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- 11 years after creating ‘League of Legends,’ Riot is making a new game
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- #8: 1986 Topps Garbage Pail Kids Series 3 Half Set of 44 Sticker Cards
- India on very good wicket on privacy, says Nilekani
- Govt power push, shift in energy mix can be a good theme to play
- Happy Diwali for PM: New data offers short reprieve
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| 11 years after creating ‘League of Legends,’ Riot is making a new game Posted: 14 Oct 2017 01:21 AM PDT
Source: engadget |
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| India on very good wicket on privacy, says Nilekani Posted: 14 Oct 2017 01:12 AM PDT WASHINGTON: India is on a “very good wicket” on privacy in this age of digital technology, artitect of the Aadhaar scheme Nandan Nilekani has said, expressing confidence that the government’s unique-identity number plan would be able to successfully pass the test of privacy. Aadhaar card scheme, which has enrolled more than 1 billion people, was launched by the previous UPA government, and has been supported by the current government. Addressing an audience at an event organised by the Center for Global Development on the sidelines of the annual meeting of the International Monetary Fund and the World Bank, Nilekani said, “I think India is on a very good wicket on privacy”. Thanks to Aadhaar many activists went to the Supreme Court and they claimed that it was a privacy violation, said the 62-year-old non-executive chairman of Infosys — India’s second largest software services firm. That challenge by activists, he said, led to even more existential question in India is privacy a fundamental right at all. The question went to a nine-judge Supreme Court bench and they gave “what I call one of the best judgements” in the Supreme Court history, he said, responding to a question on privacy and Aadhaar card. “And they (judges) said, yes privacy is a fundamental right. However, the state can circumscribe that privacy for specific social goals,” he said, adding that they identified national security, prevention of crime prevention, protection of revenue and social welfare benefits as the four reasons. Nilekani said that the judges said that circumscribing of privacy has to be based on three things. It has to be based on a law. It has to be based on the test of proportionality and reasonableness. “The court laid down an excellent framework. And at the same time they said that technology and digital technology are key enablers for social progress and innovation, the architect of Aadhar card said,” he said. Now that the judges have laid a framework, there would be a second bench of the court, which will test whether Aadhaar meets that framework. “We’re very confident that it will,” Nilekani said. Responding to a question, Nilekani said that from a policy perspective “it has to be clear” that nobody should be denied an entitlement due to lack of access to technology. A good system would obviously have the ability to save if there’s no connectivity or environment does not work, one should give the overriding capability to the service provider. So, it is important to make sure that technology does not come as a hurdle in providing benefits to people. A combination of well-designed override with fraud analytics can solve these issues. “As people learn the system, they are going to do that,” he said. According to Nilekani, there are many challenges that require a platform thinking as a public good. “It’s important that we recognise that such a category exists. If a particular service or product is offered through a commercial platform that’s great. Nobody’s saying no to that but there is a problem that only can be solved with societal platform for the public good. That is unavoidable,” he said. Societal platforms, he said, is not about excluding market participants. Societal platforms, he argued, creates the level playing field and then market participants can operate on that. It’s entirely possible that the entire digital payments that are provided by a combination of public financial institutions and private banks. But the societal platform provides the rules of the game, he said. That is the role of society and government to provide the rules of the game. “That’s what this is all about. So think of this as one more way of enforcing the rules of the game,” Nilekani said. |
| Govt power push, shift in energy mix can be a good theme to play Posted: 14 Oct 2017 12:47 AM PDT By DK Agarwal For a country like India, assured and affordable supply of energy is the prime prerequisite for achieving economic growth and the Government of India has been supportive to growth in the power sector. The Indian power sector is witnessing a major transformation in respect of demand growth, energy mix and market operations. The industry has indeed taken rapid strides during the past three years and the process or reforms continue unabated. The largest contributor in India's power reforms story is the government's Ujwal DISCOM Assurance Yojana (UDAY). Power distribution companies in states, which participated in the UDAY scheme, have saved Rs 15,000 crore till March 2017. If data is to be believed within three years, India's total power capacity has increased by nearly one third from 243GW in March 2014 to 320 GW in March 2017. With various reform measures introduced by the government and evolving socio-economic conditions, the power sector has been currently going through a major transformation. Even the supply of coal to power utilities has also increased by 20.6 percent to 35.1 MT in September 2017 against 29 MT in the same month 2016. The rise in power demand led to a 17 per cent year-on-year increase in coal-based generation in August, and the same trend has continued in September. If we compare the data of domestic demand of electricity with the coal production, it can be seen that in the month of May 2017, coal production has increased to 51.38mn tonnes as compared to April 2017, a change of 8.5 per cent marked. And if we compare it with the electricity index demand of utilities, the data shows that there is an increment of 5.39 per cent. This reveals the fact that utilization rates are increasing and so as the production of coal. India is the world’s third largest energy consumer and Coal will continue to be a dominant commercial fuel from now and beyond for India’s power sector, given the vast domestic feedstock available to power generators. Going forward, an improvement in the policy environment and infrastructure spend coupled with manufacturing activities is expected to continue aiding in reviving the demand environment for the power sector. It could be seen that the success of the Modi government of coal block auctions has benefited the country in a big way. If the coal sector picks up, the performance of power and infrastructure will pick up and it will have a multiplier effect on the economy. |
| Happy Diwali for PM: New data offers short reprieve Posted: 14 Oct 2017 12:42 AM PDT The Narendra Modi government recently slashing duties on petrol and diesel and lowering several Goods and Services Tax (GST) rates indicated that it had finally accepted all was not well with the economy. The narrative that the Modi government was failing on the economic front had grown to be a big challenge for Modi. Modi’s own senior party leader and former finance minister Yashwant Sinha railed against the government for its economic failures and put it on the back foot. Modi had successfully deflected all attacks so far, but he seemed perturbed by the charge of derailing the economy with bad experimentation. This time, attack on Modi was backed with hard facts. GDP growth had been revised downward not just by World Bank and IMF but also the Reserve Bank of India. Amid all the criticism and hopelessness, Diwali looked bleak for Modi. But then came the economic data that can take wind out of sails of Modi critics and brighten Modi’s Diwali. The index of industrial production (IIP) rose 4.3 per cent in August, reversing a contraction in June and faster than a 0.9 per cent rise in July, exceeding expectations and raising hope the economy is set for a revival after slumping to a three-year low in the June quarter. There was more cheers for Modi. India’s annual consumer inflation in September marginally eased to 3.28 per cent from a year ago. The expectation had been for inflation of 3.5 per cent and industrial growth of around 2.5 per cent. Yet another set of data dispelled the gloom: India’s trade deficit narrowed to $8.98 billion in September, its lowest in seven months. Merchandise exports rose sharply in September, belying fears of a slump due to disruption and working capital issues brought on by the introduction of the goods and services tax. Exports climbed 25.67 per cent in September, exceeding an 18.1 per cent increase in imports, helping to narrow the trade deficit to $8.98 billion from $9.07 billion in September 2016. After a series of gloomy numbers and critics from all sides pouncing on Modi for economic mismanagement, the latest numbers offer Modi a short reprieve and will make his critics sound too harsh. The data suggests manufacturing and demand are returning to normal after the disruption caused by the GST rollout, though not as strongly as anticipated. These numbers do not indicate that the economy is out of the woods now. For that, the numbers will have to be consistently good for several next quarters. Yet, they weaken arguments of Modi’s critics that the economy has been ruined, thus giving Modi a reprieve from attacks. The new numbers will buttress the Modi government’s case that the economy is on the path to recovery. Yielding to attacks by opponents and accepting the general negative sentiment about the economy, the government had even planned for a fiscal stimulus. In it recent first meeting, the newly formed Prime Minister's Economic Advisory Council has ruled out the need for a stimulus. Now Modi has space to not take decisions that aim only at the short term and don’t help the economy in the medium or long term. |
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