General Affairs
Farmer Suicides on Rise as Marathwada Reels under Severe Drought
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NAGPUR: Marathwada is reeling under the worst drought in recent years, pushing hundreds of locals to migrate to cities in search of livelihood, with Beed witnessing a steep rise in farmer suicides accounting for 105 cases in August itself.
The agrarian crisis in Marathwada has been compounded for the fourth successive year, forcing many of the 25 lakh people in drought-wrecked region, comprising 70 per cent of the area's population, to cities like Mumbai in Western Maharashtra.
While Vidarbha reports the highest farmer suicides in the state, cases have been spiralling in Marathwada too, which earlier faced a drought in 2012 and 2014. Crops had also been destroyed in the region which had been ravaged by hailstorms in 2013.
An official release said, Beed in Marathwada reported 105 farmer suicides in the single month of August this year with meagre rains destroying large swathes of crops.
The highest farmer suicides have been reported from Beed district with 177 cases this year. Osmanabad has recorded 98 cases while Latur has reported 61. The district of Parbhani has reported 41 cases so far this year, the release said.
Vasantrao Naik Sheti Swavalamban Mission (NNSSM) Chairman Kishore Tiwari claimed that 628 farmer suicides have been reported so far this year in Marathwada region.
The figure is already higher than the 574 cases recorded in Marathwada by the Revenue Department in the entire year of 2014 and three times higher than the cases recorded two years ago.
Out of Marathwada's eight districts, four - Beed, Latur, Osmanabad and Parbhani - are the worst affected this year. As rains played truant, Osmanabad district recorded a meagre 187.9 mm rainfall between June to August while Latur received 212 mm; Beed 173.4 mm, Aurangabad 285 mm, Ahmednagar 151.2 mm, Solapur 98.8 mm and Parbhani 188.7 mm, the release said.
Till now, the state has received an average of 55 percent rainfall (538.7 mm) and water storage in dams and lakes was to the tune of 49 per cent of its capacity, it said.
This time, as many as nine districts - Nashik, Ahmednagar, Solapur, Kolhapur, Beed, Latur, Osmanabad, Nanded and Parbhani - recorded poor rainfall between 26 to 50 percent.
NAGPUR: Marathwada is reeling under the worst drought in recent years, pushing hundreds of locals to migrate to cities in search of livelihood, with Beed witnessing a steep rise in farmer suicides accounting for 105 cases in August itself.The agrarian crisis in Marathwada has been compounded for the fourth successive year, forcing many of the 25 lakh people in drought-wrecked region, comprising 70 per cent of the area's population, to cities like Mumbai in Western Maharashtra.
An official release said, Beed in Marathwada reported 105 farmer suicides in the single month of August this year with meagre rains destroying large swathes of crops.
The highest farmer suicides have been reported from Beed district with 177 cases this year. Osmanabad has recorded 98 cases while Latur has reported 61. The district of Parbhani has reported 41 cases so far this year, the release said.
Vasantrao Naik Sheti Swavalamban Mission (NNSSM) Chairman Kishore Tiwari claimed that 628 farmer suicides have been reported so far this year in Marathwada region.
The figure is already higher than the 574 cases recorded in Marathwada by the Revenue Department in the entire year of 2014 and three times higher than the cases recorded two years ago.
Out of Marathwada's eight districts, four - Beed, Latur, Osmanabad and Parbhani - are the worst affected this year. As rains played truant, Osmanabad district recorded a meagre 187.9 mm rainfall between June to August while Latur received 212 mm; Beed 173.4 mm, Aurangabad 285 mm, Ahmednagar 151.2 mm, Solapur 98.8 mm and Parbhani 188.7 mm, the release said.
Till now, the state has received an average of 55 percent rainfall (538.7 mm) and water storage in dams and lakes was to the tune of 49 per cent of its capacity, it said.
This time, as many as nine districts - Nashik, Ahmednagar, Solapur, Kolhapur, Beed, Latur, Osmanabad, Nanded and Parbhani - recorded poor rainfall between 26 to 50 percent.
'Mastermind' of Thai Bomb Fled Before Attack: Police Sources
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BANGKOK: The suspected mastermind of Thailand's deadliest bomb attack fled the country on the eve of the blast at a Hindu shrine last month and others wanted by police are most likely overseas, according to sources with knowledge of the investigation.
Under police interrogation, one of two foreigners in detention admitted to delivering a rucksack to the bomber at Bangkok's main railway station on the evening of the August 17 attack, two police sources told Reuters.
Police believe the bomber is the yellow-shirted man still at large and caught by surveillance camera placing a backpack at the Erawan Shrine moments before the explosion that killed 20 people and wounded 130.
"The suspect insisted he didn't know what was in the bag," one of the sources involved in the investigation said.
The man being questioned, according to another police source, talked of a lead role played by a man named "Izan", who had fled via Bangkok's main airport a day before the attack. He had assigned responsibilities during a meeting of those involved.
"From the testimony we found that Izan is likely to be the mastermind but has already left," he said, without specifying his nationality or destination.
"It is likely others we've issued arrest warrants for have already fled."
The three police sources declined to be identified because they are not authorised to speak to media.
The details, which have yet to be confirmed, would mark rare progress in a case which the authorities have been criticised for handling haphazardly.
Deputy police chief Chakthip Chaijinda told Reuters the man had confessed to being part of a network and to being in the area of the bombing. Chakthip did not elaborate, but added police were looking for four more suspects.
Evidence has been limited to grainy security video at the shrine and the seizure of bomb-making materials in raids on two properties in Bangkok.
Wearing a flak jacket, the man Chakthip said had confessed was made to perform a reconstruction at the two locations before television cameras on Tuesday.
Forensic tests tie the detainees to the explosives, but not the site of the bombing, police say.
Authorities said there was no clear motive for the attack, in which 14 foreign tourists were killed.
Speculation has been rife about the perpetrators, from ethnic Malay insurgents and foreign militants to opponents of the government and sympathisers of Uighur Muslims from China, angered by Thailand's deportation to China in July of 109 members of the Turkic-speaking minority.
BANGKOK: The suspected mastermind of Thailand's deadliest bomb attack fled the country on the eve of the blast at a Hindu shrine last month and others wanted by police are most likely overseas, according to sources with knowledge of the investigation.Under police interrogation, one of two foreigners in detention admitted to delivering a rucksack to the bomber at Bangkok's main railway station on the evening of the August 17 attack, two police sources told Reuters.
Police believe the bomber is the yellow-shirted man still at large and caught by surveillance camera placing a backpack at the Erawan Shrine moments before the explosion that killed 20 people and wounded 130.
The man being questioned, according to another police source, talked of a lead role played by a man named "Izan", who had fled via Bangkok's main airport a day before the attack. He had assigned responsibilities during a meeting of those involved.
"From the testimony we found that Izan is likely to be the mastermind but has already left," he said, without specifying his nationality or destination.
"It is likely others we've issued arrest warrants for have already fled."
The three police sources declined to be identified because they are not authorised to speak to media.
The details, which have yet to be confirmed, would mark rare progress in a case which the authorities have been criticised for handling haphazardly.
Deputy police chief Chakthip Chaijinda told Reuters the man had confessed to being part of a network and to being in the area of the bombing. Chakthip did not elaborate, but added police were looking for four more suspects.
Evidence has been limited to grainy security video at the shrine and the seizure of bomb-making materials in raids on two properties in Bangkok.
Wearing a flak jacket, the man Chakthip said had confessed was made to perform a reconstruction at the two locations before television cameras on Tuesday.
Forensic tests tie the detainees to the explosives, but not the site of the bombing, police say.
Authorities said there was no clear motive for the attack, in which 14 foreign tourists were killed.
Speculation has been rife about the perpetrators, from ethnic Malay insurgents and foreign militants to opponents of the government and sympathisers of Uighur Muslims from China, angered by Thailand's deportation to China in July of 109 members of the Turkic-speaking minority.
After Mulayam Singh's Exit, RJD Lawmaker Rebels With 'Sahib, Biwi, Ghulam' jibe
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NEW DELHI: The Nitish Kumar-led Grand Alliance in Bihar, which was dumped recently by Mulayam Singh Yadav, has been served new worries, this time by Mohammad Taslimuddin, a prominent lawmaker from the Rashtriya Janata Dal headed by Lalu Yadav.
Mr Taslimuddin - widely seen as his party's Muslim face across eight important Bihar districts that are together called Seemanchal - today launched a vigorous attack on Chief Minister Nitish Kumar, who will seek a third term in the Bihar assembly elections, the dates for which will be announced soon.
Nitish Kumar, said Mr Taslimuddin to NDTV, "belongs to the same political class as the BJP" and a tie-up with him will only be playing into the hands of the BJP.
Mr Taslimuddin's party chief Lalu Yadav has committed to contesting the elections in alliance with Nitish Kumar, a one-time bitter rival, and the Congress to take on the BJP.
Last week, Samajwadi Party chief Mulayam Singh Yadav walked out of the alliance, miffed at being offered only five seats to contest. His party blamed the break-up on what it said was Nitish Kumar's disproportionate attention to the Congress and has said it plans to contest all 243 seats in the state.
"First Mulayam Singh was made the head of the grand alliance. Then he was offered just three seats. He wasn't called for the alliance rally and instead Sahib Biwi and Ghulam shared the stage," Mr Taslimuddin said, referring to a big rally in Patna attended by Mr Kumar, Mr Prasad and Congress chief Sonia Gandhi.
Seemanchal, with its 42 seats, is the only area in Bihar where the anti-BJP forces did well in the 2014 Lok Sabha elections. While the SP challenge is expected to play spoiler for the alliance, Mr Taslimuddin's rebellion could hurt it even more.
"The RJD-JD(U) alliance has already suffered a setback difficult to recover from. The SP was chased away, more people will leave," warned Mr Taslimuddin. He has refused to meet an emissary sent by Lalu Yadav to calm him down.
NEW DELHI: The Nitish Kumar-led Grand Alliance in Bihar, which was dumped recently by Mulayam Singh Yadav, has been served new worries, this time by Mohammad Taslimuddin, a prominent lawmaker from the Rashtriya Janata Dal headed by Lalu Yadav.Mr Taslimuddin - widely seen as his party's Muslim face across eight important Bihar districts that are together called Seemanchal - today launched a vigorous attack on Chief Minister Nitish Kumar, who will seek a third term in the Bihar assembly elections, the dates for which will be announced soon.
Mr Taslimuddin's party chief Lalu Yadav has committed to contesting the elections in alliance with Nitish Kumar, a one-time bitter rival, and the Congress to take on the BJP.
Last week, Samajwadi Party chief Mulayam Singh Yadav walked out of the alliance, miffed at being offered only five seats to contest. His party blamed the break-up on what it said was Nitish Kumar's disproportionate attention to the Congress and has said it plans to contest all 243 seats in the state.
"First Mulayam Singh was made the head of the grand alliance. Then he was offered just three seats. He wasn't called for the alliance rally and instead Sahib Biwi and Ghulam shared the stage," Mr Taslimuddin said, referring to a big rally in Patna attended by Mr Kumar, Mr Prasad and Congress chief Sonia Gandhi.
Seemanchal, with its 42 seats, is the only area in Bihar where the anti-BJP forces did well in the 2014 Lok Sabha elections. While the SP challenge is expected to play spoiler for the alliance, Mr Taslimuddin's rebellion could hurt it even more.
"The RJD-JD(U) alliance has already suffered a setback difficult to recover from. The SP was chased away, more people will leave," warned Mr Taslimuddin. He has refused to meet an emissary sent by Lalu Yadav to calm him down.
Sohrabuddin Case: Top Court Raps Rajkumar Pandian for Stay of Trial
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NEW DELHI: The Supreme Court today refused to modify a bail condition of suspended IPS officer Rajkumar Pandian, accused in the alleged fake encounter killings of Sohrabuddin Sheikh and his wife Kauserbi, and slammed him for the stay of the trial in the case.
"On one hand you want variation of the bail order for going to Gujarat, but on the other hand, the trial is stayed by the Bombay High Court on your applications," a bench of Justices Ranjan Gogoi and N V Ramana said.
Mr Pandian had moved the Supreme Court seeking relaxation in his bail condition barring him from leaving Mumbai during pendency of trial, to visit his ailing mother in Gujarat.
The bench took note of Mr Pandian's plea and said it can take up the plea for modification of bail conditions only after the High Court decides his pending applications.
It also asked the trial court to proceed with framing of charges in the case immediately after the pleas of Mr Pandian were decided by the High Court.
The High Court has also stayed the trial proceedings.
The court had last month allowed the accused officer to visit his ailing mother in Ahmedabad for seven days.
Mr Pandian, who was granted bail on March 28 last year, is facing charges in the case in which Sheikh and his wife were allegedly abducted by Gujarat's Anti-Terrorist Squad from Hyderabad and killed in an alleged fake encounter near Gandhinagar in November 2005.
The top court, while granting him bail, had directed Mr Pandian not to leave Mumbai where the trial was going on without permission of the concerned authority.
The IPS officer had moved the Supreme Court in December, 2013 after the Bombay High Court on November 20, 2012 rejected his bail plea.
NEW DELHI: The Supreme Court today refused to modify a bail condition of suspended IPS officer Rajkumar Pandian, accused in the alleged fake encounter killings of Sohrabuddin Sheikh and his wife Kauserbi, and slammed him for the stay of the trial in the case."On one hand you want variation of the bail order for going to Gujarat, but on the other hand, the trial is stayed by the Bombay High Court on your applications," a bench of Justices Ranjan Gogoi and N V Ramana said.
Mr Pandian had moved the Supreme Court seeking relaxation in his bail condition barring him from leaving Mumbai during pendency of trial, to visit his ailing mother in Gujarat.
It also asked the trial court to proceed with framing of charges in the case immediately after the pleas of Mr Pandian were decided by the High Court.
The High Court has also stayed the trial proceedings.
The court had last month allowed the accused officer to visit his ailing mother in Ahmedabad for seven days.
Mr Pandian, who was granted bail on March 28 last year, is facing charges in the case in which Sheikh and his wife were allegedly abducted by Gujarat's Anti-Terrorist Squad from Hyderabad and killed in an alleged fake encounter near Gandhinagar in November 2005.
The top court, while granting him bail, had directed Mr Pandian not to leave Mumbai where the trial was going on without permission of the concerned authority.
The IPS officer had moved the Supreme Court in December, 2013 after the Bombay High Court on November 20, 2012 rejected his bail plea.
Lufthansa Cancels 1,000 Flights on Wednesday as Pilots' Strike Bites
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FRANKFURT: German airline Lufthansa has announced it will cancel 1,000 short- and medium-term flights in and out of Germany on Wednesday on the second day of a two-day walkout by its pilots.
At the same time, the carrier said on Tuesday it had filed a court injunction in a bid to prevent the industrial action -- the 13th walkout in 18 months -- as the company struggles to end a long-running dispute over early retirement provisions.
"One thousand Lufthansa flights are cancelled, 140,000 passengers will be affected," Lufthansa said in a statement after the pilots' union, Vereinigung Cockpit (VC), announced that it was extending a strike that began early Tuesday into a second day on Wednesday.
Out of a total 1,520 Lufthansa flights that should have flown on Wednesday, only just over 500 would go ahead, the carrier said.
Only Lufthansa services would be hit, while flights by the group's other airlines, Germanwings, Swiss, Austrian Airlines and Brussels Airlines would operate normally.
The carrier said it apologised to passengers for any inconvenience caused and added they would be able to rebook their flights free of charge.
Passengers on domestic, inner-Germany flights would be able to swap their tickets for a ticket on the German national railway, Deutsche Bahn.
The first day of the walkout on Tuesday had affected only long-haul flights, and but there would also be knock-on effects again on Wednesday, meaning that 52 of the scheduled 176 long-haul flights would be grounded, Lufthansa said.
Lufthansa filed an injunction with the labour court in Frankfurt to prevent Wednesday's extension, arguing it was illegal.
At the same time, management upped the ante, announcing it would seek damages of 60 million euros ($67 million) from Cockpit for the loss of earnings a first strike had caused back in April 2014, when the wage agreement with pilots at the time was still in force.
'Constructive talks not possible'
In the past 18 months, pilots have staged repeated walkouts, but suspended industrial action in March in the wake of the horrific crash of a jet belonging to Lufthansa's low-cost subsidiary Germanwings in the French Alps.
Lufthansa complained that it was "currently not possible to hold constructive negotiations" with the union.
Union and management have been locked in a bitter dispute since April 2014 over management plans to change the pilots' early retirement arrangements.
The dispute hinges on plans by Lufthansa to scrap an arrangement under which pilots can retire at 55 and receive up to 60 percent of their pay until they reach the statutory retirement age of 65.
Pilots are also concerned about Lufthansa's aim to further develop its low-cost activities as it faces growing competition.
Cockpit said on Monday that it has made substantial concessions and accused management of seeking to "smash wage-agreement structures and demolish protective mechanisms in order to weaken the union."
Lufthansa has embarked on a massive reorganisation, farming out much of its domestic and medium-haul services to Germanwings.
FRANKFURT: German airline Lufthansa has announced it will cancel 1,000 short- and medium-term flights in and out of Germany on Wednesday on the second day of a two-day walkout by its pilots.At the same time, the carrier said on Tuesday it had filed a court injunction in a bid to prevent the industrial action -- the 13th walkout in 18 months -- as the company struggles to end a long-running dispute over early retirement provisions.
"One thousand Lufthansa flights are cancelled, 140,000 passengers will be affected," Lufthansa said in a statement after the pilots' union, Vereinigung Cockpit (VC), announced that it was extending a strike that began early Tuesday into a second day on Wednesday.
Only Lufthansa services would be hit, while flights by the group's other airlines, Germanwings, Swiss, Austrian Airlines and Brussels Airlines would operate normally.
The carrier said it apologised to passengers for any inconvenience caused and added they would be able to rebook their flights free of charge.
Passengers on domestic, inner-Germany flights would be able to swap their tickets for a ticket on the German national railway, Deutsche Bahn.
The first day of the walkout on Tuesday had affected only long-haul flights, and but there would also be knock-on effects again on Wednesday, meaning that 52 of the scheduled 176 long-haul flights would be grounded, Lufthansa said.
Lufthansa filed an injunction with the labour court in Frankfurt to prevent Wednesday's extension, arguing it was illegal.
At the same time, management upped the ante, announcing it would seek damages of 60 million euros ($67 million) from Cockpit for the loss of earnings a first strike had caused back in April 2014, when the wage agreement with pilots at the time was still in force.
'Constructive talks not possible'
In the past 18 months, pilots have staged repeated walkouts, but suspended industrial action in March in the wake of the horrific crash of a jet belonging to Lufthansa's low-cost subsidiary Germanwings in the French Alps.
Lufthansa complained that it was "currently not possible to hold constructive negotiations" with the union.
Union and management have been locked in a bitter dispute since April 2014 over management plans to change the pilots' early retirement arrangements.
The dispute hinges on plans by Lufthansa to scrap an arrangement under which pilots can retire at 55 and receive up to 60 percent of their pay until they reach the statutory retirement age of 65.
Pilots are also concerned about Lufthansa's aim to further develop its low-cost activities as it faces growing competition.
Cockpit said on Monday that it has made substantial concessions and accused management of seeking to "smash wage-agreement structures and demolish protective mechanisms in order to weaken the union."
Lufthansa has embarked on a massive reorganisation, farming out much of its domestic and medium-haul services to Germanwings.
Business Affairs
Growth amid China crisis seems a tough ask
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India's Chief Economic Advisor Arvind Subramanian was in the midst of delivering a lecture at the India International Centre, New Delhi, on August 31, when he received an update on the country's gross domestic product (GDP) growth rate for the April-June quarter on his mobile phone.
A brief interruption followed, as he scanned his mobile screen to see how India had faired on the GDP front. At 7 per cent, the GDP growth was better than the corresponding quarter of 2014/15, but slower than the 7.5 per cent it had clocked during the January-March, 2015, quarter. However, he decided to ignore the subject.
Resuming his talk, Subramanian continued to revisit and analyse the key postulates of the book 'Eclipse: Living in the shadow of China's economic dominance', he had written four years ago. The discussion that followed the lecture organised by the Institute of Chinese Studies, revolved around China - whether the country, which was perceived as an economic powerhouse a few years ago, had lost steam, and how far the slowdown in China would impact the current global economic turmoil, and what it means for India's economic growth.
Immediately after the event, Subramanian had ducked media queries on how the ruling political leadership would look at the GDP numbers. However, while addressing a press conference on September 2, Subramanian said the GDP numbers suggest that India is moving towards deflation rather than inflation. The indirect hint was quite evident - the money supply should increase and the RBI should act. A demand that has been consistently made by the industry.
'AT A STRATEGIC LEVEL, INDIA SHOULD BE STRENGTHENING MULTILATERALISM,' says Arvind Subramanian, Chief Economic Adviser, Ministry of Finance. (Photo: Shekhar Ghosh)
The broad picture emerging out of the GDP data, and other macroeconomic indicators, however, was clear. Export growth has been on a continuous decline for eight months in a row. As percentage of GDP, the share of exports has shrunk on a year-on-year basis during the April-June quarter. Factory production has slowed, as indicated by the fall in the Nikkei purchasing managers index (PMI) to 52.3 points in August from 52.7 in July.
In terms of gross value added during the first quarter of 2015/16, the manufacturing sector grew by 7.2 per cent as compared to 8.4 per cent in the corresponding quarter of last year. Official figures point out that private corporate sector growth, which has a share of around 65 per cent in the manufacturing sector, was slow, as estimated from available data of listed companies with the BSE and NSE. It was just 7.9 per cent at current prices during the first quarter of 2015/16, compared to 13.8 per cent in the first quarter of 2014/15.
In short, the numbers do not share the confidence shown either by Finance Minister Arun Jaitley or the country's chief economic advisor. They seem to be sure of India's economic resilience and its ability to hold out and grow in the midst of a China-triggered global economic slowdown. But what is the basis of Jaitley and Subramanian's confidence? Going by the responses Subramanian gave during his lecture, there could be several reasons.
One, as a net importer of commodities, the decline in commodity prices internationally, including that of crude oil can only benefit India. The fiscal leeway it provides to the government, if prudently utilised, can strengthen the country's economic fundamentals. For instance, if the money that would otherwise have gone for importing oil or coal can be channelised to develop renewable energy capacities, India would be less import-dependent when commodity prices begin to move up.
Two, India could be better placed because of its lack of development, rather than its capabilities. China is facing a problem of excess capacity in some areas. Similarly, there is a limit to which developed countries can rely on infrastructure development to trigger growth. On the contrary, sky is the limit for India when it comes to infrastructure growth, and developing manufacturing competitiveness and capabilities.
Three, India's limited presence in the international manufacturing supply chain could be an advantage. The country will not be affected as much as Taiwan if China cuts down its production as Indo-China trade is more about raw material export and finished goods import rather than component supplies. A global economic slowdown could help India develop indigenous capacity to first serve the domestic market, and then cater to the export market.
Four, India can also be seen as an alternative investment destination for countries that are facing an economic slowdown. Just imagine the push India's GDP would get if all the promised investments from China, Japan and the US are materialises.
Further, Jaitley derives his confidence from the government's expectations that its promised economic reforms are on track. It can boost investor confidence and turn India as one of the safest investment destinations. As often said, the Goods and Services Tax (GST) can boost the Indian economy.
However, none of these can happen overnight. "Even if you admit that the projected negative impact (for India) is exaggerated, the country cannot take a position that business-as-usual suits it fine," says Biswajit Dhar, Professor, Social Sciences, Centre for Economic Studies and Planning, Jawaharlal Nehru University. According to Dhar, all macroeconomic indicators suggest the vulnerability of India, rather than resilience. "India's manufacturing sector cannot take anymore shocks. This is the time to lay out a clear road map to develop manufacturing."
Incidentally, some of the isolated responses from India could be regarded as movements in this direction. At least, that is what the response of the India-US Business Council (USIBC) to the central government's decision to avoid levy of minimum alternate tax (MAT), retrospectively, suggests. Hailing Jaitley's announcement that MAT will be applicable only from April 1, 2015, USIBC said it "demonstrates Indias commitment to attracting long-term foreign investment into the country by providing greater tax certainty and ensuring ease of doing business for the global investment community".
If the MAT decision can be considered as a quick fix measure, more longstanding impact will be felt on India's decision to keep itself out of the move to expand the list of products covered under the Information Technology Agreement (ITA) of the World Trade Organization (WTO).
By doing so, India has retained its freedom to provide tariff protection (from cheap imports) to its domestic industry, which manufactures a host of new generation telecommunication products. Being a signatory to the original ITA since 1996, the Centre has no freedom to levy tariff on over 100 telecommunication products. This had resulted in the disappearance of those industries, and the reason why the government was cautious about ITA II.
There is a contrarian view on India's approach towards multilateral institutions, too. Experts, including Subramanian, say that the safest bet for India is to help build multilateral institutions. "At a strategic level, India should be strengthening multilateralism," observes Subramanian.
In fact, the country that gained most from the existence of WTO was China, because it was well prepared to defend its market and flood foreign markets with low-cost products. Therefore, the country's WTO membership enhanced its global access. Times have, however, changed, as we get to hear more protectionist voices from even the US. For India to replicate what China did would be difficult. But if it can, this could prove to be a turning point.
Until then, India will have a strong logic to remain resilient, but it may not have the wherewithal to do so.
India's Chief Economic Advisor Arvind Subramanian was in the midst of delivering a lecture at the India International Centre, New Delhi, on August 31, when he received an update on the country's gross domestic product (GDP) growth rate for the April-June quarter on his mobile phone.
A brief interruption followed, as he scanned his mobile screen to see how India had faired on the GDP front. At 7 per cent, the GDP growth was better than the corresponding quarter of 2014/15, but slower than the 7.5 per cent it had clocked during the January-March, 2015, quarter. However, he decided to ignore the subject.
Resuming his talk, Subramanian continued to revisit and analyse the key postulates of the book 'Eclipse: Living in the shadow of China's economic dominance', he had written four years ago. The discussion that followed the lecture organised by the Institute of Chinese Studies, revolved around China - whether the country, which was perceived as an economic powerhouse a few years ago, had lost steam, and how far the slowdown in China would impact the current global economic turmoil, and what it means for India's economic growth.
Immediately after the event, Subramanian had ducked media queries on how the ruling political leadership would look at the GDP numbers. However, while addressing a press conference on September 2, Subramanian said the GDP numbers suggest that India is moving towards deflation rather than inflation. The indirect hint was quite evident - the money supply should increase and the RBI should act. A demand that has been consistently made by the industry.
'AT A STRATEGIC LEVEL, INDIA SHOULD BE STRENGTHENING MULTILATERALISM,' says Arvind Subramanian, Chief Economic Adviser, Ministry of Finance. (Photo: Shekhar Ghosh)
In terms of gross value added during the first quarter of 2015/16, the manufacturing sector grew by 7.2 per cent as compared to 8.4 per cent in the corresponding quarter of last year. Official figures point out that private corporate sector growth, which has a share of around 65 per cent in the manufacturing sector, was slow, as estimated from available data of listed companies with the BSE and NSE. It was just 7.9 per cent at current prices during the first quarter of 2015/16, compared to 13.8 per cent in the first quarter of 2014/15.
In short, the numbers do not share the confidence shown either by Finance Minister Arun Jaitley or the country's chief economic advisor. They seem to be sure of India's economic resilience and its ability to hold out and grow in the midst of a China-triggered global economic slowdown. But what is the basis of Jaitley and Subramanian's confidence? Going by the responses Subramanian gave during his lecture, there could be several reasons.
One, as a net importer of commodities, the decline in commodity prices internationally, including that of crude oil can only benefit India. The fiscal leeway it provides to the government, if prudently utilised, can strengthen the country's economic fundamentals. For instance, if the money that would otherwise have gone for importing oil or coal can be channelised to develop renewable energy capacities, India would be less import-dependent when commodity prices begin to move up.
Four, India can also be seen as an alternative investment destination for countries that are facing an economic slowdown. Just imagine the push India's GDP would get if all the promised investments from China, Japan and the US are materialises.
Two, India could be better placed because of its lack of development, rather than its capabilities. China is facing a problem of excess capacity in some areas. Similarly, there is a limit to which developed countries can rely on infrastructure development to trigger growth. On the contrary, sky is the limit for India when it comes to infrastructure growth, and developing manufacturing competitiveness and capabilities.
Three, India's limited presence in the international manufacturing supply chain could be an advantage. The country will not be affected as much as Taiwan if China cuts down its production as Indo-China trade is more about raw material export and finished goods import rather than component supplies. A global economic slowdown could help India develop indigenous capacity to first serve the domestic market, and then cater to the export market.
Further, Jaitley derives his confidence from the government's expectations that its promised economic reforms are on track. It can boost investor confidence and turn India as one of the safest investment destinations. As often said, the Goods and Services Tax (GST) can boost the Indian economy.
However, none of these can happen overnight. "Even if you admit that the projected negative impact (for India) is exaggerated, the country cannot take a position that business-as-usual suits it fine," says Biswajit Dhar, Professor, Social Sciences, Centre for Economic Studies and Planning, Jawaharlal Nehru University. According to Dhar, all macroeconomic indicators suggest the vulnerability of India, rather than resilience. "India's manufacturing sector cannot take anymore shocks. This is the time to lay out a clear road map to develop manufacturing."
Incidentally, some of the isolated responses from India could be regarded as movements in this direction. At least, that is what the response of the India-US Business Council (USIBC) to the central government's decision to avoid levy of minimum alternate tax (MAT), retrospectively, suggests. Hailing Jaitley's announcement that MAT will be applicable only from April 1, 2015, USIBC said it "demonstrates Indias commitment to attracting long-term foreign investment into the country by providing greater tax certainty and ensuring ease of doing business for the global investment community".
By doing so, India has retained its freedom to provide tariff protection (from cheap imports) to its domestic industry, which manufactures a host of new generation telecommunication products. Being a signatory to the original ITA since 1996, the Centre has no freedom to levy tariff on over 100 telecommunication products. This had resulted in the disappearance of those industries, and the reason why the government was cautious about ITA II.
If the MAT decision can be considered as a quick fix measure, more longstanding impact will be felt on India's decision to keep itself out of the move to expand the list of products covered under the Information Technology Agreement (ITA) of the World Trade Organization (WTO).
There is a contrarian view on India's approach towards multilateral institutions, too. Experts, including Subramanian, say that the safest bet for India is to help build multilateral institutions. "At a strategic level, India should be strengthening multilateralism," observes Subramanian.
In fact, the country that gained most from the existence of WTO was China, because it was well prepared to defend its market and flood foreign markets with low-cost products. Therefore, the country's WTO membership enhanced its global access. Times have, however, changed, as we get to hear more protectionist voices from even the US. For India to replicate what China did would be difficult. But if it can, this could prove to be a turning point.
Until then, India will have a strong logic to remain resilient, but it may not have the wherewithal to do so.
Crompton Greaves stock rises over 7% on bargain hunting
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Shares of Crompton Greaves settled for the day with gains of over 7 per cent as bargain hunting emerged on the counter after the stock fell over 15 per cent in the previous seven trading sessions.
Bargain hunting means buying of stocks which are undervalued. The term is also used synonymously with value investing.
On BSE, the stock was quoted at Rs 166.40, up 7.18 per cent at the end of trading session. The stock opened on a weak note, touching a 52-week low of Rs 152.85. Later, it gathered momentum to touch a high of Rs 168.20 as value buying emerged on the counter.
On NSE, the stock was quoted at Rs 167.40, up 7.62 per cent at the end of Tuesday's session.
The stock opened at Rs 155 and touched an intra-day low of Rs 152.85. But soon recovered to a high of Rs 167.75.
Market analysts said the uptrend in the stock was largely due to bargain hunting as the stock had slumped more than 15 per cent in the previous seven trading sessions. The stock was quoted at Rs 180.70 on August 27.
Moreover, the broader market also ended with significant gains, which helped in investor confidence.
Meanwhile, the company has bagged a three-year contract from the French distribution network operator Electricite Reseau Distribution France (ERDF) to provide maintenance and repair services to 4,500 high power transformers.
The 30-share benchmark index Sensex on Tuesday rose 424.06 points to close at 25,317.87, while the Nifty climbed 129.45 points to 7,688.25.
Shares of Crompton Greaves settled for the day with gains of over 7 per cent as bargain hunting emerged on the counter after the stock fell over 15 per cent in the previous seven trading sessions.
Bargain hunting means buying of stocks which are undervalued. The term is also used synonymously with value investing.
On BSE, the stock was quoted at Rs 166.40, up 7.18 per cent at the end of trading session. The stock opened on a weak note, touching a 52-week low of Rs 152.85. Later, it gathered momentum to touch a high of Rs 168.20 as value buying emerged on the counter.
On NSE, the stock was quoted at Rs 167.40, up 7.62 per cent at the end of Tuesday's session.
The stock opened at Rs 155 and touched an intra-day low of Rs 152.85. But soon recovered to a high of Rs 167.75.
Market analysts said the uptrend in the stock was largely due to bargain hunting as the stock had slumped more than 15 per cent in the previous seven trading sessions. The stock was quoted at Rs 180.70 on August 27.
Moreover, the broader market also ended with significant gains, which helped in investor confidence.
Meanwhile, the company has bagged a three-year contract from the French distribution network operator Electricite Reseau Distribution France (ERDF) to provide maintenance and repair services to 4,500 high power transformers.
The 30-share benchmark index Sensex on Tuesday rose 424.06 points to close at 25,317.87, while the Nifty climbed 129.45 points to 7,688.25.
Black money: I-T dept to file court case if illegal foreign assets detected
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Taking a tough stance against black money, the CBDT has directed the Income Tax department to mandatorily launch court cases against people found to be holding stash funds and tainted assets abroad and consider "compounding" of such offences only at a later stage.
The apex policy-making body of the tax department has recently issued a directive in this regard to all I-T offices in the country after the latter raised "doubts" over the applicability of the provisions of the "Compounding of Offences" under the Income Tax Act, 1961 in these cases."Such cases (where a person has been found to be holding illegal assets abroad) can be compounded only after filing the prosecution complaint and shall not be compounded at the stage of show cause notice and/or without filing the complaint in the court," the new directives, accessed by PTI, said.
The Central Board of Direct Taxes, sources said, also obtained the opinion of the Special Investigation Team (SIT) on black money on the subject and after obtaining its approval it subsequently gave a directive to the I-T department that launching of court cases in such offences is a must.
The Compounding of Offences is undertaken under section 279(2) of the I-T Act by a panel of senior I-T officers in an assessment range keeping in view factors such as conduct of the person, nature and magnitude of the offence and facts and circumstances of each case.
In case a court case has been filed, the department duly obtains the permission of the court to initiate these provisions which aim to help a cooperating offender of tax evasion.
"It has been made clear that the compounding of offences, which means settling the case with a consenting party without going into tedious litigation process but under the ambit of the I-T law, will be only used in chosen and deserving cases of black money but a court case will have to be filed in the first instance," a senior I-T official said on Tuesday.
The Board also made it clear that in case of non-cooperating assesses, compounding will not be done.
"The cases in which the assessee has not admitted the foreign bank account(s) or assets and/or has not cooperated with the department in the assessment, penalty and recovery proceedings shall not be compounded," the directives said.
The cases, it said, in which the assessee "has admitted accounts/assets either fully (all accounts with which he is associated) or partially (only a few accounts out of all accounts with which he is associated), paid taxes and penalty and cooperated with the department may be considered for compounding as per the (existing) guidelines, only after filing the complaints."
Officials said the latest directives are in spirit of the decision that was announced by the CBDT to its top brass during their annual national conference early this year here where it was made clear that cases of black money where Indians hold tainted assets, especially in foreign shores, should not be just decided by way of levying penalty but should be taken to the courts by way of filing complaints under anti-tax evasion laws.
The Board also made it clear that these directives will not be applicable under the new Black Money law that was enacted by the government this year.
Taking a tough stance against black money, the CBDT has directed the Income Tax department to mandatorily launch court cases against people found to be holding stash funds and tainted assets abroad and consider "compounding" of such offences only at a later stage.
The apex policy-making body of the tax department has recently issued a directive in this regard to all I-T offices in the country after the latter raised "doubts" over the applicability of the provisions of the "Compounding of Offences" under the Income Tax Act, 1961 in these cases."Such cases (where a person has been found to be holding illegal assets abroad) can be compounded only after filing the prosecution complaint and shall not be compounded at the stage of show cause notice and/or without filing the complaint in the court," the new directives, accessed by PTI, said.
The Central Board of Direct Taxes, sources said, also obtained the opinion of the Special Investigation Team (SIT) on black money on the subject and after obtaining its approval it subsequently gave a directive to the I-T department that launching of court cases in such offences is a must.
The Compounding of Offences is undertaken under section 279(2) of the I-T Act by a panel of senior I-T officers in an assessment range keeping in view factors such as conduct of the person, nature and magnitude of the offence and facts and circumstances of each case.
In case a court case has been filed, the department duly obtains the permission of the court to initiate these provisions which aim to help a cooperating offender of tax evasion.
"It has been made clear that the compounding of offences, which means settling the case with a consenting party without going into tedious litigation process but under the ambit of the I-T law, will be only used in chosen and deserving cases of black money but a court case will have to be filed in the first instance," a senior I-T official said on Tuesday.
The Board also made it clear that in case of non-cooperating assesses, compounding will not be done.
"The cases in which the assessee has not admitted the foreign bank account(s) or assets and/or has not cooperated with the department in the assessment, penalty and recovery proceedings shall not be compounded," the directives said.
The cases, it said, in which the assessee "has admitted accounts/assets either fully (all accounts with which he is associated) or partially (only a few accounts out of all accounts with which he is associated), paid taxes and penalty and cooperated with the department may be considered for compounding as per the (existing) guidelines, only after filing the complaints."
Officials said the latest directives are in spirit of the decision that was announced by the CBDT to its top brass during their annual national conference early this year here where it was made clear that cases of black money where Indians hold tainted assets, especially in foreign shores, should not be just decided by way of levying penalty but should be taken to the courts by way of filing complaints under anti-tax evasion laws.
The Board also made it clear that these directives will not be applicable under the new Black Money law that was enacted by the government this year.
EPFO may allow pledging PF contributions to buy low-cost houses
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EPFO's trustees will consider a proposal to allow its subscribers to pledge their future PF contribution to buy low cost houses, in a meeting scheduled on September 16.
The Employees' Provident Fund Organisation's (EPFO) apex decision making body, the Central Board of Trustees (CBT) will consider the report of the expert committee on housing facility for the subscribers, as per the agenda of the meeting.
Gross domestic product stood at 63.6 trillion yuan ($10.00 trillion) last year, down by 32.4 billion yuan from the initial estimate, the bureau said in a statement on its website.
The committee has unanimously recommended a scheme to facilitate subscribers to buy houses where they will get an advance from their PF accumulation and will be allowed to pledge their future PF contribution as EMI (Equated Monthly Instalment) payment.
Under the proposed scheme, there will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.
The panel suggested that under the scheme, the subscribers will purchase a dwelling unit with loans from bank or housing finance companies and hypothecation of property in favour of the latter.
It is suggested that the benefits under the schemes of Ministry of Housing and Urban Poverty Alleviation can also be extended to the beneficiaries of the scheme.
However, the panel has suggested this scheme for low income formal workers who are EPFO subscribers and could not buy a house during their entire service period.
Besides, the CBT headed by the Labour Minister will also take up the proposal to increase the maximum sum assured under its insurance scheme EDLI to Rs 5.5 lakh from existing Rs 3.6 lakh.
The proposal will be vetted by a sub-committee tomorrow for making final recommendations to the CBT.
The trustees will also consider a proposal to provide incentives to EPFO pensioners for digitally filing their live certificates.
At present, these certificates are manually filed by pensioners at the banks. EPFO pays service charges to banks for collecting these live certificates of pensioners.
Under the proposed Jeevan Pramaan Patra scheme, the pensioners' live certificate will be collected through e-mode.
It is proposed to provide one time incentive of Rs 100 to pensioners registering under the scheme and Rs 30 for subsequent years. EPFO has about 51 lakh pensioners.
It is also proposed to provide incentives to employers to encourage seeding universal account number with know your customer (KYC) details like bank account number, PAN and Aadhaar.
The employers will be refunded a part of administrative charges under this proposed scheme.
EPFO will also place performance review of its fund managers for 2014-15 before CBT, which placed SBI at the top with a score of 99.64 out of 100 followed by Reliance Capital (99.49), ICICI Securities PD Ltd (99.42) and HSBC AML (99).
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EPFO's trustees will consider a proposal to allow its subscribers to pledge their future PF contribution to buy low cost houses, in a meeting scheduled on September 16.
The Employees' Provident Fund Organisation's (EPFO) apex decision making body, the Central Board of Trustees (CBT) will consider the report of the expert committee on housing facility for the subscribers, as per the agenda of the meeting.
Gross domestic product stood at 63.6 trillion yuan ($10.00 trillion) last year, down by 32.4 billion yuan from the initial estimate, the bureau said in a statement on its website.
The committee has unanimously recommended a scheme to facilitate subscribers to buy houses where they will get an advance from their PF accumulation and will be allowed to pledge their future PF contribution as EMI (Equated Monthly Instalment) payment.
Under the proposed scheme, there will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.
The panel suggested that under the scheme, the subscribers will purchase a dwelling unit with loans from bank or housing finance companies and hypothecation of property in favour of the latter.
It is suggested that the benefits under the schemes of Ministry of Housing and Urban Poverty Alleviation can also be extended to the beneficiaries of the scheme.
However, the panel has suggested this scheme for low income formal workers who are EPFO subscribers and could not buy a house during their entire service period.
Besides, the CBT headed by the Labour Minister will also take up the proposal to increase the maximum sum assured under its insurance scheme EDLI to Rs 5.5 lakh from existing Rs 3.6 lakh.
The proposal will be vetted by a sub-committee tomorrow for making final recommendations to the CBT.
The trustees will also consider a proposal to provide incentives to EPFO pensioners for digitally filing their live certificates.
At present, these certificates are manually filed by pensioners at the banks. EPFO pays service charges to banks for collecting these live certificates of pensioners.
Under the proposed Jeevan Pramaan Patra scheme, the pensioners' live certificate will be collected through e-mode.
It is proposed to provide one time incentive of Rs 100 to pensioners registering under the scheme and Rs 30 for subsequent years. EPFO has about 51 lakh pensioners.
It is also proposed to provide incentives to employers to encourage seeding universal account number with know your customer (KYC) details like bank account number, PAN and Aadhaar.
The employers will be refunded a part of administrative charges under this proposed scheme.
EPFO will also place performance review of its fund managers for 2014-15 before CBT, which placed SBI at the top with a score of 99.64 out of 100 followed by Reliance Capital (99.49), ICICI Securities PD Ltd (99.42) and HSBC AML (99).
Indian economy sees 'firming growth', says OECD
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Besides, most of the major European economies are anticipated to see stable growth momentum, according to the Organisation for Economic Cooperation and Development (OECD).
The readings are based on Composite Leading Indicators (CLIs) that are designed to anticipate turning points in economic activity relative to trend.
"In India , the CLI points to firming growth... on the other hand, the outlook continues to deteriorate for China, with the CLI pointing more strongly to a loss of growth momentum," OECD said in a statement.
India's CLI stood at 99.8 in July, slightly higher than 99.7 seen in June.
OECD, which is also a grouping of mostly developed nations, noted that signs of slowing growth momentum have re-emerged in Russia while Brazil is expected to witness weak growth momentum.
India's economic growth slowed to 7 per cent in the three months ended June compared to 7.5 per cent expansion recorded in the January-March quarter.
Notwithstanding market volatility, on Sunday, Finance Minister Arun Jaitley had said India's "real economy" will dictate both the currency valuation and the market.
International Monetary Fund (IMF) Managing Director Christine Lagarde recently said that India is among the few bright spots in the global economy.
Meanwhile, OECD said growth momentum is expected to be stable in the euro area.
"Growth momentum is anticipated to moderate in Canada as well as in the UK and the US, albeit from relatively high levels," the statement said.
Besides, most of the major European economies are anticipated to see stable growth momentum, according to the Organisation for Economic Cooperation and Development (OECD).
The readings are based on Composite Leading Indicators (CLIs) that are designed to anticipate turning points in economic activity relative to trend.
"In India , the CLI points to firming growth... on the other hand, the outlook continues to deteriorate for China, with the CLI pointing more strongly to a loss of growth momentum," OECD said in a statement.
India's CLI stood at 99.8 in July, slightly higher than 99.7 seen in June.
OECD, which is also a grouping of mostly developed nations, noted that signs of slowing growth momentum have re-emerged in Russia while Brazil is expected to witness weak growth momentum.
India's economic growth slowed to 7 per cent in the three months ended June compared to 7.5 per cent expansion recorded in the January-March quarter.
Notwithstanding market volatility, on Sunday, Finance Minister Arun Jaitley had said India's "real economy" will dictate both the currency valuation and the market.
International Monetary Fund (IMF) Managing Director Christine Lagarde recently said that India is among the few bright spots in the global economy.
Meanwhile, OECD said growth momentum is expected to be stable in the euro area.
"Growth momentum is anticipated to moderate in Canada as well as in the UK and the US, albeit from relatively high levels," the statement said.
General Awareness
MARKETING AWARENESS PRACTICE QUESTIONS
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1. The fact that services are sold, produced and consumed at the same time refers to which of the
following service characteristics?
a) Intangibility
b) Inseparability
c) Variability
d) Perishability
e) None of the above
2. Electronic shopping, TV shopping is related with:
a) Advertising
b) Personal Selling
c) Direct Marketing
d) In direct Marketing
e) Personal buying
3. The purpose of which of the following type of advertising is to create repeat purchases?
a) Reminder
b) Reinforcement
c) Persuasive
d) Informative
e) None of the above
4. ______ is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
a) Mass marketing
b) Market segmentation
c) Market targeting
d) Market positioning
e) None of the above
5. The technique of focus on advertising of non-competitive brand with the other brand is called:
a) Cross-promotions
b) Tie-in promotions
c) Premiums
d) All the above
e) None of the above
6. Labelling, packaging are associated with:
a) Price mix
b) Product mix
c) Place mix
d) Promotion mix
e) Cost mix
7. Entry of laggards is in which stage of PLC (Product Life Cycle)?
a) First
b) Second
c) Third
d) Fourth
e) Fifth
8. ______ factors are the most popular bases for segmenting customer groups.
a) Geographic
b) Demographic
c) Psychographic
d) Behavioural
e) None of the above
9. A method in which various products are combined at the same price is:
a) Promotional pricing
b) Product-bundle pricing
c) Captive product pricing
d) Optional product pricing
e) All the above
10. Differentiation in pricing for various geographical customers:
a) Price skimming
b) Psychological pricing
c) Pricing variations
d) Geographical pricing
e) None of the above
11. According to the American Marketing Association, which of the following is marketing of products that are presumed to be environmentally safe?
a) Gray Marketing
b) Green Marketing
c) Global Marketing
d) Social Marketing
e) Internet Marketing
12. One of the following is not included in the 7 Ps of Marketing. Find the same ______.
a) Placement
b) Price
c) Production
d) Promotion
e) Product
13. Innovation in marketing is same as ______
a) Motivation
b) Perspiration
c) Aspiration
d) Creativity
e) Team work
14. A call marketing terms means?
a) A newly introduced product
b) Territory allocation for salesperson
c) A Call Centers
d) A Sales meeting
e) To visit a prospect
15. Bank ATMs are______
a) Delivery outlets
b) Market plans
c) Personalized Products
d) Tools for overcoming buyers resistance
e) Motivating tools
16. The USP of current account is ______
a) High minimum balance
b) No restrictions on transactions
c) No internet payable
d) Restricted deposits
e) Easy credits
17. The target group for SME Loan is ______
a) All salaried persons
b) Govt. undertakings
c) All entrepreneurs
d) All students
e)All housewives
18. ______ is a principle of enlightened marketing that requires a company seek real product and
marketing improvements.
a) Innovative marketing
b) Consumer-oriented marketing
c) Value marketing
d) Sense-of-mission marketing
e) None of the above
19. NAV is the price of______
a) Entire fund value
b) One unit of a fund
c) Surrender value
d) Average value of shares
e) Dividends paid in a year
20. A Master policy in the case of Life insurance indicates ______
a) Policy is sale
b) Policy is in the name of servant
c) Only one life is assured
d) There are several beneficiaries
e) Life assured should be a male
21. The biggest or greatest amount of involvement in a foreign market comes through which of the following?
a) Exporting
b) Joint venturing
c) Licensing
d) Direct investment
e) None of the above
22. Financial inclusion needs canvassing the accounts of ______
a) Financial Institutions
b) NRIs
c) HNIs
d) Housewives
e) Persons below a specified income level
23. Facilities for sale and purchase of agricultural products are available in ______
a) Commodity exchange
b) Regulated market
c) Stock exchange
d) Unregulated market
e) None of the above
24. The company that overlooks new and better ways to do things will eventually lose customers to
another company that has found a better way of serving customer needs is a major tenet of:
a) Innovative marketing
b) Consumer-oriented marketing
c) Value marketing
d) Sense-of-mission marketing
e) None of the above
25. All of the following would be ways to segment within the category of psychographic segmentation EXCEPT:
a) Social class
b) Occupation
c) Lifestyle
d) Personality
e) Creativity
26. In terms of execution styles, a family seated at the dinner table enjoying the advertised product would be an example of which of the following types of advertising?
a) Slice of life
b) Lifestyle
c) Mood or imagery
d) Personality symbol
e) Personality
27. A child in the United States is normally exposed to all of the following values EXCEPT:
a) Achievement and success
b) Activity and involvement
c) Material comfort
d) Collectivism
e) None of the above
28. ______ has contractual authority to sell a manufacturer's entire output.
a) Selling agents
b) Rack jobbers
c) Manufacturer's agents
d) Purchasing agents
e) None of these
29. Sellers that handle their own exports are engaged in:
a) Direct exporting
b) Indirect exporting
c) Licensing
d) Contract manufacturing
e) None of the above
30. More and more salespeople are being evaluated and compensated based on different measures than in the past. All of the following are illustrations of those measures EXCEPT:
a) Long-term customer satisfaction
b) Competitive predatory pricing performance
c) Full customer service
d) Retention rates
e) None of the above
31. ______ includes practices such as overstating the product's features or performance, luring the
customer to the store for a bargain that is out of stock, or running rigged contests.
a) Deceptive promotion
b) Deceptive packaging
c) Deceptive pricing
d) Deceptive cost structure
e) None of the above
32. The type of sales presentation approach that requires good listening and problem-solving skills is the:
a) Canned approach
b) Formula approach
c) Need-satisfaction approach
d) Critical-thinking approach
e) None of the above
33. In terms of special product life cycles, a ______ is a basic and distinctive mode of expression.
a) genre
b) style
c) fashion
d) fad
e) None
ANSWERS:
1) b 2) c 3) a 4) c 5) a 6) b 7) d 8) b 9) b 10) d
11) b 12) c 13) d 14) e 15) c 16) b 17) c 18) a 19) b 20) d
21) d 22) e 23) d 24) a 25) b 26) a 27) d 28) a 29) a 30) a 31) b 32) a 33) b
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- 1. The fact that services are sold, produced and consumed at the same time refers to which of the
following service characteristics?
a) Intangibility
b) Inseparability
c) Variability
d) Perishability
e) None of the above
2. Electronic shopping, TV shopping is related with:
a) Advertising
b) Personal Selling
c) Direct Marketing
d) In direct Marketing
e) Personal buying
3. The purpose of which of the following type of advertising is to create repeat purchases?
a) Reminder
b) Reinforcement
c) Persuasive
d) Informative
e) None of the above
4. ______ is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
a) Mass marketing
b) Market segmentation
c) Market targeting
d) Market positioning
e) None of the above
5. The technique of focus on advertising of non-competitive brand with the other brand is called:
a) Cross-promotions
b) Tie-in promotions
c) Premiums
d) All the above
e) None of the above
6. Labelling, packaging are associated with:
a) Price mix
b) Product mix
c) Place mix
d) Promotion mix
e) Cost mix
7. Entry of laggards is in which stage of PLC (Product Life Cycle)?
a) First
b) Second
c) Third
d) Fourth
e) Fifth
8. ______ factors are the most popular bases for segmenting customer groups.
a) Geographic
b) Demographic
c) Psychographic
d) Behavioural
e) None of the above
9. A method in which various products are combined at the same price is:
a) Promotional pricing
b) Product-bundle pricing
c) Captive product pricing
d) Optional product pricing
e) All the above
10. Differentiation in pricing for various geographical customers:
a) Price skimming
b) Psychological pricing
c) Pricing variations
d) Geographical pricing
e) None of the above
11. According to the American Marketing Association, which of the following is marketing of products that are presumed to be environmentally safe?
a) Gray Marketing
b) Green Marketing
c) Global Marketing
d) Social Marketing
e) Internet Marketing
12. One of the following is not included in the 7 Ps of Marketing. Find the same ______.
a) Placement
b) Price
c) Production
d) Promotion
e) Product
13. Innovation in marketing is same as ______
a) Motivation
b) Perspiration
c) Aspiration
d) Creativity
e) Team work
14. A call marketing terms means?
a) A newly introduced product
b) Territory allocation for salesperson
c) A Call Centers
d) A Sales meeting
e) To visit a prospect
15. Bank ATMs are______
a) Delivery outlets
b) Market plans
c) Personalized Products
d) Tools for overcoming buyers resistance
e) Motivating tools
16. The USP of current account is ______
a) High minimum balance
b) No restrictions on transactions
c) No internet payable
d) Restricted deposits
e) Easy credits
17. The target group for SME Loan is ______
a) All salaried persons
b) Govt. undertakings
c) All entrepreneurs
d) All students
e)All housewives
18. ______ is a principle of enlightened marketing that requires a company seek real product and
marketing improvements.
a) Innovative marketing
b) Consumer-oriented marketing
c) Value marketing
d) Sense-of-mission marketing
e) None of the above
19. NAV is the price of______
a) Entire fund value
b) One unit of a fund
c) Surrender value
d) Average value of shares
e) Dividends paid in a year
20. A Master policy in the case of Life insurance indicates ______
a) Policy is sale
b) Policy is in the name of servant
c) Only one life is assured
d) There are several beneficiaries
e) Life assured should be a male
21. The biggest or greatest amount of involvement in a foreign market comes through which of the following?
a) Exporting
b) Joint venturing
c) Licensing
d) Direct investment
e) None of the above
22. Financial inclusion needs canvassing the accounts of ______
a) Financial Institutions
b) NRIs
c) HNIs
d) Housewives
e) Persons below a specified income level
23. Facilities for sale and purchase of agricultural products are available in ______
a) Commodity exchange
b) Regulated market
c) Stock exchange
d) Unregulated market
e) None of the above
24. The company that overlooks new and better ways to do things will eventually lose customers to
another company that has found a better way of serving customer needs is a major tenet of:
a) Innovative marketing
b) Consumer-oriented marketing
c) Value marketing
d) Sense-of-mission marketing
e) None of the above
25. All of the following would be ways to segment within the category of psychographic segmentation EXCEPT:
a) Social class
b) Occupation
c) Lifestyle
d) Personality
e) Creativity
26. In terms of execution styles, a family seated at the dinner table enjoying the advertised product would be an example of which of the following types of advertising?
a) Slice of life
b) Lifestyle
c) Mood or imagery
d) Personality symbol
e) Personality
27. A child in the United States is normally exposed to all of the following values EXCEPT:
a) Achievement and success
b) Activity and involvement
c) Material comfort
d) Collectivism
e) None of the above
28. ______ has contractual authority to sell a manufacturer's entire output.
a) Selling agents
b) Rack jobbers
c) Manufacturer's agents
d) Purchasing agents
e) None of these
29. Sellers that handle their own exports are engaged in:
a) Direct exporting
b) Indirect exporting
c) Licensing
d) Contract manufacturing
e) None of the above
30. More and more salespeople are being evaluated and compensated based on different measures than in the past. All of the following are illustrations of those measures EXCEPT:
a) Long-term customer satisfaction
b) Competitive predatory pricing performance
c) Full customer service
d) Retention rates
e) None of the above
31. ______ includes practices such as overstating the product's features or performance, luring the
customer to the store for a bargain that is out of stock, or running rigged contests.
a) Deceptive promotion
b) Deceptive packaging
c) Deceptive pricing
d) Deceptive cost structure
e) None of the above
32. The type of sales presentation approach that requires good listening and problem-solving skills is the:
a) Canned approach
b) Formula approach
c) Need-satisfaction approach
d) Critical-thinking approach
e) None of the above
33. In terms of special product life cycles, a ______ is a basic and distinctive mode of expression.
a) genre
b) style
c) fashion
d) fad
e) None
ANSWERS:
1) b 2) c 3) a 4) c 5) a 6) b 7) d 8) b 9) b 10) d
11) b 12) c 13) d 14) e 15) c 16) b 17) c 18) a 19) b 20) d
21) d 22) e 23) d 24) a 25) b 26) a 27) d 28) a 29) a 30) a 31) b 32) a 33) b
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