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Saturday, January 4, 2020

economic news of india - world economic news - economics news for students - indian economy news

economic news of india - world economic news - economics news for students - indian economy news


Despite tax cut, you mustn’t miss targets: Modi to taxmen

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By Vrishti BeniwalIndia's Finance Ministry has delivered a challenge to its revenue collectors: meet tax targets despite $20 billion of corporate tax cuts.Through a video conference on Dec. 16, officials were exhorted to meet the direct tax mop-up target of 13.4 trillion rupees ($187 billion), a government official told reporters. Collection in the eight months to November grew at 5% from a year earlier, against the desired 17%.The missive shows Prime Minister Narendra Modi's urgent need to buoy public finances in a slowing economy where April-November tax collections were half the amount budgeted. Authorities withheld some payments to states and have capped ministries' expenditure as the fiscal deficit ballooned beyond target.The government's efforts to maintain its deficit goal goes against advice from some quarters, including central bank Governor Shaktikanta Das, who urged more spending to spur economic growth. 73104592 It's uncertain though how much room Modi's administration has to boost expenditure, given that it may already be borrowing as much as 540 billion rupees through state-run companies, a figure that isn't reflected on the federal balance sheet. Uncertainty about public finances pushed up sovereign yields in November and December, compelling Das to announce unconventional policies to keep costs in check."This is not a time to conceal the fiscal deficit by off-budget borrowing or deferring payments," said Indira Rajaraman, an economist and a former member of the Reserve Bank of India's board. "If they were to stick to the target, that would be catastrophic because there is so much pump priming that is needed right now."India's gross domestic product grew 4.5% in the quarter ended September, the slowest pace in more than six years as both consumption and investments cooled in Asia's third-largest economy. Only government spending supported the expansion, piling pressure on Modi to keep stimulating.S&P Global Ratings warned in December it may downgrade India's sovereign ratings if economic growth doesn't recover. 73104594 Government support seems to be waning now, with ministries asked to cap spending in the final quarter of the financial year at 25% of the amount budgeted rather than 33% allowed earlier. This new rule will hamstring sectors including agriculture, aviation and coal, where not even half of annual targets have been disbursed.As the federal government runs short of money, it's been delaying payouts to state administrations. Private hospitals have threatened to suspend cash-less services to government employees over non-payment of dues, while a builder informed the stock exchange about delayed rental payments from no less than the tax office itself.Finance Minister Nirmala Sitharaman has refused to comment on the deficit goal before an official presentation due Feb. 1.A deviation from target, if any, "will need to be balanced with a credible consolidation plan further-out," said Radhika Rao, an economist at DBS Group Holdings Ltd. in Singapore.--With assistance from Subhadip Sircar.

How delivery apps have created jobs

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Key to a great online shopping experience is the final delivery of that box home — on time, always, intact — come rain, hailstorm, blistering summers or the cold wave currently sweeping across most of north India. The experience that starts on a shopping app ends with a delivery agent knocking on the door. Unlike brickand-mortar retail, where buyers get to see and feel the product before buying, online shoppers wait impatiently for the delivery boy to arrive so the package can be opened."Behind all the tech wizardry, it is the courier boy who is key to ecommerce running smoothly," says Devangshu Dutta, CEO of Third Eyesight, a consulting firm specialising in retail. "Millions of dollars have been poured into gaining market share and now there is a race to improve services so buyers keep returning to the app and don't have to worry about late deliveries." Untitled Carousel 73100994 Keeping the $30 billion ecommerce engine running smoothly are lakhs of delivery agents zipping around on two-wheelers in the metros as well as smaller cities such as Nagpur, Coimbatore, Vizag and Mathura, with boxes and food carts.The delivery boom has created a massive new sector of employment that has pulled in a diverse demographic of workers from various sectors. For some, typically those younger than 35 and with limited formal education, it is often a riskier but more lucrative pursuit compared with say an office job. This was the experience of Sundarraj B (see "Delivery with a Dream"). For many above 35, it can be something of a lifeline as they find malls and become more reluctant to hire them, as Manjoosha Mishra Batch found out (see Courier was the Best Option").Roshni Patel, a Nagpur-based delivery associate with two years of experience, day starts at 7:30 am at the warehouse of one of the largest e-commerce companies in India. "I deliver on an average 50 packets. In about five hours, I am done for the day. I make around `15,000 to 17,000 a month and am happy," says Her husband also delivers couriers, Amazon in Nagpur.If not ecommerce, most of them might have ended up doing odd jobs and many may not have been able to move and live in a big city. With limited employable skills, many of them would not have earned nearly as much as what the delivery boom has afforded them. It is not just the delivery agents. Our increasing propensity to turn to our smartphone for all our needs means a range of service providers such as plumbers, electricians and beauticians are also able to enhance their earnings, upskill and achieve greater stability through apps.Train & Earn"Our professionals earn between `30,000 and `35,000 a month. In exceptional cases, it can be `1 lakh as well," says Varun Khaitan, cofounder of UrbanClap.In 2018, UrbanClap had around 12,000 professionals, which scaled to 30,000 in 2019 and this year, it expects to have 75,000. Half of them do home repair jobs (plumbing, electricals, etc) and the rest offer beauty and wellness services. The latter category mostly comprises of women. 73103194 At food delivery provider Zomato, which has operations across 550 cities in India, an army of almost 2.5 lakh are engaged in delivering orders. They average 1.5 orders an hour and do about 15 orders in 10 hours. The delivery partners mostly come from villages adjoining cities where they work. They must have a driving licence and scooter or bike. The delivery men are put through a two-part training — in-app and in-person. The former helps them understand how to take delivery orders and complete them, while the latter teaches them road safety, technical and financial know-how, soft skills and basic etiquette.Considering that work is focused around standard breakfast, lunch and dinner hours and increases on weekends, Zomato has a lot of part-timers who are either studying or engaged in secondary or primary professions elsewhere. They log-on to the platform only for certain hours a day. Urban Clap also mostly has independent contractors. The startup keeps a commission of 20% out of the fee."They are typically able to earn 2X once they join the platform. It has been transformational in their life," Khaitan says.UrbanClap takes semi-skilled professionals and soon will start onboarding unskilled staff and train them for the tasks. "The challenge is in getting trained manpower. We expect to have 75,000 professionals on the platform this year," he adds. "The challenge is to have the right checks and balances and achieve the perfect customer experience," says Mohit Sardana, COO of Zomato's food delivery unit.Working for companies such as these also entails a gradual shift from blue-collar environments to white-collar perks. Companies are offering provident fund contributions and accident covers, as well as providing loans for delivery staff to acquire two-wheelers.At Zomato and UrbanClap, partners and delivery staff are covered against accidents by Acko, an insurance startup."There is a lot of pressure on logistics providers — to ensure timely and voluminous delivery while ensuring rider safety. It is contingent upon companies to ensure metrics are up (on-time delivery, intact packets, no thefts, etc)," says Dutta of Third Eyesight. Hey Deedee, a courier companythat exclusively employs women, has 600 staffers in 10 cities. It aims to hire 10,000 more and add at least two new cities a month. Employees (in Mumbai) earn a base salary of `8,700 and an additional `18 per packet delivered. Revathi Roy, founder, Hey Deedee, says: "We run a skilling centre at the backend. We make the associate go through a training course on martial arts and customer interface. How to behave, how to not drink anything while at a customer's place and to maintain distance."The on-road staff is tracked via GPS and Hey Deedee pays for petrol and even offers insurance, PF contributions and loans to buy scooters. "It is not a cakewalk. Sitting and doing data entry is far easier. Just the other day, one of our staffers met with an accident while crossing the road to deliver a packet," says Roy.Success of ecommerce depends on them. Risks are high, so are the rewards — both for the delivery agents and the ecommerce companies trying hard to ensure customers keep coming back for more.'Courier was the Best Option'Manjoosha Mishra Batch was just 27 when she lost her husband, who used to run a small business and left no savings behind. That was the first time Batch, who has passed Class XII, stepped out of her home in Mumbai to look for work and support her two children. A string of odd jobs followed, including cleaning and wrapping packets and boxes at the super market or working as a typist. "I used to work 14 hours a day for around `8,000 a month," recalls Batch, now 42. 73103200 She thought the expanding retail business, with new malls opening frequently, will open up opportunities. The reality was different. "I was overage and was rejected everywhere. They hire only those below 35," says Batch, who had relocated from Sagar in Madhya Pradesh to Mumbai after her wedding.That is when she came to know about Hey Deedee, an e-commerce delivery startup, which hires only women and whose clients include the two top e-commerce companies in India. "They taught me how to drive a scooter and helped me with a loan to buy an Activa," says Batch. Over two months of training, she learnt how to use delivery apps, read maps, how to interact with customers and the dos and don'ts (like to avoid entering any house or to refuse any drink offered other than water, and that also only if she has asked for it).Her day now starts at 8:00 am at the warehouse, collecting on an average 30 couriers, each weighing between 1 and 1.5 kg. On holidays, she delivers 60-80 couriers. The more she delivers, the more she gets paid, at `18 per courier. There are problems like customers not being available, or not answering the phone to confirm whether they are at the delivery address. "There is no saving as the `14,000 I make covers our living expenses including the children's education. But it is better than slogging 14 hours a day. Now I start my day at 8:00 am and end at 4:30 pm," says Batch.Delivery with a DreamSundarraj B loves rains. And much like the extra toppings on the pizzas, he also loves the extra money he gets when targets are met or exceeded. Roy works for Zomato as a delivery partner. A rainy day means `15 extra per delivery. On festivals, it is `200 extra per day and for exceeding 10 orders a day, it is `400 extra. If he can manage 24 deliveries per day, it is `800 extra over the `720 he gets (at `30 per delivery), making it a cool `1,520 for the day. 73103202 Bengaluru-based Sundarraj, 35, used to work with delivery startup Runnr, which was acquired by Zomato in 2017. "It's a difficult job as targets are stiff and you start making good money only when you exceed targets," says Sundarraj, who originally hails from a village close to Mysuru. He moved to Bengaluru in search of a job and started working at a hearing aid clinic as a marketing executive. The clinic paid him `12,000 a month. The clinic folded up and once again Sundarraj was looking for a job."Office job with my kind of skills would not pay more than `15,000 without any room for extra money. That's when I looked at delivery jobs, where there was opportunity to earn extra if you worked longer," says Sundarraj, who stays with his daughter and wife in Bengaluru. Now he earns `32,000-40,000 a month. Sundarraj delivers in a 5 km radius around Kormangala and often frets when he has to deliver food on the 7th or 10th floor. "Some people come down or midway to collect their orders, but many don't. That elongates delivery time."Late night deliveries are also good for the `30 extra for such orders. "I am saving to open a restaurant, actually an online kitchen, where I'll employ chefs and delivery boys. The market is really growing fast," adds Sundarraj.

Tech is changing your appliances for good

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The unusual cold wave in north India last weekend forced Seema Sharma to rush out of her Noida apartment to buy a heater. She enquired about all the options, effectiveness of various models, prices and the maintenance requirement before zeroing in on a model. Despite the weather pushing her, she decided that she was not going to overlook one parameter — power consumption. "Hefty electricity bills are usual in summers because of use of air conditioning. So I am conscious of power usage ratings and go for appliances that consume less electricity. I don't want a power guzzling heater just to keep warm," says Sharma, 32, who chose a quartz heater over a fan heater.Sharma's decision-making process highlights a key factor that consumers consider while buying appliances nowadays: how to keep power consumption down while ensuring optimum output.Even the makers of such household appliances have, over the past few years, focused on improving efficiency of their products — be it heaters, geysers, air cons, refrigerators, blubs, TVs, microwaves or washing machines — while keeping electricity bills low. Stricter regulations and technology innovations have helped the electricals and white goods industry achieve this, while also enabling features like inter-connected appliances and remote operations.Take lighting. An average light bulb used to consume 100 watts of energy. Now, LED bulbs consume just one-tenth of that energy yet can give similar or more brightness. This has been brought about even as lighting tech has evolved from incandescent, fluorescent, discharge lamps, CFLs to LEDs. More than two billion LED lamps have been sold in India in the last four-five years, says Sumit Padmakar Joshi, vicechairman and MD, Signify Innovations India (formerly Philips Lighting India). "Efficiency of the LED chip, its optical light distribution and LED electronics has improved significantly over this period, resulting in higher overall luminous efficacy and more energy efficient lighting systems." He says the efficiency of LED bulbs will improve as technology evolves further. "We also expect significant improvements in other lighting factors as well, such as quality of light, lower glare, better light distribution, color consistency, lesser visible flickering, etc," he adds.Improvements in LED technology is impacting televisions as well — LED TVs consume one-third of the power of the cathode ray tube TVs and less than the previous generations LCDs. The big power guzzling equipment at home that can inflate electricity bills — air conditioners — are also getting smarter and better.Most of the market has shifted to inverter air cons, which adjust the speed of the compressor to control the refrigerant (gas) flow thereby consuming less power. Unlike older air cons, an inverter machine eliminates waste by modulating motor speed. 73102974 Vijay Babu, VP, home appliances, LG India, says, "Inverter tech has not only reduced power consumption but also improved durability of products."Earlier, air cons used to have fixed speed technology and there was no mandatory Bureau of Energy Efficiency (BEE) Star Rating. Now air cons follow Indian Seasonal Energy Efficiency Ratio (ISEER) introduced by BEE, which is under the ministry of power. Inverter air cons became popular in 2018-19 and now comprise 70% of the entire air con market, says an industry estimate.Similarly, cooling gasses and refrigerants have also become more environment friendly and less-power consuming. Refrigerators come with vacuum panels as an insulation between the inner plastic liner and the outer steel casing — the better insulation you have the less energy you have to pump out. The result: a fridge today uses one-third of the energy of one made a decade ago.Eric Braganza, president, Haier India, says, "Compressor design, changes in refrigerant are behind these improvements. Cooling is up and so is efficiency." He also points to changes in motor design — using brushless motors which consume less power — as a reason for power savings for consumers. Haier has a manufacturing unit in Pune and is opening another one in Greater Noida is 2020.Pradeep Jain, managing director of Jaina Group, which markets Sansui products in India, says, "Certified refrigerators use up to 40% less power than models sold a decade back. All the innovations around LEDs, electronic components, chipsets, coolants, coils, etc, over the last few years have a common goal: higher efficiency and lower power consumption."While innovation and regulations have improved appliances, there is a lot more that can be squeezed out of these devices. Much of that improvement relies on digital technologies. Haier's Braganza is betting on connected devices leading to more efficiency and better user experiences. Appliances embedded with Internet of Things sensors will help you to monitor and operate from anywhere via your smartphone. Such washing machines and TVs can sense the environment and maybe even your thoughts. Signify sees illumination and IoT working together to usher in an era of connected lighting. Says Joshi, "We are positioning ourselves as a lighting company for Internet of Things."Jain sees better and low power-consuming devices being launched almost every year now. He credits the gains to use of better materials and newer technologies, including IoT and nanotechnology.An electrical engineer working with a large appliances maker says, "Each next-gen technology helps eliminate wastage in running motors and components and this results in better products." Besides, a decade on, many appliances could be custom-made in home on 3D printers. While white goods wait for that ultra-smart era, for now, expect more connected and lower power consuming appliances as this exceptionally cold wave gives way to hot weather.shelley.singh@timesgroup.com Pradeep Jain, managing director of Jaina Group, which markets Sansui products in India, says, "Certified refrigerators use up to 40% less power than models sold a decade back. All the innovations around LEDs, electronic components, chipsets, coolants, coils, etc, over the last few years have a common goal: higher efficiency and lower power consumption."While innovation and regulations have improved appliances, there is a lot more that can be squeezed out of these devices. Much of that improvement relies on digital technologies. Haier's Braganza is betting on connected devices leading to more efficiency and better user experiences. Appliances embedded with Internet of Things (IoT) sensors will help you to monitor and operate from anywhere via your smartphone. Such washing machines and TVs can sense the environment and maybe even your thoughts. Signify sees illumination and IoT working together to usher in an era of connected lighting. Says Joshi, "We are positioning ourselves as a lighting company for Internet of Things."Jain sees better and low power-consuming devices being launched almost every year now. He credits the gains to use of better materials and newer technologies, including IoT and nanotechnology.An electrical engineer working with a large appliances maker says, "Each next-gen technology helps eliminate wastage in running motors and components and this results in better products."Besides, a decade on, many appliances could be custom-made in home on 3D printers. While white goods wait for that ultra-smart era, for now, expect more connected and lower power consuming appliances as this exceptionally cold wave gives way to hot weather.

Inside govt's plan to change India's sarkari behemoth

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The Railway Board is all set to be overhauled. Last month, the cabinet gave its nod to restructure the apex decision-making body of the Indian Railways (IR), a reformist move that could bring in nimbleness and corporate work ethics to the sarkari transport behemoth.According to the cabinet decision, four of the eight permanent board members will be dispensed with; experts with 30 years' experience will be brought in as independent members; and the chairman will be redesignated as the chief executive officer (CEO).Crucially, the IR will now have just one cadre, the Indian Railway Management Service (IRMS), which could at one stroke end the long history of rivalry among the eight services, thereby unlocking stalled projects and ushering in innovation and expansion.The target of the latest reform is apparent: the government transporter, which ferries 23 million passengers a day, must pick up speed instead of just chugging along.Explaining the rationale behind the government's move, Railway Board chairman Vinod Kumar Yadav told ET Magazine that the servicewise split on the board, with each member holding on to her turf, had become a major hurdle in the Railways' expansion. "A member's viewpoint, in the present set-up, is considered final as far as her department is concerned. The chairman only coordinates inter-departmental issues and takes some policy decisions. At times, such a division of power at the board level is detrimental to the Railways' growth," says Yadav, whose tenure has been extended by one year till December 31, 2020, paving the way for his becoming IR's first CEO. 73102088 For example, no one would contest that IR should electrify its routes, discarding more and more diesel locomotives, but the railway data shows that there are still about 6,000 diesel locos as against 5,600 electric engines. It also has to be noted that the Indian Railway Service of Electrical Engineers (IRSEE) with 1,074 officers still lags behind the 1,349-officer-strong Indian Railway Service of Mechanical Engineers (IRSME). Hypothetically, if the board member representing mechanical engineers does not agree with a suggestion to downsize its cadre, it could stonewall IR's larger goal of pan-India electrification.Even the indigenously designed Train 18 project, which has so far rolled out only two semi-high speed Vande Bharat Express trains, faced inter-departmental hurdles, officials say. Former general manager of Integral Coach Factory and the man behind the project, Sudhanshu Mani, says the decision-making at the board often faces hurdles because of departmentalism. "Now, the chairman of the railway board will not just be first among the equals; he will be a true CEO at whose desk the buck will stop," says Mani, welcoming the move.Goodbye to compartmentsSo, what's next? A group of ministers (GoM), likely to be headed by Union Home Minister Amit Shah, is expected to settle two things in the next three months — one, how to combine eight services with specialisations such as electrical, electronics, mechanical, accounting, personnel et al; and two, finalise the modality of recruiting new IRMS probationers.Officials say the IR is weighing the possibility of recruiting both engineers and nonengineers through the Union Public Service Commission's common civil services examination, which also selects officers for the Indian Administrative Service, Indian Police Service, Indian Revenue Service, etc. This means the Engineering Services Examination, which selects officers for five out of eight railway services, will become redundant. IR will now provide the UPSC with its exact requirement of engineers, e.g. for electrical and mechanical. The UPSC, will, in turn, choose them from candidates having those as optional subjects.The government, it's learnt, may also make it mandatory to select non-engineers — e.g. for accounting, traffic and personnel — from a few disciplines such as economics and commerce, restricting the entry of recruits with optional subjects such as history, political science, sociology, among others. However, this will have to wait till the GoM takes a final call. 73102095 What will immediately come into effect is the restructuring of the board, which includes appointments of only four members — for infrastructure, operations and business development, rolling stock and finance. Also, the IR will be allowed to have independent members with 30 years of experience in the fields of industry, finance, economics and management. The formal designation of the CEO will also happen soon. The reforms have sent a large section of the 8,401 railway officers into a tizzy. They are concerned about a likely shrinking of their promotional avenues. The officers, who have refused to come on record on this, say they are waiting for the government's final notification which will have the fine print. For now, what seems clear is that each of those 8,401 will be an IRMS officer.There's a silver lining. Though the government's move to trim the Railway Board has made redundant four member posts that are equivalent to secretary of GoI, the IR will gain, thanks to these reforms. The apex-level officers will soon be 34 as against 10 now, as the government has decided to bestow the rank and pay of a GoI secretary to 27 general managers and two directors general, one of whom will be attached to the chairman for handling human resources. Former chairman of the Railway Board, SS Khurana, says the government's recent move is an attempt to disrupt a time-tested mechanism. "The problem with the Railways is not departmentalism. It's a well-coordinated organisation that runs some 22,000 trains 24x7. The introduction of the CEO concept will bring in authoritarianism and destroy a system that has evolved over 100 years," he says.But the government has made up its mind to bite the bullet. Its reforms go beyond what a 2015 panel headed by Bibek Debroy, now an adviser to the prime minister, had recommended. The Debroy panel, which had former cabinet secretary KM Chandrasekhar as a member, had recommended the merging of the eight services into two — the Indian Railway Technical Service (IRTechS) comprising five engineering services (IRSE, IRSSE, IRSEE, IRSME and IRSS), and the Indian Railway Logistics Service (IRLogS), comprising non-technical services (IRAS, IRPS and IRTS).The government has now collapsed all services into one. Says Yadav: "We went by the Prakash Tandon committee's recommendations of 1994. We were apprehensive that even if there are two services, there would be infighting. There can be some balance if eight services fight, but not when two fight. So, we decided to go for one service."

SECI invites EoI to purchase power for blending with renewable sources

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KOLKATA: Solar Energy Corporation of India Ltd (SECI) intends to blend inherently unsteady renewable power with power from steady generation sources including coal-fired thermal plants."The objective of blending is to make firm power available round the clock in order to meet the requirements of various distribution companies, commercial and industrial consumers," SECI said in an expression of interest (EoI) invited from generators of hydro, pumped storage, gas, battery storage, and thermal generation sources including captive power plants.Blending, according to SECI's EoI document, would allow it to provide round the clock supply to consumers to meet their baseload and enhance renewable penetration at DISCOM and other consumers. It is also expected to cater to the requirements of consumers by providing them round the clock firm power by blending RE power with the power from hydro, gas, pumped storage, thermal sources of energy.It will also allow commercial and industrial consumers who have captive plants to meet their renewable power purchase obligation through the purchase of renewable power through long or medium-term open access. SECI may sign power purchase agreements with generators, the validity of which may vary from one to 25 years as per consumer requirements and shall be for those blocks in a day where renewable power falls short in meeting the conditions of round the clock firm power.

10 candidates score overall 100 percentile in CAT 2019, all from tech backgrounds

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Ten candidates have topped the Common Admission Test (CAT) 2019, scoring an overall 100 percentile, results declared by IIM Kozhikode, the organising institute have revealed. Like last year, all the 10 candidates are male and are from engineering/technology backgrounds.According to the statement issued, 6 of these candidates are from the IITs, 2 from the NITs, and 1 candidate is from Jadavpur University. From the permanent address provided during application, 4 candidates are from Maharashtra and the remaining candidates are from Jharkhand, Karnataka, Tamil Nadu, Telangana, Uttarakhand and West Bengal, said Shubhasis Dey, CAT Convener, 2019.21 candidates have scored an overall 99.99 percentile, out of which 19 candidates are from the engineering/technology background.This year, 75004 female candidates and 134917 male candidates sat for the exam, along with 5 transgender candidates. Around 2,44,169 candidates had registered for the exam this year, compared to 2,40,338 last year, the highest since 2008.Despite women accounting for nearly 36% of the candidates this year, none have made it to the 100 percentilers list. Two women and three non-engineers had last made it among the 20 toppers in CAT 2017. CAT 2019 was conducted in two shifts on November 24, 2019. A total of 2,09,926 candidates had appeared for the examination, which was conducted at 376 test centres spread across 156 cities in India.IIMs will now release their shortlists for subsequent admission processes based on, among other things, the CAT 2019 scores. More than 115 other non-IIM institutions will also use CAT 2019 scores this year for admission into their management programmes.Candidates can now download their official CAT 2019 scorecards by logging into the official website (www.iimcat.ac.in).

Special Podcast: Will Q3 results be a good one for D-Street?

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Apple back at CES 2020 after 28 years gap

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San Francisco: The Cupertino-based tech giant Apple has confirmed that the company will be making a rare official appearance after 28 years at the upcoming Consumer Electronics Show (CES) in Las Vegas.At the event, Apple executive Jane Horvath is scheduled to speak on a consumer privacy panel on 7 January, reports Digitaltrends. Horvath will be present with Facebook Procter and Gamble executives along officials from the Federal Trade Commission (FTC) to discuss how companies can establish privacy protections in terms of size, regulation, and consumer demand.Additionally, the company will be showing off its HomeKit smart home platform as Apple's top two rivals Amazon and Google are expected to roll out new update that will add more capabilities to their IoT-powered devices.Apple formally participated in the CES back in 1992 in Chicago when its then CEO John Sculley appeared at a summit to release the Newton device. Apart from CES, Known Apple analyst Ming-Chi Kuo had recently revealed that the iPhone maker is planning to launch a high-end 12.9-inch iPad Pro with an A14X chip in the third quarter of 2020 and six new iPhones models.Additionally, the 5G variant of the Apple iPhone 12 may come with advanced image sensor-shift stabilisation technology to click stable images without distortion when there is excessive motion.