Mumbai: 25 per cent seats reserved for EWS in school admissions

Withstanding the technical glitches in the online application process which had deterred the admission process, the education department of Brihanmumbai Municipal Corporation (BMC) has decided to conduct the first round of seat allocation on February 28.

Representational image

Representational image

  • 7-year-old girl seeks a job in Google, gets touching reply from Sundar Pichai
  • CBSE scrapes academic reforms, might discontinue international curriculum
  • Mumbai University: Students, working professional pursuing distance learning course to get free counselling
  • USD 1.5 million grant provided to US University for Jainism Studies
  • NEET 2017: Allahabad HC seeks response from Centre, MCI over age limit

As the admission for the economically weaker sections began in Mumbai on February 9, 2017, over 3,000 applications have been received so far.

ADVERTISING

Under the Right to Education (RTE) Act, 25 per cent seats are reserved for the economically weaker sections.

Withstanding the technical glitches in the online application process which had deterred the admission process, the education department of Brihanmumbai Municipal Corporation (BMC) has decided to conduct the first round of seat allocation on February 28.

“We plan to hold the first round of lottery on February 28, three days after the last date of application,” said Prakash Charhate, deputy education officer, as reported in Hindustan Times.

Charhate further reiterated that first round of admission will be confirm in four days before the second round of seats allocation.

More on the news:

  • While 9,664 seats are available under the RTE admission last year, only 7,449 seats are available for this year
  • The numbers of schools have gone up to 334 from 317
  • The number of seats in pre-primary sections have also reduced to 1,884 from 3,359
  • Unlike in the previous years, government allowed schools to choose to reserved seats in the pre-primary level and in Class 1
  • Following this, several schools have decided Class 1 as their entry level
  • According to RTE Act, 25 per cent seats are reserved for the economically weaker section to promote free and compulsory education
  • source”cnbc”

With per capita income at Rs 1 lakh, Indians splurging; here’s where to make money

When Titan surprised this month coming out unscathed from the impact of demonetisation and posting solid topline growth for December quarter, it confirmed that India’s discretionary spending story thrived through a tough phase of cash squeeze in the domestic economy.

Some other data points also confirm this. The much-talked-about Aamir Khan movie ‘Dangal’ crossed the Rs 300 crore mark during the December quarter to become the highest grosser of 2016.

This January, India’s car sales grew 10 per cent, with C2 category cars – those priced between Rs 8 lakh to Rs 9.5 lakh – growing 22.8% to 48,100 units from 39,145 units in the same month last year. Growth in this segment was driven by cars such as the Ford EcoSport, Hyundai Creta and the Maruti Suzuki Ciaz. The three cars saw a 20 per cent – plus growth in sales during the month.

Mark Mobius, Executive Chairman of Templeton Emerging Markets Group, has underlined this trend in his blog, saying: “The growth of the middle class and rising incomes in many emerging markets mean more discretionary income is available for leisure pursuits. We think this area represents interesting opportunities for investors – one that’s quite fun to explore.”

Is it a theme that is going to stand out as India comes out of the demonetisation pain? Is leisure spending going to emerge the next best bet for equity investors?

Investment gurus are pretty confident themes like leisure spending and discretionary consumption are going to work in an economy, where the per capita income is projected to cross Rs 1 lakh in FY17 from Rs 93,231 in FY16, Rs 86,879 in FY15, Rs 79,412 in FY14 and Rs 71,050 in FY14.

Cinema chains, high-end bike producers, operators of theme parks and quick service restaurants (QSR) stand out within this theme.

Ever since India slapped the cash ban on November 8, share prices of PVR, Westlife Development, Eros International, Wonderla Holidays and Jubilant FoodWorks climbed 1.30 per cent, 15.20 per cent, 9 per cent, 1 per cent and 2 per cent, respectively, till February 10.

Market watchers believe the dining out culture is likely to grow fast in India.

In his blog, Mobius said quick-service restaurants are the name of the game in India. They have experienced a compounded annual growth rate of 25 per cent. About half of India’s total population eats out at least once every three months and in bustling urban metro areas, the number rises to eight times in a month. With a young population, rising disposable incomes and more women in the workforce, it’s easy to see why the ‘eating out’ culture looks set to continue growing in India.

Multiplex chain operator PVR recently reported a 20.76 per cent drop in consolidated net profit at Rs 23.89 crore for the December quarter due to higher expenses. The company had reported a consolidated net profit of Rs 30.15 crore for the corresponding quarter of the last financial year. PVR’s total income from operations during the quarter under review grew 7.44 per cent to Rs 537.71 crore from Rs 500.46 crore for the same period last financial year.

Comparing Bollywood with Hollywood, Mobius said, “Movies produced in the United States (Hollywood) have depended on international sales when revenue at home has been disappointing. Today, China, India and other countries in and outside of Asia are beginning to compete. The ‘Bollywood’ name has become globally recognisable with an annual output of more than 1,000 films, which is double that of Hollywood, although Bollywood’s revenues are much lower and only about 15 per cent of which come from international sales. Low cost of producing animation in India and other Asian countries has added another dimension to the film industry that could spur further growth.

Some analysts say Jubilant FoodWorks, PVR, Westlife Development and Wonderla are some of the cool bets to play under the discretionary spend theme.

Global brokerage houses such as CLSA, Credit Suisse and Morgan Stanely are bullish on Jubilant FoodWorks.

CLSA has maintained a ‘buy’ rating on Jubilant FoodWorks and raised target price to Rs 1,250 from Rs 1,100 earlier. Morgan Stanley and Credit Suisse are overweight on Jubilant FoodWorks with target prices of Rs 1,230 and Rs 1,150, respectively.

Morgan Stanley believes the impact of the currency replacement programme was rather lower than estimates and sees a 100 basis points increase in operating margins for the company after GST implementation.

Jubilant FoodWorks operates Domino’s Pizza and Dunkin’s Donuts chains in India under franchising agreement with the parent companies.

Westlife Development reported 13.20 per cent year-on-year increase in gross sales at Rs 238.04 crore for the quarter ended December 31, 2016. It had reported revenue of Rs 210.28 crore in the same quarter last year.

Domestic brokerage house Anand Rathi Financial Services is bullish on Westlife Development with a target price of Rs 270 (Rs 210 earlier).

source”cnbc”

Retail inflation slips to 3.17 per cent in January

NEW DELHI: Impacted by note ban, retail inflation fell to multi-year low of 3.17 per cent in January mainly on account of declining prices of food items including vegetables and pulses.

Retail inflation, measured in terms of Consumer Price Index (CPI), was at 3.41 per cent in December.

Last month’s inflation, down from 5.69 per cent in January 2016, was lowest in at least over three years.

Inflation in vegetables continued in the negative zone at (-)15.62 per cent as against (-)14.59 per cent a month earlier, as per the data from the Ministry of Statistics and Programme Implementation.

In pulses and products category also, the rate of price rise was negative at (-)6.62 per cent.

Inflation in fruits was higher at 5.81 per cent, fuel and light at 3.42 per cent. The rate of price rise in meat and fish was 2.98 per cent.

Government’s sudden announcement on November 8, 2016 to abolish old Rs 500 and Rs 1,000 notes, nearly 86 per cent of the total cash in circulation, dented demand in the consumer segment.

Top Comment

This is what happens when a nationalist is a PM. A scholar economist could not deliver the goods for India with the help of scamgress govtShiva Narayana

Overall, Consumer Food Price Index was down at 0.53 per cent in January as against 1.37 per cent in December.

Rural retail inflation was at 3.36 per cent in January compared with 3.83 per cent preceding month. For urban sector, it was at stable at 2.90 per cent

source”cnbc”

Infosys stock jumps 2 per cent despite board-founders differences

NEW DELHI: Shares of Infosyswent up further by nearly 2 per cent on Monday even as differences persisted between the founders and the board over corporate governance issues.

The stock, which has been advancing for the last three sessions, moved up by 1.60 per cent to end at Rs 983.50 on BSE. During the day, it gained 1.75 per cent to Rs 985.

At NSE, it rose 1.65 per cent to close at Rs 984.35.

On the volume front, 4.73 lakh shares of the company were traded on BSE and over 68 lakh changed hands on NSE during the day.

In three days, the stock has gained 5 per cent, adding Rs 10,807.51 crore to Rs 2,25,904.51 crore in its market valuation.

In the briefing that came after market hours, Infosys Chairman R Seshasayee today strongly defended the management’s decision on CEO Vishal Sikka’s compensation and the severance package of former key executives, while emphasising that the board will continue to uphold high standards of governance.

Seshasayee said he has been elected by Infosys shareholders and the board to do a job and that he will continue to do it.

In the press meet, Seshasayee defended various other decisions, including those involving appointment of certain independent directors.

The software major has been in the eye of a storm after some of the founders flagged concerns about governance standards that included issues like hike in Sikka’s compensation and the severance pay given to former executives, Rajiv Bansal and David Kennedy.

source”cnbc”

Sebi evolving as per needs of economy: Jaitley

NEW DELHI: Finance minister Arun Jaitley today said Sebi is evolving as per the requirements of the economy and markets as a professional organisation, as he discussed his Budget initiatives with the markets regulator.

After addressing Sebi’s board and top officials at a customary post-Budget meeting, Jaitley said he also discussed the future agenda for the capital markets regulatory body, including the evolving technological and policy changes.

“Sebi is a professional organisation with a considerable experience in this line and has been evolving as per the needs of the economy and the markets itself,” Jaitley told reporters after his post-Budget address to Sebi’s board.

“Primarily, we discussed issues relating to markets … subjects related to future agenda, some of which are Sebi’s own agenda because of various evolutions in markets and technologies and some of which are necessitated by Budget announcements…

“It is those subjects which we have discussed at the meeting today,” the Minister said.

Minister of state for finance Arjun Ram Meghwal and Sebi’s chairman designate Ajay Tyagi, currently additional secretary in finance ministry, were also present.

Sebi’s current chairman U K Sinha was present in the meeting along with other board members and top officials of the regulatory body. Sinha’s term would end on March 1, after which Tyagi will take over.

Besides chairman, Sebi’s board comprises whole-time members, independent directors and nominees from Finance Ministry, Corporate Affairs Ministry and the Reserve Bank.

Sebi was established in 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.

It was set up with a mandate “to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental thereto”.

Latest Comment

Making changes as per changing environment.Jag Mohan

Besides regulating stock exchanges and other market infrastructure institutions, Sebi also regulates and supervises various kinds of market entities including brokers, mutual funds, FIIs, rating agencies and investment bankers, as also thousands of listed companies.

Sebi has also been given charge of regulating commodity derivatives market after merger of erstwhile Forward Markets Commission (FMC) with it.

source”cnbc”

76 per cent students from this university suffer in basic English language skills

A survey conducted by a group of students came across that 76 per cent of students from Ambedkar University Delhi (AUD) suffer problems in English language skills.

76% students from this University suffer problems in basic English language skills

76% students from this University suffer problems in basic English language skills

  • School kids offer roses to two-wheeler riders. Here’s why
  • Two Indian engineers amaze US by developing coding app
  • India to build multi-ethnic school in Sri Lanka
  • No fellowship to non-NET candidates: UGC
  • CBSE won’t apply its 3 Indian language plan for Class 10 Board exam till 2020

A survey conducted by a group of students came across the fact that 76 per cent of students from Ambedkar University Delhi (AUD) suffer problems in basic English language skills i.e. lack of vocabulary, grammatical problems, and problems in sentence formation.

Details of the report:

  • The survey was conducted by the Progressive and Democratic Student Community (PDSC) between October and November 2016
  • A total of 410 students were surveyed
  • The students were from BA, MA, MPhil and PhD batch
  • “A total of 76 per cent students from government schools face problems related to basic English language skills i.e. lack of vocabulary, grammatical problems, and problems in sentence formation and so on. On the other hand, students from private schools face problems with academic jargon, complexity of ideas and lack of confidence among others,” the group noted according to an Indian Express report
  • As per the reports, “The purpose of such a survey is to remind students, professors, and the administration that the question of language is extremely sensitive, pervasive and complex.”

Students who are affected by this problem include:

  • Women and those from ‘lower’ castes, in particular the poor, Dalit, Bahujan, Adivasi
  • “This creates a sense of deficiency and inferiority amongst them within the campus. Thus, it is evident that the question of language is a question of social justice,” the group included.
  • 70 percent of men are affected, while the count rate for women is 82.3 per cent
  • source”cnbc”

CAT 2016: Avidipto Chakraborty tops exam with 100 per cent

Avidipto is a final year student of BITS Pilani, Goa. Currently, he is pursuing BTech (Computer Science) and MSc from the institution.

In picture, CAT topper Avidipto Chakraborty

In picture, CAT topper Avidipto Chakraborty

  • CAT 2016: Female applicants increase yet all 20 toppers are male
  • Boys grab top 20 positions in CAT 2016: Meet the toppers
  • CAT 2016 results out: IIMB to announce a list for personal interviews this evening
  • Character building can treat corruption: Assam Governor
  • 5 universities to come up for minorities: Panel asked to present report in 2 months

The results of CAT 2016 was declared today, January 9, 2017. Kolkata boy Avidipto Chakraborty topped the examination with 100 per cent marks.

Excerpts from the interview

  • Regarding the success, the BITS Pilani student said, “Mock test and analysis is the key to my success. I gave two to three mock tests on a daily basis and in total, i gave 86 mock tests of different institutes like Times, Career launcher and other institutions.”
  • He also attributed his success to his parents and friends. “I got inspiration from people who are scoring more than me, who are repeating the exams. My friends constant advice and guidance helped me a lot,” he said, adding, “My parents gave me full liberty and support.”
  • Avidipto is a final year student of BITS Pilani, Goa. Currently, he is pursuing BTech (Computer Science) and MSc from the institution
  • Regarding his interest in this field, he said, “Though I have performed well in my college, in my engineering courses, I choose this field because I wish to be a consultant.”
  • source”cnbc”

West Bengal: Only 1.5 per cent of state population using government libraries, says Education Minister

The minister said the state government was making all efforts to turn people back towards books and libraries, besides trying to get the present generation hooked to reading.

Image credit: twoapplesaday

Image credit: twoapplesaday

  • IITs urged HRD ministry to review fees exemption policy for economically weaker section
  • Bihar School Examination Board shows signs of successful clean-up in the system post scam
  • Vice-chancellors across North India enter discussion for greater autonomy in universities
  • Bajrang Dal, Congress workers behind recent teachers’ protest: Alleges Manish Sisodia
  • Multitude of teachers protest for salary hike at AAP mega show: Delhi

Only 1.5 per cent of West Bengal’s population uses the state’s 2,480 government libraries that boast a collection of over 1.80 crore books, said education minister Siddiqullah Chowdhury on Thursday.

The minister said the state government was making all efforts to turn people back towards books and libraries, besides trying to get the present generation hooked to reading.

More on the news:

  • Speaking at a press meet here, Chowdhury said from now on all state government libraries would have separate corners for women and children. “All libraries will have to be cleaned at least once a year,” he said
  • Stating that from January 2017, North Bengal would also have an advisory committee on libraries like South Bengal, Chowdhury said the state government has sent a proposal to the British Deputy High Commission so that the state could tie-up with the British Library for the purpose of teaching English to children and youths
  • “The proposal for Kolkata has already been accepted,” the minister said
  • Chowdhury said he has instructed that state government libraries should have books on agriculture, journals and magazines which provide information related to jobs, books on cooking and books for children
  • “Sixty five libraries in Cooch Behar, Jalpaiguri and Alipurduar have no toilets and 90 libraries have no drinking water facility. I have asked all DMs to take proper initiatives,” the minister added.
  • source”cnbc”

West Bengal: Only 1.5 per cent of state population using government libraries, says Education Minister

The minister said the state government was making all efforts to turn people back towards books and libraries, besides trying to get the present generation hooked to reading.

Image credit: twoapplesaday

Image credit: twoapplesaday

  • IITs urged HRD ministry to review fees exemption policy for economically weaker section
  • Bihar School Examination Board shows signs of successful clean-up in the system post scam
  • Vice-chancellors across North India enter discussion for greater autonomy in universities
  • Bajrang Dal, Congress workers behind recent teachers’ protest: Alleges Manish Sisodia
  • Multitude of teachers protest for salary hike at AAP mega show: Delhi

Only 1.5 per cent of West Bengal’s population uses the state’s 2,480 government libraries that boast a collection of over 1.80 crore books, said education minister Siddiqullah Chowdhury on Thursday.

The minister said the state government was making all efforts to turn people back towards books and libraries, besides trying to get the present generation hooked to reading.

More on the news:

  • Speaking at a press meet here, Chowdhury said from now on all state government libraries would have separate corners for women and children. “All libraries will have to be cleaned at least once a year,” he said
  • Stating that from January 2017, North Bengal would also have an advisory committee on libraries like South Bengal, Chowdhury said the state government has sent a proposal to the British Deputy High Commission so that the state could tie-up with the British Library for the purpose of teaching English to children and youths
  • “The proposal for Kolkata has already been accepted,” the minister said
  • Chowdhury said he has instructed that state government libraries should have books on agriculture, journals and magazines which provide information related to jobs, books on cooking and books for children
  • “Sixty five libraries in Cooch Behar, Jalpaiguri and Alipurduar have no toilets and 90 libraries have no drinking water facility. I have asked all DMs to take proper initiatives,” the minister added.
  • source”cnbc”

Consumer forum to FIITJEE: Stop ‘unfair trade practices,’ return 50 per cent tuition fee to students

Consumer forum to FIITJEE: Stop unfair trade practice, return 50 per cent tuition fee to students

Despite of being a famous coaching centre for IIT and other engineering entrance examination since 1992, FIITJEE has been recently charged for collecting fees for two years in one go amounts to “unfair trade practice.”

Details of the report:

  • A district consumer disputes redressal forum, headed by its President Justice N K Goel has filed the case
  • As per reports, FIITJEE has been asked to refund Rs 1, 16,564 to Sanjay Choudhary, father of a student, who had taken admission to this coaching centre
  • While giving details about this case, the officials of forum said, “We hold that the institute (FIITJEE) has committed unfair trade practice by collecting fees for two years in one go. We partly allow the complaint and direct OP to refund half of the fees taken by them from the complainant towards the fee for two years duration”
  • “Accordingly we direct the institute to refund a sum of Rs 1, 16,564 towards 50 per cent of the tuition fee paid by the complainant along with interest at 6 per cent per annum,” the forum added.

Statements from father:

Sanjay Choudhary while stating the incident said, his son had joined Saifabad branch of the institute in Hyderabad for a 2-year integrated school programme for IIT-JEE course in 2010.

As reported, the institute had asked him to pay the fee amount of Rs 2, 33,128 for the two years course before the date of joining.

But as soon as his son found that the classes were not up to the mark, he decided to quit.

Futher, Sanjay Choudhary alleged that the institute declined to refund the fee citing the declarations he had made while joining the course.

What did FIITJEE said in its defense?

  • FIITJEE told the forum that the student had left the course voluntarily
  • Therefore, they were not bound to refund the fees as per their terms and conditions

While giving the final verdict, the forum referred to the Supreme Court judgment which had held that an educational institution can only charge prescribed fee for one semester or year.

source”gsmarena”