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<ul><li>India is moving towards digitizing classroom learning across the country </li><li>The initiative will come into implementation from next academic session — 2019-2020. </li><li>It will focus on several domains including technology, mathematics, science and engineering. </li></ul>In line with its ‘Digital India’ development agenda, the Indian government is reportedly planning to invest heavily in modernising classrooms in India. On Wednesday, the Indian government <a href="https://www.livemint.com/news/india/centre-launches-9-000-crore-plan-to-digitize-education-delivery-1550683075713.html">launched</a> an initiative to bring digital boards as part of a broader digital initiative, promising an investment of ₹90 billion in state-run schools and colleges. Starting next academic year — 2019- 2020 — the initiative will be implemented over three years and cover over 150,000 schools for classes 9th to 12th and “thousands of colleges” across the country, India’s Human Resource Minister Prakash Javedekar reportedly said. "Some 60-70 years back there was an 'Operation Blackboard' because that was the need of the hour then. But the country has progressed over the years, and now we need an Operation Digital Blackboard," IANS reported citing Prakash Javadekar. Its use will initially extend to subjects including focus on technology, mathematics, engineering and science. Overall, the move is aimed at making learning more interactive. Digital boards have been successfully used by many business schools. With analytics emerging as the hottest sector under technology, the initiative will include domains such as machine learning, analytics and artificial intelligence. The overall cost will be shared by both states and centre in a 60:40 ratio, with the centre spending most on the initiative. However, the expenses on colleges and schools will be funded by University Grants Commission (UGC) through loans, <a href="http://education-delivery-1550683075713.html">said</a> the Livemint report. Last year, the ministry had formed a committee under Professor Ashok Jhunjhunwala of IIT Madras to look into the need of digital blackboards in schools/colleges. (With IANS)

From blackboards to digital boards: India infuses ₹90 billion to modernise classrooms

<ul><li>Global investment banking firm <keyword id="63460" type="CITY" weightage="20" keywordseo="JP-Morgan">JP Morgan</keyword> will invest ₹17 crore ($2.25 million) to impart skill training to over 4,800 graduates in India. </li><li>This is in partnership with the Shahani Academic &amp; Global Empowerment (SAGE) Foundation, a non-profit trust focused on skills training. </li><li>Under the initiative, the foundation will impart domain skills and communication, sales and problem solving skills via online and classroom courses. </li><li>This includes upskilling in the advanced technology and innovative concepts to enable the underprivileged youth to get entry-level jobs. </li></ul>Global investment banking firm JP Morgan will invest as much as ₹17 crore ($2.25 million) to impart skill training to over 4,800 graduates in India. This is in partnership with the Shahani Academic &amp; Global Empowerment (SAGE) Foundation, a non-profit trust focused on skills training. This includes upskilling in the advanced technology and innovative concepts to enable the underprivileged youth to get entry-level jobs in the Banking and Financial Services (BFSI) sector. “Businesses across sectors are facing challenges in employing skilled talent. This program will help bridge the gap between employee skills and employer needs. We look forward to high-yielding results,” said Maneesha Chadha, Head of Philanthropy for J.P. Morgan, India. The grant announcement comes at a time when it is alleged that the JP Morgan India unit helped a local company divert funds, thereby violating foreign investment rules. The Supreme Court has now permitted the Enforcement Directorate (ED) to attach the company’s properties <a href="https://economictimes.indiatimes.com/news/politics-and-nation/ed-gets-sc-nod-to-attach-jp-morgan-india-properties/articleshow/75909681.cms" data-type="tilCustomLink">worth ₹187 crore</a> in this case. This is the second grant that SAGE Foundation has received from J.P. Morgan. Under the initiative, the foundation will stress on domain skills and communication, sales and problem solving skills via online and classroom courses. The BFSI sector is aggressively investing in technology and the digitalization of its products and services. Hence, the skill training in the domain will help graduates find jobs in the banking sector. “With the demand for work-ready professionals with deep industry knowledge on the rise, it is imperative that educational institutions alter their approach and provide students with real and tangible skills that are relevant to the workforce of today,” said Akhil Shahani, MD, Shahani Group. See also: <a href="https://www.businessinsider.in/stock-market/markets/news/sebi-has-ordered-a-special-audit-of-the-six-debt-funds-shut-down-by-franklin-templeton-in-may/articleshow/76148899.cms">SEBI orders special audit of Franklin’s six debt funds – with ₹30,800 crore wealth locked in, wary investors demand reopening</a> <a href="https://www.businessinsider.in/careers/news/barclays-morgan-stanley-jll-and-others-hiring-senior-executives-during-the-coronavirus-lockdown/articleshow/76147578.cms">Barclays, Morgan Stanley, JLL and others hiring senior executives during the coronavirus lockdown</a>

JP Morgan sets aside ₹17 crore to upskill 4,800 Indian graduates for banking jobs

While presenting Budget 2015, <keyword id="6391015" type="UNKNOWN" weightage="20" keywordseo="Finance-Minister-Arun-Jaitley">Finance Minister Arun Jaitley</keyword> had emphasised more on <keyword id="6375224" type="ORGANIZATION" weightage="20" keywordseo="higher-education">higher education</keyword> and skill development. 
 
The government had proposed to set aside Rs. 69,074.76 crore for the education sector, out of which there was an increase in the Higher Education Budget from Rs. 23,700 crore in 2014-15 to Rs. 26,855.26 crore in 2015-16. 
 However, allocation for School Education &amp; Literacy was marginally reduced to Rs. 42,219.5 crore. For <keyword id="2783177" type="UNKNOWN" weightage="20" keywordseo="Budget-2016">Budget 2016</keyword>, experts are looking for more enhancing vocational education requirements. 
 
“Government’s schemes towards providing scholarships to meritorious, economically backward students should be strengthened in higher education. There is also a need to develop more vocational educational requirements of people who are not eligible for higher education,” said Prof. Rupamanjari Sinha Ray, Assistant Professor, MDI, Gurgaon. 
 
Meanwhile, the minister had also announced new IITs and AIIMS-like institutions. Experts say in Budget 2016, they should focus on funding existing institutions and create world-class tech-based classrooms. 
 
“Education is an important social sector and allocation of budget should be increased substantially. Instead of creating more IITs and IIMs in the country, government can strengthen by funding all the existing institutes in terms of quality resources and creating world class technology environment,” said Ray. 
 
For skill development, Jaitley had announced allocation of Rs. 1,543.46 crore to Ministry of Skill Development and Entrepreneurship. 
 
In Budget 2016, experts want more regulation in the education sector and private sector investments in skilling programmes. 
 
“With the focus on Digital India and start-ups, it would be nice to see investments in education and skilling programs to prepare the next generation. There is urgent need to transform bodies such as AICTE that control inputs such as curriculum and infrastructure and replace them with a body that rates “learning outcomes”. We need to attract private capital into higher education and invite ethical companies to invest and earn reasonable returns and ensure high standards in education. In other words we need to remove all controls and replace them with enabling regulation,” said Anil Sachdev, Founder &amp; CEO of School of Inspired Leadership. 
 
It is yet to see how much allocation does Jaitley announces for education sector but there is a need to have more practical learning classrooms. 
 
(Image: Indiatimes)

Experts pin hopes on more allocation for skilling programmes, tech-based learning in Budget 2016

Union <keyword id="6355261" type="POSITION" weightage="100" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> presented his first budget today. He started his budget speech with a reality check amid high expectations by saying no miracle should be expected in the very first budget and he expected growth to rise to 7-8% over three to four years. He also said that achche din will definitely come but it will not happen overnight and will take some time. 
 During his budget speech, Jaitley asked Speaker <keyword id="6354934" type="PERSON" weightage="100" keywordseo="Sumitra-Mahajan">Sumitra Mahajan</keyword> for a five-minute break, which was granted. It was perhaps for the first time that a finance minister asked for a break while presenting the budget. Later, he complained of breathlessness when he resumed his speech and was asked by the Speaker to deliver the speech sitting down. 
 
Jaitley said the people below poverty line want to raise themselves above it. While higher growth is important, we cannot ignore the fact that the poor suffer the most. Emphasising on poverty alleviation, he said slum development would be included in corporate social responsibility (CSR) activities. 
 
Here are the key points of his maiden budget speech: 
 
· No changes in tax rates for individuals · Personal <keyword id="6354751" type="COMPANY" weightage="100" keywordseo="Income-Tax">income tax</keyword> limit increased by Rs 50,000 for people below 60 years 
· Tax exemption limit for small and marginal, and senior tax payers changed from Rs 2 lakh to Rs 2.5 lakh 
· Investment limit under 80C raised from Rs 1 lakh to Rs 1.5 lakh 
· Rs 100 crore for modernisation of madrasas 
· Development of Metro rails in PPP mode; Rs 100 crore set aside for Metro scheme in Ahmedabad and Lucknow 
· Rs 500 crore for digital India programme to ensure broadband connectivity at village level, transparency in governance · Govt proposes to set up five new IIMs, four new <keyword id="40458" type="COMPANY" weightage="100" keywordseo="AIIMS">AIIMS</keyword> and five new IITs 
· Jaitley announces 'Beti padhao, beti badhao yojana', sets aside Rs 100 crore for this 
· 15 new Brail presses to be established and revival of 10 existing announced 
· Rs 200 crore set aside to support Gujarat govt in the Sardar Patel statue installtion: Jaitley 
· Sanitation: Government intends to cover every household in the country by 2019 
· Govt to provide finance to five lakh landless farmers through NABARD 
· Rs 100 crore set aside for Kisan Television to provide real time information on various farming and agriculture issues 
· Trade facilitation centre to promote handloom work in Varanasi 
· New airports to be developed through PPP mode in tier-II and tier-III cities 
· Rs 4200 crore set aside for 'Jal Marg Vikas' project on river Ganga connecting Allahabad to Haldia, over a distance of 1620km 
· Retrospective tax amendment to be undertaken with extreme caution 
· Rs 3600cr set aside for National Rural Drinking Water 
· Rs 2.29 lakh crore allocated for defence sector 
· Hope to implement goods and service tax this year 
· Annual PPF ceiling to be raised to Rs 1.5 lakh, from Rs 1 lakh · FM announces '<keyword id="2412683" type="UNKNOWN" weightage="100" keywordseo="Namami-Ganga">Namami Ganga'</keyword> - an integrated Ganga Development Project; Rs 2037 crore set aside for this 
· Sports university to be set up in Manipur, Rs 100 crore to be provided for this 
· FDI in insurance to be hiked to 49%

Union Budget 2014: 25 Key Points

In another move to bump up PM Narendra Modi’s ‘Make in India’ and ‘Digital India’ program, government has now approved 21 electronic clusters. <keyword id="46149" type="POSITION" weightage="20" keywordseo="Telecom-minister">Telecom Minister</keyword> <keyword id="6354886" type="PERSON" weightage="20" keywordseo="Ravi-Shankar-Prasad">Ravi Shankar Prasad</keyword> pronounced the pact while speaking at the occasion of <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">NASSCOM</keyword> and IESA alliance for government’s Make in India and Digital India plans. 
 
"We have given in-principle approval to 21 electronic clusters and electronic manufacturing is priority area for us," said Ravi Shankar Prasad. The report published in business daily Economic Times said the alliance is aiming for IT and electronic system design and manufacturing (ESDM) to contribute 25% to the country's <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> in another ten years. 
 
Telecom Minister Ravi Shankar Prasad informed that the ministry had already approved proposals worth Rs 9,000 crore among the applications worth 65,000 crore it has received so far. All the applications approved by the ministry have been accepted under the modified special incentive package scheme or MSIPS program, which aims to promote large-scale manufacturing in electronic system design and manufacturing. 
 Under the MSIPS program, a subsidy of 20% in capital expenditure is given to companies for investment in SEZs and 25% in non-SEZs. As per the reports, telecom sector, in the past few years has emerged as one of the biggest contributor in <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword>. 
 
Prasad also said, ‘Manufacturing is crucial as it drives economic growth and revenue for the country. India's mobile penetration is expected to cross the one billion mark, but it is unfortunate that the country depends largely on imported devices.’

Telecom is the biggest contributor to FDI

New Delhi, Feb 2 () Following are the top business stories at 2040 hours:-

DEL40 BIZ-BUD-LIC-LD LISTING
LIC public offer likely in 2nd half of FY21, says Finance Secy
New Delhi: Listing of insurance behemoth Life Insurance Corporation (LIC) may be done in the second half of the next financial year, Finance Secretary Rajiv Kumar said on Sunday.
 
 DEL32 BIZ-FM-LD NRI
NRI tax not to apply on bonafide workers in Middle East
New Delhi: The government on Sunday clarified that the proposed tax on NRIs will not apply on bonafide Indians working in tax-free foreign countries and is intended to tax only those seeking to escape tax by exploiting their non-resident status.

DEL30 BIZ-FM-TAX
New tax regime to definitely benefit taxpayers in some brackets: Sitharaman
New Delhi: With experts terming the new tax regime complex and unavailing, Finance Minister Nirmala Sitharaman on Sunday said the new structure will definitely benefit taxpayers in certain brackets, and more clarification will be issued by the government, if needed.
 
 DCM34 BIZ-BPCL-EOI
Govt to issue BPCL EoI in next few days
New Delhi: The government will come out with the expression of Interest (EoI) inviting bidders for privatisation of BPCL within few days, a senior official said on Sunday.

 DCM33 BIZ-FM-LD ETF
FM says 2nd tranche of Bharat Bond ETF within this quarter
New Delhi: Finance Minister Nirmala Sitharaman on Sunday said the second tranche of Bharat Bond exchange traded fund (ETF) is likely to hit the market in the current quarter.

 
 DCM24 BIZ-BUD-LD NITI AAYOG
Stock market's reaction on Budget surprising: Niti Aayog vice chairman
New Delhi: Niti Aayog Vice Chairman Rajiv Kumar expressed surprise over the stock market reacting negatively on the Budget proposals, saying investors probably expected some big bang reforms and ignored the initiatives towards investment and growth.
 
DCM23 BIZ-MARKET-OUTLOOK
Budget overhang, RBI policy, Q3 earnings to decide market course this week: Analysts
Mumbai: Budget overhang is likely to dominate trading pattern in the equity market this week, while participants will also keenly watch other developments like RBI policy, release of key macro data and quarterly earnings, according to analysts.
 
 DCM22 BIZ-BUD-DIGITAL INDIA OUTLAY
Govt increases Digital India Program fund by 23% to Rs 3,958 cr
New Delhi: The government has increased the outlay for digital India programme by 23 per cent to Rs 3,958 crore for 2020-21 compared to the actual allocation in the current fiscal. 

 
DCM21 BIZ-SEED FUND-DPIIT
DPIIT working on guidelines for National Seed Fund: Mohapatra
New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT) is working on guidelines for a National Seed Fund that was announced in the Budget for 2020-21 to help start-ups and budding entrepreneurs, a top government official said.
 
DCM17 BUD-UIDAI
Govt pegs UIDAI's allocation at Rs 985 cr for FY21
New Delhi: The government has raised fund allocation for the Unique Identification Authority of India (UIDAI) - which issues biometric ID to residents - by 17 per cent to Rs 985 crore for the next fiscal starting April 1. BAL
BAL

Business Highlights

<ul><li>Under this collaboration, students and teachers will access blended learning programmes that combine classroom approach with online learning including free tools like <keyword id="3703875" type="PERSON" weightage="20" keywordseo="G-suite">G Suite</keyword> for Education, <keyword id="2229515" type="PERSON" weightage="20" keywordseo="Google-Classroom">Google Classroom</keyword>, <keyword id="6355629" type="COMPANY" weightage="20" keywordseo="google">Google</keyword> Meet and others.</li><li>This makes Maharashtra the first state in the country to launch G Suite for Education and Google Classroom for the students currently engaged in online learning, owing to the Covid-19 pandemic lockdown.</li><li>This makes Maharashtra the first state in the country to launch G Suite for Education and Google Classroom for the students currently engaged in online learning, owing to the Covid-19 pandemic lockdown. </li></ul>As part of the policy for universal education, the Maharashtra government has tied up with Google to enable remote learning for 2.30 crore students and teachers, officials said here on Thursday. Under this collaboration, students and teachers will access blended learning programmes that combine classroom approach with online learning including free tools like G Suite for Education, Google Classroom, Google Meet and others. This makes Maharashtra the first state in the country to launch G Suite for Education and Google Classroom for the students currently engaged in online learning, owing to the Covid-19 pandemic lockdown. The state government will provide individual educators and students their own <keyword id="9710673" type="COMPANY" weightage="20" keywordseo="g-suite-id">G Suite ID</keyword> to ensure all students in private or government schools in the remotest areas can experience continuity in learning, besides enhancing the teaching capabilities of educators. "In the Corona crisis when the world is at a standstill, how to restart education is one of the primary concerns we face today. I feel this global crisis has led us from the present to the future," Chief Minister Uddhav Thackeray said at the launch. Deputy Chief Minister Ajit Pawar said during these tough times, education must not stop and everyone should get access to education like before. "With this cooperation, Google has enabled access to G Suite for Education and Google Classroom programme for our state schools, students can sit at home and learn, ask questions, clarify doubts, save lectures, etc," he said. School Education Minister Varsha Gaikwad stressed on the power of the Internet to take education to the masses and reduce the learning gap. "With emphasis on online resources, platforms, bandwidth, and availability of technological solutions, we aim to make Maharashtra the most progressive state on education," she said. Google India Vice-President and Country Head Sanjay Gupta said since the Covid-19 outbreak, over 32 crore children have been hit by school closures, making access to quality education even more critical. "This collaboration builds upon our commitment to create useful tools that make information accessible over the internet, so that teachers and students continue to benefit from it," he added. Gupta said that this month, the Maharashtra government rolled out a survey asking teachers to register for the first batch of training programmes and out of the 700,000 educators across the state, Google received 150,000 sign-ups in less than 48 hours. Google for Education solutions help teachers provide excellent educational experiences and enable students to learn better by nurturing individual needs. Each solution has been designed to be easy to use, flexible and scalable. They are built for collaboration, secure by design, and will now be available to scores of teachers and students across Maharashtra, for free. At the sixth Google for India event, Google announced that it will enable over 1 million teachers across 22,000 schools in India with blended learning by the end of 2020. Earlier this year, Google collaborated with FICCI Arise to ensure teachers and students can transition to remote learning seamlessly, and trained teachers in over 250 schools across 23 states to use digital tools such as Google Meet. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-governor-shaktikanta-das-leaves-repo-rate-unchanged-to-check-inflation/articleshow/77387591.cms">‘Watchful’ RBI leaves repo rate unchanged to keep inflation in check</a> <a href="https://www.businessinsider.in/tech/news/the-beirut-explosion-created-a-huge-mushroom-cloud-and-visible-blast-wave-but-nuclear-weapons-experts-say-it-wasnt-an-atomic-blast-heres-why-/articleshow/77362144.cms">The Beirut explosion created a huge mushroom cloud and visible blast wave, but nuclear weapons experts say it wasn't an atomic bomb. Here's why.</a> <a href="https://www.businessinsider.in/business/startups/news/microsoft-for-startups-lathika-pai-says-entrepreneurs-pitching-for-investments-need-to-have-this-one-question-answered-in-their-pitch-decks/articleshow/77352935.cms">Microsoft for Startups’ Lathika Pai says entrepreneurs pitching for investments need to have this one question answered in their pitch decks</a> <a href="https://www.businessinsider.in/careers/news/linkedin-tcs-disney-hotstar-zee-and-other-companies-hiring-right-now-in-india/slidelist/77352775.cms">LinkedIn, TCS, Disney+ Hotstar, Zee and other companies hiring right now in India</a>

Maharashtra government partners with Google to provide remote learning to 23 million students

New Delhi, Oil sector public sector undertakings (PSUs) may have to bear a <keyword id="9705803" type="UNKNOWN" weightage="20" keywordseo="larger-share">larger share</keyword> of <keyword id="10488841" type="UNKNOWN" weightage="20" keywordseo="additional-dividend-payment">additional dividend payment</keyword> to the government this year with almost all companies falling behind on their capex plan for the current fiscal. As of November, the capex of PSU oil companies put together stands at ₹46,303 crore, less than 50% of the annual target of ₹98,522 crore. The government has asked companies to complete at least 75% of capex till the end of December quarter. But this looks highly unlikely now pushing the case for higher dividend payout. In meetings with PSUs, Finance Minister Nirmala Sitharaman had stressed on the need for PSUs to step up <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword> during the time of the pandemic to boost overall sentiments and kickstart investment climate in the country. She had specifically urged companies to complete at least 75% of capex target by December-end and more than 100% by March. "It is a double whammy for PSUs now. They have to cough up more either through investments or through payment of additional dividends. It should also be seen that the companies are finding it difficult to meet capex targets given financial and project implementation constraints. Covid has severely dented demand and slowed project implementation. Consequently, there is already a strain on their resources that would get heightened as additional dividend would have to be paid," said a top official of a PSU, asking not to be named. While almost all PSUs are facing delays and difficulties in stepping up the gas and increasing investments, the situation among companies in the oil and gas sector looks worse. Slow demand conditions in early part of the year resulted in slowing of several capex plans. Though the situation has improved from November onwards, still its a long way to go for normalcy to return in the sector. For the government, oil sector PSUs are also set to make big inventory gains due to firming up of crude prices, and hence they are being looked at for higher interim dividend or special dividend and a few may also be considered for share buyback depending on market conditions. Among the oil and gas PSUs, the worse performer in terms of capex spend is the country's largest oil and gas explorer ONGC and largest public sector refiner <keyword id="6356834" type="DOMAIN" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword>. According to oil ministry's <keyword id="819806" type="COMPANY" weightage="20" keywordseo="Petroleum-Planning-and-Analysis">Petroleum Planning and Analysis</keyword> Cell (PPAC), while ONGC had completed just ₹14,959 crore worth of capex upto November out of FY21 investment target of ₹32,502 crore, IOC's capex upto November is ₹12,104 crore against annual target of ₹26,233 crore. Similarly, HPCL has completed capex of ₹5,658 crore (upto November) against target of ₹11,500 crore; Gail India - ₹2,614 crore against annual target of ₹5,412 crore; Oil India - ₹2,136 crore vs ₹3,877 crore target; MRPL - ₹631 crore vs ₹1,150 crore, OVL - ₹3,765 crore vs ₹7,235 crore. Among the worst performer on capex is privatisation-bound <keyword id="155363" type="DOMAIN" weightage="20" keywordseo="Bharat-Petroleum-Corporation-Ltd">Bharat Petroleum Corporation Ltd</keyword> (BPCL) which has spent just ₹3,716 crore against target of ₹9,000 crore. Officials sources said that PSUs with stock prices higher than the book value and who have sufficient cash funds may also be asked to shell higher dividend in FY21. A call will be taken after the third quarter results of companies are declared late January or early February next year. With the central government being the largest shareholders in PSUs, higher dividend would largely help it to fill its coffers at a time when revenue is constrained due to a overall fall in economic activity during the pandemic while expenditure has risen sharply. Dividend from non-financial PSUs have been budgeted at ₹65,747 crore in FY21. Any increase in this will give a boost to non-tax revenue of the government and help its bridge the rising fiscal deficit that as per initial estimate is now pegged close to 8% of GDP. Finance Minister Nirmala Sitharaman and her predecessors, including the late Arun Jaitley and P. Chidambaram, had maintained the policy of advising non-financial state-owned companies that if they are not utilising their cash reserves for capex needs, they should give it to the Centre through dividends or share buybacks. As per the guidelines issued by disinvestment department DIPAM, every CPSE is required to pay a minimum annual dividend of 30% of PAT or 5% of the net-worth, whichever is higher. Apart from oil sector, several PSUs in power and mining space have completed just about 40% annual capex by November due to constrained business environment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a> <a href="https://www.businessinsider.in/careers/news/ey-is-looking-to-hire-9000-techies-in-2021-to-boost-its-digital-services/articleshow/79936576.cms">EY is looking to hire 9,000 techies in 2021 to boost its digital services</a>

Revenue constrained government may push oil PSUs short on FY21 capex to pay higher dividend

Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> presented the Union Budg2017, his fourth annual <keyword id="6358021" type="PERSON" weightage="20" keywordseo="budget">budget</keyword>, today. The highlights of Budget 2017 are : 
 
 
Monetary policy to be expansionary in major economies 
 
More steps will be taken to benefit farmers and the weaker sections; budget being presented during weak global economy 
 Pace of remonetisation has picked up; <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> effects will not spill over to next year 
 
Functional autonomy of the railways to be maintained 
 
Demonetisation will help in transfer of resources from tax evaders to government: 
 
Merger of Railways Budget with General Budget brings focus on a multi-modal approach for development of railways, highways and inland water transport 
 
Only transient impact on economy due to demonetisation; long term benefit include higher GDP growth and tax revenue 
 
GDP will be bigger, cleaner after demonetisation 
 Effects of demonetisation not expected to spill over to the next year, says <keyword id="6355261" type="POSITION" weightage="20" keywordseo="Finance-minister">Finance Minister</keyword> 
 
 Effects of demonetisation not expected to spill over to the next year, says <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> Minister 
 
 
Govt took two tectonic policy initiatives - passage of GST Bill and demonetisation 
 
Demonetisation was a continuation of series of measures taken by govt in 2 yrs; it is bold and decisive measure 
 
We are seen as engine of global growth; IMF sees India to grow fastest in major economies 
 
36 pc increase in FDI flow; forex reserves at USD 361 billion in January enough to cover 12 months needs 
 
CAD declined from 1 pc last year to 0.3 pc in first half of current fiscal: FM 
 
 
India has emerged as bright spot in the world: FM 
 
 
Uncertainty around commodity prices especially oil to have impact on emerging economies: FM 
 
Double digit inflation has been controlled; sluggish growth replaced by high growth; war on blackmoney launched: FM 
 
We have moved from discretionary based administration to policy based administration: FM Jaitley 
 
Agricultural sector is expected to grow at 4.1 per cent this fiscal, says Jaitley 
 
Demonetisation was a bold and decisive strike in a series of measures to arrive at a new norm of bigger, cleaner and real GDP 
 
Committed to double farm income in 5 yrs 
 
Plan, non-plan classification of expenditure done away with in the Budget for 2017-18 to give a holistic picture 
 
Mini labs by qualified local entrepreneurs to be set up for soil testing in all 648 krishi vigyan kendras in the country 
 
Budget presentation advanced to help begin implementation of schemes before onset of monsoon 
 
We will continue the process of economic reform for the benfit of poor 
 
Spend more in rural areas, infra, poverty alleviation, while maintaining fiscal prudence as guiding principle of Budget 
 
Our agenda for next year is to transform, energise and clean India 
 <keyword id="6354424" type="ORGANIZATION" weightage="20" keywordseo="World-Bank">World Bank</keyword> expects GDP growth rate at 7.6 pc in FY18 and 7.8 pc in FY19 
 
Allocation under MNREGA increased to 48,000 crore from Rs 38,500 crore. This is highest ever allocation 
 
Rs 9,000 cr higher allocation for payment of sugarcane arrears 
 
Target of agriculture credit fixed at Rs 10 lakh cr in 2017-18 
 
Tax administration honouring the honest is one of the 10 pillars of Budget 2017-18 
 
National Testing agency to conduct all examinations in higher education, freeing CBSE and other agencies 
 
133-km road per day constructred under Pradhan Mantri Gram Sadak Yojana as against 73-km in 2011-14 
 
Govt to set up dairy processing fund of Rs 8,000 crore over three years with initial corpus of Rs 2,000 crore 
 
1 cr households to be brought out of poverty under Antodya Scheme 
 
Participation of women in MNREGA increased to 55 pc from 45 pc in past 
 
Modern law on contract farming will be drafted and circulated to states 
 
Dedicated micro-irrigation fund to be created with a corpus of Rs 5000 crore 
 
Market reforms will be undertaken, states will be asked to denotify perishables from Essential Commodities Act 
 
Space technology to be used for monitoring MNREGA implementation 
Sanitation coverage in villages has increased from 42 pc in Oct 2016 to 60 pc, a rise of 18 pc, says FM 
 
We propose to provide safe drinking water to 28,000 arsenic and fluoride affected habitations 
 
To construct one crore houses by 2019 for homeless. PM Awas Yojana allocation raised from Rs 15,000 cr to Rs 23,000 cr 
 
100 pc electrification of villages to be completed by May 2018 
 
27,000 cr on to be spend on PMGSY; 1 cr houses to be completed by 2017-18 for houseless 
 
PM Kaushal Kendras will be extended to 600 districts; 100 international skill centres to be opened to help people get jobs abroad 
 
The allocation for rural agri and allied sector in 2017-18 is record Rs 1,81,223 crore 
 
In higher education, we will undertake reforms in UGC, give autonomy to colleges and institutions 
 
A system of annual learning outcome in schools to be introduced; innovation fund for secondary education to be set up 
 
Two new AIIMS to be set up Jharkhand and Gujarat 
 
New rules regarding medical devices will be devised to reduce their cost 
 
1.5 lakh health sub centres to be converted to Health Wellness Centres 
 
National Housing Bank will refinance indiviual loans worth Rs 20,000 crore in 2017-18 
 
Rs 500 cr allocated to set up Mahila Shakti Kendras; Allocation raised from Rs 1.56 lakh cr to Rs 1.84 lakh cr for women &amp; child welfare. 
 
Capital and development expenditure pegged at Rs 1.31 lakh cr for railways in 2017-18 from Budget 
 
Allocation for SCs increased from Rs 38,833 cr to Rs 52,393 cr, a rise of 35 per cent 
 
35 pc increase in allocation for SC to Rs 52,393 cr 
 
For senior citizens, Aadhaar based health cards will be issued 
 
Model Shops and Establishment Bill to open up additional opportunities for employment of women 
 
Select airports in tier-II cities to be taken up for operations, development on PPP mode 
 
New metro rail policy to be unveiled 
 
Railway tariffs to be fixed on the basis of cost, social obligation and competition 
 
Service charge on e-tickets booked through IRCTC will be withdrawn 
 
Delhi and Jaipur to have solid waste management plants and five more to be set up later 
 
Government proposes Coach Mitra facility to redress grievances related to rail coaches 
 
500 stations will be differently abled by providing lifts and escalators 
 
Unmanned railway level crossings to be eliminated by 2020 
 
Railway line of 3,500 km will be commissioned in 2017-18 as against 2,800 km in 2016-17 
 
Total allocation for rural, agri and allied sectors for 2017-18 is a record Rs 1,87,223 cr, up 24 per cent from last year 
 
Rs 1 lakh cr corpus for railway safety fund over five years 
 
A scheme for senior citizens to ensure 8 per cent guaranteed returns 
 
Dedicated micro-irrigation fund to be set up by NABARD to achieve mission of Per Drop, More Crop 
 
Digi Gaon will be launched to promote tele-medicine and education 
 
Crude oil strategic reserves to be set up in Odisha and Rajasthan apart from 3 already constructed 
 
Coverage of Fasal Bima Yojana to go up from 30 pc of cropped area to 40 pc in 2017-18 and 50 per cent next year 
 
For transport sector, including railways, road and shipping, government provides Rs 2.41 lakh crore 
 
Allocation of Rs 10,000 cr for Bharat Net project for providing high-speed broadband in FY18 
 
Allocation for national highways stepped up to Rs 64,000 cr from Rs 57,676 cr 
 
Budget allocation for highways stepped up to Rs 64,000 crore in FY18 from Rs 57,676 crore 
 
Dispute resolution in infrastructure projects in PPP mode will be institutionalised 
 
Rs 2,74,114 crore allocated for defence expenditure, excluding pension; This includes Rs 86,000 crore for defence capital 
 
Govt to further liberalise FDI policy 
 
Over 90 per cent of FDI proposls are now processed through automatic route 
 
FIPB will be abolished 
 
Trade Infrastructure Export Scheme to be launched in 2017-18; total allocation for infra at record Rs 3.96 lakh cr 
 
Second phase of solar power development to be taken up with an aim of generating 20,000 MW 
 
After demonetisation on Nov 8 last year, deposit of between Rs 2 lakh and Rs 80 lakh made in 1.09 cr bank accounts at an average of Rs 5.03 lakh till Dec 30 
 
More funds beyond Rs 10,000 cr for recapitalisation of banks will be provided if needed 
 
The shares of railway CPSCs like IRCTC and IRFC to be listed on various stock exchanges 
 
We are largely a tax non-compliant society 
 
New ETF with diverse stocks will be launched in 2017-18 
 
Of 76 lakh individuals who reported income of over Rs 5 lakh, 56 lakh are salaried 
 
Integrated public sector oil major to be created to match global giants 
 
Govt will amend the Multi-state Cooperative Act to protect the poor and gullible investors 
 
Urgent need to protect poor from chit fund schemes, draft bill placed in public domain 
 
Computer emergency response team to be set for cyber security of financial sector

Union Budget 2017: Here are the highlights so far

Kolkata, Feb 16 () Tata Steel Ltd is expecting itscapex during the current fiscal to touch the Rs 9,000-croremark, company sources said.The steel major, however, will take a cautiousapproach at the capital allocation for the next financialyear, they said.The steel maker had, earlier, said that it wouldrevise the planned capital expenditure for the 2019-20 to Rs8,000 crore from Rs 12,000 crore for the group.In the third quarter, company had spent about Rs 2,777crore, taking the total capital expenditure to Rs 7,762 croreduring the first nine months of the current fiscal, sourcessaid.The company had invested around Rs 1,367 crore for itsIndia operation, including about Rs 935 crore expenditure forits Kalinganagar plant in Odisha, they said."A part of the capex is committed to Tata SteelEurope. Thus, the actual spending will be higher. By theyear-end, the capex will be around Rs 9,000 crore."But (we are) looking at the capital allocation verysharply for the next year and it would depend on how themarkets play out over the next few months," sources said.They said the company has prioritised the pellet plantand the cold-rolling mill."The pellet plant will help us to bring down costswhile the cold-rolling mill to add value to the productmix...We maintain our target to commission the same in about ayear from now," the company had informed the analysts.For other projects, the steel maker will phase it outdepending on the market conditions, soures added. BSMBDC BDC

Tata Steel capex likely to touch 9,000cr in FY20

OpenClassroomsPierre Dubuc is cofounder and CEO of OpenClassrooms.<ul class="summary-list"><li>Corporations are spending billions to retrain workers amid an intense battle for tech workers. And several top companies are turning to OpenClassrooms to help do that.</li><li>Cofounder and CEO Pierre Dubuc launched the company at 11 years old, when he and cofounder Matthieu Nebra couldn't find the courses they wanted at school. Now, the company has trained roughly 3 million students and operates in 130 countries.</li><li>While partners like Microsoft believe traditional educational pathways are still relevant, the rise of OpenClassrooms and other online institutions show just how eager organizations are to pursue a number of different pathways to upskill and retrain their workforce. </li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary" target="_blank" rel="noopener">Click here for more BI Prime stories</a>.</li></ul>Companies are investing heavily to retrain workers as the <a href="https://www.businessinsider.com/tech-industry-skills-in-highest-demand-2019-9">war for tech talent intensifies</a>.Amazon <a href="https://www.businessinsider.com/amazon-plans-to-retrain-a-third-of-us-workforce-2019-7">pledged $700 million to retrain a third of its workforce</a> in the next six years. Professional services firm PricewaterhouseCooper, or PWC, is <a href="https://www.businessinsider.com/pwc-announces-3-billion-job-retraining-investment-as-competitive-edge-2019-9">similarly investing $3 billion to retrain 275,000 employees</a> in the next four years. And <a href="https://www.businessinsider.com/top-companies-using-virtual-reality-in-the-workplace">Microsoft</a> is in the midst of training 1,000 new artificial intelligence engineers.The one thing they all have in common? The companies are relying on OpenClassrooms to help. With Amazon, for example, OpenClassrooms is reskilling fulfillment center workers to become web developers or digital marketers.The partnerships show just how critical new educational pathways outside traditional colleges are to companies trying to overcome the talent shortage that is hindering digital overhaul efforts."Reskilling was nowhere 10 years ago," CEO and cofounder Pierre Dubuc told Business Insider. "Now you have so many large companies investing massively on upskilling and reskilling as a way to uplift their workforce, improve the employer's brand, increase the loyalty of their employees. It's definitely a tipping point right now."Dubuc's journey to grow OpenClassrooms started early. When he was 11 years old, Dubuc and his cofounder, Matthieu Nebra, began creating online courses because they could not find the classes they wanted in their school. Now, the company has trained roughly 3 million students and operates in 130 countries. It also guarantees that graduates will find a job within six months or get their money back."It's really a way for us to make sure that we'd build the right curriculum with the right competencies in high demand on the markets [and] to update those curriculum regularly," said Dubuc.<h2>Microsoft's challenge to train new AI engineers</h2>Each enrollee in OpenClassrooms has a dedicated mentor they meet with every week via video conference. The goal is to have a highly personalized experience for each student. But the company also caters the educational programs to the needs of the client.With Microsoft, for example, it is training employees on general AI skills, but also more specific courses on Azure, the tech behemoth's cloud platform. So over the course of the one-year program, students will meet with their mentor 50 times and emerge with a master's degree, along with a Microsoft certification in AI."We obviously are experts in our technology, but our core competency is not making someone employable," said Ed Steidl, director of offering and partnerships at Microsoft. The goal with the OpenClassrooms partnership is "getting people who are work-ready deployed, upskilled, and reskilled, and back into the marketplace in a relatively short time-frame."While Steidl still sees a role for higher education, legacy institutions are limited in their online offerings and, according to Dubuc, can't handle the pace at which corporations need to reskill employees."Which local community college can create 1,000 AI engineers? The scaling is really an issue," he said.<h2>Determining the return on investment from retraining initiatives</h2>One relative unknown is how effective these retraining efforts will be and how to effectively measure the success of the programs.PWC is taking a client-centric approach to evaluating its own initiative by asking, among other things, how they view the professional services firm compared to the competition, then evaluating the feedback across the three-year training exercise to see if it improves. It's also tracking whether employee retention rises for those who enroll, and if increased performance results in financial gains."Working with these new tools should allow them to do more with less, or do the same with less," said Mame-Mor Fall, workforce strategy manager at PWC. "That should reflect in our financial metrics."Some of OpenClassrooms' other clients are also seeing success in their reskilling efforts. It worked with an energy company faced with a declining need for technicians who worked on meters that became connected to a smart grid (this meant they could be managed remotely). The company wanted to invest in training those employees to become IT workers and application developers."We had more than a 90% success rate, meaning they went from technician to developer," said Dubuc. That outcome is about average across OpenClassrooms.But it's not just the companies that are seeing radical transformations in their workforce. One enrollee studied in prison to become a freelance web developer. Another was a cashier at a supermarket who is a digital product manager making three times her salary. The stories help inspire OpenClassrooms' employees to continue the mission."Every week we have an all-hands meeting with the team - we're a team of 200 - and we ask a student graduate to tell her story in front of the team," Dubuc said. "It's so emotional, people telling what they have been through and how that's challenged and impacted their lives." <h3>NOW WATCH: <a href="https://www.businessinsider.com/deepak-chopra-how-to-unleash-your-happiness-creativity-productivity-2019-11">Deepak Chopra explains how to unlock your natural happiness, creativity and productivity</a></h3>

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Meet the CEO of an education company he started at age 11 that Amazon, Microsoft, and PWC are counting on to retrain their workers for the digital age

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