Tuesday 1 April 2008 - CAT is finally going online
The common admission test (CAT) will finally go online from 2009. The Indian Institute of Managements (IIMs), including the Rajiv Gandhi Indian Institute of Management, Shillong, issued a pre-qualification bid on Monday inviting service providers, IT firms specialising in assessment and testing services, for computerisation of the CAT exam. ET reported this first on October 24, 2007.
The decision will benefit thousands of students who take CAT each year. Last year 2,30,000 students appeared for CAT and the numbers are expected to increase to more than 3,00,000 in 2008. According to sources, the IIMs are contemplating conducting CAT online for almost 15 days, during which students can choose when to take the exam. Initially the IIMs were contemplating a time period of 30 days.
"The initiative will be rolled out in 2009. The idea is to provide a time window, whereby students can take the examination within the stipulated period," said IIM Lucknow director Dr Devi Singh. The last forum of IIM directors' was held at IIM Lucknow on February 21. An additional reason to take the CAT online is to reduce the time spent on administration and evaluation process. When ET contacted IIM-Ahmedabad director Prof Samir Barua he said he had "no comments to offer on the recent development".
The decision comes after a long wait. According to sources, the first directors' forum was held in July 2007 where Prometric, one of the leading testing and assessment services firm, made a presentation to the directors of all seven IIMs.
The pre-qualification bid document states that the service provider will undertake tasks right from application processing, test construction, test delivery, result processing to score reporting. Prometric and Attest Testing Services (a wholly owned subsidiary of Aptech) among various other testing and assessment services firms are expected to bid for the contract. With the CAT going online, 124 other management institutions which use the CAT score will also streamline their admission processes in accordance with the new system.
Experts, though, believe that there will be significant challenges the IIMs will have to overcome to implement a robust system, the primary one being providing physical infrastructure. There is a case where implementation on such a large scale has failed the computerisation of the Xavier's admission test (XAT) in 2002.
Students' will not be charged exorbitantly for taking the exam online. According to sources, the price is expected to increase marginally, about 40-50% from Rs 1,100 now to about Rs 1500-1600. Discuss about this at ManagementJuice.com
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Friday 29 February 2008 - Quick Budget 2008 overview
Quick Budget overview from IBNLIVE.com
1. Tax exemption hiked from Rs 1,10,000 to Rs 1,50,000
2. Minimum relief of Rs 4,000 to all assessees
3. 10% tax between Rs 1.50,001 and Rs 3,00,000
4. 20% tax between Rs 3,00,001 and Rs 5,00,000
5. 30% tax on income above Rs 5,00,001
6. No change in corporate income tax rate
7. Women exemption hiked to Rs 1,80,000
8. Tax exemption for senior citizens upto Rs 2.25 lakhs
9. Tax exemption for women up to Rs 1,80,000
10. Banking cash transaction tax withdrawn from April 1, 2009
11. Indirect tax proposals to result in loss of Rs 5,000 cr
12. Direct tax proposals to be revenue neutral
13. Dividend of subsidiary company exempt from DDT
14. Reduce central sales tax to 2%
15. Increase in short term capital gains tax to 15%
16. 5-yr tax holiday for setting up hospitals in tier-II, tier III regions
17. Excise duty of Rs 1.35/litre on unbranded petrol
18. Excise duty of Rs 4.6/litre on unbranded diesel
19. Commodities Transactions Tax to be introduced
20. Securities Transaction Tax to be treated like deductible expenditure
21. 5-yr tax holiday to 2,3,4-star hotels in UNESCO's heritage sites
22. NO FBT on creche, employee sports, guest houses facilities
23. No change in corporate income tax rate
24. No change in corporate surcharge tax
25. Duty on two wheelers reduced from 16 to 12 pc
26. Tax slab for Rs 3-5 lakh is 20%, above 5 lakhs 30%
27. Senior citizens' exemption hiked from Rs 1,95,000 to 2,25,000
28. Women exemption threshold hiked from Rs 1,45,000 to 1,80,000
29. Tax exemption hiked from Rs 1,10,000 to Rs 1,50,000
30. Duty on non filter cigarettes to be raised
31. Excise duty slashed to 8% on water purification items
32. Duty withdrawn on naptha for production of polymers
33. Reduce excise duties on anti-AIDS drugs
34. Tax-GDP ratio up at 12.5%
35. Excise on paper and paper products reduced
36. Excise duties on buses, chassis slashed
37. Excise on small cars to 14%
38. Excise on pharma goods slashed to 14%
39. General CENVAT rate on all goods from 16% to 14%
40. Customs duty on few bulk drugs cut to 5%
41. Customs duties on crude sulphur reduced to 2%
42. Exempt on duties on coral
43. Duties on convergence products slashed to 5%
44. Fully exempt duties on Set top boxes
45. Reduce duties on steel melting scrap, aluminum scrap
46. No change in peak rate of customs duties
47. Revenue Deficit will be 1.4 % agt Budget Estimate of 1.5%
48. Planning Commission to evaluate major schemes
49. Sixth central pay commission to submit report by March 31, 2008
50. Grant of Rs 50 cr to Natl Tiger Conservation Authority
51. Rs 75 cr to ICCR for cultural development
52. Defence allocation hiked by 10% to Rs 1,05,600 cr
53. Rs 32,676 crore as subsidy to PDS
54. Smart-card based PDS system in Haryana, Chandigarh
55. Allocation of Rs 44 cr to 22 Sainik schools each
56. Rs 75 cr to Agri Ministry for soil testing labs in 250 districts
57. Rs 15,000 cr for non-profit body for skilled dev programme
58. Launch a world-class skilled development programme
59. PAN requirement for all securities transactions
60. To start a forex derivative market
61. More transparency in the derivative market
62. Risk Capital Fund to be set up in SIDBI
63. National Highway Dev programme gets Rs 12,966 cr
64. Accelerated power development programmes to get Rs 8,000 cr
65. Ultra mega power project at Tilana shortly
66. Rs 12,956 Cr for NHDP
67. Banks to be encouraged to embrace total financial inclusion
68. Foreign invt up to $8 bn expected for oil block exploration
69. Coal regulator to be set up
70. 17 lakh families of weavers under Health Insurance
71. State data centres scheme approved and get Rs 275 cr
72. 1 lakh broadband-enabled common service centres in villages
73. Enhance allocation of NHDP programme
74. Rs 800 cr for power reforms
75. Manufacturing growth rate to be taken to double digit
76. RIDF corpus to be hiked to Rs 14,000 cr
77. Total estimate of loans being waived is Rs 50,000 cr
78. Implementation of debt waiver scheme to end by June 30
79. Waiver amounts to 4% of total bank loans
80. Rescheduled farm loans eligible for waiver
81. Sensex down 210 points
82. Speaker calls for silence
83. Din in House over PC's relief plans to farmers
84. Marginal, small farmers to get full waiver on all loans
85. 500 soil testing labs to be set up in the country
86. Scheme of debt waiver and debt relief for farmers
87. Allocation for NRHM increased to Rs 12,050 cr
88. National Horticulture Mission gets Rs 1,100 cr
89. Weather-based crop insurance scheme to get Rs 50 cr
90. Rs 20,000 cr for irrigation projects under AIPB
91. Special grant of Rs 20 cr to Tea Research Association
92. Rs 500 cr to be allocated for micro irrigation schemes
93. More funds for cardamom, coffee growing
94. Rashtriya Krishi Vikas Yojana to get Rs 2,80,000 cr
95. 53 minor irrigation programmes to be implemented
96. Target of Rs 2.80 lakh cr for agri-credit in 2008-09
97. Ministry of Woman and Child Dev gets Rs 7,200 cr
98. 24% increase in allocation for child development
99. Rs 500 cr for development of border areas
100. Rs 1,042 cr for anti-Polio drive
101. Jawaharlal Nehru Urban Renewal Mission to get Rs 6,865cr
102. Growth of agri-credit impressive
103. Allocation for ICDS increased to Rs 6,300 cr
104. Minority Affairs Ministry fund doubled to Rs 1,000 cr
105. 288 PSU bank branches in minority districts
106. Rs 540 cr for development plan for minority districts
107. Rs 500 cr for corpus fund to subsidise all women
108. LIC to cover all women Self-help Groups linked to banks
109. Rs 200 crore for potable water in schools
110. Rs 12,050 cr for strengthening rural health services
111. Sanitation programmes to get Rs 1200 cr
112. More minority recruitments in central para-military forces
113. ICDS allocation hiked to Rs 6,300 cr
114. Rs 300 cr for desalination plant near Chennai
115. Rs 75 cr for Rajiv Gandhi Natl Fellowship Prog
116. Natl Handicap Development Corp to get Rs 9 cr
117. Natl Minorities Development Corp to get Rs 75 cr
118. Allocation for NE schemes up from 14,365 cr to 16,400 cr
119. Rajiv Gandhi Drinking Water mission allocation hiked
120. NREG scheme to be rolled out in 596 districts
121. National Rural Health Mission allocation hiked by 15%
122. Remuneration of Anganwadi helpers hiked to Rs 750
123. Remuneration of Anganwadi workers hiked to Rs 1,500
124. 3 IIScs in Bhopal and Trivandrum
125. National Programme for the Elderly to be set up
126. Rs 30,000 health cover for every worker in unorganised sector
127. 2 schools of Planning and Architecture
128. Secondary education Scheme Rs 4,554 crore
129. Rs 100 cr to Ministry of Science and tech for Natl Knowledge Network
130. All knowledge bodies to be connected via broadband
131. Rs 85 crore to building a knowledge society
132. Scholarships for science and research
133. Education and Health allocation up 20%
134. Service Sector to grow at 10.7%
135. 3 IITs in AP, Bihar and Rajasthan
136. 16 central universities to be set up
137. Mid-day meal scheme extended to upper primary classes
138. Budgetary allocation for mid-day meal scheme Rs 8,000 cr
139. Rs 10 cr for Nehru Kendras in 110 districts
140. Rs 34,400 cr budgetary allocation for education
141. Sarva Shiksha Abhiyaan gets Rs 13,100 cr
142. Bharat Nirman Programme gets allocation of Rs 31,280 cr
143. 410 Vidyalayas in villages
144. Navodiya Vidyalayas in 6,0-00 districts
145. 6,000 model high schools to be set up
146. Agricultural growth rate at 2.6%
147. Education, health pillars of social sector reforms
148. 2008-09 will be a year of consolidation
149. Budget 08-09 about raising our sights, doing better
150. Capital inflows in excess of economic deficit
151. Confident of maintaining 8% growth
152. Impact of global mkts on local mkts unclear
153. Govt, RBI to jointly work to check capital inflow
154. Govt will monitor foreign fund inflow
155. Check foreign inflow to stabilise Indian mkts
156. Capital Inflow needs to be managed more actively
157. Agri credit doubled in first 2 years of UPA rule
158. Global markets are weak
159. Inflation will be checked
160. Sustained progress thanks to economic reforms
161. Launched Rashtriya Krishi Vikas Yojna
162. All time record for food grain output in 2007
163. Total output of food grains 219.32 mn tonnes
164. We must be vigilant for downside risk
165. Crude oil down significantly
166. Agriculture was disappointing
167. Capital inflow poses a challenge to monetary management
168. Growth rate is 8.8%
169. Service sector is the driver of Budget
170. Since Aug 2007 financial economies witnessed turmoil
171. 2007-08 has been a challenging year
172. Finance Minister P Chidambaram begins addressing Parliament
173. Pandemonium in the House as Oppn holds up speech
174. This is PC's seventh Budget, UPA government's last before it goes to poll next year
175. The next Union Budget will be a vote-on-account because of general elections
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Friday 29 February 2008 - Finance Minister Budget 2008 Speech
Budget
2008-2009
Speech
of P.
Chidambaram (Minister
of Finance Indai)
Mr. Speaker, Sir
I rise to present the
Budget for 2008-09. This House and the United Progressive Alliance Government
have bestowed upon me the honour of presenting all five Budgets on behalf
of a Government - a rare honour that I have the privilege to share with
only one of my distinguished predecessors, Dr. Manmohan Singh.
I. THE ECONOMY: AN
OVERVIEW
2. Honourable Members!
The India growth story, so far, has been an absorbing and inspiring
tale. Beginning January 1, 2005, the economy has recorded a growth rate
of over 8 per cent in 12 successive quarters up to December 31, 2007.
In the first three years of the UPA Government, the Gross Domestic Product
(GDP) increased by 7.5 per cent, 9.4 per cent and 9.6 per cent, resulting
in an unprecedented average growth rate of 8.8 per cent. In the current
year too, according to the Advance Estimates by the Central Statistical
Organisation (CSO), the growth rate will be 8.7 per cent - although
I am confident that we will maintain the average of 8.8 per cent. The
drivers of growth continue to be "services" and "manufacturing",
which are estimated to grow at 10.7 per cent and 9.4 per cent, respectively.
3. Nevertheless, 2007-08
has been the most challenging of the last four years. At the beginning
of the year, the outlook for the global economy was benign. Our economy,
thanks to our own policies as well as globalisation, was poised to record
another year of high growth: in fact, the first half of 2007-08 returned
a growth of 9.1 per cent. However, since August 2007, the financial
markets in the developed countries have witnessed considerable turbulence
that has not yet abated. The consequences for developing countries are
also not yet clear.
4. Moreover, agriculture
has struck a disappointing note. Despite a fine start in the first half
of 2007-08, the growth rate for the whole year in agriculture is estimated
at only 2.6 per cent.
5. There are other
downside risks too. World prices of crude oil, commodities and food
grains have risen sharply in the period April 2007 to January 2008.
The position of crude oil is well known to this House. Among commodities,
the prices of iron ore, copper, lead, tin, urea etc are elevated. The
prices of wheat and rice have increased in the world market by 88 per
cent and 15 per cent, respectively. All these trends are inflationary,
and there is pressure on domestic prices, especially on the prices of
food articles. Consequently, the management of the supply side of food
articles will be the most crucial task in the ensuing year.
6. We have also witnessed
capital inflows that are far in excess of the current account deficit.
This poses a challenge to monetary management. The solution lies in
increasing the absorptive capacity of the economy in the medium term.
In the short term, it is our responsibility to manage the flows more
actively. Government will, in consultation with the RBI, continue to
monitor the situation closely and take such temporary measures as may
be necessary to moderate the capital flows consistent with the objective
of monetary and financial stability.
7. Keeping inflation
under check is one of the cornerstones of our policy. Recently, the
Prime Minister declared, "I think no Government in our country
can be oblivious to the objective of ensuring reasonable price stability
without hurting the growth process." There can be no clearer enunciation
of policy. However, since the downside risks have increased worldwide,
we must be vigilant and prepared to make swift adjustments in our policies
to achieve the goal of growth with price stability.
8. Let me first deal
with agriculture, briefly for the present, and at some length later.
The Ministry of Agriculture has estimated that the total output of food
grains in 2007-08 will be 219.32 million tonnes and that will be an
all time record. In particular, production of rice is estimated at 94.08
million tonnes; maize at 16.78 million tonnes; soya bean at 9.45 million
tonnes; and cotton at 23.38 million bales (of 170 kg each) - and each
of these will be an all time record. Government is conscious that while
a lot has been done, a lot more needs to be done. Since the last Budget,
Government has formulated and announced the National Policy for Farmers.
Besides, Government has launched the Rashtriya Krishi Vikas Yojana with
an outlay of Rs.25,000 crore and the National Food Security Mission
with an outlay of Rs.4,882 crore. Both schemes will be implemented during
the Eleventh Five Year Plan period. We are determined to become self-sufficient
in food grains. Presently, I shall place before this House a number
of new initiatives in the agriculture sector.
The Growth Story:
Faster and more inclusive
9. To return to the
India growth story, I am of the firm belief that we owe our sustained
progress to the policy of economic reforms first ushered in by a Congress
Government and now carried forward by the UPA Government.
10. If 1984 and 1991
were turning points in the history of India's economy, 2004 was another
turning point. Confident that high growth was sustainable, the UPA Government
had declared in the National Common Minimum Programme its intention
to make growth more inclusive. Sir, I ask this House, respectfully,
to judge our record on inclusive growth from the following sample of
facts:
agricultural credit
doubled in the first two years of this Government and is poised to reach
a level of Rs.240,000 crore by March 2008.
the National Rural
Employment Guarantee Scheme has proved to be a historic measure of empowerment
of Scheduled Castes and Scheduled Tribes and, especially, of women.
the Mid Day Meal
Scheme is the largest school lunch programme in the world covering 11.4
crore children.
the National Rural
Health Mission has taken improved health care to rural India by strengthening
the primary health centres of which 8,756 have been made 24 x 7.
the Kasturba Gandhi
Balika Vidyalaya Scheme has enrolled 182,000 girls in residential schools,
thus helping to bridge the gender gap in education.
Bharat Nirman
11. Bharat Nirman has
made impressive progress in 2007-08. This ambitious programme is now
over 1,000 days old. At the current pace, on each day of the year 290
habitations are provided with drinking water and 17 habitations are
connected through an all weather road. On each day of the year 52 villages
are provided with telephones and 42 villages are electrified. On each
day of the year 4,113 rural houses are completed.
12. Mr. Speaker, just
as I sat down to write this speech, I received a slim volume titled
"Indira Gandhi - Selected Sayings". Within minutes, I found
this gem and I quote, "The more one does, the more one attempts,
the more one is capable of doing". What I have narrated so far
is indeed proof of more inclusive growth, but if you ask me "can
we do better?", my answer would be "we can and we should."
Budget 2008-09 is about raising our sights and doing more and doing
better.
II. THE ELEVENTH FIVE
YEAR PLAN:
THE CRUCIAL SECOND
YEAR
13. The Eleventh Plan
has started on a note of robust growth. Never before did we start a
Plan with a first year growth rate of 8.7 per cent. Government regards
the second year of the Plan as extremely critical to the success of
the Plan. 2008-09 should be a year of consolidation; of securing the
ongoing programmes on firm financial foundations; of close monitoring
of implementation and enforcing accountability; and of measuring the
outcomes in terms of the targets achieved as well as their quality.
The Plan documents assumed that the Gross Budgetary Support (GBS) in
the second year would be Rs.228,725 crore. In our view, that will not
be enough. Hence, I propose to increase the GBS to Rs.243,386 crore,
which will represent an increase of Rs.38,286 crore over the allocation
in 2007-08.
14. Out of the GBS,
the allocation for the Central Plan will be Rs.179,954 crore, marking
an increase of 16 per cent over 2007-08.
15. Let me assure the
House that all ongoing programmes will receive ample funds.
16. For Bharat Nirman,
I propose to provide Rs.31,280 crore [including the North Eastern Region
(NER) component] as against Rs.24,603 crore in 2007-08.
Education: Sarva
Shiksha Abhiyan
17. Education and health
are the twin pillars on which rests the edifice of social sector reforms.
The total allocation for the education sector (including NER) will be
increased by 20 per cent from Rs.28,674 crore in 2007-08 to Rs.34,400
crore in 2008-09.
18. Of this, Sarva
Shiksha Abhiyan (SSA) will be provided Rs.13,100 crore; the Mid-day
Meal Scheme will be provided Rs.8,000 crore; and secondary education
will be provided Rs.4,554 crore.
19. The focus of SSA
will shift from access and infrastructure at the primary level to enhancing
retention; improving quality of learning; and ensuring access to upper
primary classes.
20. A Model School
programme, with the aim of establishing 6,000 high quality model schools,
will be started in 2008-09. I propose to provide Rs.650 crore for the
new scheme.
Jawahar Navodaya
Vidyalaya
21. Jawahar Navodaya
Vidyalayas are quality schools. In order to make such schools more accessible
to SC and ST students, Government plans to establish Navodaya Vidyalayas
in 20 districts that have a large concentration of Scheduled Castes
and Scheduled Tribes. I propose to set apart Rs.130 crore in 2008-09
for this purpose.
Kasturba Gandhi
Balika Vidyalaya
22. Kasturba Gandhi
Balika Vidyalayas were set up to address the issue of equity in the
education of girls belonging to SC, ST, OBC and minority communities.
So far, 1,754 vidyalayas have been started, and I propose to allocate
funds (as part of SSA) to set up an additional 410 vidyalayas in educationally
backward blocks. I also propose to provide a sum of Rs.80 crore to set
up new or upgrade existing hostels attached to the Balika Vidyalayas.
National Means-cum-Merit
Scholarship
23. Last year, I had
announced the National Means-cum-Merit Scholarship Scheme to enable
students to continue their education beyond class VIII and up to class
XII. I had provided Rs.750 crore with the promise to add a like amount
every year for three more years. The Scheme will be implemented by award
of 100,000 scholarships beginning 2008-09. I intend to keep my promise
and earmark another sum of Rs.750 crore so that a corpus of Rs.3,000
crore will be built up in four years.
Nehru Yuva Kendra
24. 123 districts do
not have a Nehru Yuva Kendra. I propose to allocate Rs.10 crore in 2008-09
to set up a Kendra in each of these districts and to cover the recurring
expenditure in the first year.
Mid-day Meal Scheme
25. The Mid-day Meal
Scheme has been extended to upper primary classes in 3,479 educationally
backward blocks. The scheme will now be extended to upper primary classes
in Government and Government-aided schools in all blocks in the country.
This will benefit an additional 2.5 crore children, taking the total
number of children covered under the Scheme to 13.9 crore.
Institutes of Higher
Education
26. Knowledge is power.
It is knowledge that will drive success in the 21st century. India has
the opportunity to become a knowledge society. Following the Prime Minister's
announcement, an IIM at Shillong; three IISERs at Mohali, Pune and Kolkata;
and an IIIT at Kanchipuram have started functioning. Government will
establish one Central University in each of the hitherto uncovered States.
We propose to make a beginning in 2008-09 by establishing 16 Central
Universities. Besides, we propose to set up three IITs in Andhra Pradesh,
Bihar and Rajasthan; two IISERs at Bhopal and Tiruvananthapuram; and
two Schools of Planning and Architecture at Bhopal and Vijayawada. More
institutes of higher education, as promised by the Prime Minister, will
be established during the Eleventh Plan period.
27. I also propose
to make a grant of Rs.5 crore to the Deccan College Post-Graduate and
Research Institute, Pune which is one of the oldest institutions of
modern learning in India.
Science and Technology
28. We must encourage
our children to take to careers in science and research and development.
Ministry of Science and Technology will introduce a scheme called Innovation
in Science Pursuit for Inspired Research (INSPIRE) that will include
scholarships for young learners (10-17 years), scholarships for continuing
science education (17-22 years) and opportunities for research careers
(22-32 years). I propose to provide Rs.85 crore in 2008-09 for this
inspired contribution to building a knowledge society.
29. The recommendations
of the National Knowledge Commission, submitted from time to time, are
under active consideration. Some of them have been incorporated in the
Eleventh Plan. Government has accepted an important recommendation to
inter-connect all knowledge institutions through an electronic digital
broadband network. This will encourage sharing of resources and collaborative
research. I propose to provide Rs. 100 crore to the Ministry of Information
and Technology for establishing the National Knowledge Network.
Health
30. Turning to the
health sector, I propose to allocate Rs.16,534 crore for the sector
(including NER). This will mark an increase of 15 per cent over the
allocation in 2007-08.
National Rural Health
Mission
31. The National Rural
Health Mission (NRHM) is the key instrument of intervention by the Central
Government. The goal is to establish a fully functional, community owned,
decentralised health delivery system. 462,000 Associated Social Health
Activists (ASHAs) and link workers have been trained and are in place.
177,924 Village Health and Sanitation Committees are functional. 323
district hospitals have been taken up for upgradation. Ambitious goals
have been set for 2008-09, and I propose to increase the allocation
for NRHM to Rs.12,050 crore .
HIV/AIDS
32. The National Aids
Control Programme will be provided Rs.993 crore. Studies have shown
that the prevalence rate of HIV/AIDS has come down from 0.9 per cent
to 0.36 per cent, which is a matter of some satisfaction.
Polio
33. The drive to eradicate
polio continues with a revised strategy and a focus on the high risk
districts in Uttar Pradesh and Bihar. I propose to provide Rs.1,042
crore in 2008-09 for this purpose.
Rashtriya Swasthya
Bima Yojana
34. Two major interventions
are planned to be started in 2008-09. The first is the Rashtriya Swasthya
Bima Yojana that will provide a health cover of Rs.30,000 for every
worker in the unorganised sector falling under the BPL category and
his/her family. I am happy to report that most of the States have agreed
to join the Yojana and it will be launched in Delhi and in the States
of Haryana and Rajasthan on April 1, 2008. I propose to provide Rs.205
crore as the Centre's share of the premia in 2008-09.
National Programme
for the Elderly
35. The other major
intervention will be for the elderly. A National Programme for the Elderly
with a Plan outlay of Rs.400 crore will be started in 2008-09. Among
other measures, we will establish, during the Eleventh Plan period,
two National Institutes of Ageing, eight regional centres, and a department
for geriatric medical care in one medical college/tertiary level hospital
in each State.
Integrated Child
Development Services
36. The universalization
of the Integrated Child Development Services (ICDS) Scheme is underway.
At the end of December 2007, 5,959 ICDS projects and 932,000 Anganwadi
and mini-Anganwadi centres were functional. The beneficiary count had
increased to 629 lakh children and 132 lakh pregnant and lactating mothers.
I propose to enhance the allocation for ICDS from Rs.5,293 crore in
2007-08 to Rs.6,300 crore in 2008-09.
37. I am also happy
to announce that the remuneration of Anganwadi workers will be increased
from Rs.1,000 per month to Rs.1,500 per month. Likewise, the remuneration
of Anganwadi Helpers will be increased from Rs.500 per month to Rs.750
per month. Over 18 lakh Anganwadi workers and helpers will benefit from
the increase.
Flagship Programmes
38. As Honourable Members
are aware, there are eight flagship programmes of the UPA Government.
I have dealt with two in the education sector (SSA & MMS) and two
in the health sector (NRHM & ICDS). Let me now refer to the allocations
that I propose to make for the other four flagship programmes:
The National Rural
Employment Guarantee Scheme (NREGS) will be rolled out to all 596 rural
districts in India. Initially, we will provide Rs.16,000 crore. Let
there be no apprehension in anyone's mind: as demand rises, more money
will be provided to meet the legal guarantee of employment.
The Jawaharlal
Nehru National Urban Renewal Mission (JNNURM) is the main vehicle for
improving urban infrastructure. It has also succeeded in driving reforms
in urban governance and urban-related laws. I propose to increase the
allocation from Rs.5,482 crore in 2007-08 to Rs.6,866 crore in 2008-09.
The goal of the
Rajiv Gandhi Drinking Water Mission is to supply safe drinking water
to uncovered habitations and slipped back habitations as well as to
address issues of quality. I propose to enhance the allocation to Rs.7,300
crore in 2008-09 as against Rs.6,500 crore in 2007-08.
The Mission does not
yet have a separate component for school children in water-deficient
habitations. Our children should have good, clean drinking water. Hence,
I propose to allocate funds to the Mission under a separate sub-head
in order to install a standalone system to provide potable water to
each school in water-deficient habitations. The cost of each system,
depending on the technology and design, is estimated to be between Rs.15,000
to Rs.30,000. While a detailed plan for four years will be drawn up,
I propose to make an initial allocation of Rs.200 crore in 2008-09.
The Total Sanitation
Campaign is all about changing habits and mindsets, and it is a continuous
process. I propose to provide Rs.1,200 crore in 2008-09.
Desalination Plant
39. Honourable Members
will recall that I had in July 2004 announced support for a desalination
plant to be installed near Chennai. A proposal has now been received
from the Government of Tamil Nadu to establish a plant under public
private partnership. While the proposal will be examined for approval,
I propose to signal the Government's support to the project by setting
apart Rs.300 crore in 2008-09.
North Eastern Region
40. The North Eastern
Region (NER) will continue to receive special attention and enhanced
allocations. I propose to provide Rs.1,455 crore to the Ministry of
Development of North Eastern Region (DONER). Including that amount,
the total Budget allocation for NER, spread over different ministries/departments,
will increase from Rs.14,365 crore in 2007-08 to Rs.16,447 crore in
2008-09.
41. The North Eastern
Region and, especially, Arunachal Pradesh and the border areas face
special problems that cannot be tackled in the usual course or through
normal schemes. Hence, Government proposes to identify the urgent needs
of these areas and address them through a special mechanism. In order
to jumpstart the process, I propose to set apart a sum of Rs.500 crore
in a fund dedicated for the purpose.
SC, ST, OBC and
Minorities
42. Scheduled Castes,
Scheduled Tribes, socially and educationally backward classes, and minorities
will continue to receive special attention.
Development and
Finance Corporations
43. Development and
Finance Corporations have been set up for certain disadvantaged groups.
I propose to contribute additional equity to these corporations in the
following manner:
Rs.
Crore
1
National Minorities
Development and Finance Corporation
75.00
2
Three National Finance
and Development Corporations for Weaker Sections comprising
(i) Safai Karamcharis
(ii) Scheduled Castes
(iii) Backward Classes
106.50
3
National/State Scheduled
Tribes Finance and Development Corporations
50.00
4
National Handicapped
Development Corporation
9.00
Scholarships
44. In previous Budgets,
we had announced a slew of pre- and post-matric scholarship programmes
for SC, ST, OBC and minorities. All of them will be continued in 2008-09
with adequate funds as summarised below:
Scheduled Castes Rs.804
crore
Scheduled Tribes Rs.195
crore
Other Backward Classes
Rs.164 crore
Minorities (post-matric)
Rs.100 crore
45. I propose to allocate
a sum of Rs.75 crore in 2008-09 to the Rajiv Gandhi National Fellowship
Programme. As Honourable Members are aware, this programme supports
SC and ST students pursuing M.Phil and PhD courses.
Scheduled Castes
and Scheduled Tribes
46. Following the practice
initiated in 2005-06, I have included in the Budget documents a statement
on the schemes for the welfare of SCs and STs. I have provided Rs.3,966
crore for schemes benefiting SCs and STs exclusively and Rs.18,983 crore
for schemes where at least 20 per cent of the benefits are earmarked
for SCs and STs.
Minorities
47. The allocation
to the Ministry of Minority Affairs will be increased from Rs.500 crore
in 2007-08 to Rs.1,000 crore in 2008-09. Government has taken up the
report of the Justice Rajindar Sachar Committee for speedy implementation.
Apart from the schemes commenced in 2007-08, it is proposed to implement
the following schemes/measures in 2008-09:
a multi-sectoral
development plan for each of the 90 minority concentration districts
will be drawn up at a cost of Rs.3,780 crore. The allocation in 2008-09
will be Rs.540 crore;
a pre-matric scholarship
scheme with an allocation of Rs.80 crore next year;
a scheme for modernising
Madrassa education for which a provision of Rs.45.45 crore has been
made in 2008-09;
256 branches of
public sector banks have been opened this year until December 2007 in
districts with substantial minority population. 288 more will be opened
by March 2008 and many more in
2008-09; and
continuing the
exercise started this year, more candidates belonging to the minority
communities will be recruited to the Central Para-Military Forces.
48. I also propose
to provide Rs.60 crore to enhance the corpus fund of the Maulana Azad
Education Foundation.
Women and Children
49. I confess that
policy makers often tend to forget that one-half of the population is
constituted by women and they are entitled to an equal share - and an
equal say - in all programmes and schemes. Gender Budgeting has gained
wider acceptance and credibility. Four more ministries/departments have
set up gender budgeting cells taking the total number to 54. Honourable
Members will find in the Budget documents a statement embracing 33 demands
for grants contributed by 27 ministries/departments and 5 Union Territories.
According to the statement, Rs.11,460 crore has been provided for 100
per cent women-specific schemes and Rs.16,202 crore for schemes where
at least 30 per cent is for women-specific programmes.
50. We will score another
'first' this year. A statement on child related schemes is included
in the budget documents and Honourable Members will be happy to note
that the total expenditure on these schemes is of the order of Rs.33,434
crore.
51. I propose to allocate
Rs.7,200 crore in 2008-09 to the Ministry of Women and Child Development.
This represents an increase of 24 per cent over the allocation in 2007-08.
Self Help Groups
52. The Life Insurance
Corporation of India (LIC) runs the Janashree Bima Yojana and offers
life and permanent disability cover to people in 44 categories. One
of the categories is Self Help Groups, but only 35,000 SHGs have been
covered so far. Considering the fact that there are over 30 lakh SHGs
credit-linked to banks, I propose to single out this category for special
attention. I propose to ask LIC to rapidly scale up the scheme and cover
all women SHGs that are credit-linked to banks. Since one-half of the
premium is subsidized through the Social Security Fund, I propose to
contribute Rs.500 crore to the corpus of the fund with the assurance
that annual contributions will be made as the scheme is scaled up. This
scheme, together with the Rashtriya Swasthya Bima Yojana, will mark
the beginning of a new deal for women by providing them life and health
cover.
Supplement to GBS
53. Honourable Members
will note that the allocations to various sectors and schemes are generous.
I hasten to add that more can be done and more will be done subject,
however, to one condition: the condition of performance. In the last
Budget, I had announced a Plan 'B' and I was able to provide additional
Plan funds of Rs.8,365 crore in cash through two supplementaries - and
a third one will follow shortly. The nub of the problem lies in implementation
- and implementation mostly is in the hands of State Governments. This
year too, I intend to mobilise additional resources to the tune of Rs.10,000
crore to be used for Plan capital expenditure. This money - under Plan
'B' - will be available to ministries/departments of the Central Government
and to State Governments that achieve the physical and quality targets
set under different Plan schemes.
III. AGRICULTURE
54. I shall now return
to the subject of agriculture.
55. I have already
referred to the Rashtriya Krishi Vikas Yojana and the National Food
Security Mission.
Agricultural Credit
56. Notwithstanding
some shortcomings, the growth of agricultural credit has been impressive
and for this I have to thank our scheduled commercial banks and Regional
Rural Banks. Between them, they account for about 75-79 per cent of
agricultural credit disbursed during any year. We will exceed the target
set for 2007-08. For 2008-09, I propose to set a target of Rs.280,000
crore.
57. Short-term crop
loans will continue to be disbursed at 7 per cent per annum and I am
making an initial provision of Rs.1,600 crore for interest subvention
in 2008-09.
Investment in Agriculture
58. What ails agriculture,
among other things, is the fall in investment. However, there seems
to be a turnaround. Gross Capital Formation (GCF) in agriculture as
a proportion of GDP in the agriculture sector has improved from a low
of 10.2 per cent in 2003-04 to 12.5 per cent in 2006-07. This, however,
needs to be raised to 16 per cent during the Eleventh Plan to achieve
the target growth rate of 4 per cent.
Water Resources
59. Government is investing
heavily in the Accelerated Irrigation Benefit Programme (AIBP) and the
Rainfed Area Development Programme and in the management and augmentation
of water resources. Under AIBP, 24 major and medium irrigation projects
and 753 minor irrigation schemes will be completed in this financial
year, creating additional irrigation potential of 500,000 hectare. The
outlay for 2007-08 was Rs.11,000 crore with a grant component of Rs.3,580
crore. These are being increased in 2008-09, and the estimated outlay
is Rs.20,000 crore with a grant component of Rs.5,550 crore.
60. The Rainfed Area
Development Programme has been finalised and will be implemented in
2008-09 with an allocation of Rs.348 crore. Priority will be given to
those areas that have not been the beneficiaries of watershed development
schemes.
61. The centrally sponsored
scheme on micro irrigation launched in January 2006 has brought an area
of 548,000 hectare under drip and sprinkler irrigation within two years.
I propose to allocate Rs.500 crore for the scheme in 2008-09 with a
target of covering another 400,000 hectare.
62. Agreements have
been signed with the World Bank by the Governments of Tamil Nadu, Andhra
Pradesh and Karnataka under the project to repair, renovate and restore
water bodies. The three agreements are for a total sum of US$738 million
that will benefit a command area of 900,000 hectare. I am confident
that similar agreements will be signed soon between the World Bank and
the Governments of Orissa, West Bengal and some other States.
Irrigation and Water
Resources Finance Corporation
63. While these ongoing
programmes will raise the level of investment in agriculture, I think
that we need an ambitious scheme of a much larger proportion. Government
is of the view that massive investments are required to be made in irrigation
projects. Recently, Government has approved 14 projects that satisfy
certain criteria as national projects and three of them alone would
require Rs.7,000 crore during the Eleventh Plan period. Having regard
to the magnitude of the challenge, I propose to establish the Irrigation
and Water Resources Finance Corporation (IWRFC) with an initial capital
of Rs.100 crore contributed by the Central Government. State Governments
and other financial institutions will be invited to contribute to the
equity. It is our intention to mobilise the very large resources that
will be required to fund major and medium irrigation projects. I hope
to be able to incorporate IWRFC as a company before March 31, 2008.
National Horticulture
Mission
64. The National Horticulture
Mission (NHM) now covers 340 districts in 18 States and two Union Territories.
An area of 276,000 hectare has been brought under horticulture crops
and an area of 56,000 hectare of old plantations has been rejuvenated.
Special thrust is being given to the revival of crops such as coconut,
cashew and pepper. NHM will be provided Rs.1,100 crore in 2008-09.
65. 500 soil testing
laboratories will be set up in the public and private sectors during
the Eleventh Plan period with Government assistance of Rs.30 lakh per
laboratory. In addition, I propose to make a one-time allocation of
Rs.75 crore to the Ministry of Agriculture in order to provide one fully-fitted
mobile soil testing laboratory each to 250 districts of the country
before March 2009.
Plantation Crops
66. The Special Purpose
Tea Fund set up last year for re-plantation and rejuvenation will be
provided Rs.40 crore in 2008-09. I propose to provide funds for similar
support to other plantation crops such as cardamom (Rs.10.68 crore),
rubber (Rs.19.41 crore) and coffee (Rs.18 crore). A crop insurance scheme
for tea, rubber, tobacco, chilli, ginger, turmeric, pepper and cardamom
will be introduced next year.
67. In order to promote
research on matters concerning the plantation sector, I propose to make
a one-time grant of Rs.5 crore to the Centre for Development Studies,
Tiruvananthapuram. The Tocklai Experimental Station at Jorhat of the
Tea Research Association will celebrate its centenary in 2010. It is
in the process of upgrading its facilities and expanding its activities
to cover other North Eastern States, North Bengal and Darjeeling. I
propose to make a special centenary grant of Rs.20 crore to the Tea
Research Association.
68. The National Plant
Protection Training Institute at Hyderabad will be converted and upgraded
into an autonomous National Institute of Plant Health Management with
budgetary support of Rs.29.4 crore.
Crop Insurance
69. Pending a decision
on an alternative crop insurance scheme that is acceptable to the farmers
as well as viable to the insurer, the National Agriculture Insurance
Scheme (NAIS) will be continued in its present form for Kharif and Rabi
2008-09. I propose to provide Rs.644 crore for the scheme.
70. In addition, the
Weather Based Crop Insurance Scheme that is being implemented as a pilot
scheme in selected areas of five States will be continued. I intend
to provide Rs.50 crore for this purpose in 2008-09.
71. Government will
continue to provide fertilisers to farmers at subsidized prices. Government
is examining proposals to move to a nutrient based subsidy regime and
alternative methods of delivering the subsidy.
Cooperative Credit
Structure
72. The Prof. Vaidyanathan
Committee's report on reviving the short-term cooperative credit structure
is under implementation in 17 States. So far, a sum of Rs.1,185 crore
has been released by the Central Government to four States. I am happy
to report that the Central Government and the State Governments have
reached an agreement on the content of the package to implement the
Prof. Vaidyanathan Committee's report on reviving the long-term cooperative
credit structure. The cost of the package is estimated at Rs.3,074 crore,
of which the Central Government's share will be Rs.2,642 crore or 86
per cent of the total burden.
Debt Waiver and
Debt Relief
73. Sir, while I am
confident that the schemes and measures that I have listed above will
give a boost to the agriculture sector, the question that still looms
large is what we should do about the indebtedness of farmers. Honourable
members will recall that Government had appointed a Committee under
Dr. R. Radhakrishna to examine all aspects of agricultural indebtedness.
The Committee has since submitted its report and it is in the public
domain. The Committee had made a number of recommendations but stopped
short of recommending waiver of agricultural loans. However, Government
is conscious of the dimensions of the problem and is sensitive to the
difficulties of the farming community, especially the small and marginal
farmers. Having carefully weighed the pros and cons of debt waiver and
having taken into account the resource position, I place before this
House a scheme of debt waiver and debt relief for farmers:
(i) All agricultural
loans disbursed by scheduled commercial banks, regional rural banks
and cooperative credit institutions up to March 31, 2007 and overdue
as on December 31, 2007 will be covered under the scheme.
(ii) For marginal farmers
(i.e., holding upto 1 hectare) and small farmers (1-2 hectare), there
will be a complete waiver of all loans that were overdue on December
31, 2007 and which remained unpaid until February 29, 2008. In respect
of other farmers, there will be a one time settlement (OTS) scheme for
all loans that were overdue on December 31, 2007 and which remained
unpaid until February 29, 2008. Under the OTS, a rebate of 25 per cent
will be given against payment of the balance of 75 per cent.
(iii) Agricultural
loans were restructured and rescheduled by banks in 2004 and 2006 through
special packages. These rescheduled loans, and other loans rescheduled
in the normal course as per RBI guidelines, will also be eligible either
for a waiver or an OTS on the same pattern.
(iv) The implementation
of the debt waiver and debt relief scheme will be completed by June
30, 2008. Upon being granted debt waiver or signing an agreement for
debt relief under the OTS, the farmer would be entitled to fresh agricultural
loans from the banks in accordance with normal rules.
(v) Government estimates
that about three crore small and marginal farmers and about one crore
other farmers will benefit from the scheme. The total value of overdue
loans being waived is estimated at Rs.50,000 crore and the OTS relief
on the overdue loans is estimated at Rs.10,000 crore.
I appeal to Honourable
Members - as well as to the people of India - to give their unqualified
support to the scheme and help Government implement this momentous decision.
IV. INVESTMENT, INFRASTRUCTURE,
INDUSTRY AND TRADE
74. Since 2005-06,
there has been an unmistakable boom in investment. Two indicators tell
the story. The saving rate and the investment rate in 2003-04 were 29.8
per cent and 28.2 per cent, respectively. According to estimates made
by the Economic Advisory Council to the Prime Minister, they will be
35.6 per cent and 36.3 per cent, respectively, by the end of 2007-08.
The trend is reflected on the foreign investment side too. During the
period April-December 2007-08, foreign direct investment amounted to
US$12.7 billion and foreign institutional investment to US$18 billion.
Our policy is to encourage all sources of investment, domestic and foreign,
private and public.
75. In 2008-09, Government
will provide Rs.16,436 crore as equity support and Rs.3,003 crore as
loans to Central Public Sector Enterprises (CPSEs). 44 CPSEs are listed
today. It is the policy of the Government to list more CPSEs in order
to unlock their true value and improve corporate governance.
Rural Infrastructure
Development Fund
76. The Rural Infrastructure
Development Fund (RIDF) is the main instrument to channelize bank funds
for financing rural infrastructure, and it is quite popular among State
Governments. Therefore, I propose to raise the corpus of RIDF-XIV in
2008-09 to Rs.14,000 crore. I also propose to operate a separate window
under RIDF-XIV for rural roads with a corpus of Rs.4,000 crore.
Manufacturing Sector
77. There has been
some moderation in the index of production of the six core infrastructure
industries as well as in the overall index of industrial production
for the period April-December 2007-08. The decline has been somewhat
sharp in the case of consumer goods, especially consumer durables. The
silver lining is that the growth in capital goods is still very high
at 20.2 per cent, indicating that industry continues to make huge capital
investments and has a positive outlook about the future. Manufacturing
industries that have grown more slowly than the average include food
products, cotton textiles, textile products including apparel, paper
and transport equipment. Among the reasons for the moderation are a
rise in interest rates and the appreciation of the Rupee. There are
limits to monetary policy accommodation, especially when the need is
to maintain price stability. However, some steps can be taken on the
fiscal side and I shall, presently, place before the House some proposals
in order to stimulate industrial growth. Our goal is to take the manufacturing
growth rate to a double digit. This will also call for more reforms
in the coal and electricity sectors as well as confronting oligopolistic
tendencies in the cement and steel sectors.
Power
78. The Eleventh Plan
target for additional power generation capacity is 78,577 MW which is
more than the total capacity added in the previous three Plans. By end
March 2008, we will achieve Commercial Operation Date (COD) on about
10,000 MW, marking the best first year in any Plan period. Government
will redouble its efforts to ensure that the ambitious target for the
Eleventh Plan is achieved.
79. The fourth Ultra
Mega Power Project (UMPP) at Tilaiya will be awarded shortly. It is
possible to bring five more UMPPs in Chhattisgarh, Karnataka, Maharashtra,
Orissa and Tamilnadu to the bidding stage provided the States extend
the required support. I urge them to do so.
80. Government has
approved the continuation of the Rajiv Gandhi Grameen Vidyutikaran Yojana
during the Eleventh Plan period with a capital subsidy of Rs.28,000
crore. I propose to allocate Rs.5,500 crore in 2008-09 for the Yojana
(including NER).
81. I propose to provide
Rs.800 crore in 2008-09 for the Accelerated Power Development and Reforms
Project. However, it is the poor state of transmission and distribution
(T&D) that is a drag on the sector. Huge investments are required
to be made in T&D, but linked to fundamental reforms. Hence, I propose
to create a national fund for transmission and distribution reform.
The details of the scheme will be worked out and announced very soon.
Roads
82. All phases of the
National Highway Development Programme continue to make progress. The
completion ratio in the Golden Quadrilateral is 96.48 per cent and in
the North South, East West Corridor project is 23.36 per cent. Special
attention is being paid to SARDP-NE, a programme devised for the North
Eastern region. 180 kms of roads were completed in 2007-08 and the target
for 2008-09 is 300 kms. I propose to enhance the allocation for the
NHDP from Rs.10,867 crore in 2007-08 to Rs.12,966 crore next year.
Oil and Gas
83. The 7th round of
bidding under the New Exploration Licensing Policy (NELP) was launched
in December 2007 and bids have been invited for 57 exploration blocks.
It is estimated that the round will attract investment of the order
of US$3.5 billion to US$8 billion for exploration and discovery.
Coal
84. 53 coal blocks
with reserves of 13,842 million tonnes have been allotted during April-January
2007-08 to Government and private sector companies. A new Coal Distribution
Policy was notified in October 2007. A coal regulator will be appointed.
Information Technology
85. Government's forward
looking policy is driving the growth of Information Technology and Information
Technology Enabled Services. I propose to enhance the allocation to
the Department of Information Technology from Rs.1,500 crore in 2007-08
to Rs.1,680 crore in 2008-09. A scheme for establishing 100,000 broadband
internet-enabled Common Service Centres in rural areas and a scheme
for establishing State Wide Area Networks (SWAN) with Central assistance
are under implementation. A new scheme for State Data Centres has also
been approved. I propose to provide Rs.75 crore for the common service
centres, Rs.450 crore for SWAN and Rs.275 crore for the State Data Centres.
Textiles
86. The two principal
schemes of the Ministry of Textiles - the Scheme for Integrated Textile
Parks (SITP) and the Technology Upgradation Fund (TUF) - will be continued
in the Eleventh Plan period. All 30 integrated textile parks have been
approved and 20 units in four parks have commenced production. I propose
to maintain the provision for SITP at Rs.450 crore in 2008-09. The provision
for TUF will be increased from Rs.911 crore in the current year to Rs.1,090
crore in 2008-09.
87. The cluster approach
to the development of the handloom sector has made rapid progress. 250
clusters are being developed. 443 yarn banks have been established.
By March 2008, over 17 lakh families of weavers will be covered under
the health insurance scheme. I propose to increase the allocation to
Rs.340 crore in 2008-09.
88. In order to scale
up both infrastructure and production, it is proposed to take up six
centres for development as mega-clusters. Varanasi and Sibsagar will
be taken up for handlooms, Bhiwandi and Erode for powerlooms, and Narsapur
and Moradabad for handicrafts. Each mega-cluster will require about
Rs.70 crore. I propose to start the process with an initial provision
of Rs.100 crore in 2008-09.
Micro, Small and
Medium Enterprises
89. Micro, small and
medium enterprises will continue to receive support from the Government.
I wish to remove certain wrong perceptions about the sector. In the
four years ending 2006-07, for which figures are available, there has
been a secular rise in the number of registered units, the number of
unregistered units, production, employment and exports. In order to
give a fillip to the sector, I propose to create a risk capital fund
in the Small Industries and Development Bank of India (SIDBI). As on
January 31, 2008, the Credit Guarantee Trust with SIDBI had extended
guarantees to 89,129 units for an amount of Rs.2,479 crore. SIDBI will
reduce the guarantee fee from 1.5 per cent to 1 per cent and the annual
service fee from 0.75 per cent to 0.5 per cent for loans up to Rs.5
lakh.
Foreign Trade
90. Merchandise exports
have come under some pressure due to the appreciation of the Rupee and
may fall just short of the target of US$ 160 billion, although the growth
rate was strong at 21.8 per cent during April-December 2007-08. Relief
was given to exporters in three tranches amounting to over Rs.8,000
crore. I may note that the interest cost of sterilization through market
stabilization bonds (MSS), estimated
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Saturday 19 January 2008 - The great IIM race
This year's results have reaffirmed that CAT is a tough exam to crack.
Only the very best can hope to obtain admission into an IIM. That,
however, does not deter lesser mortals from trying to get in.
The
results of CAT 2007 has flit past leaving lakhs of eager and hopeful
students, who had been hoping to get admission into the most reputed
B-Schools in the country, high and dry. The high standards of testing
ensured by this body ensure that only the crθme de la crθme can obtain
admission into the portals of these prestigious institutes.
This
is certainly a very commendable move in a country like ours that is
shackled with infinite constraints with reference to just about any
policy under the sun. The candidates who sail through the onerous
protocol set for them by the organisation will assure you that it is no
mean exercise, for they have had to work very hard to get a seat in the
most coveted establishment. As they say, "The proof of the pudding lies
in the eating" and year after year we find that IIM students land
themselves lucrative jobs at the end of the course.
Placement
In
fact recent statistics show that there has been one hundred per cent
placement of candidates who emerge as post graduates from these
institutes in the current year with an enviable package, while his
counter part from a lesser known institution is usually treated as a
lesser mortal in the job market.
Apparently, the secret of
success of candidates from the IIMs is not only based on their
consistent academic performance but also on their ability to face
bi-lateral challenges which cross their way during their tenure at the
institutions. A talk with the high-brow faculty at IIM-B reveals that
the unvarying accomplishment of their candidates lies in the kind of
training they receive to hone their intrinsic skills besides hard core
academics. For instance, the pioneering entrepreneurial cell NSRCEL
(Nadathur S Raghavan Centre for Entrepreneurial Learning) at the Indian
Institute of Management Bangalore, grooves in the concept of
value-creation through "informed entrepreneurship" which helps
potential entrepreneurs to experiment with the trends of the market
even before they enter it formally. While it is a matter of pride for
the institutions and the students themselves, it appears to be a matter
of growing concern to the society at large which is not able to make it
to these high-profile institutes.
The rat race to beat the CAT
is taking new demoniac dimensions year after year. The recent
examination saw two lakh candidates taking up the exam across the
country. Apparently all of them could not get in because of stringent
filtration processes which are a part of the admission procedure.
Response
When
a cross section of students who had appeared for the CAT exam from
Bangalore were consulted on the subject just about everybody said that
they did not do very well not only because the paper was very tough but
also because the university semester exams commenced two days after CAT
and their concentration was divided between the two exams.A random
survey revealed that more than fifty per cent of the candidates were
merely "giving it a shot" and another thirty per cent hoped to do well
in their XLRI or GMAT exams after undergoing a rigorous training to
take up the CAT.
Some of them hoped to "get through" the next
time and were quite satisfied with getting a taste of the paper. A few
of them confided that they had taken up the exam to mollify the ego of
their parents or family and it really did not matter one way or the
other if they failed to make it.It is quite possible that with the
exception of a section of earnest candidates who have really been
working hard for the exam the scene is more or less the same everywhere.
Yet
this year a couple of candidates did not mind undergoing a laborious
and expensive exercise which had them scheming and planning for months
together to pull wool over the eyes of the authorities on the "Red
Letter Day." Fortunately, they were caught 'red handed' which will
certainly make studious, earnest students repose their faith in the
organisation which believes in keeping its flag flying high.
The
craze to enter these esteemed IIMs has become an obsession with the
student community that is pursuing the last leg of their under-graduate
studies in a variety of streams but then these very candidates are also
aware of their capabilities and their diverse dreams which are
sometimes miles away from their educational pursuit. At the outset, the
situation appears to be a reasonable wish of a good student to aim
high, but a scratch at the surface apparently reveals a very different
picture which showcases indifferent students who are not highly
perturbed at not getting in.
Private colleges
Of
late, the MBA scene has changed radically as there are several private
colleges offering the MBA course under local universities and many of
them function on the lines of the IIMs. They have tie-ups with the
corporate world and run placement cells and entrepreneurial cells to
launch their students into the big bad world on their own two feet.
Many
students who have passed out appear to have no regrets about not having
been to the IIMs while to the others these mega institutes are spoken
about on the lines of "a case of sour grapes."
Such being the
case, perhaps it will be a wise move for the IIMs to stick to their
standards and maintain it at all costs. Perhaps they could add a couple
more institutes after careful consideration to their body that can
cater to the serious undergraduates, but certainly it is disgraceful
and unwarranted to cry over the rooftops and make a big fuss for large
scale expansion because it is bound to dilute the aura that has made
the organisation stand apart.
Via
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Saturday 19 January 2008 - IIM-A grads shun lucrative offers to stand on their own
They start early. And despite the road to entrepreneurship being tough,
they hold on, in many cases even failing in their venture. But
undeterred, they defy the logic of campus placements and lucrative job
offers to start on their own.
For at least five students of the
2006-08 batch of post-graduate management and agri-business programmes
(PGPM & PGPABM) of Indian Institute of Management-Ahmedabad
(IIM-A), starting their own venture is more lucrative than sitting for
campus placements. And this is just an initial estimate. The figure
might swell with the campus placements approaching, say IIM-A sources.
Last
year, the number of students who opted out of the placement process was
11. The number was six the year before that, and, according to
placement coordinator Piyush Sinha, this year, there will be more
students who would prefer to chart their own way. Students, too,
confirm that more students are likely to join the exclusive club of
young entrepreneurs of fresh graduates who sacrifice the comfort of a
lucrative job offer to embark on their own. Take the example of Kaushik
Mukherjee, who is back to the campus from summer internship with
Goldman Sachs in New York. The company has even extended him a job
offer, but that does not interest him anymore. He has, what he says,
better plans for his career.
Currently, working on an e-commerce
project, Kaushik is confident of translating his own venture into a
success. lootstreet.com, the website on which he is currently working
on along with his classmate and partner in business, Arun Balakrishnan,
is an attempt at "defining e-commerce in a new way".
Says
enthusiastic Kaushik, "We had this project in mind long ago and had
been working on it for quite some time. I did my summer internship with
Goldman Sachs that offered me a job. But we had long decided on
starting our own venture. We won't sit for campus placements." Another
IIM-A student of PGPM course, Nirmal Kumar, already has a business plan
up his sleeve. Not sitting for the placements is a certainty, says he.
But he refuses to disclose his future plans at this point. Says Kumar,
"All I can say is that the road I have taken is tough.
It is not
easy to shun the handsome salary offers and take the challenges of
entrepreneurship. I have dared to dream and I am positive it will give
me results." Agrees Nageshwar Neela Baburao, who too said no to
companies during summer placements and would be doing the same in the
upcoming placements. "With the kind of offers companies give, it is
difficult to decline them and stick to our own plans. A lot of students
from my batch have postponed their entrepreneurial plans and have taken
up placements," says Nageshwar, who is doing management in
agri-business at the institute. Nageshwar plans to set up a processing
plant for medicines. "I intend to start processing of medicinal plants
in India and take advantage of cheaper labour force.
This will
help shorten the supply chain," he says. All these to-be entrepreneurs
share one common bond: most of them had decided on taking the road less
travelled much before entering IIM-A gates. For Sidhharth Jaiswal,
another IIM-A student of agri-business management course,
entrepreneurship runs in the blood. Jaiswal, who belongs to a business
family, has had experience of running a venture based on cultivation
& processing of medicinal plants before joining IIM-A. He, too, has
plans for setting up his business, though he refused to disclose this
at this juncture.
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Saturday 19 January 2008 - The main ingredients of success
Everybody wants to be successful and those who go to B-schools have even greater expectations of success.
While that is reasonable, it is perhaps worthwhile to look at a few ingredients that make for phenomenal success. Sadly enough, those skills are not imparted at least, not in an organised manner at most B-schools in the country.
The power of communication: If one were to take a look at some outstanding business leaders, they have an important quality in common. They are all exceedingly good communicators. People like Jack Welch and Tom Peters, to name just two, were great communicators. Their vision and passion would come through clearly, both orally and in their writing.
Every budding manager needs to ask himself, "How good is my communication ability?" Today's youngsters crack the CAT, are amazing in numerical ability and data interpretation.
They do work on their verbal ability as well, but in practice, I suspect that they have miles to go in communication and this is one area where business schools, despite having courses in the area, do little work on.
Management is all about people: If I were to ask God for one skill, it would be the skill to communicate with people. Successful people manage their relationships at work and outside with great skill and most of them have acquired theirs outside of business school as it is rarely, if ever, taught there.
Observe successful people in action and learn from them. Yet it is important to be your own natural self: successful managers of people are their own genuine selves, not phoney, not superficial. So, how good are your people skills? Can you disagree without being disagreeable? Think about it.
Selling is key: Successful people are wonderful salesmen. They are passionate about their products, services and organisations. They have insatiable energy and do not take "no" for an answer.
Business schools teach sales management, but hardly ever teach their students how to sell. It is a skill that anyone who desires success must acquire and, as with mathematics, the only way to excel at it is to practice.
The three key attributes of success to my mind are the ability to communicate, skills with people and a strong desire to sell. Most importantly, it is critical to enjoy what you are doing.
As the famous singer Bob Dylan said: "If you get up in the morning and go to sleep at night and in between do what you like, consider yourself a successful man".
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Wednesday 9 January 2008 - Management education needs a new regulator
Some engineering colleges are collecting Rs10-15 lakh per seat and some B-schools are charging Rs 5-10 lakh per seat
In
the past few months, the growing resentment against India's regulator
of business and engineering schools, the All India Council for
Technical Education, or AICTE, has finally found expression in the
media, especially in this newspaper, which has systematically looked at
the functioning of the council as well as the behaviour of its top
officials.
While it is always possible that this spotlight will
be enough to make sure that a more credible leader, untainted by
nepotism and corruption charges, is installed at AICTE, that's not the
solution. There needs to be a restructuring of the whole system.
AICTE
has encouraged mediocrity in our higher education. The standards set
(see accompanying article) are for minimum requirements, such as
minimum number of permanent faculty, the minimum campus size, the
minimum built-up area. You get the drift. Many AICTE-approved
educational institutes have adhered to the minimum requirements and not
cared to go beyond. As a result, AICTE approval has become a licence
for them to be complacent and, of course, to make money.
Education
is one of the fastest growing businesses in India these days. An
average engineering college has annual revenues of anywhere between
Rs20 crore and Rs25 crore. An average business school has annual
revenues of Rs5-10 crore.
Since, in the present quota raj of the
AICTE, supply is restricted, getting students for an AICTE-approved
institute is not a big problem. By adhering to or managing AICTE rules,
an institute can generate an easy surplus of up to 50% of the revenues.
Since a not-for-profit society or trust is supposed to manage such
institutes, they simply devise ways to siphon off funds, such as owning
a for-profit body that bills the not-for-profit body for various
activities, such as maintenance or even for sourcing teachers. Then,
there are "donations" collected from students.
Some engineering
colleges are collecting Rs10-15 lakh per seat and some B-schools are
charging Rs 5-10 lakh per seat. Revenue from these back-door admissions
are, in most cases, not accounted for. Everything can be kept under
wraps because the school or trust's governing body is packed with close
relatives of the main promoter or, in some cases, relatives of AICTE
employees.
It is for this reason, I believe, that the present
AICTE law of not allowing for-profit bodies to run educational
institutes is flawed. Allowing companies to operateand competein this
field will at least prevent accumulation of "black" money and should
lead to better governance. At least, students will get better choices.
The
huge profits assured for educational institutes, in the present system,
is the reason why some serving or former AICTE officials, and many
politicians have opened educational institutes. About a dozen such
AICTE officials own engineering colleges and B-schools. While in
service, they put their close relatives in the governing body of the
trust or society. Once they retire, they take over. According to people
familiar with the regulator and its activities, the net worth of many
such officials is estimated at about Rs100 crore.
Clearly, there
are urgent reforms needed in regulating higher education. As a first
step, we need a separate regulator for engineering and business schools.
For
management education, which, in my view, is not a technical course, a
different approach is needed. The regulator in this case has to be more
like a facilitator. It could facilitate faculty development,
industry-institute interaction, standardization of programmes and
curriculum development. It can also accredit B-schools, which would be
a voluntary exercise. Its regulatory role will be primarily to redress
complaints of students and their parents if they feel that they have
been cheated. The present AICTE rule where it is mandatory for every
institute to have a disclosure page on their website is a good one. The
page, however, should clearly give details about each faculty member,
the infrastructure, the placements and the full fees being charged. If
students or parents feel that what is given on the disclosure page is
not in line with reality, they should be able to quickly and easily
register their complaint with the regulator.
The new regulatory
body can also be empowered to take action against those institutes that
take to false advertisements. I am constantly amazed at the lies being
told in ads from some B-schools, ads that newspapers and magazines
accept without any hesitation in their buyer-beware mode of thinking.
The new business education regulator should, however, not be allowed to
put restrictions on the growth of B-schools. They should have the
freedom of developing their curriculum, the facilities they provide and
fees they charge, provided everything is transparent.
It's time that
government stops its focus on policing higher education and concentrate
its efforts on primary and secondary education. Our higher education
market is mature enough to deserve freedom.
Premchand Palety is
director of the Centre for Forecasting and Research (C-fore) in New
Delhi, from where he keeps a close eye on India's business schools.
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Wednesday 9 January 2008 - IIM grads back with job offers
Four alumni of Indian Institute of Management-Ahmedabad (IIM-A) who had
opted out of the placement process last year to start their own
enterprise, are coming back to the campus in the next placement season
in March, 2008 for a different reason this time.
Though IIM-A
had relaxed its rules this year to allow students opting out to come
back for next two years for placements, this four-some will be in the
campus to hire fresh management graduates for their own venture which
has written a success story and needs more man power to take it to new
heights.
Vishal Prabhukhanolkar, Bhusan Davir, Vineeta Singh and
Debashish Chakravarty had last year spurned high profile job offers to
start their own venture 'ten-a-day', an online website providing
coaching for the CAT examination which is the gateway to the IIMs and
several other institutions. The venture, known as www.tenaday.co.in,
has logged nearly 22,000 registered users in its year of existence and
needs more hands now, said Vishal about why they are coming to IIM-A
next year.
The 'ten-a-day' website, the largest online CAT
preparation site, requires aspiring students to answer 10 questions
every day and also provides daily percentile rankings.
All this and
the explanations of the questions are for free. But the detailed
analyses of the answers have charges ranging from Rs 210 onwards. Other
institutes charge nearly Rs 14,000 for similar analyses, Vishal said.
Since
nearly two lakh students appear for the CAT every year and another six
lakh appear for other admission tests, the online website has a great
potentiality for growth, hoped the young entrepreneur who rejected a
fat pay packet to start this venture along with his three other
batchmates.
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Wednesday 9 January 2008 - CAT 2007 results out !
CAT 2007 results out !
The results of Common Admission Test, for admission to prestigious IIMs and other leading management institutes, has been announced this Tuesday.
Over two lakh B-school aspirants appeared for the written entrance test, CAT. The CAT results would be declared on its website as well as with all the IIMs on January 8.
Out of the vast number of initial aspirants only 2.5 per cent or around 5,000 will get short listed for group discussion and personal interviews. "The scores can be accessed by keying in the test registration number and either the date of birth or the CAT application number," as per the information on the website.
However, the details of the date and venue would be made available by post as well as on the individual IIMs web sites only after a few days.
The scores can also be obtained telephonically and through SMS.
For accessing results via SMS, one should send a message to 57333. The text should be: CAT -- a space, the registration number, one more space and the date of birth.
Students who are not able to get into one of the IIMs, can try their luck at one of the 111 management schools which use CAT scores for students intake.
Some of the best B-schools in this category are -- International Management Institute, K J Somaiya Institute of Management Studies & Research, Management Development Institute, Mudra Institute of Communications Ahmedabad and S P Jain Institute of Management & Research. Registration procedure for most of these management schools are already over and only those who filled up forms for individual institutes apart from their CAT forms would be eligible for selection.- PTI
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Saturday 5 January 2008 - Laterals begin with record Rs 40-lakh offer at IIM-Kozhikode
The lateral placement process has just kicked off and it's already raining money at the IIMs. At IIM-Kozhikode, students have got offers ranging between Rs 40 and Rs 50 lakh breaking all records from leading finance companies. A domestic finance firm has made a Rs 40-lakh offer, which is almost double that of the highest domestic offer during laterals. Around six companies from IT, consulting and finance have already visited the campus.
International finance firms have made associate offers to a few candidates. The final placements at IIM-K will be held from March 3-6. At IIM-Kozhikode, around 55% of the candidates have prior work experience. For lateral placement, the average work experience should be around 18-22 months. However, it varies as a few companies make offers to candidates with lesser work experience. With such a diverse batch profile and increased number of experienced candidates, the institute expects record final placements. At IIM-Ahmedabad, the process should begin within two days. Some of the recruiters expected to visit the campus include Citi Financial, Global eProcure and Microsoft.
The candidates at IIM-A, too, are seen to get huge offers, touching the crore mark, as a number of private equity firms are expected during the process. Usually, the job profile and packages offered by these players are much higher than those of recruiters from other sectors. A total of around 30 companies, including Tesco, Reliance, Arcelor-Mittal, Marico, P&G, HUL, Lehman Brothers, Booz Hamilton, IBM and Cognizant, are expected to visit the IIMs during lateral placements. At IIM-Lucknow, around 125 students from the batch of 265 have work experience of over 12 months.
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Saturday 5 January 2008 - UBS, P&G, HSBC and other coveted companies offer summer placements at SJMSOM, IIT Bombay
The summer placement process at Shailesh J. Mehta School of Management (SJMSOM) at IIT Bombay is now complete.
For the first time the summer placements 2007 at Shailesh J. Mehta School of Management (SJMSOM) at IIT Bombay witnessed various international offers with banking giant ICICI Bank and US Technology leading the way. SJMSOM was reports an increase of 80% in the number of companies coming to campus, over the last year. For a batch of 74 students around 42 companies participated in the process. According to SJMSOM, the highest stipend offered this time was staggering Rs
1.2 lacs excluding benefits.
First time recruiters included industry bigwigs like P&G, UBS, HSBC, American Express, HP, Cargill, Coca Cola, Enam, Britannia and many more. Companies like GE, Cargill, Marico, L'Oreal and RPG offered profiles across various domains.
The profiles offered at SJMSOM included private Equity, Business Strategy Development in Real Estate, Investment Banking, SCM and IT, Corporate, Finance, Leadership, Treasury, Risk Advisory Services, Sales and Marketing etc.
According to SJMSOM, "There was an even spread of students across various profiles."
Cargill, an international giant in the food, agriculture and risk management products and services business, offered multiple profiles in SCM, Sales & Marketing and Corporate Finance. Whereas, leading cosmetics and Beauty Company L'Oreal, which has been a traditional recruiter, offered profiles in Marketing and Operations. Cadbury, a world-renowned confectionery company, offered profiles in Operations. "Croda international, world leader in speciality chemicals, Britannia, leading Indian Food processing company, and Godrej Consumer Products, one of the major players in FMCG sector offered profiles in Sales & Marketing", says SJMSOM.
E & Y, one of the leading professional services firm in the world, The Progress Group (TPG), leaders in Logistics and Supply Chain Consulting, Synovate Business Consulting, one of the prominent consulting firms, Feedback Ventures, India's Leading Integrated Infrastructure Services Company, and strategy and management consulting firm Avalon Consulting offered exciting roles to the students in the consulting domain.
Reputed global financial services company American Express offered profiles in risk management. Tata Capital, the financial services arm of the Tata Group, offered multiple roles including that of Private Equity.
Enam, a leading financial services provider and ICICI Bank were some of the big names to offer Investment Banking. Lodha and Mayfair Housing, booming real estate sector offered the niche profile of Business Strategy Development.
According to SJMSOM, "The entire summer placement process was wrapped up just in 2 days with almost all students ending up with the profiles of their choice. This was despite a 40% increase in the batch strength from the previous year."
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Saturday 29 December 2007 - XAT aspirants nearing 1,00,000 mark
In a couple of days, around 90,000 management aspirants, will be taking the Xaviers Admission Test (XAT).
This is a 20 per cent increase in the number of candidates taking XAT from last year, when the figure stood at 75,000.
The number of colleges accepting XAT scores has also doubled from 23 in 2004 to 46 this year.
"The Indian industry today has a capacity to absorb management graduates like never before. Moreover, even the top B-schools have increased their batch sizes to meet the growing demand," KK Raman, executive director, KPMG said.
"A recent trend has emerged where good B-schools are accepting Common Admission Test as well as XAT scores. So deserving candidates who could not perform well in CAT for any reason, see XAT as an opportunity to get into a good business school (B-school," he adds.
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Saturday 29 December 2007 - PGDM, PGDM E-Business, PGDM Retail Management Pantaloon Programs 2008 ? 2010 - WELINGKAR
Welingkar is ranked 15th Nationally, 5th as per Recruiters and 3rd as per Functional Heads and Young Executives, and is the recipient of the Dr. J.J. Irani Best Management Institute Award. The Institute continues to strengthen it's association with the student & corporate community every year Pioneering programs for new sectors, unique career paths, and unconventional learning methods is what makes Welingkar unique.
Welingkar announces admissions to the following programs:
1. PGDM (2 year full-time: 180 seats) Specializations in Marketing, Finance, Retails, HR, Operations & Systems.
2. PGDM E-Business (2 year full-time: 60 seats)
3. PGDM Retail Management (Executive program with Pantaloon: 30 seats)
Eligibility: Candidates with minimum 50% in the Degree exam from a recognized University and consistently good academic record may apply. Final year students awaiting results may also apply.
Tests Accepted: Students may submit scores of any of the following tests: CAT (Nov.2007)/ MH-CET (2008)/XAT (2008)/ATMA (Feb.10, 2008). For details on ATMA, visit: www.atma-aims.org
Students may submit their scores online once they receive the same, (IIM's have no role either in the selection process or in the conduct of the program).
For details on the selection process visit:
www.welingkar.org
Protsahan Scholarships:
On the basis of their overall performance in the selection process, students, will be awarded Academic (full-tuition fee waiver), Global Internship (airfare sponsored) and Learning Resource (laptop sponsored) scholarships.
Cost of the Application Kits:
Rs.1250/- if purchased across the counter and Rs.1350/- (paid by DD) if ordered by post.
IMPORTANT DATES:
Start of sale of application kits. December, 2007.
Last Date for sale and submission: 28th February, 2008.
Group Discussions and Personal Interview Dates:
Delhi: Friday 25, Sat.26, 27 April 2008, Bengaluru: Sat.26, Sun. 27, April 2008, Mumbai: Fri.2, Sat.3 Sun, 4 May 2008; Kolkata: Sat. 3, 4 May 2008.
Application Kits are available at:
Select centers of IMS, PT Education, T.I.M.E., Career Launcher, Career Forum & Cerebral Heights (for details visit www.welingkar.org) and Welingkar Institute of Management; Mumbai Campus, Bengaluru & Delhi Office.
CONTACT: Welingkar Mumari: 022-24178300 Extn: 739/740/41. Bengaluru: 080-41303781/82, Delhi:011-41674077, 9212171051, 9810775688
Website: www.welingkar.org
Email:
admissions@welingkar.org
Students are advised to visit website for details prior to applying
WELINGKAR
L.N. Road, Next to R.A. Podar College, Matunga (CR), Mumbai-400019.
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Saturday 29 December 2007 - IIM placements to starts in February
Around 1,500 students across the prestigious Indian Institutes of Management (IIMs) are gearing up for one of the shortest final placement processes slated to kickoff in February. The first one to begin the process will be the youngest of the lot, IIM-Kozhikode, followed by IIM Indore, Lucknow, Bangalore, Ahmedabad and Kolkata.
While the process is expected to formally continue for six-odd days, with strong lateral placement and increased corporate interest, the institutes are expected to wrap up the final placement process in the first two placement slots (within the first four days of the process). The placement process will begin on February 20 at IIM-K, February 28 at IIM-Indore and on March 3 at IIM-Lucknow.
IIM-Bangalore will begin the placement process on March 4, followed by IIM-Ahmedabad on March 6 and IIM-Kolkata on March 8. "Each placement slot will be spread over two days. But this year, we expect most students to be placed within the first two slots," said IIM-Bangalore's placement committee member J Tejaswi. This year too, IIMs are expected to generate a lot of crorepati managers, thanks to the increased number of experienced candidates on campuses. This is already attracting a lot of corporates looking for executives with significant industry exposure.
Almost 40-50% students at IIMs have industry experience which is expected to ensure best ever lateral placement process. While the list for companies in the first two coveted slots is being prepared on campuses, the recruiters from several emerging sectors like private equity, retail and realty are finding maximum takers. Traditionally, the recruiters in the coveted slot zero and slot one of the placement process include consulting and investment banking firms. The recruiters expected to visit the campuses this year include Lehman brothers, Bain and Consulting, Deutsche Bank, HSBC, ABN AMRO, Tesco, Mahindra, IDFC, Marico, Booz Hamilton, Cognizant and RPG Retail, among others.
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Wednesday 26 December 2007 - NMAT 2007 - Paper Pattern
NMAT 2007 - Paper Pattern
NMAT test
which is the first selection step towards the reputed M.B.A degree offered
by the Narsee Monjee Institue of Management Studies is to be conducted on
30th December 2007 (for admission into the 2008-2010 batch) will be based
on the following pattern.
Pattern
1. NMAT will have 3 sections viz. Language Skills, Quantitative Skills,
Data Analysis & Sufficiency and Intelligence & Logical Reasoning
2. The total time for the test is 120 minutes.
3. The test will have sectional cut-offs and there is a negative marking
of 0.25 per question.
4. There will be NO General Awareness section this year.
NMAT
Structure and Attempt Strategy
|
Section
No |
Section
Name |
No
of Questions/ Marks |
Suggested
Time |
| 1 |
Language Skills |
40 |
30 |
| 2 |
Quantitative ability & DI |
60 |
55 |
| 3 |
Logical Reasoning |
50 |
35 |
| |
Total |
150 |
12 |
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Saturday 22 December 2007 - RGIIM, Shillong: PGP in Management
RAJIV GANDHI INDIAN INSTITUTE OF MANAGEMENT(RGIIM), MAYURBHANJ COMPLEX, SHILLONG 793014, has announced the Post-Graduate Programme in Management (PSP) 2008-2010 Batch.
PGP Admissions (2008-2010 Batch)
The
Institute offers the Post-Graduate Programme in Management (PGP), which
is a two year full time residential programme for graduate students
from all disciplines wanting to choose a career in Management. This
institute is also offering following programmes in management such as
Post-graduate Programme (PGP), Fellowship Programme (FPM), and
Management Development Programmes (MDPs).
Eligibility
The candidate must hold a Bachelor's Degree, with at least 50% marks or
equivalent CGPA 45 % in case of the candidates belonging to Scheduled
Caste (SC)/ Scheduled Tribe (ST)/ or Persons with Disability (PWD)
category], of any of the Universities incorporated by an act of the
central or state legislature in India or other educational institutions
established by an act of Parliament or declared to be deemed as a
University under section 3 of UGC Act, 1956, or possess an equivalent
qualification recognized by the Ministry of HRD, Government of India.
The Bachelor's Degree or equivalent qualification obtained by the
candidate must entail a minimum of three years of education after
completing higher secondary schooling (10+2) or equivalent. The
percentage obtained by the candidate in the bachelor's degree would be
based on the practice followed by the university/ institution from
where the candidate has obtained the degree. In case of the candidates
being awarded grades/CGPA instead of marks, the equivalence would be
based on the equivalence certified by the university/ institution from
where they have obtained bachelor's degree. In case the university/
institution does not have any scheme for converting CGPA into
equivalent marks, the equivalence would be established by the IIMs by
dividing obtained CGPA with the maximum possible CGPA and multiplying
the resultant with 100.
Candidates appearing for the final
year bachelor's degree / equivalent qualification examination and those
who have completed degree requirement and are awaiting result can also
apply. Such candidates must produce a certificate from the
Principal/Head of the Department/Registrar/Director of the university/
Institution certifying that the candidate is currently in the final
year / is awaiting final results and has obtained at least 50% marks or
equivalent (45% in case of candidates belonging to SC/ST/PWD category)
based on latest available grades/marks.
A candidate who is
appearing for the final year of bachelor's degree/equivalent
qualification if selected, will be allowed to join the programme
provisionally only if he/she submits a certificate latest by June
30,2008 from the Principal/Registrar of his/her college/institute
(issued on or before June 30, 2008) stating that the candidate has
completed all the requirements (the results may, however, be awaited)
for obtaining the bachelor's degree/equivalent qualification on the
date of issue of the certificate. The admission will be confirmed only
when the candidate submits the mark sheet and a certificate of having
passed the bachelor's degree/equivalent qualification referred to in
the certificate issued by the Principal/Registrar with at least 50%
marks (45% in case of candidates belonging to SC/ST/PWD category). The
deadline for submission of the mark sheet and the certificate is
December 31, 2008. Non-fulfillment of this condition will automatically
result in the cancellation of the provisional admission. IIMs would not
allow any candidate to join their programme in case the candidate is
unable to complete all the requirements for a bachelor degree on or
before June 30, 2008. The IIMs would also not offer admission to any
candidate after June 30, 2008.
Candidates with relevant managerial work experience are especially encouraged to apply.
POST-GRADUATE PROGRAMME IN MANAGEMENT
The PGDBM programme will commence from the academic session 2008-09 in
the temporary accommodation at Mayurbhanj Palace, which has been
renovated by state Government for the purpose. The Institute envisages
for its flagship programme, namely, Post Graduate Diploma in Business
Management (PGDBM), an annual student intake capacity of 60 in the
first year. This is planned to be subsequently increased up to 120 in
the third year and 180 in the sixth year. The Government of Meghalaya
has provided land of about 120 acres, free of cost for permanent campus
of RGIIM at Shillong.
By leveraging
the strong network of academicians, intellectuals, and industry
professionals drawn from across the globe, RGIIM would not only strive
to provide quality management education but would soon become a much
desired destination of students. Additionally, by providing impetus to
the progress of a backward region, it would help the government take a
step forward towards fulfilling one of its prime plan agenda, i.e., to
promote a balanced development of the country. For Overseas Candidates
The last date for Recieving completed applications from overseas candidates at RGIIM is January 15, 2008
.
Overseas candidates should apply with their GMAT scores. The score
should not be older than two years as on January 15, 2008. The second
stage comprises interviews and group discussions, which will be held in
India, some time in February / March 2008.
Application for Admission
Besides
the Post Graduate Programme, the Fellow Programme in Management and
Management Development Programmes, the Institute plans to focus on:
--Setting up a Human Resource Development Centre for States --Catering
to multiple markets --Nodal point in tackling the problems facing both
management education and industry in North East --Tourism and
hospitality management --Management of Tele services and Tele medicine
--Management of information systems and technology. Subjects of local
relevance such as horticulture, hydel power, etc. Procedure:
Candidates
seeking admission to the two years PGP of Rajiv Gandhi-Indian Institute
of Management, Shillong. Mehgalaya must have appeared in the Common
Admission Test (CAT) held on 18th November 2007 as described in the CAT
advertisement, which was published in leading news papers on Sunday, July 2007.
No Additional fees needs to be paid for applying to RGIIM, Shillong.
There are separate guidelines for international applicants. Canidates seeking admission must apply on-line at www.rgiim.org or download, print and forwarded by Speed Post. Candidates
short listed for GD and interview will be intimated the date for such
group discussions in due course of time. Individual regret letters are
not sent to applicants who are not called for group discussion and
interview. RG-IIM, Shillong would conduct reserves the right to change
the centers at any time if the situation so warrants. SELECTION:
Candidates are short-listed for GD and PI on the basis of their
performance in CAT/GMAT, academic record, and relevant work experience.
Final selection to PGP would be based on criteria, such as the
candidate's academic record, scholastics achievements, relevant work
experience, performance in CAT/MAT, group discussions and personal
interviews. DIPLOMAOn successful completion of the programme, the participants will be awarded the "Post Graduate Diploma in Management". Reservations:AS
per Government of India requirements, fifteen percent and seven and a
half per cent are reserved for Scheduled Caste and Schedule Tribe
candidates respectively meeting RG-IIM's admission requirements. The
three categories of disabilities are (i) low-vision/blindness (ii)
hearing impairment and (iii) locomotor disability/cerebral palsy. Reservation
of seats for candidates belonging to other backward classes starting
from the academic year 2008-2009 would depend upon the official
communication from the MHRD, Govt. of India. If any communication is
received from the appropriate authority with regard to reservation for
candidates belong to OBC category, it will be notified by the IIMs
accordingly. EXPENSES:
The fee payable by
each participant in the first year (2007-2008) is Rs.1,90,000/-. This
fee covers tuition, library, computing facilities, books and course
materials examination fees, hostel room charges, and other fees,
expenses on food, travel, clothes, laundry etc., are additional. The
annual estimated expenses for international candidates will amount to
US$13200 per annum including mess and caution deposit. Financial Assistance/Scholarships:RG-IIM
would try to ensure that no participant is denied an opportunity to
pursue the Postgraduate Programme in Management for want of adequate
financial resources. The applications must be submitted on or
before 10th January, 2008. Any essential enquiry in this regard may be
made by e-mail to director@rgiim.org. Mailing Address:
Rajiv Gandhi Indian Institute of Management C/o Office of the Vice-Chancellor NEHU Permanent Campus
Shillong-793022. Visit: www.rgiim.org |
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Wednesday 19 December 2007 - IIMs, XLRI, MDI, dominate Business World Top B-schools Survey rankings
There are no real surprises in the recently published 'India's Top B-schools' survey, conducted by a leading business magazine Business World (BW).
The BW survey, published in issue dated December 24 - 2007, puts Indian Institute of Management Ahmedabad at the top of the league tables. Apart from IIM-A, there are three other IIMs that make it to the Top 10 table.
Widely regarded as leading private B-schools, Xavier's Labour Relations Institute (XLRI), Management Development Institute (MDI), Faculty of Management Studies (FMS) Delhi, Mumbai based SP Jain Institute of Management & Research all make it to the Top 10 table. National Institute of Industrial Engineering, Mumbai is perhaps the only real surprise in the Top 10 list. IIM Bangalore did not offer complete details and was hence not ranked, says the survey.
Indian Institute of Foreign Trade, Narsee Monjee Institute of Management Studies, Mumbai and Institute of Management Technology, Ghaziabad are some other B-schools that have done well on the survey.
Amongst the B-schools that have moved up rapidly on the survey rankings, when compared to last survey in 2005, include Bangalore based Alliance Business Academy and Chennai based Loyola Institute of Business Management. Alliance Business Academy is ranked at # 15 and Loyola Institute is ranked at # 20.
Business World Survey 2007: Top B-schools league table
# 1 Indian Institute of Management, Ahmedabad
# 2 Indian Institute of Management, Kolkata
# 3 Xavier Labour Relations Institute, Jamshedpur
# 4 Indian Institute of Management, Kozhikode
# 5 Management Development Institute, Gurgaon
# 6 Faculty of Management Studies, Delhi
# 7 Indian Institute of Management, Lucknow
# 8 National Institute of Industrial Engineering, Mumbai
# 9 SP Jain Institute of Management & Research, Mumbai
# 10 Indian Institute of Management, Indore
# 11 Indian Institute of Foreign Trade, Delhi
# 12 Narsee Monjee Institute of Management Studies, Mumbai
# 13 Institute of Management Technology, Ghaziabad
# 14 Xavier Institute of Management, Bhubneshwar
# 15 Alliance Business Academy, Bangalore
Source: Business World, Dec 24, 2008
The Business World survey was done is conjunction with research agency Gfk- Mode. The survey contacted 202 B-schools of which ninety six B-schools participated by answering the questionnaire. Notably, the survey back checked all data with a 'facility audit'. Says Business World survey, "BW has followed the facility audit methodology. All these B-schools were visited and 2000 students were interviewed to verify the information." Taking about parameters used in the survey, BW says, "The scoring was done on five parameters, each with different weights." The survey also included feedback from recruiters.
Parameters and their weightages for BW are: Living Experience (campus infrastructure) 150; Learning experience (qualification and experience of faculty) 300; Placement experience (placement performance and salaries) 250; Return on Investment (salaries received in comparison to the cost of the programme) 200; International exposure (tie-ups with foreign campuses and exchange programme) 100. Weightages were allocated from a total of 1000.
According to BW, some of B-schools that did not participate in the survey include Jamnalal Bajaj School of Management, Institute of Rural Management Anand and Department of Management Studies, IIT Delhi.
This survey completes that 2007 B-school survey reports. As reported on this management portal earlier, several media rankings have been released in past few months. Prominent media rankings include Outlook, Business India and Business Today.
View Source
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Wednesday 19 December 2007 - MAT 2008
AIMA BUILDING MANAGERIAL EXCELLENCE
ALL INDIA MANAGEMENT ASSOCIATION TESTING SERVICE ISO 9001:2000 CERTIFIED
CENTRE FOR MANAGEMENT SERVICES (CMS) ENTRANCE TEST FOR MBA AND ALLIED COURSES
MANAGEMENT APTITUDE TEST
MAT in February 2008 (Sunday) Time: 1000 1230 Hrs.
ELIGIBILITY: Graduate in any discipline from a recognized university. Final year Degree course students can also apply.
HOW TO APPLY: Obtain MAT Bulletin and Application Form by post, by sending a DD for Rs. 690/- to AIMA CMS, drawn in favour of All India Management Association CMS payable at New Delhi along with two self-addressed slips/adhesive stickers. OR Obtain MAT Bulletin and Application Form on cash payment of Rs. 650/- at AIMA counter at Delhi (Phone: 24653382, 41757046), select Bank of Baroda Braches, AIMA Study Centres and Other Outlets.
Availability of MAT Bulletin is till : 14 January, 2008 (Monday)
Last Date for submission of filled in application forms at AIMA, New Delhi is: 18th January 2008 (Friday). Mobile and other infotech gadgets are not allowed inside Test Centre Campuses.
Over 350 Participating Institutes/ Universities
For listing, visit www.aima-ind.org
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Tuesday 18 December 2007 - CFA Program from the ICFAI University
The CFA Program from the ICFAI University, Tripura
The Institute of Chartered Financial Analysts of India University, Tripura A Statutory University, approved by UGC.
This Centre has announced The CFA Program: Leading to the CFA Charter and the MFA Degree
This programmes focuses on the areas of Financial Markets, Analysis and Valuation, Portfolio Management, Mutual and Other Funds and Code of Conduct.
The ICFAI Univerity, Tripura is mandated by law to offer the Chartered Financial Analyst Program and confer the CFA Charter and Designation on successful candidates, who will also receive the Master of Financial Analysis (MFA) Degree.
The Duration of this course is 18 months based on self-study and eligibility criteria: Graduation in any discipline. The Subject-wise waivers for Cas/CWAs/MBAs, etc. There will be an examination in 4 times a year at 168 Test Centers all over the India.
As per the recent Supreme Court decision, the CAs can now pursue the CFA Program and use the CFA designation.
For Details and Prospectus contact to the following centers:
Coimbatore: Ph:2541190, 4366447
Salem:Ph: 2332122/2442122
Erode: Ph:2266012/13
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Thursday 13 December 2007 - Diploma in Cyber Laws in India
Asian School of Cyber Law is now
collaborated with Government Law College, Mumbai is conducting Diploma
in Cyber Laws (6 months) under Distance Mode of Education. The
Application for this Diploma Course will be received until December 31,
2007 and classes will be commence from Jan. 2008 on wards. The
Eligibility criteria for this Diploma course, the candidate should have
a plus two(10+2) and the course fee will be Rs. 3600/-. This center
also will start Diploma courses by 3 months simultaneaously in a year.
For further details:
Head Office, 6th Floor, Pride Senate, Opp International Convention Center,
Senapati Bapat Road, Pune - 411016.I ndia
Contact Numbers
20-25667148, 20-40033365, 20-65206029, 20-6400 0000, 20-6400 6464
Fax: 20-25884192
Email:
info@asianlaws.org
URL: www.asianlaws.org
Bangalore Center
861, Shivaswamy Complex, 80 ft Road, 8th Block, Opp National Games Indoor Stadium, Koramangala, Bangalore - 95
Contact Numbers
80-41308099, 80-41534000
Mumbai 9225548601, 9324602256
Pune 9225548604
Bangalore 9243490885
Delhi
9212227459
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About Me
A blog on Management articles, Management news, Entrance tests, CAT, XAT, NMAT, GMAT, CET, SNAP, MAT, IELTS, TOEFL, Abroad studies and all the things that are related to management... Includes articles from sources known to me...
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