General Affairs
PM Should Break His Silence On Pathankot Attack: Congress Leader AK Antony
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THIRUVANANTHAPURAM: Former defence minister AK Antony today said Prime Minister Narendra Modi should break his silence on the terror attack at the Indian Air Force base in Pathankot in Punjab.
"There was a serious lapse and there were enough hints... but no action has been taken. Hence, Modi should tell the country as to what happened," Mr Antony said at a public meeting in Thiruvananthapuram.
It was the first public appearance of the senior Congress leader after his visit to the US for a medical check-up.
"The attack occurred after Modi visited Pakistan. The country wants to know how this attack occurred. It is a serious matter. The prime minister cannot remain silent anymore and has to speak up and tell the country what happened," Mr Antony added.
Seven security personnel were killed in the attack early Saturday morning on the Pathankot Air Force Station by six terrorists who crossed over from Pakistan. All the six terrorists were killed by security forces later.
THIRUVANANTHAPURAM: Former defence minister AK Antony today said Prime Minister Narendra Modi should break his silence on the terror attack at the Indian Air Force base in Pathankot in Punjab."There was a serious lapse and there were enough hints... but no action has been taken. Hence, Modi should tell the country as to what happened," Mr Antony said at a public meeting in Thiruvananthapuram.
It was the first public appearance of the senior Congress leader after his visit to the US for a medical check-up.
"The attack occurred after Modi visited Pakistan. The country wants to know how this attack occurred. It is a serious matter. The prime minister cannot remain silent anymore and has to speak up and tell the country what happened," Mr Antony added.
Seven security personnel were killed in the attack early Saturday morning on the Pathankot Air Force Station by six terrorists who crossed over from Pakistan. All the six terrorists were killed by security forces later.
INS Kadmatt Commissioned; Admiral RK Dhowan Stresses On Indigenisation
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VISAKHAPATNAM: Chief of Naval Staff Admiral RK Dhowan today said the Indian Navy will in future build all types of ships including those designed for warfare indigenously in line with Prime Minister Narendra Modi's "Make in India" initiative.
The Admiral was addressing a gathering in Visakhapatnam after the commissioning of the second indigenous stealth Anti-Submarine Warfare (ASW) corvette INS Kadmatt, built by M/s Garden Reach Shipbuilders and Engineers Ltd (GRSE) at Naval Dockyard in Visakhapatnam.
"Commissioning of Kadmatt is another milestone in self -reliance of Indian Navy," he said adding "now Indian Navy is builders navy not buyers Navy."
The Indian Navy has planned, in another 15 years, to strengthen science and technology and build warships indigenously in association with the Defence Research Development Organisation (DRDO) and public sector shipyards and private companies, he said.
Speaking to mediamen, he said 'Kadmatt' will take part in international fleet review scheduled in Visakhapatnam from February 4-8.
"Commissioning of Kadmatt will add a new dimension to the ASW capability of Indian Navy and in particular, the Eastern Fleet. The multifarious missions that can be undertaken by the ship truly reflect the enhanced multi-dimensional capability of the Indian Navy," Admiral Dhowan said.
He said the unique feature of the ship is the high-level indigenisation incorporated in the production.
About 90 per cent of the ship is indigenous. The ship has been indigenously designed by Indian Navy's in-house organisation, Directorate of Naval Design and constructed by Garden Reach Shipbuilders and Engineers Limited, Kolkata. DND is Navy's Design Organisation undertaking indigenous design of all surface combatants, he added.
'Kadmatt' is the latest indigenous ship after Shivalik class, Kolkata class and INS Kamorta wherein a plethora of weapons and sensors have been integrated to provide a 'Common Operational Picture (COP)'.
The ship has many state-of-the-art equipment which include the rail-less helo traversing system and foldable hangar door for integral ASW helicopter which not only increases the strike capability of the ship but also enhances the detection capability manifold.
Admiral Dhowan said the ship's weapons and sensors suite is predominantly indigenous and showcases the nation's growing capability in this niche area.
VISAKHAPATNAM: Chief of Naval Staff Admiral RK Dhowan today said the Indian Navy will in future build all types of ships including those designed for warfare indigenously in line with Prime Minister Narendra Modi's "Make in India" initiative.The Admiral was addressing a gathering in Visakhapatnam after the commissioning of the second indigenous stealth Anti-Submarine Warfare (ASW) corvette INS Kadmatt, built by M/s Garden Reach Shipbuilders and Engineers Ltd (GRSE) at Naval Dockyard in Visakhapatnam.
"Commissioning of Kadmatt is another milestone in self -reliance of Indian Navy," he said adding "now Indian Navy is builders navy not buyers Navy."
Speaking to mediamen, he said 'Kadmatt' will take part in international fleet review scheduled in Visakhapatnam from February 4-8.
"Commissioning of Kadmatt will add a new dimension to the ASW capability of Indian Navy and in particular, the Eastern Fleet. The multifarious missions that can be undertaken by the ship truly reflect the enhanced multi-dimensional capability of the Indian Navy," Admiral Dhowan said.
He said the unique feature of the ship is the high-level indigenisation incorporated in the production.
About 90 per cent of the ship is indigenous. The ship has been indigenously designed by Indian Navy's in-house organisation, Directorate of Naval Design and constructed by Garden Reach Shipbuilders and Engineers Limited, Kolkata. DND is Navy's Design Organisation undertaking indigenous design of all surface combatants, he added.
'Kadmatt' is the latest indigenous ship after Shivalik class, Kolkata class and INS Kamorta wherein a plethora of weapons and sensors have been integrated to provide a 'Common Operational Picture (COP)'.
The ship has many state-of-the-art equipment which include the rail-less helo traversing system and foldable hangar door for integral ASW helicopter which not only increases the strike capability of the ship but also enhances the detection capability manifold.
Admiral Dhowan said the ship's weapons and sensors suite is predominantly indigenous and showcases the nation's growing capability in this niche area.
President Pranab Mukherjee To Pay 2-Day Visit To Jharkhand From January 9
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NEW DELHI: President Pranab Mukherjee will be on a two-day visit to Jharkhand from January nine during which he will address a university convocation and inaugurate the annual conference of Bengali literary personages, the first of which was presided over by Nobel laureate Rabindranath Tagore.
Mr Mukherjee will also inaugurate an art gallery, lay the foundation stone of a technical university and address the Diamond Jubilee Celebrations of Birla Institute of Technology at BIT-Mesra.
On January nine, the President will attend the seventh convocation of Vinoba Bhave University at Hazaribagh, besides inaugurating Art Gallery at Audrey House at Ranchi, an official said. He will also lay the foundation stone of Jharkhand Technical University through video conferencing the same day.
Mr Mukherjee will inaugurate the 88th Annual Conference of Nikhil Bharat Banga Sahitya Sammelan at Khelgaon, Hotwar and Diamond Jubilee Celebrations of Birla Institute of Technology on January 10 before returning to Delhi.
The sammelan is an annual convention of Bengali literary personages of India. The first conference (then called Prabasi Banga-Sahitya Sammelan) was held in Benares in 1922 and was presided over by Tagore.
The first sponsors were distinguished 'Bengalis living outside Bengal' ('Prabasis') like Atul Prasad Sen, Radhakamal Mukherjee, Kedar Nath Bandyopadhyay and Mahendra Chandra Roy.
Since 1922 till 1980, the conference had travelled across India to cities like Delhi, Kolkata, Mumbai, Chennai, Srinagar, Lucknow, Hyderabad and Guwahati.
NEW DELHI: President Pranab Mukherjee will be on a two-day visit to Jharkhand from January nine during which he will address a university convocation and inaugurate the annual conference of Bengali literary personages, the first of which was presided over by Nobel laureate Rabindranath Tagore.Mr Mukherjee will also inaugurate an art gallery, lay the foundation stone of a technical university and address the Diamond Jubilee Celebrations of Birla Institute of Technology at BIT-Mesra.
On January nine, the President will attend the seventh convocation of Vinoba Bhave University at Hazaribagh, besides inaugurating Art Gallery at Audrey House at Ranchi, an official said. He will also lay the foundation stone of Jharkhand Technical University through video conferencing the same day.
The sammelan is an annual convention of Bengali literary personages of India. The first conference (then called Prabasi Banga-Sahitya Sammelan) was held in Benares in 1922 and was presided over by Tagore.
The first sponsors were distinguished 'Bengalis living outside Bengal' ('Prabasis') like Atul Prasad Sen, Radhakamal Mukherjee, Kedar Nath Bandyopadhyay and Mahendra Chandra Roy.
Since 1922 till 1980, the conference had travelled across India to cities like Delhi, Kolkata, Mumbai, Chennai, Srinagar, Lucknow, Hyderabad and Guwahati.
India Incredible With Or Without Me, Says Aamir Khan
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NEW DELHI: A day after the government confirmed that he is no longer a part of its vast Incredible India campaign, actor Aamir Khan said, "It is the prerogative of the government to decide whether they need a brand ambassador for any campaign, and if so, who that ambassador should be. I respect the decision of the government to discontinue with my services."
Mr Khan, 50, triggered a controversy in November over stating his concern that religious intolerance was growing in India.
Last evening, Tourism and Culture minister Mahesh Sharma in an attempt to counter reports that the actor was being punished for those remarks, said that the superstar would not feature in the massive campaign to market India with foreign and other tourists because the government's contract (reportedly worth nearly Rs. 3 crores) with advertising agency McCann Erickson had expired, and it was the agency which had arranged for Mr Khan's participation.
"I would like to clarify that all public service films I have done till date have all been free of any cost to me," Mr Khan said in a statement today, stressing that he has been part of the Incredible India campaign for 10 years. "Whether I am brand ambassador or not, India will remain Incredible, and that's the way it should be," he said.
In November, Mr Khan expressed his concern about intolerance being displayed towards minorities. He was attacked on social media by many as "anti-national" for his remarks. He had said that his wife, Kiran Rao, said she was so concerned about the atmosphere of intolerance that she had wondered out loud about relocating from India.
Political and other opponents have accused the BJP and its supporters of whipping up religious tensions in different parts of the country, an allegation firmly rebutted by Prime Minister Narendra Modi and his ministers who say parties like the Congress are trying to discredit the central government.
In September, a man in Dadri in Uttar Pradesh was lynched to death after being falsely accused of having beef in his home; rationalist MM Kalburgi was shot dead in Karnataka a few weeks before that.
NEW DELHI: A day after the government confirmed that he is no longer a part of its vast Incredible India campaign, actor Aamir Khan said, "It is the prerogative of the government to decide whether they need a brand ambassador for any campaign, and if so, who that ambassador should be. I respect the decision of the government to discontinue with my services."Mr Khan, 50, triggered a controversy in November over stating his concern that religious intolerance was growing in India.
Last evening, Tourism and Culture minister Mahesh Sharma in an attempt to counter reports that the actor was being punished for those remarks, said that the superstar would not feature in the massive campaign to market India with foreign and other tourists because the government's contract (reportedly worth nearly Rs. 3 crores) with advertising agency McCann Erickson had expired, and it was the agency which had arranged for Mr Khan's participation.
"I would like to clarify that all public service films I have done till date have all been free of any cost to me," Mr Khan said in a statement today, stressing that he has been part of the Incredible India campaign for 10 years. "Whether I am brand ambassador or not, India will remain Incredible, and that's the way it should be," he said.
In November, Mr Khan expressed his concern about intolerance being displayed towards minorities. He was attacked on social media by many as "anti-national" for his remarks. He had said that his wife, Kiran Rao, said she was so concerned about the atmosphere of intolerance that she had wondered out loud about relocating from India.
Political and other opponents have accused the BJP and its supporters of whipping up religious tensions in different parts of the country, an allegation firmly rebutted by Prime Minister Narendra Modi and his ministers who say parties like the Congress are trying to discredit the central government.
In September, a man in Dadri in Uttar Pradesh was lynched to death after being falsely accused of having beef in his home; rationalist MM Kalburgi was shot dead in Karnataka a few weeks before that.
National Flag To Fly At Half Mast As Mark Of Respect To Mufti Sayeed
- NEW DELHI: The National Flag will fly at half mast today as a mark of respect to Jammu and Kashmir Chief Minister Mufti Mohammed Sayeed, who died at AIIMS in New Delhi this morning after being hospitalised for a fortnight.
A Home Ministry spokesman said that the government has also decided to accord state funeral to 79-year-old Sayeed in Jammu and Kashmir.
Expressing grief and sorrow over Mr Sayeed's death, the spokesman said, "As a mark of respect to the departed leader, the National Flag will fly at half mast today in capitals of states and Union Territories, including Delhi.
"The government has also decided to accord state funeral to the departed leader in Jammu and Kashmir," the spokesman said.
Mr Sayeed passed away at AIIMS where he was hospitalised on December 24.
The body of Mr Sayeed was flown in a special Indian Air Force plane to Srinagar and he is likely to be buried in his home town Bijbehara in south Kashmir.
Prime Minister Narendra Modi drove to Palam technical area where he paid his last respect to Mr Sayeed and offered condolences to the family members.
A Home Ministry spokesman said that the government has also decided to accord state funeral to 79-year-old Sayeed in Jammu and Kashmir.
"The government has also decided to accord state funeral to the departed leader in Jammu and Kashmir," the spokesman said.
Mr Sayeed passed away at AIIMS where he was hospitalised on December 24.
The body of Mr Sayeed was flown in a special Indian Air Force plane to Srinagar and he is likely to be buried in his home town Bijbehara in south Kashmir.
Prime Minister Narendra Modi drove to Palam technical area where he paid his last respect to Mr Sayeed and offered condolences to the family members.
Business Affairs
Top five factors why Sensex, Nifty slumped to four-month lows
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Dragon sneezed again on Thursday infecting entire global markets to catch cold. While domestic headline indices Sensex and Nifty plunged to their four-month lows, other Asian markets also shed over 3 per cent after China accelerated the depreciation of the yuan, triggering fears of currency war.
Chinese markets tumbled over 7 per cent within one hour of the trading today, pulling newly-launched circuit breakers that halted the trade for the rest of the day.
Tracking losses in China, the S&P BSE Sensex shed over 500 points to slip below its crucial psychological level of 25,000, while broader CNX Nifty fell below its key support level of 7,600.
Though Thursday's market carnage on Dalal Street was primarily caused by China, some of other global and domestic cues also weighed.
Here are top 5 factors that may have played on markets:
1) China further depreciates yuan
The People's Bank of China (PBOC) again surprised markets by devaluing its currency yuan, also known as the renminbi (RMB), raising concerns that China might be aiming for a competitive devaluation or, in a fancy term, currency war to help its struggling exporters.
The PBoC set the official midpoint rate on the yuan at 6.5646 per dollar, the lowest since March 2011. It was 0.5 per cent weaker than the day before and the biggest daily drop since last August, when an abrupt near 2 per cent devaluation of the currency roiled global markets more severe than this day.
Reacting to yuan devaluation, the Domestic currency rupee hit its intraday low of 66.94, down 12 paise against its previous close of 66.82 vs dollar.
2) Fall in Dow futures following slump on Wall Street
The US Dow futures were trading nearly 300 points down pointing to a sharply lower open on Thursday. Overnight, US stocks plunged more than 1 per cent to a three-month low as investors adopted risk-off mode on spate of global and domestic cues.
The minutes of US Federal Reserve's December 16 policy meeting were also released yesterday, which indicated the positive health of the US economy may have been overstated.
"Consumer price inflation continued to run below the FOMC's longer-run objective of 2 per cent, restrained in part by declines in both energy prices and the prices of non-energy imported goods," the FOMC minutes said.
"Some survey-based measures of longer-run inflation expectations edged down, while market-based measures of inflation compensation were still low," FOMC added.
3) Brent at fresh 11-year lows
Brent crude futures fell over 5 per cent to levels not seen since the early 2000s as a sliding yuan left Asian markets in a turmoil, while a huge supply overhang and near-record output levels also continued to drag on oil prices.
Global oil prices have crashed 70 per cent since mid-2014 as near-record output from major producers such as the Organization of the Petroleum Exporting Countries (OPEC), Russia and North America has left storage tanks brimming with supplies.
Exacerbating the oil market woes is a weakening demand, especially in Asia, home to the world's No 2 oil consumer, China, that is seeing the slowest economic growth in a generation.
4) Global growth slowdown
The World Bank on Wednesday cut its global economic growth forecast for 2016, saying the weak performance of major emerging market economies will tamp activity overall, as will anaemic showings from developed countries such as the United States.
Global growth should accelerate to 2.9 per cent this year from 2.4 per cent in 2015, the bank said, but that still represents a downgrade from its June forecast for 3.3 per cent growth.
The bank raised particular concern about the flagging performance of top emerging economies.
The bank, however, added India will continue to be the bright spot of the global economy and is projected to grow at a robust 7.8 per cent in fiscal 2016-17, more than a percentage point higher than China's, according to the World Bank.
5) FII outflows
Persistent foreign capital outflows also affected the market sentiment. Foreign investors sold shares worth Rs 242.48 crores on Thursday as per provisional data.
Dragon sneezed again on Thursday infecting entire global markets to catch cold. While domestic headline indices Sensex and Nifty plunged to their four-month lows, other Asian markets also shed over 3 per cent after China accelerated the depreciation of the yuan, triggering fears of currency war.
Chinese markets tumbled over 7 per cent within one hour of the trading today, pulling newly-launched circuit breakers that halted the trade for the rest of the day.
Tracking losses in China, the S&P BSE Sensex shed over 500 points to slip below its crucial psychological level of 25,000, while broader CNX Nifty fell below its key support level of 7,600.
Though Thursday's market carnage on Dalal Street was primarily caused by China, some of other global and domestic cues also weighed.
Here are top 5 factors that may have played on markets:
1) China further depreciates yuan
The People's Bank of China (PBOC) again surprised markets by devaluing its currency yuan, also known as the renminbi (RMB), raising concerns that China might be aiming for a competitive devaluation or, in a fancy term, currency war to help its struggling exporters.
The PBoC set the official midpoint rate on the yuan at 6.5646 per dollar, the lowest since March 2011. It was 0.5 per cent weaker than the day before and the biggest daily drop since last August, when an abrupt near 2 per cent devaluation of the currency roiled global markets more severe than this day.
Reacting to yuan devaluation, the Domestic currency rupee hit its intraday low of 66.94, down 12 paise against its previous close of 66.82 vs dollar.
2) Fall in Dow futures following slump on Wall Street
The US Dow futures were trading nearly 300 points down pointing to a sharply lower open on Thursday. Overnight, US stocks plunged more than 1 per cent to a three-month low as investors adopted risk-off mode on spate of global and domestic cues.
The minutes of US Federal Reserve's December 16 policy meeting were also released yesterday, which indicated the positive health of the US economy may have been overstated.
"Consumer price inflation continued to run below the FOMC's longer-run objective of 2 per cent, restrained in part by declines in both energy prices and the prices of non-energy imported goods," the FOMC minutes said.
"Some survey-based measures of longer-run inflation expectations edged down, while market-based measures of inflation compensation were still low," FOMC added.
3) Brent at fresh 11-year lows
Brent crude futures fell over 5 per cent to levels not seen since the early 2000s as a sliding yuan left Asian markets in a turmoil, while a huge supply overhang and near-record output levels also continued to drag on oil prices.
Global oil prices have crashed 70 per cent since mid-2014 as near-record output from major producers such as the Organization of the Petroleum Exporting Countries (OPEC), Russia and North America has left storage tanks brimming with supplies.
Exacerbating the oil market woes is a weakening demand, especially in Asia, home to the world's No 2 oil consumer, China, that is seeing the slowest economic growth in a generation.
4) Global growth slowdown
The World Bank on Wednesday cut its global economic growth forecast for 2016, saying the weak performance of major emerging market economies will tamp activity overall, as will anaemic showings from developed countries such as the United States.
Global growth should accelerate to 2.9 per cent this year from 2.4 per cent in 2015, the bank said, but that still represents a downgrade from its June forecast for 3.3 per cent growth.
The bank raised particular concern about the flagging performance of top emerging economies.
The bank, however, added India will continue to be the bright spot of the global economy and is projected to grow at a robust 7.8 per cent in fiscal 2016-17, more than a percentage point higher than China's, according to the World Bank.
5) FII outflows
Persistent foreign capital outflows also affected the market sentiment. Foreign investors sold shares worth Rs 242.48 crores on Thursday as per provisional data.
Stocks that took a beating on Dalal Street as slowdown fears in China intensifies
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Dragon sneezed again on Thursday infecting entire global markets to catch cold. While domestic headline indices Sensex and Nifty plunged to their four-month lows, other Asian markets also shed over 3 per cent after China accelerated the depreciation of the yuan, triggering fears of currency war.
Chinese markets tumbled over 7 per cent within one hour of the trading today, pulling newly-launched circuit breakers that halted the trade for the rest of the day.
Here are top stocks connected to Chinese economy that felt heat on fears of slowdown:
- Tata Motors: Tata Motors, whose subsidiary Jaguar Land Rover (JLR) generates a substantial proportion of its revenues from China, declined 5.90 per cent to hit Rs 344.10 on BSE. JLR also has a joint venture (JV) with Chery Automobile in China.
- Metal stocks: Metals stocks plunged led by selling in Vedanta shares. The scrip tumbled as much as 6.75 per cent to Rs 82.85 on BSE as investors feared growth slowdown in China will lead to decline in export demand. Hindalco, SAIL and Tata Steel also recorded steep losses.
- Banks having exposure to steel companies: Bank of Baroda (BoB) remained the worst performing stock among banking stocks. The scrip fell 4.44 per cent to Rs 142.05. PNB was down 3.5 per cent at Rs 106.10. ICICI Bank lost 2.44 per cent, while SBI shed 2.35 per cent.
- Companies with foreign borrowing: Stocks of companies with foreign borrowing such as Adani Ports, NTPC and Tata Steel logged losses anywhere between 3 to 6 per cent.
- Tyre stocks: Apollo Tyre fell 4.31 per cent, CEAT dropped 5.26 per cent and JK Tyre declined about 7.14 per cent as fears a cheaper yuan would make Chinese tyre exports more attractive hit Indian tyre stocks.
Dragon sneezed again on Thursday infecting entire global markets to catch cold. While domestic headline indices Sensex and Nifty plunged to their four-month lows, other Asian markets also shed over 3 per cent after China accelerated the depreciation of the yuan, triggering fears of currency war.
Chinese markets tumbled over 7 per cent within one hour of the trading today, pulling newly-launched circuit breakers that halted the trade for the rest of the day.
Here are top stocks connected to Chinese economy that felt heat on fears of slowdown:
- Tata Motors: Tata Motors, whose subsidiary Jaguar Land Rover (JLR) generates a substantial proportion of its revenues from China, declined 5.90 per cent to hit Rs 344.10 on BSE. JLR also has a joint venture (JV) with Chery Automobile in China.
- Metal stocks: Metals stocks plunged led by selling in Vedanta shares. The scrip tumbled as much as 6.75 per cent to Rs 82.85 on BSE as investors feared growth slowdown in China will lead to decline in export demand. Hindalco, SAIL and Tata Steel also recorded steep losses.
- Banks having exposure to steel companies: Bank of Baroda (BoB) remained the worst performing stock among banking stocks. The scrip fell 4.44 per cent to Rs 142.05. PNB was down 3.5 per cent at Rs 106.10. ICICI Bank lost 2.44 per cent, while SBI shed 2.35 per cent.
- Companies with foreign borrowing: Stocks of companies with foreign borrowing such as Adani Ports, NTPC and Tata Steel logged losses anywhere between 3 to 6 per cent.
- Tyre stocks: Apollo Tyre fell 4.31 per cent, CEAT dropped 5.26 per cent and JK Tyre declined about 7.14 per cent as fears a cheaper yuan would make Chinese tyre exports more attractive hit Indian tyre stocks.
Netflix launches in India, plans start at Rs 500
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The popular video on demand service, Netflix, has been officially launched in India. During the keynote at CES Las Vegas, Netflix CEO Reed Hastings announced the availability of this service in more than 130 countries including India.
Starting with a one month free trial, the subscription starts for Rs 500 per month. Netflix is offering three different plans to the Indian users. For Rs 500 per month, one can access SD content on a single screen. By paying Rs 650 per month, you can watch HD content on two screens at a time. There is also an option to watch 4k content on up to four screens simultaneously, which costs Rs 800 per month.
This video on demand service works on Internet and can be viewed on any Internet-connected device that offers a Netflix app, such as a computer, gaming console, DVD or Blu-ray player, HDTV, set-top box, home theatre system, phone or tablet.
According to Netflix, the minimum required connection speed is 0.5 megabits per second but will require a faster connection for improved video quality. A download speed of at least 5.0 Mbps per stream is recommended to receive HD content and a download speed of at least 25.0 Mbps per stream is recommended to receive Ultra HD content.
As the service works on Internet connection, streaming one hour of SD content on Netflix will consume 0.7-1 GB of data whereas the HD content can consume 3 GB data in an hour and 7 GB per hour for streaming 4k content.
Netflix has over 70 million members in over 190 countries with more than 125 million hours of TV shows and movies per day, including original series, documentaries and feature films. In 2016, the company plans to release 31 new and returning original series, two dozen original feature films and documentaries, a wide range of stand-up comedy specials and 30 original kids series.
The popular video on demand service, Netflix, has been officially launched in India. During the keynote at CES Las Vegas, Netflix CEO Reed Hastings announced the availability of this service in more than 130 countries including India.
Starting with a one month free trial, the subscription starts for Rs 500 per month. Netflix is offering three different plans to the Indian users. For Rs 500 per month, one can access SD content on a single screen. By paying Rs 650 per month, you can watch HD content on two screens at a time. There is also an option to watch 4k content on up to four screens simultaneously, which costs Rs 800 per month.
This video on demand service works on Internet and can be viewed on any Internet-connected device that offers a Netflix app, such as a computer, gaming console, DVD or Blu-ray player, HDTV, set-top box, home theatre system, phone or tablet.
According to Netflix, the minimum required connection speed is 0.5 megabits per second but will require a faster connection for improved video quality. A download speed of at least 5.0 Mbps per stream is recommended to receive HD content and a download speed of at least 25.0 Mbps per stream is recommended to receive Ultra HD content.
As the service works on Internet connection, streaming one hour of SD content on Netflix will consume 0.7-1 GB of data whereas the HD content can consume 3 GB data in an hour and 7 GB per hour for streaming 4k content.
Netflix has over 70 million members in over 190 countries with more than 125 million hours of TV shows and movies per day, including original series, documentaries and feature films. In 2016, the company plans to release 31 new and returning original series, two dozen original feature films and documentaries, a wide range of stand-up comedy specials and 30 original kids series.
Govt moots early Parliament session for GST bill
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The government said on Thursday it agreed to accept demands set by the Congress party to back a landmark tax reform, raising hopes a political standoff that blocked the measure throughout last year might be resolved.
Parliamentary Affairs Minister Venkaiah Naidu also said the government was willing to bring forward the next parliament session to pass the proposed goods and services tax bill(GST) if Congress supports the measure.
The proposed tax, India's biggest revenue shake-up since independence in 1947, would seek to replace a slew of federal and state levies, transforming the nation of 1.2 billion people into a customs union.
Naidu met Congress leader Sonia Gandhi on Thursday to convey the government's decision. Gandhi, however, didn't assure him of her party's support.
"Sonia said they (Congress) will discuss among themselves and take a final decision," Naidu said. The Congress press team was not immediately available for comment.
The Congress party, the original author of the tax reform, has opposed what it calls the "flawed" version now before parliament, where it has been able to block a key constitutional enabling amendment in the upper house.
It wants the government to cap the GST rate at less than 20 per cent, scrap a proposed state levy and create an independent mechanism to resolve disputes on revenue sharing between states.
The government said on Thursday it agreed to accept demands set by the Congress party to back a landmark tax reform, raising hopes a political standoff that blocked the measure throughout last year might be resolved.
Parliamentary Affairs Minister Venkaiah Naidu also said the government was willing to bring forward the next parliament session to pass the proposed goods and services tax bill(GST) if Congress supports the measure.
The proposed tax, India's biggest revenue shake-up since independence in 1947, would seek to replace a slew of federal and state levies, transforming the nation of 1.2 billion people into a customs union.
Naidu met Congress leader Sonia Gandhi on Thursday to convey the government's decision. Gandhi, however, didn't assure him of her party's support.
"Sonia said they (Congress) will discuss among themselves and take a final decision," Naidu said. The Congress press team was not immediately available for comment.
The Congress party, the original author of the tax reform, has opposed what it calls the "flawed" version now before parliament, where it has been able to block a key constitutional enabling amendment in the upper house.
It wants the government to cap the GST rate at less than 20 per cent, scrap a proposed state levy and create an independent mechanism to resolve disputes on revenue sharing between states.
It wants the government to cap the GST rate at less than 20 per cent, scrap a proposed state levy and create an independent mechanism to resolve disputes on revenue sharing between states.
Yahoo plans to cut 10% or more of its workforce
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Yahoo Inc is working on a plan to cut its workforce by at least 10 per cent and it could start the process as early as this month, Business Insider reported, citing sources.
The layoffs, which would result in more than 1,000 people leaving the tech giant, is set to affect Yahoo's media business, European operations, and platforms-technology group, Business Insider said on Wednesday
This move follows activist investor Starboard Value LP's letter to Yahoo on Wednesday ramping up pressure on Yahoo, taking aim at Chief Executive Officer Marissa Mayer and her leadership team and raising the prospect that a proxy battle is approaching.
Starboard implied that Mayer and her officers needed to go, without naming her specifically.
The activist investor also threatened to shake up the board if Yahoo's stock continued to suffer.
Yahoo spokeswoman Rebecca Neufeld said the company will provide more details on its turnaround plan prior to its fourth quarter earnings call later this month.
Starboard, which owns about 0.75 per cent of Yahoo, has been pushing for changes at the Internet company since 2014, urging it to separate its Asian assets and auction off the core business.
The investor, together with other shareholders, has demanded Yahoo separate the Asian assets, including stakes in Chinese e-commerce company Alibaba Group Holding Ltd and Yahoo Japan Corp, and conduct an immediate public auction of the core business, including search and advertising businesses.
But Yahoo is resisting, instead pursuing a tax-free spinoff of the core business, which could take at least a year.
Yahoo had appointed management consulting firm McKinsey & Co, in November, to help with the reorganization of its core businesses.
The company also had plans to make big changes to its media unit, restructuring and consolidating it, including making cuts and shuttering some efforts.
In December, Yahoo shelved plans to spin off the Alibaba stake and said it would create a separate company that would house Yahoo's Internet business and its stake in Yahoo Japan.
Reuters could not immediately reach Yahoo Inc for comment outside regular US business hours.
Yahoo Inc is working on a plan to cut its workforce by at least 10 per cent and it could start the process as early as this month, Business Insider reported, citing sources.
The layoffs, which would result in more than 1,000 people leaving the tech giant, is set to affect Yahoo's media business, European operations, and platforms-technology group, Business Insider said on Wednesday
This move follows activist investor Starboard Value LP's letter to Yahoo on Wednesday ramping up pressure on Yahoo, taking aim at Chief Executive Officer Marissa Mayer and her leadership team and raising the prospect that a proxy battle is approaching.
Starboard implied that Mayer and her officers needed to go, without naming her specifically.
The activist investor also threatened to shake up the board if Yahoo's stock continued to suffer.
Yahoo spokeswoman Rebecca Neufeld said the company will provide more details on its turnaround plan prior to its fourth quarter earnings call later this month.
Starboard, which owns about 0.75 per cent of Yahoo, has been pushing for changes at the Internet company since 2014, urging it to separate its Asian assets and auction off the core business.
The investor, together with other shareholders, has demanded Yahoo separate the Asian assets, including stakes in Chinese e-commerce company Alibaba Group Holding Ltd and Yahoo Japan Corp, and conduct an immediate public auction of the core business, including search and advertising businesses.
But Yahoo is resisting, instead pursuing a tax-free spinoff of the core business, which could take at least a year.
Yahoo had appointed management consulting firm McKinsey & Co, in November, to help with the reorganization of its core businesses.
The company also had plans to make big changes to its media unit, restructuring and consolidating it, including making cuts and shuttering some efforts.
In December, Yahoo shelved plans to spin off the Alibaba stake and said it would create a separate company that would house Yahoo's Internet business and its stake in Yahoo Japan.
Reuters could not immediately reach Yahoo Inc for comment outside regular US business hours.
General Awareness
Schemes/ Policy launched by Govt. of India
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Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) - Agriculture Irrigation Scheme.
Key points:
Scheme aims at providing irrigation facilities to every village in the country by converging ongoing irrigation schemes implemented by various ministries.
Budgetary allocation: 1,000 crore rupees for fiscal year 2015-16.
Funding Pattern: Centre- States will be 75: 25 per cent. In case of north-eastern region and hilly states it will be 90:10.
Sukanya Samriddhi Yojana: It is a small deposit scheme for the girl child.
Key points of the scheme –
In one family, a maximum of two accounts can be opened for two girl children. The account can be transferred anywhere in India from one Post office/Bank to another.
Age Limit: The upper age limit of the girl child for opening this account is 10 years. The govt. has given a relaxation of one year in the upper age limit for those opening accounts till December 1, 2015.
Documents required - 1. Birth Certificate of the girl child. 2. Address proof. 3. Identity proof.
Minimum & Maximum deposit: The minimum deposit under the scheme is Rs. 1000/-. The maximum deposit is Rs. 1.5 lakhs. There is no limit on the number of investments one can make in an account either in a month or in a year.
Interest rate: The government will announce the interest rate of the scheme every year. However, the government of India has increased the rate of interest from 9.1% (2014-15) to 9.2% (2015-16) for this financial year.
Maturity period: The maturity period of the scheme is 21 years from the date of account opening, though deposits need to be made only for the first 14 years.
The minimum lock-in in period under the Sukanya Samriddhi Yojana is 11 years.
Pradhan Mantri Kaushal Vikas Yojana (PMKVY):
The scheme aims to impart skill training to youth with focus on first time entrants to the labour market and class 10 and class 12 drop outs.
The scheme will be implemented by the Union Ministry of Skill Development and Entrepreneurship through the National Skill Development Corporation (NSDC). I
It will cover 24 lakh persons and skill training would be based on the National Skill Qualification Framework (NSQF) and industry led standards
Bhagyashree scheme:
It is girl child scheme was launched in Maharashtra. Bollywood actress Bhagyashree is the brand ambassador of the scheme.
Key points of the scheme:
The state government will deposit an amount of 21200 rupees in bank for a girl child born in a Below the Poverty Line (BPL) family.
The scheme aims at providing one 1 lakh rupees on maturity after the girl completes 18 years of age.
The scheme would be linked to the Beti Bachao Beti Padhao scheme of Union Government.
Rashtriya Avishkar Abhiyan (RAA):
Former President of India Dr. APJ Abdul Kalam launched the Rashtriya Avishkar Abhiyan (RAA) in New Delhi. The abhiyan aims to inculcate a spirit of inquiry, creativity and love for Science and Mathematics in school children. Rashtriya Avishkar Abhiyan is a concept developed by the Ministry of Human Resource Development. RAA is an effort to take forward the Prime Minister Narednra Modi’s vision of Digital India, ‘Make in India’ and ‘Teach in India’.
About Pradhan Mantri Jeevan Jyoti Bima Yojana:
It is a low premium insurance scheme which will link with the Pradhan Mantri Jhan Dhan Yojna. Key points of the scheme:
Eligibility: Minimum 18 years and maximum 50 years and have bank account are eligible for the scheme. If the account is opened before attaining the age of 50 years, the life cover would remain intact up to the age of 55 years, if premium is paid regularly.
- Premium payable for this scheme is Rs.330 per year i.e. less than Rs.1 per day.
- Risk coverage of Rs.2 Lakh in case of death for any reason.
- The premium paid will be tax-free under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).
About Atal Pension Yojana (APY):
It is a scheme mainly for workers in unorganised sector. The scheme will be administered by the Pension Fund Regulatory and Development Authority (PFRDA) and replace the previous government's Swavalamban Yojana NPS Lite.
Key points of the scheme:
- The subscribers who will joined the scheme would receive the fixed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions.
- Age limit: minimum 18 years and maximum age is 40 years.
- A subscriber can contribute for minimum period of 20 years or more and pension payment will start at the age of 60 years.
- The government of India has decided to co-contribute 50% of the subscriber's contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from 2015-16 to 2019-20, who join the NPS before 31st December, 2015 and who are not income tax payers.
Pradhan Mantri Suraksha Bima Yojana:
It is an insurance scheme which covers death or disablement of the policyholder caused due to accident or accidental injuries.
Key points of the scheme:
- Age limit: Minimum 18 yrs and maximum 70 years.
- The scheme will be a one year cover, renewable from year to year and would be administered through the Public Sector General Insurance Companies in collaboration with Banks.
- Risk coverage: The Pradhan Mantri Suraksha Bima Yojana will offer an accidental death and full disability cover of Rs. 2 Lakh and for partial disability cover of Rs. 1 Lakh.
- Premium: Rs.12 per annum. The premium will be directly auto-debited by the bank from the subscribers' account.
- Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) - Agriculture Irrigation Scheme.
Key points:
Scheme aims at providing irrigation facilities to every village in the country by converging ongoing irrigation schemes implemented by various ministries.
Budgetary allocation: 1,000 crore rupees for fiscal year 2015-16.
Funding Pattern: Centre- States will be 75: 25 per cent. In case of north-eastern region and hilly states it will be 90:10.
Sukanya Samriddhi Yojana: It is a small deposit scheme for the girl child.
Key points of the scheme –
In one family, a maximum of two accounts can be opened for two girl children. The account can be transferred anywhere in India from one Post office/Bank to another.
Age Limit: The upper age limit of the girl child for opening this account is 10 years. The govt. has given a relaxation of one year in the upper age limit for those opening accounts till December 1, 2015.
Documents required - 1. Birth Certificate of the girl child. 2. Address proof. 3. Identity proof.
Minimum & Maximum deposit: The minimum deposit under the scheme is Rs. 1000/-. The maximum deposit is Rs. 1.5 lakhs. There is no limit on the number of investments one can make in an account either in a month or in a year.
Interest rate: The government will announce the interest rate of the scheme every year. However, the government of India has increased the rate of interest from 9.1% (2014-15) to 9.2% (2015-16) for this financial year.
Maturity period: The maturity period of the scheme is 21 years from the date of account opening, though deposits need to be made only for the first 14 years.
The minimum lock-in in period under the Sukanya Samriddhi Yojana is 11 years.
Pradhan Mantri Kaushal Vikas Yojana (PMKVY):
The scheme aims to impart skill training to youth with focus on first time entrants to the labour market and class 10 and class 12 drop outs.
The scheme will be implemented by the Union Ministry of Skill Development and Entrepreneurship through the National Skill Development Corporation (NSDC). I
It will cover 24 lakh persons and skill training would be based on the National Skill Qualification Framework (NSQF) and industry led standards
Bhagyashree scheme:
It is girl child scheme was launched in Maharashtra. Bollywood actress Bhagyashree is the brand ambassador of the scheme.
Key points of the scheme:
The state government will deposit an amount of 21200 rupees in bank for a girl child born in a Below the Poverty Line (BPL) family.
The scheme aims at providing one 1 lakh rupees on maturity after the girl completes 18 years of age.
The scheme would be linked to the Beti Bachao Beti Padhao scheme of Union Government.
Rashtriya Avishkar Abhiyan (RAA):
Former President of India Dr. APJ Abdul Kalam launched the Rashtriya Avishkar Abhiyan (RAA) in New Delhi. The abhiyan aims to inculcate a spirit of inquiry, creativity and love for Science and Mathematics in school children. Rashtriya Avishkar Abhiyan is a concept developed by the Ministry of Human Resource Development. RAA is an effort to take forward the Prime Minister Narednra Modi’s vision of Digital India, ‘Make in India’ and ‘Teach in India’.
About Pradhan Mantri Jeevan Jyoti Bima Yojana:
It is a low premium insurance scheme which will link with the Pradhan Mantri Jhan Dhan Yojna. Key points of the scheme:
Eligibility: Minimum 18 years and maximum 50 years and have bank account are eligible for the scheme. If the account is opened before attaining the age of 50 years, the life cover would remain intact up to the age of 55 years, if premium is paid regularly.
- Premium payable for this scheme is Rs.330 per year i.e. less than Rs.1 per day.
- Risk coverage of Rs.2 Lakh in case of death for any reason.
- The premium paid will be tax-free under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).
About Atal Pension Yojana (APY):
It is a scheme mainly for workers in unorganised sector. The scheme will be administered by the Pension Fund Regulatory and Development Authority (PFRDA) and replace the previous government's Swavalamban Yojana NPS Lite.
Key points of the scheme:
- The subscribers who will joined the scheme would receive the fixed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions.
- Age limit: minimum 18 years and maximum age is 40 years.
- A subscriber can contribute for minimum period of 20 years or more and pension payment will start at the age of 60 years.
- The government of India has decided to co-contribute 50% of the subscriber's contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from 2015-16 to 2019-20, who join the NPS before 31st December, 2015 and who are not income tax payers.
Pradhan Mantri Suraksha Bima Yojana:
It is an insurance scheme which covers death or disablement of the policyholder caused due to accident or accidental injuries.
Key points of the scheme:
- Age limit: Minimum 18 yrs and maximum 70 years.
- The scheme will be a one year cover, renewable from year to year and would be administered through the Public Sector General Insurance Companies in collaboration with Banks.
- Risk coverage: The Pradhan Mantri Suraksha Bima Yojana will offer an accidental death and full disability cover of Rs. 2 Lakh and for partial disability cover of Rs. 1 Lakh.
- Premium: Rs.12 per annum. The premium will be directly auto-debited by the bank from the subscribers' account.
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