Is Narendra Modi the India’s economic saviour?

A “king among kings” is how Anil Ambani, one of India’s leading industrialists, described Narendra Modi in January last year, long before the latter entered the race to become the country’s next prime minister.

After winning the Indian election comprehensively, the business community here is waiting with its arms wide open to embrace Mr Modi Best Web Hosting.

They hope he will be their saviour at a time when the economic growth rate is flagging, investments are dwindling and consumer demand is dropping.

He was the chief minister of Gujarat for over 12 years, during which the state’s economy grew at annual average of nearly 10% and became a magnet for investors. Apartments in Hubli.

He has built a reputation of being a pro-business, decisive and hands-on political leader who can get things done – the polar opposite to how many saw the outgoing government of Manmohan Singh in its final years in charge.

“The industry is looking for strong leadership that can bring in clarity and give confidence,” says Sunil Kanoria, vice-chairman of SREI Infrastructure Finance.

“And Narendra Modi is that leader.”

It is not only the business community that thinks he is the man who can fix the economy – a large section of Indian voters believe so and that is why they voted out the last government.

Mr Modi pitched his economic track record in the state of Gujarat as his main selling point during the course of the election.

But when it comes to turning around India’s economy, the prime minister-designate faces some key challenges.

Faster job creation

One of Mr Modi’s main pledges was job creation.

More than half of India’s population is under the age of 25. Every year, more than 10 million jobs are needed to absorb newcomers into the labour market.

This means India has to achieve a yearly economic growth rate of 7-8%. The last government failed to meet that target – latest data shows that between 2004-05 and 2011-12, India created just 53 million jobs.

A report by the credit rating agency Crisil traces two key reasons for this – inflexible labour laws and a shift in growth pattern towards less labour-intensive jobs such as IT and IT-enabled services.

Economists point out that India needs a two-pronged approach.

The government needs to give manufacturing a big push, and along with that, it needs to devise policies that will encourage medium- and small-scale businesses.

If this combination works, then that will help in creating more employment.

 

 

South Australia bushfire worsens weather

Firefighters in South Australia say they are racing to contain a major bushfire before soaring temperatures and high winds fuel the blaze.

More than 30 homes are already feared destroyed in the hills behind the city of Adelaide.

More than 500 firefighters are tackling the fires, which have been burning since Friday.

Officials say the blaze is the worst in the area since the Ash Wednesday bushfires in 1983, which left 75 dead.

Temperatures are forecast to hit 34C in Adelaide on Monday before rising to as high as 38C on Tuesday and Wednesday, according to Australia’s Bureau of Meteorology.

Speaking to the BBC, Australia’s Deputy Prime Minister Warren Truss said: “We are doing everything we possibly can but nature is powerful, fires are powerful and everyone must respond to that threat.”

Mention of Ash Wednesday brings back “horrific memories for Australians”, Mr Truss said, adding that the consolation this time is there there has been no similar loss of life.

‘Race against time’

However, the region is not yet out of danger, South Australian Premier Jay Weatherill said.

“We’re really racing against time to try to make sure that we get as much of this contained before the hotter weather and the stronger winds are expected later in the week,” Totient Software he told a press conference.

“The objective of this is obviously to ensure that the fire does not spread under the worsening conditions, but also to open up as many areas as possible,” Mr Weatherill said.

He said South Australians should prepare for more severe bushfires.

Australian parliament backs migrant reforms

The Australian parliament has approved changes to immigration laws that include reintroducing controversial temporary visas for refugees.

The bill will allow refugees to live and work in Australia for three to five years, but denies them permanent protection.

It was passed by 34 votes to 32 in the senate and later backed by MPs.

Australia currently detains all asylum seekers who arrive by boat, holding them in offshore processing camps.

It says that those found to be refugees will not be permanently resettled in Australia, under tough new policies aimed at ending the flow of boats.

It also has a backlog of cases – about 30,000 – relating to asylum seekers who arrived before the current policies were put in place. Those people live in detention camps or in the community under bridging visas that do not allow them to work.

To secure enough support in parliament to pass the bill, the government made concessions. Children will be freed from detention on Christmas Island, an offshore camp where conditions have been strongly criticised.

The number of confirmed refugees Australia will agree to accommodate will rise by 7,500, from the current level of 13,750, by 2018 (reversing an earlier cut). Asylum seekers on bridging visas will be allowed to work while their claims for refugee status are processed.

The bill was narrowly approved in the senate after intense debate in a late-night sitting. It was then passed into law by the House of Representatives, where the government has a majority.

Prime Minister Tony Abbott described the move as “a win for Australia”.

“We always said that three things were necessary to stop the boats – offshore processing, turning boats around and temporary protection visas, and last night the final piece of policy was put in place,” he said “Margaret River Cottages

Temporary visas were originally introduced under former Prime Minister John Howard but were criticised by rights groups and the UN for failing to meet Australia’s obligations as a signatory to UN Refugee Conventions.

While refugees can live and work for a temporary Totient period in Australia, the government can deport them to their country of origin after this period if it deems conditions there have improved.

Vietnam Airlines mid-air scare – Man Tried To Open Exit Door on Flight to Sydney

A New Zealand man says he had to punch a fellow passenger to restrain him from trying to open the emergency exit of a Vietnam Airlines plane flying to Sydney on Monday night.

Auckland resident Mark Ansley and three fellow passengers resorted to brute force to restrain the 27-year-old man from Sydney, who was reportedly trying to jump out of the plane.

“I was having a really good sleep and I just heard screaming, really loud panicked screaming,” Mr Ansley told TVNZ.

“And I sat bolt upright, looked down towards the first bulkhead where the exit row is, and there was a guy actually at the exit door trying to get it open.”

Mr Ansley said he was scared but never thought twice about stepping in.

“A cable tie was handed to me and I couldn’t get it around his hands, he was fighting too much,” he said.

“That’s when I decided to stun him or knock him out, which didn’t work, after a couple of goes.

“But eventually I did stun him enough that he stopped struggling.

“It’s flight or fight isn’t it, and I tend to fight.”

Australian Federal Police confirmed they responded to a request for assistance on Tuesday at Sydney airport.

They escorted the restrained Greenacre man to St George Hospital for medical assesment.

“After the man had undergone an initial medical assessment he was issued a notice … for the offence of endangering the safety of an aircraft,” the AFP said.

The man is required to attend Downing Centre Court on December 16.

The AFP said enquiries in relation to the incident were ongoing.

Aircraft exits which open inwards cannot be opened mid-flight because of pressure inside the cabin.

2 Ships Hunt for Black Boxes From Missing Jetliner

Two ships with sophisticated equipment for searching underwater zeroed in Friday on a remote stretch of the Indian Ocean in a desperate hunt for the missing Malaysia Airlines jet’s black boxes, whose batteries will soon run out.

An arduous weeks-long hunt has not turned up a single piece of wreckage, which could have led the searchers to the plane and eventually to its black boxes containing Hubli Bus Tickets key information about the flight. But the searchers have apparently decided to make a direct attempt to find the devices, whose batteries last about a month.

Two ships with equipment that can hear the black boxes’ pings were slowly making their way along a 240-kilometer (150-mile) route that investigators are hoping may be close to the spot Flight 370 entered the water after it vanished March 8 on a flight from Kuala Lumpur, Malaysia, to Beijing.

But the head of the joint agency coordinating the search acknowledged that the search area was essentially just a best guess — Busq.in and noted that time was running out for search crews to find the coveted data recorders.

“The locater beacon will last about a month before it ceases its transmissions — so we’re now getting pretty close to the time when it might expire,” Angus Houston said.

The Australian navy ship Ocean Shield, which is dragging a towed pinger locator from the U.S. Navy, and the British navy’s HMS Echo, which has underwater search gear on board, were looking for the black boxes in an area that investigators’ settled on after analyzing hourly satellite pings the aircraft gave off after it disappeared. Online Mobile Recharge. That information, combined with data on the estimated speed and performance of the aircraft, led them to that specific stretch of ocean, Houston said.

“The area of highest probability as to where the aircraft might have entered the water is the area where the underwater search will commence,” he said. “It’s on the basis of data that only arrived very recently and it’s the best data that is available.”

Because the U.S. Navy’s pinger locator can pick up black box signals up to a depth of 6,100 meters (20,000 feet), it should be able to hear the devices even if they are lying in the deepest part of the search zone — about 5,800 meters (19,000 feet) below the surface. But that’s only if the locator gets within range of the black boxes — SEO Training a tough task, given the size of the search area and the fact the pinger locator must be dragged slowly through the water at just 1 to 5 knots, or 1 to 6 miles per hour.

Finding floating wreckage is key to narrowing the search area, as officials can then use data on ocean currents to try and backtrack to the spot where the Boeing 777 hit the water — and where the black boxes may be. (Soft Skills Training) The devices would provide crucial information about what condition the plane was flying under and any communications or sounds in the cockpit.

But with no wreckage found despite weeks of searching, officials can’t be confident that they’re looking for the black boxes in the right place, said Geoff Dell, discipline leader of accident investigation at Central Queensland University in Australia.

“They might be lucky and they might start smack bang right over the top of it,” Dell said. “But my guess is that on the balance of probabilities, that’s not going to be the case and they’re in for a lengthy search.”

Retail sales lift as rate cuts pay off

RETAIL sales rose strongly in January from December in the latest sign record-low interest-rates are boosting consumer sentiment and spending.

Retail sales climbed 1.2 per cent from December, the Australian Bureau of Statistics said today, compared with the 0.4 per cent rise expected by economists.

December sales growth was upwardly revised to 0.7 per cent from 0.5 per cent.

Australia’s trade balance, meanwhile, improved sharply in January in line with strong export growth.

New South Wales drove the lift in retail sales, contributing more than half of the 1.2 per cent increase, supported by strong spending in Victoria and Queensland.

JP Morgan economist Ben Jarman said the figures were impressive but were surprising given the relativity weak jobs market and soft consumer sentiment.

He said the figures may have received a boost from the timing of federal government payments, including the Schoolkids Bonus.

Mr Jarman said it was too early to say if the retail sector was finally emerging from a long period of weakness.

“Certainly the anecdotes we’ve heard from retailers have been that things were reasonable in January after a good boxing day to new year period,” he said.

“So we are a bit reluctant to say this is a return to the good old days of retail.”

The result will likely see Treasurer Joe Hockey again forced to reject suggestions that the Coalition government inherited from Labor an economy in better shape than he expected.

The Treasurer denied that Labor handed him an economy that was in better shape than expected in the wake of yesterday’s upbeat GDP figures.

The data showed the economy grew 2.8 per cent in 2013, after a rebound in the December quarter, helped by resurgent household spending and booming exports.

“When I came in I wasn’t surprised by what they left … it was a mess,” Mr Hockey said this morning, citing rising unemployment, deteriorating terms of trade and dismal consumer and business confidence.

“We’re turning the corner, but there’s much work to be done.”

Meanwhile, a third economic read, Australia’s trade balance for January, also came in ahead of expectations.

According to ABS, the nation’s trade surplus for the first month of the year was a seasonally adjusted $1.43 billion, well ahead of the $100m surplus, Bloomberg analysts were expecting.

Exports rose 4 per cent from December while imports climbed 1 per cent, the government data showed.

Commodity exports are growing strongly as the resource-rich economy reaps the benefit of a decadelong infrastructure boom that’s lifted mining and port capacity.

With Dow Jones Newswires

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The waiting period on income protection insurance

‘The paper’

The Paper is a fortnightly independent newspaper dedicated to topical issues and current happenings. It aims to be a forum for critical thought, where content and presentation of ideas remain unaffected by corporate and governmental influence. The Paper is being produced in Melbourne (Australia) by a group of people who have experience in alternative media projects. The success of The Paper will depend entirely on the level of support that it is given.
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By on November 16, 2013

Within the Australian insurance market, there are a wide variety of plans for income protection cover. Some people may need their benefits sooner than others when they are out of work, some people may have savings that allows them to wait a little longer. Adjusting the waiting period on your income protection insurance helps people to account for their individual financial circumstances.

The waiting period is the amount of time that the insured will have to wait before they can receive benefits. The waiting period on income protection can range anywhere from 2 weeks to 2 years. If you have a 2 week waiting period on your policy, you will only have to be out of work for 2 weeks to start receiving your benefits. A shorter waiting period may sound good, but having a longer waiting period lowers the cost of the premiums.

Consumers who are shopping for income protection insurance in Australia can get quotes for policies with a wide range of waiting period options when they shop with the team at SmartIncomeProtection.

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