Friday, October 17, 2008

TCS to launch passport project at Bangalore, Chandigarh


Within eight years, the number of passports issued have been tripled from 2.2 million in 2000 to six million in 2008

New Delhi:Software major Tata Consultancy Services (TCS) will launch a pilot project for the ambitious Passport Seva Project - a public-private initiative to improve passport services - in two cities shortly, an official said.

The ministry of external affairs July 23 had issued the letter of intent to TCS after it was adjudged the "best value bidder" for the project, which is speculated to be worth Rs.10-15 billion.

According to the official, who is connected with the project, while the formal contract was yet to be signed, work has already begun on the ambitious e-governance project, which aims, among other objectives, to issue a new passport within three days and shorten queue time.

Currently, it takes more than 30 days to issue a new passport - sometimes it takes anything between six to nine months.

"We are planning to first implement a pilot project in a couple of locations first," the official said.
The pilot project is expected to run for about eight months. "Tentatively, we have chosen Bangalore and Chandigarh for the pilot project," he said.

After eight months of implementation, there will be three months of "testing" to evaluate the system. The entire system has to be operational within 19 months of the contract being signed.

Both the external affairs ministry and TCS have kept a low profile, with neither publicising the decision of the committee overseeing the bids.

The two are currently vetting the contract agreement, which may be signed in the next few weeks.

A TCS spokesperson declined to speak on the issue, saying: "We do not want to make any announcements now."

There was also no response from the ministry's consular, passport and visa division that oversees the network of regional passport offices across the country.

It has been a rough road for the project - with the principal opposition coming from the passport employee's union and intelligence agencies, who argue that bringing in a private player could have serious implications for national security.

The government says only front-end and non-sensitive activities would be done by TCS, while all “sensitive aspects” from verification, approval and handling of blank passport booklets will remain with government employees.

The union also claims that despite a cap on new recruitment, passport employees were able to cope with the sharp rise in passport applications every year, and that there was no need for private operators. The Passport Seva Project began as one of the 27 Mission Mode Projects listed in the national e-governance plan.

The Union cabinet approved the seven point plan last September, which included turning the current 36 regional passport offices into back-end offices and a private service provider setting up 68 facilitation offices. It also envisages floating a special purpose vehicle for "management, supervision and monitoring of the project".

The tender for the project was floated last October on the basis of a report by the Hyderabad-based National Institute for Smart Government - a non-profit organisation to spread e-governance in India.

While there had been several queries, only eight companies submitted bids, which were opened this April. The techno-commercial evaluation of the bids then zeroed in on TCS as the "best value bidder".

In return for better services, the private service provider will charge a fee of about Rs.200 for each transaction.

Within eight years, the number of passports issued have been tripled from 2.2 million in 2000 to six million in 2008.

There had been several rounds of negotiations over the past nine months between the employees' union and senior ministry officials. A union leader said a representation has already been given to the ministry. "We are waiting for the announcement (of the contract) to decide the next step," he told IANS. He denied any "deal" had been reached to allow the project to go ahead.

Financial crisis FAQ centre: For lower salary hikes in 2009

IN June this year, wealth conducted a poll on salary hikes you got in this year's appraisal. Here is a snapshot of the results:

45 per cent got a hike of less than 10 per cent
33 per cent got a hike between 10 to 20 per cent
22 per cent got a hike over 20 per cent

Summary: a majority of you got a hike less than 20 per cent.

And, if we go by a survey of Indian corporates conducted by Hewitt Associates, then the next year may not get any better.

The survey suggests that the global economic slowdown, the US-sub prime crisis and rising inflation have led to companies to re-think their salary budgets for the year 2009.

The survey predicts:

--Salary hike of junior level employees in 2009: 14.4 per cent (compared to 15.2 per cent in 2008)
--Salary hike of mid-level employees in 2009: 13.8 per cent (compared to 14.6 per cent in 2008)
--Salary hike in infrastructure sector in 2009: 18.8 percent (compared to 24.1 per cent in 2008)
--Salary hike in banking, financial services and insurance in 2009: 14.2 per cent (compared to 16.5 per cent in 2008)
--Salary hike in manufacturing in 2009: 15.1 per cent (compared to 15.4 per cent in 2008).
--The telecom sector will see continued growth in India, whereas the IT-ITES sectors which have been adversely affected by the recent dollar-rupee volatility and economic slowdown is treading cautiously on salaries.

The predictions are indeed gloomy.

wealth spoke to financial planner Arvind Rao of Dreamz Infinite, who has some smart tips for getting tough to face the crunch.

Your spending habits

--List out your expenditure patterns without being very conservative. Don't cut down on your necessities but try to spend less on luxuries. Then make a proper plan and stick to it.
--Be selective in your choice before taking a loan for your luxury goods. Work out a reasonable repayment pattern with your planner's assistance. Ensure that your EMIs do not exceed 30 per cent of your gross monthly salary.
-- If you are planning to take a home loan, read our article to find out where rates are headed. If possible, defer your decision to borrow till the interest rates cool down.


Your portfolio

--Do not over-estimate your income and under-estimate expenses. Draw out a proper plan to understand where you stand currently and what you wish to achieve.
--Maintain your investments as per your plan and do not get hindered by the market volatility. Try to invest at least 20 per cent of your gross salary.
--Get your financial situation periodically reviewed by your financial planner to spot any unhealthy patterns and take corrective actions accordingly.


Disclaimer: While efforts have been made to ensure the accuracy of the information provided in the content, the web site or the author shall not be held responsible for any loss caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles and information).

http://wealth.moneycontrol.com/features/salary-negotiation/lower-salary-hike-in-200959-how-to-prepare-/11101/0

Monday, October 13, 2008

A Sincere & Humble Request!

Dear All,

I am posting this article was written by my friend Mr. Ameya Nisal (MBA Finance, Entrepreneur @ Pune.)

Dear Friends,

Today I am writing to you, not as your friend, colleague, or any relative……but just a citizen of our country.

Maybe this might sound a bit insane and crazy, and might put up my image that 'Ameya is insane'….but really don't care….


Everybody knows the global crisis and depression clouds which are engrossing almost all countries of the world. The US policies and amendments are no doubt impacting directly or indirectly, each and every trade and transaction of the world.

As respect to our country, India has got many foreign investors who had invested a lot of money which was being poured in different sectors , Banks, Shares, real estate and so on….However, when their own country kicked the shit out of the financial policies, it all affected their foreign investment and they just pulled out……


Even after all this, today, India is not spreading its hands in front of any country, nor has it pleaded its own countrymen to do something. However, I would encourage you to adopt these policies –

Please invest money right now in the assets which will give more money for the Indian government to use, directly…or indirectly…

Invest in money market, bonds, mutual funds, shares, fixed deposits, postal savings….anything……

But if you really have a feeling of gloomy markets, please invest in 'Fixed Deposits'. The advantage of investing in Fixed Deposit is

  • · Your Money is assured and safe.
  • · You definitely get interest on it.
  • · Banks get to use your money, and hence will reduce their financial crunch.
  • ( this is the need of time for all Indian Banks)


This is our contribution, without anything to lose. I know this sounds crazy, but single-single drops contribute to create an ocean!!!

Do make a FD in whichever banking you trust. This is indirectly helping RBI (Reserve Bank of India) to curb the financial instability.

We as citizens of India, I think we need to prove that we are independent country and have got a potential not only to grow firmly, but also keep our stability intact.

This is my simple insane mission I am trying to circulate in my fellow people, and I humbly request you to circulate this email to as many Indians as possible.

Just to give you some statistics…..even if this email reaches 10000 people, I think at least 2000 people would make a FD of at least 10000Rs….( too pessimist figures, but still)

This makes it an increase in FD market by Rs 2 Crore.

This is OUR simple contribution towards development and commitment towards my country.

Requesting you to join the league….

-Ameya

Jai Hind!

You can read more on-

http://ameyanisal.blogspot.com/

(Please pass this message to all your office members, friends, colleagues, relatives, business contacts and personal contacts too)

Friday, October 10, 2008

Project 10 to the 100: Google's Call for Change

Google turned 10 in 2008. As part of its tenth anniversary, Google launched Project 10 to the 100. This project is intended to generate and support the most innovative ideas in humanitarian aid that address pressing world issues. For instance, the Hippo Water Roller - an innovative idea to address water transport issues in rural areas in developing countries - inspired Google's global call for similar ideas under Project 10 to the 100.

Speaking about the need for such projects, Alan Noble, director of engineering for Google Australia and New Zealand, said, “We know there are many brilliant ideas out there that will help improve the lives of people around the world, but which need funding and support to come to fruition.”

To join in, you simply need to fill out a submission form outlining your idea. Supplement it with a 30-second video, if you want and send in your idea by October 20.

Google will select the 100 best ideas before having the public vote for the top 20 semifinalists in late January, 2009. Five finalists will split the €7 million (US$10 million), which Google will give to them to help get their projects off the ground.

Know more about Project 10 to the 100 and enter the contest.