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<ul><li>India Post Payments Bank Limited (IPPB) has opportunities for job seekers with 132 executive positions available on a contractual basis. </li><li>The Indian Air Force (IAF) has invited unmarried Indian male and female candidates to apply for the selection test for Agniveervayu intake. </li><li>The Defense Research and Development Organisation (DRDO) has recently advertised 55 job openings for the position of Project Scientists. </li></ul>Indians often prefer <keyword id="6362949" type="General" weightage="20" keywordseo="government-jobs" source="Orion">government jobs</keyword> due to the perceived job security and various benefits, including pensions, healthcare, and other allowances, which are seen as stable and reliable compared to some private sector positions. Additionally, government jobs are often considered prestigious and socially esteemed in Indian society, further attracting individuals seeking stability and status in their careers. We look at Government vacancies available in the month of August 2023. <cmsannotation type="cmsannotation" annotationid="India Post" comment="subhead" text="India Post">India Post</cmsannotation> India Post Payments Bank Limited (IPPB) is presenting an opportunity for job seekers with 132 executive positions available on a contractual basis. Those seeking to advance their careers in the financial sector can submit their applications for these vacancies through the official website ippbonline.com. The application deadline is August 16, 2023. To qualify for these executive roles, applicants must fulfil specific requirements. As of June 1, 2023, candidates should be aged between 21 and 35 years. Moreover, a Bachelor's degree in any field is mandatory, and preference will be given to candidates with prior experience in financial product sales or operations. <cmsannotation type="cmsannotation" annotationid="Indian Air Force" comment="subhead" text="Indian Air Force">Indian Air Force</cmsannotation> The Indian Air Force (IAF) has invited unmarried Indian male and female candidates to apply for the selection test for Agniveervayu intake 01/2024, under the Agnipath scheme. Interested individuals can apply through the official website of IAF Agniveervayu at agnipathvayu.cdac.in. The application process started on July 31 and will close on August 17. To be eligible, candidates must have been born between June 27, 2003, and December 27, 2006. Educational qualifications vary based on the subject stream. Science subjects require candidates to have passed Intermediate/10+2/Equivalent examination with specific subjects and marks, while Other than Science Subjects applicants should have completed their Intermediate/10+2/Equivalent Examination in any stream/subjects with minimum marks in English. The candidates need to meet specific medical standards concerning height, weight, chest measurements, hearing, and dental health, as outlined by the Indian Air Force. <cmsannotation type="cmsannotation" annotationid="Defense Research and Development Organisation" comment="subhead" text="Defense Research and Development Organisation">Defense Research and Development Organisation</cmsannotation> The Defense Research and Development Organisation (DRDO) has recently advertised 55 job openings for the position of Project Scientist. Those interested in applying can do so through DRDO's official website at drdo.gov.in. The application process is entirely conducted online, and the deadline for submission is August 11. This recruitment aims to fill a total of 55 vacancies. Notably, male candidates belonging to the General, other backward class (OBC), and economically weaker section (EWS) categories are required to pay an application fee of ₹100, while scheduled caste (SC), scheduled tribe (ST), person with disability (PWD), and women candidates are exempt from any fee. The age limit for Project Scientist F is 55 years, for E it is 50 years, and for D, the maximum age allowed is 45 years. Aspiring candidates looking to join DRDO, a crucial part of the Ministry of Defence, should take note of these vital details during the application process. <cmsannotation type="cmsannotation" annotationid="Staff Selection Commission" comment="subhead" text="Staff Selection Commission">Staff Selection Commission</cmsannotation> The Staff Selection Commission (SSC) has issued a notification for the Junior Engineer (JE) Examination, including civil, mechanical, and electrical branches. The online registration process commenced on July 26, and candidates can apply for the SSC JE 2023. The last date of submitting the application form is August 16. Through this recruitment drive, the SSC aims to fill 1,324 vacancies for junior engineers in various central government departments such as Military Engineering Services(MES), Border Roads Organisation (BRO), Central Public Works Department (CPWD), National Technical Research Organisation (NTRO), and others. Aspiring candidates need to pay an examination fee of Rs 100. However, candidates belonging to SC, ST, PWD, women, and ex-servicemen eligible for reservation are exempted from paying the fee.

From Indian Air Force to DRDO – Government jobs up for grab in August

The bilateral relations between Russia and <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> have stood the test of time. But, the Fifth Generation Fighter Aircraft (<keyword id="441427" type="ORGANIZATION" weightage="20" keywordseo="FGFA">FGFA</keyword>) tells a <a href="https://www.news18.com/news/india/india-reconsidering-rs-2-lakh-crore-5th-generation-fighter-jet-programme-with-russia-2-1804989.html">different story.</a> Negotiations have been stuck for 11 years and the latest developments now indicate that India might want to shelf the project for good due to the costs involved. Home to the fourth largest <keyword id="32720" type="PERSON" weightage="20" keywordseo="Airforce">airforce</keyword> in the world, India takes its aircrafts quite seriously. It’s no joke to shell out $30 billion (₹2 lakh crores) for a FGFA. And Russia, having the second largest airforce globally, doesn’t want to give up its secrets just yet. What’s the problem? The current bone of contention is devising the appropriate cost sharing formula. But, in the past issues have ranged from sharing information about the technology that goes into development to the number of aircrafts that will be produced. According to reports, the project could be binned altogether because the Air Force is no longer keen on chasing a project that’s become so expensive. And, this isn’t the <a href="https://www.defensenews.com/air/2017/05/24/steep-price-rise-hits-indo-russian-5th-gen-fighter-project/">first time</a>. But then again, Hindustan Aeronautics Ltd (HAL) has been <a href="https://economictimes.indiatimes.com/news/defence/hal-strongly-bats-for-fgfa-project-with-russia/articleshow/61189233.cms">pitching</a> furiously to get in on the ground level of the FGFA project. It should be noted, that overall, it’s more than just about the cost. India is adamant about the fact that they want equal partnership over the <a href="http://www.defensenews.com/breaking-news/2017/03/16/full-tech-transfer-could-derail-indo-russian-fifth-gen-fighter-program/">intellectual property</a> of the FGFA. It’s not out of ego, as per reports, but being sought so that the aircrafts can be upgraded as and when there is a requirement for adjustments. That being said, Russia is just as stubborn in saying that they aren’t ready to share critical technology. These sequence of events already led to reports of the project being <a href="http://www.janes.com/article/79457/india-withdraws-from-fgfa-project-leaving-russia-to-go-it-alone">scrapped</a> back in April. Aside from costs and <keyword id="388837" type="PERSON" weightage="20" keywordseo="intellectual-property">intellectual property</keyword>, officials said it was primarily due the fact that they were left <a href="https://www.business-standard.com/article/economy-policy/8-63-billion-advanced-fighter-aircraft-project-with-russia-put-on-ice-118042000029_1.html">unimpressed</a> with the Su-57, which is essentially the foundation for further development of the FGFA. (Representative image of the Su-57 prototype, on which the FGFA is based.)

Another nail in the coffin for India’s Fifth Generation Fighter Aircraft

<keyword id="6358064" type="General" weightage="100" keywordseo="isro" source="Orion">ISRO</keyword>'s Vikram Sarabhai Space Centre has conducted the Integrated Main Parachute Airdrop Test (IMAT) of its crew module deceleration system for the much-awaited maiden <keyword id="6797456" type="General" weightage="20" keywordseo="Gaganyaan" source="Orion">Gaganyaan</keyword> human spaceflight programme at the Babina Field Fire Range (BFFR) in Jhansi district of Uttar Pradesh. The IMAT conducted on Friday marks a significant milestone toward realising the nation's ambitious Gaganyaan project, the <keyword id="116095" type="General" weightage="50" keywordseo="indian-space-research-organisation" source="Orion">Indian Space Research Organisation</keyword> (ISRO) said in a statement. The Gaganyaan deceleration system consists of three main parachutes, besides the smaller ACS, pilot, and drogue parachutes, to reduce the speed of the crew module to safe levels during its landing, the space agency said. Two of the three main chutes are sufficient to land the astronauts on earth, and the third is redundant, ISRO said adding that the IMAT test simulated the case when one main chute failed to open. The IMAT test is the first in a series of integrated parachute airdrop tests planned to simulate different failure conditions of the parachute system before it is deemed qualified to be used in the first human spaceflight mission. In this test, a five-tonne dummy mass, equivalent to the crew module mass, was taken to an altitude of 2.5 kilometres and dropped using the <keyword id="15141" type="General" weightage="50" keywordseo="indian-air-force" source="Orion">Indian Air Force</keyword>'s IL-76 aircraft. Two small pyro-based mortar-deployed pilot parachutes then pulled the main parachutes. The main parachute sizes were initially restricted to a smaller area to reduce the opening shock. After seven seconds, the pyro-based reefing line cutters cut the area restricting line, allowing the parachutes to inflate fully. "The fully inflated main parachutes reduced the payload speed to a safe landing speed. The entire sequence lasted about 2-3 minutes as the scientists watched the different phases of the deployment sequence unfold with bated breath. There was loud cheer and applause as the payload mass landed softly on the ground and the gigantic parachutes collapsed," the statement read. The design and development of the parachute-based deceleration system is a joint venture of ISRO and the Defence <keyword id="73655" type="General" weightage="50" keywordseo="research-and-development" source="Orion">Research and Development</keyword> Organisation (DRDO). "The overall system design, analytical simulations of parachute deployment and crew module descent under various conditions, the design and development of ordnance devices for parachute extraction and ejection, assembly, mechanical and electrical integration of deceleration system, it's instrumentation and avionics for conducting this drop tests are done at ISRO's leading Research and Development centre, Vikram Sarabhai Space Centre (VSSC), Thiruvananthapuram," the space agency explained. Senior ISRO and DRDO scientists and airforce officers were present when the crucial test was done. "Besides proving the calibre of the scientists of ISRO and DRDO, the test also demonstrated the active coordination between the country's premier agencies, namely ISRO, DRDO, the Indian Air Force, and the Indian Army," ISRO said quoting a senior official. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/india-on-course-to-become-worlds-second-largest-economy-by-2050-says-gautam-adani/articleshow/95622223.cms">India on course to become world’s second largest economy by 2050, says Gautam Adani</a> <a href="https://www.businessinsider.in/entertainment/article/festive-releases-fail-at-the-box-office-but-theatres-pin-hopes-on-big-ticket-releases-to-return-to-pre-covid-glory/articleshow/95608276.cms">Festive releases fail at the box-office, but theatres pin hopes on big-ticket releases to return to pre-Covid glory</a> <a href="https://www.businessinsider.in/stock-market/news/all-is-not-that-well-say-market-experts-even-as-stocks-chase-new-highs/articleshow/95599973.cms">‘All is not that well’, say market experts even as stocks chase new highs</a>

ISRO conducts parachute airdrop test of Gaganyaan programme

<ul><li>It is unlikely that the budget allocation to the Armed Forces will increase dramatically this year, according to Sameer Patil, an expert in international security.</li><li>The lion's share of the budget will go towards the Army, leaving the Navy and the Air Force strapped for cash.</li><li>Patil told Business Insider that the Navy and the Air Force are forced to rely on imports since domestic products are usually inferior in quality or do not meet their requirements even though they don't have enough resources to pay for projects that are already underway.</li></ul>Budget allocation for India's Armed Forces always falls short of requirements. Even though the budget increases every year, most of it <a href="https://www.businessinsider.in/why-india-needs-more-defence-budget/articleshow/70082260.cms">goes toward revenue expenditure</a> to pay salaries and pensions. Even within the entire allocation, <a href="https://www.businessinsider.in/defense/news/indian-army-versus-military-spending-on-other-countries/articleshow/73182937.cms">the lion's share goes towards the Army</a> rather than the Navy or the Air Force, which are more technology-intensive. "The government will try and maintain the <a href="https://www.businessinsider.in/defense/news/india-defence-expenditure-in-2020/articleshow/72822974.cms">incremental growth</a> which they do every year but it will not be sufficient to meet the requirements of the armed forces — particularly for the Navy and the Airforce, where they're finding it difficult as it is even to make payments for the equipment that they have already started purchasing," said Sameer Patil, a fellow in international security studies at Gateway House — a think-tank based in Mumbai told Business Insider. 
 
 
 <div type="image" title="af5_edited" msid="73771070" hostid="261" caption="&amp;lt;p&amp;gt;Indian Air Force imported Apache helicopters from the US&amp;lt;/p&amp;gt;"></div>







 The <a href="https://www.businessinsider.in/defense/news/indias-budget-allocation-for-defence-has-remained-fairly-static-for-the-past-five-years/articleshow/73153930.cms">shrinking allocation of resources</a> means that a lot of the proposals that have already been cleared by the defence acquisition council are now being strapped. For instance, the Indian Navy was supposed to get four landing platform dock-type ship built in India. So far, it only has one -- the INS Jalashva, which it bought from the US. At the end of the day, they are left with no option but to import weapons and equipment. The domestic defence industry is either still developing products which are already available off-the-shelf abroad or producing products of inferior quality. The question of research and development It's not that domestic firms don't wish to invest in research and development (R&amp;D) but they lack incentives. Last year, the government allocated some funds to the Technology Development Fund. However, the money is insufficient to cover even a single project, according to Patil. In addition to scarce resources, the Defence Research and Development Organisation (DRDO) discourages private participation. "If the DRDO finds out that the private sector is engaging in any R&amp;D work, they will come and say that we will do the R&amp;D — because we have the experience and the necessary facilities, and we'll give you the final product," explained Patil. The government can't say no Once the DRDO steps in, the government isn't in a position to say no. For example, the Naval Light Combat Aircraft developed by the DRDO and <keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL) were rejected by the Navy four years ago. The Navy explained that they did not need the new choppers because they had already purchased Apache and Chinook from the US. Nonetheless, HAL is still pursuing the project. 
 
 
 <div type="image" title="af2_edited" msid="73770980" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;sup&amp;gt;&amp;lt;/sup&amp;gt;Two officers and five other IAF personnel were killed when an indigenous Dhruv advanced light helicopter crashed in a field near Sitapur in Uttar Pradesh in 2014&amp;lt;/p&amp;gt;"></div>







 "Which is why the armed forces are saying that they would prefer imports rather than rely on the DRDO. Because sometimes it's of inferior quality and sometimes it doesn't meet the requirements of the armed forces," said Patil. He feels that the private sector is more efficient and currently in the process of absorbing the requisite skills through joint ventures with American aerospace companies — like the Tatas with Lockheed Martin. However, they are not immediately expected to do so. Although defence indigenisation holds a lot of potential, it will take at least a decade or two to show results. 
 
 
 <div type="image" title="af3_edited" msid="73771105" hostid="261" caption="&amp;lt;p&amp;gt;The indigenous Tejas aircraft took 30 years to develop&amp;lt;/p&amp;gt;"></div>







 See also: <a href="https://www.businessinsider.in/defense/news/indian-army-versus-military-spending-on-other-countries/articleshow/73182937.cms">Here's how the budget allocation for Armed Forces in India stacks up on the global scale</a> <a href="https://www.businessinsider.in/defense/news/indias-budget-allocation-for-defence-has-remained-fairly-static-for-the-past-five-years/articleshow/73153930.cms">Budget 2020: Five charts that explain what you can expect from India's defence expenditure this year</a> <a href="https://www.businessinsider.in/defense/news/india-defence-expenditure-in-2020/articleshow/72822974.cms">India's ready to spend on defence — just not on modernisation</a>

The budget is unlikely to give more money for equipment, but the Armed Forces still want expensive imports over domestic products

<ul><li>Indian Air Force: A Cut Above was launched in July this year to inspire youth to join the IAF. </li><li>The game competes against nine other titles which have millions of downloads. </li><li>Voting for the ‘Best Game 2019’ awards is live now. </li></ul>Google has picked Indian Air Force’s video game to compete in the ‘Best Game 2019’ awards under the ‘Users’ Choice Game’ category. The IAF had launched a video game earlier this year in an attempt to attract and encourage the youth to join the airforce. The game ‘Indian Air Force: A Cut Above’ was launched on July 31 this year by the then Air Chief Marshal BS Dhanoa. The Indian Air Force <a href="https://twitter.com/IAF_MCC/status/1196613234771390464">took to Twitter</a> to urge its fans to vote for the IAF video game. The voting is currently underway, and it will go on for the next six days. <div type="twitter" handle="IAF_MCC" handlename="Indian Air Force" image="http://pbs.twimg.com/profile_images/798477907316207617/dMQAtlFj_normal.jpg" favoritecount="1174" retweetcount="224" status="IAF's Video game- 'Indian Air Force: A Cut Above' has been selected by #Google to compete for 'Best Game-2019' in '… https://t.co/0LKca7MpEq" createdat="1574129801000" id="1196613234771390464"></div>

 Tough competition ahead In the Users Choice Game <a href="https://play.google.com/store/apps/uservoting/Games%20-%20Best%20Of%202019%20User%20Voting%20Page?id=mc_bestof2019_uv_games_page">category</a>, the IAF video game is competing against nine other titles, including Call of Duty: Mobile, Angry Birds Dream Blast, RAID, Stick Cricket and more. Some of these games have racked up millions of downloads, so the IAF video game certainly has its task cut out. It is worth noting here that this is not the first video game made by the IAF. In 2014, the IAF had launched a game called ‘Guardian of the Skies’. The new IAF game is the sequel of sorts of the 2014 game, featuring improved graphics and technology. What is the IAF video game about? In the IAF video game, you play the character of Wing Commander Abhinandan Varthaman who had downed a PAF F16 in the aftermath of the <a href="https://www.hindustantimes.com/india-news/iaf-s-carries-out-laser-guided-strike-at-jaish-terror-camp-in-pakistan-sources/story-YDssaREtqFG0ZsAaSvIDgJ.html">Balakot airstrike</a>. In the ensuing dogfight, he crossed into Pakistani territory where his MiG-21 Bison was hit by a missile. He was captured by Pakistan and later released. A biopic is also being made on his incredible journey, and gamers can now impersonate him in the game, which can inspire the youth to join the forces.

Indian Air Force’s video game goes up against Call of Duty and Angry Birds in Google’s competition

<ul><li><keyword id="42900" type="ORGANIZATION" weightage="20" keywordseo="BrahMos">BrahMos</keyword> missile successfully tested its ‘life extension’ technology this morning. </li><li>It’s the first missile in the India’s war chest to have its life extended. </li><li>BrahMos also happens to be the world’s fastest <keyword id="417054" type="PERSON" weightage="20" keywordseo="supersonic-cruise-missile">supersonic cruise missile</keyword>. </li></ul>Today, India successfully <a href="http://www.rediff.com/news/report/india-successfully-test-fires-brahmos-supersonic-cruise-missile/20180521.htm">tested</a> the BrahMos supersonic cruise missile from a test range in <keyword id="6357961" type="LOCATION" weightage="20" keywordseo="odisha">Odisha</keyword>, a state along India’s eastern coast. Fired from launchpad 3 of the Integrated Test Range at <keyword id="58580" type="LOCATION" weightage="20" keywordseo="Chandipur">Chandipur</keyword> located near <keyword id="50861" type="LOCATION" weightage="20" keywordseo="Balasore">Balasore</keyword> in Odisha, the trial was conducted with the intention of validating the missile’s ‘life extension’ technologies. 
 
 
 
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 The missile’s successful life extension test makes BrahMos the <a href="http://www.newindianexpress.com/nation/2018/may/21/odisha-first-test-of-supersonic-cruise-missile-brahmos-with-life-extension-technology-successful-1817530.html">first weapon</a> in India’s arsenal that got its life extended from 10 years to 15 years. It managed to take off successfully and hit the designated target while meeting all parameters of the mission. What makes the BrahMos special is the fact that it’s the only supersonic cruise missile with advanced capabilities to allow the user to make a precise hit. In simple terms, its accuracy is its unique feature. Other than the missile’s life being extended, its range was also extended from 290 km to 450 km. This was a fortunate result of India gaining <a href="https://economictimes.indiatimes.com/news/defence/india-joins-mtcr-7-things-the-country-stands-to-gain/articleshow/52934056.cms">full membership</a> to the <keyword id="471445" type="ORGANIZATION" weightage="20" keywordseo="Missile-Technology-Control-Regime">Missile Technology Control Regime</keyword> (MTCR). BrahMos is currently the <a href="https://www.quora.com/in/Is-BrahMos-the-worlds-fastest-cruise-missile">fastest</a> supersonic cruise missile in the world. Its various models can be launched from land, air, sea or underwater. The two-stage missile has already been introduced into the army and navy inventories. Its entry into the air-force is awaiting a <a href="https://timesofindia.indiatimes.com/india/in-big-leap-towards-deep-surgical-strike-capability-brahmos-missile-successfully-test-fired-from-sukhoi-jet/articleshow/61757371.cms">successful</a> trial. There have been other contenders in the field but most haven’t seen any progress beyond the prototype stage. It should also be noted that though BrahMos is the fastest ‘supersonic’ missile, the <a href="http://nationalinterest.org/blog/the-buzz/why-china-russia-america-are-obsessed-hypersonic-weapons-25635">Zircon missile</a> can travel at hypersonic speeds and is already a part of the Russian military might. That being said, the <a href="https://www.ainonline.com/aviation-news/defense/2017-04-25/russia-and-india-test-hypersonic-and-supersonic-missiles">BrahMos 2</a> will be based on the design of the Zircon missile. It’s already in the works under a collaboration between India and <keyword id="6358826" type="LOCATION" weightage="20" keywordseo="Russia">Russia</keyword>. The estimation is that this missile will be able to travel at the speed of Mach 7.

India successfully test fires the fastest supersonic cruise missile in the world

<keyword id="6354416" type="ORGANIZATION" weightage="60" keywordseo="Indian-Army">Indian army</keyword> has once again shown its strength when they test-fired an advanced version of the <keyword id="42900" type="ORGANIZATION" weightage="100" keywordseo="BrahMos">BrahMos</keyword> <keyword id="43035" type="UNKNOWN" weightage="100" keywordseo="Missile">missile</keyword> at Chandan firing range in Pokhran, <keyword id="3658" type="COUNTRY" weightage="100" keywordseo="India">India</keyword> yesterday. The missile has deep penetration capabilities and can carry a <keyword id="1607732" type="UNKNOWN" weightage="100" keywordseo="warhead">warhead</keyword> up to 300 Kg in weight. The missile can be fired from Land, Sea or under-sea and also from the air. 
 The Indian army and <keyword id="42407" type="ORGANIZATION" weightage="100" keywordseo="Navy">navy</keyword> have already inducted the missiles in their respective commands and air-force will soon get it for their planes. The launch of the missile successfully showcased the deep penetration and accuracy capabilities of the weapon. CEO and MD of BrahMos, officials from MoD and scientists from <keyword id="6355142" type="ORGANIZATION" weightage="100" keywordseo="DRDO">DRDO</keyword> were present at the <keyword id="135251" type="UNKNOWN" weightage="40" keywordseo="Test-drive">test drive</keyword> of this missile. 
 
This missile has a range of 290 Km and will be a prized possession in the Indian armed force.

Indian Army Successfully Test-Fires BrahMos Missile

Considering the massive military modernization, OROP commitments and implementation of Seventh Pay Commission a hike is warranted in allocation in the upcoming Budget 2016 for Defense sector. 
	 
	Post the Gurdaspur and Pathannkot attack, the army’s main focus has been on border management. At present, it is more manpower oriented rather than technological. The border management needs a complete overhaul making it more dependent on state of the art technology. A lesson needs to be learnt from Israel whose border management is mainly monitored through technology and less on manpower. The internal security duties and frequent deployment for natural disasters too need to prepare a lot. 
	 
	More autonomy for Airforce? 
	 The air force is still dependent on the bureaucratic hurdle of getting the <keyword id="6381048" type="ORGANIZATION" weightage="20" keywordseo="Rafale">Rafale</keyword>. Even after the decision of buying the 36 fighters off the shelf, the negotiations are still on. It was expected to be signed during the visit of French President on republic day, but didn’t. The good news though is about the spectacular performance of home made Tejas at the recently completed Bahrain Air Show. Tejas, a 4.5 generation aircraft like Rafale, has always been insufficiently funded by the government and undermined by the IAF with periodic rewriting of ASRs. 
	 
	<keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> 
	 
	The Navy showcased its growing supremacy at the recently concluded International Fleet Review (IFR). The Navy has emerged as an effective tool of Indian diplomacy in past years, making it imperative for policy-makers to redefine the role of the nation’s naval forces in Indian strategy. The Indian Navy’s role is now changed from being local sea control and shore defense orientation, to a more aggressive naval posture. India needs blue water navy not only to meet emerging naval threats from Pakistan and China. It also has to safeguard strategic location at the center of the Indian Ocean as well as to protect its extensive exclusive economic zone. 
	 
	The Indian Navy also has a 15-year plan to achieve full indigenization in all phases of warship construction as a part of Make in India campaign. But it’s a real long time and the Navy to maintain its supremacy in Indian Ocean and to withstand the rising Chinese Navy’s ambition, still needs Submarines, Frigates and helicopters. 
	 
	Make in India 
	 
	Make in India has led to a lot possibilities for private partnership in defense which can bolster manufacturing sector. In a significant boost for the Indian Air Force, Phil Shaw, chief executive of Lockheed Martin India Private Ltd said "We are ready to manufacture F-16 in India and support the Make in India initiative," at the Singapore Airshow 2016. There have been lots of interesting deals that have been signed under Make In India campaign recently: 
	 
	1) BAE Systems to partner with Mahindra for assembling &amp; testing M777 howitzers 
	 
	2) Bharat Forge forms joint venture with Rafael; to manufacture high-tech defence components 
	 
	3)Mahindra, Airbus sign pact to form joint venture for military helicopters 
	 
	Defense allocation: India versus its neighbours 
	 In the neighborhood, Pakistan's defense budget has consistently been getting an almost double-digit growth meanwhile China maintains a defense budget which is three times the size of India. China’s dangerous adventures can gauged from the recent news that is has deployed surface-to-air missiles (<keyword id="694687" type="PERSON" weightage="20" keywordseo="SAMS">SAMs</keyword>) near a Chinese-held feature in the Paracel Island group. As reported by Fox News the missile deployment, based on analysis of satellite imagery; the news has since been confirmed by both the U.S. Department of Defense and Taiwan’s Ministry of National Defense (MND). 
	 
	Incidents of border stand-offs in the North and claiming of Aksai Chin are major irritants. Besides, India's traditional strategy to combat insurgency and terrorism remains military oriented. Combined with the ambition to extend our maritime sphere of interest, these potential threats will require India to give a boost in its defense spending. 
	 
	Looking at India’s neighborhood scenario the government needs to take a call whether it can or cannot hike the defense spending. Our defense strategy should be based on therealities of the money this government can actually spend. 
	 One also needs to look in to the fact that continued government’s fiscal deficit targets and the need to increase the budget allotment on Education, Health and policies for the poor farmers will also be deciding a factor if this Government can actually spend more than 2% of its <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> on defense. 
	 
	The article has been authored by defense analyst Sunil Rampore, who works as a leading consultant in defense and aerospace industry. 
	 
	Image Credit: Indiatimes.com

Budget 2016: Can the Indian defense forces get a little more than 2% of the GDP?

<ul><li>India’s senior most armed forces official, Chief of Defence Staff (CDS) <keyword id="2496903" type="PERSON" weightage="20" keywordseo="Bipin-Rawat">Bipin Rawat</keyword> believes that China is capable of launching cyber attacks that ‘large amount’ of India’s systems.</li><li>He also revealed that India’s best defence right now is to keep outage time limited when a breach does occur.</li><li>This comes at a time when the threats from China are increasing in aftermath of the clash between the two Asian giants on the Line of Actual Control (LAC).</li></ul>Wars in today’s day and age aren’t found on the battlefield but in cyberspace. Malware is ammunition, hackers and cybersecurity experts are the soldiers, and what they’re fighting over is data. While things may have cooled down between India and China on the ground, the cyber threat posed by the Dragon is still very much in play. “China is capable of launching cyber attacks on us that can disrupt a large amount of our systems,” General Bipin Rawat, India’s highest ranking armed forces official, told reporters on April 7. Harvard University’s National Cyber Power Index currently ranks China second in cyber power. Meanwhile, India is among one of the <a href="https://idsa.in/system/files/jds/13-3-2019-evolution-of-india-national-security.pdf">most cyber targeted countries</a> in the world. And for China, India is the number one target. <div type="Article" hostid="261" msid="77497819" title="After Jio, India's unicorn startups are the top target for Chinese hackers trying to get their hands on Indian users' data" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Chinese hackers have India’s power sector in its sights" comment="subhead" text="Chinese hackers have India’s power sector in its sights"><keyword id="149865" type="PERSON" weightage="20" keywordseo="Chinese-hackers">Chinese hackers</keyword> have India’s power sector in its sights</cmsannotation> Not only does India not have any offensive capabilities on hand, its defences are not foolproof. “While we’re trying to create firewalls against cyber attacks, we’re quite sure that they [Chinese hackers] will break through these firewalls,” Rawat said. That doesn’t bode well for India’s power sector, which is currently in the sights of Chinese state-sponsored hackers, according to a US-based cybersecurity firm, Recorded Future. The most recent example of the extent of disruption an attack on the power grid can cause was witnessnessed in October, last year. India’s financial capital was left reeling for hours as a power outage disrupted services in Mumbai. The chaos was allegedly caused by a new coalition of Chinese hackers dubbed ‘Red Echo’ by Recorded Future, a cybersecurity firm based out of the US. The company believes that these Chinese state-sponsored hackers have at least one connection that is still open. The link is most likely in the network system of an Indian maritime port, although Recorded Future did not specify which one. <div type="Article" hostid="261" msid="75796403" title="Chinese hackers are using backdoors to gain unrestricted access to companies and governments — and it’s not about the money" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="India needs to integrate resources across the armed forces to face cyber threats posed by China" comment="subhead" text="India needs to integrate resources across the armed forces to face cyber threats posed by China">India needs to integrate resources across the armed forces to face cyber threats posed by China</cmsannotation> According to Rawat, a plan is already in the works to address China’s growing prowess in the field of technology. For it to be successful, he opines that resources across all three pillars of the armed forces — the army, navy, and airforce — need to be integrated. “What we are trying to do is create a system in which we ensure cyber defence. And we have been able to create a cyber agency, which is our own agency within the armed forces… Each service also has its own cyber agency to ensure that even if we come under a cyber attack, the down time and the effect of the cyber attack does not last long,” Rawat explained. However, compared to China’s cyber capabilities, India still has a lot of catching up to do. China has been preparing itself for the fifth dimension of war for over two decades, and, according to Rawat, India is still in the midst of figuring out what it needs to do. <cmsannotation type="cmsannotation" annotationid="China has a long history of meddling with Indian servers" comment="subhead" text="China has a long history of meddling with Indian servers">China has a long history of meddling with Indian servers</cmsannotation> In 2008, Indian government officials told the <a href="https://timesofindia.indiatimes.com/india/China-mounts-cyber-attacks-on-Indian-sites/articleshow/3010288.cms">Times of India</a> that Chinese hackers were trying to break down servers on a daily basis — this included targets like the National Informatics Centre, the National Security Council and the Ministry of External Affairs. Even then, the real gap between the capabilities of the two Asian giants was that India did not have any offensive system in place. More recently, since the Galwan Valley clash — which escalated into a long, drawn out stand-off between the two Asian giants along the Line of Actual Control (LAC) — the number of threats coming in from China has only increased. According to Singapore-based cybersecurity firm, Cyfirma, there was a 200% increase in cyber attacks from China between May to June. <div type="Article" hostid="261" msid="76534204" title="Spurt in cyber attacks from China, over 40,000 cases in 5 days" mstype="2" mssubtype="0"></div> Even though the countries are currently in the process of disengaging and repairing their bilateral ties on the ground, disputes continue to brew in the airwaves. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/failed-stars-may-have-a-cosmic-speed-limit-to-how-fast-they-can-spin-otherwise-theyll-break-apart/articleshow/81963376.cms">'Failed stars' may have a cosmic speed limit to how fast they can spin — otherwise they'll break apart </a> <a href="https://www.businessinsider.in/stock-market/news/share-prices-of-tcs-hcl-tech-mindtree-and-other-it-stocks-are-on-fire-ahead-of-q4-earnings/articleshow/81961821.cms">The tech stocks binge is hotting up again with the second wave of COVID-19</a> <a href="https://www.businessinsider.in/science/space/news/osiris-exoplanet-was-formed-at-least-a-100-times-farther-away-from-its-sun-than-where-it-is-now-and-has-six-chemicals-in-its-atmosphere-to-prove-it/articleshow/81953394.cms">The first-ever exoplanet discovered was born at least a 100 times farther away from its Sun than where it is now — and has six chemicals in its atmosphere to prove it</a>

The Chinese cyber threat is real — and India’s best defence right now is to keep its outage time limited

<ul><li>The Indian Air Force<a href="https://economictimes.indiatimes.com/news/defence/operation-bandar-was-iafs-code-name-for-balakot-airstrike/articleshow/69889631.cms"> code named</a> the <keyword id="7366633" type="UNKNOWN" weightage="20" keywordseo="balakot-strike">Balakot strike</keyword> as <keyword id="7784856" type="UNKNOWN" weightage="20" keywordseo="operation-bandar">Operation Bandar</keyword>. </li><li>Sri Lanka named its first ever satellite, RAAVANA-1. </li></ul>India and Sri Lanka have been inspired by <keyword id="6373819" type="PERSON" weightage="20" keywordseo="ramayan">Ramayan</keyword> so much that they named their important missions after their characters. Hindu gods and goddesses are often a significant part of comic books, graphic stories in South Asian countries, especially the epicenter of the mythology-- India. And, these colourful stories inspire South Asians even today. The Indian Air Force<a href="https://economictimes.indiatimes.com/news/defence/operation-bandar-was-iafs-code-name-for-balakot-airstrike/articleshow/69889631.cms"> code named</a> the Balakot strike as Operation Bandar. Also island country Sri Lanka named its first ever satellite, RAAVANA-1. These two neighbouring countries’ ‘operations’ have something in common, a reference to the ancient Indian epic — Ramayana. And, opposing views! When the all-powerful Ravana who is known to be the King of Lanka abducted Lord Rama’s wife, the latter waged a war against him. And, Rama’s army consisted of thousands of monkeys, as per the ancient Sanskrit epic. Several historians suggested that Lanka referred to in Ramayana is today’s Sri Lanka,<a href="https://timesofindia.indiatimes.com/city/mangaluru/Present-day-Sri-Lanka-and-Ramayanas-Lanka-not-same-Scholar/articleshow/51898318.cms"> but it is yet to be proven so.</a> Operation Bandar The Indian Airforce code name for Balakot strike is ‘Operation Bandar’. Although the logic behind naming the operation remained a mystery, news Agency ANI <a href="https://economictimes.indiatimes.com/news/defence/operation-bandar-was-iafs-code-name-for-balakot-airstrike/articleshow/69889631.cms">said </a>that monkeys have “always held a special place in India’s war culture as seen in the epic Ramayana, where Lord Rama’s lieutenant Lord Hanuman (also a monkey) quietly sneaked into Lanka and destroyed the entire capital city of the demon Ravana”. Operation Bandar is modelled after the mythical Hanuman who sneaked into enemy territory. As many as 5,000 Indian Air Force personnel and 12 Mirage-2000 aircraft <a href="https://theprint.in/defence/iafs-balakot-strike-was-codenamed-operation-bandar-armys-operation-was-named-zafran/253001/">were reportedly</a> a part of Operation to cross Pakistan-occupied Kashmir and carry out strike early morning on 26 February in key training centres of the terrorist group <keyword id="119193" type="ORGANIZATION" weightage="20" keywordseo="Jaish-e-Mohammed">Jaish-e-Mohammed</keyword> in Balakot. The Prime Minister Narendra Modi too drew a reference between Lord Hanuman and the operation in one of his TV interviews saying that India is like ‘Bajrang Bali’ (yet another name for Lord Hanuman). Raavana-1 The arch enemy of Rama, Ravana is in vogue too. Sri Lanka <a href="https://qz.com/india/1648621/sri-lankan-ravana-1-satellite-named-after-hindu-mythology-villain/">has named </a>its first ever satellite after the biggest villain of Hindu mythology. Raavan whose figurines are burnt as a part of Indian festivities, has a different place in Sri Lanka which is believed to have been ruled by him. Ravana is believed to be the direct descendant of one of Gods of the Hindu Holy Trinity’s Bramha. Ravana who is also a demon king is known to have waged and won many wars, turning his country so prosperous that some of his cities were made of gold. For the Hindu minority in this majorly Buddhist country, Ravana is no villain. The RAAVANA-1 was launched with two other BIRDS 3 satellites from Japan and Nepal. It is expected to orbit 400 km away from earth and will have a lifespan of one and a half years.

There’s an unusual connection between India’s Balakot mission and Sri Lanka’s first ever satellite — the epic Hindu Mythology, Ramayana

Drums as loud as thunderclaps and then as soft as psalms, the sounds of the shehnai matching tunes with that of bagpipes are being heard at Vijay Chowk, as this beautiful entry to the Raj Bhawan readies itself for the <keyword id="102291" type="UNKNOWN" weightage="20" keywordseo="Beating-Retreat">Beating Retreat</keyword> ceremony at Vijay Chowk today. 
 For years, the celebrations of <keyword id="6416557" type="PERSON" weightage="20" keywordseo="Republic-day">Republic Day</keyword> comes to a close with this grand ceremony. In earlier times, it was sounded by the buglers as a signal to soldiers engaged in battle to cease their fighting, sheath their weapons and “retreat” from the battlefield. The bugle was also used in military towns to recall soldiers to their quarters in the evenings. 
 
It has since been celebrated every year with the Army, Navy and Air-Force joining hands to come out together and put up a lavish show for audiences. They stand smartly side by side, waiting to welcome the President as bejewelled camels take their positions atop the ramparts of the South and North blocks. The distant sound of horses' hooves starts getting louder and the President's entourage, including 46 bodyguards mounted on beautiful brown and white horses, arrives. The President takes the place in front of the defence chiefs. The singing of the National Anthem and the unfurling of the Tricolour signals the start of a spectacle. 
 
There are a spate of performances that follow we shall not reveal till you watch it yourself. The best part, however, is when the North and South blocks light up with yellow light, providing a fitting ending to the grandeur associated with Republic Day. 
 
If you have never witnessed the Beating Retreat Ceremony, here’s a glimpse into the show held last year.&lt; 
WHAT’S IN STORE THIS TIME? 
 
This year, 15 Military Bands, 18 Pipes and Drums Bands from Regimental Centres and Battalions are participating in the ceremony. Besides one each of Indian Navy and Indian Air Force band will also form part of the event and for the first time, bands from the State Police and Central Armed Police Force will also perform at the ceremony. 
 
Delhi Traffic Police has made elaborate arrangements keeping the ceremony in mind. According to an advisory. Vijay Chowk will remain closed today for general traffic from 3.30 to 9.30 PM. The traffic will not be allowed on the stretches on Rafi Marg and Raisina Road and the entry and exit at Udyog Bhawan and Central Secretariat Metro Stations on Delhi Metro's Yellow Line will remain closed from 2 PM to 6.30 PM. 
 
Services on all other lines will be available as per normal schedule throughout the day.

The Beating Retreat: Grandeur of Vijay Chowk returns as Rashtrapati Bhawan lights up again amid sounds of Shehnai

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;ALID=2C0FQEX26RM8#/SearchResult&amp;ALID=2C0FQEX26RM8&amp;VBID=2C0FC01C3NJM&amp;POPUPPN=8&amp;POPUPIID=2C0FQEXZQJI6">Reuters/Anindito Mukherjee</a>Indian Air Force soldiers during the full-dress rehearsal for Indian Air Force Day at the Hindon air-force station on the outskirts of New Delhi.</div></div></div>Here is what you need to know.AB InBev upped its takeover off for SABMiller. Anheuser-Busch InBev has raised its takeover bid for its rival SABMiller to $103.9 billion. <a href="http://www.businessinsider.com/anheuser-busch-inbev-bids-68-billion-or-sabmiller-2015-10?r=UK&amp;IR=T">The latest offer equates to $64.30 per share</a>, up from the previous two offers of $57.96 and $61. SAB said AB InBev was "very substantially undervaluing SABMiller." It appears SAB is likely to reject the offer. Volkswagen is planning a big recall. <a href="http://www.businessinsider.com/r-volkswagen-ceo-says-recall-to-start-in-january-be-completed-end-2016-2015-10">Volkswagen plans to recall the cars affected by its diesel-emissions crisis</a>. CEO Matthias Müller told the Frankfurter Allgemeine Zeitung (FAZ): "If all goes according to plan, we can start the recall in January. All the cars should be fixed by the end of 2016." The size of the recall has not yet been announced.Yum Brands missed on the top and bottom lines. The fast-food giant announced <a href="http://www.businessinsider.com/yum-brands-q3-earnings-2015-10">earnings of $1.00 per share</a>, missing Bloomberg's consensus estimate of $1.06. Revenue edged up 2.2% compared with a year ago to $3.43 billion, which was shy of the $3.67 billion that was anticipated. CFO Greg Creed said that the second half of the year had been bumpier than expected for the company's China division but that same-store sales (sales at stores open at least a year) still increased 2%, and restaurant margins were 20%. Shares are down 17% in premarket trade.Samsung's quarterly profit surged. The electronics maker saw <a href="http://www.businessinsider.com/afp-samsung-flags-nearly-80-jump-in-q3-operating-profit-2015-10">quarterly profits climb nearly 80%</a>, boosted by sales of chips and TVs. Samsung's flagship smartphone business struggled as consumers favored devices other than the Galaxy S6. According to AFP, Samsung's quarter was helped by the weak Korean won, which is down 12% year-to-date versus the dollar. Shares of Samsung rallied almost 9% in South Korean trade.The IMF cut its global growth forecast. The International Monetary Fund sees <a href="http://www.imf.org/external/pubs/ft/survey/so/2015/RES100615A.htm">global growth of 3.1% in 2015</a> and 3.6% in 2016, down from its previous forecasts of 3.3% and 3.8%, respectively. According to the IMF, 2015 looks as if it will be the worst year for the global economy since 2009, the heart of the financial crisis. For the US, the IMF sees 2015 growth of 2.6% and 2016 growth of 2.8%. "Near-term economic growth still looks stronger in advanced economies, compared with the recent past, but weaker in the emerging market and developing economies," the report said. As for China, the IMF sees 2016 growth of 6.3%, its weakest in a quarter century.The Bank of Japan kept policy on hold. In a vote of 8 to 1, Japan's central bank refrained from expanding its asset-purchase program despite growing fears of a slowdown in the Japanese economy. In <a href="https://www.boj.or.jp/en/announcements/release_2015/k151007a.pdf">its statement</a>, the BoJ noted, "Exports and industrial production have recently been more or less flat, due mainly to the effects of the slowdown in emerging economies." The central bank continued, "The year-on-year rate of change in the CPI is likely to be about 0 percent for the time being, due to the effects of the decline in energy prices." The Japanese yen is little changed near 120.05 per dollar.UK data was mixed. Industrial production surged 1% month-over-month, beating the 0.3% gain that was expected. The strong August reading has industrial output up 1.2% compared with last year. Meanwhile, <a href="http://www.businessinsider.com/uk-august-industrial-production-figures-2015-10?r=UK&amp;IR=T">manufacturing production climbed 0.5% MoM</a>, but a large revision to the previous data left the year-over-year reading down 0.8% over the past 12 months. The British pound is stronger by 0.6% at 1.5313.Stock markets around the world are firm. Germany's DAX (+0.8%) paces the gain in Europe after Hong Kong's Hang Seng (+3.1%) led the advance in Asia. China's Shanghai Composite remained closed for Golden Week. Here in the US, S&amp;P 500 futures are up 9.00 points at 1,977.50.US economic data remains slow. Crude-oil inventories will be released at 10:30 a.m. ET, and consumer credit will cross the wires at 3 p.m. ET. Treasury will reopen $21 billion 10-year notes at 1 p.m. ET. The US 10-year is higher by 4 basis points at 2.07%.Earnings reports pick up a bit. Constellation Brands, Global Payment, Monsanto, and RPM Inc. all report ahead of the opening bell. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/hands-on-microsoft-surface-book-2015-10">We got a hands-on look at the Surface Book - Microsoft's first-ever laptop everyone's freaking out about</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZoYjgyeDoCotQa-XLKFQxMbt5S5Gq4J_" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before the opening bell

The Union Government is formulating the budget to be announced on February 29, 2016. The officials in Ministry of Finance are busy with budgetary consultations. At the outset, it needs to be recognised that the Budget, especially the <keyword id="6360189" type="COMPANY" weightage="20" keywordseo="Union-Budget">Union Budget</keyword>, is more than a mere accounting exercise as it lays out a vision of the Government and then on a mission mode, provides a strategy to implement it during the course of that year or next. In fact, to achieve steady growth, fiscal policy of the country is embodied in the Union Budget. And the challenges in fiscal policy are a many which needs to be addressed immediately. The important concerns are that despite best efforts, industrial growth continues to be tepid; unemployment, especially amongst youth is high; agricultural output because of El Nino and other climatic conditions is low; consumer inflation is heading northward; and overall growth in the country is beginning to stagnate around 7- 7.5 percent when country has a potential to grow at 9 percent per annum. 
 
The Central Government is aware of the situation and has consistently been making efforts to revive the economy by announcing schemes like start-up India, MUDRA, Jan Dhan Yojana, make in India, Skill India, Digital India, and Smart Cities. The implementation of these schemes have yet not yielded higher growth. Therefore, probably, the Union Budget of 2016 needs to exclusively focus on measures to increase growth. To increase national output, three ingredients are most important – labor, capital and entrepreneurship. 
 
Women Participation in Workforce 
There are numerous empirical, studies that have demonstrated that increased female workforce participation can lead to significant macroeconomics gains. Similarly, equal access to inputs by women would raise productivity of female-owned companies. Further getting women to work would also help in improving the per capita income of the country. Increased income by women also leads to reduction in income equalities, as well as poverty. 
 
The participation of women in labour force can lead to increasing GDP of India by 27 per cent according to research done at International Monetary Fund, Washington, DC. In India, only about 30 percent of women are in workforce. In contrast, in Nepal, nearly 80 percent of women are in the workforce followed by China (71 per cent), Bhutan (67 per cent), and Russia (57 per cent). Closely co-related to low workforce participation are issues like persistency in preference for a male child reflected in adverse sex-ratio. As per the Census data, the state-wise child sex ratio (CSR; number of females per 1000 males in 0-6 year’s age group) in India during 2001-2011 has deteriorated though overall sex ratio recorded a marginal improvement over the years. 
 
To enhance female workforce participation, the Government could also consider more recruitment of women in armed and police forces. According to some estimates, women constitute only 3 percent of police force in India and a small number in Indian army. In contrast, women play an important role in armies of many countries, including the US, Israel, China, Russia, Sri Lanka and Pakistan. India could consider Sainik and Military schools/colleges for training female students and National Cadet Corps can be extensively used in colleges and Universities to show-case job opportunities in defence areas. 
 
There is substantial potential of jobs in defence forces. Illustratively, in the recent Central Seventh Pay Commission Report, it was mentioned that Indian Army is short of officers by nearly 25 percent while Navy is short by 17 percent and Air-Force by 4 percent. The defence forces have a provision of short service commission (SSC) which can be tailor-made to suit the psychology of Indian families which insist that females should get married and start their own family before thirty years of age. The SSC, with a provision of 5 or ten years of service is most suitable in such circumstances in India. 
 
Similarly, judiciary suffers from serious shortage of courts and legal staff especially in international comparison. It would be useful to have more female participation in legal services. This effort of encouraging women to work in defence and judiciary may also help in making India a safe place for women. 
 
To enhance female workforce participation, another out-of-the-box view needs to be considered. It is established that women generally demonstrate responsible behaviour in financial matters and their income is generally used to finance family expenditure. Therefore, the Government could consider offering higher or complete exemption from income tax for women participating in workforce. As the income earned by women is spent on family expenditure, and more women will be encouraged by this measure to enter the workforce, indirect tax collection on goods and services would improve, and therefore, in net, not impact the national or state fisc. Similarly, to incentivise female participation in self-employment, especially under micro, small and medium enterprises (MSMEs), tax holiday could be offered to MSMEs run by women entrepreneurs. The Government could also consider special provisions for women entrepreneurs and longer tax holidays under SUI, announced recently. 
 
Capital Mobilisation 
To provide opportunity to monetize gold, and financial resources for developmental activities, in a resource constraint economy, the Government had launched Gold Monetisation Schemes (GMS), including Gold Sovereign Bonds (GSB) in November 2015. The response is tepid with less than 4 tonnes of gold mobilised in last few months, and mobilisation seems miniscule compared to nearly 1,000 tonnes that the country imported annually, and holds a stock of nearly 21,000 tonnes. The reasons for the lacklustre response of GMS are manifold. The need is to actively extend the campaign to households, may be through use of vernacular press and electronic media. Also, from the market, the feedback on the scheme suggests that there are problems with collection and assessment of value, as only about 54 assayers in 30 cities are recognised, nation-wide. To make the scheme market friendly, assaying could also be assigned to select jewellers, especially branded chains, to ensure presence in at least all districts. To incentivize collection of gold, commission that is being offered to commercial banks, 2.5 percent including handling charges, could also be offered to select jewellers. 
 
Nurturing Entrepreneurship 
To nurture entrepreneurship, the Government has launched the Start-up initiative (SUI) which is expected to take India in the much needed fast forward ‘job-creation’ mode. India is poised to be the fastest growing economy in the world according to the IMF, and expected to average about 8 per cent in next five years. In addition, India has a very young population and the demographic dividends are waiting to be tapped. 
 
More importantly, young population of India, in substantial numbers, generally wastes 2 to 5 years of their age in preparing for competitive exams for government jobs. The number of years lost in such preparation, generally in vain for most students, could have been used more productively. As a matter of fact, seminal work done by research scholars which many times fetches them coveted Nobel Price is undertaken at young age, when taking risk in extending the frontiers of knowledge is easier. The SUI would be helpful in tapping that young age and creative mind for building industrial base of the nation. For the success of SUI, there is need to create an eco-system to produce entrepreneurs. The emphasis of the government should be setting up more world-class colleges, across India, specializing in commerce, law and business studies. The educational requirements of nurturing entrepreneurs is very different from producing managers and administrators for which our present educational system already has world ranking management institutes. India, now needs, world-class institutes on entrepreneurship, illustratively, Indian Institute of Entrepreneurs. 
 
Further, in Indian system of education and training, tolerance of failure is low but in Silicon Valley, in contrast, the practicing mantra is that failures are pillars to success. In fact, angel investors are more comfortable funding entrepreneurs who have failed in their maiden attempt. Such failures help to steel resolve, build passion to stay ahead of the race, and strengthen faith to face fierce competition as well as undertake meticulous planning. More than the young, mentors, parents and teachers also need to understand that SUI will result in some set-backs and should not get discouraged. To address the fear of failure, there is need to have a fall-back mechanism, and therefore the Government can consider some form of social security for entrepreneurs which could take a shape of insurance against such failures. In the US, in view of social security, the fear of failure is reduced, and therefore risk taking and entrepreneurial activity abounds. 
 
Conclusion The Union Budget needs to show way forward for an economy which is beginning to lose growth potential despite various policy initiatives. In addition to traditional tweaking of taxes and expenditure, there is need to formulate a vision or a long term fiscal policy to help steady <keyword id="47288" type="UNKNOWN" weightage="20" keywordseo="expectations">expectations</keyword> for growth initiatives from the government. That will help create conducive environment for private sector to flourish and take India on a higher growth path. 
 
 (The article is authored by Professor Charan Singh. He is the RBI chair professor of Economics at <keyword id="19478" type="CITY" weightage="20" keywordseo="IIM">IIM</keyword> Bangalore. He was a Visiting Fellow at Stanford University and Harvard University. Currently, he is also a consultant for IMF and his previous professional appointments include senior economist IMF , Director ( research department and debt management) at RBI)

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