Year 2014 to bring 8.5 lakh new jobs: Report
As per a survey by recruitment platform year 2014 MyHiringClub.com augurs well for job seekers as more than 8.5 lakh new jobs are expected across various sectors, including FMCG and healthcare. According to the survey based on a study conducted among more than 5,600 firms across 12 industry sectors, the forecasted number of new jobs in 2014 is higher than the estimated 7.9 lakh employment opportunities created in 2013.
All the employments have been projected in for the organised sector. Apart from FMCG, more jobs are expected in healthcare, IT, retail and hospitality sectors.
Sectror-wise expected number of jobs:
FMCG: 1.5 lakh
Healthcare: 1.33 lakh
IT and ITeS: 1.21 lakh
Retail: 86,700
Hospitality: 83,400
Banking and Financial services: 61,400
Manufacturing and Engineering: 51,500
Education, Training and Consultancy: 42,900
Media and Entertainment: 42,800
Real estate: 38,700
Mr. Subrahmanyam Jaishankar: Ambassador of USA
Dr. Subrahmanyam Jaishankar became the Ambassador of United States of America (USA) in December 2013. He succeeded Ms. Nirupama Rao and his position in Beijing was taken by Ashok K. Kantha.
About Dr. Subrahmanyam Jaishankar
An Indian Foreign Service (IFS) officer of the1977 batch.
Apart from serving as India’s Ambassador to China, he also had postings in Singapore and CzechRepublic.
Played a key role in negotiation of US-India nuclear agreement.
SEBI made fund-raising easier for corporate India and tightened noose on fraudsters
In order to raise funds easier for companies through genuine equity or debt offers, the market regulator SEBI approved new norms for its search and seizure operations, settlement proceedings, refund to investors and crackdown on illicit money-pooling schemes.
The measures of new norms:-
To consider the Financial Portfolio Investors (FPIs) similar to Foreign Institutional Investors (FIIs) on tax purposes.
To raise funds through Initial Public Offer (IPO) of equity shares and allowed companies to file shelf prospectus for debt offers that would be valid for multiple offers within a year.
To ensure faster refund of money to investors, essential checks are put in place to avoid any misuse of its newly granted powers with regard to conduct of search and seizure of fraudsters and market manipulators.
And detailed regulations have also been put in place for settlement of administrative and civil proceedings in a transparent manner, while ensuring that serious offences like insider trading are kept out of settlement window.
These decisions are related to the promulgation of an ordinance by the government for grant of greater powers to SEBI to check mushrooming of illegal money-pooling schemes across the country and to take strict actions against fraudsters and market manipulators.
SEBI: Foreign portfolio investors will be treated on par with FIIs on tax issues
In consultation with the Finance Ministry, Securities and Exchange Board of India (SEBI) decided to treat the three categories of Financial Portfolio Investors (FPIs) uniformly for tax purposes. In other words, the new rule aims to bring all foreign investors under a common framework called the SEBI (Foreign Portfolio Investors) Regulations, 2013.
The Foreign Institutional Investors (FIIs), their sub-accounts and Qualified Foreign Investors (QFIs) will soon be merged into a single and new investor class, called FPIs. As per their risk profiles, FPIs are divided into three categories.
These are as follows:-
Category I- the lowest risk entities comprises foreign government and government-related foreign investors.
Category II – regulated entities such as university funds, university-related endowments and pension funds, etc.
Category III – other entities viz. Qualified Foreign Investors (QFIs), etc.
Stock market regulator SEBI received a clear note from the Department of Economic Affairs in the Finance Ministry to consider the FPIs similar to Foreign Institutional Investors (FIIs) on tax purposes. The proposal was made by the K M Chandrashekhar panel that reviewed various classes of foreign investors and suggested to unify foreign investment norms met for the first time.
The clarity on tax treatment of FPIs is aimed at encouraging inflows into the domestic equity and debt markets.
Other than uniform tax zone for FPIs, the SEBI
Made grading of Initial Public Offering( IPO) voluntary to boost the dormant primary market.
Allowed companies to issue debt through a shelf filing, along with regulations empowered it to monitor investors’ call records and conduct searches at companies suspected of wrongdoing.
Note: Under the former system, tax treatment for FIIs was different from that for sub-accounts and QFIs. Beneath the new FPI norms, all categories of FPIs would be given similar tax treatment as currently available to FIIs.
Government sanctioned Quadricycle as a new vehicle
The road transport and highways ministry sanctioned “Quadricycle” as a new category of vehicle on Indian roads. These vehicles are safer than three-wheelers as they have four wheels with fully enclosed body structure with hard top and doors. After integrating suggestions and objections, transport minister Oscar Fernandes approved the proposal that under this category, battery-powered or electric four-wheelers will also be considered.
About Quadricycle Vehicle
It is a four-wheel vehicle with a small engine to be positioned between a three-wheeler and a passenger car which does not meet the same safety and emission norms of regular passenger cars and have their own set of regulations.
The vehicle will be of two types – passenger carriers and goods carriers – with different maximum kerb weights and length.
It will be allowed to ply only on city roads as transport vehicles and not as personal vehicles.
Passenger carriers will have a maximum weight of 450kg and a max length of 3 metres, while goods carriers will have a maximum weight of 500kg and a length of 3.7 metres.
It will be permitted to carry a maximum of four passengers or a maximum weight of up to 500kg.
Note: Kerb (Curb) weight is the total weight of an automobile with standard equipment, all necessary operating consumables (e.g., motor oil and coolant), and a full tank of fuel, while not loaded with either passengers or cargo.
Andhra Pradesh High Court directs 2 Telugu actors to return Padma Shri
The Andhra Pradesh High Court directed to Telugu actors Mohan Babu and Brahmanandam Kanneganti to surrender Padam Shri to the President of India, as they allegedly misused it. The HC gave its decision on the petition filed by the BJP senior leader N Indraseena Reddy.
Why High Court directed Telgu actors to return Padam Shri?
Tollywood actor-producer Mohan Babu bestowed the award in 2007 and comedian Brahmanandam in 2009, in acknowledgment of their services to the Telugu film industry.
They both used the title ‘Padma Shri’ before their names for promoting the Telugu feature film “Denikaina Ready” (‘Ready for Anything’, produced by Mr. Mohan Babu and starring his son Vishnu).
The petitioner argued that as per the Article 18(1) of the Constitution, the national awards does not amount to a title and cannot be used as suffixes or prefixes.
Aftermath, the Court took the serious note of the actors for prefixing the name of the award to their names in the credits of the Telugu movie that was released in 2012.
And raised objection for using ‘Padma Shri’ in title cards in a wrong way (as if it was their surname) and delivered judgment in the petitioner’s favour. This will be a lesson for the actors who misuse the honorary award.
About Padma Awards
Padma Awards, the country’s highest civilian awards, are conferred in three Categories viz. Padma Vibhushan, Padma Bhushan and Padma Shri. The Awards are given in all disciplines/ fields of activities, viz. art, social work, Public affairs, science and engineering, trade and industry, medicine, literature And education, sports, civil service, etc.
‘Padma Vibhushan’ is awarded for exceptional and distinguished service;
‘Padma Bhushan’ for distinguished service of high order and
‘Padma Shri’ for distinguished service in any field.
The awards are announced on the occasion of Republic Day every year. The Awards are conferred by the President of India at a function held at Rashtrapati Bhawan sometime around March/ April.
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