Loans That Save Tax

Loans Can Save Tax !

This time of the year, we all are on the look out for means and ways to save that amount of money which gets deducted as tax. But if we have planned ourselves well during the year these three months should not be a burden. There are various investments which one can make to get a tax rebate. Let us look at how loans can help us save tax. Yes, although a loan is termed as a liability one can still avail the benefits from a loan.

Let us see how…Most of us would own a home and to finance that we take a home loan. As you would be aware your home loan is eligible for tax benefits under the Income Tax Act. Tax benefits can be claimed on both the principal and interest components of the home loan as per the Income Tax Act, 1961. Under Section 24(b) , the borrower who has taken the loan either to build a house or buy one gets the benefit of these deductions. These tax benefits under Section 24 and deduction under section 80C of the Income Tax Act can be claimed only if all the payments are made by the borrower. To claim the tax benefits one has to make (Equated Monthly Installments) EMI payments regularly. The lender, that is all home finance companies and banks usually, issue a provisional certificate at the start of the year. This certificate is based on the EMI payable in the financial year, with the break-up of the interest and principal paid.

Following is how you can get your tax benefit, for example Mr Rao has taken a home loan for buying a property. The interest on the loan taken is deductible upto Rs 1, 50,000 for a financial year only if the following conditions are met by him.
-The loan should be taken on or after April 1, 1999 for buying or building a house.
-From the end of the financial year in which the funds were borrowed the property (built/bought) should be completed within 3 years.
-If he extends the loan, the interest is payable in respect of the funds taken either for building or buying the property. Even if he refinances the principle amount outstanding under an earlier loan taken for building or buying a house he gets the benefit.

- In case Mr Rao cannot fulfill the above conditions then the interest on the borrowed funds are deductible up to Rs30,000.But the following conditions have to be met:-
- The funds should be borrowed before April 1, 1999 either for buying, building, reconstructing or renewal of the property.
-Funds should be borrowed on or after April 1, 1999 for reconstructing, repairs or renewals of the house.
- If the funds are borrowed on or after April 1, 1999, but the construction is not completed within 3 years from the end of the year, in which the funds are borrowed.

Other than the above benefits, under section 80C the principal repayment of the loan/funds borrowed, he is also eligible for deduction of upto Rs 100,000 in a financial year.

Besides availing a home loan one can also take a personal loan and invest the funds in various schemes where you can save tax. Like investing in PPF’s , Tax saving bonds, Mutual funds and various investment options. If you do not have the funds to invest for tax rebate, a personal loan can help you. So, as seen above a home loan or personal loan can help you plan your tax savings. Make sure you avail of all the benefits of a home loan which are the rebate and deduction. Always plan ahead of time for availing a tax rebate and put to use the benefits you get from your loans.

Courtesy: Deal4Loans

Obama wants to watch Slumdog Millionaire

Now US President, Barack Obama is mesmerized by Slumdog Millionaire.According to the White House Obama wants to watch the acclaimed Slumdog Millionaire.

The exhilarating rags-to-riches fairy tale set in Mumbai,swept the Oscars with eight awards including the best picture, best director, best adapted screenplay; with A R Rahman becoming the only Indian to bag two Oscars for the best score and original song.

Courtesy: Yahoo! News

When I grow up I DON'T want to become a Teacher

How often do you hear a child today say she dreams of being a teacher one day? Few Indian youngsters, especially in big cities, are opting for a teaching career, with low salaries being the biggest deterrent.

According to Bharati Baveja, head of the department of education in Delhi University, the decline in the number of students taking admission in the B.Ed courses - which offer teacher training - has been as much as 20-30 percent over the last few years.

'In the late 1980s and 1990s, teaching as a career option for youngsters was at its peak. Even till 2000, we used to get a lot of applications for admission in the B.Ed course, but not any longer,' Baveja told IANS.

'The decline has especially been steady over the last four years - by as much as 20-30 percent,' she said.

One of the main reasons for this trend, according to Krishna Kumar, director of the National Council of Education Research and Training (NCERT), is the low salary structure of teachers, especially when compared with other career options like management.

'The status that a teacher enjoyed in the yesteryears in not true now, their pay is not enough and their welfare is hardly taken care of. A yoga, art or music teacher in many schools works only on a contract basis and in Madhya Pradesh they have teachers working only on a contract basis. It's true when a Unesco report says that a teacher is in a crisis today,' Kumar told IANS.

Sharmila Das, a primary school teacher in Vasant Vihar, said: 'I love my job but there are moments of frustration when I see my friends leading a much more luxurious and expensive lifestyle than I can ever afford. We started at the same time in our careers and I put in as much hard work as they do in their management careers, if not more. But we have ended up in very different places.'

Experts feel that increasing frustration among the teachers could be one of the reasons for cases of violence in the classroom.

'Nowadays you hear about teachers hitting their students so badly that the children have to be hospitalised or even die. While I am not defending them, the situation that a teacher finds himself or herself today in is very challenging and therefore such cases cannot be seen in isolation,' Kumar said.

However, following the Sixth Pay Commission, this trend may now reverse, some predict.

'After the Sixth Pay Commission, teachers' salaries have increased substantially by as much as 40 percent. Therefore, I am sure that people's interest will return to this field and we will hopefully get more applications for the B.Ed course this year,' Baveja said.

Doing their bit to make teaching more appealing, bodies like the NCERT and Delhi University are working at revamping their teacher training course.

Baveja said: 'The B.Ed course now is of one-year duration, but we want to make it two years and include more practical exercises. We are working at revamping it and have the vice chancellor backing us'.

Baveja also added that the trend is not necessarily true when it comes to the young in smaller metros or even women.

'We get a lot of applications from students in the non-metros which shows that for them teaching is still a revered profession. In the metros, it's mostly the girls who opt for these (B.ED) courses. For instance, in the present batch of B.Ed course the ratio of boys to girls is 20:80,' Baveja said.

(Azera Rahman can be contacted at azera.p@ians.in )

Courtesy: Yahoo! News

Captain becomes Colonel!

'Captain of Blue' to 'Colonel of Olive Green'

Former Indian cricket captain Kapil Dev, who was inducted into the Territorial Army five months ago, will undergo a three-day battle efficiency test here beginning Friday.

'The orientation or familiarisation of Kapil Dev will begin Friday. The battle efficiency test as it is being called will also include firing practice,' an army official told IANS.

Kapil Dev, who scripted history by leading the Indian team to victory in the 1983 World Cup, was commissioned into the 150 TA (Infantry) battalion of the Punjab Regiment.

The 50-year-old legendary cricketer is now an honorary Lieutenant Colonel. He received his badges of rank from the Indian Army chief on Sep 24, 2008.

Having inspired thousands of youth in the country to pick up a bat and ball, Kapil Dev now hopes to inspire them to don the Olive Green to protect the nation.

The Territorial Army is a part-time citizen's force which functions as a 'vital adjunct' to the regular army.

Courtesy: Yahoo! News

India - The one stop solution for all your outsourcing needs!

Last year, Eric Weitz was turning business away. His Philadelphia law firm, Weitz Garfinkle Datz, regularly found itself pitted in court against large corporate law firms with "unlimited, incredible resources," he says. The four attorneys in his 10-person, $1 million company simply couldn't take on all the complex insurance and medical cases brought to them. Weitz's solution: outsource some of the firm's medical consulting and document management work to a company in India. "I used to have to cobble together assistance from a number of different local vendors," says Weitz. "But when you're a small firm you tend to go to the back of the list."

India is well known for its ability to handle business process outsourcing, such as call center and back-office work. But it's increasingly a venue for design and consulting jobs as well, says Anil Gupta, a professor of strategy at the University of Maryland's Smith Business School. Although the large Indian outsourcing firms cater mostly to major international firms, small U.S. companies can find partners that specialize in small to midsize businesses. Labor costs typically run a quarter of what they would in the U.S.

Weitz developed a preliminary list of potential partners by scouring legal trade journals and the Internet. Most contenders were slow to respond to his inquiries, but one, Tasks Everyday, replied immediately. The Mumbai company offered to do a test run for free, so Weitz asked it to review a stack of medical records and create a chronology of events. That worked out well, and in July Weitz started outsourcing regularly to them. Now he relies on his offshore team to do everything from researching reference materials to medical consulting. The Indian firm even hired American-trained doctors to review medical files, research, and studies for Weitz, a service it hadn't provided clients before. The two parties negotiate a fixed fee for a preset number of hours. Weitz pays up front for each contract.

If you have a complex, long-term project, Gupta recommends that you travel to India to start developing a relationship. This can be prohibitively expensive, so find out if your outsourcer will come to you. In addition to working U.S. business hours and offering local contact numbers for their clients, most reputable Indian operations have offices and account executives in the U.S.

There can be hiccups, of course. The variety of regional accents in India can create language barriers, even when all parties are speaking English. Weitz, who receives daily e-mails and weekly progress reports from his Indian team, has also found that extremely detailed instructions are necessary. "I have to be very concrete in terms of the scope of the project before even placing the call to give instructions," he says. When work does need to be corrected, says Weitz, Tasks Everyday has done so immediately, without charging extra. "If you don't set standards, you can't expect always to get a firm's best work," says Gupta. "Vendors tend to rise to the occasion."

Weitz says he'll increase his revenue about 20% because he's outsourcing to India and can now take on more cases. "My cost structure is significantly lower, so my risk tolerance is higher," Weitz says. "There's my competitive advantage"—even if it happens to be located nearly 8,000 miles away.

Courtesy - Business Week

A Sacrifice Not So Easy

http://bibleinsightsfortechies.blogspot.com/2008/03/son-for-sacrifice.html

GM - At the verge of bankruptcy

A government-backed bankruptcy reorganization remains an option for saving General Motors Corp and Chrysler LLC, analysts said on Wednesday, even though the automakers have said they would rather not go down that road.

GM and Chrysler asked for billions of dollars more in federal aid on Tuesday and announced sweeping changes including capacity reductions and job cuts.

Some Wall Street analysts were disappointed that the restructuring plans submitted to the U.S. Treasury did not include key concessions from the United Auto Workers union and the automakers' bondholders.

One analyst said that taking the bankruptcy option off the table would reduce the bargaining power of the companies.

Both GM and Chrysler analyzed a possible bankruptcy filing in their restructuring plans but stressed that it was not their preferred method for reorganizing and that they hoped to avoid this scenario.

GM, which has requested $16.4 billion in additional loans from the U.S. government for a total of up to $30 billion, has said it would run out of cash as soon as March without new federal funding.

The request came shortly after smaller rival Chrysler asked for another $5 billion in aid.

GM's request that a sizable chunk of total aid come in the form of preferred equity rather than debt is a "tacit acknowledgment of the fact that GM may emerge from an out-of-court process as a still highly levered firm," JP Morgan analyst Himanshu Patel said.

David Leiker, analyst with Robert W. Baird, still sees bankruptcy as the best option for a reorganization.

"Though likely to be painful near-term, we continue to believe that the challenges to restructuring GM and Chrysler are too complicated to be met outside of a bankruptcy," Leiker said.

In its restructuring blueprint, GM estimated that if it were forced to reorganize in a traditional bankruptcy, the tab for the government could touch $100 billion in bankruptcy financing.

Chrysler estimated that the bill for its bankruptcy could hit $1,200 per taxpayer.

GM also outlined cost-reduction actions but still has to reach an agreement with its bondholders and the UAW on how to reduce the roughly $48 billion it owes both groups.

An equity-for-debt swap, which is being considered, could significantly hit stockholders.

"A substantial majority of the pro-forma equity in General Motors would be distributed to exchanging bondholders and the UAW VEBA," Credit Suisse analyst Chris Ceraso said. "The existing equity holders would largely be wiped out by the bond and VEBA exchanges."

The UAW VEBA is trust fund set up to cover employee healthcare costs.

Another issue that could crop up for auto investors is the the potential for "going concern opinions" from auditors due to the liquidity crunch, operational losses and solvency issues in the auto industry, according to Grant Thornton, a corporate advisory and restructuring services firm.

A going concern opinion is a statement that there is substantial doubt about the entity's ability to continue as a going concern, something that would be typically mentioned in U.S. Securities and Exchange Commission filings by companies.

"It's important for the public, the supply base and all of the parties involved in restructuring the auto industry not to overreact if they start seeing 'going concern' opinions," said Kimberly Rodriguez, co-leader of Grant Thornton's global automotive team, adding that the radical restructurings GM and Chrysler are undertaking would ultimately help salvage the industry.

GM shares were down 9 cents or 4.13 percent at $2.09 in afternoon trading on the New York Stock Exchange.

Courtesy: Yahoo! News

Mother of Octuplets launches a website

Nadya Suleman, who gave birth to octuplets and the mother of fourteen children, has now launched a website asking donations from people to raise her kids.





http://www.thenadyasulemanfamily.com/

For some businesses, Recession is good!

The current economic picture is certainly a gloomy one, with massive layoffs, bankruptcies, the collapse of financial institutions, and a severe credit crunch. But the recession has also injected life into a slew of small businesses that are thriving either in spite of or because of the economic downturn, giving new relevance to the old adage that one man's misfortune is another's opportunity.

Among those businesses that are thriving are pawn shops and thrift stores, which have traditionally catered to those in tight financial straits and which have historically seen an uptick during economic slumps. They're reporting higher volumes of business and even a broadening of their customer bases among those who have recently found themselves with greatly diminished stock portfolios or among the unemployed. "More people are trying resale than may have done before," says Adele Meyer, executive director of the National Association for Resale & Thrift Shops, a trade association based in St. Clair Shores, Mich. "And once people shop resale they realize what value and quality they're getting for the price. They become hooked, and this becomes their way of shopping." Now, many thrift stores are finding that their inventories are running especially low: Business is booming, and goods for resale aren't being replenished as fast or as easily.

Keeping Things Running
Others who are getting a financial jolt—a positive one— are auto mechanics and other repairman, who have seen record business in some cases over the past six to nine months. With wallets stretched and credit tight, many people are hanging onto their cars, appliances, and even shoes rather than replacing them. "Our business in the last seven to nine months has been better than compared to the last four to five years," says Dick Whittington, owner of Leon's Shoe Shop in Shreveport, La.

Fear and crime has also boosted a number of businesses. Sales of home safes are on the rise, while several private detective agencies are also reporting a surge in business. Repo men across the country are doing record levels of business, thanks to the high number of loan defaults on big ticket items such as cars, boats, and motorcycles.

The record number of foreclosures and ballooning consumer debt has been a windfall for businesses that consolidate, restructure, counsel, and settle debt and foreclosures. However, an increase in fraudulent firms claiming to help consumers with their debt and mortgages has also been on the rise.

So while many businesses are shutting down or limping along, there remains a sturdy group of small firms that have found opportunity. Flip through the slide show to see nine small businesses that are booming during the recession.

Courtesy: Business Week

Computer Virus enter French Fighter Planes!

The aircraft were unable to download their flight plans after databases were infected by a Microsoft virus they had already been warned about several months beforehand.

At one point French naval staff were also instructed not to even open their computers.

Microsoft had warned that the "Conficker" virus, transmitted through Windows, was attacking computer systems in October last year, but according to reports the French military ignored the warning and failed to install the necessary security measures.

The French newspaper Ouest France said the virus had hit the internal computer network at the French Navy.

Jérome Erulin, French navy spokesman told the paper: "It affected exchanges of information but no information was lost. It was a security problem we had already simulated. We cut the communication links that could have transmitted the virus and 99 per cent of the network is safe."

However, the French navy admitted that during the time it took to eradicate the virus, it had to return to more traditional forms of communication: telephone, fax and post.

Naval officials said the "infection"' was probably due more to negligence than a deliberate attempt to compromise French national security. It said it suspected someone at the navy had used an infected USB key.

The Sicmar Network, on which the most sensitive documents and communications are transmitted was not touched, it said. "The computer virus problem had no effect on the availability of our forces." The virus attacked the non-secured internal French navy network called Intramar and was detected on 21 January. The whole network was affected and military staff were instructed not to start their computers.

According to Liberation newspaper, two days later the chiefs of staff decided to isolate Intramar from the military's other computer systems, but certain computers at the Villacoublay air base and in the 8th Transmissions Regiment were infected. Liberation reported that on the 15 and 16 January the Navy's Rafale aircraft were "nailed to the ground" because they were unable to "download their flight plans". The aircraft were eventually activated by "another system".

Liberation also reported that Microsoft had identified the Conficker virus in the autumn of 2008 and had advised users from October last year to update their security patches. IntelligenceOnline reports that "at the heart of the (French) military, the modifications were, for the most part, not done." It was only on the 16 January "three months later" that the navy chiefs of staffs began to act.

"At that point, the chiefs of staff and the defence ministry had no idea how many computers or military information systems were vulnerable to having been contaminated by the virus," said Liberation.

The French press also reported that the only consolation for the French Navy was that it was not the only ones to have fallen victim to the virus. It said that a report in the military review Defense Tech revealed that in the first days of January 2009 the British Defence Ministry had been attacked by a hybrid of the virus that had substantially and seriously infected the computer systems of more than 24 RAF bases and 75 per cent of the Royal Navy fleet including the aircraft carrier Ark Royal.

Source - Defence Aviation

Bummerdog Millionaire

Kathy Evans from US brought humiliation to her friends and family when she set a new standard for stupidity with her appearance on the popular TV show, "Who Wants To Be A Millionaire."

It seems that Evans, a 32-year-old wife and mother of two, got stuck on the first question, and proceeded to make what fans of the show are dubbing "the absolute worst use of lifelines ever."

After being introduced to the show's host Meredith Vieira, Evans assured her that she was ready to play, whereupon she was posed with an extremely easy $100 question.

The question was: "Which of the following is the largest?"

A) A Peanut
B) An Elephant
C) The Moon
D) Hey, who you calling large?

Immediately Mrs. Evans was struck with an all consuming panic as she realized that this was a question to which she did not readily know the answer.

"Hmm, oh boy, that's a toughie," said Evans, as Vieira did her level best to hide her disbelief and disgust. "I mean, I'm sure I've heard of some of these things before, but I have no idea how large they would be."

Evans made the decision to use the first of her three lifelines, the 50/50. Answers A and D were removed, leaving her to decide which was bigger, an elephant or the moon. However, faced with an incredibly easy question, Evans still remained unsure.

"Oh! It removed the two I was leaning towards!" exclaimed Evans. "Darn. I think I better phone a friend." Using the second of her two lifelines on the first question, Mrs. Evans asked to be connected with her friend Betsy, who is an office assistant.

"Hi Betsy! How are you? This is Kathy! I'm on TV!" said Evans, wasting the first seven seconds of her call. "Ok, I got an important question. Which of the following is the largest? B, an elephant, or C, the moon. 15 seconds hun."

Betsy quickly replied that the answer was C, the moon. Evans proceeded to argue with her friend for the remaining ten seconds. "Come on Betsy, are you sure?" said Evans. "How sure are you? Puh, that can't be it."

To everyone's astonishment, the moronic Evans declined to take her friend's advice and pick 'The Moon.' "I just don't know if I can trust Betsy. She's not all that bright. So I think I'd like to ask the audience," said Evans.

Asked to vote on the correct answer, the audience returned 98% in favor of answer C, 'The Moon.' Having used up all her lifelines, Evans then made the dumbest choice of her life.

"Wow, seems like everybody is against what I'm thinking," said the too-stupid-to-live Evans. "But you know, sometimes you just got to go with your gut. So, let's see. For which is larger, an elephant or the moon, I'm going to have to go with B, an elephant. Final answer."

Evans sat before the dumbfounded audience, the only one waiting with bated breath, and was told that she was wrong, and that the answer was in fact, C, 'The Moon.'

"Valentine's Day" originated in India - Here's the Proof!!!

In spite of what you have been told by everyone, the truth is that Valentine's Day originated hundreds of years ago, in India, and to top it all, in Gujarat !!

It is a well known fact that Gujarati men, specially the Patels, continually mistreat and disrespect their wives (Patelianis) . One fine day, it happened to be the 14th day of February, one brave Pateliani, having had enough "torture" by her husband, finally chose to rebel by
beating him up with a Velan (rolling pin).

Yes....the same Velan which she used daily, to make chapattis for him....only this time, instead of the dough, it was the husband who was flattened.

This was a momentous occasion for all Gujarati women and a revolt soon spread, like wild fire, with thousands of housewives beating up their husbands with the Velan.

There was an outburst of moaning "chapatti-ed" husbands all over Anand and Amdavad. The Patel men-folk quickly learnt their lesson and started to behave more respectfully with their Patelianis.

Thereafter, on 14th February, every year, the womenfolk of Gujarat would beat up their husbands, to commemorate that eventful day.The wives having the satisfaction of beating up their husbands with the Velan and the men having the supreme joy of submitting to the will of the women they loved.

Soon The Gujju men realised that in order to avoid this ordeal they need to present gifts to their wives....they brought flowers and sweetmeats. Hence the tradition began.

As Gujarat fell under the influence of Western culture, that day was called 'Velan time' day.

The ritual soon spread to Britain and many other Western countries, specifically, the catch words 'Velan time!'. Of course in their foreign tongues, it was first anglisised to 'Velantime' and then to 'Valentine'. And thereafter, 14th of February, came to be known as Valentine's Day!

P.S.: even now during the Holi festival, there is part of a celebration, when women 'beat' their husbands in a mock ceremony !!

Get Married for FREE on Valentine's Day! Courtesy Sri Ram Sena

Unfazed by the outrage over its attack on a Mangalore pub, the self-styled moral brigade of Sri Rama Sene on Thursday threatened to forcibly ‘marry off’ couples dating in public on Valentine's Day.

Sri Rama Sene founder Pramod Muthalik said that his activists would hold protests at hotels, hostels and colleges where Valentine's Day celebrations are held.

"Those found dating, expressing their love, cosying up to each other would be married off," Muthalik, who has been released on bail in the Mangalore pub attack case, said.

He said at a meeting of the Sene held on Wednesday it was decided to request the Karnataka Government to ban Valentine's day celebrations in the state. A memorandum to this effect would be submitted to the Governor Rameshwar Thakur, Chief Minister B S Yeddyurappa and Home minister V S Acharya, he said.

The outfit has formed ‘five teams’ which would roam around with a hidden camera on Feb 14. A priest would accompany the team which will have a turmeric stub and 'mangalsutra'. Muthalik, who came to limelight after the January 24 attack by Sene members on boys and girls in the pub, even claimed that the marriages will be ‘registered’.

Hitting back at Union Minister Renuka Choudhary, who had demanded stern action against the outfit, he asked why the Minister had not voiced her opinion ‘when they were cases of rape and crime against women in metros’.

Asserting that the outfit's drive was not politically motivated, Muthalik said, "as a citizen of the country, it is my democratic duty to put an end to anything that is obscene."

While issuing the threat to marry off couples who dated in public, he insisted that while holding protests, Sene activists 'would not take the law into their hands'.

Muthalik claimed his activists had been working for the last 10 years and had ‘succeeded in putting an end to the Valentine's day celebrations in five districts of Karnataka’.

The Sene chief said he faced 53 cases and appeared in 41. To a scribe's retort that if the couple were minors an act of marriage would be unlawful, he said that in such cases the couple would be counselled and the police informed about their activities.

Srirama Sene leaders warned parents who did not want their wards to be married off to ensure that their children do not step out on February 14.

Reacting to Union Minister of State for Women and Child Development Renuka Choudhary's comments that he would not understand love since he was a celibate, Muthalik said, ‘being a brahmachari does not mean I do not understand love’ and said ‘it was not right for a woman who was a national leader to remark like this’.

Muthalik claimed that he had ‘defended women in distress whenever situations arose, unlike Choudhary’.

On reports that the pub attack involved extortion, he challenged those making the allegations to provide proof.

"None of my workers have resorted to extortion", he said.

More...

Good News India IT - India will still grow in 2009!

India's IT industry will show "strong resilience" in spite of the current economic climate, with spending projected to grow 14.1 percent this year.

According to a Springboard Research report released Tuesday, the Indian IT market will not be as severely affected by the downturn as economies in North America, Europe and Asia-Pacific markets such as Japan and Korea.

In fact, IT spending in India will still expand by 14.1 percent in 2009, albeit at a slower rate than the 18.1 percent growth it clocked last year, the research firm predicted.

Verticals such as retails and real estate will see the largest cuts in IT budgets, Springboard noted, while telecommunications will see some growth from the anticipated arrival of 3G this year.

After a series of delays, India is expected to conduct its first 3G spectrum auction this year, though the country's Cabinet last week said a ministerial panel is currently looking to resolve several related issues, such as deciding on the base auction price.

However, Mahanagar Telephone Nigam Ltd. (MTNL) and Bharat Sanchar Nigam Ltd. (BSNL), which are both India state-owned enterprises or Public Sector Undertakings (PSUs), were given 3G spectrum last year ahead of private telecommunication services providers. Both operators will be required to pay the same license fee when the auction is finalized.

MTNL recently launched its 3G mobile services in selected areas in New Delhi.

Not as affected
Government initiatives to bolster economic growth, increased spending on public security and national defense, as well as IT initiatives in rural India, will pave the way for new technology, Springboard said.

"With the economic crisis expected to further worsen, we will see IT spending affected in India--although not to the same degree as in North America, Europe and other Asia-Pacific markets like Japan, Australia and Korea", said Manish Bahl, research manager at Springboard.

"[India] had delivered impressive growth and profits to both leading multinational and domestic vendors last year, and for many of these vendors, their Indian revenues grew more than 50 percent in 2008," Bahl said.

According to the analyst, local enterprises will focus more on their core business in a bid to build specialization. This will increase their dependence on technology to reduce operational expenditure.

"Albeit in a slow pace, SMBs (small and midsize businesses) will also play their part to drive the market and this is well supported by the changing attitude of Indian companies to view IT as an investment," Bahl noted.

Springboard expects the economic downturn to "trigger a new kind of competition", driving businesses to closely focus on returns on investment calculations, improve their planning and deepen the involvement of IT vendors.

"While major multinational vendors continue to view India as a critical growth market, we expect other U.S.-based firms to amplify their resource influx into the region and set up special teams to focus only on emerging markets such as India," Bahl said.

The top 10 trends Springboard believes will shape India's IT market this year:

1. Arrival of 3G will unlock enormous opportunities for IT vendors.

2. Cost concerns will drive key focus on IT infrastructure consolidation.

3. Economic pressures will drive SMBs toward outsourcing and software-as-a-service.

4. Startups and smaller businesses will become more important accounts for IT vendors.

5. Virtualization will gain traction in medium- and large-sized enterprises.

6. IT outsourcing will be seen as a catalyst to HR (human resource) retention and cost reductions during this economic downturn.

7. The media and entertainment industry will transform further with new technologies.

8. Online advertising markets to gain momentum with the emergence of niche social networking sites and regional portals. 9. The public sector will buoy IT spending.

10. Green IT will be fueled by cost-efficiency benefits.

Courtesy: zdnet News

Oh no Naxals - You have a problem!

The Union Home Ministry has convened a high-level meeting here today to discuss naxal situation in Andhra Pradesh, Maharashtra, Orissa and Chhattisgarh.

The Directors General of Police of the four naxal-hit states have been summoned by the Ministry for a thorough review of the situation.

The meeting will also discuss the follow-up action that need to be taken on the decisions taken at the meeting of the Chief Ministers of the naxal affected states on January 7.

The meeting will be chaired by the Special Secretary (Internal Security) Raman Srivastava in the Ministry of Home Affairs.

Over 70 districts in the country are affected by Left wing extremism, which has been described by Prime Minister Manmohan Singh as a "virus" and the biggest internal security threat.

In continuing naxal violence in around a dozen states, over 400 people, including over 150 security men, have been killed so far this year.

The Government recently approved formation of a 10,000-strong special anti-Naxal force "COBRA" - Combat Battalion for Resolute Action - to tackle the menace.

In another decision, the Union Cabinet approved creation of 48 new posts of Special Directors General, Additional Directors General and Inspectors General in various central police organisations keeping in view functional necessity.

These posts will strengthen the supervisory structure of these organisations for better command and control.

Courtesy - Yahoo! News

Guess what - Iraq has a new Monument in the shape of a shoe!!!,

An Iraqi town has unveiled a giant monument of a shoe in honor of the journalist who threw his footwear at former U.S. President George W. Bush.

The two-meter (six-foot) high statue, unveiled on Thursday in former dictator Saddam Hussein's home town of Tikrit, depicts a bronze-colored shoe, filled with a plastic shrub. "Muntazer: fasting until the sword breaks its fast with blood; silent until our mouths speak the truth," reads an inscription, in honor of journalist Muntazer al-Zaidi, who hurled his shoes at Bush and called him a "dog" at a news conference during the former president's final visit to Iraq.

Zaidi has been held in jail in Baghdad since the incident, facing charges of assaulting a visiting head of state.

Fatin Abdul Qader, head of an orphanage and children's organization in the town, said the one-and-a-half-tonne monument by artist Laith al-Amiri was titled "statue of glory and generosity."
"This statue is the least expression of our appreciation for Muntazer al-Zaidi, because Iraqi hearts were comforted by his throw," she said.

Courtesy - Reuters

(Reporting by Sabah al-Bazee; writing by Peter Graff)

Joke of the Century - Pakistan gives a new meaning to the Beatles' song!

"Third Place" - In No-where land by no-where men making their no-where plans!!!


There is a place on earth which belongs to no one...and that is where the "stateless actors" planned the 26/11 attacks is the brilliant latest findings by the Pakistanis.

The Mumbai terror attacks of 26/11 were planned in a 'third place' outside Pakistan and Britain, Pakistani High Commissioner to Britain Wajid Shamsul Hasan said Friday.

Hasan said Pakistan's official report on the Mumbai attacks in which over 170 people were killed will be ready 'by Saturday or Sunday'.

'I have spoken to the interior ministry to check on Pakistani newspaper reports that said the attacks were planned in the UK,' Hasan told IANS.

'They told me there was no evidence of UK involvement. The attacks were not planned in either Pakistan or the UK.

'However, they said it was planned in some other outside place. It may not necessarily be a country - it could be a ship,' he said.

Hasan, who was an adviser to slain former prime minister Benazir Bhutto, said the report will be ready by Sunday after it is seen and approved by the president and the prime minister.

Earlier, Hasan told NDTV news channel: 'We are not going to do any whitewashing business. We believe in going after facts. Our findings will be acceptable to the world. We will try to satisfy India with our findings. We are addressing the concerns of the world not just India.'

'When you collect material, then you sort it out, you re-do it and re-read it. That requires time, so I am sure once they complete it, they will come out with concrete facts that will satisfy the world as to Pakistan's non-involvement in the Mumbai attacks,' he said.

Courtesy - Yahoo! News