Highlights of Union Budget 2010 by Pranab Mukherjee

Riding on economic revival, Finance Minister Pranab Mukherjee on Friday announced major personal income tax sops but hiked excise duty from eight per cent to 10 per cent across the board on non oil products as also duties on petrol and diesel in the Union Budget for 2010-11.

Budget highlights:

• Impressive recovery in the past few months. Can witness faster recovery in the coming months, says Mukherjee.
• Focus shifted to non-governmental actors and an enabling government. Government will concentrate on supporting and delivering services to the economically backward sections.
• Fiscal year 2009-10 was challenging for Indian economy
• Economy stablished in Q1 of 2009 itself
• Manufacturing growth at 18.5 per cent in December was highest in two decade
• Export in January encouraging
• Figures for merchandise exports for January encouraging after turnaround in November and December last.
• Double digit food inflation last year due to bad monsoon and drought-like conditions
• Erratic monsoon and drought-like conditions forced supply side bottleneck that fuelled inflation
• Government conscious of the situation of price rise and taking steps to tackle it
• Need to review stimulus imparted to econony
• Need to ensure that the demand-supply imbalance is managed
• Stress on the need to make growth more broad-based
• Need to review the public spending and mobilise resources
• Status paper on public debt within six months
• Finance Minister says Government hopes to implement direct tax code from April 2011.
• Earnest endeavour to implement General Sales Tax in April 2011.
• Government will raise Rs 25,000 crore from disinvestment of its stake in state-owned firms
• Kirit Parekh report on fuel price deregulation will be taken up by Oil Minister Murli Deora in due course
• Nutrient based fertiliser subsidy scheme to come into force from April 1, 2010
• Market capitalisation of five PSUs listed since October increased by 3.5 times
• FDI inflows steady during the year. Government has taken series of steps to simplify FDI regime
• Government has decided to set up apex-level Financial Stability and Development Council
• RBI considering some additional banking licenses to private companies, NBFC will also be considered if they meet criteria
• Government intends to make FDI policy user friendly by compling all guidelines into one document
• Government to continue interest subvention of 2 per cent for one more year for exports covering handicrafts, carpets, handlooms and small and medium enterprises
• Government to provide Rs 300 crore to organise 60,000 pulse and oilseed villages and provide integrated intervention of watershed and related programme
• Government to provide Rs 16,500 crore to public sector banks to maintain tier-I capital
• Rs 200 crore provided for climate resilient agriculture initiative
• Government committed to ensure continued growth of Special Economic Zones.
• Need to take firm view on opening up of the retail sector
• Repayment of loan by farmers extended by six months to June 30, 2010 in view of drought and floods in some part of the country
• Interest subvention for timely repayment of crop loans raised from one per cent to two per cent, bringing the effective rate of interest to five per cent.
• Propose to maintain thrust of upgrading infrastructure in rural and urban areas. IIFCL authorised to refinance infrastructure projects.
• Rs 1,73,552 crore provided for infrastructure development
• Allocation for Railways fixed at Rs 16,752 crore, an increase of Rs 950 crore over last financial year
• Government proposes to set Coal Development Regulatory Authority
• Mega power plant policy modified to lower cost of generation; allocation to power sector more than doubled to Rs 5,130 crore in 2010-11
• Government for competitive bidding for coal blocks for captive power plants
• Rs 500 crore allocated for solar and hydro projects for Ladakh region
• Clean Energy Fund to be created for research in new energy sources
• Allocation for new and renewable energy ministry increased by 61 per cent to Rs 1,000 crore
• One-time grant of Rs 200 crore provided to Tirupur textile cluster in Tamil Nadu
• Allocation for National Ganga River Basin Authority doubled to Rs 500 crore
• Alternative port to be developed at Sagar Island in West Bengal
• Draft of Food Security Bill ready, to be placed in public domain soon
• Deficit in foodgrains storage capacity to be met by private sector participation
• Outlay for social sectors pegged at Rs 1,37,674 crore, accounting for 37 per cent of the total plan allocation
• Plan allocation for school education raised from Rs 26,800 crore to Rs 31,036 crore in 2010-11
• Plan allocation for health and family welfare increased to Rs 22,300 crore from Rs 19,534 crore
• For rural development, Rs 66,100 crore have been allocated
• Allocation for NREGA stepped up to Rs 40,100 crore in 2010-11
• Indira Awas Yojana scheme's unit cost raised to Rs 45,000 in plain area and Rs 48,500 in hilly areas
• Allocation for urban development increased by 75 per cent to Rs 5,400 crore in 2010-11
• Road transport allocation raised by 13 per cent to Rs 19,894 crore
• 25 per cent of plan outlay earmarked for rural infrastructure development
• One per cent interest subvention loan for houses costing up to Rs 20 lakh extended to March 31, 2011; Rs 700 crore provided
• Allocation for development of micro and small scale sector raised from Rs 1,794 crore to Rs 2,400 crore
• Rs 1,270 crore provided for slum development programme, marking an increase of 700 per cent
• Government decides to set up National Social Security Fund with initial allocation of Rs 1000 crore to provide social security to workers in unorganised sector.
• Road transport allocation raised by 13 per cent to Rs 19,894 crore
• Exclusive skill development programme to be launched for textile and garment sector employees.
• Allocation for women and child development hiked by 80 per cent.
• Rs 1,900 crore allocated for Unique Identification Authority of India.
• Government to contribute Rs 1,000 per year to each account holder under the new pension scheme.
• Plan outlay for Ministry of Social Justice raised by 80 per cent to Rs 4,500 crore.
• Plan allocation for Ministry of Minority Affairs raised from Rs 1,740 crore to Rs 2,600 crore.
• Financial Sector Legislative Reforms Committee to be set up.
• Unique identity symbol to be provided to the Indian Rupee in line with US Dollar, British Pound Sterling, Euro and Japanese Yen.
• Defence allocation pegged at Rs 1,47,344 crore in 2010-11 against Rs 1,41,703 crore in the previous year. Of this, capital expenditure would account for Rs 60,000 crore.
• Planning Commission to prepare integrated action plan for Naxal-affected areas.
• FM appeals to "misguided elements" (left wing extremists) to eschew violence and join the mainstream.
• Gross tax receipts pegged at Rs 7,46,656 crore for 2010-11, non-tax revenues at Rs 1,48,118 crore.
• Total expenditure pegged at Rs 11.8 lakh crore, an increase of 8.6 per cent.
• Fiscal deficit at 5.5 per cent, says FM
• Fiscal deficit seen at 4.8 per cent and 4.1 per cent in 2011-12 and 2012-13 respectively
• Non-plan expenditure pegged at Rs 37,392 crore and Plan expenditure at Rs 7,35,657 crore in budget estimates. 15 per cent increase in plan expenditure and six per cent in non-plan expenditure.

Q&A With Bloom Energy’s Founder, Next Gen Fuel Cells and More

K.R. Sridhar sheds some light on how the magic box works.

San Jose--Bloom Energy made its long-anticipated debut today and while the company didn't share all of the details behind its so-called energy servers, it did give some.

An energy server can provide 100 kilowatts of power by converting natural gas or other hydrocarbons into electricity pretty much on demand. A single server is about the size of an industrial shipping crate, consists of four 25 kilowatt modules, and costs $700,000 to $800,000. In all, that means power for 9 to 10 cents after incentives in California.

http://www.youtube.com/v/uVZAT3U_Jls&color1=0xb1b1b1&color2=0xcfcfcf&hl=en_US&feature=player_embedded&fs=1

But how does it work inside and what makes Bloom's better than the fuel cells designed by others? CEO and founder K.R. Sridhar gave us an explanation in the video. The picture shows two of the internal ceramic plates.

Sridhar (in the video and earlier in the day) also explains how Bloom may enhance the fuel cell in the future for a push into the domestic market in about a decade and the enhancement represents both a step forward and a step back. Carbon dioxide and water are byproducts of the gas-to-electricity reaction. By adding some additional "plumbing" components, the fuel cell can capture the water, run it through the fuel cell later and produce hydrogen. Hydrogen could then be stored until needed to power a car or provide electricity to a home.

The water-to-hydrogen reaction will require additional electricity. Bloom suggests that solar panels can provide this power. Although the fuel cell could do this reaction now, Bloom isn't putting in the components because the market isn't ready, said Sridhar. So having a path to energy storage: a step forward.

So what is the step back? In Bloom's patents, it talks about taking both the carbon dioxide and hydrogen, running them through the fuel cell and producing a methane-like fuel. In other words, Bloom-at least for now-doesn't appear to be looking at recycling carbon dioxide for the big architectural jump into the consumer market ten years from now.

"It is simpler" to just concentrate on hydrogen, Sridhar said.

Recycling carbon dioxide is a dream of many; it also remains a thorny scientific challenge. ARPA-E gave $23.7 miillion in grants to companies who hope to make fuel from sunlight and carbon dioxide. Maybe discretion is the better part of valor here. Besides, if someone else, such as BioCee or Sun Catalytix, can crack the carbon dioxide-to-fuel formula, Bloom may be able to license it. (Another highlight: Sridhar confirmed that zirconia, also called zirconium dioxide, is a key ingredient, confirming our earlier review of the patents.)

There's an interesting connection between Bloom and Hara, the carbon management software company. Kleiner Perkins invested in both companies and both listed Coca-Cola as a signature client. In fact, Fortune 500 friends played an integral part of the launches of both companies. It gives the companies credibility. However, if Kleiner relies on the same names too much, it may begin to take the sheen off the impact. So look for the big names at the next Kleiner launch and cross-check them with the rest of the portfolio.

And finally, here's a video of the servers themselves:

http://www.youtube.com/v/T2EKpqpDGJA&color1=0xb1b1b1&color2=0xcfcfcf&hl=en_US&feature=player_embedded&fs=1

Volkswagen Polo

Volkswagen does not want the Polo to be another new small car for the Indian market. It wants to set a new benchmark.



It will be an understatement of the new decade if one says that VW has done their homework for India. You don't even need to drive the car to understand that. A glance at the tech specs reveal it all - small capacity petrol and diesel engines that are tuned for economy, feature rich Trendline (basic) trim level, VFM Comfortline and adequate safety kit for the top-end comfort line. And then the prices - who would have thought you, could get a car wearing a VW badge for under Rs 5 lakh? The 1.2 L litre petrol starts at Rs 4.34 lakh while the diesel 1.2 L at Rs 5.32 lakh. To put it perspective, the entry level VW Polo is more affordable than the similar spec Hyundai i20 and is only marginally more expensive than the entry level Suzuki Swift. A mainstream car from Europe's largest car maker at an oriental price tag interests you, right? What is the catch, you ask? As they say driving is believing, so read on.

Design

The Polo is a quintessential European hatchback - one that follows the lead from its elder sister, the Golf. The difference though is the fact that the new Polo is newer and none other than Walter DeSilva had a hand in designing it. The result is a car with crisp lines, bold elements and sharp detailing. Oh yes, the stance of the car is just perfect too. It may not follow the tall-boy architecture of the Wagon R or for that matter may lack the funkiness of the new-boy Ritz - but it does look contemporary and even a mite sporty. The Highline model features wheel-arch filling 15 inch alloys wheels which emphasizes the youthful/sporty nature of the Polo.

Comfort

Get inside and a bit of reality hits you - the plastic quality, if not questionable is very bland despite two textures and colour coding. Instrumentation is comprehensive and the white in black dials are easy to read. Overall ergonomics is praiseworthy for the way it makes drivers of different height and weight comfortable. And mind you, all models get a steering wheel that is fully adjustable. The rear leg room is nothing to write Wolfsburg about but if the front seats are not occupied by the likes of Ishant Sharma then the rear leg room can be acceptable. In short, you do know that VW had to build this interior to a price - expect buyers to pump in money on faux-leather and an entertainment system in an effort to complete the package for the base models while the top-end model get decent upholstery and an audio package.

Performance

As of now the Polo will be available only with a 1.2 litre petrol engine but a diesel with similar capacity is set to following May 2010. I drove both the cars and was impressed by the driveability of the diesel engine despite the low displacement. The three-cylinder diesel develops 75 bhp at 4200 rpm and 18 kgm of torque at 2000 rpm. Even in bumper to bumper traffic, the car was tractable without the baulking associated with small diesel power plants. Given an open stretch of the road, the diesel managed a decent 140 kph with the engine spinning away lazily at about 3500 rpm. Most over taking requirements need a quick downshift and the slick, short-shift gear box help matters. If I have to crib it is about the engine noise that is too harsh at idle speeds and irritating at cruise speeds - something 18 kpl plus mileage (highways) force you to live with.
The 1.2 petrol on the other hand is way more refined and develops its 75 horses - like the diesel version. With peak torque of 11 Kgm coming in at 3750 rpm - it needs to be given the boot to get better reaction for your inputs - in other words keep the revs high and be on the boil for best results. Once you do that the Polo will sprint energetically ( you have to wait for a full road-test for acceleration figures). Expect the petrol variant to return 14 kpl in city/suburban driving conditions.

Safety

The VW Polo is a new car even for Europe and all the safety features that are built into the monocoque of the car are as contemporary as it gets. But if you want ABS and driver and passenger side airbags then be ready to shell out Rs 5.72 and Rs 6.70 for petrol and diesel models respectively - pricey indeed but still more affordable than the Hyundai i20 and the Honda Jazz.

Conclusion

The VW Polo marches into contention as a car that you cannot ignore if you are in the market for a premium hatchback. Apart from mouth-watering looks and exceptional build quality the way the car handles Indian terrain is also important - in this aspect the Polo is better than anything that Japan and Korea has to offer. The way it goes over undulating terrain and potholes is simply short of amazing. Add to that safe (read neutral) handling and decent ground clearance (168 mm) and you do have a tidy 'Indian' package indeed. How well the tiny three-cylinder engines will fare on varying Indian fuel quality is something one needs to wait to find out though. And now the million dollar question - will the VW Polo force the competition, especially Skoda, to reduce the price of their B-segment contenders? Let the games begin.

Source: India Syndicate

The Phoonk 2 scare challenge

Director Ram Gopal Varma seems to have a lot of faith in Phoonk 2, to the extent that's he's ready to hand out a cash prize of Rs 5 lakhs to anyone brave enough to watch his latest.

The contest claims to award the winner if he/she dares to watch the movie all alone in a cinema hall. Phoonk makers claim the last man who tried watching the first movie didn't even last 30 minutes.

The challenge, however, ran into scandal when many claimed the first wasn't scary at all, with some even alleging the scare contest was rigged.

But the team behind Phoonk 2 refuses to back down, and have taken the second version of the challenge to a whole new level.

"For Phoonk 2, we are adopting a very scientific method. The contestant will be fitted with an ECG machine while Phoonk 2 plays. The machine will monitor his heartbeat and pulse rate and this will be shown live on a screen outside the theatre to both the media and all concerned," revealed a press release.

Visit http://www.phoonk2.in/ for further details.

Sachin Tendulkar immortal at 200

Even before he took guard at Gwalior, Sachin Tendulkar's place in the pantheon of cricketing gods was assured. He had already amassed both the highest number of runs and the maximum tons in Tests and one-dayers alike.

If devout worshippers had any reason to quibble, it was that there was no one record-shattering innings - Brian Lara has the highest Test score of 400 and Saeed Anwar and the little-known Charles Coventry shared the ODI record of 194.

Just 147 balls later, Tendulkar set the record straight in emphatic fashion. A staggering 2,961 matches and almost 39 years after the first ODI was played - and remember, many ODIs in the early years featured innings of 60 overs each, which gave batsmen more scoring opportunities - the Little Legend finally became the first cricketer to score 200 in a one-dayer, propelled by a record 25 fours in one knock.

The landmark 200 came in the final over of the innings, though Sachin crossed the previous record of 194 in the 46th over; in the interim, several lustily-hit fours and sixes by M S Dhoni were accompanied by groans from millions of spectators desperate to see Sachin on strike.

The big moment, though, finally arrived, crowning what is fast turning into one of Sachin's most productive periods with the bat. The last 12 months have seen him score 10 international hundreds: six in Tests - including four centuries in his last four Tests - and four in ODIs.

Three of those 4 ODI tons - Wednesday's 200, the unforgettable 175 against Australia last November and the brilliant 163 in New Zealand last March - are among his four highest ODI scores. Only his previous highest score of 186, against the Kiwis, falls outside this golden patch.

Some years ago, as Sachin struggled with injury and a dip in form, some commentators had the temerity to suggest that Ricky Ponting would eventually overhaul his records.

Over the past 12 months, though, Sachin has once again opened up a yawning gap between himself and all his contemporaries, and ensured that if at all any comparisons have to be made, they should be with another Australian - Don Bradman, who was famously reminded of himself when watching Sachin bat.

True, no one comes close to the Don's amazing average of 99.94, or his phenomenal 29 centuries from just 52 Tests. But the fact that Sachin is breaking records barely two months shy of his 37th birthday testifies both to remarkable longevity and an insatiable appetite.

Indeed, there are no speed limits on Sachin Tendulkar's road to excellence. After two decades of basking in the glory of his sporting pre-eminence on the world stage, India is now privileged to witness the second coming of the most complete and prolific batsman of this age. Even the back-breaking expectations of a billion unrealistic fans, it seems, are a pittance compared to the soaring aspirations of the man himself.

Over the last year, Sachin has taken his skills to a whole new level of consistency. The body, close to breakdown in the mid-2000s, has been chiselled to accessorize this new-found garb of perfection. Back in 1998, he had scored 12 international tons, 9 in ODIs and 3 in Tests. This purple patch has turned back the clock.

In the last 12 months, he has been the only player to score six hundreds in 10 Tests, at an average of 78.3. In 20 ODIs, a format in which his records are set in stone, he has notched up 1158 runs at 72.37, with 4 hundreds.

In Gwalior, Tendulkar strutted on his stage like a man possessed, ran between the wickets like a 20-year-old and reaffirmed his relevance in modern cricket's rapidly-changing dynamics.

When it finally came to pass, the unbeaten double ton almost seemed a scary inevitability. There were no cramps, no nerves, just steely intent to go on with a ruthlessly dominating display. Where have all the years gone?

Commentator Ravi Shastri repeatedly referred to him as a run machine, but that's only a half-Sach. Tendulkar isn't a mundane machine. Instead, he scripts his achievements with soul. This is a man for whom excellence is a habit, who is so devoted to his craft, so enthusiastic still, that with experience he has mastered the art of seamlessly binding talent, discipline and perspicacity, all without compromising on style, for maximum gain in a team cause. The end result is machine-like consistency.

Treasure this new, improved Tendulkar. He is, by far, still India's most valuable player, and will remain so till he decides to call it quits. But that's for later: after Gwalior, and given the form he is in, it's time to ask what's next. Maybe a 100 international hundreds, given that 93 are already in the bag?

• Highest run-getter in ODIs, with 17,598 runs from 442 matches. Jayasuriya (13,428) and Ponting (12,731) follow
• Most centuries in ODIs (46), followed by Ricky Ponting (29) and Sanath Jayasuriya (28)
• Since Feb 24, 2009 has scored 1,158 runs in 20 ODIs, with 4 tons, averaging 72.37. In the preceding 12 months, had scored 352 runs from 9 ODIs at an average of 44
• His double century is the first in 39 years of ODIs, including 60-overs-a-side matches
• Highest scorer in Tests, with 13,447 runs from 166 matches. Next best Lara (retired with 11,953) and Ponting (playing with 11,859)
• Most Test centuries (47), well ahead of Ponting (39) and Kallis (34) among active players, and retd Lara and Gavaskar (34 each)
• In 2010, has already scored 477 runs averaging 95.40. Only Hashim Amla (674) has scored more Test runs this year
• In his last 10 Tests, has scored 1,018 runs at an average of 78.3 and is the only one with 6 tons in the last 12 months. In the previous 10 Tests, he had 647 runs and averaged just 38.08

How Sachin almost missed the record

Imagine missing out on a world record! Batting maestro Sachin Tendulkar had almost missed out on becoming the first player in the history of one day internationals to score a double century.

Let us rewind to figure out what happened in the penultimate and the last over of the Indian innings.

Sachin Tendulkar was unbeaten on 199 and MS Dhoni, the captain, at the other end unbeaten on 36. India were 368 for three.

South African fast bowler Dale Steyn came into bowl the 49th over. Dhoni was on strike.

The first ball yielded no run but the second one was hoisted over mid wicket for a towering six. The Indian captain could not connect his bat with the next ball.

However, the one after that touched the fine-leg boundary ropes. The next one was despatched by Dhoni for another six.

Fingers crossed. Will Dhoni hit a boundary? No was the answer as the ball was drilled down the ground to long off for a single.

People glued to their television sets were praying. The crowd on the ground was hoping to witness history. Come on Sachin!

Sachin Tendulkar unbeaten on 199 and MS Dhoni, the captain, at the other end unbeaten on 53. India were 385 for three.

The last over in the Indian innings was to be bowled by Langeveldt. Dhoni was on strike.

First ball. It was full length delivery and a bit wide but Dhoni is equal to the task and hits over the long off boundary for a towering six. The crowd reaction was a bit strange. Till then, almost every shot played by the Indian batsmen was cheered.

But this one met with a subdued reaction.

Five more balls to go. By then, every God may have been remembered in India. Sachin was still batting on 199.

Second ball. Dhoni plays wide of deep midwicket but Hashim Amla was equal to it. He fielded it and restricted the pair for a single. Never before you would have witnessed a crowd cheering for a rival team player for fielding and giving away only a run.

This finally brought Tendulkar on strike.

Then came the moment. Langeveldt came into bowl to Tendulkar. The ball was steered behind point. That was it. A single was taken. The crowd erupted. So did his teammates in the dressing room.

History was made.

This delay was possibly because Dhoni wanted to add as many runs as possible to his team kitty and also cross the total of 400.

But, nothing could deter one of the greatest batsman on Earth to add another feather to his cap. And, what a record it is!