Economy
'India can be far more successful!'

India can be far more successful and far more influential than it is today, mentioned Dr Raghuram Rajan, Governor, Reserve Bank of India (RBI)

 

India can be far more successful and far more influential than it is today, mentioned Dr Raghuram Rajan, Governor, Reserve Bank of India (RBI) while delivering his key note address at the fourth C K Prahalad Memorial Lecture organized by Ananta Aspen Centre and Confederation of Indian Industry (CII) in Mumbai. Dr Rajan further mentioned that in the difficult times, environment for growth has to be achieved in the right way by working hard towards recovery and aiming at sustainable growth.  While the monetary policy will be accommodative there is room to expand sustainable growth potential. By continuing with reforms that the government and regulators have announced a sustainable growth potential can be achieved.
 
Speaking about RBI’s key task to support growth he mentioned that it would focus on keeping the interest rates low in the near term as well as future to have a moderate interest rate regime to help borrowers as well as the savers. It will also focus on cleaning up the banking sector of the distressed assets, so that it can fund the growth agenda. He also suggested that India must resist special interest rates for targeted stimulus, long tax breaks, subventions, subsidies, directed credit, all of which historically rendered industry un-competitiveness with government over extended and country incapable of gaining its rightful position among nations.
 
Mentioning about what RBI is trying to do and what more it needs to do in improving the environment of the financial sector Dr Rajan, elaborated on four aspects like, need to foster competition and innovation; creating hospitable environment to those who don’t belong to the club; dealing with distress for improving structures and strengthening human capital in the financial sector. 
 
Rahul Bajaj, Chairman, Bajaj Auto Ltd, while delivering his welcome remarks mentioned that financial sector reforms should be a continuous process so that they are aligned and are future ready. He further elaborated that the role of reforms pertaining to financial sector should be to align rules and requirements among the multiple regulators so as to simplify; enable innovation and productivity in business for the benefit of customers and shareholders; stabilise the regulatory environment, create consistent and visible guidelines, and reduce risk amongst market participants and in the overall system in general and upgrade skills within the regulators through a healthy interaction and cross-pollination with private sector.
 

User

Education best way to fight poverty: Modi

Modi said every person wants his or her child to lead a life better than what they had led

 

More efforts are needed to eradicate poverty in the country and that education "is the best way to fight poverty", Prime Minister Narendra Modi said here on Friday.
 
"Our efforts to remove poverty over the years have not yielded the results we desired. The speed (of removing poverty) needs to improve," Modi said at a rally in Uttar Pradesh's Varansi city, also his parliamentary constituency.
 
He said every person wants his or her child to lead a life better than what they had led. 
 
"I urge all of you (in this gathering), whatever circumstances are, ensure that your children receive education. Education is the best (and even the least expensive) way to fight poverty," he said.
 

User

COMMENTS

MG Warrier

1 year ago

Allow me to quote 2 paras from my article “Human development indicators: Need for a National Education Plan” posted at this site on October 17, 2012(Included as Chapter III.4 Literacy: A tool for Development in my 2014 book “Banking, Reforms & Development: Development Issues in 21st Century India”. I had submitted a copy of my book to PM in August 2014, which was acknowledged):
Ensuring universal education, which alone can bring about a change in the quality of governance also, must at this stage graduate into a massive movement supported by political will, whole-hearted participation from all households, legislatures, local bodies and educational institutions, failing which, the present effort also will remain a restatement of noble intentions with no specific ground level results.
*** ***
One is tempted to fear that there are some vested interests like an interest in keeping unskilled labour cheap and still worse, showing higher percentage of children passing out of schools and joining colleges (such statistics would better the country’s position in international assessments!) which keep the drop-out level before Standard X alarmingly high. The targets for Gross Enrolment Rates at secondary level can be achieved with ease if pass out percentage at primary level is low!

M G Warrier

Eureka! World's first invisibility cloak now a reality

Although the cloak is only microscopic in size, the principles behind the technology should enable it to be scaled-up to conceal macroscopic items as well

 

Turning science fiction and fantasy into a stunning reality, scientists from the US Department of Energy (DOE)'s Berkeley Lab and University of California (UC)-Berkeley have devised the first-ever ultra-thin invisibility “skin” cloak that can conform to the shape of an object and conceal it from detection with visible light.
 
Although the cloak is only microscopic in size, the principles behind the technology should enable it to be scaled-up to conceal macroscopic items as well.
 
Working with brick-like blocks of gold nanoantennas, the Berkeley researchers “fashioned a “skin” cloak barely 80 nanometers in thickness.
 
It was wrapped around a 3D object about the size of a few biological cells and arbitrarily shaped with multiple bumps and dents.
 
The surface of the skin cloak was meta-engineered to reroute reflected light waves so that the object was rendered invisible to optical detection when the cloak is activated.
 
“This is the first time a 3D object of arbitrary shape has been cloaked from visible light,” said Xiang Zhang, director of Berkeley Lab's Materials Sciences Division and a world authority on metamaterials.
 
“Our ultra-thin cloak now looks like a coat. It is easy to design and implement, and is potentially scalable for hiding macroscopic objects,” he said in a paper that appeared in the journal Science.
 
It is the scattering of light - be it visible, infrared or X-ray - from its interaction with matter that enables us to detect and observe objects.
 
For the past 10 years, Zhang and his research group have been pushing the boundaries of how light interacts with metamaterials, managing to curve the path of light or bend it backwards -- phenomena not seen in natural materials -- and to render objects optically undetectable.
 
In the Berkeley study, when red light struck an arbitrarily-shaped 3D sample object in area that was conformally wrapped in the gold nanoantenna skin cloak, the light reflected off the surface of the skin cloak was identical to light reflected off a flat mirror, making the object underneath it invisible even by phase-sensitive detection.
 
The cloak can be turned "on" or "off" simply by switching the polarisation of the nanoantennas.
 
“A phase shift provided by each individual nanoantenna fully restores both the wavefront and the phase of the scattered light so that the object remains perfectly hidden,” explained co-lead author Zi Jing Wong.
 
The ability to manipulate the interactions between light and metamaterials offers future prospects for technologies such as high resolution optical microscopes and superfast optical computers.
 
Invisibility skin cloaks on the microscopic scale might prove valuable for hiding the detailed layout of microelectronic components or for security encryption purposes.
 
At the macroscale, among other applications, invisibility cloaks could prove useful for 3D displays.
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)