Tata Motors launch T1 Prima truck racing championship
22012014- Six teams for the Championship, to participate with a total of 12 PRIMA World Trucks
- Scheduled to be held at BIC, Greater Noida on March 23, 2014
Tata Motors today announced the launch of the T1 PRIMA TRUCK RACING CHAMPIONSHIP to bring truck racing to India for the first time. The first ever truck racing championship in India, has been inscribed on the calendars of FIA (Federation Internationale de l’Automobile) and FMSCI (the Federation of Motor Sports Clubs of India).The Truck Racing Championship will be held on March 23, 2014,at the internationally acclaimed Budh International Circuitto give Indian audiencesa grand spectacle oftruckscompeting against each other.
T1 PRIMA TRUCK RACING CHAMPIONSHIP is being conducted under the aegis of FIA& FMSCI. The FIA is the governing body for world motor sport and the federation of the world’s leading motoring organisations. One of the core responsibilities of the FIA is the development of motor sport worldwide. Through its national member clubs the FIA is involved in every level of motor sport and its remit extends to the millions of amateurs and professionals who enjoy motor sport in all of its variety. The FMSCI is a long-standing member of the FIA and is the only national motor sport federation recognised by the Government of India, for the promotion and control of motor sport in India, and is affiliated to the prestigious Indian Olympic Association.
The championshipwill feature12 Tata PRIMA trucks, built for the purpose. These will be dividedamong six teams,with participationfrom experienced international drivers. The T1 PRIMA TRUCK RACING CHAMPIONSHIPis beingorganised by (MMSCI), with safety and performance standards being followed as per (BTRA) British Truck Racing Association guidelines.
Cummins, WABCO, JK Tyres, Castrol and Accenture are the main sponsors, whileTata Steel, Setco Automotive, RSB Group and TRW Steering Systems Ltd. are the associate sponsors.
Speaking on the occasion, Mr. Karl Slym, Managing Director, Tata Motors said, “Through the T1 PRIMA TRUCK RACING CHAMPIONSHIP, weare introducing yet another pioneering initiative in the Indian trucking space. We at Tata Motors are ready to embark on yet another milestone of HORIZONEXT, with the highest levels of performance and competitiveness of our trucks, to take customer engagement to another level. Formula 1 is the pinnacle of 4-wheeler racing in the world, and we at Tata Motors are taking the initative to make the T1 PRIMA TRUCK RACING CHAMPIONSHIP as the pinnacle of truck racing, in India. With this we are not only adding an exciting new dimension to one of the largest trucking markets in the world, but also connecting our passion for trucks to the larger Indian audience.”
Mr. Ravi Pisharody, Executive Director, Commercial Vehicle Business Unit, Tata Motors said, ”As a leader in the Indian commercial vehicle space, Tata Motors has been leading the transformation in the industry. The Tata Prima marked the arrival of a completely modern truck brand, benchmarked to the global best, with its contemporary styledcabin, power-to-weight ratio, safety aspects, technology, quality and reliability.T1 PRIMA TRUCK RACING CHAMPIONSHIP isa great platform to showcase thesetechnological advancements, through performance excellence, alsoenabling Tata Motors to connect with its fleet customers, many of them being well-travelled, well-educated second generation business owners, looking to add excitement to their business. Through this initiative we also hope to triggergreater aspiration for trucking, given the industry is facing a serious dearth of truck drivers.”
Tata Prima 4038.Swill competein the T1 PRIMA TRUCK RACING CHAMPIONSHIP 2014,with the massive power of 370 BHP @ 2100 RPM and a top speed of 110 Km/h. To make these Prima trucks fit for racing, 22 key modifications were made to meet a mix of safety and performance needs as per guidelines from British Truck Racing Association.These included significant changes in fuel tank, brake cooling system, propeller shaft guards, racing seats and safety belts, exhaust, steering wheel among others.The trucks have gone through multiple quality checks and also tested on the test circuit at Jamshedpur for high speed run and control.
Buddh International F1 Circuit, acclaimed to be the best race circuit in India, will host the inaugural T1 PRIMA TRUCK RACING CHAMPIONSHIP. On the Race day, there will be two races.The first one a qualifier race, followed by the main race, seeinga rolling start ofbig Tata Prima race trucks. A pool of internationally acclaimed drivers, with proven excellence in the field of Truck Racinglike British Truck Racing championship and European Truck Racing championship, has been created for this mega event.
The T1 PRIMA TRUCK RACING CHAMPIONSHIPwill also witness two-time British truck racing champion, Steve Horne.As one of the most celebrated, longest serving truck racing drivers, Steve Horne has been instrumental in multiple operational aspects of India’s first truck racing championship.A historic event even from the FIA point of view who have been encouraging India to expand its footprint in motorsports globally.
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RBI Expert Committee’s Recommendations
22012014
RBI Expert Committee’s Recommendations on strengthening monetary policy framework
(The RBI’s liquidity management operations should strive to ensure consistency with the stance of monetary policy. Accordingly, an increase in the policy rate to convey an anti-inflation policy stance should be accompanied by tightening of liquidity conditions through liquidity management operations, whereas an easing of the policy stance should be associated with accommodative liquidity condition)
An Expert Committee to revise and strengthen the Monetary Policy Framework was appointed by Reserve Beak of India on September 12, 2013. The main objective of the Committee is to recommend what needs to be done to revise and strengthen the current monetary policy framework with a view to, inter alia, making it transparent and predictable. Following are the recommendations on strengthening monetary policy framework: -
Nominal anchor - Drawing from the review of cross-country experience, the appraisal of India ’s monetary policy against the test of outcomes and the recommendations made by previous committees, the Committee recommends that inflation should be the nominal anchor for the monetary policy framework. This nominal anchor should be set by the RBI as its predominant objective of monetary policy in its policy statements. The Committee recommends that the RBI should adopt the new CPI (combined) as the measure of the nominal anchor for policy communication. The nominal anchor should be defined in terms of headline CPI inflation, which closely reflects the cost of living and influences inflation expectations relative to other available metrics.
The Committee recommends that the nominal anchor or target should be set at 4% with a band of +/- 2% around it with a view of the vulnerability of the Indian economy to supply/ external shocks and the relatively large weight of food in the CPI; and the need to avoid a deflation bias in the conduct of monetary policy. This target should be set in the frame of a two-year horizon that is consistent with the need to balance the output costs of disinflation against the speed of entrenchment of credibility in policy commitment. Since food and fuel account for more than 57% of the CPI on which the direct influence of monetary policy is limited, the commitment to the nominal anchor would need to be demonstrated by timely monetary policy response to risks from second round effects and inflation expectations in response to shocks to food and fuel.
Inflation across countries (in %)
Source: World Economic Outlook, IMF; RBI (for India ), Note: Indian inflation pertains to financial year (April-March)
Institutional requirements - Consistent with the Fiscal Responsibility and Budget Management (Amendment) Rules, 2013, the Central Government needs to ensure that its fiscal deficit as a ratio to GDP is brought down to 3% by 2016-17. Administered setting of prices, wages and interest rates are significant impediments to monetary policy transmission and achievement of the price stability objective, requiring a commitment from the government towards their elimination.
Addressing impediments to transmission of Monetary Policy— Consistent with the time path of fiscal consolidation Statutory Liquidity Ratio (SLR) should be reduced to a level in consonance with the requirements of liquidity coverage ratio (LCR) prescribed under the Basel III framework. Government should eschew suasion and directives to banks on interest rates that run counter to monetary policy actions.
Small Savings Schemes – More frequent intra-year resets of interest rates on small saving instruments, with built-in automaticity linked to benchmark G-sec yields, need to be brought in. Also, the benchmark should be based on average of the previous six months or even shorter intervals so as to better capture changes in interest rate cycles within a year.
Taxation – All fixed income financial products should be treated on par with bank deposits for the purpose of taxation and TDS. Further, the tax treatment of FMPs and bank deposits should also be harmonized.
Subventions – With a sharp rise in the ratio of agricultural credit to agricultural GDP, the need for subventions on interest rate for lending to certain sectors would need to be re-visited.
Further the Committee recommends that unless the cost of banks’ liabilities moves in line with the policy rates as do interest rates in money market and debt market segments, it will be difficult to persuade banks to price their loans in response to policy rate changes. Hence, it is necessary to develop a culture of establishing external benchmarks for setting interest rates based on which financial products can be priced. Ideally, these benchmarks should emerge from market practices. However, the Committee is of the view that the Reserve Bank could explore whether it can play a more active supportive role in its emergence. The RBI’s liquidity management operations should strive to ensure consistency with the stance of monetary policy. Accordingly, an increase in the policy rate to convey an anti-inflation policy stance should be accompanied by tightening of liquidity conditions through liquidity management operations, whereas an easing of the policy stance should be associated with accommodative liquidity conditions. The Committee is also of the view that there should be close coordination between the settings of monetary policy and macro-prudential policies, since variations in macro-prudential instruments such as capital buffers, provisions, loan-to-value ratios and the like impacts the cost structures and lendable resources of banks, thereby impacting monetary transmission. OMOs have to be detached from fiscal operations and instead linked solely to liquidity management. OMOs should not be used for managing yields on government securities.
Conduct of Monetary Policy in a Globalised Environment—In view of the cross country and Indian experience with global spillovers driving episodes of large and volatile capital inflows as well as outflows, a flexible setting of monetary policy by the RBI in the short-run is warranted. This presages readiness to use a range of instruments at its command, allowing flexibility in the determination of the exchange rate while managing volatility through capital flow management (CFM) and macro-prudential measures (including sector specific reserve requirements). With regard to inflows that are excessive in relation to external financing requirements and the need for sterilized intervention: (a) the RBI should build a sterilization reserve out of its existing and evolving portfolio of GoI securities across the range of maturities, but accentuated towards a ‘strike capability’ to rapidly intervene at the short end; and (b) the RBI should introduce a remunerated standing deposit facility, which will effectively empower it with unlimited sterilization capability.
As a buffer against outflows, the RBI’s strategy should be to build an adequate level of foreign exchange reserves, adequacy being determined not only in terms of its existing metrics but also in terms of intervention requirements set by past experience with external shocks and a detailed assessment of tail events that materialized in the country experiences. As a second line of defence, swap arrangements, including with regional financing initiatives, should be actively pursued. While retaining the flexibility to undertake unconventional monetary policy measures as demonstrated in response to announcement effects of QE taper but with clarity in communication and better co-ordination, the Committee recommends that the RBI should respond primarily through conventional policy measures so as to ensure common set of shared expectations between the markets and the RBI, and to avoid the risk of ‘falling behind the curve’ subsequently when the exceptional measures are unwound. In addition to the above, the RBI should engage proactively in the development of vibrant financial market segments, including those that are missing in the spectrum, with regulatory initiatives that create depth and instruments, so that risks are priced, hedged, and managed onshore.
Warm regards,
Dr. S P Sharma
Chief Economist
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REPORT ON ELECTION EXPENDITURE STATEMENTS DECLARED BY MLAS
22012014
REPORT ON ELECTION EXPENDITURE STATEMENTS DECLARED BY MLAS OF
DELHI
,
CHHATTISGARH, MADHYA PRADESH, RAJASTHAN
AND MIZORAM DURING ASSEMBLY ELECTIONS HELD IN NOVEMBER-DECEMBER 2013
This report is based on the analysis of the self declared election expenditure statements (money spent during elections by MLAs) provided by the MLAs and submitted to Election Commission of India (ECI). The self declared election expenditure statements of MLAs have been accessed from the Chief Electoral Officer (CEO) website of each state. 596 out of 630 MLAs have been analysed in this report. (The rest were not analysed due to the unavailability of their expense statements on the CEO website at the time of the making of this report).
Detailed report in English and Hindi are attached along with this mail
Summary
1. Average Election Expenditure Declared by MLAs: The newly elected MLAs to these assemblies (Chhattisgarh, Mizoram, Rajasthan, Madhya Pradesh and Delhi) have shown the average election expenditure declared to be only between Rs 4.39 lakhs (Mizoram) and Rs 8.46 lakhs (Chhattisgarh) in their declarations to the Election Commission of India.
State
|
Total MLAs
|
No. of MLAs Analysed
|
Expense Limit (in Rs.)
|
Average Election Expenses (in Rs.)
|
% of Expense Limit (Average Election Expenses/Expense Limit)
|
Chhattisgarh
|
90
|
83
|
16,00,000
(16 Lakhs)
|
8,46,936
(8.46 Lakhs)
|
53%
|
Delhi
|
70
|
67
|
14,00,000
(14 Lakhs)
|
7,16,744
(7.16 Lakhs)
|
51%
|
Madhya Pradesh
|
230
|
209
|
16,00,000
(16 Lakhs)
|
7,64,717
(7.64 Lakhs)
|
48%
|
Mizoram
|
40
|
39
|
8,00,000
(8 Lakhs)
|
4,39,576
(4.39 Lakhs)
|
55%
|
Rajasthan
|
200
|
198
|
16,00,000
(16 Lakhs)
|
7,33,810
(7.33 Lakhs)
|
46%
|
Table: Average election expense of each state
2. State – Wise Election Expenditure Declared by MLAs:
a) 338 MLAs out of 596 (57%) analysed have declared that the money spent by them was less than 50% of the limit.
b) Only 17 out of 596 MLAs (3%) analysed have declared that they have spent more than 80% of the expense limit.
State
|
Total MLAs
|
No. of MLAs Analysed
|
No of MLAs who spent less than 50% of Limit
|
% of MLAs who spent less than 50% of Limit
|
No of MLAs who spent more than 80% of the Limit
|
% of MLAs who spent more than 80%
|
Expense Limit (in Rs.)
|
Chhattisgarh
|
90
|
83
|
32
|
39%
|
1
|
1%
|
16,00,000
(16 Lakhs)
|
Delhi
|
70
|
67
|
34
|
51%
|
4
|
6%
|
14,00,000
(14 Lakhs)
|
Madhya Pradesh
|
230
|
209
|
129
|
62%
|
4
|
2%
|
16,00,000
(16 Lakhs)
|
Mizoram
|
40
|
39
|
16
|
41%
|
4
|
10%
|
8,00,000
(8 Lakhs)
|
Rajasthan
|
200
|
198
|
127
|
64%
|
4
|
2%
|
16,00,000
(16 Lakhs)
|
Total
|
630
|
596
|
338
|
57%
|
17
|
3%
|
Table: State –Wise Expenses of MLAs
3
. Election Expenditure declared by Chief Ministers of State: The highest election expenditure declared by a Chief Minister of the five states analysed is Rs. 10,61,477 (66% of the expense limit) by Vasundhra Raje from Rajasthan. The lowest election expenditure declared by a Chief Minister is Rs. 3,99,953 (29% of the expense limit) by Arvind Kejriwal from Delhi.
State
|
Expense Limit
|
Chief Minister
|
Constituency
|
Election Expenses Declared
(in Rs.)
|
% of Expense Limit
(Average Election Expenses/Expense Limit)
|
Chhattisgarh
|
16,00,000
|
Raman Singh
|
Rajnandgaon
|
8,16,390
(8.16 Lakhs)
|
51%
|
Madhya Pradesh
|
16,00,000
|
Shivraj Singh Chouhan
|
Budhni
|
10,10,001
(10.10 Lakhs)
|
63%
|
Vidisha
|
9,77,495
(9.77 Lakhs)
|
61%
| |||
Mizoram
|
8,00,000
|
Lal Thanhawla
|
Serchhip
|
3,50,809
(3.50 Lakhs)
|
44%
|
Hrangturzo
|
4,60,220
(4.60 Lakhs)
|
58%
| |||
Rajasthan
|
16,00,000
|
Vasundhra Raje
|
Jhalrapatan
|
10,61,477
10.61 Lakhs)
|
66%
|
Delhi
|
14,00,000
|
Arvind Kejriwal
|
New Delhi
|
3,99,953
(3.99 Lakhs)
|
29%
|
Table: Expenses declared by Chief Ministers of State
4. Election expenditure declared by Ministers: The Ministers from Chhattisgarh, Madhya Pradesh, Rajasthan, Delhi and Mizoram have declared on an average, election
expenditure of 3.57 Lakhs (Mizoram) to 8.07 Lakhs (Delhi) i.e on an average 45% to 58% of the average expense limit. The average election expenditure declared by the ministers is as follows:
a) 9 Ministers of Chhattisgarh declared an average election expenditure of Rs. 8.33 Lakhs (53% of expense limit)
b) 22 Ministers of Madhya Pradesh declared an average election expenditure of Rs. 8.07 Lakhs (50% of expense limit)
c) 12 Ministers of Rajasthan declared an average election expenditure of Rs. 7.64 Lakhs (48% of expense limit)
d) 12 Ministers of Mizoram declared an average election expenditure of Rs. 3.57 Lakhs (45% of expense limit
e)
6 Ministers of Delhi declared an average election expenditure of Rs. 8.07 Lakhs (58% of expense limit).
5. Combined election expenditure declared by all MLAs from all five states: 3 out of 5 states have shown highest declared election expenditure by newly elected MLAs on Vehicles Used. The lowest election expenditure by all MLAs analysed in all five states has been on Expense on Visit of Other Party Functionaries.
a) Chhattisgarh: 38% of total expenses during Chhattisgarh Elections incurred by all 83 MLAs together, was spent onVehicles Used. 25% of expenses were incurred on Campaign Materials. 10% was spent on visits of Campaign Workers.
b) Delhi: 23% of the total expenses during Delhi Elections incurred by all 67 MLAs together, was spent on other Public Meetings and Processions. 22% of declared election expenditure was on Miscellaneous and 22% was on Campaign Materials by all Delhi MLAs analysed.
c) Madhya Pradesh: 44% of the total expenses during Madhya Pradesh Elections incurred by all 209 MLAs together, was spent on use of vehicles. 19% of expenses were incurred on Campaign Materials. 10% of total expenses during Madhya Pradesh Elections was spent on Public Meetings and Processions.
d) Rajasthan: 32% of the total expenses during Rajasthan Elections incurred by all 198 MLAs together, was spent on use of Vehicles. 22% and 15% of expenses incurred were on Other Miscellaneous Expenses and Public Meetingsrespectively.
e)
Mizoram: 26% of the total expenses during Mizoram Elections incurred by all 39 MLAs together, was spent onCampaign Workers. 23% of expenses incurred were on use of Vehicles. 16% of expenses were incurred on Other Miscellaneous Expenses. 11% of total expenses during Mizoram Elections was spent on Campaign Materials.
6. Election expenditure declared on Public Meetings and Processions: 49 MLAs out of 596 analysed (8%) declared zero election expenditure on public meetings,
processions etc. The average expenses declared on Public Meetings and Processions by 596 MLAs from the five states falls between Rs. 20,361 (Mizoram) to Rs 1,64,791 in Delhi.
a) 7 MLAs from Chhattisgarh declared zero election expenditure on public meetings, processions etc.
b) 1 MLA from Delhi declared zero election expenditure on public meetings, processions etc.
c) 8 MLAs from Madhya Pradesh declared zero election expenditure on public meetings, processions etc.
d) 10 MLAs from Rajasthan declared zero election expenditure on public meetings, processions etc.
e) 23 MLAs from Mizoram declared zero election expenditure on public meetings, processions etc.
7
. Expense on Campaigning through electronic/print media: 210 MLAs out of 596 analysed (35%) declared zero election expenditure on Electronic/Print Media.
The average expenses declared on electronic and print media by 596 MLAs from the five states falls between Rs. 8,636 (Mizoram) to Rs 67,932 (Rajasthan).
a) 44 MLAs from Chhattisgarh declared zero election expenditure on Electronic/Print Media
b) 24 MLAs from Delhi declared zero election expenditure on Electronic/Print Media
c) 87 MLAs from Madhya Pradesh declared zero election expenditure on Electronic/Print Media
d) 29 MLAs from Rajasthan declared zero election expenditure on Electronic/Print Media
e) 26 MLAs from Mizoram declared zero election expenditure on Electronic/Print Media.
8
. Expense on Campaign Workers: 239 MLAs out of 596 analysed (40%) declared zero election expenditure on Campaign Workers. The average expenses
declared on Campaign Workers by 596 MLAs from the five states falls between Rs. 22,602 (Rajasthan) to Rs 1,17,800 (Mizoram).
a) 12 MLAs from Chhattisgarh declared zero election expenditure on Campaign Workers
b) 20 MLAs from Delhi declared zero election expenditure on Campaign Workers
c) 41 MLAs from Madhya Pradesh declared zero election expenditure on Campaign Workers
d) 155 MLAs from Rajasthan declared zero election expenditure on Campaign Workers
e) 11 MLAs from Mizoram declared zero election expenditure on Campaign Workers
9
.
Expense on Vehicles Used: Shoaib Iqbal from Delhi and Gyan Singh from Madhya Pradesh declared zero expenses on use of vehicles. 42 MLAs out of 596 analysed (7%) declared that they spent less than 10% of their total expenses on Vehicles Used. Theaverage expenses declared on Vehicles Used by 596 MLAs from the five states falls between Rs. 1,01,914 (Delhi) to Rs 3,40,086 (Madhya Pradesh).
a) 2 MLAs from Chhattisgarh declared less than 10% election expenditure (out of total expenses declared) on Vehicles Used.
b) 19 MLAs from Delhi declared less than 10% election expenditure (out of total expenses declared) on Vehicles Used.
c) 4 MLAs from Madhya Pradesh declared less than 10% election expenditure (out of total expenses declared) on Vehicles Used.
d) 9 MLAs from Rajasthan declared less than 10% election expenditure (out of total expenses declared) on Vehicles Used.
e) 8 MLAs from Mizoram declared less than 10% election expenditure (out of total expenses declared) on Vehicles Used.
10
. Expense on Campaign Materials and Erection of gates, arches etc.: 2 MLAs, Arvind Kejriwal and Vinod Kumar Binny from Delhi have declared zero expenses on
Campaign Materials. 94 MLAs out of 596 analysed (16%) declared that they spent less than 10% of their total expenses on Campaign Materials. The average
expenses declared on Campaign Materials by 596 MLAs from the five states falls between Rs. 90,857 (Mizoram) to Rs 1,70,557 (Madhya Pradesh).
a) 3 MLAs from Chhattisgarh declared less than 10% election expenditure (out of total expenses declared) on Campaign Materials.
b) 8 MLAs from Delhi declared less than 10% election expenditure (out of total expenses declared) on Campaign Materials.
c) 34 MLAs from Madhya Pradesh declared less than 10% election expenditure (out of total expenses declared) on Campaign Materials.
d) 46 MLAs from Rajasthan declared less than 10% election expenditure (out of total expenses declared) on Campaign Materials.
e)
3 MLAs from Mizoram declared less than 10% election expenditure (out of total expenses declared) on Campaign Materials.
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011 4165 4200,
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adr@adrIndia.org,
anilverma@adrindia.org
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IIM Ahmedabad (Retd.)
Founder Member,
National Election Watch, Association for Democratic
Reforms
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IIM Bangalore
Founder Member,
National Election Watch,
Association for Democratic Reforms
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“GOAL 2014” and INDIA SPORTS and INDIA FOOTBALL AWARDS
22012014
Rajpal Singh
Director
January 22, 2014
Dear Sir / Madam,
“GOAL 2014” and INDIA SPORTS and INDIA FOOTBALL AWARDS
2nd International Convention on Football Business
13-14 FEBRUARY, 2014
Federation House, Tansen Marg, New Delhi
Amongst our various initiatives to promote sports development in India, one of our focus areas is to promote the growth and sustainability of the Indian football industry. To take this agenda forward, we are organizing the second edition of FICCI GOAL, scheduled for 13-14 FEBUARY, 2014 at Federation House, Tansen Marg, New Delhi.
FICCI GOAL 2014, supported by the All India Football Federation, is the biggest convention on the business of football hosted in India and brings together hundreds of key influencers within the global and Indian football industries for 2 days of strategic dialogue around the beautiful game. During the conference various topics will be discussed including generating ROI through football, creating an Indian football ecosystem, CSR & grassroots football in India and how India prepares for the 2017 FIFA U-17 World Cup.
In addition to senior representatives of FIFA, AFC and other international organisations, we are also expecting attendance from senior officials from the Ministry of Youth Affairs & Sports, Government of India, Sports Authority of India (SAI), State ministry, State federations, leading brands, international and national football clubs and personalities.
“GOAL 2014” will comprise of Conference, Exhibition, B2B, and Lunch and Dinner etc. We are expecting more than 400+ delegates comprising leading corporate besides FIFA, AFC, AFDP, International Bodies, All India Football Federation and State Football Associations.
Please refer to the attached conference brochure (click here to download) for more information on FICCI GOAL, INDIA SPORTS and INDIA FOOTBALL AWARDS 2014.
Kindly register now. Look forward to welcome you.
With Best Regards,
Yours sincerely,
(Rajpal Singh)
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Global unemployment increased by 5 million people in 2013 reports ILO
22012014
DEAR ALL
(Global employment grew by a mere 1.4% in 2013, lower than in any year of the pre-crisis decade)
According to the ILO, employment in India expanded by a healthier 13.9 million from 2009 /10 to 2011/12, though many of these jobs are in the informal economy.
The uneven economic recovery and successive downward revisions in economic growth projections have had an impact on the global employment situation. Almost 202 million people were unemployed in 2013 around the world, an increase of almost 5 million compared with the year before. This reflects the fact that employment is not expanding sufficiently fast to keep up with the growing labour force. If current trends continue, global unemployment is set to worsen further, albeit gradually, reaching more than 215 million jobseekers by 2018. During this period, around 40 million net new jobs would be created every year, which is less than the 42.6 million people that are expected to enter the labour market every year.
Young people continue to be particularly affected by the weak and uneven recovery. It is estimated that some 74.5 million young people – aged 15–24 – were unemployed in 2013; that is almost 1 million more than in the year before. The global youth unemployment rate has reached 13.1% which is almost three times as high as the adult unemployment rate. Indeed, the youth-to-adult unemployment ratio has reached a historical peak level.
As the recovery remains weak, the average length of unemployment spells has increased considerably. In many advanced economies, the duration of unemployment has doubled in comparison with the pre-crisis situation which is also detrimental to the speed of labor market recovery even when economic activity is set to accelerate.
Labour force participation rates are not improving and remain more than 1% point below the pre crisis level. The number of people in vulnerable employment expanded by around 1% in 2013, which is five times higher than during the years prior to the crisis.
In 2013, the number of workers in extreme poverty declined by only 2.7% globally, one of the lowest rates of reduction over the past decade. In 2013, 375 million workers (or 11.9 per cent of total employment) are estimated to live on less than US$1.25 per day and 839 million workers (or 26.7 per cent of total employment) have to cope with US$2 a day or less.
Informal employment remains widespread in most developing countries, although regional variations are sizeable and is likely to constitute a barrier to a sustainable further reduction in poverty.
This is considered that a rebalancing of macroeconomic policies and increased labour incomes would significantly improve the employment outlook. In high income G20 countries, such a rebalancing could reduce unemployment by 1.8% by 2020 which corresponds to 6.1 million additional jobs. This would also support fiscal goals.
This is also stated that monetary policy continues to be accommodative, providing a beneficial stimulus to aggregate demand. However, recent trends indicate that an increasing share of the additional liquidity generated by accommodative monetary policy is flowing into asset markets rather that into the real economy. This is generating the risk of future stock and housing price bubbles, potentially weighing on sustainable job receovery.
With 23 million people estimated to have dropped out of the labor market due to discouragement and rising long-term employment, active labour market policies (ALMP) need to be implemented more forcefully to address inactivity and skills mismatch. Indeed, with more and more potential workers becoming discouraged and remaining out of the labour force, the risk of skills degradation and obsolescence is increasing. However, currently only small amounts of public spending go into active labour market measures. Estimates show that by bringing spending up to 1.2 per cent of GDP, similar to those countries that spend the most on ALMP, an additional 3.9 million jobs could be created in the Developed Economies and European Union region.
In the case of India, ILO report said , though it has been argued that the country was experiencing “jobless growth” due to the fact that total employment grew by only 1.1 million from 2004/05 to 2009/10 (based on the National Sample Survey), representing an employment elasticity of almost zero. More recently, however total employment inIndia expanded from 2009 /10 to 2011/12 by a much healthier 13.9 million, though many of these jobs are in the informal economy.
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FINAL COUNT DOWN ON NACH BALIYE-6!
22012014
This Saturday we will watch the couples of Nach Baliye-6 burn the dance floor with some of the most energetic, dynamic and popular dance groups. Gurmeet Debina will be seen with Fictitious group, Asha Ritwik with Loyola Dream Team, Ripu Shivangi with D Maniax, Kiku Priyanka with winners of IndiaⳠdancing superstar MJ 5 last but not the least Vinod Raksha with Rohan and Group. The couples will be seen dancing in the same styles as the groups. While there will be some action packed performances and dancing by the judges find out who will leave the stage at this point on Nach Baliye
Donⴠworry the action will still continue on Sunday as the stars of Hansi Toh Phansi, Parineeti and Siddharth will come on the show for the promotion of their movie. While Siddharth will be seen dancing with Sexy mom and judge Shilpa Shetty Kundra, Parineeti will entertain the audience with her singing;. This is not all find out what made the bully actress cry on Nach Baliye-6. This Sunday will be the final performance of the top four couples as they will appeal for the final time to the༯span>audience for vote before the finale on 1st February.༯span>༯span>
To find out who are the top 4 couples and what fun the judges and the couples had with the groups and the guest tune in to Nach Baliye- 6 this weekend at 9 pm only on STAR Plus!༯span>
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ART WORKS IN MOTION
22012014
On the occasion of the 6th Edition of
INDIA ART FAIR
THE ITALIAN EMBASSY CULTURAL CENTRE
is pleased to invite you to the exhibitions
OUTPOST
(Part of the showing from the Venice Biennale 2013)
by
SAMAR SINGH JODHA
&
ART WORKS IN MOTION
Gaze upon him inebriated by such wondrous wine.
He moves sideways like a queen on the chessboard.
(Maulana Jalalu-’d-din Muhammad i Rumi
from Masnavi i Ma’navi)
by
MARCO BAGNOLI
Friday 24th January 2014, 7:00 p.m. onwards
The books that have inspired the two exhibitions
Samar Singh Jodha’s OUTPOST & Marco Bagnoli’s RUOTA DEL TEMPO
will be released on the occasion
Italian Embassy Cultural Centre – New Delhi
50 – E, Chandragupta Marg,
50 – E, Chandragupta Marg,
(Entry from Nyaya Marg) Chanakyapuri, New Delhi – 110 021
The exhibitions will be on view till Friday 28th February 2014
From Monday through Friday – 11am to 6.00 pm
Saturday – Sunday – 11am to 3.00 pm
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