17-YEAR JOURNEY TO A LOGICAL CLIMAX

After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will roll out from midnight tonight, overhauling India's convoluted indirect taxation system and unifying the USD 2 trillion economy with 1.3 billion people into a single market. GST, which will replace more than a dozen central and state levies like factory-gate, excise duty, service tax and local sales tax or VAT, is India's biggest tax reform in the 70 years of independence and will help modernise Asia's third largest economy.

Here is a look at the timelines that shaped 'one nation, one tax' system

- February 1986: Finance Minister Vishwanath Pratap Singh proposes a major overhaul of the excise taxation structure in the budget for 1986-87.

- 2000: Prime Minister Atal Bihari Vajpyee introduces the concept, sets up a committee headed by the then West Bengal Finance Minister Asim Dasgupta to design a GST model.

- 2003: The Vajpayee government forms a task force under Vijay Kelkar to recommend tax reforms.

- 2004: Vijay Kelkar, then advisor to the Finance Ministry, recommends GST to replace the existing tax regime.

- February 28, 2006: GST appears in the Budget speech for the first time; Finance Minister P Chidambaram sets an ambitious April 1, 2010 as deadline for GST implementation. He says the Empowered Committee of finance ministers will prepare a road map for GST.

- 2008: Empowered Committee of State Finance Ministers constituted.

- April 30, 2008: The Empowered Committee submits a report titled 'A Model and Roadmap Goods and Services Tax (GST) in India' to the government.

- November 10, 2009: Empowered Committee submits a discussion paper in the public domain on GST welcoming debate.

- 2009: Finance Minister Pranab Mukherjee announces basic structure of GST as designed by Dasgupta committee; retains 2010 deadline.

- BJP opposes GST basic structure.

- February 2010: Finance Ministry starts mission-mode computerisation of commercial taxes in states, to lay the foundation for GST rollout.

- Pranab Mukherjee defers GST to April 1, 2011.

- March 22, 2011: UPA-II tables 115th Constitution Amendment Bill in the Lok Sabha for bringing GST.

- March 29, 2011: GST Bill referred to Parliamentary Standing Committee on Finance led by Yashwant Sinha.

- Asim Dasgupta resigns, replaced by the then Kerala Finance Minister KM Mani.

- November 2012: Finance Minister P Chidambaram holds meetings with state finance ministers; decides to resolve all issues by December 31, 2012 for GST rollout.

- February 2013: Declaring UPA government's resolve to introducing GST, Chidambaram in his Budget speech makes provision for Rs 9,000 crore to compensate states for losses incurred because of GST.

- August 2013: Parliamentary standing committee submits report to Parliament suggesting improvements on GST. GST Bill gets ready for introduction in Parliament.

- October 2013: Gujarat Chief Minister Narnedra Modi opposes GST Bill saying state would incur losses worth Rs 14,000 crore every year due to GST.

- 2014: GST Bill cleared by Standing Committee lapses as Lok Sabha dissolves; BJP-led NDA government comes to power.

- December 18, 2014: Cabinet approves 122nd Constitution Amendment Bill to GST.

- December 19, 2014: Finance Minister Arun Jaitley introduces the Constitution (122nd) Amendment Bill in the Lok Sabha; Congress objects.

- February 2015: Jaitley sets April 1, 2016 as deadline for GST rollout.

- May 6, 2015: Lok Sabha passes GST Constitutional Amendment Bill.

- May 12, 2015: The Amendment Bill presented in the Rajya Sabha.

- Congress demands the Bill be sent to Select Committee of Rajya Sabha; demands capping GST rate at 18 per cent.

- May 14, 2015: The GST Bill forwarded to joint committee of Rajya Sabha and Lok Sabha.

- August 2015: Government fails to win the support of Opposition to pass the bill in the Rajya Sabha where it lacks sufficient number.

- July 2016: Centre opposes capping GST rate at 18%; gets states around.

- August 2016: Congress, BJP agree to pass the Constitution Amendment Bill.

- August 3, 2016: Rajya Sabha passes the Constitution Amendment Bill by two-thirds majority.

- September 2, 2016: 16 states ratify GST Bill; President Pranab Mukherjee gives assent to the Bill.

- September 12: Union Cabinet clears formation of GST Council

- September 22-23: Council meets for first time.

- November 3: GST Council agrees on four slab tax structure of 5, 12, 18 and 28% along with an additional cess on luxury and sin goods.

- January 16, 2017: Jaitley announces July 1 as GST rollout deadline. Centre, states agree on contentious issue of dual control and taxing rights on goods at high sea.

- February 18: GST Council finalises draft compensation bill providing to make good any revenue loss to states in first five years of GST rollout.

- March 4: GST Council approves CGST and Integrated-GST bills.

- March 20: Cabinet approved CGST, IGST and UT GST and Compensation bills.

- March 27: Jaitley tables CGST, IGST, UT GST and Compensation bills in Parliament. Lok Sabha and Rajya Sabha pass all the four key GST Bills - Central GST (CGST), Integrated GST (IGST), State GST (SGST) and Union Territory GST (UTGST).

- May 18: GST Council fits over 1,200 goods in one of the four tax slabs of 5, 12, 18 and 28%. Over 80% of goods of mass consumption either exempted or taxed under 5% slab.

- GST Council fixes cess on luxury and sin goods to create kitty for compensating states.

- May 19: GST Council decides on 5, 12, 18 and 28% as service tax slabs.

- Jun 21: All states except Jammu and Kashmir pass SGST law.

- June 28: Mamata Banerjee announces her party's decision to skip midnight launch of GST.

- June 29: Congress, Left too decide to skip launch.

- June 30 Midnight: GST set to roll out.

STAGE SET FOR GRAND GALA LAUNCH OF GST

Stage is set for the launch of a nationwide goods and services tax at midnight tomorrow amid protests from opposition parties who see hardships to small businesses in pushing through the biggest economic reform without preparations. Prime Minister Narendra Modi will at midnight unveil the new tax regime replacing overnight the messy mix of more than a dozen state and central levies built up over seven decades, with a one national GST unifying the country's USD 2 trillion economy and 1.3 billion people into a common market. President Pranab Mukherjee, who had originally moved the Constitution Amendment bill for bringing GST way back in 2011 when he was the finance minister in the previous UPA regime, will be present alongside eminent personalities at the historic Central-hall of Parliament. Unlike the last midnight event held in 1997 on the occasion of golden jubilee of the Independence at a special session of Parliament, it will be a gala event at the circular -shaped hall that has been loaned for the launch of the historic reform. The government promises that the transition to a single, nationwide tax on goods and services will streamline business and boost the economy by tearing down barriers between 31 states and union territories. It is estimated to add 0.4 per cent to 2 per cent to GDP growth. But some businesses are still figuring out how it will work as they race against time to adopt or upgrade cash registers and computer system so they are able to file monthly tax returns that comply with the new tax regime. Opposition parties TMC, Congress and Left see undue haste in the implementation, causing hardships for millions of tiny neighbourhood shops that don't even use a calculator. They have decided to boycott the gala event. Finance Minister Arun Jaitley made a last minute appeal to them to reconsider their decision saying the landmark indirect tax reform was a result of a joint decision and they cannot run away from it now. Urging the opposition parties to "display broad shoulders", he said they should not "disassociate" from the decision they were a party to. But opposition parties say they are not against the GST but only want small businesses, who face wrenching change, to be given more time. Former prime ministers Manmohan Singh and H D Deva Gowda too have been invited to launch a new taxation system that is set to dramatically re-shape the over USD 2 trillion economy. But with Congress deciding to boycott the event, Singh may not be seen on the seat reserved for him on the dais. Jaitley acknowledged there may be "teething troubles" with many businesses as well as state governments still scrambling to get ready. But he has assured that the effort would eventually help reduce rampant tax evasion. For some businesses, the GST is complex with four broad tax categories of 5, 12, 18 and 28 per cent, and myriad exceptions, as opposed to a simpler, flatter and broader sales taxes in other countries. Switchover to the GST has added to the worries of businesses that are still recovering from the November 8 shock decision to overnight remove 86 per cent of currency from circulation. One of the things that is keeping companies occupied ahead of the launch is calculation of input tax credit, which allows them to claim refunds on tax paid on inputs and pay tax on the value adds only. From soft drink makers to automobile firms, companies are busy calculating final consumer price to be charged from July 1. The government, however, defends the decision saying enough time was given to businesses to adapt to the new regime. Notwithstanding this, the government will take a lenient view for tax returns filed in the initial period. Revenue Secretary Hasmukh Adhia said honest tax payers will benefit from GST and the new regime will not result in price increase of any essential or daily use commodity.
Jaitley today met industry associations and traders to nudge them to pass on the benefits of any reduction in tax incidence to consumers.
The industry on its part said it will take about 3 months to gauge the situation.
"We assured him (Jaitley) we are ready for the roll out. Even if this was rolled out after 6 months, we would have same amount of panic. Hotel industry will take it in its stride," Bharat Hotels CMD Jyotsna Suri said. Her company runs hotels under the Lalit brand. First proposed in 2003, the idea of GST was bogged down for years in bipartisan debate, with political parties in government trying to push it and those in opposition dragging it down. Before Modi came to power three years ago, his party was not particularly in favour of the GST. Over 1,200 items, from shampoo to tea to automobiles, have been put in four broad tax categories. Unbranded food staples including vegetables, milk, eggs and flour will be exempt from GST, along with health and education services. Tea, edible oils, sugar, textiles and baby formula will attract a 5 per cent tax.

DHIRUBHAI ENJOYED IN WEALTH CREATION

Leading businessman Anil Ambani today said more than creating wealth for himself, his father late Dhirubhai Ambani derived greater happiness from creating wealth for masses. "If you ever asked what part of being an entrepreneur he (late Ambani) enjoyed the most, he would say, 'I enjoy creating wealth. But what I enjoy even more is in creating wealth for the people of the country,'" the Anil Ambani Group chairman said while addressing an industry event here. It can be noted that the late Ambani, who had a humble beginning as a primary school teacher's son in Gujarat, is regarded as the father of capital markets and the equity cult, who made millions of investors millionaires with the IPO of Reliance Textile Industries in 1977. A person who had put in Rs 1,000 then in the IPO is worth over a million today, going by the price of RIL. Stating that the launch of Kothari Pioneer Mutual Fund, which was country's first private MF in 1993, was his (Dhirubhai's) idea of achieving wealth creation for the masses, Anil said the launch of Reliance MF in 1995 was an added effort to achieve the same. He claimed that the launch of Reliance Growth and Reliance Vision funds in 1995 is justifiably regarded as a watershed event in the history of mutual funds in the country as these brought millions of retail investors into the capital markets and generated unprecedented wealth for them. He said Reliance MF has grown from an AUM (assets under management) of under Rs 60 crore in 1995 and Rs 2,200 crore in 2002 to Rs 2.25 trillion now, which is an over 100 times of growth, while the total AUM of the AMC (asset management company) currently is Rs 3.58 trillion. At the same time, the domestic mutual fund industry, with 5.7 crore individual accounts, has expanded its AUM to reach Rs 20 trillion. Describing free markets as the best invention, Ambani said that of all earthly inventions, the free market is perhaps the greatest force for economic good in human history. Hailing the government's focus on financial inclusion, he said the national rollout of JAM (Jan Dhan, Aadhaar and mobile-as-digital-platform) has prepared the ground for bringing hundreds of millions of unbanked and excluded citizens into the financial system. Calling for a deeper penetration of financial products into the markets, he lamented, "Even though 9/10 of us have a mobile phone and 3/10 of us have a smartphone, only 1/25 has an investment in a mutual fund." Urging the MF industry to follow e-commerce in reaching out to the hinterland, he said, "If e-commerce can exploit the power of technology to reach out to our hinterland and create better consumer experience, so can our financial sector." Ambani added: "It is time we made buying mutual funds as easy as buying a smartphone on the Net." He wanted Sebi to "allow anyone with a legitimate bank account to invest in financial products since their bank KYC is already in place".

ASTRO TECHNICAL GUIDE FOR NIFTY

for June 30, 2017

Forenoon Better

Tithi ::Aashadha Sukla Sapthami

Nakshatra: Uttara;

Persons born in Aardra, Swathi and Sathabhisham and those born in Libra and Aquarius are advised to be alert in their dealings.

Sensitive / Trend change Timings : 1.55 PM;

Likely Intraday Trend...

On the basis of planetary position and aspects amongst planets, Market is expected to open steady and expected to recover from 9.30 AM to 1.40PM and could remain Sudued thereafter till close of the day.

Astro Technical Trading Strategy...

If Nifty Fut. Trades above the Open / ATP level by about 9.30AM , Long Positions can be taken with suitable SL, and such positions can be closed by about 1.30 PM. If Nifty fut trades below the ATP  about 2.00PM, Short Positions can be taken with suitable SL and such positions can be closed by about end of the day.

Technical Levels...

Resistance : 9545, 9580 Support : 9465, 9430

---------------------------------------

IF resistance levels are achieved in the forenoon session, buying may be avoided at higher levels and risky traders can consider short positon for a pull back to Bullish trigger level. IF Support levels are achieved in the forenoon session, selling may be avoided at lower levels and risky traders can consider buying for a pull back upto  Bearish trigger level / other support levels.

Intraday trend given above is relative and based purely on the basis of planetary positions / aspects and needs to be understood and astrological portion given above should be considered together and applied for taking proper trading decisions.

Disclaimer :: Intraday trading is risky and Astro guidance is to be depending on intraday movements . applied depending on the real time market movement.  used as an additional tool in addition to technicals and adapted  Technical portion. Loss / Gain in market depends onIndividual natal chart.  Creator only knows what is going to happen and astrologer can only indicate what is likely to happen . Investment decisions made on the above analysis would be at your own risk and I take no responsibility for your decisions based on the above analysis.'

Trade only with stop loss..

Stay Disciplined for Successful Trading and Investing..

 

ASTRO TECHNICAL GUIDE FOR NIFTY

for June 27, 2017

Second Half Subdued with Scrip Specific Movements

Tithi ::Aashadha Sukla Shashti

Nakshatra: Pubba;

Persons born in Mrigasira, Chitta and Dhanishta and  those born in Virgo and Capricorn  are advised to be alert in their dealings.

Sensitive / Trend change Timings :11.00AM; 12.13PM;1.15 PM;

Likely Intraday Trend...

On the basis of planetary position and aspects amongst planets, Market is expected to open Subdued and expected to recover from 10.45 AM to 12.50PM and remain Sudued thereafter till close of the day.

Astro Technical Trading Strategy...

If Nifty Fut. Trades above the Open / ATP level by about 10.45AM , Long Positions can be taken with suitable SL, and such positions can be closed by about 12.45 PM. If Nifty fut trades below the ATP  about 1.00PM, Short Positions can be taken with suitable SL and such positions can be closed by bout end of the day.

Technical Levels

Resistance : 9530, 9565 Support : 9450, 9415

---------------------------------------

IF resistance levels are achieved in the forenoon session, buying may be avoided at higher levels and risky traders can consider short positon for a pull back to Bullish trigger level. IF Support levels are achieved in the forenoon session, selling may be avoided at lower levels and risky traders can consider buying for a pull back upto  Bearish trigger level / other support levels.

Intraday trend given above is relative and based purely on the basis of planetary positions / aspects and needs to be understood and astrological portion given above should be considered together and applied for taking proper trading decisions.

Disclaimer :: Intraday trading is risky and Astro guidance is to be depending on intraday movements . applied depending on the real time market movement.  used as an additional tool in addition to technicals and adapted  Technical portion. Loss / Gain in market depends onIndividual natal chart.  Creator only knows what is going to happen and astrologer can only indicate what is likely to happen . Investment decisions made on the above analysis would be at your own risk and I take no responsibility for your decisions based on the above analysis.'

Trade only with stop loss..

Stay Disciplined for Successful Trading and Investing..

 

MEN PREFERRED OVER WOMEN IN HIRING

Gender diversity may be a politically correct proposition, but when it comes to corporate hiring, the reality is men are preferred to women even if the two are equally qualified for the same job. This is one of the findings by a Randstad Workmonitor survey, where 55 per cent of overall respondents from India indicated that men are favoured over women when two candidates are equally qualified for the same set of responsibilities.
Giving a break-up, 61 per cent males and 47 per cent females held this view. Globally, the figure stood at 70 per cent. But there is a silver lining. Interestingly, despite numerous reports on gender pay gap, a whopping 91 per cent of respondents from India believed that both men and women in similar roles were rewarded equally at their workplace, much higher than the global average of 79 per cent who thought so. Besides, 88 per cent felt that both men and women are equally supported while seeking a promotion, the report added.
"Gender diversity may be high on the agenda for India Inc today, but what I believe is diversity is not just a goal or a guideline, it is a business imperative. All the corporate and government initiatives are just a start, the real change can happen only when we succeed in addressing the deep-rooted mindsets about the role of women at work," said Paul Dupuis, MD and CEO, Randstad India.
Nearly 57 per cent respondents from India had a male manager preference and a vast majority (70 per cent) pointed out that currently, they work with a male manager.
"This was even higher than the global average of 67 per cent, who said they currently work with a male superior," the report said. Moreover, team diversity is highly appreciated by all employees globally. In India, 89 per cent said they prefer to work in a gender-diverse team while 86 per cent believed that such teams perform and achieve better results than single gender ones.
The Randstad Workmonitor study covers 33 countries around the world. It is conducted online among employees aged 18-65 years, working a minimum of 24 hours a week in a paid job (not self-employed). The minimum sample size is 400 interviews per country.

NIFTY @10K THIS FISCAL

The Nifty is likely to hit 10,300 -10,400 level this fiscal amid positive market sentiment, expectation of continuation of reforms, GST implementation and favourable monsoon, brokerage firm HDFC Securities has said. "Trajectory is positive and we are moving towards 10,300 -10,400 levels of Nifty but we have to see whether it will come with correction or it will straightaway go there," Dhiraj Relli, MD & CEO, HDFC Securities told PTI. The brokerage firm said that markets are looking positive and has responded positively to the structural reforms done by the government in the last three years. "We have seen earnings improving in Q4. We have seen that mother of all reforms is on anvil, which is GST. We are seeing that we will have a steady GDP growth in India. So, macros are all in place. "The government has adhered to the fiscal prudence. Keeping in mind all these macros in place and positive monsoon, we are heading for an earning upgrade and it will definitely lead to increase in multiples that will drive the market," he said. Trajectory is looking very positive, so market is moving up in calendar year 2017. Having said that, we may see correction and if at all we see correction that will be healthy, Relli said, adding that there can be a global sell- off that can have a short-term impact. On the reasons for optimism in the market, he said, "People are feeling that the government is adhering to structured reforms and will continue this process. GST implementation will drive higher GDP growth and sales of organised sector than the unorganised sector. So, this would drive earnings. Lower crude prices is also one area which will help margins to sustain for most of the sectors". On the Goods and Services Tax, he said, "GST is going to be disruptive at least in Q2 because we are seeing lot of stocking and restocking happening, it could lead to preponing and postponing the buying decision, to that extent it is disruptive for the Q2". "However, in the long run it will have a positive impact on the GDP growth. The devil lies in the implementation, if execution is good then it will have long lasting positive impact," Relli added. GST will be rolled out from July 1. About the immediate triggers for the market, he said, "The single largest point which market is looking at is the implementation of GST. How disruptive it is, how much benefit it brings on the table and what kind of impact it will have on the market. "Mid next month onwards, we will start getting earnings for the quarter 1 and the trend will start appearing then, giving cues about the market. And third, there will be monetary policy in August as well".

ASTRO TECHNICAL GUIDE FOR NIFTY

 for June 27, 2017

Sell on Rise

Tithi ::Aashadha Sukla Panchami

Nakshatra : Makha

Persons born in Rohini, Hastha and Sravanam and those born in Virgo and Capricorn are advised to be alert in their dealings.

Sensitive / Trend change Timings : 1.20 PM;

Likely Intraday Trend...

On the basis of planetary position and aspects amongst planets, Market is expected to open Subdued and expected to recover from 11 AM and may remain Subdued from 1 PM .

Astro Technical Trading Strategy...

If Nifty Fut. Trades above the Open / ATP level by about 11AM , Long Positions can be taken with suitable SL, and such positions can be closed by about 1.00 PM.

Technical Levels...

Resistance : 9550, 9585 Support : 9470, 9435

----------------------------------- 

IF resistance levels are achieved in the forenoon session, buying may be avoided at higher levels and risky traders can consider short positon for a pull back to Bullish trigger level. IF Support levels are achieved in the forenoon session, selling may be avoided at lower levels and risky traders can consider buying for a pull back upto  Bearish trigger level / other support levels.

Intraday trend given above is relative and based purely on the basis of planetary positions / aspects and needs to be understood and astrological portion given above should be considered together and applied for taking proper trading decisions.

Disclaimer :: Intraday trading is risky and Astro guidance is to be depending on intraday movements . applied depending on the real time market movement.  used as an additional tool in addition to technicals and adapted  Technical portion. Loss / Gain in market depends onIndividual natal chart.  Creator only knows what is going to happen and astrologer can only indicate what is likely to happen . Investment decisions made on the above analysis would be at your own risk and I take no responsibility for your decisions based on the above analysis.'

Trade only with stop loss..

Stay Disciplined for Successful Trading and Investing..

FINANCIAL YEAR TO CHANGE FROM 2018

Come 2018 and the financial year in India could commence from January instead of April as the Centre appears set to make the historic transition to end the 150-year-old tradition. Accordingly, the next Budget could be presented by the Centre in November this year, high level government sources told PTI here today. The sources said the government is working on aligning the financial year with the calendar year after Prime Minister Narendra Modi pitched for a change. This would be another historic change after advancement of the Budget presentation to February 1 this year, ending the decades-old practice of presenting the annual exercise in the last week of February. According to the proposal under discussion, the Budget session of Parliament would have to be held well before December so that the budgetary exercise can be concluded by the year-end. Since it takes nearly two months for the conclusion of the budgetary exercise, the possible dates for holding the Budget session could be the first week of November, the sources said. The financial year from April 1 to March 31, currently in vogue nationally, was adopted in 1867 principally to align the Indian financial year with that of the British government. Till then, the financial year in India used to commence on May 1 and end on April 30 of the following calendar year. After Modi expressed his desire to align the financial year with the calendar year, the government had last year appointed a high-level committee to study the feasibility of shifting the financial year to January 1. The panel submitted its report to the Finance Minister in December. Among the various factors, a NITI Aayog note had said that a change in the financial year was required as the current system leads to sub-optimal utilisation of working season. It had also noted that the current financial year cycle was chosen without any reference to national culture and traditions or convenience of legislators. Also, the financial year is not aligned with international practices and it impacted data collection and dissemination from the perspective of national accounts, according to the note prepared by NITI Aayog member Bibek Debroy and OSD Kishore Desai, citing experts. A few months back, the Parliamentary Standing Committee on Finance also recommended shifting the financial year to the January-December.
Modi while advocating a change in the financial year had said that there is a need to develop robust arrangements that could function amidst diversity. "Because of poor time management, many good initiatives and schemes had failed to deliver the anticipated results," the prime minister had said.
Madhya Pradesh became the first state to announce shifting of its financial year format to January-December from 2018.

KERALA STARTUP FOUND SOLUTION FOR AMBULANCES STUCK IN THICK TRAFFIC

A technical solution to end the problem of ambulances being stuck in traffic junctions has been found by two entrepreneurs here.
The novel solution by the start-up venture of Mohamed Jasim and Muhammed Sadique, Traffitizer Technologies Pvt Ltd, which is incubated at the Centre for Social Innovation and Incubation at Rajagiri School of Engineering and Technology (RSET), will soon be set up at the junctions.
Their Traffitizer- Emergency Response System (T-ERS) is a Centralized Internet of Things (IoT) based system, with artificial intelligence at different levels.
This has a hardware-software module that can be connected to the traffic control system at any traffic junction.
"All that an ambulance driver has got to do before starting an emergency trip is to turn on the T-ERS configured in their ambulance unit. Traffic junctions will automatically initiate a green channel path when the ambulance enters a predefined zone near the traffic junction area," RSET principal Dr A Unnikrishnan told.
He said the criticality of the patient can also be set by the ambulance driver in the T-ERS application, which makes the system capable of handling situations with multiple ambulances reaching a junction simultaneously intelligently.
The length of the green channel zone at the junctions can also be set to dynamic mode that can be defined by traffic police depending on traffic flow during peak and non-peak hours.
The T-ERS system that works on an internet based platform can also be remotely controlled from traffic control rooms.
"This project has a direct impact on humanity... this will solve one of the major issues faced in ambulance vehicle patient transportation system in different developing countries" said Fr Jose Alex CMI, Director- RSET.
The institute claimed that the system was later assessed, tested and evaluated by Kochi City Traffic Police under the guidance and support of the Commissioner, M P Dinesh and DCP Yathish Chandra.
The system was commissioned at Kakkanad junction on April 17, 2017 and is now gearing up to scale to other junctions.
"The T-ERS was fixed in ambulances operating out of Kakkanad and has already helped more than 20 emergency patient shifting. Thrikkakara Muncipal Cooperative hospital has most number of use cases of T-ERS," said Mohamed Jasim, Co-Founder and Managing Director of Traffitizer Technologies Pvt. Ltd.
"Our next milestone is to cover all main junctions in Kochi city", said Muhammed Sadique, Co-Founder and Director of Traffitizer Technologies Pvt Ltd.
"I strongly recommend this system as it has proven to be highly effective. The system with limited hardware components can be easily extended to other traffic junctions at a lower cost. Hope this will be a good infrastructure for the cities", Yatish Chandra, Dy Commissioner of Police, Law and Order, Traffic, Kochi city said.
Team Traffitizer has already got many recognitions to their credit.
They had won the second prize in TiECon Kerala 2015 with a cash prize of Rs 40,000. TiE Kerala had also given them a seed funding of Rs 1.4 Lakh.
Traffitizer is also incubated under Kerala Start-up Mission and has received Rs 2 Lakhs funding for patent filing.
They said the company is one among the 1117 start-ups recognised by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.

YOGI COMPLETES 100 DAYS IN POWER

Yogi Adityanath today completed 100 days in office as the Uttar Pradesh chief minister, but it was a low-key event with no fanfare to showcase the achievements, except for the government asserting that it has given the "best performance and result". The BJP government, which assumed office on March 19 after bagging 325 of the 403 Assembly seats along with its allies, however, faces major challenges, some of these being raising funds for the farm loan waiver and law and order issues, including communal clashes. "In the last 100 days, we have given the best performace and result in the interest of 22 crore people of the state," Deputy Chief Minister Keshav Prasad Maurya told PTI here in an interview. Summing up the highlights of the 100-day of governance, he said, "There is fear among the corrupt and the criminals as they are not getting political patronage now as in the past." He said, "This is a paradigm shift from what it used to be during the previous (SP and BSP) governments." Maurya, who is also the state party chief, said, "Action has been initiated against the land mafia and we are moving rapidly to meet the high expectations of the people who reposed their faith in the BJP during the elections."

The loan waiver, a pre-poll promise of the BJP, has the finance department burning the proverbial midnight oil as it tries to offload the sudden fiscal burden of nearly Rs 36,369 crore. This, coupled with Rs 34,000 crore for the implementation of the Seventh Pay Commission recommendations, has put an additional burden of Rs 70,000 crore on the state's coffers, an official said. There are other challenges too, like arranging funds for mega projects like the Purvanchal e-way. The government has also admitted it could manage to make just 63 per cent of the state's roads pothole free by the June 15 deadline set by the chief minister. Distribution of free laptops among students, mentioned in the BJP manifesto, is another unfinished promise. The scheme was inaugurated on March 19, but no launch date has been announced yet. The 45-year-old saffron clad chief minister and his cabinet colleagues have already sought more time saying they inherited a "jungle raj" from the SP government and it would take them some time to set things in order. As the state government was busy preparing a 100-day achievement document, the opposition parties stepped up their attack. State Congress spokesperson Dwijendra Tripathi ridiculed the ruling party for making promises that it could not meet. "Two months of the Adityanath government have not sent out any strong message on any of the issues which were part of the BJP's campaign -- improved law-and-order situation and better administration," he said. BSP chief Mayawati alleged that the Dalits, the OBCs as well as the forward castes, including the Brahmins, have been facing "atrocities" in the state in an apparent attempt to associate Adityanath and his government with Kshatriyas only. As the head of the Gorakhnath Peeth, Adityanath has often associated himself with Kshatriya symbols. He is often seen surrounded mostly by Kshatriyas and has supported Thakur leaders of other parties too. In 2013, he came out in support of Kunda MLA Raghuraj Pratap Singh, alias Raja Bhaiya who was accused of conspiring to kill a deputy superintendent of police. Not known to take the frequent barbs directed at him lying down, the former chief minister and SP leader Akhilesh Yadav recently took on the UP government, saying, "I never knew officers wielded brooms so well. Now the question is how much filth have they cleared so far?" He said the deadline to make state roads pothole-free by June 15 remained a "pipe dream". Asked about the Adityanath government's decision to probe the expressway and river front projects launched during the SP rule, Akhilesh said, "Will this government do any work...or will it only conduct probes? This government should try to do better work than us." Refuting criticism on the law and order, state Cabinet Minister Shrikant Sharma said, "A special cell will be constituted in the CM's office for crime monitoring, which will be done personally by the CM. "The SP leaders, who have carried criminals and rapists with them in their cars, should introspect," he added. Since taking office on March 19, the Adityanath government has recommended CBI probes into several projects of the previous dispensation led by Akhilesh Yadav, leaving the SP fuming. "The government has become an inquiry committee. It is resorting to such tactics to smokescreen its failures...It smacks of politics of vendetta," SP chief spokesperson Rajendra Chowdhury told PTI. He said the state was under "an undeclared Emergency" since the saffron party came to power. For almost a month after Adityanath took over the reins of the state, some 80 presentations were made by as many departments before him. Counting the government's achievements, Principal Secretary (Information) Avaneesh Awasthi said it has half-a- dozen significant measures, starting with the Rs 36,500 crore loan waiver and the power-for-all agreement. The power-for-all agreement with the Centre promises electricity round-the-clock to district headquarters and 18 hours-a-day to all villages. A group of ministers constituted by the chief minister has submitted a report on a new mining policy and on clamping down on illegal mining, a major problem in UP. A portal being launched under the CMO's supervision to allow people to file complaint on illegal land-grab could be a game-changer too, officials said. Another key decision was making transfers and postings of bureaucrats "merit-based" and free from extraneous pressures as reflected in wide-scale transfers done by the government.

FPIs keep faith in equities

Foreign investors have invested about USD 124 billion in Indian equities over 2008-17 and own large stakes in the country's best companies, says a report. In stark contrast, Indians have "consumed" around USD 300 billion worth of gold over the same period. "The next decade will perhaps decide the winner, but we note that foreigners own large stakes in India's best companies," said Kotak Institutional Equities in a note.
Foreign portfolio investors (FPIs) own a combined more than 50 per cent in five of India's top seven banks and financial institutions.
"It seems that foreigners have more faith in India's economy (banks are perhaps the most leveraged plays on the same) than Indians," the report said. Large gold imports reflect low confidence historically among Indians in government policies and the sharp rise in gold imports up to 2012-13 reflected the Indian citizens' concerns about high inflation.
The report further said India's inflation management policy achieved remarkable success, and this in turn should reduce gold's function as a "store of value".
According to the report, of the total USD 124 billion stock investment over 2008-17, FPIs put in USD 96 billion in 2010-14.
Moreover, a bulk of FPI inflows into India by this March-end in the current decade came especially in the years with high inflation.
According to the report, the value of FPI holding in the top 200 stocks by market capitalisation stood at around USD 130 billion as of March 31, 2007.
The value of the same portfolio -- no change in ownership -- of stocks would have increased to about USD 279 billion as of March 31, 2017.
"We note that the current value of FPI holding in the top 200 stocks (BSE-200 Index stocks) is USD 368 billion," the report said, adding that an analysis of the top 25 holdings of the FPIs shows that the increase in foreign ownership in certain companies has resulted in superior returns.
Moreover, India's financial inclusion programme has attained "undeniable" success and should reduce the compulsion of citizens to own gold as they have access to bank accounts.
Besides, a proper taxation policy on gold is expected to achieve the desired national goals, the report added.

SBI CHIEF SALARY A RAIN DROP IN A OCEAN

SBI, one of the world's 50 largest banks, pays only a small fraction to its top management as compared to private sector players like ICICI Bank and HDFC Bank. Former RBI governor Raghuram Rajan had flagged the low remuneration issue last August saying it makes difficult for state-owned banks to "attract top talent, especially a lateral entry". SBI Chairman Arundhati Bhattacharya took home Rs 28.96 lakh last fiscal, which is pittance when compared to remuneration of her counterparts in private banks receive, according to analysis of annual reports of various banks. In comparison, ICICI Bank MD and CEO Chanda Kochhar received a basic salary of Rs 2.66 crore last fiscal besides Rs 2.2 crore performance bonus to be paid over the next few years. In addition, she received allowances and perquisites of over Rs 2.43 crore. The total compensation received by Kochhar in FY17 stood at Rs 6.09 crore. Similarly, Shikha Sharma, MD and CEO of Axis Bank, took home a basic salary of Rs 2.7 crore, and Rs 1.35 crore as variable pay, besides host of perks and allowances like Rs 90 lakh HRA. Yes Bank MD and CEO Rana Kapoor, who also happens to be promoter of the bank, took home Rs 6.8 crore as salary in 2016-17. HDFC Bank's Managing Director Aditya Puri saw his remuneration rise marginally to Rs 10 crore and exercised stock options worth over Rs 57 crore during the last fiscal. Speaking about public sector banks at a banking conference in Mumbai, Rajan had said state-owned banks tended to overpay at the bottom but underpay their top executives. He jokingly said he himself was underpaid and the disparity made it harder to attract talent from outside at the top level in public sector banks. On the business front, SBI, after merger with its subsidiary banks, caters to 42.04 crore customers with a market share of 23.07 per cent and 21.16 per cent in deposits and advances, as opposed to 18.05 per cent and 17.02 per cent respectively, before the merger. Punjab National Bank, the nearest rival of SBI among PSBs post merger, will have a market share of 5.96 per cent, and 7.04 per cent in deposits and advances. Remuneration comprises various components, including basic salary, allowances and perquisite, PF, superannuation allowances, gratuity and performance bonus and payment of performance bonus is deferred over a multi-year period. Not only such high disparity in compensation makes it difficult for the government to hire top managers laterally at public sector banks, as pointed out by Rajan, it also impacts the motivation of public sector managers who have to fiercely compete with their private sector peers.

Perol price dip by Rs.1.77 in a week after introduction of daily rates revision

Petrol prices have been cut by Rs 1.77 per litre and diesel by 88 paise a litre ever since the daily revision in rates was implemented just over a week back. Sate-owned oil companies this month dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantaneously reflect changes in cost. Prices of petrol and diesel have been revised at 0600 hrs everyday since June 16 and the biggest beneficiary has been the consumer. Petrol price was at Rs 65.48 a litre on June 16 in Delhi and today it costs Rs 63.71 per litre, according to information available from oil companies. Similarly, a litre of diesel was priced at Rs 54.49 on June 16 but has since dropped to Rs 53.61, thanks to the softening international oil prices. "Previously, the benefit of any decline in international oil prices would have been passed on to consumers only after a fortnight, but now it is instantaneously reflected in the billing," explained a senior oil company executive. The previous practice of revision in rate on 1st and 16th of every month, which began with de-regulation of auto fuel on April 1, 2002, was based on average international oil price and foreign exchange rate in the preceding fortnight. "Many a times, international rates would fall for one week and then rise in the following. So, the net effect of this in the previous price revision policy was status quo or a marginal change in rate. But now, any decline is passed on immediately and the consumer gets the benefit," he said. On the other hand, when oil prices rise, this would also hold true. According to oil company data, petrol price has been cut almost every day with reduction ranging from 11 paise to 32 paise per litre. Diesel prices have been cut between 2 paise and 18 paise a litre. Rates have declined on every single day since the daily price revision was introduced. Petrol and diesel prices were de-regulated, or freed from government control from April 1, 2002 and the fortnightly revision in rates kicked in. The deregulation derailed a bit when international oil prices started to climb after 2004. Fortnightly revision continued but the revision was not completely in snyc with the required price increase. Petrol price was finally freed in June 2010 and diesel in October 2014. The daily price revision was implemented after a successful pilot in five cities. Daily price change will remove the big leaps in rates that need to be effected at the end of the fortnight and the consumer will be more aligned to market dynamics. The three state-owned fuel retailers had implemented daily revision of retail selling price (RSP) of petrol and diesel on a pilot basis in Udaipur in Rajasthan, Jamshedpur in Jharkhand, Puducherry, Chandigarh, and Vizag in Andhra Pradesh from May 1.

RBI widens Banking Ombudsman Scope

The Reserve Bank today the extended the scope of Banking Ombudsman Scheme under which banks could be penalised for mis-selling third-party products like insurance and mutual funds via mobile or electronic banking. The pecuniary jurisdiction of the Banking Ombudsman to pass an award has been doubled to Rs 20 lakh. "Under the amended scheme, a customer would also be able to lodge a complaint against the bank for its non-adherence to RBI instructions with regard to mobile banking/ electronic banking services in India," the central bank said. The RBI had widened the scope of its Banking Ombudsman Scheme, 2006, to include, inter alia, deficiencies arising out of sale of insurance, mutual fund, and other third-party investment products by banks. Further, "the pecuniary jurisdiction of the Banking Ombudsman to pass an Award has been increased from existing rupees one million to rupees two million", it said. Compensation not exceeding Rs 1 lakh can also be awarded by the Ombudsman to the complainant for loss of time, expenses incurred as also, harassment and mental anguish suffered by the complainant. Banking Ombudsman is a quasi judicial authority functioning under the Banking Ombudsman Scheme, 2006. The authority was created to enable resolution of complaints of customers of banks relating to services rendered by the lenders.

WEEKLY ASTRO TECHNICAL GUIDE FOR NIFTY

Outlook for the Week 27.06.2017 to 30.06.2017

Nifty Near Crucial Support    

NIFTY :: 9575 (-13)

Nifty traded in a narrow range of 9565 to 9699 during last week and closed nearer to the lower end of the range for the week at 9575 with a Loss of 13 Points, a loss of about 0.13%, with a slight negative outlook. Nifty is trading near Crucial Support and if it closes below 9550, it would become weak.

- The short term trend is Neutral. It is Bullish both for Medium and Long term, Short term could become Bearish if Nifty comes and closes below 9525.

- 20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 9628, 9452, 9209 and 8816 respectively and would act as Supports and Resistances as Nifty is trading above all the Moving averages except 20 DMA.

- Nifty continues to trade above the 200 DMA and also the 50 DMA and 50 DMA too has come above 200 DMA (Golden Cross has come at about more than Five months ago) suggesting that the Long term outlook has become Bullish and Nifty continues to trade above both the Long term Averages and hence can be considered Bullish or Long term too.

Technical Levels...

Breakout level : 9650 Breakdown level : 9500

Bullish above 9650 with Resistance at 9725, 9800

Bearish below 9500 with Supports at 9425, 9350.

Advice for Traders...

Weekly Open level is very important for the entire week. Long positions may be considered as long as it maintains above the Weekly open level.

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Moon would be transiting from Aslesha i 3 rd Pada in Cancer to Uttara 4 th Pada in Virgo.

Sun transits from Aardra 1st Pada in Gemini to Aardra 3 rd Pada in Gemini.

Mercury transits from Aardra 3 rd Pada to Punarvasu 2 nd Pada in Gemini .

Venus transits from Bharani 4 th Pada in Aries to Krittika 2 nd Pada in Taurus.

Mars transits in Aardra 4 th Pada in Gemini to Punarvasu 1 st Pada in Gemini .

Saturn transits in Retro motion from Jyeshta 4 th Pada in Scorpio and transits in Pisces Navamsa.

Jupiter, in Direct motion, transits in Hastha 3 rd Pada in Virgo and in Gemini Navamsa.

Rahu and Ketu transit in Leo and Aquarius and in Aries and Libra Navamsas,

Moon has commenced its journey between Dhanishta and Revathi in Aquarius and Pisces Raasis between 15 th June to 19 th June and has made a range of 9561 to 9673 (112 points) and Since the High is crossed subsequently, it should have gone up but failed to go up and if the Low is crossed it would go Down. Low level is 9561, if it breaches the Low it can down to about 9450.

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Better after Opening Session (for Tuesday)

Tithi ::Jyeshta Sukla Triteeya

Nakshatra: Aslesha;

Persons born in Krittika, Uttara and Uttarashadha constellations and those born in Leo and Sagittarius are advised to be alert in their dealings.

Sensitive / Trend change Timings : 12.35 PM;

Likely Intraday Trend...

On the basis of planetary position and aspects amongst planets, Market is expected to open Subdued and remain So upto 9.50 AM and Better thereafter till about 2.00 PM and could remain subdued till about end of the day.

Astro Technical Trading Strategy...

If Nifty Fut. Trades above ATP by about 10.00 AM, Long Positions can be taken with suitable SL, and such positions can be closed by about 2.00 PM; If Nifty fut trades below by 2.15 PM, Short Positions can be taken with suitable SL , and such Positions can be closed by end of the day.

Technical Levels...

Resistance : 9615, 9650 Support : 9535, 9500

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IF resistance levels are achieved in the forenoon session, buying may be avoided at higher levels and risky traders can consider short positon for a pull back to Bullish trigger level. IF Support levels are achieved in the forenoon session, selling may be avoided at lower levels and risky traders can consider buying for a pull back upto  Bearish trigger level / other support levels.

Intraday trend given above is relative and based purely on the basis of planetary positions / aspects and needs to be understood and astrological portion given above should be considered together and applied for taking proper trading decisions.

Disclaimer :: Intraday trading is risky and Astro guidance is to be depending on intraday movements . applied depending on the real time market movement.  used as an additional tool in addition to technicals and adapted  Technical portion. Loss / Gain in market depends onIndividual natal chart.  Creator only knows what is going to happen and astrologer can only indicate what is likely to happen . Investment decisions made on the above analysis would be at your own risk and I take no responsibility for your decisions based on the above analysis.'

Trade only with stop loss..

Stay Disciplined for Successful Trading and Investing..