Thursday, 28 February 2013

Budget highlights

2/28/2013 07:16:00 pm GENERAL No comments

Budget highlights

Finance Minister P. Chidambaram presented one of the most highly anticipated Indian budgets of recent years on Thursday, as the government looks to rein in a bloated fiscal deficit and restore confidence in Asia's third-largest economy.

Keynotes

No revision of personal income tax slabs; relief in first bracket through tax credit of Rs.2,000 for earnings up to Rs.5 lakh

Ten percent surcharge on income exceeding Rs.1 crore a year; only 42,800 people have declared such income

Excise duty on cigarettes to be increased 18 percent

No change in service tax of 12 percent

Service tax on all air conditioned restaurants regardless of whether or not they serve alcohol

Education cess to continue at 3 percent

11 lakh people have benefited from direct cash transfers; scheme to be rolled out across the country during UPA-2 term (May 2014)

Rs.1,000 crore allocated for establishing Nirbhaya Fund

Preliminary work begun on Bangalore-Mumbai Industrial corridor

Seven new cities identified along Delhi-Mumbai Industrial Corridor

Average growth during UPA-1 was 8 percent; high growth not a novelty

Other highlights:

No service tax on vocational courses run by institutes affiliated to state governments

Service tax on all air conditioned restaurants regardless of whether or not they serve alcohol

No service tax on agricultural testing procedures

Rs.9,000 crore allocated for compensating state for differential in central sales tax and GST

Import duty on high-end vehicles raised from 75 percent to 100 percent

Concessions for encouraging MRO (maintenance repair overhaul) sector

Excise duty on cigarettes to be increased 18 percent

No change in customs duty on non-agricultural products

No change in service tax of 12 percent

Modified law to prevent tax avoidance to come into effect April 1, 2016

100 percent tax deduction for contributions to National Children's Fund

Education cess to continue at 3 percent

11 lakh people have benefited from direct cash transfers; scheme to be rolled out across the country during UPA-2 term (May 2014)

Property transactions skewered; TDS of one percent where transaction exceeds Rs.50 lakh

Tax on mutual fund redemptions reduced from .25 percent to .001 percent

No revision of personal income tax slabs; relief in first bracket through tax credit of Rs.2,000 for earnings up to Rs.5 lakh

Ten percent surcharge on income exceeding Rs.1 crore a year; only 42,800 people have declared such income

Tax Administrative Reforms Commission to be set up

Collective responsibility to ensure dignity and safety of women; recent incidents have cast a dark shadow; stand in solidarity with our girl children and women; will keep them safe and secure

Rs.1,000 crore allocated for establishing Nirbhaya Fund

Defence allocated Rs.2 lakh 3,672 crore

Cities to be encouraged to promote waste to energy projects

Low interest funds to be provided for promoting clean energy

Rs.800 crore provided to promoting wind energy

Two new ports to be set up in West Bengal and Andhra Pradesh to add 100 million tonnes handling capacity

Gas handling terminal at Dabhol in Maharashtra to be fully operational during 2013-14

State governments urged to sign restructuring plans with electricity discoms

Tax-free infrastructure bonds of Rs.50,000 crore to be issued

Textile ministry allocated Rs.50 crore for establishing apparel parks

Handloom sector allocated Rs.96 crore to benefit 150,000 weavers

Infrastructure debt funds to be encouraged

Regulator to be appointed for road projects; 3,000 km of road projects to be awarded in first six months of 2013-14

Incentive allowance of 15 percent over and above permitted depreciation to those investing over Rs.100 crore in infrastructure projects

Rajiv Gandhi Equity Scheme to be liberalised

Seven new cities identified along Delhi-Mumbai Industrial Corridor

Preliminary work begun on Bangalore-Mumbai Industrial corridor

Foodgrain production during 2013-13 estimated at 250 million tonnes

Rs.500 crore allocated for promoting crop diversification

Rs.200 crore allocated for promoting nutrient-rich crops

Rs.50 crore allocated for farmer-producer organisations

National Livestock Mission to be launched with allocation of Rs.307 crore

Hope parliament will pass food security bill; Rs.10,000 crore allocated for initial expenditure on implementation

Human resource development ministry to get Rs.65,867 crore

Rs.13,250 crore allocated for midday meals scheme

Rs.17,700 crore allocated for Integrated Child Development Scheme

Drinking water and sanitation ministry allocated Rs.15,260 crore

Allocation of rural development ministry allocation raised by 46 percent to Rs.80,294 crore; Rs.33,000 crore for rural jobs scheme

Budget expenditure for 2013-14 at Rs.16 lakh 65,297 crore; plan expenditure at Rs.5 lakh 55,224 crore

Rs.41,000 crore for Scheduled Caste plan

Rs.97,000 crore for women's development

Rs.110 crore for department of disabilities

Rs.37,330 crore for health ministry

Average growth during UPA-1 was 8 percent; high growth not a novelty

Current account deficit a worry because of high oil and gold imports

Will need $75 billion to finance current account deficit

Need to encourage FDI in consonance with economic priorities

WPI inflation down to 7 percent; food inflation worrying.

Today`s quote

2/28/2013 07:11:00 am DAILY QUOTES No comments

“Whenever you find yourself on the

side of the majority, it is time to pause

and reflect.”

Chill Out Before Exercising

2/28/2013 07:08:00 am HEALTH TIPS No comments

Chill Out Before Exercising

To perform better, cool down before you warm up. Research shows that lowering your body temperature prior to exercise increases the amount of heat your body can tolerate, which delays fatigue. The best way: Slowly sip a flavored ice slushie starting 30 minutes before you exercise. Athletes who did this before running on a treadmill in hot room ran an average of 10 minutes longer than those who drank cold, flavored water, according to a 2010 study in the journal Medicine & Science in Sports & Exercise. Because the runners’ bodies had to convert the slushies from ice to water, they may have transferred more heat to the drink rather than store it internally where it would have raised their core temperatures, say researchers.

wall between motorola and nexus phone

2/28/2013 06:56:00 am TECHNOLOGY No comments

Google exec: There's a wall between Nexus, Motorola

Google says it treats Motorola like every other partner, which means the door's open for Motorola to get its own Nexus phone.

Google's Nexus 4 is a hot seller.

BARCELONA, Spain--Google considers its own Motorola Mobility unit the same as HTC or Samsung Electronics when it comes to their relationship.

"It's almost as if they are a separate company," said Hiroshi Lockheimer, vice president of engineering for Android at Google, adding that there is a wall between the Nexus business and Motorola.

Still, in answering a question about whether Motorola would ever participate in the Nexus program again, Lockheimer wasn't particularly clear. While there is a firewall between the two businesses, the equal treatment of Motorola and Samsung suggests there is the possibility of collaboration on a Nexus phone.

"We treat all of our partners fairly," he said. "Motorola we consider a partner just like HTC or Samsung."

Google's acquisition of Motorola has caused tension between the Internet search giant and its vendor partners, some of whom privately expressed concerns. The Nexus program is seen as a chance for a company to participate in a halo product launch that garners all the buzz and hype of a usual Google product announcement.

So far, Google has navigated it well, folding Asus and LG into the mix with Samsung in last year's Nexus products. Motorola was a launch partner for the first version of Android 2.0, or Eclair, with the first Droid, but that was when Motorola was a separate company.

But with rumors spreading of a flagship phone created by Motorola, or a Google "X" phone, those quiet tensions could bubble up more publicly.

Google, meanwhile has been happy with the reception of the Nexus 4, which suffered from supply constraints due to overwhelming demand.

Jamie Rosenberg, vice president of digital content and the Google Play store, said that the supply issues have been resolved, and sales of the Nexus 4 have caught up to demand.

"It was certainly frustrating that we weren't able to meet demand," he said.

On whether Google could drive down the price of future Nexus devices further, Lockheimer said there was always room to go lower. But at some point, there's a decision to be made about the features of the phone vs. the price.

"What's the right price point? How do we maximize the feature set of the product?" he said.

For now, Lockheimer said he was happy with the price point of both the Nexus 4, which sells for $299 without a contract, as well as the $199 Nexus 7 tablet.

Microsoft Office 365

2/28/2013 06:53:00 am TECHNOLOGY No comments

Microsoft aims Office 365 updates at business users

The software maker is rolling out the services piece of its "new Office" for businesses. Here's what new and existing users can expect, as of today.

In late January 2013, Microsoft launched its consumer-focused version of Office 2013, known as Office 365 Home Premium. Today, it's launching the updated business versions of its Microsoft-hosted Office 365 offerings.

Microsoft has added three new packages to its Office 365 lineup for businesses: Office 365 ProPlus, Office 365 Midsize and Office 365 Small Business Premium. These complement the existing Office 365 Small Business and Enterprise offerings, which Microsoft is updating with many of the latest new features and functions that it introduced late last year for the on-premises complements of the products in the suite. (Microsoft released to manufacturing Exchange Server 2013, SharePoint Server 2013 and Lync Server 2013 in October 2012.)

What does "launch" actually mean in the context of Office 365? Here's what Microsoft officials told me:

The three new SKUs -- Office 365 ProPlus, Midsize and Small Business Premium -- are available for purchase for the first time, as of today. (A free trial is available via this link.)
Brand new customers can start purchasing the latest versions of Office 365 for businesses which includes the updated Microsoft Lync Online, Exchange Online and SharePoint Online services
Existing customers with version of Office 365 that includes Office can start using the latest set of Office applications (Office 2013)

Existing Office 365 customers will continue to receive the updated versions of Lync Online, Exchange Online and SharePoint Online "throughout the year" -- seemingly through November 2013 -- a spokesperson confirmed. (Microsoft officials said late last year that some Office 365 enterprise users were getting the updated bits starting last fall.) Microsoft gives existing users a two-weeks heads up as to when Microsoft plans to transition them to the updated Office 365. Users can reschedule the assigned date, if need be.

Pricing for the new Office 365 business offerings is the same as what Microsoft's been telling partners it would be since late last year. Here's a slide from a deck the company supplied to partners outlining the pricing. (The top row reflects the Office 365 services pricing; the bottom row is the pricing for the equivalent on-premises SKUs.)

Microsoft is holding an hour-long Webcast today to share more about the business SKUs of Office 365. Those interested need to register for the Webcast (the first of which starts at 11 am ET/8 am PT today).

Office 365 is Microsoft's competitor to Google Apps. It is a Microsoft-hosted suite that includes Exchange Online, SharePoint Online and Lync Online. Via various Office 365 offerings, Microsoft allows business users to install the Office client apps on up to five PCs and/or Macs locally. TechNet has more information on what's part of all the existing and new plans, ranging from Office 365 Small Business, to Office 365 Enterprise E and K.

Microsoft is not dislosing how many Office 365 customers it currently has. The only customer numbers the Softies are sharing as part of today's Office 365 launch is that one in five of Microsoft's enterprise customers now has the paid Office 365 service, up from one in seven a year ago. Officials also are saying that the number of small and medium sized businesses using Office 365 has also grown by 150 percent in the past 12 months.

Google, for its part, claims more than 5 million businesses use Google Apps.

Google's ninja approach to Mobile World Congress

2/28/2013 06:38:00 am TECHNOLOGY No comments

Google's ninja approach to Mobile World Congress

In a break from the last two years, Google has opted for a more subdued approach, complete with mysterious meeting room.

Google's booth at Mobile World Congress from last year.

BARCELONA, Spain--Gone is the giant Android figures, the twisty slide, colorful pins, and free ice cream sandwiches. Gone is the massive, head-turning booth that clearly established Google as a major player at Mobile World Congress.

In its place is a small meeting room with a blank glass placard on the outside. A white curtain provides privacy for the briefings inside.

Google has largely run under the radar, taking a few meetings with the press, vendors, and other partners at the show. But the company isn't listed as an exhibitor, and its name and meeting room doesn't appear on convention maps.

Google's decision to take stealthlike approach at the show is a curious shift in tactic, especially considering the influence it now has over the entire wireless industry. There are few companies at the show that isn't at least indirectly affected by Android.

Curiously, its non-presence at the show may be the best illustration of Google's reach.

"If you walk around the halls, there's a lot of Android out there already," said Hiroshi Lockheimer, vice president of engineering in charge of Android. "We felt like the partners are best equipped to talk about their products.

"We're here to meet with people. We don't need a fancy booth for this."

Google's virtual absence at the show certainly doesn't mean that the company and Android weren't in the headlines. The Wall Street Journal reported on the growing tensions between Google and Samsung. Samsung, meanwhile, poured cold water on everyone else as the show was kicking off by sending out invitations to the launch event for the Galaxy S4 -- the premier Android phone.

Many of the big products shown off, from the Samsung Galaxy Note 8 to the ZTE Grand Memo, all run on Android. While the show was all about new operating systems in Firefox, Tizen, and Ubuntu, it's generally understood that Android is what consumers will be caring about for a good while.

Just look at its market share. In the fourth quarter, Android accounted for 70.1 percent of smartphones shipped, according to IDC. The second closest, Apple, accounted for 21 percent, and the rest trail off pretty dramatically.

For comparison's sake, here's Google's presence at Mobile World Congress this year.

Of course, some things remained the same. Google continued to host its annual Android party, one of the hotter tickets at Mobile World Congress. This year Florence and the Machine and Tinie Tempah rocked a trendy club in Barcelona. Lockheimer quipped that Google spent all its money on the party this year.

"Do we want Florence and the Machine or a booth?"

Still, it's a far cry from the splashy presence the company has opted for in the past few shows. Last year, Google elicited a Pokemon, "gotta catch 'em all"-like craze with show goers by releasing a series of different Android pins that could be found at partner booths.

Google's MWC booth and Android wonderland (photos)

The booth was anything but conventional, featuring lots of colors, a slide, a mini parade of Android phones, and a sandwich bar that delivered -- what else? -- ice cream sandwiches. It was a popular destination for show goers and consistently packed.

Google's large presence was particularly noteworthy given its tendency to shun other large trade shows such as Consumer Electronics Show or CTIA Wireless. Like Apple, it opts to hold its own events, such as the developer-focused Google I/O.

But its more subdued approach at Mobile World Congress signals that Google, and Android, may be growing up.

Somdev beats Kunitsyn

2/27/2013 07:34:00 am OTHER SPORTS No comments

Somdev beats Kunitsyn in Dubai first round.

India's Somdev Devvarman beat Russian Igor Kunitsyn for the first time in four meetings when he easily won his first round at the Dubai Duty Free tennis championships in straight sets 6-1, 6-4 here Monday night.

Devvarman, using his protected ranking as he is returning from an injury break, got a direct entry here and continued his good form to outclass the Russian, who is presently ranked 167 on the ATP charts, in 65 minutes.

The Indian, who was out with an injury for most part of last year and is currently ranked 315, looked far more impressive than the Russian who in 2009 had his best ranking at 35.

Somdev, whose best ranking was 62 two years ago, raced through the first set dropping just one game and with an early break he looked on a cruise in the second set, too. But the Russian broke back to tie two games all.

Somdev was back in the driver's seat by breaking Kunitsyn again in the seventh game and with his steady hitting from the back court he clinched his next two service games. The Indian will next take on the winner of the match between fourth-seeded Juan Martin Del Potro and Cypriot Marcos Baghdatis in the second round.

Second-seeded Roger Federer had a tough first round match against Tunisian Malek Jaziri, dropping the first set before recovering to take the next two without breaking sweat, 5-7, 6-0, 6-2.

monster rises 7%

2/27/2013 07:19:00 am JOBS No comments

Monster Employment Index India for January 2013 rises 7% year-over-year

The Monster Employment Index India for January 2013, a monthly gauge of online job posting activity, has risen 7% year-over-year.

MUMBAI: The Monster Employment Index India for January 2013, a monthly gauge of online job posting activity, has risen 7% year-over-year. 18 of the 27industry sectors monitored by the Monster Employment Index registered expansion in online recruitment activity between January'12 and January'13.

"The Monster Employment Index India exhibits positive annual growth. However, the employers continue to remain cautious owing to the current global economic scenario," said Sanjay Modi, Managing Director,Monster.com (India/ Middle- East/ South East Asia) in a release.

The m edia & entertainmentsector (up 41%) followed by logistic, courier/ freight/ transportation sector (up 34%) exhibited the highest annual growth among sectors. The NGO/social services sector (up 25%) also did well. On the downside, import/export (down 19%) showed the steepest annual decline

On the occupation front, online demand improved in nine of 13 occupational groups monitored by the Monster Employment Index between January 2012 and January 2013.

Arts/creative(up 35%)followed by customer service(up 14%) saw the highest annual gains while senior management (down 23%) saw the highest annual decline.

In terms of location, online recruitment activity was up for all the 13 locations monitored by the index. Baroda (up 37%) followed by Jaipur(up 26%) led all cities in annual growth. Among major metro-areas, Kolkata(up 20 percent) and Chennai(up 19 percent) registered the highest annual growth

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Thursday, 28 February 2013