result = 9.1%
We Chinese Gov predicted 2010 GDP = 9%, Final Result = 10.3%
We Chinese Gov predicted 2011 GDP = 8.5%, Final Result = 9.3%
---------- Post added at 09:11 PM ---------- Previous post was at 09:08 PM ----------
India GDP growth may fall below 6.9% in 2011: Ficci
Federation of Indian Chambers of Commerce and Industry (Ficci) has observed that there were still downside risks to achieve gross domestic product (GDP) growth of 6.9 per cent in the current financial year.
This is due to manufacturing and mining sectors are not doing well, as assumed, it said.
GDP growth may fall below 6.9%: Ficci
Hello_10
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also this is interesting that Mr Gautam Adani is richer than any Australian in billionaire list
Gautam Adani - Forbes
OH, please, we all know no body can beat a chinese in cheating... so please your $HIT WITH YOU
N Chandra Mohan: Build bridges to Look East
India’s free trade agreement with the 10-member Association of Southeast Asian Nations (Asean), which kicked off two years ago, is an integral part of the country’s Look East policy of integrating with a wider pan-Asian economic community encompassing China, Japan, Korea and India. At a time when the World Trade Organisation trade talks are going nowhere, the effort to put in place a regional bloc rivalling the European Union in terms of income and the North American Free Trade Area in trade commends itself. Although a substantial market for trade and foreign direct investment (FDI) has opened up, physical connectivity issues remain to be addressed.
This free trade agreement (FTA) has so far triggered a boom in bilateral trade that can easily cross $80 billion by 2011-12, up from $58 billion in 2010-11. India’s trade with Asean constitutes only 9.6 per cent of its global trade while Asean’s trade with India is only 2.5 per cent of its global trade — pointing to a huge upside trade potential that can be tapped with the FTA. On the FDI front, Indian business is beginning to show greater confidence in leveraging the business potential of a $1.5 trillion entity in investing in important member countries like Singapore in a big way. This drive has also extended to Vietnam.
Recently, two seminars were held on India’s engagement with Asean members Vietnam and Myanmar, organised by the Global India Foundation in collaboration with MAKAIAS (Kolkata), IFPS, University of Calcutta and Gamesa (India). The year 2007 marked a turning point with the steel projects of the Tatas and Essar in Vietnam. India’s FDI touched $500 million up to September 2011. At present, it has 52 investment projects with a registered capital of $220 million, noted Professor Ngo Xuan Binh, director-general, Institute of Indian and Southwest Asian Studies in Hanoi, Vietnam.
However, this effort of making the best of the Indo-Asean FTA and working towards a larger community encompassing Asean, China, Japan, Korea, India, Australia and New Zealand will not come to fruition unless there is connectivity. Without connectivity, pan-Asian integration will not be realised and will remain utopian. Unless India is linked with the region through road, rail, air and shipping services, freer trade with Asia will be sub-optimal. China’s trade with Asean is already four times India’s. If India wants to ramp up trade with the region to $80 billion plus by 2011-12, connectivity is crucial.
India recognises this problem and is, therefore, involving Asean in its north-east region, where Southeast Asia really begins. Connectivity with Thailand entails establishing road, rail and other linkages traversing Bangladesh and Myanmar. India has proposed to Myanmar that it will rebuild the Sittwe Port and make the Kaladan River navigable to provide an alternative access into Mizoram and the north-east region. The latter region could, therefore, be integrated with the rest of Southeast Asia. Participating in China’s Kunming initiative – which integrates Yunnan Province, Myanmar, north-east India and Bangladesh – is also a worthwhile initiative towards improving connectivity.
Unfortunately, however, progress on the ground is limited. Take, for instance, India’s north-east region that borders Myanmar. At the seminar, speaker after speaker noted the abysmal lack of surface transport infrastructure for border trade. While this has so far proved to be a failure, border trade between Myanmar, China and Thailand is flourishing. According to Dr C Joshua Thomas, acting director, ICSSR-Northeast Regional Council, Shillong, the reasons this has failed include the presence of many insurgent groups in Moreh, where border trade takes place with Myanmar.
During 2011, various pressure groups did not allow any movement of trucks on the highways to Moreh. Insecurity is rife among the non-local trading community. As if all of this weren’t bad enough, the legal system is poor. Corruption is rampant. Telecom services are poor. Also, there is lack of proper electricity supply in that border town. The way forward is to improve all these facilities so that the north-east indeed connects better with Myanmar and the rest of Southeast Asia. Moreh must be declared a dry port. There should be fewer checkposts. Besides, visa-free travel to Myanmar must be permitted.
The absence of connectivity also impacts closer business and people-to-people relations between India and Vietnam. There are no direct flights between the two countries to date. Although both nations are close in terms of geography, it takes 10 to 24 hours to travel from Hanoi to Delhi, due to stopovers in either Thailand or Malaysia.
Apart from this, strong historical maritime relations – responsible for our 2,000 years of engagement with Asia – must be revived. Sanjaya Baru, former Business Standard editor, has argued that historically Hyderabad/Golconda had extensive trade relationships including with Asia; and that a more modern Hyderabad, with its software prowess, is now once again spreading its wings to the far corners of the city’s old geographical and business reach, notably from the Straits of Malacca to the Straits of Hormuz. Hyderabad could be an international hub with connectivity to Singapore and Asean. Reviving and strengthening sea communications with Asean is, therefore, imperative for India.
N Chandra Mohan: Build bridges to Look East
India’s free trade agreement with the 10-member Association of Southeast Asian Nations (Asean), which kicked off two years ago, is an integral part of the country’s Look East policy of integrating with a wider pan-Asian economic community encompassing China, Japan, Korea and India. At a time when the World Trade Organisation trade talks are going nowhere, the effort to put in place a regional bloc rivalling the European Union in terms of income and the North American Free Trade Area in trade commends itself. Although a substantial market for trade and foreign direct investment (FDI) has opened up, physical connectivity issues remain to be addressed.
This free trade agreement (FTA) has so far triggered a boom in bilateral trade that can easily cross $80 billion by 2011-12, up from $58 billion in 2010-11. India’s trade with Asean constitutes only 9.6 per cent of its global trade while Asean’s trade with India is only 2.5 per cent of its global trade — pointing to a huge upside trade potential that can be tapped with the FTA. On the FDI front, Indian business is beginning to show greater confidence in leveraging the business potential of a $1.5 trillion entity in investing in important member countries like Singapore in a big way. This drive has also extended to Vietnam.
Recently, two seminars were held on India’s engagement with Asean members Vietnam and Myanmar, organised by the Global India Foundation in collaboration with MAKAIAS (Kolkata), IFPS, University of Calcutta and Gamesa (India). The year 2007 marked a turning point with the steel projects of the Tatas and Essar in Vietnam. India’s FDI touched $500 million up to September 2011. At present, it has 52 investment projects with a registered capital of $220 million, noted Professor Ngo Xuan Binh, director-general, Institute of Indian and Southwest Asian Studies in Hanoi, Vietnam.
However, this effort of making the best of the Indo-Asean FTA and working towards a larger community encompassing Asean, China, Japan, Korea, India, Australia and New Zealand will not come to fruition unless there is connectivity. Without connectivity, pan-Asian integration will not be realised and will remain utopian. Unless India is linked with the region through road, rail, air and shipping services, freer trade with Asia will be sub-optimal. China’s trade with Asean is already four times India’s. If India wants to ramp up trade with the region to $80 billion plus by 2011-12, connectivity is crucial.
India recognises this problem and is, therefore, involving Asean in its north-east region, where Southeast Asia really begins. Connectivity with Thailand entails establishing road, rail and other linkages traversing Bangladesh and Myanmar. India has proposed to Myanmar that it will rebuild the Sittwe Port and make the Kaladan River navigable to provide an alternative access into Mizoram and the north-east region. The latter region could, therefore, be integrated with the rest of Southeast Asia. Participating in China’s Kunming initiative – which integrates Yunnan Province, Myanmar, north-east India and Bangladesh – is also a worthwhile initiative towards improving connectivity.
Unfortunately, however, progress on the ground is limited. Take, for instance, India’s north-east region that borders Myanmar. At the seminar, speaker after speaker noted the abysmal lack of surface transport infrastructure for border trade. While this has so far proved to be a failure, border trade between Myanmar, China and Thailand is flourishing. According to Dr C Joshua Thomas, acting director, ICSSR-Northeast Regional Council, Shillong, the reasons this has failed include the presence of many insurgent groups in Moreh, where border trade takes place with Myanmar.
During 2011, various pressure groups did not allow any movement of trucks on the highways to Moreh. Insecurity is rife among the non-local trading community. As if all of this weren’t bad enough, the legal system is poor. Corruption is rampant. Telecom services are poor. Also, there is lack of proper electricity supply in that border town. The way forward is to improve all these facilities so that the north-east indeed connects better with Myanmar and the rest of Southeast Asia. Moreh must be declared a dry port. There should be fewer checkposts. Besides, visa-free travel to Myanmar must be permitted.
The absence of connectivity also impacts closer business and people-to-people relations between India and Vietnam. There are no direct flights between the two countries to date. Although both nations are close in terms of geography, it takes 10 to 24 hours to travel from Hanoi to Delhi, due to stopovers in either Thailand or Malaysia.
Apart from this, strong historical maritime relations – responsible for our 2,000 years of engagement with Asia – must be revived. Sanjaya Baru, former Business Standard editor, has argued that historically Hyderabad/Golconda had extensive trade relationships including with Asia; and that a more modern Hyderabad, with its software prowess, is now once again spreading its wings to the far corners of the city’s old geographical and business reach, notably from the Straits of Malacca to the Straits of Hormuz. Hyderabad could be an international hub with connectivity to Singapore and Asean. Reviving and strengthening sea communications with Asean is, therefore, imperative for India.
N Chandra Mohan: Build bridges to Look East
New leads in the solar power sector...
Indian researchers develop integrated solar energy storage tile
Solar researchers from Kerala, a southern state of India, have designed the world’s first integrated solar energy storage roof tile. Utilizing special electronics, the researchers have managed to develop solar tiles with integrated battery to store the generated power. Forty researchers of the Amrita Center for Nanosciences, headed by Shanti Nair and Vinod Gopal, have worked on the coveted project.
Named ‘Amrita Smart,’ the integrated solar tile can both harvest and store power on sunny days. The power can be used to recharge laptops, cell phones or to light up the house during nighttime. The product weighs in at 200 grams and it will be made available on the market in two years, says Vinod Gopal.
We have seen a variety of solar products that can only harvest power from sun. But, most often, for storing the power, extra battery will be required. It is here the Amrita Smart becomes unique. The invention is certainly noteworthy, because it will be inexpensive and efficient as well. In addition, it will be easy to set up given the fact that it is an integrated product.
The Amrita researchers showcased their invention at the International Conference, NANOSOLAR 2012. The solar conference was conduced by the Amrita Center for Nanosciences at the Amrita Institute of Medical Sciences in Erankulam, the industrial city of Kerala.
The integrated solar power tile is a notable invention. It can be used for home-based production of sustainable power. People can now embellish their rooftops with solar power generating-and-storing tiles. To an extent, it will bring the electricity bills down as well contribute much into the reduction of carbon footprint.
---------- Post added at 03:09 AM ---------- Previous post was at 03:08 AM ----------
Corporate India's profit to rise by 9.4% in Q4 FY 12: CMIE
Mumbai: Corporate India is expected to see a 9.4 percent rise in net profits in the three months period ending March, after suffering a steep fall for two consecutive quarters, CMIE said in its monthly review here.
Indian corporates incurred huge forex losses in the September and the December 2011 quarters because of steep depreciation of the Indian rupee. However, we expect rupee to appreciate in the March 2012 quarter, Centre for Monitoring Indian Economy (CMIE) said.
Absence of forex losses and a moderation in input price inflation are expected to push up corporate profits.
The main driver of growth is expected to be the banking industry, which is likely to see a robust 42.1 percent rise in net profits due to lower provisions and low base, it said.
Despite improvement in the March quarter, net profit of corporate India for the financial year 2012 as a whole will remain 9.5 percent lower than the year ago level. The net profit margin too will drop to a decade low of six percent, it said.
"We expect the sales growth of corporate India for the FY 12 to average at 22.2 percent. This growth will come on top of an equally strong growth of 20.2 percent in FY'11. The growth will be mainly driven by high unit realisation," CMIE report said.
High inflation in imported commodities like crude oil, LNG, natural rubber and gold prompted the user industries to hike prices of their offerings in the first half of FY'12. The benefits of the same are expected to accrue in the second half of the year too.
The Reserve Bank's attempt to combat inflation through interest rates hikes provided a boost to the income growth of the banking industry in the first half. We expect the trend to
continue in the second half as interest rates remain firm, the report said.
During the December quarter of 2011, corporate India reported robust growth in sales but witnessed fall in profits.
CMIE expects the growth in corporate sales to decelerate to 12.5 percent in FY 13 from 22.2 percent in FY 12. Unlike this year, the sales growth in the next year will be mainly volume driven, it said.
Corporate India's profit to rise by 9.4% in Q4 FY 12: CMIE
Indian researchers develop integrated solar energy storage tile
Solar researchers from Kerala, a southern state of India, have designed the world’s first integrated solar energy storage roof tile. Utilizing special electronics, the researchers have managed to develop solar tiles with integrated battery to store the generated power. Forty researchers of the Amrita Center for Nanosciences, headed by Shanti Nair and Vinod Gopal, have worked on the coveted project.
Named ‘Amrita Smart,’ the integrated solar tile can both harvest and store power on sunny days. The power can be used to recharge laptops, cell phones or to light up the house during nighttime. The product weighs in at 200 grams and it will be made available on the market in two years, says Vinod Gopal.
We have seen a variety of solar products that can only harvest power from sun. But, most often, for storing the power, extra battery will be required. It is here the Amrita Smart becomes unique. The invention is certainly noteworthy, because it will be inexpensive and efficient as well. In addition, it will be easy to set up given the fact that it is an integrated product.
The Amrita researchers showcased their invention at the International Conference, NANOSOLAR 2012. The solar conference was conduced by the Amrita Center for Nanosciences at the Amrita Institute of Medical Sciences in Erankulam, the industrial city of Kerala.
The integrated solar power tile is a notable invention. It can be used for home-based production of sustainable power. People can now embellish their rooftops with solar power generating-and-storing tiles. To an extent, it will bring the electricity bills down as well contribute much into the reduction of carbon footprint.
---------- Post added at 03:09 AM ---------- Previous post was at 03:08 AM ----------
Corporate India's profit to rise by 9.4% in Q4 FY 12: CMIE
Mumbai: Corporate India is expected to see a 9.4 percent rise in net profits in the three months period ending March, after suffering a steep fall for two consecutive quarters, CMIE said in its monthly review here.
Indian corporates incurred huge forex losses in the September and the December 2011 quarters because of steep depreciation of the Indian rupee. However, we expect rupee to appreciate in the March 2012 quarter, Centre for Monitoring Indian Economy (CMIE) said.
Absence of forex losses and a moderation in input price inflation are expected to push up corporate profits.
The main driver of growth is expected to be the banking industry, which is likely to see a robust 42.1 percent rise in net profits due to lower provisions and low base, it said.
Despite improvement in the March quarter, net profit of corporate India for the financial year 2012 as a whole will remain 9.5 percent lower than the year ago level. The net profit margin too will drop to a decade low of six percent, it said.
"We expect the sales growth of corporate India for the FY 12 to average at 22.2 percent. This growth will come on top of an equally strong growth of 20.2 percent in FY'11. The growth will be mainly driven by high unit realisation," CMIE report said.
High inflation in imported commodities like crude oil, LNG, natural rubber and gold prompted the user industries to hike prices of their offerings in the first half of FY'12. The benefits of the same are expected to accrue in the second half of the year too.
The Reserve Bank's attempt to combat inflation through interest rates hikes provided a boost to the income growth of the banking industry in the first half. We expect the trend to
continue in the second half as interest rates remain firm, the report said.
During the December quarter of 2011, corporate India reported robust growth in sales but witnessed fall in profits.
CMIE expects the growth in corporate sales to decelerate to 12.5 percent in FY 13 from 22.2 percent in FY 12. Unlike this year, the sales growth in the next year will be mainly volume driven, it said.
Corporate India's profit to rise by 9.4% in Q4 FY 12: CMIE
News from Hindu terrorist state..
Why we should respect Gujarat’s governance and economic achievements
Mukul G Asher | Wednesday, October 13, 2010
As the state of Gujarat nears completion of the first decade of the 21st Century, its achievements in economic management and in governance merit respect and closer study.
Between, 1999-2000 and 2007-2008, Gujarat’s gross state
domestic product (GSDP) in nominal terms grew at a compound annual rate of 15.8% (13.8% in per person terms). By 2010, its GSDP is approaching $100 billion, and its per capita income around $1,600, over a fifth higher than the national average. Gujarat’s economy is well-balanced, with primary, secondary, and tertiary sectors contributing 21%, 33%, and 46%, respectively of GSDP in 2007-08. The manufacturing sector, key to India’s future, accounted for 41% of employment, the largest share.
Gujarat, a mid-sized state, accounts for 5% of India’s
population but contributes 21% to India’s exports and 13% to the industrial production. Its literacy rate is higher than the national average. While the sex ratio needs to improve (there were only 920 females per 1,000 men in 2001), consistent with international norms, females in Gujarat live nearly four years longer than men.
Gujarat’s achievements have been a result of combining the following set of characteristics consistently and skilfully, with the particular mix and sequencing to suit particular context and conditions.
Outcome or result orientation: Such an orientation has helped minimise political or outmoded ideological considerations (such as the public sector being better than the private sector) in economic decision making and in project management. This has been the case in social sectors such as health and education, infrastructure provision, or in actively seeking new growth opportunities to help diversify sources of competitiveness and livelihoods for a growing number of workers.
It has facilitated combining knowledge, resources, energies and management skills of public, private and not-for-profit sectors for addressing specific public policy challenges.
It is only in the last decade that plans to use the state’s 1,600 km long coastline to generate broader regional growth have made progress. Gujarat’s private and joint sector ports will positively contribute to India’s rapidly growing international trade; to industrialisation; and to support future development of inland transport to reduce congestion and reduce transport and logistics costs.
Willingness to explicitly address business environment: The mix of factors which impact business environment include supply of resources and inputs; progressiveproductivity oriented industrial relations environment, regulatory framework; physical and social infrastructure; and where appropriate, fiscal incentives involving taxes, subsidies and budgetary expenditure.
The emphasis on addressing supply side constraints in infrastructure; in real estate amenities, matching human resources and skills with projected demands; and improving urban amenities, including innovations in public transport (such as Ahmedabad’s Bus Rapid Transit System (BRTS)), sets Gujarat apart from most other states in the country.
India is rapidly urbanising, and Gujarat is expected to experience majority urban population in the not-too-distant future. Its urban management experiments should therefore be of relevance elsewhere in the country. BRTS in Ahmedabad, for example, is raising resources from the market for expanding its reach. With tight fiscal constraints in urban areas, such a capability will be increasingly needed to provide urban amenities, and sustain competitiveness, while
improving the quality of everyday life of the people.
Gujarat is among the handful of states where the state government has framed clear policies in vital areas such as agriculture, ports, power, roads and education. This has helped create greater certainty and consistency, two important aspects of business environment. Gujarat’s share in the Delhi-Mumbai Industrial Corridor (DMIC) is 62% of the total area and 74% of the population. Its share in the 1,500 km-long Delhi-Mumbai dedicated freight corridor (DFC) is 38%. Its readiness to leverage these to enhance its competitiveness in attracting new economic activities is illustrated by the speedy and smooth allocation of Tata’s Nano car project and the rapid industrial development of the town of Sanand, near which the Nano plant is located. Its ability to address issues surrounding land acquisition and development fairly effectively is a particularly strong advantage as compared to other states.
To give another illustration, the Kutch region, traditionally arid, is being transformed through what a magazine has recently termed as ‘Green Revolution Lite’. This is an improved, compacted, and eco-friendly version of the earlier Green Revolution in Punjab and elsewhere. It is led by ordinary farmers, but under state policies to address their business environment.
The two characteristics noted above have contributed to improving Gujarat’s power supply capabilities in an environmentally sustainable manner while contributing to India’s energy security.
Thus, Gujarat Urja Vikas Nigam Ltd, its state electricity utility, has signed power purchase agreements with 26 solar power project developers for 365 mw of electricity. Its electricity regulator has fixed tariff for solar power. The state has formulated a solar park scheme, which is expected to contribute to increasing the share of renewable energy in India’s energy consumption.
Governance philosophy and vision: The third key characteristic has been the governance philosophy, which has emphasised the vision of India emerging as a major power by transformation into a knowledge-based economy and society, while approaching the country’s history from a more balanced and empirical-based perspective.
A good illustration is the Statue of Unity Project after Sardar Patel, who politically unified India after Independence. Characteristically, the project also includes a research and academic centre for preserving the unity and integrity of India, on agriculture to improve land productivity and yields, and on tribal life to empower them to earn livelihoods from a wide variety of activities over large geographical areas, rather than continuously depending on government initiated and funded programmes. The Unity project aims to balance national, academic, historical and spiritual values.
Gujarat has also demonstrated strong skills in social entrepreneurship, defined in simple terms as meeting everyday needs of ordinary people in an affordable manner by capitalist means. This philosophy, sometimes pursued in partnership with the government organisations, is much more sustainable and useful than large centrally planned ill-designed schemes, which make reversibility difficult even when they are demonstrated to be ineffective.
Gujarat’s people, its political leadership, particularly chief minister Narendra Modi, its business sector, labour leaders and social-entrepreneurship oriented not-for-profit sector all have contributed to Gujarat’s achievements and to laying a solid foundation for its future, though it should not become complacent and regard future progress as automatic.
India would clearly be in a better position to emerge as a major power if more states and the Central government learnt and adapted the state’s approach to economic management and governance.
The writer is a professor of public policy at the National University of Singapore and can be reached at sppasher@nus.edu.sg.
Why we should respect Gujarat’s governance and economic achievements
Mukul G Asher | Wednesday, October 13, 2010
As the state of Gujarat nears completion of the first decade of the 21st Century, its achievements in economic management and in governance merit respect and closer study.
Between, 1999-2000 and 2007-2008, Gujarat’s gross state
domestic product (GSDP) in nominal terms grew at a compound annual rate of 15.8% (13.8% in per person terms). By 2010, its GSDP is approaching $100 billion, and its per capita income around $1,600, over a fifth higher than the national average. Gujarat’s economy is well-balanced, with primary, secondary, and tertiary sectors contributing 21%, 33%, and 46%, respectively of GSDP in 2007-08. The manufacturing sector, key to India’s future, accounted for 41% of employment, the largest share.
Gujarat, a mid-sized state, accounts for 5% of India’s
population but contributes 21% to India’s exports and 13% to the industrial production. Its literacy rate is higher than the national average. While the sex ratio needs to improve (there were only 920 females per 1,000 men in 2001), consistent with international norms, females in Gujarat live nearly four years longer than men.
Gujarat’s achievements have been a result of combining the following set of characteristics consistently and skilfully, with the particular mix and sequencing to suit particular context and conditions.
Outcome or result orientation: Such an orientation has helped minimise political or outmoded ideological considerations (such as the public sector being better than the private sector) in economic decision making and in project management. This has been the case in social sectors such as health and education, infrastructure provision, or in actively seeking new growth opportunities to help diversify sources of competitiveness and livelihoods for a growing number of workers.
It has facilitated combining knowledge, resources, energies and management skills of public, private and not-for-profit sectors for addressing specific public policy challenges.
It is only in the last decade that plans to use the state’s 1,600 km long coastline to generate broader regional growth have made progress. Gujarat’s private and joint sector ports will positively contribute to India’s rapidly growing international trade; to industrialisation; and to support future development of inland transport to reduce congestion and reduce transport and logistics costs.
Willingness to explicitly address business environment: The mix of factors which impact business environment include supply of resources and inputs; progressiveproductivity oriented industrial relations environment, regulatory framework; physical and social infrastructure; and where appropriate, fiscal incentives involving taxes, subsidies and budgetary expenditure.
The emphasis on addressing supply side constraints in infrastructure; in real estate amenities, matching human resources and skills with projected demands; and improving urban amenities, including innovations in public transport (such as Ahmedabad’s Bus Rapid Transit System (BRTS)), sets Gujarat apart from most other states in the country.
India is rapidly urbanising, and Gujarat is expected to experience majority urban population in the not-too-distant future. Its urban management experiments should therefore be of relevance elsewhere in the country. BRTS in Ahmedabad, for example, is raising resources from the market for expanding its reach. With tight fiscal constraints in urban areas, such a capability will be increasingly needed to provide urban amenities, and sustain competitiveness, while
improving the quality of everyday life of the people.
Gujarat is among the handful of states where the state government has framed clear policies in vital areas such as agriculture, ports, power, roads and education. This has helped create greater certainty and consistency, two important aspects of business environment. Gujarat’s share in the Delhi-Mumbai Industrial Corridor (DMIC) is 62% of the total area and 74% of the population. Its share in the 1,500 km-long Delhi-Mumbai dedicated freight corridor (DFC) is 38%. Its readiness to leverage these to enhance its competitiveness in attracting new economic activities is illustrated by the speedy and smooth allocation of Tata’s Nano car project and the rapid industrial development of the town of Sanand, near which the Nano plant is located. Its ability to address issues surrounding land acquisition and development fairly effectively is a particularly strong advantage as compared to other states.
To give another illustration, the Kutch region, traditionally arid, is being transformed through what a magazine has recently termed as ‘Green Revolution Lite’. This is an improved, compacted, and eco-friendly version of the earlier Green Revolution in Punjab and elsewhere. It is led by ordinary farmers, but under state policies to address their business environment.
The two characteristics noted above have contributed to improving Gujarat’s power supply capabilities in an environmentally sustainable manner while contributing to India’s energy security.
Thus, Gujarat Urja Vikas Nigam Ltd, its state electricity utility, has signed power purchase agreements with 26 solar power project developers for 365 mw of electricity. Its electricity regulator has fixed tariff for solar power. The state has formulated a solar park scheme, which is expected to contribute to increasing the share of renewable energy in India’s energy consumption.
Governance philosophy and vision: The third key characteristic has been the governance philosophy, which has emphasised the vision of India emerging as a major power by transformation into a knowledge-based economy and society, while approaching the country’s history from a more balanced and empirical-based perspective.
A good illustration is the Statue of Unity Project after Sardar Patel, who politically unified India after Independence. Characteristically, the project also includes a research and academic centre for preserving the unity and integrity of India, on agriculture to improve land productivity and yields, and on tribal life to empower them to earn livelihoods from a wide variety of activities over large geographical areas, rather than continuously depending on government initiated and funded programmes. The Unity project aims to balance national, academic, historical and spiritual values.
Gujarat has also demonstrated strong skills in social entrepreneurship, defined in simple terms as meeting everyday needs of ordinary people in an affordable manner by capitalist means. This philosophy, sometimes pursued in partnership with the government organisations, is much more sustainable and useful than large centrally planned ill-designed schemes, which make reversibility difficult even when they are demonstrated to be ineffective.
Gujarat’s people, its political leadership, particularly chief minister Narendra Modi, its business sector, labour leaders and social-entrepreneurship oriented not-for-profit sector all have contributed to Gujarat’s achievements and to laying a solid foundation for its future, though it should not become complacent and regard future progress as automatic.
India would clearly be in a better position to emerge as a major power if more states and the Central government learnt and adapted the state’s approach to economic management and governance.
The writer is a professor of public policy at the National University of Singapore and can be reached at sppasher@nus.edu.sg.
India slips on economic confidence index
"The Indian economy is facing a series of interconnected crises as indicated by a sharp decline in economic growth due to tight monetary policy, falling domestic and foreign investment, a depreciating currency, large trade and current accounts deficits," Ipsos India MD Mick Gordon said.
India slips on economic confidence index - Business Today - Business News
---------- Post added at 09:15 AM ---------- Previous post was at 09:13 AM ----------
Debt crisis takes India’s Kingfisher to the brink of collapse
NEW DELHI - India’s debt-crippled Kingfisher Airlines Ltd stood on the brink of collapse on Tuesday after nearly a week of flight cancellations and the resignation of dozens of its pilots.
Debt crisis takes Indias Kingfisher to the brink
"The Indian economy is facing a series of interconnected crises as indicated by a sharp decline in economic growth due to tight monetary policy, falling domestic and foreign investment, a depreciating currency, large trade and current accounts deficits," Ipsos India MD Mick Gordon said.
India slips on economic confidence index - Business Today - Business News
---------- Post added at 09:15 AM ---------- Previous post was at 09:13 AM ----------
Debt crisis takes India’s Kingfisher to the brink of collapse
NEW DELHI - India’s debt-crippled Kingfisher Airlines Ltd stood on the brink of collapse on Tuesday after nearly a week of flight cancellations and the resignation of dozens of its pilots.
Debt crisis takes Indias Kingfisher to the brink
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Sweden calls for more economic engagement with India
By PTI Feb 27 2012 , New Delhi
Tags: India, Sweden, News
Sweden today said that increasing economic engagement with India will
help Europe overcome the sovereign debt crisis.
"India is one of those markets that would provide opportunity for Europe to grow," Sweden Ambassador to India Lars-Olof-Lindgren said at a Ficci function here.
He said that the proposed free trade agreement (FTA) between India and EU would benefit the European economy.
Since June 2007, India and European Union (EU) are negotiating a comprehensive free trade pact, aimed at liberalising trade in goods and services. The pact would also help in boosting investments.
Speaking on the occasion, former Prime Minister of Sweden Goran Persson too said that the FTA would help the 27-nation bloc to overcome the crisis.
"I very much attach hopes to the trade agreement with India. India is one of the most important actors in international politics...," Persson said.
The European Commission in a recent forecast has slashed expectations for growth across the Eurozone, particularly countries participating in bailout programs, including Greece and Portugal.
The two-way trade stood at 91.3 billion in 2010-11.
Sweden calls for more economic engagement with India | mydigitalfc.com
By PTI Feb 27 2012 , New Delhi
Tags: India, Sweden, News
Sweden today said that increasing economic engagement with India will
help Europe overcome the sovereign debt crisis.
"India is one of those markets that would provide opportunity for Europe to grow," Sweden Ambassador to India Lars-Olof-Lindgren said at a Ficci function here.
He said that the proposed free trade agreement (FTA) between India and EU would benefit the European economy.
Since June 2007, India and European Union (EU) are negotiating a comprehensive free trade pact, aimed at liberalising trade in goods and services. The pact would also help in boosting investments.
Speaking on the occasion, former Prime Minister of Sweden Goran Persson too said that the FTA would help the 27-nation bloc to overcome the crisis.
"I very much attach hopes to the trade agreement with India. India is one of the most important actors in international politics...," Persson said.
The European Commission in a recent forecast has slashed expectations for growth across the Eurozone, particularly countries participating in bailout programs, including Greece and Portugal.
The two-way trade stood at 91.3 billion in 2010-11.
Sweden calls for more economic engagement with India | mydigitalfc.com
Sweden calls for more economic engagement with India
By PTI Feb 27 2012 , New Delhi
Tags: India, Sweden, News
Sweden today said that increasing economic engagement with India will
help Europe overcome the sovereign debt crisis.
"India is one of those markets that would provide opportunity for Europe to grow," Sweden Ambassador to India Lars-Olof-Lindgren said at a Ficci function here.
He said that the proposed free trade agreement (FTA) between India and EU would benefit the European economy.
Since June 2007, India and European Union (EU) are negotiating a comprehensive free trade pact, aimed at liberalising trade in goods and services. The pact would also help in boosting investments.
Speaking on the occasion, former Prime Minister of Sweden Goran Persson too said that the FTA would help the 27-nation bloc to overcome the crisis.
"I very much attach hopes to the trade agreement with India. India is one of the most important actors in international politics...," Persson said.
The European Commission in a recent forecast has slashed expectations for growth across the Eurozone, particularly countries participating in bailout programs, including Greece and Portugal.
The two-way trade stood at 91.3 billion in 2010-11.
Sweden calls for more economic engagement with India | mydigitalfc.com
Don't forget this is the same country that funded NGO activities and chrisitan missionaries in India, the latest nuclear protests were funded by these jokers onlee
---------- Post added at 09:59 PM ---------- Previous post was at 09:59 PM ----------
Sweden calls for more economic engagement with India
By PTI Feb 27 2012 , New Delhi
Tags: India, Sweden, News
Sweden today said that increasing economic engagement with India will
help Europe overcome the sovereign debt crisis.
"India is one of those markets that would provide opportunity for Europe to grow," Sweden Ambassador to India Lars-Olof-Lindgren said at a Ficci function here.
He said that the proposed free trade agreement (FTA) between India and EU would benefit the European economy.
Since June 2007, India and European Union (EU) are negotiating a comprehensive free trade pact, aimed at liberalising trade in goods and services. The pact would also help in boosting investments.
Speaking on the occasion, former Prime Minister of Sweden Goran Persson too said that the FTA would help the 27-nation bloc to overcome the crisis.
"I very much attach hopes to the trade agreement with India. India is one of the most important actors in international politics...," Persson said.
The European Commission in a recent forecast has slashed expectations for growth across the Eurozone, particularly countries participating in bailout programs, including Greece and Portugal.
The two-way trade stood at 91.3 billion in 2010-11.
Sweden calls for more economic engagement with India | mydigitalfc.com
Don't forget this is the same country that funded NGO activities and chrisitan missionaries in India, the latest nuclear protests were funded by these jokers onlee
---------- Post added at 10:01 PM ---------- Previous post was at 09:59 PM ----------
‘Balloon-like device may replace stents'
Results of a study concluded by eminent cardiologists across the country over the past three years on 97 patients and released in the Capital on Saturday have indicated that SeQplasty, a balloon like device coated with drugs, is a ‘no foreign body device' technique and could prove to be a good replacement for stents in many cases.
“The study has concluded that SeQplasty, a revolutionary technique in interventional cardiology is a sure shot replacement for drug-eluting stents,” said a release issued after the study.
Dr. Upendra Kaul and Dr. Ashok Seth of Fortis Escorts, Dr. Praveen Chandra of Medanta Delhi, Dr. V. K. Bahl of AIIMS Delhi, Dr. Oomen George of CMC Vellore, Dr Ajit Mullasari of Madras Medical Mission Chennai, Dr. Seshagiri Rao of Nizams Institute Hyderabad and Dr. M. S. Hiremath of Ruby Hall Clinic Pune had participated in the study.
“SeQplasty, coated with drugs, is inflated at the fatty deposits in the blood vessel or artery for 45 minutes. The drug gets absorbed in the wall and the blockage is cleared,” said Dr. Kaul.
The Hindu : Today's Paper / NATIONAL :
What the Aadhaar payment pipe offers
Simple, yet complex: A high-level task force has laid out a blueprint for a single-platform e-payment gateway linked to and enabled by Aadhaar. — File photo: K. Murali Kumar
* Authentication pilots show two per cent ‘false rejects', 8 to 12 seconds response time
Weeks before the Union Budget, a high-level task force on ‘Aadhaar-Enabled Unified Payment Infrastructure', on Thursday, submitted a report laying out a blueprint for a single-platform e-payment gateway to facilitate the transfer of subsidies and payments for various government schemes. This solution, to be linked to and enabled by Aadhaar, is to provide a standard platform for various government institutions so that they can make payments in an automated manner.
An interoperable network of 10 lakh Business Correspondents, who were conceived as the magic wand to address the objective of financial inclusion, is to use the combined infrastructure of banks and India Post, across the 2.25 lakh gram panchayats in the country.
Widely perceived as a precursor to the introduction of cash transfers or direct subsidies, this payment gateway will be implemented by the National Payments Corporation of India, an outfit promoted by leading Indian banks. Another significant component of this proposal is the Unique Identification Authority of India's (UIDAI's) own MicroATM, currently being piloted in rural Jharkhand for the disbursement of wages under the Mahatma Gandhi National Rural Employment Guarantee Act.
Automating payments
So what does implementing this single-platform payment system involve in terms of technology? The process envisaged, though challenging, is basic. It proposes that a government e-payments gateway be set up, implemented by the Controller General of Accounts. This means that the process of transferring funds from the Finance Ministry to various departments, both for Direct Transfer of Subsidies and Electronic Benefit Transfers, will be automated.
To put it simply, the government department will send an encrypted file containing the Aadhaar number and the payment amount to the accredited bank. This is then processed through an interoperable (across banks) Aadhaar Payments Bridge. This bridge sends the information to the National Payments Corporation of India, which interfaces with accredited banks (each Aadhaar number is mapped to beneficiaries' accounts at the backend of this system).
Speaking to The Hindu, deputy director-general, UIDAI, A.P. Singh said such a system would not be tough to implement because “there's very little new stuff”. “Basically, Aadhaar provides the glue to piece existing technologies together. And it simplifies processes, like opening a bank account,” he said.
He pointed out that out of the 200 million enrolments, in its first phase, 84 per cent residents opted to open an Aadhaar-linked bank account. The bridge, he points out, is a simple intervention, where a simple file can be created and uploaded with just the payment amount and the Aadhaar number. “These capabilities are worked out at the NPCI level, and the entire system provides end-to-end visibility, and ensures there is no duplication.”
While this simple single-platform system does not involve either biometrics or authentication, the flagship features of the Aadhaar project, what is being envisaged outside this software layer may be a little more complex. Though the proof-of-concept reports on the pilots in Jharkhand are yet to be made public, Mr. Singh emphasised that it has been “a success”. The false rejection rate, he pegs at around two per cent, which will be “further brought down to 1.2 per cent”. This counters claims by critics who have argued that fingerprint authentication will be a challenge in rural India. “To improve this factor, we are also working out a way for residents to test their best finger,” he added.
Operating on a basic mobile network, Mr. Singh says, the turnaround time to obtain a yes/no authentication message (from the central UIDAI servers) is between eight to 12 seconds. Currently these MicroATMs — which is a basic Point of Sale terminal with a biometric reader — cost around Rs. 10,000-12,000. From March onwards, this pilot will be rolled out in many more districts across the country, he added.
Challenges
Getting the ball rolling on this system will require all government departments and institutions to fully digitise all their payment sanction processes. This itself will be a huge task, a senior official from the Department of Information Technology told The Hindu, adding that the process is already on in several departments.
For instance, in Karnataka, the Government implemented a pilot project for electronic transfer of MNREGA wages in Nelamangala taluk. This “largely successful” pilot programme involved making a database of all job card holders with their bank account numbers, entering digitally encrypted job details and wage lists to the MIS systems, which is then interfaced with a designated bank for cash transfer to beneficiaries.
In the pilot, out of 1,175 total transactions, 1,146 were conducted successfully, said P. Shivshankar, State director, MNREGA. However, the challenges, he conceded were considerable, right from getting beneficiaries to open bank accounts in the designated banks to validating existing data in the informatics system and prepping up the infrastructure requirements.
This task, in the case of the MNREGA financial management system was simpler because there has been an efficient informatics system in place for over three years now. In the case of many other schemes, particularly those run by State Governments across the country, setting up the infrastructure and automating the process will take some time.
While all this may be fine, the weakest link in the chain may well be its last link — the Business Correspondents who are expected to actually make payments to beneficiaries. With the experience with microfinance fresh in the mind, there are fears that this may well be the point of “leakage” that Aadhaar, with all its fanfare, is supposed to plug.
The Hindu : Sci-Tech / Technology : What the Aadhaar payment pipe offers
Simple, yet complex: A high-level task force has laid out a blueprint for a single-platform e-payment gateway linked to and enabled by Aadhaar. — File photo: K. Murali Kumar
* Authentication pilots show two per cent ‘false rejects', 8 to 12 seconds response time
Weeks before the Union Budget, a high-level task force on ‘Aadhaar-Enabled Unified Payment Infrastructure', on Thursday, submitted a report laying out a blueprint for a single-platform e-payment gateway to facilitate the transfer of subsidies and payments for various government schemes. This solution, to be linked to and enabled by Aadhaar, is to provide a standard platform for various government institutions so that they can make payments in an automated manner.
An interoperable network of 10 lakh Business Correspondents, who were conceived as the magic wand to address the objective of financial inclusion, is to use the combined infrastructure of banks and India Post, across the 2.25 lakh gram panchayats in the country.
Widely perceived as a precursor to the introduction of cash transfers or direct subsidies, this payment gateway will be implemented by the National Payments Corporation of India, an outfit promoted by leading Indian banks. Another significant component of this proposal is the Unique Identification Authority of India's (UIDAI's) own MicroATM, currently being piloted in rural Jharkhand for the disbursement of wages under the Mahatma Gandhi National Rural Employment Guarantee Act.
Automating payments
So what does implementing this single-platform payment system involve in terms of technology? The process envisaged, though challenging, is basic. It proposes that a government e-payments gateway be set up, implemented by the Controller General of Accounts. This means that the process of transferring funds from the Finance Ministry to various departments, both for Direct Transfer of Subsidies and Electronic Benefit Transfers, will be automated.
To put it simply, the government department will send an encrypted file containing the Aadhaar number and the payment amount to the accredited bank. This is then processed through an interoperable (across banks) Aadhaar Payments Bridge. This bridge sends the information to the National Payments Corporation of India, which interfaces with accredited banks (each Aadhaar number is mapped to beneficiaries' accounts at the backend of this system).
Speaking to The Hindu, deputy director-general, UIDAI, A.P. Singh said such a system would not be tough to implement because “there's very little new stuff”. “Basically, Aadhaar provides the glue to piece existing technologies together. And it simplifies processes, like opening a bank account,” he said.
He pointed out that out of the 200 million enrolments, in its first phase, 84 per cent residents opted to open an Aadhaar-linked bank account. The bridge, he points out, is a simple intervention, where a simple file can be created and uploaded with just the payment amount and the Aadhaar number. “These capabilities are worked out at the NPCI level, and the entire system provides end-to-end visibility, and ensures there is no duplication.”
While this simple single-platform system does not involve either biometrics or authentication, the flagship features of the Aadhaar project, what is being envisaged outside this software layer may be a little more complex. Though the proof-of-concept reports on the pilots in Jharkhand are yet to be made public, Mr. Singh emphasised that it has been “a success”. The false rejection rate, he pegs at around two per cent, which will be “further brought down to 1.2 per cent”. This counters claims by critics who have argued that fingerprint authentication will be a challenge in rural India. “To improve this factor, we are also working out a way for residents to test their best finger,” he added.
Operating on a basic mobile network, Mr. Singh says, the turnaround time to obtain a yes/no authentication message (from the central UIDAI servers) is between eight to 12 seconds. Currently these MicroATMs — which is a basic Point of Sale terminal with a biometric reader — cost around Rs. 10,000-12,000. From March onwards, this pilot will be rolled out in many more districts across the country, he added.
Challenges
Getting the ball rolling on this system will require all government departments and institutions to fully digitise all their payment sanction processes. This itself will be a huge task, a senior official from the Department of Information Technology told The Hindu, adding that the process is already on in several departments.
For instance, in Karnataka, the Government implemented a pilot project for electronic transfer of MNREGA wages in Nelamangala taluk. This “largely successful” pilot programme involved making a database of all job card holders with their bank account numbers, entering digitally encrypted job details and wage lists to the MIS systems, which is then interfaced with a designated bank for cash transfer to beneficiaries.
In the pilot, out of 1,175 total transactions, 1,146 were conducted successfully, said P. Shivshankar, State director, MNREGA. However, the challenges, he conceded were considerable, right from getting beneficiaries to open bank accounts in the designated banks to validating existing data in the informatics system and prepping up the infrastructure requirements.
This task, in the case of the MNREGA financial management system was simpler because there has been an efficient informatics system in place for over three years now. In the case of many other schemes, particularly those run by State Governments across the country, setting up the infrastructure and automating the process will take some time.
While all this may be fine, the weakest link in the chain may well be its last link — the Business Correspondents who are expected to actually make payments to beneficiaries. With the experience with microfinance fresh in the mind, there are fears that this may well be the point of “leakage” that Aadhaar, with all its fanfare, is supposed to plug.
The Hindu : Sci-Tech / Technology : What the Aadhaar payment pipe offers
