Support vs procurement

Business Standard

When the credit rating agency Standard & Poor's (S&P) came to New Delhi last month, the government laid out the red carpet for its analysts; senior functionaries argued persuasively that reforms were in hand and the Indian economy was on the brink of returning to a high-growth path. It appears that the government at its most persuasive has not made so much as a small dent in S&P's pessimism. On Friday the agency announced that not only was it not upgrading India's rating from BBB-, the lowest "investment-grade" rung, it was not going to change its outlook on the rating from negative, either. Indeed, S&P warned that unless India undertook major reforms in the coming year, the country would be downgraded next year. The full effects of a sovereign rating for India in junk territory could possibly be very large indeed. India is dependent, for financing its capital account deficit, on foreign institutional flows, which could dry up if India was no longer investment-grade. In

Ratings and resources

Both the editorial "The foreign spine" and Ajit Balakrishnan's article "As bytes replace guns" (May 15) highlight the encompassing  and critical nature of the internet and cyber security. Over 60 per cent of our telecommunication hardware is imported, mostly from Chinese telecom equipment manufacturers. Chinese communications technology giant Huawei is under increasing scrutiny across the world for its close links with the Chinese government. Ren Zhengfei, a former technologist in the People's Liberation Army, founded Huawei in 1988 and it is now the world's largest telecoms manufacturer. China's increasing control of telecoms infrastructure centred on "added functions" that could be built covertly into large-scale systems, potentially giving one country the ability to shut another's communications networks. Washington Post, The New York Times, Wall Street Journal, the US and Indian government and Tibetan institutions have been hacked.As state-sponsored cyber-attacks, drones and the St

Letters: Security in self-sufficiency

Apropos "IIMs' faculty worked up over appraisal scores" (May 16), it is indeed very important for all organisations and, more particularly, educational institutions to have an effective appraisal system in place and review it every two to three years. In fact, the IIMs must lead all the management and other educational institutions in developing a model appraisal system for faculty members that integrates individual and organisational goals better. At the same time, there is need to rationalise the teaching load of faculty members vis-Ã -vis their research workload to ensure both quality teaching and quality research.I K Kilam, FaridabadLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201  Â·  E-mail: letters@bsmail.inAll letters must have a postal address and telephone number

Letters: Reviewing appraisals

This refers to the article "US Immigration Bill - Is there an opportunity in crisis?" (May 17). For some time now, some Indian software companies have been trying to shift away from the "body shopping" model to "offshoring". The likelihood of H1-B visas becoming more difficult should, indeed, be used for firming up this offshore model so that as much work as possible is executed remotely from within India. Only a few pieces of the project may then have to be done in proximity to and collaboration with the foreign principal at its offices in the US. These latter tasks, which are likely to be of short duration, can be handled by professionals visiting the US on short-term business visas.Kishor Kulkarni, MumbaiLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201  Â·  E-mail: letters@bsmail.inAll letters must have a postal address and telephone number

Letters: The offshoring advantage

During a recent visit to Assam, the hectic schedule of journalists accompanying President Pranab Mukherjee was interrupted by a surprise visit to the famous Kamakhya Temple (pictured) in Guwahati. Asked about this unscheduled stop, a senior officer said it had been done at the insistence of the president's daughter Sharmishta, who happens to be a devotee of the goddess. What is more, the visit took place before the scheduled opening time, the district administration having convinced the temple staff to allow the dignitaries a special darshan.

Goddess syndrome

The issue of subsidies has become so sensitive in the light of the government's huge fiscal deficit that even the most articulate of ministers hesitate to comment on it. This was the predicament in which Petroleum Minister M Veerappa Moily found himself last week, at a press conference on the direct benefit programme for domestic cooking gas. A reporter asked him for his views on continuing the subsidy on domestic LPG. As is usual, secretaries of the department step in when the minister is at a loss for words. But Petroleum Secretary Vivek Rae, too, did not seem to find an answer, forcing the press relations officer to move to the next question. Inevitably, the question was raised again towards the end of the conference.  This time, Rae took over. "As of now, the LPG subsidy continues," he said at the beginning of a long-winding answer that enlightened nobody.

Stepping off the gas

The Chinese Premier Li Keqiang (pictured) is addressing the media on Tuesday at the Taj Palace Hotel, for which exclusive invitation cards are being distributed. The Chinese embassy, however, appears clueless about this. The media office there sounds exhausted and irritated. Calls are answered by one Mr Hu, who seems to have learnt some rudimentary Hindi by rote for the event. Ask him about the cards and his stock reply is: "Apna naam do, phone number do, theek hain", no matter how you introduce yourself and what you ask him. Everything is so shrouded in mystery that even the press officer, one Ms Zou, never comes to the phone. Every time you call her office, somebody new answers the call.

Press relations, China style

A price index for agri commodities: A Business Standard and Indicus Analytics initiative

Indicus price monitor

Every Monday, Business Standard analyses one family's finances and suggests a suitable way forward

Case study

Business Standard brings you a snapshot of average current rates and unit sizes in localities that offer property in a price range of Rs 1 crore to Rs 1.5 crore. If you are looking at buying real estate and your budget falls within this range, an idea about prevailing rates would come in handy

Realty check

How much can one claim if an insured vehicle is badly damaged?If a vehicle is damaged more than 75 per cent, the owner is liable to get the entire value of the car (in that year). In sum, the insurer will pay the Insured Declared Value (IDV) of the vehicle for that policy year. The insurer gives the owner an option between accepting the market value (mostly lower than the IDV) and leaving the car with the insurer, or taking the IDV and retaining the car. If the vehicle is damaged less than 75 per cent, the cost of repair can be claimed.What if the car owner and surveyor don't agree on the extent of damage?In this case, both parties together (owner and insurer) can appoint an arbitrator, who helps with an intermediate solution. An arbitrator can take 10 to 15 days to come to a conclusion.

Tipping point

India has seen a 280% increase in bot infections that is continuing to spread to a larger number of emerging cities

India on cyber attackers radar

The golden goose

In the quarter ended March, the global demand for gold fell 13 per cent to the lowest in three years, as record exchange-traded product sales by investors outweighed a surge in buying from China and India, according to the World Gold Council

Not so bright

Google Inc's share price hit a new high after the search giant's CEO Larry Page put to rest speculations about his health. Page's health had worried Wall Street and Silicon Valley deeply. Earlier, Apple had initially refused to disclose details about the health of Steve Jobs. As the indices show, Apple stock took a hit when Jobs resigned as CEO and then after his death.

Tracking the tech titans

The irrepressible Beni Prasad Verma is at it again. Last week, the Samajwadi Party (SP) announced a public holiday on May 17 for the anniversary of the Urs of Khwaja Moinuddin Chisti, the famed sufi saint of Ajmer. Verma told reporters that neither the Muslims nor the Khwaja sahib would be happy at this decision. There were a host of other things the SP ought to do, he counselled. One of the most important ones was to ensure those Muslims who were in jail, were given legal assistance to come out. "Please tell our Muslim brothers what the need was to withdraw the hate speech charge against BJP leader Varun Gandhi?" Verma said, adding sarcastically, "the Muslims will be greatly relieved to hear SP's explanation on this matter."

Beni does it again

Those who are expecting a huge reshuffle in the council of ministers, need not worry. Neither the party nor the government has any appetite for a massive overhaul. Both Law Minister Kapil Sibal and Railways Minister C P Joshi have been told they won't be shifted for at least a year, so they should push ahead the reforms they want to do. The reshuffle, when it happens, will be a small one, limited only to ministers of state who are holding dual charges.

No reshuffle worries

The Central Bureau of Investigation (CBI) is, understandably, extremely wary of allowing unknown people access to its office. That is why its personnel keep a close watch on those who purport to be journalists; allowing only familiar faces who cover the beat to stay behind after the day's business is done for strictly off-the-record briefings. Last week, the reasons for their suspicions became amply clear when an unfamiliar person sought to mingle with the journalists after business hours. When questioned, he mumbled something about representing a TV channel called "Network One", and even produced a card to this effect. Since the press officers had never heard of this channel, their suspicions were aroused and he was immediately escorted off the premises and out of the gate. It turns out that interested parties who are under investigation often resort to such measures to elicit information from CBI.

Business Standard

Business Standard

Page 731 - Business Standard

Support vs procurement

Ratings and resources

Letters: Security in self-sufficiency

Letters: Reviewing appraisals

Letters: The offshoring advantage

Goddess syndrome

Stepping off the gas

Press relations, China style

Indicus price monitor

Case study

Realty check

Tipping point

India on cyber attackers radar

The golden goose

Not so bright

Tracking the tech titans

Beni does it again

No reshuffle worries

CBI's trespassers

Look abroad instead