Charade & Shadows of India's Currency Remonetization 2016Shantanu Basu
Briefly analyzes India's currency remonetization and concludes that there murky details in the background that do not synch with the stated official objectives.
After rallying for 9 consecutive sessions, markets started flat today with negative bias tracking weak global cues. Amid volatility, Nifty managed to sustain 5600 while Sensex ended just shy of 18500.
Charade & Shadows of India's Currency Remonetization 2016Shantanu Basu
Briefly analyzes India's currency remonetization and concludes that there murky details in the background that do not synch with the stated official objectives.
After rallying for 9 consecutive sessions, markets started flat today with negative bias tracking weak global cues. Amid volatility, Nifty managed to sustain 5600 while Sensex ended just shy of 18500.
NIFTY FIFTY : - The Indian Benchmark Index, Nifty fell 2.12% for the week ended 11 Nov 2016. Volatility was the order of the week with the panic gap down low of 8076 being made on Wednesday on 9th Nov. Morning as it suffered from the double whammy
Demonetization has been a bold step of our present Government. The real result of it on our nation will be seen in coming year. But here is my study on immediate effects of demonetization on various sectors. I hope it helps..
Demonetisation has been a radical, unprecedented step with short term costs and long term benefits. The liquidity squeeze was less severe than suggested by the headlines and has been easing since end-December 2016. A number of follow-up actions would minimize the costs and maximise the benefits of demonetisation. These include: fast, demand-driven, remonetisation; further tax reforms, including bringing land and real estate into the GST, reducing tax rates and stamp duties; and acting to allay anxieties about over-zealous tax administration. These actions would allow growth to return to trend in 2017-18, following a temporary decline in 2016-17.
Prime Minister of India Narendra Modi announced the demonetisation in an unscheduled live televised address at 20:00 Indian Standard Time (IST) on 8 November. In the announcement, Modi declared that use of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series would be invalid past midnight, and announced the issuance of new ₹500 and ₹2000 banknotes of the Mahatma Gandhi New Series in exchange for the old banknotes.
Initially, the move received support from several bankers as well as from some international commentators. It was heavily criticised by members of the opposition parties, leading to debates in both houses of parliament and triggering organised protests against the government in several places across India. The move is considered to have reduced the country's GDP and industrial production. As the cash shortages grew in the weeks following the move, the demonetisation was heavily criticised by prominent economists and by world media.
The government’s goal (and rationale for the abrupt announcement) was to combat India's thriving underground economy on several fronts: eradicate counterfeit currency, fight tax evasion (only 1% of the population pays taxes), eliminate black money gotten from money laundering and terrorist-financing activities, and to promote a cashless economy. Individuals and entities with huge sums of black money gotten from parallel cash systems were forced to take their large-denomination notes to a bank, which was by law required to acquire tax information on them.
The move was heavily criticised as poorly planned and unfair, and was met with protests, litigation, and strikes. If the owner could not provide proof of making any tax payments on the cash, a penalty of 200% of the owed amount was imposed. Prime Minister Narendra Modi’s shock announcement had led to a rush in banks by people and business houses to exchange the old notes, besides sparking a crippling currency shortage
Indicus Products span the entire gamut of Indian economic activity - health, education, markets, income, infrastruture, etc. - at extremely granular levels
The Vision
Delhi - The Gateway to India
Heterogeneity
Aesthetic
Tameez and tahzeeb
In an era of Economic Dynamism
A Simple City to Live, Work and Retire in
An attractive, inclusive city which complements and leads the country
Heritage and Leisure
Where the new is built on the rich heritage in a synergistic manner
Economy
Employment opportunities and access to learning for all
Environment
Civic amenities, clean air, clean water, waterways and parks.
Living and Communities
Where citizens actively participate and make decisions
A systematic and staggered Approach
India’s Political Capital, North India’s commercial center, Growing Knowledge center India’s commercial center, Center for Research, Cultural activities – center for arts Asian commercial center, Cultural Hub, Knowledge Hub 2010 2020 2030 2050 International commercial center, Cultural Hub, Knowledge Hub In 10 years A truly inclusive, cosmopolitan city in name and spirit, Delhi, will lead India’s foray into superpower status In 20 years Intellectual Domain Cultural Domain Commercial Domain Infrastructure Human Capital Interactions Opportunities for all
Capital –> Centre –> Hub 2010 - 2020 Build a base - Center of Knowledge, Culture and Commerce 2020 - 2030 Become an Asian Hub Centre - A point of attraction for business visitors and travelers Hub – place of concentrated activity from where ideas and influences spread
Intellectual domain World Class Universities, Research Institutions, International Conferences Commercial domain Centre of international and regional logistics and trade - Gateway to North India International and regional employment centre Location and source of cutting edge ideas and projects Cultural domain Media, Performing Arts, Museums, Nature and environment Delhi Boasts of all the Potentials that Create A World City Delhi can Lead India
Collaboration of communities and Government Government as The Anchor Communities as The execution partners BHAGIDARI
Citizens and Visitors
Enjoy the facilities
Have a good time
Interact
Existing facilities scaled up
Waterfront developed for recreation
Festivals organized and scaled to higher levels
Old cities as tourism destinations
Communities have a direct stake and responsibility in managing, manning and running the facilities The Government regulates, provides support and encourages execution. Ensures that communities directly involved benefit the most in a transparent manner – employment opportunities, entrepreneurial opportunities, profit sharing ploughed back into development
Opportunities Intellectual Domain Commercial Domain Cultural Domain Opportunities Threats Pressure of In migration Transport Gridlock Communication Gridlock Environment Utilities Pedestrians/ Public transport Legacy Laws International hub for business Centre of education, research Destination for Knowledge industry Gateway to tourism Arts center
NIFTY FIFTY : - The Indian Benchmark Index, Nifty fell 2.12% for the week ended 11 Nov 2016. Volatility was the order of the week with the panic gap down low of 8076 being made on Wednesday on 9th Nov. Morning as it suffered from the double whammy
Demonetization has been a bold step of our present Government. The real result of it on our nation will be seen in coming year. But here is my study on immediate effects of demonetization on various sectors. I hope it helps..
Demonetisation has been a radical, unprecedented step with short term costs and long term benefits. The liquidity squeeze was less severe than suggested by the headlines and has been easing since end-December 2016. A number of follow-up actions would minimize the costs and maximise the benefits of demonetisation. These include: fast, demand-driven, remonetisation; further tax reforms, including bringing land and real estate into the GST, reducing tax rates and stamp duties; and acting to allay anxieties about over-zealous tax administration. These actions would allow growth to return to trend in 2017-18, following a temporary decline in 2016-17.
Prime Minister of India Narendra Modi announced the demonetisation in an unscheduled live televised address at 20:00 Indian Standard Time (IST) on 8 November. In the announcement, Modi declared that use of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series would be invalid past midnight, and announced the issuance of new ₹500 and ₹2000 banknotes of the Mahatma Gandhi New Series in exchange for the old banknotes.
Initially, the move received support from several bankers as well as from some international commentators. It was heavily criticised by members of the opposition parties, leading to debates in both houses of parliament and triggering organised protests against the government in several places across India. The move is considered to have reduced the country's GDP and industrial production. As the cash shortages grew in the weeks following the move, the demonetisation was heavily criticised by prominent economists and by world media.
The government’s goal (and rationale for the abrupt announcement) was to combat India's thriving underground economy on several fronts: eradicate counterfeit currency, fight tax evasion (only 1% of the population pays taxes), eliminate black money gotten from money laundering and terrorist-financing activities, and to promote a cashless economy. Individuals and entities with huge sums of black money gotten from parallel cash systems were forced to take their large-denomination notes to a bank, which was by law required to acquire tax information on them.
The move was heavily criticised as poorly planned and unfair, and was met with protests, litigation, and strikes. If the owner could not provide proof of making any tax payments on the cash, a penalty of 200% of the owed amount was imposed. Prime Minister Narendra Modi’s shock announcement had led to a rush in banks by people and business houses to exchange the old notes, besides sparking a crippling currency shortage
Indicus Products span the entire gamut of Indian economic activity - health, education, markets, income, infrastruture, etc. - at extremely granular levels
The Vision
Delhi - The Gateway to India
Heterogeneity
Aesthetic
Tameez and tahzeeb
In an era of Economic Dynamism
A Simple City to Live, Work and Retire in
An attractive, inclusive city which complements and leads the country
Heritage and Leisure
Where the new is built on the rich heritage in a synergistic manner
Economy
Employment opportunities and access to learning for all
Environment
Civic amenities, clean air, clean water, waterways and parks.
Living and Communities
Where citizens actively participate and make decisions
A systematic and staggered Approach
India’s Political Capital, North India’s commercial center, Growing Knowledge center India’s commercial center, Center for Research, Cultural activities – center for arts Asian commercial center, Cultural Hub, Knowledge Hub 2010 2020 2030 2050 International commercial center, Cultural Hub, Knowledge Hub In 10 years A truly inclusive, cosmopolitan city in name and spirit, Delhi, will lead India’s foray into superpower status In 20 years Intellectual Domain Cultural Domain Commercial Domain Infrastructure Human Capital Interactions Opportunities for all
Capital –> Centre –> Hub 2010 - 2020 Build a base - Center of Knowledge, Culture and Commerce 2020 - 2030 Become an Asian Hub Centre - A point of attraction for business visitors and travelers Hub – place of concentrated activity from where ideas and influences spread
Intellectual domain World Class Universities, Research Institutions, International Conferences Commercial domain Centre of international and regional logistics and trade - Gateway to North India International and regional employment centre Location and source of cutting edge ideas and projects Cultural domain Media, Performing Arts, Museums, Nature and environment Delhi Boasts of all the Potentials that Create A World City Delhi can Lead India
Collaboration of communities and Government Government as The Anchor Communities as The execution partners BHAGIDARI
Citizens and Visitors
Enjoy the facilities
Have a good time
Interact
Existing facilities scaled up
Waterfront developed for recreation
Festivals organized and scaled to higher levels
Old cities as tourism destinations
Communities have a direct stake and responsibility in managing, manning and running the facilities The Government regulates, provides support and encourages execution. Ensures that communities directly involved benefit the most in a transparent manner – employment opportunities, entrepreneurial opportunities, profit sharing ploughed back into development
Opportunities Intellectual Domain Commercial Domain Cultural Domain Opportunities Threats Pressure of In migration Transport Gridlock Communication Gridlock Environment Utilities Pedestrians/ Public transport Legacy Laws International hub for business Centre of education, research Destination for Knowledge industry Gateway to tourism Arts center
Jharkhand as a state is known as a vast reservoir of natural resources in terms of forest areas as well as minerals. However, in spite of this immense potential, it has not been able to utilize them properly and is thus counted among the backward states in the country. Its inheritance is considered to be one of the major reasons for this backwardness which is reflected in the development backlog over the years. The widespread unrest among the naxal community in recent times has further added to the problem. It thus puts a challenge before the state to provide good governance and to enable equitable growth and socio-economic progress. With a population size a third of Bihar and community-centered traditional ethos of tribal people, it will be relatively easier for the nascent state to pass on the benefits of growth to its citizens equally.
The present study makes an attempt to analyze the strengths and weaknesses of the state, objectively using government's own data. Various aspects of Jharkhand's economy and the changes therein over time have been tracked to see the extent of progress in different indicators of growth and development. In each of the aspects, Jharkhand's status in comparison to other states has been discussed. Further, a comparative analysis of various districts of the state has also been presented. Latest available data from various government and semi-government sources have been used for this analysis. Since this study is the fourth in the series, data has been updated from the previous edition, where available.
The study is divided into eight sections each dealing with various issues related to development. Section I focuses on Jharkhand's position vis-à-vis other states in the post-liberalization phase. Section II examines the potential of the IT/ITES sector in the state. The third section of the study explores the quality of governance, examines the knowledge and communication base as well as the socio-economic profile of Jharkhand. The fourth section of the report deals with the intra-state analysis where the districts of the state are compared. The fifth section provides a comparative picture of the parliamentary constituencies in the state in terms of various socio-economic and infrastructure based parameters. Sixth section explores the potential cities of the state while the seventh section gives the state rankings in the eastern zone in terms of various socio-economic variables. Gross domestic product and per capita income of Jharkhand vis-a-vis other states in 2020 has been discussed in the eighth and the final section.
The states, which are being considered for comparison, are in one way or the other, related to Jharkhand. We have considered the parent state of Jharkhand, Bihar, new states that were formed at the same time as Jharkhand, Chhattisgarh and Uttarakhand and the other neighbors of Jharkhand -West Bengal and Orissa. In some cases, where relevant, we have also considered states that have performed significantly well in the area being discussed.
This study is a depiction of the current scenario in Jharkhand across different socio-economic parameters, which will enable readers to understand the various elements crucial for growth and development in the state. It will also provide useful insights to the policy makers to take constructive steps in those areas where the state is lagging behind.
In vendita presso Arredi Lanzini a Concesio(BS) i nuovi prodotti HOME OFFICE di Fiam.
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This Power Point Presentation is based on FOREIGN BANKS & REGIONAL RURAL BANKS. In this Power Point Presentation consists on history, back ground, performance, products, SWOT analysis & findings.
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For making this Power Point Presentation, we made a lot of research, then we made this Power Point Presentation.
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International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
#ChoiceBroking - State Bank of India (SBI), founded in 1806, is the oldest and largest commercial bank in India engaged in providing a range of banking and financial services.
AN OVERVIEW OF BRANCHES AND ATMS OF COMMERCIAL BANKS IN INDIA PARAMASIVANCHELLIAH
AN OVERVIEW OF BRANCHES AND ATMS OF COMMERCIAL BANKS IN INDIA
Dr.C.PARAMASIVAN Assistant Professor of Commerce
G. RAVICHANDIRAN Ph.D. Full Time Research Scholar
PG & Research Department of Commerce Thanthai Periyar Government Arts and Science College
(Autonomous) Tiruchirappalli - 620023.
AN OVERVIEW OF BRANCHES AND ATMS OF COMMERCIAL BANKS IN INDIA PARAMASIVANCHELLIAH
AN OVERVIEW OF BRANCHES AND ATMS OF COMMERCIAL BANKS IN INDIA
Dr.C.PARAMASIVAN Assistant Professor of Commerce
G. RAVICHANDIRAN Ph.D. Full Time Research Scholar
PG & Research Department of Commerce Thanthai Periyar Government Arts and Science College
(Autonomous) Tiruchirappalli - 620023.
AN OVERVIEW OF BRANCHES AND ATMS OF COMMERCIAL BANKS IN INDIA PARAMASIVANCHELLIAH
AN OVERVIEW OF BRANCHES AND ATMS OF COMMERCIAL BANKS IN INDIA
Dr.C.PARAMASIVAN Assistant Professor of Commerce
G. RAVICHANDIRAN Ph.D. Full Time Research Scholar
PG & Research Department of Commerce Thanthai Periyar Government Arts and Science College
(Autonomous) Tiruchirappalli - 620023.
"• National Financial Services Operation hub
• Regional/Functional head quarters for financial service players
• National headquarters for players
• Private banking hub for NRIs/Regional HNWs
• International Micro-finance hub
• International commodity trade hub
• Participation in global capital markets
• Global hub for IT services for financial services sector
• Global hub for BPO services for financial services sector
July 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS :Banking Industry
COMPANY ANALYSIS : ICICI Bank
Concept of the Month
Quiz
Did You Know?
OWNERSHIP STRUCTURE OF COMMERCIAL BANKS IN INDIARAVICHANDIRANG
Banks are the major institutions in any country not only for the economic development but also for social development with respect to meeting basic infrastructure in the country. The Banking system of a country is an important pillar holding up the financial system of the country’s economy. The major role of banks in a financial system is the mobilization of deposits and disbursement of credit to various sectors of the economy. Commercial banks in India are the backbone of all major economic activities in the country, whether it is for the citizens to keep their hard-earned money safely or get loans whenever they need funds for important things like a home, wedding, a car or for business. Therefore, there is a need of understanding banking system and its ownership status.
HDFC Bank Financial Analysis & Industry Comparison 2017Harsh Bohra
Content of this presentation includes Indian Banking Industry Structure, Bank classification in India, Growth of Public & Private Sector Banks in India, Bank Credit & Systemic Credit, Financial Analysis including CASA Ratio, Gross and Net NPA's, ATMs and Branches penetration comparison of HDFC Bank with State Bank of India, Bank of Baroda, ICICI Bank, AXIS Bank and Canara Bank, Deposits & Advances, Interest Incomes & Expanded, Business Model of HDFC Bank, Merger & Acquisition and Revenue Stream and Expansion Plans.
Industry Insights - Financial Performance & Valuation Trendssonalishakya542
In this document you will learn about fifteenth Industry Insight report capturing the financial
performance and valuation trends over 3 year period of “Financial Services Industry”
Similar to Various Facets of Indian Consumer Markets - 2 (20)
Indicus data and analytics solutions help businesses take the right marketing decisions faster and smarter. They provide ready-to-use data and analytics that support strategic decision making at all levels.Indicus products help users locate and select their consumer and market segments, prioritize markets and sales efforts, optimally locate their store or branch, test and experiment with new products, ads and sales tactics.
The critical USP of Indicus products is that they provide insights about the markets and the consumers through highly robust and credible data. The easy-to-use analytical tools and insightful infographics lets users compare, prioritize and choose their best markets instantly.
Moreover different Indicus products allow the users to choose the granularity-level they desire to work in. They can analyze consumer demography and market related data and derive insights at the level of a state, district, cities (of various tiers), block, neighbourhood, pin code, and now as finely as a one square kilometer area. At every geographic level, a range of marketing relevant demographic and economic data, derived from highly authentic public data sources, are analyzed and presented.
The phenomenon of increased urbanization in India is facing one of its foremost challenges in the form of disparity between redistribution of economic opportunity and growth. The centre of poverty is gradually shifting towards urban centres and this situation is further worsened by already high population densities, poor infrastructure and a general lack of effective housing policy and provisioning for the poor. The Census of India 2011 suggests that 66% of all statutory towns in India have slums, with 17.4% of total urban households currently residing. However, this estimate of slums takes into account certain criteria set by the Census for a settlement to be featured as a slum. A large proportion of households who are living in similar or poorer dwelling conditions than those living in slums have been omitted. This study encompasses all those settlements that comply with the definition of slums (as given by the Census of India) as well as those with similar or poorer dwelling conditions that those of slums as ‘Informal Settlements’, because these are primarily dwelling units where most of the urban poor live. Interventions should be targeted at all these informal settlements instead of only slums as defined by the Census, since the quality of life and infrastructure in these informal settlements are similar to those of slums.
The objective of the present study is to look into the contribution of informal settlement households to urban economy. The primary reason for looking at this particular question is to determine whether the informal settlement households, who normally form the poor strata of the urban population, do contribute to the urban economy to a significant extent or not. If they do contribute to urban economy, whether providing proper urban services to them should be treated as their legitimate right? For greater comprehension, this study attempts to discover the role of informal settlement population as a productive agent in urban economy, which is in contrast to the general notion that this section of population is “burden to the city.”
PREDICTING GROWTH OF URBAN AGGLOMERATIONS THROUGH FRACTAL ANALYSIS OF GEO-SPATIAL DATA
Location Analytics is one of the fastest emerging fields in the broad area of Business Intelligence/Data Science. By
some industry estimates, almost 80% of all data has a location dimension to it. Consequently, identification of
trends and patterns in spatially distributed information has far reaching applications ranging from urban planning, to
logistics and supply chain management, location based marketing, sales territory planning and retail store location.
In view of this, we present an approach based on Fractal Analysis (FA) of highly granular geo-spatial data.
Specifically, we use proprietary data available at approximately1 square km level for New Delhi, India provided by Indicus Analytics (India’s leading economic data analytics firm based in New Delhi). We compare and contrast the patterns and insights generated using the FA approach with other more traditional approaches such as spatial to correlation and structural similarity indices. Preliminary results indicate that there are indeed “selfsimilar” local patterns that are completely missed by spatial correlation that are accurately captured by the more sophisticated FA approach. These patterns provide deep insights into the underlying socio-economic and demographic processes and can be used to predict the spatial distribution of these variables in the future. For example, questions such as what are the pockets of population growth in a city and how will businesses and government respond to that growth can be answered using the proposed approach.
India’s strong consumption story relies on its demographic structure, which, at this
point in time, is highly favourable compared to most other emerging nations. As per
the UN population statistics, this favourable demographic dividend will last for another
25–30 years. Before that, most other emerging nations would have already begun to
witness a slowdown in the growth of young (working-age) population.
The ensuing benefits with regard to the rising income and household spending would
provide a significant boost to the consumption-driven growth story of India. A glimpse
of the changing pattern of India’s consumption is already visible in the breakdown
of private final consumption spending data provided by the government. There is
a marked increase in spending on lifestyle products and services such as hotels,
mobiles, transportation and other miscellaneous goods. As against that, spending on
essentials has only remained stable.
International retailers are well aware of these benefits that the Indian economy offers.
Barring few legislative challenges that could be tackled through the policy reforms and
opening up of the retail sector, retailers have often expressed their intention to enter
and invest in India’s attractive retail sector. This is very well reflected in AT Kearney’s
Global Retail Development Index 2012, where India ranks as the fifth most attractive
retail market for international retailers. The retail sector is a significant contributor to India’s economic activity. Though a
direct measurement of the retail sector is difficult to derive through government
statistics, the trade, hotels and restaurant sectors come close to giving us an
estimate of its contribution. That component, in which retail (both organised and
unorganised) is the dominant activity, accounts for around 18% of India’s GDP.
Within the services sector of India, this component is the largest contributor
to the economy. Many institutions, however, may not agree with this possibly
understated measurement of the retail sector, as it may not accurately account
for the unorganised sector. For instance, as per the estimates of the Associated
Chamber of Commerce and Industry (ASSOCHAM) presented in one of its retail
reports of 2012, the contribution of both organised and unorganised retail stood
at 22% of GDP. This would mean that Indian retail sector size should measure
closer to INR 19.2 trillion in 2012. Leading research institutions such as AT
Kearney and ASSOCHAM estimate this sector to grow at around 15% y-o-y over
the next three–five years as against a 12%–13% nominal growth of India’s GDP
estimated by the International Monetary Fund (IMF). Going by that logic, the retail
sector should reach a size of INR 34 trillion by 2016. This is a significant growth.
The sector is also an important contributor towards the socioeconomic well-being
of the economy as it employs close to 9.4% of India’s labour force, as per the
association.
So the Food Security Bill is through. More than two thirds of the country’s population has now been promised highly subsidized food. Congress and UPA will get a couple of extra percent points of votes, add another 2-3 percentage points because of the good monsoons and you get a good enough swing for it to come back next year. The BJP was checkmated as it was impossible for it to play its usual flawless doublespeak.
I am asked what could be bad about ensuring elimination of hunger and malnutrition. I would like to ask a counter question? What is good about theFood Security Bill?
It promises to finally eliminate hunger and malnutrition, they say. How? Because now the poor can buy wheat, rice and coarse cereal at highly subsidized rates. How will the poor be identified I ask; that will happen they say. Where will the poor buy from I ask; the Public Distribution System (PDS)they say. Where? I ask again. The PDS shop, they say. And why will the PDS shop now suddenly start working when it has not for so many decades? Because now it’s a right, and people can demand redressal from the courts, they say.
So let’s grant this – the PDS will now start to function because the government will better use better technology. They will use GIS, GPS, perhaps Aadhar card and biometrics, etc. and this will eliminate the problems that the PDS system has. How will it work? The government will buy grains from production centres, store and transport them to consumption centres, and then sell them at subsidized rates through the public distribution system. Each of these will cost. Of course the PDS system itself will need to be strengthened almost everywhere. This will also cost. The high-tech sounding technology is not costless; the Aadhar number needs biometric identification, etc. etc. All of this will cost a lot. A paper coming from the government’s own Commission for Agri Cost and Prices (CACP) puts the total figure at about 682 thousand crores over a three year period. It is highly unlikely that the government can spend this, and the system cannot work well unless it is implemented very well. Chidambaram fighting his needless forex battles cannot loosen the purse strings. And even if he did, no one in this government has the ability to implement it. And without some serious money backed by serious project management skills the subsidized food will not reach where it is intended to. There will therefore be leakages. The estimated leakage itself is about 200 thousand crore by the CACP. I think it will be more as leakage is not only amount getting diverted, but also the amount wasted. When the numbers are so high it is obvious what kind of people will like to get into politics and into the government, and which ones would stay away.But these are all nitty-gritties of implementation. The Food Security Bill is inherently flawed in many other ways.Who will have control over this whole process?
The Case for Increasing FDI Caps in Insurance
The history of India’s political economy is replete with missed opportunities. The approach to growth and investment has been often stranded in the many romantic notions of selfreliance and what constitutes national interest. In every
decade since Independence, the approach to foreign direct investment has been influenced by a mistrust triggered by a colonial hangover. Every time India has opened its doors – or windows if you please – to foreign investment, it has been characterised by gradualism in the wake of much opposition. The debates around opening or expanding FDI are similar – as it was when telecom or banking opened up for foreign investment. What is important to recognise is that every such initiative has been beneficial, delivering greater common good.
Higher economic growth is driven by competition and consumer choice. Competition drives efficiency and efficiency drives growth. This is true of every country that has done well economically. It is also true of India since 1991, in segments where competition has been introduced. Any attempt to artificially introduce protection always has costs. Inefficient producers are protected, but at the expense of consumers. Consumers suffer from higher prices,bad service and limited choice. This is straightforward under-graduate economic theory. The gains to inefficient producers are more than neutralized by losses to consumers, leading to an overall deadweight welfare loss to the country.
In this argument, the colour of the competition, whether it is domestic or foreign, does not matter. In addition, there is the macroeconomic argument about a current account deficit having to be met through capital account inflows and non-debt-creating FDI inflows are preferable to debt-creating capital inflows. While these broad arguments about competition and FDI are accepted, the question to ask is, why should the insurance sector not be subject to these compelling arguments? Is there anything special about insurance that rational arguments should not be applied to
this sector? In every sector where India has opened up to FDI, be it manufacturing or be it services, two propositions are empirically evident. First, liberalization helps consumers. Second, fears about inefficient producers being eliminated are also vastly exaggerated.
Instead, producers of goods and services adapt and survive, based on access to capital, technology, knowhow, improved management practices and customer orientation. Therefore, protection not only harms the cause of consumers, it also harms the cause of producers. There is no reason why insurance should be treated differently. And economic logic and rationale should not be conditional on whether one is within the government or is in opposition.
The Economic Freedom of the States of India 2012 estimates economic freedom in the 20 biggest Indian states, based on data for 2011. The aim of this report—to measure the level of economic freedom within India—grows out of a larger project begun in the 1980s by the Fraser Institute and culminating in the annual Economic Freedom of the World
report (co-published by the Cato Institute in the United States). That exercise has proved fruitful in establishing a strong empirical relationship between economic freedom and prosperity, growth, and improvements in the whole range of indicators of human well being. The global report has also produced an explosion of research by leading universities, think tanks and international organisations on the critical role of economic freedom to human progress, including its importance to sustaining civil and political liberty. The Cato Institute is pleased to co-publish the present report on India with Indicus Analytics and the Friedrich Naumann Foundation at a time when both India’s high growth prospects and its commitment to reform have come under scrutiny.
The main highlights of this study are as follows.
1. The top state in India in economic freedom in 2011 was Gujarat. It displaced Tamil Nadu, which had been the top state in 2009. Gujarat’s freedom index score has been rising fast, and at 0.64 it is now far ahead of second-placed Tamil Nadu (0.56). Madhya Pradesh (0.56) is close behind in third position, Haryana (0.55) retains fourth position and Himachal (0.53) retains fifth position.
2. The bottom three states in 2011 were, in reverse order, Bihar, Jharkhand and West Bengal. In 2009, the reverse order was Bihar, Uttarakhand and Assam. Uttarakhand has moved up sharply from 19th to 14th position, and this improved freedom is reflected in its average GDP growth rate of 12.82 per cent in 2004-2011, the fastest among all states. This is an impressive achievement for a once-backward state.
3. Earlier the median score for economic freedom for all states had declined from 0.38 in 2005 to 0.36 in 2009. But it has now improved substantially to 0.41 in 2011. This is good news. Still the median score lags way behind Gujarat’s 0.64, so other states have a long way to go.
4. The biggest improvement has been registered by Madhya Pradesh. Its freedom index score rose from 0.42 in 2009 to 0.56 in 2011, enabling it to move up from 6th to 3rd position. This improved economic freedom was associated with acceleration in its GDP growth. This averaged 6 per cent per year from 2004-2009, but then accelerated to 9 per cent per year in 2009-2011.
5. The biggest decline in economic freedom has been recorded by Jharkhand, which slumped from 8th to 19th position. Its score declined from 0.38 to 0.31. Unsurprisingly, its GDP growth has averaged only 4.6 per cent in 2004-2011, one of the lowest among all states . Jharkhand has special problems as a heavily forested state suffering from Maoist insurrections.
Education is clearly important in tapping the so-called demographic dividend. There is nothing automatic about a demographic dividend materializing. Among other things, that is a function of health and education outcomes. More specifically, there is question of skills. The overall skills deficit has often been flagged. For instance, in 2002, the S.P. Gupta Special Group constituted by the Planning Commission stated, “It should be noted, however, that on the average the skilled labour force at present is hardly around 6-8 per cent of the total, compared to more than 60 per cent in most of the developed and emerging developing countries.” In 2001, the Montek Singh Ahluwalia Task Force , again constituted by the Planning Commission, stated, “Only 5% of the Indian labour force in this age category has vocational skills.” While the numbers are marginally different, the Eleventh Five Year Plan document adds the following. “The NSS 61st Round results show that among persons of age 15-29 years, only about 2% are reported to have received formal vocational training and another 8% reported to have received non-formal vocational training indicating that very few young persons actually enter the world of work with any kind of formal vocational training.” Among the youth, most of those with formal training are in Kerala, Maharashtra, Tamil Nadu, Himachal Pradesh and Gujarat. A better indicator of a State’s performance is the share of the young population that has some variety of formal training. In this, Maharashtra, Kerala, Tamil Nadu, Gujarat and Andhra Pradesh perform well. Is this because there is better training capacity and infrastructure? Is it because industrial activity exists in these States? Is it because there is a positive correlation between some minimum level of educational attainment and acquisition of formal training? The answer is probably a combination of various factors.
Growth StoryG rowth is never an end in itself. It is a means to an end, especially because by growth one typically means growth in gross State domestic product (GSDP). In the context of a country, GSDP is akin to GDP (gross domestic product), the total value of goods and services produced in a country over a fixed time period,typically one year. GDP isn’t the same as GNI (gross national income), since GNI also includesnet factor income from abroad. The principle is no different for a State and GSDP is notnecessarily the same as gross state income (GSI). The difference can be important for a Statewhere migration and remittances are major variables. However, having accepted the point, oneis stuck, since no credible estimates exist for GSI. One only has figures on GSDP and mustaccept it as a surrogate indicator. GSDP figures are compiled by Directorates of Economics andStatistics of different State governments. They are then “vetted” by Central StatisticalOrganization (CSO) and finalized. GSDP figures can be in current prices, or in constant prices.If we do not wish to get carried away by inflation, we should focus on constant price numbers.In the present case, this means that everything is expressed in 2004-05 prices.
Indian cement industry has passed through many ups and down. It was under strict
government control till 1982. Subsequently, it was partially decontrolled and in 1989, the
industry was opened for free market competition along with withdrawal of price and
distribution controls. Finally, the industry was completely de-licensed in July 1991 under the
policy of economic liberalization and the industry witnessed spectacular growth in production
as well as capacity.
India's foremost real estate database brought to you by Indicus Analytics and Knight Frank India. Covering thousands of residential, commercial and retail properties of NCR, Mumbai,Chennai, kolkata, bengaluru, pune, hyderabad metropolitan region,
India's foremost real estate database brought to you by Indicus Analytics and Knight Frank India. Covering thousands of residential, commercial and retail properties of NCR, Mumbai,Chennai, kolkata, bengaluru, pune, hyderabad metropolitan region,
The organized sector in India created 346,000 jobs between July and September 2011 and is expected to add another 326,400 by end 2011, according to the latest findings of Ma Foi Randstad Employment Trends Survey – Wave 3.
The survey was conducted among 676 companies across 13 industry segments panning 8 Indian cities. The feedback was gathered from the top HR personnel and senior management of companies, who shared valuable insights on the job creation during the last (July – September) and the current (October – December) quarters of 2011.
The current slowdown in the economy and increasing domestic inflation has resulted in sectoral variation in the employment outlook among sectors and although new jobs continue to be added, it is at a slower pace. According to the survey, the Healthcare sector continues to lead in job generation by adding 60,400 jobs in Q3 (July – September) 2011, followed by Hospitality sector with 48,400 jobs and IT & ITeS sector with 46,600 jobs during the same period.
This is however lesser than the numbers (Healthcare - 63,800 / Hospitality - 54,400 / IT & ITeS - 55,500) predicted at the beginning of the quarter three. These sectors are expected to continue as the lead job generators in the coming quarter with Healthcare expecting to add 58,700 jobs followed by Hospitality & ITeS adding 40,000 plus jobs each.
Among the cities, Mumbai added 28,500 jobs, followed by Delhi & NCR adding 27,000 and Chennai adding 15,500. However, the total job generation by these 3 cities was lower by 6,100 jobs, against the original prediction (Mumbai - 32,300 / New Delhi & NCR – 27,900 / Chennai – 16,900) at the beginning of Q3. These cities are expected to generate a total of 69,200 jobs in the current quarter.
Household consumption patterns depend on many factors, and the age of the chief wage earner is a key determinant. The Indicus Indian Urban Consumer Spectrum classifies urban households into three broad categories: younger years, in which the chief wage earner is predominantly less than 34 years of age; middle years, in which the chief wage earner is mainly in the age group of 35 to 54, and mature years, households in which the chief wage earner is usually over the age of 54.
At each life stage, there are different income and consumption patterns; as the chief wage earner moves into the older years, the family structure also changes. So the category of younger years does not necessarily denote younger households; in fact, households in mature years have more than 40% of its population under the age of 18.
Creating consumer segments by the age of the chief wage earner of the household reveals patterns that are otherwise hidden in data. Take for instance occupations—the sector that employs the highest share of chief wage earners in younger and middle years is manufacturing, which takes up a lower share for chief wage earners in mature years. On the other hand, manufacturing falls to second slot for chief wage earners in mature years; and more interestingly, public administration/defence accounts for the third largest share of employment in this segment. This does point to the changing structure of employment over time, and also gives an indication of the income and consumption behaviour of these households.
Then there is the size of the household—households where the chief wage earner is in his younger years are to a large extent small in size; close to 60% are single member households—the earning member in the city is single or married and living away from his family. This is the smallest segment, comprising less than 15% of urban households, and around 5% of urban population. The largest segment, which accounts for more than 60% of urban households, is those in which chief wage earners are in their mature years; here, a majority have five or more members and almost a quarter have more than two earning members. This, therefore, forms a bulk of urban consumer spends; and, since it includes senior citizens as well as minors, it caters to the needs of all age groups.
The segment in which chief wage earners are in their middle years accounts for more than a quarter of urban households. This segment stands out as the one in which almost all households have minors; this would, therefore, be extremely cued into the needs of growing children—whether it comes to education, food or entertainment, it is in these households that children rule.
The younger years segment feeds into the others as chief wage earners marry, or bring their families to the cities and have children, save to buy houses, two-wheelers, cars and so on, and the maturity of the chief wage earner naturally shows up in higher incomes and asset penetration across the groups.
mall durables—the little items that personalize households and make each home different—can be divided into four main groups: furniture and fixtures, household appliances, recreational goods, and other personal goods including mobile handsets, watches, clocks, plastic goods and decorative items. As a group, they account for less than 2% of total household expenses, as other basic necessities such as food, travel and rent take up the bulk of the budget.
The largest sub-groups in this category are other personal goods and household appliances, accounting for more than 80% and 11%, respectively, of the total expense within the group. There are variations across states. In Chandigarh, Goa and Kerala, household appliances take up close to 20% of the expenses in this category, double the average.
Within this group of small durables, there is a wide variety, with prices and brands to suit every pocket, and as households move up the income ladder, they spend on higher-value items within the group; per-household annual expense on small durables, therefore, rises from Rs. 1,255 on an average in the lowest income segment, which are households earning less than Rs. 1.5 lakh a year, to Rs. 11,807 in the highest income segment of households earning more than Rs. 10 lakh a year.
With technology based solutions seen as key to achieving financial inclusion, the role of e-money becomes important in reaching out to the unbanked masses. While regulatory space in India has been slowing opening up to allow non-banks to act as e-money issuers and prudential norms are in place, regulatory concerns remain regarding the safety of customer funds and the potential impact of e-money on monetary aggregates. The regulator’s dilemma, as described by David Porteous, is whether or not to implement measures that may hinder expansion of access to nonusers in the interest of greater protection for those who already have access, and it is for each country to evolve models and practices appropriate to their economy. It is however instructive to absorb lessons from international experiences that exemplify how regulations can evolve to meet the challenges involved in non-bank e-money issuers, all with the aim of bringing about universal financial inclusion.
Search and Society: Reimagining Information Access for Radical FuturesBhaskar Mitra
The field of Information retrieval (IR) is currently undergoing a transformative shift, at least partly due to the emerging applications of generative AI to information access. In this talk, we will deliberate on the sociotechnical implications of generative AI for information access. We will argue that there is both a critical necessity and an exciting opportunity for the IR community to re-center our research agendas on societal needs while dismantling the artificial separation between the work on fairness, accountability, transparency, and ethics in IR and the rest of IR research. Instead of adopting a reactionary strategy of trying to mitigate potential social harms from emerging technologies, the community should aim to proactively set the research agenda for the kinds of systems we should build inspired by diverse explicitly stated sociotechnical imaginaries. The sociotechnical imaginaries that underpin the design and development of information access technologies needs to be explicitly articulated, and we need to develop theories of change in context of these diverse perspectives. Our guiding future imaginaries must be informed by other academic fields, such as democratic theory and critical theory, and should be co-developed with social science scholars, legal scholars, civil rights and social justice activists, and artists, among others.
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Let's dive deeper into the world of ODC! Ricardo Alves (OutSystems) will join us to tell all about the new Data Fabric. After that, Sezen de Bruijn (OutSystems) will get into the details on how to best design a sturdy architecture within ODC.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualityInflectra
In this insightful webinar, Inflectra explores how artificial intelligence (AI) is transforming software development and testing. Discover how AI-powered tools are revolutionizing every stage of the software development lifecycle (SDLC), from design and prototyping to testing, deployment, and monitoring.
Learn about:
• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
Whether you're a developer, tester, or QA professional, this webinar will give you valuable insights into how AI is shaping the future of software delivery.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Epistemic Interaction - tuning interfaces to provide information for AI support
Various Facets of Indian Consumer Markets - 2
1. Is there a clear relationship between credit growth and market growth?
The fastest growing cities out of 112
Growth rates
(CAGR)
Market Size
Growth
Rate
Deposit
Growth Rate
Credit Growth
Rate
Silvassa 23 14 71
Gandhinagar 22 10 54
Bokaro 19 7 -4
Surat 17 11 18
Thiruvallur 17 11 28
Agartala 16 13 32
Chandigarh 16 13 7
Thanjavur 16 5 20
Kohima 15 9 26
Noida 15 28 43
The slowest growing cities out of 112
Growth rates
(CAGR)
Market Size
Growth
Rate
Deposit
Growth Rate
Credit Growth
Rate
Guntur 8 7 16
Gwalior 8 6 9
Jabalpur 8 3 0
Nellore 8 7 22
Varanasi 8 6 13
Kanpur 7 7 13
Kavaratti 7
Vijayawada 7 7 24
Dhanbad 6 12 15
Kancheepuram 2 16 22
With the exception of Bokaro, and to a certain extent Chandigarh, the 10 fastest growing cities grew
on the back of high credit growth. However, this is not a general rule as a look at the slower growing
cities reveal. Cities such as Vijaywada, Kancheepuram, Nellore and Guntur did not display a robust
growth in spite of high credit growth. Deposit growth, on the other hand is an effect of market growth
and in general grows in the wake of market growth. This is generally borne out by the facts, though a
few notable exceptions exist – Thanjavur, Kohima, Bokaro (among the fast growing cities) and
Dhanbad and Kancheepuram (slow growing cities)
2. Insights into the Financial landscape of the country
Indian Financial Scape provides insights into the financial landscape of the country. It
presents nearly 250 different variables at district level. The product helps enhance a
professional’s understanding of the markets. A few samples of unusual insights are
presented below. There are many more interesting ones available in the product.
Fastest growing districts in terms of Personal Loans (Personal loans, as defined by
RBI includes all loans taken by individuals – secured and unsecured)
Unit %
Year
2001-02 to
2007-08
Personal loans
- growth rate of
SCB`s credit
State District
Karnataka Bangalore Rural 77
Meghalaya West Garo Hills 74
Arunachal Pradesh Changlang 72
Arunachal Pradesh East Siang 72
Arunachal Pradesh Papum Pare 72
Arunachal Pradesh West Kameng 72
Bihar Katihar 72
Uttar Pradesh Sant Kabir Nagar 71
Haryana Jhajjar 70
Assam Hailakandi 69
Gujarat Narmada 69
Haryana Panipat 68
Haryana Rohtak 67
Haryana Sonipat 67
Haryana Faridabad 62
Jammu & Kashmir Pulwama 62
Mizoram Champhai 60
Bihar Araria 57
Chhattisgarh Rajnandgaon 57
Uttar Pradesh Baghpat 56
Arunachal Pradesh is an unusual place. Not much is known about it and it has a small
base. Yet, on a sustained basis, over a 6 year period, four of its districts have figured
among the top 6 districts in India in terms of growth in personal credit. Haryana is
another place which has seen a boom with four of its districts figuring in the top 15.
Fastest growing districts in terms of Professional and other Services credit
Unit % %
Year
2001-02 to
2007-08
2001-02 to
2007-08
Professional &
other Services -
growth rate of
SCB`s credit
Personal
loans -
growth rate of
SCB`s credit
State District
Gujarat Rajkot 51 26
Chhattisgarh Korba 47 34
Punjab Bathinda 47 50
3. Andhra Pradesh Krishna 46 18
Rajasthan Ajmer 46 31
Rajasthan Kota 44 25
Madhya Pradesh Katni 44 12
Chhattisgarh Kanker 44 34
Rajasthan Ganganagar 43 31
Sikkim South Sikkim 42 26
Sikkim North Sikkim 42 53
Arunachal Pradesh Lohit 42 -16
Rajasthan Jodhpur 42 36
West Bengal Haora 42 17
Sikkim East Sikkim 42 16
Rajasthan Sikar 41 51
Orissa Sambalpur 41 34
Haryana Rewari 40 -11
Andhra Pradesh Nalgonda 40 21
Haryana Mahendragarh 40 33
The growth in credit in this category has been much lower than in the personal credit
category. The districts that have grown fastest are those that are not in the top pecking
order, yet they are not very small either. Lohit, in Arunachal Pradesh is unusual
because it shows a negative growth in personal credit. Its possible that personal credit
were routed through Professional credit in reality. Rewari is another standout – high
growth in Professional combining with a negative growth in personal credit.
Fastest growing districts in terms of Trade Credit
Unit %
Year
2001-02 to
2007-08
Trade Credit -
growth rate of
SCB`s credit
State District
Tamil nadu Nagapattinam 49
Chhattisgarh Rajnandgaon 47
Meghalaya Jaintia Hills 44
Haryana Jhajjar 40
Karnataka Bangalore Rural 40
Uttar Pradesh Mahoba 40
Gujarat Kheda 39
Orissa Ganjam 39
Haryana Gurgaon 38
Himachal Pradesh Kinnaur 38
Uttar Pradesh
Gautam Buddha
Nagar 38
Sikkim East Sikkim 37
Jammu & Kashmir Leh (Ladakh) 37
Bihar Madhubani 37
Arunachal Pradesh West Kameng 36
Uttaranchal Rudraprayag 35
West Bengal Medinipur 35
4. Andhra Pradesh Medak 35
Haryana Panchkula 34
Nagaland Mon 34
Economic Risk
The Economic Risk Index is an important variable to consider while doing business. In case of
financial products, it is important for marketers to consider the risks involved in addition to
market size, growth and demography. Indian Financial Scape is a product which has
introduced an Economic Risk index and rated districts based on variables such as
economic offences, credit penetration, and credit overdue per credit of district central
cooperative banks, Gross domestic product, GDP Growth, No. of Industrial Disputes (All
strikes & Lockouts) and Maydays Lost Due to Industrial, Disputes per worker..
The top ranking districts in terms of economic risk
State District
Dadra & Nagar Haveli Dadra & Nagar Haveli
Daman & Diu Daman
Daman & Diu Diu
Lakshadweep Lakshadweep
Madhya Pradesh Neemuch
Madhya Pradesh Jhabua
Rajasthan Ganganagar
Himachal Pradesh Kinnaur
Madhya Pradesh Shajapur
Madhya Pradesh Satna
The worst districts in terms of economic risk
State District
Pondicherry Mahe
Pondicherry Yanam
Pondicherry Pondicherry
West Bengal Kolkata
West Bengal Koch Bihar
West Bengal North 24 Parganas
West Bengal South 24 Parganas
Jharkhand Dumka
Arunachal Pradesh Tirap
West Bengal Puruliya
How are some of the top business centres ranked (out of nearly 600 districts of India)?
District Rank
Hyderabad 177
Delhi 104
Ahmadabad 35
Surat 33
Bangalore 110
Mumbai 72
Mumbai (Suburban) 70
Pune 74
Chennai 111
Coimbatore 112
Kolkata 581
5. Most of the major centres are ranked within the top 30%. However, there are wide
differences. The Western region (Mumbai, Ahmadabad, etc.) are clearly the safest. Kolkata
stands out with a very poor ranking.
6. Demand for Housing
The Housing Skyline of India estimates the demand for housing units in the top 30 cities to
grow by 6.36 million units during the next 7 years leading up to 2015. The current stock of
housing units in these 30 cities is estimated to be 25 million units, which implies a growth in
housing stock of over 25% within 7 years.
Demand between 2008 and 2015
Total Demand
for Housing
Demand for
Plinth Area Less
than 500 Sq ft
Demand for
Plinth Area
Between 500-
1000 Sq ft
Demand for
Plinth Area More
than 1000 Sq ft
Top 10 cities
(alpha) 3,548,000 1,212,000
1,151,00
0
1,186,0
00
Next 20 cities
(beta) 2,815,000 930,000
921,00
0
965,0
00
Top 30 cities
(alpha + beta) 6,363,000 2,142,000
2,072,00
0
2,151,0
00
Current Stock
Current Housing
Stock
Current Housing
Stock - Plinth
Area Less than
500 Sq ft
Current Housing
Stock - Plinth
Area Between
500-1000 Sq ft
Current Housing
Stock - Plinth
Area More than
1000 Sq ft
Top 10 14,624,000 5,829,000
4,337,00
0
4,458,0
00
Next 20 10,413,000 4,179,000
3,145,00
0
3,089,0
00
Top 30 25,037,000 10,008,000 7,482,000 7,547,000
Whereas most of the attention of the building industry is on the upper segment, it is middle
and lower middle India which is driving demand -
• The demand for housing of size less than 1000 sq ft is 4.2 million units over 7 years,
which is 2/3rd
of the demand
• The anticipated growth in percentage terms in the lower segments (24% combined)
is only marginally lower than the upper segment (28.5%)
• The pattern is similar for the alpha (top 10) and beta (the next 20) cities, implying a
uniform demand for affordable housing.
The above pattern indicates that a renewed focus on affordable housing is in order. There is
plenty of demand out there; supply is more likely to be the constraint.
Alpha cities are - Hyderabad, Delhi, Ahmadabad, Surat, Bangalore, Mumbai, Pune, Chennai,
Coimbatore, Kolkata
Beta cities are – Asansol, Bhopal, Faridabad, Indore, Jaipur, Jamshedpur, Kancheepuram,
Kanniyakumari, Kanpur, Kochi, Lucknow, Ludhiana, Madurai, Nagpur, Patna, Salem,
Thiruvallur, Urban Areas in North 24 Parganas, Urban Areas in Thane, Vadodara
The estimation process involved the following steps:
• Demographic parameters such as population across age-groups, change in
household sizes, and family structures were estimated using data from census and
various large scale data surveys.
• This data was used with large scale survey data on housing conditions (NSSO 49th
and 58th rounds) to establish the relationship between housing demand and
demographic parameters.
• Independently the relationship between ownership and income was established.
Estimates of current income and growth from “The Market Skyline of India” were used
to estimate households across income levels for the two time periods.
• One of the major drivers of housing demand is the current and future rental markets.
This in turn is driven by growth in economy, employment and migration trends.
Estimates of GDP, employment growth and migration were used from “The District
Level GDP 2006-07” to define the relationship with housing demand.
7. • Another relationship established was the ease and extent of availability of finance and
housing demand. Data from RBI on housing loans for the last ten years were used to
determine the function.
• All these aspects were then combined to estimate the net demand in housing during
the period 2008-15. They were also used to determine the demand for housing
across various segments including income categories, plinth area, room size, etc.
• The entire exercise was validated at various stages using a primary survey of
households on income, demography, financial habits and housing conditions
conducted in July 2008. Secondary data such as housing stock estimates from NHB,
proposed construction data from various housing boards, etc. were also used to cross
check estimates at various intermediate steps.
8. Financial Asset Penetration
On an average, only 16% of Indian households have taken loans from institutional agencies.
On the other hand, 22% of the households have taken loans from non institutional agencies.
There are two clear indications here – a) the bulk of the population is financially underserved
and rely on informal lending and b) the non institutional agencies have together achieved a
much higher penetration than the institutional agencies.
If we look at another indicator of financial inclusion, namely percentage of households who
hold stocks and debentures, we find that the penetration is just 5%.
There is no doubt that financial inclusion is extremely poor and financial institutions need to
focus more on expanding the market rather than flog the existing markets.
Here are the top districts in terms of penetration of institutional loans. These districts have
penetrations ranging from 37% to 68%. As many as 14 of these 20 are from Kerala. The
districts are Kottayam, Kannur, Idukki, Ernakulam, Pathanamthitta, Kasaragod, Wayanad,
Palakkad, Kollam, Thrissur, Kozhikode, Malappuram, Alappuzha and Thiruvananthapuram
from Kerala and Mahe, Udupi, Satara, Kolhapur, Wardha, Shajapur (MP).
The bottom twenty districts (all less than 1% penetration) are mainly from the hill districts
(Arunachal Pradesh, Manipur, Mehghalaya and J&K - Changlang, East Kameng, Lohit,
Lower Subansiri, Tirap, Dhubri, Kupwara, Bishnupur, Chandel, Churachandpur, Senapati,
Tamenglong, Thoubal, Ukhrul, East Garo Hills, Jaintia Hills, Ri Bhoi, South Garo Hills, West
Garo Hills
The picture changes substantially when one looks at the penetration of non institutional
loans. The top 24 districts have penetration ranging from 50-53%. These are - Tiruchirappalli,
Nagapattinam, Thiruvarur, Thanjavur, Karur, Pudukkottai and Perambalur from Tamil Nadu,
Mahe, Karaikal, Pondicherry, Yanam from Pondicherry, and Prakasam, Srikakulam, West
Godavari, Krishna, Nellore, Guntur, Visakhapatnam, Vizianagaram, East Godavari, Chittoor,
Cuddapah, Anantapur and Kurnool from Andhra Pradesh indicating a clear geographic
pattern.
The bottom districts are again from the hill states. In fact of the bottom 64 (up to 7%
penetration) - 2 are from Andaman and Nicobar, 13 are from Arunachal, 14 are from J&K, 7
from Meghalaya, 8 from Mizoram, 4 from Sikkim, 13 from Uttaranchal, and 3 from West
Bengal.
At a broader level there is a clear need for enhanced services in the hill states. However,
even among the relatively well off districts, it is interesting to note that TN and Andhra seem
to have a very high penetration of non institutional loans as compared to institutional loans –
clearly an area for capturing the low hanging fruits for the formal sector.
9. How many people invest in stocks and shares?
We all know that penetration of shares and debentures is extremely low in India. Just how
low is it? The various data thrown around suggest around 30 million demat accounts. This
however does not account for multiple accounts of investors.
In our product, Indian Financial Scape, we have estimated the number of households (not
individuals) who own shares and debentures at district level. This is based on large scale
household surveys at various points in time conducted by Census of India, NSSO, and
others.
Some of the top line results are as follows:
• Less than 5% of the households, about 12 million in number own shares and
debentures (note: this can translate into anywhere between 20-25 million individuals
and 30-40 million demat accounts)
• Region wise the penetration of shares and debentures (% of households) are – West
5.25%, North 4.52%, South 8.17%, and East 3.2%.
• West is dragged down by Rajasthan (3.6%) and MP (3.2%). The other states in the
West are Maharashtra (8.4%), Gujarat (6.1%) and the combined Goa, Daman and
Diu, Dadra Nagar Haveli (8.2%)
• At state level, the highest penetrations are in:
Delhi Kerala Karnataka Maharashtra
Goa,
Daman,
Dadra
Tamil
Nadu Punjab Haryana
13.00 10.50 8.96 8.37 8.20 7.97 7.00 6.95
• The leading districts in terms of penetration are:
Maharashtra Karnataka Maharashtra Maharashtra Haryana
Mumbai Udupi
Mumbai
(Suburban) Thane Panchkula
27 24 23 20 19
Chandigarh
West
Bengal Goa Karnataka Kerala
Chandigarh Kolkata North Goa Bangalore Ernakulam
19 19 18 18 18
Kerala
Tamil
Nadu Maharashtra Karnataka Karnataka
Thrissur Chennai Kolhapur
Dakshina
Kannada Dharwad
18 18 17 17 17
Andhra
Pradesh Karnataka Kerala Gujarat
Madhya
Pradesh
Hyderabad
Uttara
Kannada Kottayam Ahmadabad Indore
15 15 15 14 14
• The bottom 41 districts in terms of penetration are all from the East
• The bottom 249 districts (42% of the districts) are from the East, hill states or MP,
Rajasthan and UP. In fact, if we ignore the backward areas of Vidarbha and
Panchmahals, then we actually see that the bottom 50% (about 290 districts) are all
from the East, hill states or MP, Rajasthan and UP, clearly indicating an East-West
divide in penetration.
10. Housing Stock and Demand
The Housing Skyline of India estimates the demand for housing units in the top 112 cities to
be 10.5 million units during the next 7 years leading up to 2015. The current stock of housing
units in these cities is estimated to be 41.8 million units, which implies a growth in housing
stock of over 25% within 7 years
Of these 112, the top 30 cities will account for 60% of the demand and are expected to add
6.36 million units during the next 7. The current stock of housing units in these 30 cities is
estimated to be 25 million units.
The top 112 Cities
Figures in
millions
Households with Plinth Area Less than 500 Sq ft 17.0
Households with Plinth Area Between 500-1000 Sq ft 12.5
Households with Plinth Area More than 1000 Sq ft 12.3
Demand for units (2008-2015) for Plinth Area Less than 500 Sq ft 3.5
Demand for units (2008-2015) for Plinth Area Between 500-1000
Sq ft 3.4
Demand for units (2008-2015) for Plinth Area More than 1000 Sq ft 3.7
The top 30 Cities
Figures in
millions
Households with Plinth Area Less than 500 Sq ft 10.01
Households with Plinth Area Between 500-1000 Sq ft 7.48
Households with Plinth Area More than 1000 Sq ft 7.55
Current stock of houses
with plinth area > 1000 sq
feet (figures in ‘000s)
11. Demand for units (2008-2015) for Plinth Area Less than 500 Sq ft 2.14
Demand for units (2008-2015) for Plinth Area Between 500-1000
Sq ft 2.07
Demand for units (2008-2015) for Plinth Area More than 1000 Sq ft 2.15
Whereas most of the attention of the building industry is on the upper segment, it is middle
and lower middle India which is driving demand -
• The demand for housing of size less than 1000 sq ft is 6.2 million units over 7 years,
which is 2/3rd
of the demand
• The anticipated growth in percentage terms in the lower segments (23% combined)
is lower than the upper segment (30%), but on a base which is nearly two and a half
times.
• The pattern is similar for the alpha (top 10) and beta (the next 20) cities, implying a
uniform demand for affordable housing.
The above pattern indicates that a renewed focus on affordable housing is in order. There is
plenty of demand out there; supply is more likely to be the constraint.
12. Demography – Age profile of the top 112 cities of India
The age profile of the top 112 cities (which account for a population of 200 million) does not
show too much variation. 69% are between the age of 18 and 60 and the proportions do not
vary much across different cities. The proportion of the aged in the larger cities is higher but
only marginally.
In sheer numbers, about 36 million people in the top 112 cities are above 60 years of age
and the alpha cities account for 35% of them. The under 18 population is significantly smaller
at about 26 million
under 18
years 18-35 years 35-60 years > 60 years
Alpha (top 10) 12.4% 34.3% 34.7% 18.6%
Beta (11th to 30th) 13.0% 34.7% 34.2% 18.1%
Gamma (31st to
50th) 14.1% 35.9% 32.7% 17.3%
Delta (51st to 112th) 14.3% 36.7% 31.6% 17.3%
Total (112 cities) 13.3% 35.3% 33.5% 17.9%
under 18
years 18-35 years 35-60 years > 60 years
Alpha (top 10) 8,306,888 23,052,698 23,318,890 12,456,128
Beta (11th to 30th) 6,714,661 17,926,723 17,642,448 9,352,400
Gamma (31st to
50th) 4,390,776 11,161,258 10,161,636 5,388,436
Delta (51st to 112th) 7,211,062 18,473,936 15,894,690 8,708,917
Total (112 cities) 26,623,387 70,614,615 67,017,664 35,905,881
8,306,888 6,714,661 4,390,776
7,211,062
23,052,698
17,926,723
11,161,258
18,473,936
23,318,890
17,642,448
10,161,636
15,894,690
12,456,128
9,352,400
5,388,436
8,708,917
Alpha (top 10) Beta (11th to 30th) Gamma (31st to 50th) Delta (51st to 112th)
under 18 years 18-35 years 35-60 years > 60 years
13. 12.4% 13.0% 14.1% 14.3%
34.3% 34.7% 35.9% 36.7%
34.7% 34.2% 32.7% 31.6%
18.6% 18.1% 17.3% 17.3%
Alpha (top 10) Beta (11th to 30th) Gamma (31st to 50th) Delta (51st to 112th)
under 18 years 18-35 years 35-60 years > 60 years
14. Income and Savings in Urban India
The top 112 cities account for about 200 million Indians which is more than 60% of urban India. These
cities constitute a market of consumers whose combined annual incomes are Rs 13.26 billion. Their
combined savings are Rs 3.5 billion which is about 26.5% of income. However there is considerable
heterogeneity in the income and savings pattern across these cities.
If we look at four classes of cities (by size), we get the following picture:
Total Income (Rs
billions)
Total Savings
(Rs billions)
Savings/
Income Ratio
Alpha (Top 10) 5,912 1,296 21.9%
Beta (11th to 30th) 2,887 931 32.2%
Gamma (31st to 50th) 1,774 519 29.3%
Delta (The balance 62) 2,688 771 28.7%
Top 112 cities 13,261 3,516 26.5%
The large cities have a significantly lower savings rate. The top 10 cities have a savings rate of under
22%, whereas the gamma and delta cities (82 in number) have savings rate around 29%. Clearly the
EMI culture hasn’t percolated down to too many cities in India. An interesting piece of statistics is that
the 2nd
rung of cities are the biggest savers – the beta cities save as much as 32% of their income and
reinforce the old adage that savings and investment are the route to growth.
If we look at the same set of data through the regional prism, we get the following picture:
Total Income (Rs
billions)
Total Savings
(Rs billions)
Savings/
Income Ratio
East 2,011 522 25.9%
West 5,167 1,191 23.0%
North 2,849 797 28.0%
South 3,233 1,007 31.1%
The Southerners are by far the largest savers with a savings rate of over 31%. The West (it includes
Rajasthan and MP) has the lowest savings rate of just 23%. Within West, Gujarat is a high saver with
27% savings rate whereas Maharashtra saves only 18%. Madhya Pradesh is a very high saver with
savings rate of 38%.
Contrary to popular wisdom, the North is not exactly spendthrift, they are second only to the South in
savings rate.
What do the figures look like for some of the major cities?
Total Income (Rs
billions)
Total Savings
(Rs billions)
Savings/
Income Ratio
Mumbai 1,608 216 13.4%
Delhi 1,264 289 22.8%
Bangalore 602 192 31.9%
Urban Areas in Thane 569 132 23.2%
Pune 446 111 24.9%
Ahmadabad 429 109 25.3%
Chennai 393 88 22.2%
Kolkata 350 68 19.3%
Surat 318 82 25.8%
Hyderabad 295 87 29.3%
Mumbai has the lowest savings rate. Delhi, Kolkata and Mumbai’s neighbours are also low savers.
Bangalore and Hyderabad are high savers, much higher than average.
The heterogeneity of India is well reflected in the savings patterns. There are no clear regional patterns.
However, it is evident that the economically vibrant cities are lower in savings rate as compared to their
regional brethrens which reinforces the theory that consumerism is one of the key pivots of the recent
surge in economic growth and erosion in consumer confidence will impact economic growth negatively.