Regulations
Allahabad HC stays mandatory installation of set-top boxes
Lucknow : The Allahabad High Court (HC) has stayed for a period of three months the installation of television set top boxes (STB) in the state, an official said on Thursday.
 
The government had through a notification made installation of STBs mandatory after December 31, 2015.
 
The HC has also sought a response from the union government in this regard within four weeks. 
 
The high court bench, comprising Justice Tarun Agarwal and Justice V.K. Mishra, was hearing a petition moved by the UP Cable Operators Association seeking a stay on the mandatory installation of set top boxes for cable networks.
 
The cable operators told the court that STBs were not available in adequate numbers and the immediate implementation of the government order was not possible at many places. Also, they were being harassed by authorities in some regions, they complained.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article
 

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Stock manipulation: Vaarad Ventures

Vaarad Ventures shot up by 788% between April 2015 and February 2016

 

Vaarad Ventures (initially known as NHN Corporation and later as Atco Corporation) is, currently, an investment company which conducts business through its subsidiaries. Its four subsidiaries are into packaged drinking water, software development, industrial publications and consultancy. Apart from investments in these unquoted subsidiaries, Vaarad Ventures has investments in Atcom Technologies, Smart Sensors & Transducers, Kimaya Shoppe and Kimaya Wellness. The small-cap stock reports its consolidated revenue on an annual basis. In FY14-15, Vaarad Ventures reported revenues of just Rs48 lakh, compared to revenues of Rs87.14 crore reported in FY13-14. The company reported a consolidated loss of Rs1.02 crore in FY14-15 compared to a loss of Rs2.19 crore in FY13-14. Despite such poor financials, its stock price shot up by 788%, or over 8 times, in less than a year, to Rs22.20 on 19 February 2016 from Rs2.5 on 17 April 2015. Over this period, the stock has often reported just two or five trades in a day. Vaarad Ventures was pulled up by the regulator in June 2013 for not complying with the minimum public shareholding requirement. Market manipulation continues with impunity right under the nose of the regulators.

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Can budget bridge India's vocational training gap
There is a shortage of 100,000 trainers for implementing skill-development programmes across the country. The question is: Can the 74 percent increase in the latest budget allocation for skill development and entrepreneurship -- from Rs.1,038 crore ($160 million) for last year to Rs.1,804 crore ($264 million) in 2016-17 -- address India's great job shortage?
 
In the information technology sector, 1.4 million sought jobs in 2015, of which 209,000, or 17 percent, found jobs, as IndiaSpend reported earlier. Similarly, in the banking sector, net hiring by government and private banks was reported to be 33,224 in 2015.
 
Only 2 percent (nearly 9 million) of Indian workers are formally skilled. Net enrolment in vocational courses in India is only about 5.5 million per year, compared with 90 million in China and 11.3 million in the United States, as IndiaSpend reported previously.
 
About 10.6 million Indians are unemployed, according to a 2011-12 survey by the National Sample Survey Office. Of these, 7.8 million are in the age group of 20-59 years. Similarly, an estimated 474 million people have part-time employment.
 
India needs 23 million jobs annually. But over the last 30 years, the country has created only about seven million jobs every year.
 
Finance Minister Arun Jaitley, while presenting his third budget on February 29, announced plans to establish 1,500 multi-skill training institutes across India with Rs.1,700 crore ($200 million).
 
In addition to setting up the National Board for Skill Development Certification in partnership with industry and academia, the government is also planning to skill 10 million youth over the next three years under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Prime Minister's Skill Development Scheme.
 
The creation of a separate ministry for skill development and entrepreneurship was announced last year in this direction. The major allocation has been to PMKVY, Rs.1,771 crore, under which the National Skill Development Fund/Corporation (NSDC) -- tasked with raising funds from both government and non-government sectors for skill development -- received the most, Rs.1,350 crore.
 
The PMKVY, launched on July 15, 2015, is a skill certification and reward scheme, and is likely to benefit 2.4 million people.
 
In the first six months of the current financial year, NSDC achieved less than 15 percent of its 3.7 million skill-training target. Besides, against a target of 2.4 million under PMKVY, NSDC had achieved less than 30 percent in terms of training and 10 percent in terms of certification, as of February 2016, according to news reports.
 
Nearly 19 million people have been trained under 40 different skill-development schemes over the last three years, according to data tabled in the Lok Sabha. As many as 5.5 million people are currently enrolled in skilling courses, with 231 million Indians aged 15-24 needing to be skilled, IndiaSpend reported recently.
 
Employment opportunities in India are set to grow from 461.1 million in 2013 to 581.9 million in 2022, across 24 sectors. The additional demand in many sectors, such as construction, retail and wellness, is predicted to be 109.7 million by 2022, with the top 10 sectors accounting for 80 percdnt of the jobs needed, according to an NSDC study.
 
Building construction and real estate sector will need 31.1 million people, followed by logistics, transportation and warehousing (11.7 million) and beauty and wellness (10.1 million). Maharashtra tops the list with 15.5 million more people needed, followed by Tamil Nadu (13.6 million) and Uttar Pradesh (11 million).
 
The government has proposed setting up 100 "model career centres" by the end of 2016-17 under the National Career Service, an online portal that matches job-seekers with jobs. About 35 million job-seekers have registered since the launch of this portal in July 2015.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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