#EVERYDAYQUIZ #THEHINDU #INDIANeXPRESS #BUSINESS sTANDARD #THEdAWN
THE HINDU: Freedoms only for
the outraged
BUSINESS
STANDARD: Infosys, TCS on parallel tracks
THE
DAWN(PAKISTAN): Mediation efforts
#SSC #IBPS #SBI #RBI #NABARD #NICL #NIACL #CAT #NMAT #everydayquiz
THE
HINDU: Starting up to stand still?
Two lakh passes were sought for the Start Up India workshop at New Delhi’s Vigyan Bhawan with a
seating capacity of 1,350, a good indicator of the interest in the action plan
for start-ups unveiled by Prime Minister Narendra Modi after a nine-hour
talkathon between Silicon Valley honchos, financiers, Indian unicorns and top
government officials.
Amidst the euphoria, at least one Silicon Valley CEO,
B.J. Arun of July Systems, warned that India was witnessing a bubble similar to
the heady dot-com rush of 1999-2000 in Silicon Valley with too much money
chasing too few ideas. The high demand for passes to the event is probably a
sign of that growing bubble. India, Mr. Arun warned, won’t recover as easily as
the U.S. did after the bubble bursts, only to be told by his Indian
counterparts that there is no bubble and even if there is, the fittest would
survive. That confidence is refreshing, coming from under-40 first generation
entrepreneurs. The government’s action points seem laudable for starters, if
not deep enough. They include Rs. 10,000 crore of funding for the next four
years, tax-free and labour-inspection-free existence for start-ups for the
first three years, speedier patent clearances with the exchequer footing most
of the bill, and promises to fix taxation hurdles that deter domestic and
global financiers from bankrolling new ventures in the coming Budget. That the
government must intervene less for start-ups to succeed — Mr. Modi’s core
message — drew the loudest cheers, followed by the tax breaks on start-up
profits. The tax breaks fly in the face of the corporate tax reform being
pursued to lower rates and phase out exemptions; but it is a headline-grabbing
measure that won’t hit revenues as few start-ups would make profits in the
first three years.
A bigger issue is the
attempt to define the start-ups eligible for the sops, support and funding
announced by the Prime Minister: firms set up in the past five years with an
annual turnover below Rs. 25 crore, working ‘towards innovation, development,
deployment or commercialisation of new products, processes or services driven
by technology or intellectual property’. The mere act of developing products or
services that do not have potential for commercialisation or have no or limited
incremental value for customers would not be a start-up. Moreover, a start-up
shall be eligible for tax benefits only after it is certified by an
inter-ministerial board. Slotting something like innovation into a template may
not click and until more details emerge, it just sounds like more red tape to
clear to avoid some red tape. Smarter ventures would seek funding on their own
and work without official sops, but the government must not lose sight of the
need to fix India’s overall business climate. Failing that, even with tax sops,
start-ups will continue to quit India and list or register elsewhere. Bubble or
not, that’s one issue Indian unicorns are unanimous about.
un·veil
Remove a veil or covering from,
especially uncover (a new monument or work of art) as part of a public
ceremony.
talk·a·thon
A prolonged discussion or debate.
hon·cho
A leader or manager; the person
in charge
a·midst
Variant of amid.
eu·pho·ri·a
A feeling or state of intense
excitement and happiness.
laud·a·ble
(of an action, idea, or goal)
deserving praise and commendation.
de·ter
Discourage (someone) from doing
something, typically by instilling doubt or fear of the consequences.
deployment
The distribution of forces in
preparation for battle or work
slot
Place (something) into a long,
narrow aperture.
sop
A thing given or done as a
concession of no great value to appease someone whose main concerns or demands
are not being met.
u·nan·i·mous
(of two or more people) fully in
agreement.
THE HINDU: Freedoms only for
the outraged
A comedian, Kiku Sharda, has been arrested under Section 295(A) of the Indian
Penal Code for presumably “outraging” the religious sentiments of Dera Sacha
Sauda adherents by mimicking their leader, Gurmeet
Ram Rahim Singh. The case was filed by a Dera follower in Haryana, and the
State police reached Mumbai to make the arrest. In Meerut, Uttar Pradesh,
meanwhile, a court has accepted a plea by a local leader of the Hindu Mahasabha
for proceedings against actors
Shah Rukh Khan and Salman Khan. Their misdeed: wearing shoes in a “temple” on
the sets of a television show. By the standards of intolerance to creative,
literary and academic work over the past two decades in India, these instances
are unexceptional — and it is beside the point to iterate the commonsense
distinction between reality and representation, between fact and superstition.
It is a meandering but firm line that links them up with the vandalisation of
the Bhandarkar Institute in Pune over a single line in a fine study of Shivaji;
the intimidatory outrage that inhibits the release of films such as Bajirao Mastani and Jodhaa Akbar which unsettle orthodox storytelling;
the moral policing that forced the shooting of Water, on
the treatment of Hindu widows, to be shifted out of Varanasi; and the pressure
on publishers to withdraw from circulation entire books (Wendy Doniger’s The Hindus: An
Alternative History) or excise chapters from compilations used as
university texts (A.K. Ramanujan’s ‘Three Hundred Ramayanas’). It is the line
that has also run through the murders of Govind Pansare, M.M. Kalburgi and
Narendra Dabholkar.
There is no doubt that
Section 295(A) of the IPC is in urgent need of amendment to limit its misuse.
As is the section dealing with sedition, freely imposed by the state on folk singers, cartoonists, students
watching cricket and defiant political upstarts. But these are attendant issues
of the crisis in India’s politics today. In democracies worldwide, questions of
representation and liberty have been taken forward in the political sphere, and
in India even more so. India’s politics, by parties of the freedom movement
like the Congress but also regional parties, took the lead in increasing the
space for rationalism, modernity, liberty and freedom of expression. That
uncompromising cover for liberty is now giving way to pervasive political
competition to frame hurt identities and nationalism for partisan advantage.
And those freedoms and the modernity project have been rendered yet more
fragile in the past couple of years, with many of the so-called fringe outfits
that feast on communal intimidation drawing strength from their affiliation to
the Sangh Parivar, and thereby to the ruling Bharatiya Janata Party. Months
after writers, academics and artists foregrounded the abnormal circumstances
today, it is unfortunate that India’s politics and its legislatures have not
joined the debate wholesomely. This is why it takes just a couple of outraged
persons to remind the world’s largest democracy that it has lost the essential
instinct for liberty.
out·rage
Arouse fierce anger, shock, or
indignation in (someone).
pre·sum·a·bly
Used to convey that what is
asserted is very likely though not known for certain.
ad·her·ent
Someone who supports a particular
party, person, or set of ideas.
it·er·ate
Perform or utter repeatedly
su·per·sti·tion
Excessively credulous belief in
and reverence for supernatural beings.
me·an·der·ing
Following a winding course.
vandalisation
(vandalise) vandalize: destroy
wantonly, as through acts of vandalism; "vandalize the park"
com·pi·la·tion
The action or process of
producing something, especially a list, book, or report, by assembling
information collected from other sources.
se·di·tion
Conduct or speech inciting people
to rebel against the authority of a state or monarch.
per·va·sive
(especially of an unwelcome
influence or physical effect) spreading widely throughout an area or a group of
people.
rend·er
Provide or give (a service, help,
etc.).
frag·ile
(of an object) easily broken or
damaged.
fringe
An ornamental border of threads
left loose or formed into tassels or twists, used to edge clothing or material.
in·stinct
An innate, typically fixed
pattern of behavior in animals in response to certain stimuli.
BUSINESS
STANDARD: Infosys, TCS on parallel tracks
At a time when the global economy is
faltering, India's export-oriented software industry appears to be holding its
ground, going by the third-quarter results of the leaders Tata Consultancy
Services (TCS) and Infosys. Both firms have spoken of headwinds. While
traditionally the third quarter is a weak one because of fewer working days,
TCS, in addition, has had to contain the impact of the hugely disruptive floods
in Chennai where a large section of its operations are based. In terms of
revenue growth, this has till now been a weak year for TCS - which will have to
put in an exceptional performance in the last quarter in order to equal its
topline growth of 15.6 per cent in 2014-15. Infosys has no such problem,
bettering its own previous performance as that had been quite dismal at 6.4 per
cent. As things stand, the two are likely to end the year at around the same
level of revenue growth. On bottomline growth, Infosys is likely to just miss
the net margin of 23.1 per cent it achieved last year. However, in keeping with
its traditional conservatism, it had begun the year with a cautious guidance,
which it is revising upwards as the year heads for a close. On the other hand,
TCS is likely to better its net margin of 21 per cent achieved last year. The
upshot of this will be that the two will clock almost identical levels of net
profitability during the year.
Overall, it seems that, going by the current numbers, there is little to choose between the two. But analysts have given a thumbs down to TCS and cheered Infosys. This is part of a recent pattern and is likely to reinforce current trends in the movement of their share prices. The market enthusiasm or the absence of it has to be seen in the context of the catching up that Infosys has been doing ever since Vishal Sikka took charge of the company. TCS, on the other hand, put in a stellar performance even while Infosys was struggling and it is quite natural if it now seeks to slow down a bit to recover its breath.
The existential problem for Indian information technology companies continues. Its traditional dynamic, of coasting along steadily on the basis of volume-based earnings ensured by maintenance contracts, has to give way to higher levels of automation. Their journey to the cloud requires less handholding by their software partners. In the digital age, information technology vendors have to help devise solutions instead of just executing them. This requires a massive upgrading of skills. The one bonus that can come the information technology majors' way is a big role in making India "smart" - and, perhaps, governments learning to pay their vendors on time.
Overall, it seems that, going by the current numbers, there is little to choose between the two. But analysts have given a thumbs down to TCS and cheered Infosys. This is part of a recent pattern and is likely to reinforce current trends in the movement of their share prices. The market enthusiasm or the absence of it has to be seen in the context of the catching up that Infosys has been doing ever since Vishal Sikka took charge of the company. TCS, on the other hand, put in a stellar performance even while Infosys was struggling and it is quite natural if it now seeks to slow down a bit to recover its breath.
The existential problem for Indian information technology companies continues. Its traditional dynamic, of coasting along steadily on the basis of volume-based earnings ensured by maintenance contracts, has to give way to higher levels of automation. Their journey to the cloud requires less handholding by their software partners. In the digital age, information technology vendors have to help devise solutions instead of just executing them. This requires a massive upgrading of skills. The one bonus that can come the information technology majors' way is a big role in making India "smart" - and, perhaps, governments learning to pay their vendors on time.
fal·ter
Start to lose strength or
momentum.
head·wind
A wind blowing from directly in
front, opposing forward motion.
dis·rup·tive
Causing or tending to cause
disruption.
bet·ter
Improve on or surpass (an
existing or previous level or achievement).
dis·mal
Depressing; dreary.
up·shot
The final or eventual outcome or
conclusion of a discussion, action, or series of events.
stel·lar
Of or relating to a star or
stars.
INDIAN EXPRESS: About
citizens
Against all expectations, Delhi has
passed the test of the odd-even plan without acrimony or incident, and its
citizens are to be felicitated at a public event on Sunday. Did pollution fall
during the last fortnight? Did the elderly, asthmatics and children breathe
easier? The debate on such questions will continue, with supporters and
sceptics hurling data and technicalities at each other. But Delhi has
nevertheless passed the test, in the sense that the rubric of the debate about
pollution has changed. Breathable air is no longer the government’s sole
responsibility. It’s a public issue, a citizen’s problem in which everyone who
lives in Delhi has become a stakeholder. The libertarian argument that driving
is the citizen’s right and that it’s the government’s responsibility to make it
possible now seems absurdly quaint.
The change in the air is palpable.
Yesterday, Kejriwal ended his thank-you speech with an appeal to continue the
odd-even plan voluntarily. Pointedly, he thanked women drivers who had left their
cars home, though they were not legally required to do so. Clearly, he senses
the challenge that his government must now face — how to leave behind a
coercive culture based on fines and subtle shaming and pivot towards a
voluntary movement.
The government claims a reduction of 35
per cent in vehicular traffic over the last fortnight, which has made possible
higher efficiencies in public transport, making commuting easier for everyone.
However, it would be impossible to keep up the momentum without voluntary
commitment. Signs of public support have been observed on social media, and
it’s generally agreed that something must be done. The odd-even scheme has
clarified who must do it — the citizen, with a little help from the government.
Now, the challenge is to transform what looks like a duty into a matter of
civic pride.
ac·ri·mo·ny
Bitterness or ill feeling.
skep·tic
A person inclined to question or
doubt all accepted opinions.
hurl·ing
An Irish game resembling field
hockey, played with a shorter stick with a broader oval blade. It is the
national game of Ireland and may date back to the 2nd millennium BC.
ru·bric
A heading on a document.
quaint
Attractively unusual or
old-fashioned.
pal·pa·ble
Able to be touched or felt.
co·er·cive
Relating to or using force or
threats.
sub·tle
(especially of a change or
distinction) so delicate or precise as to be difficult to analyze or describe.
piv·ot
The central point, pin, or shaft
on which a mechanism turns or oscillates.
civ·ic
Of or relating to a city or town,
especially its administration; municipal.
pride
A feeling or deep pleasure or
satisfaction derived from one's own achievements, the achievements of those
with whom one is closely associated, or from qualities or possessions that are
widely admired.
THE
DAWN(PAKISTAN): Mediation efforts
LONG having
relegated itself to the sidelines of diplomacy, the country appears to be
making something of a comeback on the international stage.
Led by the unlikely combination of Prime Minister Nawaz Sharif
and army chief Gen Raheel Sharif, an unprecedented Pakistani diplomatic
intervention is about to be attempted in the Middle East.
Travelling first to Saudi Arabia and then to Iran, Mr Sharif and
the army chief will likely try and mediate in a Middle Eastern rivalry that has
escalated dangerously in recent months. Quite what Pakistan has to offer to
either side is unclear. Will the Saudi leadership be open to Pakistani counsel?
Are the Iranians willing to consider Pakistan as an honest
broker between itself and Saudi Arabia?
Yet, it is encouraging that the prime minister and Gen Sharif
are willing to get personally involved and throw their weight behind diplomatic
solutions. While Pakistan alone may not be able to achieve a breakthrough, a
coordinated effort by international and other regional powers could help lower
tensions in the Middle East.
Strikingly, the Middle Eastern foray is not the only, or even
the biggest, diplomatic initiative by the combine. For over a year now,
Pakistan has publicly and determinedly tried to stabilise and improve relations
with the Afghan government and taken centre stage in the bid to revive peace
talks in Afghanistan.
Complicated and frustrating as that process has been, both the
prime minister and Gen Sharif have remained personally involved and helped
ensure that the Pak-Afghan relationship has not disintegrated.
The Quadrilateral Coordination Group is a potent symbol of
Pakistan’s newfound willingness to lead rather than stay on the sidelines and
pursue ambiguous policies. It is the right approach and the country’s
leadership should be commended for it. Where Pakistan’s national interests are
at stake, the country’s leadership needs to be at the fore.
There is a further area of transnational leadership that
Pakistan could consider. Saudi Arabia, Iran, Afghanistan and Pakistan all face
a threat, albeit to varying degrees, from the militant Islamic State group.
In their mediation efforts in the Middle East and attempts to
help revive an intra-Afghan peace process, the prime minister and army chief
could also help create an environment for the development of a common strategy
to fight the IS threat.
It will be anything but easy. Ultimately, the success or
otherwise of Pakistan’s recent diplomatic efforts will depend on the
relationship between the two Sharifs. While it may never become a partnership
of equals, the relationship cannot become too lopsided either.
Partly, that will depend on the initiative and ideas that Mr
Sharif brings to the relationship. But it will also matter if the army chief is
willing to be persuaded by the prime minister where the two disagree on
strategy or approach.
rel·e·gate
Consign or dismiss to an inferior
rank or position.
un·prec·e·dent·ed
Never done or known before.
me·di·ate
Intervene between people in a
dispute in order to bring about an agreement or reconciliation.
es·ca·late
Increase rapidly.
break·through
A sudden, dramatic, and important
discovery or development.
strikingly
In a striking manner; "this
was strikingly demonstrated"; "the evidence was strikingly
absent"
for·ay
A sudden attack or incursion into
enemy territory, especially to obtain something; a raid.
en·sure
Make certain that (something)
shall occur or be the case.
dis·in·te·grate
Break up into small parts,
typically as the result of impact or decay.
po·tent
Formed of crutch-shaped pieces;
(especially of a cross) having a straight bar across the end of each extremity.
com·mend
Praise formally or officially.
al·be·it
Although.
lop·sid·ed
With one side lower or smaller
than the other.
per·suade
Cause (someone) to do something
through reasoning or argument.
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