According to the latest advance forecast released by the agriculture ministry for 2009-10 (July-June), India is estimated to have harvested a record 80.71 million tonnes (MT) against 80.98 MT estimated in May.
The government today revised the production forecast of wheat and rice for 2009-10 crop year slightly lower to 80.71 million tonnes and 89.31 million tonnes, respectively, from its earlier projections, reports PTI.
According to the fourth advance forecast released by the agriculture ministry for 2009-10 (July-June), the country is estimated to have harvested a record 80.71 million tonnes (MT) against 80.98 MT in the third advance estimate released in May.
India had produced 80.68 MT of wheat in 2008-09.
Rice output has also been revised downwards at 89.13 MT in the fourth estimate for 2009-10 from 89.31 MT in the third estimate. In the previous year, India had produced a record 99.18 million tonnes.
The production declined in 2009-10 due to severe drought last year that affected almost half of the country.
The output of pulses, too, has been revised downwards to 14.59 MT from 14.77 MT in the third estimate. But it is still higher than 14.57 MT in 2008-09.
However, as per the fourth estimate, the country's total foodgrains production has been revised marginally upwards at 218.2 MT against 218.19 MT in the third advance estimate.
This is because the estimate of coarse cereals output has been increased to 33.77 MT in the fourth estimate from 33.13 MT in the third estimate.
In 2008-09 crop year, the country had produced a record 234.47 MT of foodgrains.
The company's founder and chief mentor has said its social media policy aims to provide helpful, practical advice to utilise electronic communication devices in a legal, ethical, and appropriate manner
NR Narayana Murthy, the chief mentor of Infosys Technologies Ltd, has said that the company does not intend to monitor or otherwise act on what its employees may do as private citizens delinked from the company.
Replying to a query by our columnist Dr Samir Kelekar, the Infosys chief mentor said, "Our policy, while encouraging usage of social media, reinforces some guidelines which protect employee and organisation by reinforcing client and company confidentiality, intellectual property and code of conduct."
There were reports that Infosys, the second largest IT company in India, was planning to implement a social media policy for its employees from August. The report said from August whatever an employee of Infosys posts on social media networks like Facebook, Orkut or micro-blogging site Twitter will be under the company's watch.
Mr Murthy said that the company feels that such activities will be governed by larger societal mechanisms that are in place or will happen in the future. "Infosys considers its social media policy as an extension of its policies that cover other means of communication or media. Formal polices drive effective practices and we have designed our policy to do just that," Mr Murthy said in an email.
There were apprehensions that if put under curbs or watch, employees may start blogging anonymously. Allaying apprehensions about policing the usage of social media by Infosys employees, Mr Murthy said nobody has said that the company will police such networks. "Please go not by what appears in newspapers but what you ascertain from the leaders of the company," he said.
According to a draft policy about social media networking prepared by Infosys, its guidelines only aim to provide helpful, practical advice to utilise electronic communication devices in a legal, ethical, and appropriate manner while wearing the Infosys badge. "This policy does not cover postings that you (the employee) may do as a private individual as long as you do not associate Infosys in any way with your personal identity or refrain from commenting about Infosys," the guidelines said.
The volatility index indicates the investor's perception of the market's volatility over the next 30 calendar days i.e. higher the India VIX values, higher the expected volatility and vice-versa.
National Stock Exchange (NSE) today announced the launch of India VIX, a volatility index being disseminated on a real-time basis for the first time, reports PTI.
India VIX is based on the index option prices of NSE's benchmark index — Nifty.
India VIX is computed using the best bid and ask quotes of the out-of-the-money near and mid-month Nifty option contracts, which are traded on the F&O segment of NSE, the exchange said in a statement in Mumbai.
The volatility index called the India VIX indicates the investor's perception of the market's volatility in the near term. It depicts the expected market volatility over the next 30 calendar days i.e. higher the India VIX values, higher the expected volatility and vice-versa.
So far, the volatility index, which is expressed in a percentage figure, was shown at the end of the day. But now it will be displayed on a real time basis, the NSE release said.
"Once India VIX is available for trading after regulatory approvals, it will give a lot of security to investors and traders, who face uncertainty, because the new product will empower them with better information and foresight. More importantly, it will give them the ability, to use the product to hedge their portfolios against the risk arising out of volatility," NSE's managing director & CEO, Ravi Narain said.
NSE will be applying to the Securities and Exchange Board of India (SEBI) for permission to start derivatives on the index, after it has been tracked for a suitable period. Once the futures and options start on the index, investors whose portfolios are affected by volatility in the market can use the product to hedge their risks.
In the last few years, markets around the world have seen a higher volatility. India is no exception and it has also witnessed higher volatility.