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Economy

Mohammad Anas Wahaj | 29 apr 2024

India needs to work upon scientific and technological research and development to become an advanced nation. In an interview with Amitabh Sinha, Deputay Editor of The Indian Express, Indian government's Principal Scientific Advisor Ajay Kumar Sood explains the building of a vision and roadmap to become a developed nation by 2047 driven by science and technology. He says, 'We have fairly good scientific traditions and a fairly strong base. But if you look at any of the commonly used indicators to measure the scientific strength of a country, we are far behind, way below the global average. That is because our contribution in science is not proportional to our size or potential. This has to change.' According to him India should work and improve upon indicators like GERD (General Expenditure on Research and Development), the number of researchers per million population, women in science, number of patents etc. There is need for quality in research publications. Moreover, deployment of breakthrough technologies will provide 8-10% economic growth, an essential component to become a developed nation by 2047. He says, 'A Viksit Bharat will have to be a leader in science. There is no other way...The National Research Foundation (NRF) is one big decision that the government is banking heavily on.' Read on...

The Indian Express: In 2047, in terms of science, India should be in top 3 or 5: PSA Ajay Kumar Sood
Author: Amitabh Sinha


Mohammad Anas Wahaj | 26 mar 2024

India has a thriving entrepreneurship and innovation ecosystem. Traditionally India has always been an enterprising economy with sizeable individuals involved in small and medium enterprises. But, last decade has seen a significant rise in tech-driven new age entrepreneurship and startup culture. Mr. Shri Sanjiv, Joint Secretary (Startup India) at the DPIIT (Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, GOI) provides the detailed explanation of India's evolving entreprenurial landscape, government policies and programs such as Startup India Initiative and involvement of sizeable young minds that are a large demographic of India. He says, 'Eight years ago, on January 16, 2016, India embarked on an ambitious journey, one that would transform the face of the innovation and entrepreneurship ecosystem...The number of recognised startups in the country has gone from around 400 in 2016 to more than 115000...The unprecedented success of India's startup ecosystem is a positive indicator of the nation's ability to be self-sustaining and to provide prosperity to all segments of society...the launch of the Startup India initiative in 2016 with a simple goal: to create an environment that would empower the people of India to become entrepreneurs and create world-class startups...the systemic approach followed by DPIIT to drive the Startup Indian Initiative: Ideate, Implement, and Innovate. A consistent and comprehensive approach has led to the ideation of targeted flagship programs under the Startup India initiative. The three flagship schemes,i.e., the Fund of Funds for Startups (FFS), the Startup India Seed Fund Scheme(SISFS), and the Credit Guarantee Scheme for Startups (CGSS), demonstrate this philosophy clearly. They were designed keeping in mind that it was neither practical nor ideal to have a one-size-fits-all approach to funding due to the nature of a startup's lifecycle...India is a large country, both in terms of geography and demography, with multiple different factors at play at any given point in time. This was a major consideration under the Startup India initiative and led to the conceptualization of programs such as the National Startup Awards (NSA) in 2020 and the States' Startup Ranking Framework (SRF) in 2018. Both of these programs aim to promote innovationacross the length and breadth of the country...With the notification of the National Startup Advisory Council, policymakers from the government and startup ecosystem stalwarts have worked tirelessly to guide the initiative and suggest practical steps, leading to the development of national initiatives such as the Startup India Investor Connect Portal, the National Mentorship Portal (MAARG) (Mentorship, Advisory, Assistance, Resilience, and Growth), and Startup Champions 2.0, amongst others...visit the Startup India Hub portal, and find all the resources they need to set up a startup...The ideation and institutionalization of Startup20 Engagement Group under India's G20 Presidency in 2023 is a testimony to the government's bringing startups to mainstream policy making agendas and the impact of our startup ecosystem on a global scale...Reaching the goal of Viksit Bharat@2047, the 100th year of independence, represents multiple new possibilities for both the government and India's startups...As we celebrated National Startup Day on January 16th and Startup India Innovation through the month of January 2024, the efforts of all stakeholders...are indispensable to transforming India into a global startup hub.' Read on...

Times Now: India's Startup Revolution: Exploring the Rise of Innovation and Entrepreneurship
Author: Shri Sanjiv


Mohammad Anas Wahaj | 29 feb 2024

A recently held panel discussion on 'Decade of Union Budgets: Analysis and Assessment' was organised by MBA Department of Alva's College at Moodbidri (Karnatake, India), in association with Confederation of Indian Industry, Young Indians Mangalore Chapter, Kanara Chamber of Commerce and Industry and TiE Mangalore Chapter at Moodbidri. The panelists were - Rasananda Panda, professor of Economics a Mudra Institute of Communication, Ahmedabad; Ashok Dalwai, Chairman of the empowered Body on Doubling Farmers' Income; G. V. Joshi, Economist and former member of the State Planning Board; Dharmendra B. Mehtha, Retired Indian Revenue Service (IRS) Officer; Cotha Srinivas, ICAI Central Council Member; Narasimha Nayak, Former ICAI Udupi Chapter Chairman; Nobert M. Shenoy, Financial Consultant. Mr. Panda said, ' Education and healthcare were vital indicators of a country's economic growth. Despite decades of warnings from experts about the need for increased funding in these sectors, governments have failed to allocate additional resources.' Mr. Dalwai emphasised the importance of considering both the Budget and allocation outside of it. Mr. Joshi said, 'The government must prioritise job creation and address concerns regarding the fiscal deficit. It is crucial to address challenges faced by small and marginal farmers forming 90% of the farming population. Tackling climate change should be a priority.' Mr. Mehtha talked about emphasis on strong infrastructure development. Read on...

The Hindu: Successive governments declined additional allocation to education and healthcare, laments Economics professor
Author: NA


Mohammad Anas Wahaj | 31 aug 2023

According to S&P Global Market Intelligence, in 2022 India ranked 4th most popular destination for startups and attracted 4.2% of global venture capital (USA - 41%, China - 18%, UK - 6%). Moreover, it is estimated that the global venture capital share of India will double by 2030. Sampath Sharma Nariyanuri, CFA Fintech Research Analyst at S&P Global Intelligence and Shankar Krishnamurthy, Head of Essential Tech Center of Excellence & Innovation at S&P Global, looking forward into 2030 answer 3 questions regarding Indian startups and their impact on the economy - (1) Will venture capital (VC) interest in Indian startups continue?: As India is expected to be 3rd largest economy there is huge scope of growth in startup ecosystem. In 2022, starup funding surpassed amount raised by public companies. Growth in mobile internet and government supported digital stack will give a boost to startups. India saw a record 26542 startup registrations in 2022, even amid a global funding slowdown. India had more than 92000 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) as of 28 feb 2023. (2) Which startup sectors will be resilient in India?: The fintech sector has topped the funding charts in India in recent years, attracting a cumulative US$ 9.7 billion in 2021 and 2022. ndia's digital commerce and on-demand services space won more than US$ 10 billion of VC investments over the last two years. Online B2B marketplaces in manufacturing and retail raised US$ 2.76 billion in aggregate in the last two years. Government sponsored initiatives like Account Aggregator (AA) network and the Open Credit Enablement Network (OCEN), will boost and streamline online lending workflows and can be integrated with e-commerce, fintech and marketplace apps. While Open Network for Digital Commerce (ONDC) will bring interoperability across the widely fragmented digital commerce space. Other main sectors that attracted substantial VC funding include E-commerce (US$ 7.320 billion), Edtech (US$ 4.256 billion), Food and Grocery Delivery (US$ 3.462 billion), Media and Entertainment Tech (US$ 3.013 billion), Healthcare Tech (US$ 2.206 billion) etc. (3) What are the emerging sectors for startups in India?: Emerging sectors that got VC funding in 2021 and 2022 combined include AgTech (US$ 1.112 billion), Electric Vehicles (US$ 1.065 billion), Automation (US$ 0.591 billion), Clean Technology (US$ 0.193 billion). Artifical Intelligence, Space Technology and Drones are other significant emerging sectors. Electric vehicles sector will need about US$ 266 billion of investment this decade to meet government targets. In the long-term, India's open APIs and public digital stack will likely act as enablers for new startups. Read on...

S&P Global: Startups Riding Digital Infrastructure Could Transform Indian Economy
Authors: Sampath Sharma Nariyanuri, Shankar Krishnamurthy


Mohammad Anas Wahaj | 29 apr 2023

Even though India is on a development and growth path, but there are areas that require special attention particularly the social issues like poverty, unemployment, gender inequality, and environmental degradation. According to the Lancet study 'Progress on Sustainable Development Goal (SDG) indicators in 707 districts of India: A quantitative mid-line assessment using the National Family Health Surveys, 2016 and 2021' (Authors: S.V. Subramanian of Harvard University, Mayanka Ambade of Laxmi Mittal and Family South Asia Institute India, Akhil Kumar of Harvard University, Hyejun Chi of Korea University, William Joe of Institute of Economic Growth India, Sunil Rajpal of Korea University, Rockli Kim of Korea University), India is not on-target for 19 of the 33 SDGs indicators. The critical off-target indicators include access to basic services, wasting and overweight children, anaemia, child marriage, partner violence, tobacco use, and modern contraceptive use. For these indicators, more than 75% of the districts were off-target. Because of a worsening trend observed between 2016 and 2021, and assuming no course correction occurs, many districts will never meet the targets on the SDGs even well after 2030. Abhishek Dubey, founder and CEO of Muskaan Dreams, suggests that India needs more social impact entrepreneurs to make a positive difference in society. Social entrepreneurs are capable to put their talent and energy for social causes that they value along with generating revenue and profits. The are well suited to contribute effectively to India's growth story for following reasons - (1) Tackling social problems at scale (2) Promoting inclusive growth (3) Solving environmental challenges (4) Innovating for social impact (5) Bridging the gap between the public and private sectors (6) Creating sustainable ventures. Read on...

Forbes: Why India needs more social entrepreneurs
Author: Abhishek Dubey


Mohammad Anas Wahaj | 28 apr 2023

Entrepreneurial ecosystem is essential for thriving economy as it creates jobs and wealth. According to the 2022 Global Startup Ecosystem Report (GSER2022), US$ $6.4 trillion of value creation happened due to global startup economy. The GSER2022 ranks startup ecosystems on seven success factors, including performance and talent and at the top are - Silicon Valley, New York City, London, Boston and Beijing. First Site Guide puts USA at the top country with 71153 startups and there over 69% of entrepreneurs having started their business at home. India is the third largest startup ecosystem with 107 unicorns (valuation of US$ 1 billion or more) and a a total valuation of $340.79 billion, as of 7 September 2022. By 2025, India is expected to have 250 unicorns. GSER2022 reports rise in Indian ecosystems ranking - Delhi entered top 30 and now is at 26, up 11 places, while Bangalore has moved up one place and is at 22. According to Global Entrepreneurship Monitor (GEM) India Report 21-22, India’s entrepreneurial activity expanded in 2021, with its total entrepreneurial activity rate(% of adults aged 18–64 who are starting or running a new business) increased to 14.4% in 2021, up from 5.3% in 2020. India has the highest fintech adoption rate in the world at 87%, the global average rate being 64%. India’s largest share from fintech startups is through ‘payments’ and is followed by lending, wealth tech, personal finance, insurtech, regtech and others. Government of India's 'Digital India' also boosted the adoption of fintech. Read on...

Financial Express: Global Growth of entrepreneurship; India not far behind
Author: Archie Bandyopadhyay


Mohammad Anas Wahaj | 25 feb 2023

Even though India's economic growth is a silver lining in the global economic landscape and the big cities are the front runners in contributing to the GDP with 60% share, but all this growth is not translating into the enhanced quality of life of their urban population. About 1/3rd of India's population resides in urban centers. According to the Economic Intelligence Unit's (EIU) Global Liveability Index 2022 five Indian cities are ranked poorly among 173 cities of the world - Delhi (140), Mumbai (141), Chennai (142), Ahmedabad (143), Bengaluru (146). The cities are ranked on the basis of five parameters - political stability, healthcare, culture and environment, infrastructure, and education. The Ministry of Housing and Urban Affairs (MoHUA) developed the Ease of Living Index (EoLI) 2022 by evaluating 111 Indian cities based on the quality of life, economic ability, sustainability, and resilience. Bengaluru is ranked at the top with a score of 66.70 out of 100, followed by Pune, Ahmedabad, Chennai, Surat, Navi Mumbai, Coimbatore, Vadodara, Indore and Greater Mumbai. Delhi is ranked 13th. Bangaluru's ranking in the global index (at the bottom among other Indian cities) and the Indian index (at the top), brings a point that more indicators and benchmarks need to be included to achieve reliable insights, particularly for the assessment of quality of life. EoLI indicators for quality of life include affordable housing, traffic congestion, quality of air and the city's ability to withstand natural disasters. Affordable housing situtaion in India's cities is in very bad state. The draft Delhi Master Plan 2041 estimated that 85% of residents cannot afford a regular shelter. The air quality in Indian cities is further deteriorating and some are ranked at the top in global most polluted cities ranking. Similar is the case with disaster management situation with most cities unprepared to handle it effectively. Traffic condition is also deteriorating in these cities. TomTom, the leading geolocation technology specialist measuring city traffic congestion, placed Bengaluru as the 10th most congested globally in 2021, while in 2022 it took the second place. Central government, local state governments and agencies must take appropriate measures to enhance the quality of life in these cities with focus on affordable housing, public transport, sustainable population growth due to migration in urban centers by providing employment opportunities in sub-urban and rural areas, proper policies on environment and tackling climate change, better disaster management preparedness etc. Read on...

Observer Research Foundation: India's economic rise is not translating into a rise in city liveability
Author: Ramanath Jha


Mohammad Anas Wahaj | 27 aug 2022

According to Rajesh Verma, Secretary in the Ministry of Corporate Affairs (Govt. of India), 'Indian companies have spent more than ₹1 trillion in CSR since the framework for corporate spending on community came into force in 2014-15. Investments in ESG (Environment, Sustainability and Governance) will play a key role in not only meeting the US$ 5 trillion economy goal, but also sustainable development goals (SDG) by 2030 and achieving net zero emissions by 2070.' He suggests that for the survival and betterment of the world, and to overcome present and future challenges - like COVID-19, climate change, resource scarcity, inequality etc - needs people to be responsible, accountable and considerate towards each other. In these challenging scenarios large corporations have special role to play that they can perform through CSR and similar responsible activities. Many Indian companies are even spending more than they are required to under the CSR law. To encourage spending the law allows credit for the excess spending in a year which can be set off against future spending obligations. Green finance is a growing field. According to RBI bulletin of October 2021, global issuance of the green bong had surpassed US$ 250 billion in 2019 and among the list of emerging economies, India is secong to China in the cumulative emerging market green bond issuance. Read on...

Livemint: India Inc spent ₹1 trillion on CSR over seven years
Author: Gireesh Chandra Prasad


Mohammad Anas Wahaj | 17 may 2022

According to Reserve Bank of India's (RBI) 2021-2022 Report on Currency and Finance (RCF) named 'Revive and Construct', the losses due to COVID-19 pandemic will take 15 years to overcome. The report suggests that India should focus on seven wheels of economic progress - aggregate demand; aggregate supply; institutions; intermediaries and markets; macroeconomic stability and policy coordination; productivity and technological progress; structural changes and sustainability. Moreover, price stability is an essential condition for strong and sustainable growth path. Shaktikanta Das, Governor of RBI, emphasises the need to create a virtuous cycle of greater opportunity for entrepreneurs, businesses, and the fiscal authority. For India's economic growth structural reforms that are needed include - enhancing access to litigation free low-cost land; raising the quality of labour through public expenditure on education and health and the Skill India Mission; scaling up R&D activities with an emphasis on innovation and technology; creating an enabling environment for start-ups and unicorns; rationalisation of subsidies that promote inefficiencies; and encouraging urban agglomerations by improving the housing and physical infrastructure. Read on...

India Today: Indian economy will take 15 years to overcome Covid losses, says RBI report. Here are the key takeaways.
Author: Aishwarya Paliwal


Mohammad Anas Wahaj | 24 dec 2021

India's handicraft sector is an important part of the economy, both from local consumption and export point of view. According to ibef.org (India Brand Equity Forum) website India has around 7 million artisans as per official estimates, but unofficial figures consider this figure to be huge 200 million. Moreover, there are more than 3000 art forms in which these artisans are engaged in. The website (ibef.org) further provides the following statistics related to Indian handicraft and handloom export (FY21): Woodwares at US$ 845.51 million; Embroidered and crocheted goods at US$ 604.38 million; Art metal wares at US$ 468.66 million; Handprinted textiles and scarves at US$ 339.03 million; Imitation jewellery at US$ 186.65 million; Miscellaneous handicrafts at US$ 826.68 million. Indian government is also providing special push to this sector through various schemes, as described on the handicrafts.nic.in (Development Commissioner Handicrafts, Ministry of Textiles, Govt. of India) website - NATIONAL HANDICRAFTS DEVELOPMENT PROGRAMME - NHDP (Includes Marketing Support and Services; Skill Development in Handicraft Sector; Ambedkar Hastshilp Vikas Yojana [AHVY]; Direct Benefit to Artisans (Welfare); Infrastructure and Technology Support; Research and Development ). COMPERHENSIVE HANDICRAFTS CLUSTER DEVELOPMENT SCHEME (CHCDS) that aims to enhance the insfratructural and production chain at handicraft clusters in India and bring them to global standards. According to Prof. Syed Khalid Hashmi of Millennium Institute of Management, Aurangabad (Market for Indian Handicrafts, Excel Journal of Engineering Technology and Management Science, Dec-Jan 2012), 'The handicrafts sector plays a significant and important role in the country's economy. It provides employment to a vast segment of craft persons in rural and semi urban areas and generates substantial foreign exchange for the country. The handicraft sector has, however, suffered due to its being unorganized, with the additional constraints of lack of education, low capital, and poor exposure to new technologies, absence of market intelligence, and a poor institutional framework...Indian handicraft has great growth potential in the changing scenario with its basic strength being the abundant and cheap availability of manpower and being a traditional profession of millions still requires very low investment compared with other countries barring China.' A new book, 'Crafting a Future: Stories of Indian Textiles and Sustainable Practices' by Archana Shah, explores the contribution of artisans, designers, NGOs etc to handcrafted textiles sector by focusing on the skills and processes of the creators, and weaves the stories of their accomplishment and success. Ms. Shah is worried about the competition that handcrafted textiles face with tech-powered textile manufacturing and has been working to revive and rejuvenate several craft skills. She is the founder of Ahmedabad's Bandhej (a handcrafted textile fashion brand founded in 1981), and has been collaborating with artisans around the country for the last 40 years to create textiles for urban markets. The book is the result of her interactions with artisans over her long career. She says, 'It is broadly divided into three sections of natural fibres: cotton, a plant-based fibre; silk produced by insects; and wool, obtained from animals. It resonates with Gandhiji's concept of developing khadi and village industries to rejuvenate the rural economy and stimulate development through a bottoms-up approach.' The book addresses two major challenges - unemployment and climate change. Ms. Shah says, 'By making productive use of their time and skills, women and marginalised communities involved in this sector will be empowered, and enjoy a sense of self-worth and dignity. Families will benefit from sustainable livelihoods in their own locations, protecting them from the misery of forced economic migration to urban centres where regular work is difficult to find. The challenge is how to bridge the gap, connect the producers with the markets, create products that are 'Handmade in India' for the local, national and global markets and in the process, make the world a better place for future generations.' Read on...

Deccan Chronicle: Handmade in India
Author: Swati Sharma


Mohammad Anas Wahaj | 21 nov 2021

The book 'Unshackling India: Hard Truths and Clear Choices for Economic Revival' authored by Ajay Chhibber and Salman Anees Soz explores expectations from India's economy in the next 25 years and whether it will become a mature democracy and developed economy by 2047, the hundredth year of its independence. The authors argue that India needs to look ahead to achieve economic prosperity and inclusivity with realistic approaches and new ideas. They say, 'What India needs is an aspirational goal. GDP targets - US$ 5 trillion or even US$ 10 trillion - do not inspire the broader citizenry.' The book consider China a threat and suggests a competitive approach towards it. Also, 'Samriddh aur Sajit Bharat @100' (Prosperous and Inclusive India @100) is a slogan that all political parties should adopt as their motto. For Indian corporations, the book says, 'They should aim to grow at home and abroad instead of looking for tweaks in tariffs and regulations to serve very narrow short-term interests.' Mentioning COVID-19 crisis and government's approach towards it with existing substandard healthcare infrastructure, authors say, 'New lockdowns ensued, guaranteeing a slowdown in economic activity and prospects of further misery for the poorest and most vulnerable sections of society...India has been forced to reset by the COVID-19 crisis. Perhaps that is how India reforms - in response to crises. While COVID-19 may have set us back by several years (or longer), India could convert this into an opportunity to revitalize and structure our economic system for the future.' The crisis also created global economic challenges and India has to manage them effectivcely to pursue its expected growth trajectory. Read on...

Devdiscource: Book takes critical look at Indian economy
Author: NA


Mohammad Anas Wahaj | 23 oct 2021

India's changing socio-economic scenario is urging corporates, entrepreneurs and individuals to focus on solving social problems and creating a positive social impact in lives of those who are at the bottom of the pyramid, a concept that was first propagated by C. K. Prahalad and Stuart L. Hart in their article 'The Fortune at the Bottom of the Pyramid' (Strategy+Business, 2002). It proposed that companies should innovate and also focus on the needs of those at the bottom of the pyramid. By doing so they will not only expand their markets but will also serve the marginalized communites and uplift their socio-economic conditions. According to the article 'Budget 2014: Tapping the aspirational class of India' (Shuchi Bansal; Mint, 11 Jul 2014), while presenting the budget in 2014 Late Mr. Arun Jaitley, the then Finance Minister, referred to aspirational Indians and what he called the 'neo middle class'. He said, 'India unhesitatingly desires to grow...those who have got an opportunity to emerge from the difficult challenges have become aspirational. They now want to be part of the neo middle class.' In the same article, a research study by Quantum Consumer Consulting, finds that 34% of these strata are aged between 10 and 25 years and aspires for a better life. Ravi Narayan, CEO at T-Hub, explains how this aspirational class can be an opportunity for social entrepreneurs to focus on and make a real difference in the innovation ecosystem. He says, 'It is about time social changemakers start tapping into India's aspirational class, who are tomorrow's neo-middle class. Understanding this under-served stratum is key to unlocking the potential of the Indian economy.' He provides examples of organizations from India's impact ecosystem that are making a difference. According to Mr. Narayan, 'India's strong digital infrastructure has been a gamechanger for those who want to leverage the power of technology to create a social impact on a larger scale. The growing smartphone penetration and high-speed internet connectivity in rural areas have empowered social entrepreneurs and innovators to create new models for change to accelerate social impact.' EdTech, AgriTech, healthcare and microcredit finance are critical areas where social entrepreneurs and incubators are offering inclusive and sustainable solutions to ensure the upward mobility of the marginalized class. Mentioning the best practices in social innovation in India's context, Mr. Narayan says, 'Speaking from experience, I am convinced that social innovation in the Indian context is not clearly defined by an evidence-based approach. Perhaps therein lies one of its bigger challenges. Social entrepreneurs working to create an impact on the scale have to contend with operational challenges, such as a lack of market access, besides inadequate investor connect and mentoring opportunities. Also, technologically and in terms of scale, it is difficult to solve problems in this sector as the risk factor is high for social entrepreneurs. Besides, the educated class with its worldview isn't contributing enough to the growth of this sector. Such pain points highlight the need for open innovation to solve India's most complex social problems.' He also says that maximizing inclusion is key and this cannot be attained by merely leveraging technology. There has to be a larger objective of creating a holistic inclusive social impact ecosystem. A fragmented innovation ecosystem cannot thrive in the absence of a comprehensive social innovation policy. He concludes, 'I believe that social innovators - be it individuals, social incubators, governments, corporates, academia, or startups - who put people first will help create new and exciting markets and facilitate a synergistic innovation ecosystem.' Read on...

Entrepreneur: How to Address the Yawning Gap in India's Social Impact Sector
Author: Ravi Narayan


Mohammad Anas Wahaj | 25 aug 2021

India is predominantly an agrarian society with 2/3rd of its population associated with agriculture and related sectors. Moreover, 1/3rd of rural India still lives below poverty line. These statistics points towards an imbalance in rural and urban society and leads to migration by rural population towards cities in search of livelihoods. Long-term well thought out planning and implementation is a necessity to pursue rural development and make rural economy a thriving force to bridge the rural-urban divide and provide opportunities to rural population and enhance their quality of life in rural areas. Some of the steps that would be required to make it a reality would include - (1) Skilled Manpower: Improve availability of educational and vocational skill-based training for rural youth to enhance their employability; Awareness and knowledge about modern agricultural practices to rural population; In addition to education, public health and sanitation, women empowerment, providing better electricity and irrigation, facilities for agriculture extension, research, loans and credit availability, along with skill development for employment, are some of the steps needed in this regard. (2) Aiding Growth: To reduce unplanned migration towards cities it is required to provide opportunities to youth in rural areas. It is necessary to invest time and resources in promoting investment and creating infrastructure for better employment opportunities; Quality of agricultural jobs should be improved and there should be better human resources practices in such jobs to make them attractive for rural youth. (3) Building Opportunities: Entrepreneurship is one concept that should be seriously introduced in rural and agricultural sector to increase opportunities and support growth. It is important to create micro-entrepreneurs and economic clusters in rural India; For rural entrepreneurs to thrive government has to improve rural infrastructure through investments in roads, electricity, irrigation networks, and national cold chain grids in the rural areas; Welfare funding is another area that need to be addressed. But overall the most important thing is to empower rural youth to become entrepreneur and become generator of employment opportunites within the rural setting will be turning point in rural economy leading to sustainable rural development. Read on...

YourStory: How can rural economy contribute to the socio-economic growth of India
Authors: Sanjay Rai Sherpuriya, Suman Singh


Mohammad Anas Wahaj | 29 jan 2021

According to the World Bank's most recent statistics - India's rural population is 66% of the total population (2019); 41% of the total employment is involved in agriculture and farming (2020); Agriculture, forestry, and fishing, value added, contribute 16% to India's GDP (2019). Moreover, Food and Agriculture Organization (FAO) of the United Nations (fao.org) says , 'Agriculture, with its allied sectors, is the largest source of livelihoods in India. 70% of its rural households still depend primarily on agriculture for their livelihood, with 82% of farmers being small and marginal.' Considering these statistics it is evident that India is substantially dependant on agrarian economy. The sector is looking for transition from an inefficient, unorganized and archaic one, that pushes farmers to commit suicide, to more modern with incorporation of technology and scientific methodologies, to make it profitable and sustainable to the agricultural community. The recent protest of the farmers at such a large scale has also brought the need of handling any transformation in the sector with caution and is to be carried out in a peaceful and democratic way by taking into confidence those who are affected the most with any policy change. The need for consultation and understanding is the only way to bring the needed evolution of the agricultural sector and make it thrive. Digitization and varied use of technology is a step that pushes agricultural economy towards this goal. NITI Aayog's report on Artificial Intelligence (AI) says that to maintain annual growth rate of 8-10%, agriculture must grow at 4% or higher. Technologies that can be applied include those on the farming side like sensor-assisted soil assessment, automated monitoring of free-ranging animals on pastures, targeted control of agricultural machinery, use of high quality seeds, optimum and measured use of fertilizers and pesticides, modern farming equipment and methods, scientific approach to agriculture etc, and there are technologies that need to be applied post-production, from farm to the market, like digitization in farm product management, supply chain management, logistics, Mandis and retail selling etc. This will lead to better produce with agri-waste reduction and efficiency in cost optimization. The three most essential elements that would lay the foundation of digitization in agriculture would include - Internet of Things (IoT); Nanotechnology; Digital Education. There are two most important technology related concepts in farming - 'Precision Farming' involves creating new production and management techniques that make intensive and efficient use of data regarding a specific location and crop; 'Smart Farming' or 'Farming 4.0' is the application of information and data technologies for optimising complex farming systems. To implement these concepts at a large scale in India's massive agriculture sector comes up with many challenges that need to be overcome - Digital divide; Lack of farmer literacy; Lack of financial resources particularly in case of small and medium farmers; Interruptions in rural power supply. Even though government and private sector knows the potential of digitization and technological transformation, major challenge is to involve farmers in the process by creating proper awareness and showcasing the benefits of technology-enabled agriculture. Government and private sector have already initiated the various projects in this regard like for example Microsoft has developed an 'AI-Sowing App', in collaboration with International Crops Research Institute for the Semi-arid Tropics (ICRISAT), that sends advisory to the farmers regarding the optimal date of seed-sowing; NITI Aayog has partnered with IBM to develop a crop yield prediction model backed by AI to provide real-time data and communicate the required advisory to farmers; 'Blue River' project has designed and integrated computer vision with machine learning technology that will help cultivators to reduce the use of fertilisers and herbicides by spraying only where and when needed. Government projects in digitization include - Kisan Suvidha, Pusa Krishi, Farm-o-pedia App, Crop Insurance Android App, Agri-Market, M-Kisan Application, Shetkari Masik Android App etc. Read on...

Businessworld: Digitisation In Agriculture: A Necessity For India
Author: Urvi Shrivastav


Mohammad Anas Wahaj | 27 nov 2020

According to the latest report by Oxford Economics, India will be worst-affected among the world's major economies even after the pandemic lessens, with output 12% below pre-virus levels through the middle of the decade. Priyanka Kishore, head of economics for South Asia and South-East Asia at Oxford Economics, says, 'It's likely that headwinds already hampering growth prior to 2020 - such as stressed corporate balance sheets, elevated non-performing assets of banks, the fallout in non-bank financial companies, and labor market weakness - will worsen.' Ms. Kishore projects potential growth for India at 4.5% over the next five years, lower than 6.5% before the virus. A recently published paper by Reserve Bank of India predicted Asia's third-largest economy has entered a historic technical recession. The International Monetary Fund predicts GDP will shrink 10.3% in the year to March 2021. Ms. Kishore further adds, 'All supply-side factors feel the effect, with only human capital's contribution unchanged from the pre-virus baseline. Capital accumulation takes the biggest hit because we expect balance-sheet stresses to worsen following the crisis, lengthening the investment recovery cycle.' Read on...

ThePrint: Indian economy will struggle even after Covid, grow at 4.5% until 2025 - Oxford Economics
Author: Anirban Nag


Mohammad Anas Wahaj | 13 jun 2020

India's agriculture should scale up to the next level in terms of empowerment to farmers, enhanced supply chain and logistics networks, advanced technological usage, superior quality of produce and global competitiveness. Recent announcement of reforms by the Finance Minister of India, Nirmala Sitaraman, focusing on amendment in the Agricultural Produce Marketing Committee (APMC) Act, the Essential Commodities Act, and facilitating contract farming through price and quality assurance, has drawn a positive response from Ashok Gulati, former chairman of Commission for Agricultural Costs and Prices, who termed it as 'A 1991 moment for Indian agriculture.' M. R. Subramani, executive editor of SwarajyaMag, explains the present focus and what more is required for India's agriculture to revolutionalize itself and move into an era of overall success. He points out three areas - (1) Food Stocks: Going beyond fulfilling domestic demand; Food Corporation of India (FCI) show that current foodgrain stocks in the country are nearly three times the mandated operational and reserve storage norms; Indian agriculture should look more closely at consumers' interests, export markets and making optimum use of its human resources; Focus on producing healthy foods like diabetic-friendly varieties etc; Encouraging the production of coarse grains such as ragi, maize, bajra and sorghum will help farmers diversify and getter higher returns. (2) Focus on Inputs: Focus has been on the input side of agriculture such as seeds, pesticides and insecticides only and most subsidies are directed here; Efforts should focus on the output side of agriculture such as marketing and meeting consumer needs; Change in farmer's mindset is needed to think beyond just selling their produce only to meet their next crop's input costs and keeping a portion for personal consumption; To keep next generations engaged in farming new methods and processes are to be introduced for increased productivity and profitability. (3) Minimum Support Price (MSP) System: Indian MSP policy is under the scrutiny of the World Trade Organisation (WTO) for distorting markets and is supposedly flawed as it does not reward productivity; Incentivise foodgrain production by rewarding farmers producing more per hectare, and this is necessary particularly when the outlook shifts towards meeting the consumer or export market demand, in addition to staying self-sufficient. Read on...

The Hindu: India needs a paradigm shift in agriculture
Author: M. R. Subramani


Mohammad Anas Wahaj | 09 mar 2020

Empowering women and girls in rural India is a necessity that can't be ignored. Initiative taken by Gurdev Kaur Deol of Ludhiana (Punjab, India) is trying to achieve it by a self-help group (SHG). She is marketing their produce through Farmer Producer Organisations (FPOs) and making them self-reliant with sizeable income. There are other nonprofits that are transforming lives of women and their families by engaging in various ways. Ms. Kaur says, 'Initially, I formed SHGs involving 15 rural women...Later, I made 'Global Self-Help Group FPO' which is now engaged in production, manufacturing, processing and marketing of food processing items such as pickles, squash, honey besides staples. Currently, we have 300 farmers with 50% of them being women.' Deepika Sindhwani, president of NGO Mahila Kalyan Samiti, says, 'These rural women are talented and need guidance. We have formed 350 SHGs...We have imparted them training in phulkari, jute bags and food processing.' National Bank for Agriculture and Rural Development (NABARD) is also assisting through SHG Bank Linkage Programme by providing credit, skills and micro entrepreneurship development training. J. P. S. Bindra of NABARD says, 'During the past one decade, we have also started forming Farmer Producer Organisations (FPOs) to increase farmers' income. A few of our FPOs have successful women farmers.' Read on...

The Tribune: Self-help groups empowering rural women in Punjab
Author: Vijay C. Roy


Mohammad Anas Wahaj | 25 dec 2019

Social enterprises can become an important pillar of Indian economy just like corporations and businesses. India has more than two million social enterprises that include nonprofits, for-profits and hybrid models. According to a McKinsey study, 'impact investors' in India poured a total of US$ 5.2 billion between 2010 and 2016, with substantial focus on sectors like financial inclusion and clean energy. A survey conducted by Brookings India found that 57% of the social enterprises identify access to debt and equity as a barrier to growth and sustainability. In the budget Indian government proposed a social stock exchange (SSE) to list social enterprises and voluntary organisations. Suresh K. Krishna, MD and CEO, and Geet Kalra, portfolio associate, at Yunus Social Business Fund, explain what benefits this social stock exchange will bring to the social enterprise ecosystem and suggest that careful planning is needed in designing it. They explain, 'SEBI (Securities and Exchange Board of India) set up its working committee on SSEs on September 19, however, many experts have already proposed distilling learnings from those of other countries. Some of these exchanges are either information sites, like in the case of the London Stock Exchange, or list nonprofit projects only. Canada's Social Venture Connexion (SVC) and Singapore's Impact Investment exchange are more advanced in terms of accreditation, valuation and monitoring, whereas the Brazilian model didn't use such valuations at all. While formulating a similar product for India, we need to have an extensive as well as 'cautious' approach. There is no consensus in the wider social impact community about what is and isn't a social enterprise, therefore the definition itself first needs more objectivity...Once we have a shared frame of reference in place, we can design impact valuation parameters for social enterprises based on social and environmental mission, target beneficiaries, service delivery, stakeholder involvement, and impact measurement.' SSE listing will provide visibility to social enterprises and assist in attracting funds in the form of private equity and debt. Listing debt products on the SSE would encourage banks, NBFCs (Non-Banking Financial Company) and other investors to participate in the growth of social enterprises and enhancing their impact. Moreover, SSE impact valuation will encourage development of more innovative financial products. SME exchanges operated by BSE and NSE can also provide valuable learning in effectively designing SSE. Mr. Krishna and Mr. Kalra suggest, 'For a social stock exchange to meet its intended objectives, we need to take measures such as: educating market participants about the valuation metrics weighing both on social and financial returns; amplifying the efforts of creating and supporting social businesses; bringing policy and regulatory reforms to support investors, and facilitating research and development for small social enterprises.' Read on...

The Hindu: A social stock exchange will help in raising capital
Authors: Suresh K. Krishna, Geet Kalra


Mohammad Anas Wahaj | 08 oct 2019

Agriculture is one of the critical sectors of Indian economy as it employs about 50% of the working population and contributes 15-16% to GDP. Even though government policies are designed to make the sector benficial for those engaged in it, but the media is full of news describing the ailing condition of India's agriculture at the ground. Can entrepreneurs, full of ideas and working zeal, coupled with effectiveness and efficiencies of technology, become harbingers of change and transform the condition of not only the farms and their produce, but also the farmers and all other hard working people employed in the sector. Abhishek Agarwal, co-founder of TechnifyBiz, suggests that agri-tech entrepreneurs can tackle some of the problems of Indian agriculture and help grow the sector. He cites following issues - Depleted ground-water, low-quality seeds and ravaged soil quality due to over-use of chemicals; Lack of market linkage creates a considerable gap in the industry; Inadeguate transporation and storage; Scarcity of credit and high lending rates. He suggests that agri-startups can assist in standardization of agri-market practices through technology, aggregation and organized marketing. According to NASSCOM, sector had secured a funding of US$ 73 million in 2018. The agri-tech industry has been able to raise financing of over US$ 248 million till June 2019. Accenture says that digital agricultural services market is set to touch US$ 4.55 billion by 2020. Mr. Agarwal explains, 'Market linkage, farmer markets in the digital space, superior database management, digital agriculture and micro-financing are gaining in popularity, making the sector conducive to attract funding.' Agri-startups are encompassing both the production and after-harvest side of agriculture. He says, 'The various areas of improvement, like the reduction of input costs, better nutritional value in food crops, better quality seeds that drive crop production and improving soil quality. Using technology to predict weather patterns, irrigation cycles and soil quality are the focus of some startups. This enhances the quality of production...The use of smart technology and superior logistics infrastructure has created a new eco-system of agri-marketing. New-age startups are leveraging technology to tap the retail as well as B2B marketplaces through digital agronomy startups.' Read on...

India Today: Agri-tech: The emerging field for an Indian entrepreneur to grab more opportunities
Author: Abhishek Agarwal


Mohammad Anas Wahaj | 22 sep 2019

Project-based work is resulting in the rise of flexi or contractual staff hiring in India, partcularly in the IT-ITeS (Information Technology and IT-enabled Services) industry. According to the Talent Radar 2019 report by Infosys, the top 5 technical skills in demand for digital projects are - analytics, user experience, automation, IT architecture and artificial intelligence. Indian Staffing Federation (ISF) says that IT-ITeS sector tops flexi-staff adoption with around 12 out of every 100 employees being contractual or flexi staff and, this workforces is expected to grow to 720000 by 2021 from 500000 in 2018. Pankaj Khanna, VP of talent acquisition at Mindtree, says, 'The first advantage of flexi hiring is that demand can be fulfilled faster...Secondly, for requirements that are short term, it makes business sense to leverage the subcontracting/flexi hiring models without increasing the headcount.' U. B. Pravin Rao, COO of Infosys, says, 'As enterprises progress in their digital journeys, the winners will be those who utilize multiple hiring sources and reskill workers in a culture of lifelong learning.' According to Broadband India Forum, the IoT and AI-based applications will create over 2.8 million jobs in rural India over the next 8-10 years generating Rs. 60000 crore every year. Rituparna Chakraborty, President of ISF and co-founder of Teamlease, says, 'With emerging technologies such as AI and big data, new skill requirements are in demand. Flexi staffing is a solution to find out the right skills, based on project requirement.' Sivaram S., engagement manager at Zinnov, says, 'The focus on flexi-staffing is to quickly deploy talent for new-age areas such as AI, Machine Learning, and IoT, and drive velocity/agility in transformative engagements. It can be viewed as a means to augment existing digital engineering workforce in an organization, as there are challenges associated with hiring for specific skillsets.' Siddharth Pai, IT consultant and venture capitalist, says, 'The reason for the proliferation of project-based work, as opposed to long-term contracts is the global slowdown that is leading companies to hire for one-off projects so that they can easily let people off when there is no requirement.' According to Nomura Research, subcontractors are typically 15-20% (more) expensive than employees and are a margin headwind going into FY20F. Apurva Prasad, Research Analyst (IT) at HDFC Securities, says, 'Increase in sub-contracting resulted from a combination of surge in demand and staffing challenges on account of tech supply crunch.' Read on...

Livemint: Increase in flexi-staff hiring may eat into IT industry's margins
Author: Ayushman Baruah


Mohammad Anas Wahaj | 22 jul 2019

Even though India has achieved success consistently in agriculture sector through policy and reforms, but there is still a lot to be desired. Farmer suicides and droughts become headline news from time to time. Ken Ash, Director of Trade & Agriculture at OECD (Organisation for Economic Co-operation and Development), and Silvia Sorescu, Policy Analyst at OECD, provides an overview of India's state of agriculture and what needs to be done to tap opportunities. According to them, many smallholders have not been able to exploit the opportunities opening up to them; they remain hampered by low productivity, an under-developed food processing and retail sector, and water and environmental degradation. They explain that India faces 'triple challenge' in the agricultural sector similar to other countries - delivering safe and nutritious food to a growing population at affordable prices; providing a livelihood for farmers and others in the food chain; and overcoming severe resource and climate pressures. According to the OECD and the Indian Council for Research on International Economic Relations (ICRIER) report in the Agricultural Policies in India 2018 study and the 2019 OECD Agricultural Policy Monitoring and Evaluation, India's domestic and trade policies (like restrictions due to agri-marketing regulations, export restrictions, huge farm subsidies for farm inputs etc) have combined to reduce Indian farm revenue by an estimated 5.7% in the past three years. Moreover, funding for public services - such as physical infrastructure, inspection, research & development, and education and skills - that are essential to enable the long-term productivity and sustainability of the sector has not kept pace. India can draw lessons from Ashok Gulati's analysis of farm policy developments in China, and also from EU's (European Union) agricultural policy reform experiences. Persistence is critical for the success in the sector. Electronic National Agricultural Market (eNAM), the 2017 marketing model act, and the recently implemented direct cash transfers scheme to small-scale farmers, are steps in the right direction. Authors suggest, 'Scarce financial resources should be directed towards investment in public services that enable a productive, sustainable, and resilient food and agriculture sector. Doing so would require strengthening the institutional framework; eliminating duplication and fragmentation is a pre-requisite to ensuring coherent policy packages are developed and consistently implemented. Achieving the Sustainable Development Goals and addressing the 'triple challenge' will require new policy directions in India, as elsewhere.' Read on...

Financial Express: Opportunity knocks for Indian agriculture
Authors: Ken Ash, Silvia Sorescu


Mohammad Anas Wahaj | 30 jun 2019

According to 'Annual Status of Education Report (Aser) 2017' by nonprofit Pratham, about 42% of rural youth between the ages of 14 and 18 were employed in January 2018, despite going to school. Among these, 79% were working in agriculture, while at the same time only 1.2% of the youth surveyed wanted to become farmers. India's rural population residing in about 600000 villages has not benefited substantially from economic growth and opportunities are limited, resulting in large migration of youth to urban areas in search for greener pastures. But, they are not well equipped in terms of education and skills, to compete in a challenging urban environment to avail better opportunities and respectable lifestyle. Education, coupled with skill development, is the key to bring them at par with their urban counterparts. Ashweetha Shetty, founder of Bodhi Tree Foundation, is trying to bridge this rural-urban divide by building confidence and self-esteem among young people living in rural areas. Explaining the work of her nonprofit, Ms. Shetty says, 'Our foundation works with rural youth between the ages of 17 and 23. We help them build life skills and enlighten them about opportunities. We achieve all this through intervention at our village centers. We have a residential program for girls, and we also work with district administrations on initiatives, particularly those which concern the children of sanitation workers. Most of the rural youth we help are usually first generation college goers. Bodhi Tree helps them to think about their future. These young kids have many inferiority complexes, and there is an information gap. We are trying to bridge that through our organization.' Regarding the life skills that her organization is trying to build, she says, 'We do self-development, self-awareness workshops, and provide exposure to opportunities - we help the children to discover what they want to do in life and understand their strengths and weaknesses. We enable them to develop themselves through public speaking and other skills. We also conduct workshops on resumé writing to help them achieve their goal.' Differentiating her nonprofit from skill building organizations, she says, 'Bodhi Tree is completely different from skill building organizations. We don't want to build a skill in someone and send the message that it's the only thing they can do. Skill building programs have no progression, no scope for dreaming. I feel it robs opportunities from the children. Children should have access to government jobs, schemes, internships - they should have knowledge and know what to do with it. I think that's the difference between us and skill building initiatives. Maybe our model is not working that well because we are not focused on one skill, but I think this is a conscious choice we have made where we don't tell people about what skills they can inculcate. Rather, we tell them what kind of dreams you should have, we make people realize their potential. For us, the immediate impact is more like standing up for yourself and going to college.' Read on...

Fair Observer: Helping India's Rural Youth Unlock Their Potential
Authors: Ankita Mukhopadhyay, Ashweetha Shetty


Mohammad Anas Wahaj | 09 apr 2019

According to the recent report 'India Digital Ad-fraud Market 2018' by techARC, the total size of digital ad-fraud in India stood at staggering US$ 1.63 Billion, which is 8.7% of the global size. The report projects 23% increase in digital ad-fraud in 2019. Digital Commerce contributed more than half 51% of the total ad-fraud in India. While, Leisure & Travel (26%), Entertainment & Gaming (13%), Banking & Finance (8%), Healthcare & Pharma (1%) and Others (1%). Although, App Fraud contributes to over 85% of the total digital ad-fraud, the organizations should not ignore the web platforms. Web platforms are more susceptible to frauds as in several organizations the digital teams are primarily focusing on the app, leaving the web space vulnerable. As video is increasingly becoming the preferred medium of content, it is also attracting fraudsters to exploit this advertising channel. The report finds that businesses who have an ad-fraud solution in place are better equipped to have higher levels of customer engagements. Faisal Kawoosa, Founder & Chief Analyst at techARC, says, 'Digital ad-fraud is getting increased attention from the C-level leadership of evolved organisations, where it is no longer an agenda of a CDO or CMO. The impact of digital ad-fraud now goes beyond diminishing the returns on marketing spends and can jeopardize the entire digital transformation journey hampering Brand Equity, Relevance and Positioning among other ramifications.' Read on...

techARC: At $1.63 Billion, India's share in global digital ad-fraud stood at 8.7% in 2018
Author: NA


Mohammad Anas Wahaj | 07 apr 2019

Biotechnology is expected to be the next big thing for the Indian economy, just like the IT industry has been, explains Amit Kapoor, President & CEO of India Council on Competitiveness and Honorary Chairman at Institute for Competitiveness. According to him, '...biotechnology industry seemed poised to take over the mantle. In the span of a decade beginning in 2007, the industry has grown exponentially in size from about US$ 2 billion to over US$ 11 billion in terms of revenue. By 2025, it is targeted to touch US$ 100 billion.' In the past, both Green Revolution (agricultural transformation) and White Revolution (dairy sector transformation) became successful because of the contributions from biotechnology. At present India's rising competitiveness in pharmaceuticals is also the result of biotechnological advancements and research. Moreover, energy needs of rural areas are also met by biomass fuel, produced through application of biotechnology. Mr. Kapoor explains evolution of biotechnology in India, 'As early as 1986, Rajiv Gandhi, recognising the potential of biotechnology in the country's development, set up the Department of Biotechnology...Department of Biotechnology has set up 17 Centres of Excellence at higher education institutions across the country and has supported the establishment of eight biotechnology parks across different cities...Biotechnology Industry Research Assistance Council (BIRAC) in 2012, which has successfully supported 316 start-ups in its six years of existence...As of 2016, India had over a thousand biotechnology start-ups.' According to Mr. Kapoor, the sector faces many challenges and they need to be addressed effectively and promptly - (1) India's research and development expenditure is quite low at 0.67% of GDP, not only compared to mature biotechnology economies such as Japan and the US (around 3%) but also in comparison to emerging economies like China (around 2%). (2) Specific to the biotech pharmaceutical sector, there are a few India-specific challenges with the country's IP regime. There are two main areas of contention for the industry in India's approach to intellectual property. The first issue lies in Section 3(d) of the Patents (Amendment) Act, 2005, which sets a higher standard for patentability than mandated by TRIPS. The industry argues that India's stricter standards for patents discourages innovation and dampens foreign investment. The second issue is that of compulsory licensing, which gives the government power to suspend a patent in times of health emergencies. Although India has used this option only once, the industry feels that such regulations keep investors clear of Indian markets. (3) Another challenge lies in the risk involved in the Valley of Death, that is, the risk of failure in the transition of innovative products and services from discovery to marketisation. Most of the early research funding, often provided by universities or the government, runs out before the marketisation phase, the funding for which is mostly provided by venture capitalists. It becomes difficult to attract further capital between these two stages because a developing technology may seem promising, but it is often too early to validate its commercial potential. This gap has a huge impact in commercialisation of innovative ideas. Read on...

The Economic Times: Why biotechnology can be Indian economy's next success story
Author: Amit Kapoor


Mohammad Anas Wahaj | 06 apr 2019

India is a diverse economy with a large population size. The availability of correct data is a challenge. But there are reliable and free sources that contain datasets and data visualisations of the Indian economic scenario that can be utilized by data scientists - (1) NITI Aayog (Salary Expenditure): It is part of data.gov.in website. An expense or expenditure made to the employees for their work in terms of salary is known as Salary expenditure. It is an outflow of money from the Government for different services. The Data contains Actual, Pre-actual and Budgeted Expenditure for Salary expenditure, total expenditure, Revenue Expenditure, Salary expenditure as percentage of revenue expenditure (net of IP & Pension) and Salary expenditure as percentage of total expenditure of states & union territories. (2) Open Budgets India (openbudgetsindia.org): The portal provides budget information of different tiers of government in India (Union Budget, State Budgets, and Budgets of several Municipal Corporations across the country) in accessible and open (non-proprietary) formats. The four major features of the portal, as of now (in the beta version), are - Budget documents (i.e. the original PDF documents); Machine Readable Datasets (for those budget documents, where it was technically feasible to prepare machine readable datasets); Visualizations (or infographics) generated from the machine readable datasets; and Budget basics (for greater familiarity with budget concepts, processes and documents). The portal includes twelve broad sectors that represent Union and State Budget expenditure on both Economic Services and Social Services. It has 10.6k datasets from 509 budget sources. (3) Ministry Of Statistics (Indian Income Tax): It is part of data.gov.in website. The data refers to details on receipts under income tax from 2000-01 to 2011-12 in head of account such as Minor Head-Other Receipts, Minor Head-Surcharge, Penalties, Interest Recoveries, Primary Education Cess, Secondary and Higher Education Cess. (4) NITI Aayog (Manufacturing GDP): It is part of data.gov.in website. The data refers to information on contribution to manufacturing GDP in the 11th Five-Year Plan and employment in 2009-10 in different segments of the manufacturing sector. It projects employment in 2016-17 and 2024-25 in different segments of manufacturing in two different scenarios. (5) Ministry Of Finance (Statistical Appendix): It is part of the Economic Survey. Website is mofapp.nic.in:8080/economicsurvey. Includes Economic Survey 2017-18 and previous ones. The Statistical Appendix has following sections along with their sub-sections - National Income and Production; Budgetary Transactions; Employment; Monetary Trends; Prices; Balance of Payments; Foreign Trade; External Assistance; Human Development Indicators. Data files can be downloaded in Excel and PDF formats. (6) Ministry of Finance - Department Of Economic Affairs (Trade Balance Of India): It is part of data.gov.in website. The trade balance is the difference between the monetary value of exports and imports of output in an economy. It is one of the most important macroeconomic parameter. Data contains Exports, Imports and Trade Balance of India (in Rs Crore and US$ Million) from 1949-50. It also contains the percentage rate of change of exports as well as imports with respect to the previous year. The data has been provided by Department of Economic Affairs. (7) The World Bank (data.worldbank.org/country/india): Includes time series data on variety of topics like GDP, Population, School Enrolment, CO2 Emissions etc. DataBank is an analysis and visualization tool. (8) IMF DATA (data.imf.org): It provides access to macroeconomic and financial data. Asia and Pacific Regional Economic Outlook (APDREO) provides information on recent economic developments and prospects for countries in Asia and Pacific. India is included in this region. Read on...

Analytics India Magazine: 8 Free Resources On Indian Economy You Can Use For Your Data Science Projects
Author: Ram Sagar


Mohammad Anas Wahaj | 31 dec 2018

In India there are central government run healthcare institutions, public state run institutions and private medical colleges that provide modern healthcare education mainly the four year degree MBBS and after that post-graduate degrees of MS and MD. India also have a number of institutions that provide degrees in other healthcare systems like Ayurveda (BAMS), Unani-Greek (BUMS), Homoeopathy (BHMS), Naturopathy etc. Moreover, there are vocational training institutes that provide skills and courses to develop other medical staff like nurses, health assistants etc. There are also corporate run and other private medical colleges and universities and training institutes. India's healthcare facilities are generally concentrated in urban areas while rural areas are generally served by public hospitals and centers. Private clinics are also present in both rural and urban areas. They are generally run by a single doctor or doctor couple and provide basic healthcare. Diagnostic centers are spread all over due to technological advancements and compact and affordable equipments. Healthcare has major disparities between urban and rural areas when it comes to healthcare access. Healthcare has become one of India's largest sectors - both in terms of revenue and employment. The industry comprises public and private hospitals, pharmaceutical companies, pathology and diagnostics, medical devices industry, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The public sector constitutes primary health centers, central research centers and hospitals, state-run research institutes and hospitals etc. The private sector provides majority of secondary, tertiary and quaternary care institutions with a major concentration in metros, tier-I and tier-II cities. According to National Family Health Survey-3, the private medical sector remains the primary source of health care for 70% of households in urban areas and 63% of households in rural areas. Rise of technology is creating new business models in the healthcare industry. Healthcare through smart phones and fitness trackers is new trend. Information technology is automating and streamlining various healthcare processes. Big data is creating new ways of improving healthcare delivery. Startups in India are promising to provide best healthcare at affordable cost more effectively. Latest healthcare equipment is not only imported but also manufactured in India. Digital technologies are enhancing every aspect of healthcare. Technology solutions are able to modernise current medical practices, reduce costs, eliminate any duplication of tests as well as streamline processes and update medical records in real time. Modern technology has great potential to increase access of healthcare services in rural communities, especially the ones where there is serious shortage of doctors. India has demonstrated since long a commitment to offer comprehensive healthcare to all citizens. This has been reaffirmed in the 12th Five-year Plan, National Health Assurance Mission, and more recently through Ayushman Bharat Program. However, the challenges remain and this goal has not been achieved as of yet. There are two critical components of successful healthcare systems. One is the financial aspects whereby citizens are protected against any eventuality and don't get into penury due to health spending. Second is the provision and delivery of healthcare services. It is imperative to ensure that healthcare infrastructure is sufficiently equipped to provide effective healthcare when needed by its citizens. Technology, public-private partnerships, access and affordability are the critical component in the future of India's healthcare. Better healthcare with policy, financial and physical framework will bring long-term benefits to the nation. Develop effective mechanisms to improve general health, and disease prevention strategies through campaigns, advocacy etc. To make India's citizens more aware about their health, inculcate better sanitization and cleanliness habits will help to improve overall health of India. Prevention before cure becomes the key for the country with the size and demographic profile like India. Health aware citizens, trained, sensitive and caring medical staff, cutting edge technologies and modern infrastructure, are the golden elements for a healthy future of India. Read on...

ilmeps/read: Healthcare in India: An Overview (Part 2)
Author: Mohammad Anas Wahaj


Mohammad Anas Wahaj | 24 nov 2018

There are many sides to India's agriculture story. But, what we often hear is the sad one of farmer poverty and suicides. Although many challenges remain including that of humanitarian crises of farmer suicides, but Indian agriculture is going through many positive transformations. According to recent data, tractors sales ended the last fiscal year with a growth of 22% due to good monsoon and strong rural demand. Improvements in road connectivity has boosted tractor sales even in the remote parts of Jharkhand, Telangana, Haryana and other states. The Bloomberg Indian rural economy indices provide a steady upward movement in rural output growth. Two-wheeler sales, a positive indicator of rural growth, have also picked up in recent months. Moreover, there are other visible innovative aspects of Indian agriculture that are good news. India is one of the biggest agrarian economies and even though it lacks in productivity but with 30% of world's organic farmers it is the largest organic farming country. People like Subhash Palekar, who preaches 'zero budget spiritual farming', or farming using only natural and low-cost fertilisers and techniques, are bringing the much needed change. His work has had an impact on 400000 farmers in Maharashtra and adjoining states. Top Indian restaurants and chefs now promote black rice and brown rice grown in India. Customers are also willing to pay a premium for organic produce, thus encouraging cropping up of startups and entrepreneurial ventures in organic farming space. Sikkim has recetly won a prestigious United Nations award for its status as an organic food-only destination. There are also innovations happening in dairy sector with startups putting the certain regions into limelight. India remains as one of the top milk producing countries in the world. Indian agri-tech startups have grown to such an extent that they now have their own exlusive expo that promotes diverse innovations like new pumping techniques, soil testing and management systems, and raw food supply chain breakthroughs. Read on...

Fortune: How to join the dots of growth in Indian agriculture
Author: Hindol Sengupta


Mohammad Anas Wahaj | 15 sep 2018

India's large size with huge population (1.25 billion), substantial part of which resides in rural and underdeveloped regions, brings both challenges and opportunities for implementing healthcare policies and initiatives, both public and private. Over the years ineffective implementation of such initiatives at various levels, has created lopsided infrastructure and uneven development in healthcare. Indian health system also lacks effective payment mechanism and has a high out-of-pocket expenditure (roughly 70%). Adverse health events (health shocks) have considerable impact on India's overall poverty figures, adding about seven percentage points. Health is associated with the overall wellness of the citizens. Good health reflects on the productivity and growth of the nation. More so in the case of India as substantial population is young. India has more than 50% (about 662 million) of its population below the age of 25 and more than 65% below the age of 35. By 2020, the average age of India's population is expected to be 29 years. Aging of this large population will happen at the same time. Having adequate infrastructure is key to avoid a massive health catastrophe for this elderly population in future. Health is also a key issue in the public policy sphere. In the public policy context healthcare issues are often related to accessibility, affordability, socio-economic disparities, healthcare delivery mechanisms, illness and diseases and their impact on society etc. India have a conceptual universal health care system run by the constituent states and union territories. The biggest challenge is to make it accessible and affordable for the overall population. Read on...

ilmeps/read: Healthcare in India: An Overview (Part 1)
Author: Mohammad Anas Wahaj


Mohammad Anas Wahaj | 26 aug 2018

According to meteorologists, the recent flooding in southwestern state of Kerala in India has occured due to two-and-a-half times the normal monsoon rains. Climate scientists caution that if the global warming continues unabated more unusual weather events will happen. Roxy Mathew Koll, a climate scientist at the Indian Institute of Tropical Meteorology, says, 'It is difficult to attribute any single extreme weather event - such as the Kerala flooding - to climate change. At the same time, our recent research shows a three-fold increase in widespread extreme rains during 1950-2017, leading to large-scale flooding.' According to the study published in Nature last year that Mr. Koll co-authored, flooding caused by heavy monsoons rainfall claimed 69000 lives and left 17 million people without homes over the same period across India. Kira Vinke, a scientist at the Potsdam Institute for Climate Impact Research (Germany), says, 'These floods that we are seeing in Kerala right now are basically in line with climate projections. If we continue with current levels of emissions - which is not unlikely - we will have unmanageable risks.' Mr. Koll explains the weather patterns behind the excessive rains, 'Rapid warming in the Arabian Sea and nearby landmass causes monsoon winds to fluctuate and intensify for short spans of three-to-four days. During those periods, moisture from the Arabian Sea is dumped inland.' Elena Surovyatkina, a professor at the Russian Academy of Sciences and monsoon expert, says, 'Over the last decade, due to climate change, the overheating of landmass leads to the intensification of monsoon rainfalls in central and southern India.' According to a World Bank report titled 'South Asia's Hotspots', 'On current trends, India's average annual temperatures are set to rise 1.5 degree Celsius to 3 degree Celsius compared to that benchmark by mid-century. If no corrective measures are taken, changing rainfall patterns and rising temperatures will cost India 2.8% of its GDP and will drag down living standards of half its population by 2050.' Ms. Vinke says, 'What we will see with climate change in India is that the wet season is going to be wetter and the dry season drier. Already we are observing that the monsoon is becoming harder to predict with traditional methods.' A recent research predicted, 'If man-made carbon emissions continue unabated, some regions in northeast India could literally become unlivable by the end of the century due to a deadly combination of heat and humidity during heatwaves.' Read on...

The Economic Times: India's devastating rains match climate change forecasts
Author: NA

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