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Josh finally had another burger, and published his SECOND review of the month!! All hail the Thrustmaster! Mindfactory never went anywhere, Windows likes your printers again, and all the GPU news you can stand! And we know who you are, since 23andMe sold all your data... J/K!00:00 Intro01:33 Food with Josh03:19 RTX 5060 series delay rumor, 8GB and 16GB Ti confirmed06:19 AMD says RX 9070 series had 10x more first-week sales12:12 Making wafers at TSMC Arizona might be just 10% more expensive14:02 Mindfactory attempts a comeback15:31 Windows update fixes printer issues16:32 Also, Windows update breaks VEEAM recovery19:28 MSI selling PSUs with only one 8-pin PCIe connector21:58 Google Maps may have deleted your timeline data25:48 23andMe potentially selling all of your personal data29:31 Podcast sponsor - Incogni30:55 (in)Security Corner43:16 Podcast sponsor - Stash44:25 Gaming Quick Hits51:36 Thrustmaster T818 Review1:05:51 Picks of the Week1:14:27 Outro ★ Support this podcast on Patreon ★
In this episode of Podcast4Engineers, our guest, Richard Kunčič, Senior Vice President and General Manager of Power System division, discusses how AI's increasing power requirements will drive a substantial change in rack power distribution architecture. He will dive into the pros and cons of transitioning to a 400 V architecture, and the evolution of the server power supply. Lastly, he will give an overview of Infineon's investment in quantum computing; a technology which has the potential to unlock new possibilities in the AI space and boost efficiency to unprecedented levels, especially for specific types of AI model training. Learn more about Infineon's data center solutions.
Marketbuzz Podcast: Indian markets may open strongly in the green according to the GIFT Nifty. Watch out for stocks like Reliance Industries, HDFC Bank, Zomato and others.
From our Archives: In this conversation from the 6th #VIPS, Mr. Sandeep Kothari shared his investment approach with Saurabh Singh, emphasizing his 'Deep Simplicity' framework, which helps identify growth and value factors, particularly in young companies and cyclical sectors like construction. He discussed investing in PSUs, using profitability CAGR vs. market cap CAGR for timing investments, and how macroeconomic views and geopolitics influence his decisions. Sandeep also explained how he evaluates undervalued yet robust companies, formulates exit strategies, and uses market penetration data from annual reports to guide investments. He touched on portfolio allocation between proven and potential businesses, the significance of impact investing in India, and offered tools for analysing annual reports. Lastly, he provided career guidance for aspiring investment analysts. In addition, Mr. Sandeep shared his fitness mantra, discussing his routine and activities that help him stay fit. Do tune in to this interesting conversation. __________________________________________________ The Indian Association of Investment Professionals (IAIP), the India Society of CFA Institute, was established in Apr 2005 as an association of local investment professionals consisting of portfolio managers, security analysts, investment advisors and other financial professionals. As one of the over 160 CFA Institute member societies, the IAIP connects local CFA Institute members to a global network of investment professionals. For the continuing up-gradation of knowledge and skills of members, IAIP conducts speaker events, workshops led by leading finance professionals.
Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Tuesday, October 29, 2024. My name is Nelson John, wishing all our listeners a very happy Dhanteras. Let's get started. Inflation, no more? That's what the International Monetary Fund, or IMF, thinks. In a recent economic review, the IMF declared that the global battle against inflation has "largely been won". That means that most countries across the globe have either met or are very close to their inflation targets. N. Madhavan explains that despite that, growth forecasts remain low. Projections for global economic growth have stabilised at 3.2% in 2024, slightly down from 3.3% in 2023. With a growth rate of 7%, India fares well in this aspect. However, global risks such as geopolitical conflicts, trade protectionism, and potential economic slowdowns remain significant — hence the low growth projections. When the Indian government liberalised the economy in 1991, domestic conglomerates were worried: a sudden change challenged their collective dominance. That was 30 years ago. Safe to say, the dominance of empires like Reliance, Tata, Adani, and Kotak, among others has assuaged those fears. Our partners at How India Lives . com write that corporate India had a resurgence in the late 2010s, led by a huge influx of cash. As banks ran out of credible entities to loan money to, India Inc. stepped up — and never looked back. Ultimately, they conclude that conglomerates aren't going anywhere, anytime soon, while the medium-sized ones might have to reconsider their positions, or perish. RBI is set to boost its digital security measures by introducing an AI-driven early warning system. This system will be designed to alert users to potential financial fraud during transactions. The initiative aims to tackle emerging threats in the digital finance space by leveraging AI to analyze data, identify high-risk platforms, and notify users of suspicious activities in real time. Subhash Naryan reports that this system will build on existing technologies like the MuleHunter AI, which detects mule accounts used in fraud schemes. The government is planning to shift its strategy for PSUs. Instead of rushing to sell them off, the government now wants to work on their operational efficiency and governance, reports Gulveen Aulakh. The plan, sources told Gulveen, focuses on transforming these PSUs into professionally managed entities capable of yielding substantial dividends and potentially achieving higher market valuations through future public listings. In recent initiatives, specific PSUs like Rashtriya Ispat Nigam Ltd and Mahanagar Telephone Nigam Ltd are receiving targeted interventions to address their financial and operational challenges, with plans ranging from restructuring packages to debt resolution strategies. The Open Network for Digital Commerce is launching an initiative to deliver groceries and other items within 30 minutes to two hours. The government-backed e-commerce network is looking to tap into the growing popularity of quick commerce in India, Sowmya Ramasubramanian reports. This move will involve collaborations with ElasticRun, Ola, and PhonePe's buyer app Pincode, utilizing their dark stores and delivery networks to enable rapid delivery services.
Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Thursday, October 3, 2024. My name is Nelson John. Let's get started. We might be on the verge of world war three, as Iran's recent airstrikes on Israel underscore Tehran's readiness to confront any perceived threat. Shweta Singh explains why the situation could escalate, and how the US is involved in the mess. Shweta also explains the implications of this development on India, including how it could affect trade, and helps you understand the complex geopolitical dynamics at play. In a move to slash legal costs, the Indian government is setting the stage for a new national litigation policy, targeting cases where government entities end up suing each other. With this step, the law ministry aims to curb the financial drain caused by such disputes, particularly among public sector undertakings, Dhirendra Kumar reports. The initiative targets disputes like tender disagreements between PSUs, which not only incur substantial legal costs but also burden the judiciary. With over 50 million pending cases nationwide, such disputes exacerbate the backlog and strain on the legal system. The policy aims to streamline processes and reduce unnecessary legal confrontations. If you qualify as ultra-rich, chances are you're tired of five-star hotels. Varuni Khosla writes that super-rich travellers are increasingly drawn to boutique resorts, which offer an intimate and luxurious experience accompanied by meals by high-profile chefs. These resorts are typically in remote locations and cater to the demand for unique and personalised vacations. Affluent millennials are spending more than 25,000 rupees a night to stay at such resorts. Google's in a bit of a spot in India. The tech giant has decided to settle an antitrust case after the Competition Commission of India flagged its deals with smart TV makers as a no-go under the competition laws. This is a big deal because it's the first time a company is testing India's new settlement process, writes Gireesh Chandra Prasad. Introduced last year, the process could get Google a 15% reduction on the penalty. The CCI initiated the probe in 2021, based on allegations that Google violated competition laws in the Android TV market, specifically through its restrictive agreements with smart TV manufacturers. These agreements allegedly limited the manufacturers' ability to use or develop alternative Android systems.Indian IT services are gearing up for their September quarter results, with Infosys expected to lead in revenue growth among the top five firms. Analyst forecasts suggest Infosys could achieve revenue growth exceeding 3%, driven by the ramp-up of previously secured deals and the integration of the newly acquired In-tech, Jas Bardia reports. TCS is also expected to grow, though at a more modest 1.5% to 2.4%, supported by its substantial 4G network deployment deal with BSNL. As for the others, HCL Technologies could see growth of up to 1.9%, while Wipro's projections indicate a slight increase or even a minor decline in revenue. TCS will release its results on the 10th, followed by other major firms. Show notes: Mint Primer | Iran strikes Israel: What next?Government's new litigation policy to target costly PSU disputesBoutique resorts with celebrity chefs: For the uber-rich bored with luxury staysGoogle offers to settle anti-trust case in smart TV probeInfosys to lead Indian IT pack this festive season
Welcome to CNBC-TV18's Marketbuzz Podcast. Here are all the important updates ahead of the trading session of September 24 -The Nifty is now only 70 points away from the mark of 26,000. In case that does happen today, it would have taken the Nifty 38 trading sessions to get to 26,000 from the day it first scaled 25,000 on August 1. -Beaten down sectors in recent times like the PSU Bank index turned out to be the top performer during Monday's trading session. The index saw its biggest single-day gain since June 3, which also saw the index make a near-term top. Barring IT, most of the other sectoral indices had a field day on Monday, including real estate and auto stocks. Some PSU names also saw a rebound, except for defence PSUs, which saw continued selling pressure. -This morning, GIFTNifty was trading with a premium of more than 80 points from Nifty Futures' Monday close, indicating a gap-up start for the Indian market. -Today is also the weekly expiry for the Nifty Financial Services index, which will keep the banking stocks in focus. -Stocks to track: Reliance Power, Punjab National Bank, NTPC, Firstsource, GR Infraprojects, BGR Energy, AstraZeneca Pharma, Power Grid -Asian stocks rose as China's central bank lowered key rates in the latest attempt to shore up the economy and financial markets. Equity benchmarks in Japan jumped more than 1% while those in South Korea climbed. Futures for the FTSE China A50 Index jumped as much as 2%. The yield on China's 10-year government bond declined to 2% for the first time on record. -The People's Bank of China announced a sweep of support for the economy, cutting its key short-term interest rate, and lowering the mortgage rate for existing housing loans. -US data released Monday showed business activity expanded at a slightly slower pace in early September, while expectations deteriorated and a gauge of prices received climbed to a six-month high, stoking confidence the world's largest economy can nail a soft landing. Investors are now awaiting data on the Fed's preferred price metric and US personal spending later this week -Overnight on Wall Street, the S&P 500 climbed to a fresh closing high as traders looked to build on last week's gains following the Federal Reserve's interest rate cut.The broad market index added 0.28%, while the Dow Jones Industrial Average gained 0.15%. Both indexes closed at records. The Nasdaq Composite ticked up 0.14%. -In terms of commodities, gold rose to fresh all-time high as traders digested data and remarks from policymakers. Oil edged higher in early trading Tuesday after Israel launched airstrikes on targets across southern Lebanon, killing nearly 500 people and fanning fears of all-out war. -Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co, talked to CNBC-Tv18 about the shifting dynamics in global trade and national security, particularly concerning the United States' reliance on China. He, however, feels that India is poised to take advantage of US-China tensions. Dimon is also of the view that there is "plenty of room" for interest rates to decline in the US. Tune in to the Marketbuzz Podcast for more cues
Marketbuzz Podcast: Indian markets may see a subdued start according to the GIFT Nifty. Watch out for stocks like SJVN, NBCC, Gujarat Gas and more.
Katie and Matt discuss short selling disclaimers, how to sell a closed-end fund and calling up the government to get payroll revisions.See omnystudio.com/listener for privacy information.
Marketbuzz Podcast: Indian markets may see a gap-up start according to the GIFT Nifty. Watch out for stocks like PSUs, Bharti Airtel, ONGC.
Matt and Katie discuss Pershing Square USA's IPO, Citron Research's short-and-distort charges, bond market liquidity, and Katie's trip to Paris to watch running.See omnystudio.com/listener for privacy information.
As a special treat whilst Merryn and John are away, we're bringing you the latest episode of Money Stuff: The Podcast.Matt and Katie discuss Pershing Square USA's IPO, Citron Research's short-and-distort charges, bond market liquidity, and Katie's trip to Paris to watch running.See omnystudio.com/listener for privacy information.
En este episodio, exploramos la última jugada del legendario inversor Bill Ackman: el lanzamiento de PSUS, su nuevo y ambicioso fondo. Analizamos las motivaciones detrás de esta iniciativa, su estructura innovadora y cómo podría revolucionar el panorama de inversiones. Discutimos el historial de Ackman, sus estrategias pasadas y cómo PSUS se alinea con su visión del mercado actual. Conversamos cómo se diferencia este nuevo fondo de sus anteriores, de los ETFs clasicos, de ETFs como ARKK de Cathie Wood, o del vehículo de inversión de Warren Buffett, Berkshire Hathaway.
Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Thursday, July 18, 2024. My name is Nelson John. Let's get started:The Indian stock markets BSE and NSE remained closed on Wednesday on the account of Muharram.The upcoming Union budget on 23 July is set to unveil a new initiative aimed at boosting the domestic production of medical devices, mirroring an existing program for pharmaceuticals. This move is intended to enhance self-sufficiency in medical equipment, potentially lowering healthcare costs. While the specifics of the financial backing remain under wraps, ongoing discussions signal a strong government focus on enhancing the sector's global standards. Currently, India's medical device market is predominantly composed of disposables and implants, which contributed to an $11 billion industry in 2022, accounting for about 1.5% of the global market. Projections suggest this could expand to $50 billion by 2030. Mint's Priyanka Sharma reports that the proposed scheme is expected to resemble the Revamped Pharmaceuticals Technology Upgradation Assistance Scheme launched earlier this year. The scheme supports technological advancements in the pharma sector through financial incentives.A new piece of legislation from the Karnataka government made news on Wednesday. The now-halted bill required that 50% of management and 75% of non-management roles in the private sector be reserved for local residents. Local residents are defined under the bill as individuals born in Karnataka or have lived in the state for at least 15 years. Being able to speak Kannada is also mandatory under this bill. The pause came after this policy shift was being seen as a serious challenge, particularly to the IT sector, which is a major contributor to the state's economy. The potential impact on these sectors includes a decrease in investments and a possible exodus of companies to other regions with less restrictive employment laws. Industry bodies like Nasscom even expressed deep concerns, predicting that such protectionist measures could deter global firms looking to invest in the state. Mint's Devina Sengupta explains how the now-paused piece of legislation could have impacted Karnataka's position in the race to become the country's biggest tech hub.Guess what tech startups can do without? A Chief Technology Officer. Major tech-driven companies like Zomato, Healthify, Swiggy and others are reconsidering the necessity of this senior executive role. Mint's Mansi Verma reports that instead of hiring new CTOs, these firms are redistributing responsibilities to existing team members or leaving the position vacant altogether. So what's causing this shift? Firstly, the cost of maintaining such a high-level position is substantial. CTO compensation packages often include hefty salaries and stock options, which can be financially burdensome. Additionally, internal promotions and reallocation of duties are proving effective. Companies are finding that empowering existing staff can maintain momentum and innovation without the need for a dedicated CTO. Despite this, an absence of the CTO could pose challenges, especially for companies relying on cutting-edge technology. The impacts of climate change are increasingly visible and distressing, ranging from severe floods to prolonged droughts. These events not only disrupt lives but also foreshadow significant economic turmoil. We're looking at potential drops or fluctuations in agricultural yields, which could lead to persistent food price inflation. Additionally, the severity of monsoon-related coastal flooding is likely to increase. In this article, part of Mint's special series of pre-budget stories, former Minister of State for Finance Jayant Sinha talks about how India's goal of net zero emissions can be reached through three steps: legislation, emission trading and capital mobilisation. Once synonymous with inefficiency, public sector undertakings or PSUs have transformed into significant wealth generators. In 2023-24, the 56 listed PSUs in the BSE PSU index recorded a combined profit of over ₹5 trillion, an all-time high. This surge is partly attributed to the government's emphasis on enhancing India's infrastructure, with capital expenditure rising dramatically over the past decade. Yet, this remarkable performance raises questions. Are we witnessing a sustainable growth trajectory, or is this another market bubble driven by government spending and sector-wide euphoria? Investors should consider whether they are chasing short-term gains or genuinely investing in long-term growth. While PSUs currently show strong performance, the underlying risk of a sector-driven bubble looms, suggesting caution in an overheated market. Today's Long Story by Mint's Abhishel Mukherjee focuses on PSUs listed on the Dalal Street, and whether investors should continue investing. We'd love to hear your feedback on this podcast. Let us know by writing to us at feedback@livemint.com. You may send us feedback, tips or anything that you feel we should be covering from your vantage point in the world of business and finance. Show notes:Budget may unveil scheme to incentivize medical gear makersOutsiders stay away: Karnataka's 'locals only' quotas can hit firms and jobsThe CTO charm is wearing thin at Indian tech startupsThree steps to net-zero: Legislation, emissions trading, capital mobilizationPSU stocks are in a micro-bubble. What should investors do now?
Welcome to CNBC-TV18's Marketbuzz Podcast. Here are all the important updates ahead of the trading session of July 16 -Even as the Nifty traded in a 110-point range on July 15, it crossed the 24,600 mark, made a new high of 24,635, and closed above levels of 24,550. Interestingly, barring SBI and ITC, none of the major index heavyweights contributed to the Nifty's upmove yesterday. Most of them ended with a flat to negative bias. But contributions came from PSUs like ONGC and NTPC, along with Bajaj Auto, which reports results today. -Today might turn out to be a volatile day for the financials, as the Nifty Financial Services will have its weekly expiry. Additionally, with Wednesday being a market holiday, the Nifty Bank too, will have its weekly expiry on Tuesday. -GIFTNifty was trading with a premium of over 17 points from Nifty Futures' Monday close, which indicates a flat-to-positive start for the Indian market. -Earnings: Bajaj Auto, CRISIL, Dee Development Engineers, DB Corp, Himadri Speciality Chemicals, Jubilant Ingrevia, Just Dial, L&T Finance, Network18 and TV18. -Stocks to watch: Jio Financial Services, SpiceJet, Vedanta, Hindustan Unilever, Unichem Labs, Lupin, Zee Entertainment -Stocks in Asia were muted in early Tuesday trading, following gains on Wall Street fueled by optimism surrounding a second Donald Trump term as the former US president chose his running mate. Equity benchmarks rose in Japan and Korea, while those in Australia were steady. Futures for Hong Kong stocks pointed to a decline. -Caution in Asia comes amid signs of emerging market volatility in anticipation that Trump's tariff threats will be implemented. -Overnight on Wall Street, the blue-chip Dow also reached a new intraday high, advancing half a percent to close at 40,211.72. Similarly, The S&P 500 added 0.28% to 5,631.22, while the Nasdaq Composite gained 0.4% to end at 18,472.57. Trump's rising odds of victory boosted oil producers, gun makers and private prisons. His pro-cryptocurrency stance lifted the industry. Tesla Inc. rallied as Elon Musk endorsed Trump. Solar firms sank as Democrats are seen as more friendly toward the sector. -Meanwhile, Federal Reserve Chair Jerome Powell said in an interview that second-quarter economic data has provided policymakers greater confidence that inflation is heading down to the central bank's 2% goal, possibly paving the way for near-term interest-rate cuts. He made clear he didn't intend to send any specific message about the timing of rate reductions. -In commodities, oil prices edged lower on worries about a slowing Chinese economy crimping demand, though a growing consensus that the U.S. The Federal Reserve will begin cutting its key interest rate as soon as September limited declines. Brent futures fell to $84.76 a barrel. -Back home, Telecom Minister Jyotiraditya Scindia is likely to meet leaders from Telecom and Internet Service Providers. DOT has called for meeting of Stakeholder Advisory Committee for TSPs i.e. Telecom Service Providers. This committee includes, Sunil Bharti Mittal, Akash Ambani, Kumar Manglam Birla and N Chandrasekhar. The issues of Unsolicited Commercial Communication, network quality, and 6G are likely to be on the cards. Tune in to the Marketbuzz Podcast for more cues
Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Monday, June 10, 2024. My name is Nelson John. Let's get started:The markets are still recuperating from the bloodbath from election results day. However, it wasn't so bad for all of them: Ram Sahgal writes that retail investors, who buy and sell shares directly, outsmarted the broader market. Instead of buying while the markets were rising prior to the results, retail investors sold heavily. These stocks were bought by foreign portfolio investors, as well as mutual funds. When the market tanked by nearly 6 percent the following day, retail investors were fairly safe, while the other sets of investors were left holding the losses. This was a rare case of the average investor outsmarting larger, institutional investors, Ram writes.Public sector utility stocks have continued to fare poorly since the election results were announced. The formation of the coalition government has exposed these PSUs to certain risks. As Manish Joshi points out, the coalition members would have opinions about sensitive issues such as the price of fuel and electricity. These decisions may be taken to placate the political partners — but might not be fundamentally sound for the businesses. Subsidised rates in electricity, in particular, are concerning. Investors might steer clear of these stocks until the new government is established and takes some policy decisions.Corporate India always waits to see which sectors get a boost after a new government is formed. This time around, consumer goods companies might have some reason to cheer: a post-election analysis by brokerage firms says that the new government is likely to roll out "pro-consumption initiatives". Suneera Tandon writes that this could provide a boost for FMCG stocks. The central weather department has predicted that India will see a normal monsoon this year — another positive sign for these consumer goods companies. FMCGs have had a rough couple of years, owing to increasing prices due to inflation. On their part, FMCGs are investing heavily in improving their distribution networks to improve their revenue, notes Suneera.In India, the heart of the jewellery market is the wedding market. In its early days, Tanishq didn't exactly understand that: much of its marketing was aimed at a different target market. The jewellery business in India is worth some 50,000 crore rupees — but Tanishq was only pulling in a revenue of about 500 crore rupees. CK Venkatraman, ex-COO of Tanishq, details how the company went from this feeble income to the behemoth it is today. Venkatraman writes it in his own words in his book titled "The Tanishq Story", an excerpt of which we have published.Movie ticket prices have slowly been creeping up. Once in a while, you'll notice that tickets are available for a flick you want to watch — but they cost an arm and a leg! That's because movie theatres in India are increasingly turning premium. Multiplex chains insist on creating fancy infrastructure for movie theatres, while theatres in tier 2 and 3 cities have been dying for a few years. This contrasting trajectory means that the common man is being priced out of going for movies. Lata Jha takes a deep dive into the cinema industry, and writes about its developments — both the good and bad.We'd love to hear your feedback on this podcast. Let us know by writing to us at feedback@livemint.com. You may send us feedback, tips or anything that you feel we should be covering from your vantage point in the world of business and finance. Show notes:Retail investors outplay FIIs, MFs on 4 JuneWill PSUs lose their thunder in Modi 3.0?Brokerages see likely gain in FMCG stock with BJP's return to powerHow Tanishq broke into the bridal jewellery market in India Luxury-format cinemas: Where tickets cost an arm, and popcorn, a leg
Matt and Katie discuss a new stock exchange in Texas (and also New Jersey), Bill Ackman's multiple public offerings and what Roaring Kitty is up to.See omnystudio.com/listener for privacy information.
On this week's episode of the NZXT Podcast... We have Jordan, our Sr. Product Marketing Manager, helping us talk about all of our new products from the H7 Flow to the RGB Core Single-Frame Fans to the new PSUs! And sadly, he's a Tottenham fan... And "what do we think of Tottenham?!" Catch the replay at twitch.tv/NZXT!
Welcome to CNBC-TV18's Marketbuzz Podcast. Here are all the important cues ahead of the market session of June 5 - The Lok sabha election is out and the NDA led Prime Minister Narendra Modi is all set to form the government again for the third straight term. However, the outcome wasn't exactly how the NDA anticipated and definitely not the way the market anticipated. The market, that factored in at least 290-300 seats for the BJP on a standalone basis, sold off sharply after the incumbent party failed to cross the 272 mark by itself. - This sentiment led to the biggest single-day drop in four years. BSE-listed companies lost ₹30 lakh crore in market capitalisation. PSUs and Adani Group stocks were the biggest contributors to that drop. - Brokerage firm Bernstein, meanwhile, expects Indian equities to 'sell down' in the extreme near term after the mandate from the Lok Sabha elections. However, it has left its Nifty target unchanged at 23,500 for the end of the year. -Stocks to watch: Tata Motors, Wipro, Vodafone Idea -In terms of the election certain key events are due today like the Cabinet meeting at 11:30 am. Chandrababu Naidu and Nitish Kumar are expected to be in Delhi today whereas the I.N.D.I.A block is supposed to meet at 6 pm this evening. These political developments are also likely to have an impact on the market. -In terms of global cues, Asia-Pacific markets were mixed this morning as investors assessed India's election results. Overnight in the U.S., the Dow Jones Industrial Average rose as Wall Street sought its footing after an uneven start to the month. -The GIFT Nifty was higher, trading at a premium of more than 140 pts from Nifty Futures Tuesday close, indicating a gap-up start for the Indian market Tune in to CNBC-TV18 for more cues
Welcome to CNBC-TV18's Marketbuzz Podcast, here are all the important cues ahead of the trading session of June 3 -In what is likely to be one of the most interesting sessions of the year or even more, the Gifty Nifty suggests not just a record high for Nifty but a start with gains of more than a whopping 500 points. -Before the final D-Day tomorrow that is the result day of Lok sabha elections 2024, exit polls on Saturday forecast a historic third term for Prime Minister Narendra Modi. The exit poll results were also on similar lines of market anticipation. -Most exit polls released predict a historic third term for Prime Minister Narendra Modi. The Bharatiya Janata Party-led National Democratic Alliance (NDA) is projected to secure more than 350 seats, comfortably crossing the halfway mark in the Lok Sabha. Although it may fall short of the ambitious '400 paar' target -An exit poll conducted by News18 Poll Hub is expecting the National Democratic Alliance (NDA) to win between 355 - 370 seats for the Lok Sabha elections. The Bharatiya Janta Party (BJP) is expected to win between 305 - 315 seats, which is nearly at par or slightly higher than the 303 seats the party won in 2019. -The Nifty had a forgettable last week as investors chose to book profit from record levels and wait for the exit polls outcome by sitting on the sidelines. The index ended 2% lower in the week gone by. Investors lost over ₹8 lakh crore courtesy of the weakness seen last week. However, they might look to recover most of that sooner or later, after the exit poll outcome. -Expert commentary is key to watch today, Prashant Khemka of White Oak Capital believes that the Nifty will be hitting levels of 50,000 in the next five years, which is more than double of where it currently is. Raamdeo Agrawal, Chairman and Co-founder of Motilal Oswal Group, believes this could mark the beginning of a 'higher for longer' market rally, especially if the BJP achieves its '400-paar' target. -Among the sectors that brokerages have bet on that are likely to be the key beneficiaries on the continuation of the current government would be PSUs, railways, defence, and other manufacturing and capex oriented sectors. Raamdeo Agrawal of Motilal Oswal though, expects the banks to emerge as the outperformers. CLSA also prefers larger banks due to the valuation comfort. -Stocks to watch: Hero MotoCorp, Tata Motors, Maruti Suzuki India, TVS Motor, Mahindra & Mahindra, Ashok Leyland, Eicher Motors, Escorts Kubota, defence PSUs, railway stocks, Adani Ports, Canara Bank, Welspun Corp, Aurobindo Pharma, MOIL, Coal India, Ashoka Buildcon, REC, Inox Wind, Aarti Pharmalabs -On the global front, Asia-Pacific stock markets mostly rose Monday ahead of a private survey on China's manufacturing sector. Wall Street futures were calm ahead of the first trading day in June, with the Dow Jones Industrial Average futures up 25 points, or less than 0.1%. S&P 500 futures were flat, and Nasdaq 100 futures were down 0.1%. -Oil extended losses this morning after OPEC+ set out a plan to restore some suspended production as early as October, despite concerns over the demand outlook and robust supply from outside of the group. Tune in to Marketbuzz Podcast for more cues
Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Monday, May 13, 2024. My name is Nelson John. Let's get started:Active investors in Indian equity markets have had a good run: in the last three years, the Sensex has increased by more than 45 percent. Often, the state of the stock markets also reflects the mood of the nation. If the country's economic output is robust, the market trends upwards. As Madan Sabnavis, chief economist at Bank of Baroda, writes, it is often assumed that a rising stock index is indicative of broad confidence in the economy and acts as a foreteller of its performance. But is this really true? Sabnavis argues that broader market trends do not reflect the true picture of Indian commerce or macroeconomic conditions. He compares India's GDP, Nifty, and Nifty companies' profits to make his point. Next time someone says the country is doing great because the stock market hit a new high, you might want to point out that the correlation isn't necessarily true.Investors opt for mutual funds when they want a more passive experience to investing. If you're bullish on one sector, you can even choose a sector-specific fund like banking, PSUs, and auto stocks. But what if you want to reap the rewards from a more risky instrument like cryptocurrencies? Since January 2020, the Bloomberg Galaxy Crypto Index, which is a collection of some of the top cryptocurrencies, has delivered 500 percent returns. That's where a fund like BitSave comes in. BitSave is a startup that operates a crypto-only fund, and isn't bound by SEBI's regulations as it operates out of Seychelles. We invited Yash Roongta, founder of Alt Investor, to write about this interesting but volatile investment option.AI this, AI that — it's impossible to escape the all-encompassing artificial intelligence. Sam Altman, CEO of OpenAI, is drumming up hype for GPT-5. Some believe that along with GPT-5, OpenAI is also set to launch a search engine that would go toe-to-toe with Google. ChatGPT has also been licensed to a variety of businesses, and makes a lot of money from it. But as Leslie D'Monte writes, companies would do well to hedge their AI bets. Despite the hype for GPT-5, it might turn out to be a dud — that's where the competitors come in.If you've made international summer vacation plans, I must commend your patience. It's incredibly difficult to get a visa to the US or Europe these days. Appointments for the Schengen visa are months away, and you're not certain to get them either. Spurned by Europe, Indians are now looking at other destinations, writes Varuni Khosla. Varuni spoke with travel agents who are curating trips for holidays to places such as South Korea and Japan. Closer home, countries like Sri Lanka, Vietnam and Thailand are attractive destinations too, especially after they started providing visa on arrival for Indians. Europe's loss is India's gain, and Indians are cashing in.India is now a chess-playing nation. Much of the credit must be given to Vishvanathan Anand, India's first, and for a long time, only chess grandmaster. India now has 84 grandmasters. The latest Indian chess star is Gukesh Dommaraju, a 17-year-old prodigy who became a grandmaster at the tender age of 12. Gukesh now enjoys fame and celebration usually reserved for India's cricket heroes. We invited Deepti Patwardhan, noted sportswriter, to take a deep dive into the history and moves that made Indians in chess a force to be reckoned with. We'd love to hear your feedback on this podcast. Let us know by writing to us at feedback@livemint.com. You may send us feedback, tips or anything that you feel we should be covering from your vantage point in the world of business and finance. Stock market indices say little about economic growth The curious case of India's first crypto mutual fund Why buzz over search engine may help big techSpurned by Schengen, Indians are being swayed by the lure of liberal visas Gukesh D and the rise of Indian chess
Hello and welcome to CNBC-Tv18's Marketbuzz Podcast, here are all the important developments ahead of the trading session of March 22 -The Indian market is likely to open in green as the gift nifty suggests amid mixed global cues. -While other Asia-Pacific markets opened mixed this morning, Japan's Nikkei 225 crossed 41,000 to hit a fresh all-time high as Japan inflation accelerated in February. -Overnight in the US, all three major indexes hit fresh records, continuing the rally from Thursday after the US Federal Reserve held rates steady and maintained its rate cut forecast for 2024. -Oil prices sank in early Asian trading on the possibility of a nearing Gaza ceasefire, which could loosen global supply, at the same time a stronger U.S. dollar and faltering gasoline dampened demand sentiment. Brent crude futures fell to $85.60 a barrel. -Bitcoin has peeled back more than 10% from its all-time high as the appetite for fledgling spot Bitcoin exchange-traded funds moderates. JPMorgan Chase and Co. strategists warned the retreat has room to run. -In the previous session back home, Nifty 50 and all other sectoral indices staged a rebound, courtesy the Federal rate decision. The Nifty managed to scale past Wednesday's resistance band of 21,900 - 21,950 to close above the 22,000 mark. -Even in a rebounding market, foreign investors were net sellers in the cash market yesterday, while domestic investors continued to be buyers. -Market analysts suggest that the market is not out of the woods yet despite some relief yesterday. -Stocks in focus: TCS, Infosys, Wipro, PSUs, Bharat Dynamics, Prestige Estates, IRB Infra, DOMS Industries, Tata Communications, Mazagon Dock Shipbuilders, Veranda Learning, IREDA -The Enforcement Directorate has arrested Delhi Chief Minister Arvind Kejriwal in connection with the ongoing probe into alleged irregularities surrounding the capital's liquor policy. -The much-awaited Indian Premier League (IPL) 2024 commences today in Chennai, with the Chennai Super Kings and Royal Challengers Bengaluru competing against each other. Tune in to the Marketbuzz Podcast for more
Marketbuzz Podcast: The GIFT Nifty is indicating a gap up start for the Indian markets. Watch out for stocks like IndiGo, PSUs and JM Financial
Two days after his reply in the Lok Sabha to the Motion of Thanks on the President's address, PM Narendra Modi made another speech in the Upper House, guns firmly trained on the Congress again. In Ep 1395 of Cut The Clutter, Editor-in-Chief Shekhar Gupta explains the key takeaways from Modi's speech, and the 3 major points of attack it sought to counter: Social justice, federalism, state of PSUs.
Indian benchmark indices, Sensex and Nifty 50, are likely headed for a muted opening in the trading session of February 6. In the previous session, Nifty 50 made an intraday high of around 21,960 and corrected almost 200 points from those levels. Public sector companies like SJVN, NHPC, oil marketing companies (OMCs) have also been on the radar and have corrected sharply. Several stocks like Ashok Leyland and Suven Pharma are expected to react to Q3 results. Meanwhile, companies like Britannia, Nykaa, Nazara Tech and Lemon Tree among others will report their quarterly results. Globally, the handover from Wall Street is weak while Asian markets traded mixed in the morning. The GIFT Nifty is indicating a muted start for the domestic market Tune in to the Marketbuzz Podcast for more cues
India blocked access to nine foreign cryptocurrency exchanges on 12th of January. The government believed that these offshore platforms were not complying with the country's anti-money laundering law. And investors were also using them to circumvent TDS costs. Some of them -- like Binance -- were quite popular among domestic investors. But now, crypto investors are reportedly flocking to domestic exchanges. There is a surge in registration. So will this crackdown on offshore exchanges help desi crypto platforms? Clearly, there are signs of thaw in the ongoing crypto winter. It started with the collapse of the famous foreign exchange FTX. But for many, winter means a season of earnings. The longer it is, the better. But, even as north India is reeling under a prolonged spell of winter, its famous skiing resorts are without snow. Locals in Uttarakhand's Auli and Kashmir's Gulmarg -- whose livelihood depends on tourists -- are looking towards the sky for some divine help, as tourists are cancelling bookings. But why are hills in these regions facing a snowless winter? After the hills, let us now turn our gaze to financial markets. The government's ‘Make in India' push and indigenisation in the defence space opened floodgates for order flows for most PSUs in 2023. Nearly 30% of the stocks doubled investors' wealth last year, while 27 stocks hit record highs. The rally has extended thus far in 2024 with the Nifty PSE index touching its all-time high level on January 16. But the rally has taken valuation multiples to multi-year highs. So, will the pack be able to defend its gains? Or is a sharp correction waiting around the corner? After stocks, let us now see what is happening in the world of cryptocurrencies. The US Securities and Exchange Commission last week approved applications for exchange-traded funds or ETF, that are primarily based on bitcoin. Supporters hope it will attract new investors to the token and boost its price in the long term. But what is the Bitcoin Spot ETF? Find out about it in this episode of the podcast.
Pre-historic to Modern Temple Trail of Bangalore with Arun Bharadwaj. Bangalore is known for its trees, parks, IT parks, ISRO, PSUs and lovely weather but not many of us know about the ancient and medieval temples that continue to live within the BBMP limits.
In today's episode for 2nd November 2023, we see why the government wants PSUs (Public Sector Undertakings) to pay more dividends into its coffers. Talk to Ditto - https://bit.ly/45uvyDL
Pat and Sweens take a look back at PSUs road win against Illinois before we move on to the Whiteout against Iowa. Preview episode for that coming later this week.
In today's episode we take a quick look at Zoho's latest milestone, with the Indian SaaS leader crossing 100 million users, but first a few headlines. Headlines HeromotoCorp will invest up to Rs. 550 crore in a rights issue of Ather Energy Private Limited, the Indian two-wheeler giant told stock exchanges on Sep. 4 in a statement. Atomicwork, a cloud software provider of productivity software, has raised $11 million in seed funding led by Blume Ventures and Matrix Partners, TechCrunch reports. Richard Lobo, an executive vice president and former head of human resources at Infosys, has resigned, marking the latest in a series of top-level exits at the company, Moneycontrol reports. One thing today Zoho, India's biggest cloud software company, has surpassed 100 million, the Chennai-to-California company said in a press release. Zoho says it is the first bootstrapped SaaS company to reach this milestone. Last year the company hit $1 billion in revenues, and Zoho is one of a handful of SaaS companies in India that are profitable. Started more than 25 years ago, the company's growth over the last 15 years, with the rise of the cloud computing model, has taken it from 1 million users in 2008 to 100 million today. The latest 50 million users were added within the past five years. And the company sells more than 55 products to over 700,000 businesses in some 150 countries, according to its press release. “We are not done yet,” co-founder and CEO Sridhar Vembu said in the release. The company has an innovation pipeline covering the next 10 years and it is investing in deep technologies to serve billions of users around the world, he said. Zoho defines midmarket customers as companies with 250 employees each and those with a thousand or more workers as classic enterprise, or the upmarket segment. India shows a significant presence of enterprise customers adopting Zoho, CMO Praval Singh had said in an interview with Forbes India in June this year. In the SaaS business, larger customers mean more users and increased complexity, resulting in higher revenue per customer. The upmarket segment contributes over half of Zoho's business in India, and a third of its entire business. As its products matured, larger businesses adopted its solutions. This led Zoho to establish dedicated teams with expertise in serving large companies. “We also developed an interoperable ecosystem, enabling easy integration with third-party applications through APIs, connectors, and partnerships,” Praval said in that interview. To cater to larger enterprises, the company launched the Zoho Marketplace, which has more than 1,800 extensions and garners 30,000 monthly installations. In 2018, Zoho introduced an enterprise business solutions team as trusted partners, offering assistance in digital transformation projects, from consulting to implementation and training. Zoho has focused on helping large enterprises streamline and optimise their technology stacks, addressing challenges such as integration, data silos, scalability, and flexibility. By helping customers overcome these obstacles, Zoho has played a meaningful role in supporting their growth and progress over the years, Praval says. India is one of the fastest-growing markets for Zoho, where the company has witnessed three year compounded annual growth of 65 percent in its upmarket segment. Customers in India include IIFL, Bigbasket and Tata Play Fiber. Zoho's upmarket growth in India is led by sectors such as banking, financial services and insurance (BFSI), manufacturing, retail, fast-moving consumer goods (FMCG), pharmaceuticals, and IT. The company has collaborated with government departments and public sector units (PSUs) to support their digitalisation efforts and contribute to the modernisation of the public sector.
Check out the Hacked podcast (The logo is blue) wherever you listen to shows! Like Spotify: https://open.spotify.com/show/21zZfOy7VCSIIWlJ64DElv?si=5e53974411a9400c Learn more about the My Best Buy Membership program at https://lmg.gg/mybestbuy Store link may provide some compensation to Linus Media Group. Get $5 off your Magic Spoon order with code WAN at https://lmg.gg/magicspoon Timestamps (Courtesy of NoKi1119) Note: Timing may be off due to sponsor change: 0:00 Chapters 1:57 Intro 2:25 Topic #1 - Google accused for ripping off advertisers 4:34 Linus's & Luke's experience with creating ads 7:07 Hidden skip buttons, Googles' viability 10:22 GVS's CEOs' response, list of impacted brands 13:44 Topic #2 - EVGA's motherboard teams' resignation 14:08 EVGA's response, GN's review, shorter warranty 16:06 LTT's PSU video, EVGA's PSUs are out of stock 19:44 Topic #3 - Meta's Instagram Threads published 20:52 Linus doesn't understand IG, "this is genius" 23:10 Linus mentions Meta's mentality & Twitter 25:26 Luke on Threads, MrBeast, lack of account verification 28:07 Possible LTT account, Luke on "tweeting threads" 29:22 Luke explains Threads, Linus on the lack of websites for apps 33:50 Twitter threatens to sue, Meta's comeback 35:13 Linus on Elon firing people, Luke on Twitter's "revenue" 38:57 Content moderation, Linus wishes Threads good luck 42:30 Topic #4 - LinusTechTips's 24/7 LTT TV stream 45:49 LTT TV is participating in a Google trial 47:17 Discussing work on LTT TV, Dennis's sponsor spots 52:57 LTTStore stubby screwdriver notification 53:20 "Lime Day" three days sale from the 12th to 14th 55:57 Luke suggests Lime Day stream, discussing shipping costs 58:09 Merch Messages #1 ft. Blaming Dan 58:40 Would LMG get to where Apple is ft. "Owning" land, Luke the slave 1:02:57 Why do people prefer NVIDIA's DLSS over FSR? ft. "LMG" 1:06:56 Topic #5 - G0at sued by Terasynth's CEO 1:12:06 Topic #6 - Gfycat to shut down by 1st of September 1:16:28 Topic #7 - France's law allows spying people 1:18:57 A plausible security breach, recalling Amazon 1:20:03 Discussing surveillance with LMG & devices 1:22:22 Air gap network switch with a physical disconnect 1:25:23 Luke on backdoors, Linus on laws & normalizing devices 1:29:25 Linus's & Luke's phone pics & usages 1:33:09 Sponsors 1:35:13 Merch Messages #2 1:46:22 Luke's birds 1:47:07 Topic #8 - Jolly Roger's AI wastes salesperson' time 1:49:43 Topic #9 - Man sued over a thumbs-up emoji 2:07:36 Topic #10 - Nintendo's annual report, low CEO compensation 2:12:21 Topic #11 - TikTok now promotes books 2:14:19 Topic #12 - New 12VHPWR standard to support high wattage 2:15:12 Topic #13 - Fairphone is arriving to America 2:15:20 Merch Messages #3 ft. WAN Show After Dark 2:17:22 Linus's house pool updates 2:22:41 Starting with badminton with zero friends? 2:25:38 Do you agree with Louis Rossmann's take? 2:28:47 Editors' creative influence & LMG's guidelines? 2:32:55 Ever been tempted to stray from LMG's pro-consumer concept? 2:36:34 Floatplane merch? LTTStore tech pants ETA? 2:40:45 Linus's issues with Z-Waves 2:41:21 Does Luke's love of birds extend to bird watching? 2:42:46 What changed with Linus's stance on PC retail after Labs? 2:45:53 What happened to the AMD GPU challenge? 2:48:38 How did Techlinked's video style come to be? 2:50:30 Advice for getting gig work despite NDA? 2:53:54 Linus's thoughts on switching to iOS? 2:54:18 TBD release date with the NAS product? 2:55:22 Learning to build an infrastructure with a budget? 2:57:26 ETA for the LTT stubby screwdriver? 2:57:57 Is this where you thought you'd be in your 30s? 3:00:56 Thoughts on ASUS's ROG Ally 3:02:21 Ever thought of sharing business tip advice? 3:04:40 Releasing plans for the LTT desk? 3:05:34 Tips with starting a company 3:06:24 A hot take on the printer industry? 3:06:55 Which Labs purchase excites you the most? 3:08:12 Possibility of merch messages getting transcripted? 3:08:48 Outro
HAL has been in the news of late over a proposed mega deal with the US that will help the government aerospace & defence giant churn top-of-the-line fighter jet engines in partnership with GE. Over the past 5 years, since its IPO was launched, HAL has multipled market cap six times & so have several other defence PSUs. In Ep 1248 of Cut The Clutter, Editor-in-Chief Shekhar Gupta explains why defence PSUs are prospering, and what it means for the military.
एलआईसी विश्वविद्यालय को पूरी तरह से सुसज्जित एम्बुलेंस प्रदान करने के लिए प्रतिबद्ध है, अनुसंधान और विकास को बढ़ावा देने में मदद करने के लिए एक और पीएसयू एक चेयर स्थापित करने की योजना बना रहा है और एक और डोनेशन के लिए बातचीत कर रहा है.
Wishing You a Great 2023Others might begin the new year with resolutions, but we prefer excuses. Last year, we wrote only 42 editions. There was much to do in the remaining ten weeks. There was the Football World Cup, a few time-offs, a couple of vacations, and of course, a lapdog ate our laptops. If these honourable reasons weren't enough, we add another: we wrote a book!Our book Missing in Action: Why You Should Care About Public Policy will be published on 23 January 2023. Like this newsletter, it is a 'pop' public policy book in which we explain concepts through stories rooted in the Indian context. We couldn't have asked for a more helpful and encouraging team than our friends at Penguin India, who got us over the line and in time for a Republic Day release. The book is ready for pre-order now. You will have to excuse us for a bit of promotion that we will do over the next month or so on these pages. So what's the book about? At the heart of the book is our belief in the core objective of public policy. It should increase the welfare of the citizens. Like the verse from Bhagavad Gita goes:अनन्याश्चिन्तयन्तो मां ये जनाः पर्युपासते।तेषां नित्याभियुक्तानां योगक्षेमं वहाम्यहम्।।9.22।।That word - Yogakshema - to preserve the prosperity and welfare of citizens is what public policy should be about. We write this newsletter with the hope that it will, in its small way, move the needle on discourse. The book is a logical extension of this hope. Hope, as Andy Dufresne taught us, ‘is a good thing; maybe the best of things'. We are hopeful about the future of India, but not in a misguided nationalistic way. We believe we can make an impact, however small, on the demand side of the policy equation. That making people aware of policy choices and helping them anticipate the unintended will lead to a change in the supply side of politics. There are two preconditions for this to happen, which we assume hold true. One, people have time and mental space available for discussions that matter to their lives. Two, a belief we can arrive at what's good for us through those debates and discussions.In the book, we have taken the citizens as the point of reference and elaborated on their interactions with the state, the market and the society. Think of the book as a primer to understanding the fundamentals that underpin these interactions. We cover why we need a state or the markets, what is the role of society and how the three interplay among them. We go back to the foundational texts on political philosophy and economy in the book to explain the core concepts of public policy but in what we hope is an accessible fashion. We have tried to avoid jargon and approached all topics using first principles. Like the 16th century Bhakti poet, Nabha Dasa, who compiled the life of every saint from time immemorial in Bhaktamala, wrote:"Jaat na puchhie saadhu ki, poochh leejie gyan, mol karo kirpan ka, padi rahne do mian" ("Do not ask for the antecedents of a learned saint. Only seek their wisdom. The true worth is what's within us and not what you see from outside.")We have been ecumenical in our approach in this book.The other thing you might find interesting in the book is our focus on finding examples in the Indian context to illuminate a point or to make a case for our arguments. This will contextualise a lot of the discussions in the book to our immediate environment, and we hope it will make our reasoning clearer to our readers. Further, we have tried to keep ourselves free of dogma in the book. We have strong faith in markets, but we understand their limitations and the critical role of the state and society. We have been open to knowledge from all sources and have challenged our premises and priors before stating our point of view. Lastly, the tone of the book is conversational, and it is filled with some of our usual groan-inducing Bollywood references. Special thanks to all of you for reading us and engaging with us. Without your encouragement, we wouldn't have attempted a book. And now that we have said such good things go buy the book! Truth be told, we are a tad nervous about how the book will be received. We hope you will enjoy reading it and recommending it to others. Show it some love, friends and order it now. ThanksPranay & RSJIndia Policy Watch: How Did I Do On My Predictions For 2022?— RSJ Each year I start with a prediction post. But before I get down to my predictions for 2023 (which I will in the next edition), there's the unfinished business of how I fared on the predictions that I made in 2022. So, here's a look back at the year through the lens of my predictions at the start of the year.Economy - Prediction #1 This is what I wrote:“we will be in the 5-5.5 per cent growth range (if you take the base of FY 21). Inflation (CPI) will be around 5 per cent with an occasional jump to 6 per cent during the year despite threatening to go out of control. Maybe three interest rate hikes (a total of 75 bps) during the year will keep a lid on it. Public markets will moderate a bit (around 10 percent upside).... China won't attract it (foreign capital) as it will continue to go down the path of self-reliance and its notion of an equal society.”Result: No one could see the Ukraine war coming back when I made the predictions. Notwithstanding that, I think I got the growth and the inflation prediction in the ballpark. The war threw the interest hike prediction off totally. Instead of a 75 bps hike over the year, we got a 225 bps increase. I think, on balance, the Indian economy did quite well in 2022, given the headwinds. Domestic consumption was strong; we weathered the peaking of oil and commodity rates quite well, the twin balance sheet problem is now behind us, and by the end of the year, we saw private Capex growing. Not a bad state of affairs. I would have taken this happily at the start of the year. Overall, I'd give a 6/10 on this prediction.Economy - Prediction #2“There won't be much to write about reforms. Some attempts at piecemeal MSP reforms will be attempted to make up for the repealed farm laws. The National Monetisation Pipeline will get going but the progress will be modest. A couple of more disinvestment proposals of PSUs (including banks) will be taken up. But this will be for raising revenues rather than a planned strategy to make PSUs market competitive. The LIC IPO will just go over the line and that will be the big event to showcase reforms.”Result: Got that pretty much spot on. Maybe an 8/10.Politics - Prediction #1 & 2Here's what I wrote:“BJP election machine will continue its winning run barring the odd defeats in Punjab and Goa. The big prize, UP, will be fought hard but BJP will win a safe majority. The bahujan vote of the depleted BSP will shift to it more than to SP and that will make all the difference.”“There will be a split in the Congress. The party in its current form is untenable and beyond a point, there will be nothing to lose for those who split it. The key question is who will lead it - those who have a political base and think Congress leadership is a liability that cannot be carried along any further, or those without a political base but with strong ideological opposition to the BJP. My guess is it will be the latter. In any case, it won't make much of a difference.”Result: Punjab went the way I had guessed. Goa was close. Congress didn't split but it lost senior leaders like Capt. Amarinder Singh and Ghulam Nabi Azad among others. And despite the Bharat Jodo Yatra, which has only been in the news because people cannot believe Rahul Gandhi has sustained it for so long, I don't think Congress improved its election prospects dramatically this year.Society - Prediction #1“Expect love jihad and anti-conversion laws in various states, some kind of population control bill, a revival of CAA and a push for a uniform civil code during the year. There's that early 20th century Europe playbook of stoking demographic anxiety that plays on a threat to the survival of a civilisation or a way of living. The pitch will be queered on this. Indian society is a fertile ground for it. This land can be shown to its people as a palimpsest. But it can, perhaps more easily, be shown as a glorious, ancient civilisation that's been asphyxiated for centuries by ‘outsiders'. A true revival of it requires setting the past records straight and the right demographic arithmetic.”Result: Well, there was the usual noise around a lot of these issues but, thankfully, we had a somewhat muted year on legislating these. This didn't mean that the media mouthpieces and influential voices within and outside the government went slow on stirring the pot on these topics. We have reached a point where turning back on these issues will be difficult. It remains the one faultline that can derail our economic prospects that look surprisingly good at this moment. I will give myself a 7/10 as much as I want to score a zero here. Society - Prediction #2“Politics is driven by the idea of having an enemy; the other. For much of the last decade, this was the left-liberal cabal (Lutyens, Khan market, NYT, Soros, Amnesty etc). Even when much of news and propaganda came to be dominated by the right-wing, there was a strawman of this all-powerful cabal of anti-nationals that was kept alive because the notion of an enemy is critical. But once you have decimated it, what do you do? You look for the enemy within.”Result: I will be the first to admit that I am still amazed at how this prediction isn't yet true. There are still imaginary left cabals to be fought against. It is a measure of both the enterprise of the propaganda machinery and the gullibility of ordinary voters that we are still drinking up all the kool-aid that we are being served on how anti-India interests are still the ‘establishment' in India and globally. There's still a long way to go before finding the enemy within your camp to fight. I will give a 5/10 on this. Miscellaneous - Prediction #1“There will be serious big tech regulations that will come into play in America. Others will follow suit. India will have a version of this along with dollops of atmanirbharta. This will mean some tough days for big consumer tech giants in India.”Result: Some big tech regulations have come into play in the US, and the collapse of FTX will lead to further clamping down. India came down heavily on Chinese apps and made life difficult for consumer-facing tech giants like Amazon, Meta and Alphabet. I expect this to continue. I guess a 7/10 on here will be about right. Miscellaneous - Prediction #2“China will struggle for growth. Demographics, debt and delusion have come together in China in a way that will make it difficult for it to sustain growth. China-Russia relationship will get stronger with their support for each other and for other authoritarian regimes around the world.”Result: Even without the Ukraine war, I thought this was how it was going to play out. It only became stronger with the war. I think I got a 9/10 there. Miscellaneous - Prediction #3“Meta, Crypto, Decentralisation, NFT (and everything else pumped up by the Valley tech bros) will see their hype abate (about 25-30 percent drop in asset value). When John Terry starts buying Bored Ape NFTs, you know the whole thing has jumped the shark. About time too.”Result: I should have followed my gut more and doubled down on this last year. I could sense a big correction, and a large-ish collapse was in the offing in this space. But I stopped short of calling a mini meltdown in this space. But that's how it turned out by the end of the year. An 8/10 here.So, there we are with how I fared on last year's predictions. I will come back next week with a few specific and somewhat contrarian predictions for 2023. Not(PolicyWTF): Making Education ProfitableThis section looks at surprisingly sane policies- Pranay KotasthaneThe University Grants Commission (UGC) released draft regulations earlier this week, permitting foreign universities to set up Indian campuses. While the draft needs some much-needed improvements, this reform is in the right direction. For the moment, keep the programmatic part of the policy aside. It's the politics of this move that caught my attention.Ritika Chopra in the Indian Express reminds us that the first such attempt was made in 1995. Another one in 2005-06 never made it past the cabinet. Then in 2010, the UPA government brought in another bill. The Foreign Educational Institutions (Regulation of Entry and Operations) Bill, 2010 was introduced in the Lok Sabha, a Standing Committee gave some suggestions, the government sat on it for three years, and it was tabled again in 2013. By 2014, the UPA was voted out, and the bill lapsed.It's interesting to observe how the Overton Window has changed on this issue. The 2010 bill was far less radical than the draft UGC regulations being proposed now. That bill disallowed foreign universities from repatriating any money abroad, it mandated that interested entities have a corpus fund of at least Rs 50 crores, and it allowed only entities that had operated for at least 20 years. Despite these unreasonable restrictions, the Left and the BJP still found the bill too permissive and buried it. The Left had a far greater influence on the matter as it was a part of the ruling coalition. I went back to check the best form of arguments put forward by the Left. True to form, they argued that this bill would encourage “commercialisation” of education. The CPM said it would open the ‘floodgates for weakening and dismantling the public education system in higher education. And India could be atmanirbhar in developing a higher education system; we need no help from anyone. Shouldn't we reflect on how much this ideological opposition cost us? What was the number of people who went ahead to get quality education in other countries, including in risky countries like Ukraine and Kazakhstan? Blocking foreign educational institutes for equity reasons is akin to banning people from eating Sushi just because India still has a large poor population. Forget the fact that a former General Secretary of the CPM is himself an alumnus of a British university. The BJP's objection predictably was that the courses offered could ‘adversely affect the sovereignty and integrity of India'. That insecurity hasn't subsided, and the new draft regulations have an explicit clause forbidding such courses. We can interpret the new draft regulations as an example of the Overton Window stretching on this issue. On some counts, it has extended the boundaries of freedom by allowing people to have more options within India while allowing foreign universities to repatriate money back home. It's a hesitant acknowledgement that profit-making in education is not bad. On the other hand, the Window has also stretched toward “lesser freedom” with clauses banning certain types of courses, effectively implying that non-controversial “technology” universities might receive preference over liberal arts universities. Real-life policymaking is often a search for the second-best option. So I'll take the door left ajar, rather than it remaining closed altogether.HomeWorkReading and listening recommendations on public policy matters* [Podcast] Some predictions for 2023 by the Puliyabaazi team* [Book] Optimally Irrational: Good Reasons Why We Behave The Way We Do is promising.* [Article] Many editions ago, we wrote about the EU ban on chargers, warning that it could come to India as well. That ban is here though, and we again reiterate why it is counterproductive. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
In this edition of Market Minutes, N Mahalakshmi talks about the potential for outperformance in public sector undertaking. Market Minutes is a morning podcast that tracks the risk-reward in stock markets by putting the spotlight on keys data points and developing trends
ISRO's heaviest rocket set to enter global commercial service, PM Modi to launch drive to fill 10 lakh posts in government, PSUs, Toll in Army helicopter crash in Arunachal Pradesh rises to five, and other top news in this bulletin.
NVIDIA RTX Titan Ada: https://www.notebookcheck.net/NVIDIA-RTX-Titan-Ada-Four-slot-and-full-AD102-graphics-card-shelved-after-melting-PSUs.660577.0.html 12GB 4080 Unlaunch Event: https://www.nvidia.com/en-us/geforce/news/12gb-4080-unlaunch/ Overwatch 2 Issues: https://www.eurogamer.net/modern-warfare-2-has-the-same-phone-number-problem-as-overwatch-2 Final Fantasy Closes: https://www.gematsu.com/2022/10/final-fantasy-vii-the-first-soldier-to-end-service-on-january-11-2023 Follow on Twitter: https://www.twitter.com/reetin Buy Stuff From Green Man Gaming: https://t.co/fhL17TWpi4 Subscribe on Youtube: http://www.youtube.com/reetin Follow on Twitch: http://www.twitch.tv/reetin Google Play: https://play.google.com/music/m/I6jatgkdbr7mbmgkilzbwbo5li4?t=Reetin_Podcast iTunes: https://itunes.apple.com/us/podcast/reetin-podcast/id991683896?mt=2 Tunein: https://tunein.com/podcasts/Video-Games/Reetin-Podcast-p1142473/ Stitcher: https://www.stitcher.com/podcast/reetin-podcast Spotify: https://open.spotify.com/show/0Sv8URFI0C02rejZc3yo9M Amazon Music: https://music.amazon.com/podcasts/5d4e2abc-7095-4654-b123-e6be2041c9ad/Reetin-Podcast?ref=dm_wcp_pp_link_pr_sSee omnystudio.com/listener for privacy information.
[0:58] Intro ft. "slow news day" [1:56] Topic #1: EVGA leaves the GPU market. > 4:20 EVGA's sales revenue, > 5:52 No plans to work with AMD or Intel. > 7:11 NVIDIA controlling prices & projects. > 9:12 CEO claims no employees to be laid off. > 10:44 NVIDIA's shady history, Linus's notes. > 18:24 Advantages of NVIDIA having many AIBs. > 21:08 Discussing EVGA's move & products > 22:40 Linus called it 12 years ago. > 24:05 Reading EVGA's quote, NVIDIA the bully. > 28:02 Recalling NVIDIA blocking Hardware Unboxed. > 34:42 More of NVIDIA's shady history. > 42:22 NVIDIA is hard to work with, RIP EVGA. > 46:22 With EVGA GPUs gone, which AIB to buy from? [47:18] Topic #2: Etherium merger was a success. > 49:02 ETH & BTC price drop, ETH's CEO quote. > 49:52 White House's framework on regulating crypto. [51:18] Topic #3: NVIDIA leaks, tightening stock. > 53:21 Leaked specifications of RTX 4xxx. > 54:10 Excitement towards the GPUs, modded Cyperpunk. [55:32] LTTStore myshopify test, 64oz bottles. > 1:02:32 New waffle long-sleeve colors. [1:03:36] Sponsors. > 1:03:55 KIOXIA's CM7 series NVME SSD. > 1:05:12 Squarespace site builder. > 1:06:40 Secretlab chairs. [1:07:24] Discussing LTX2023 floorplan. [1:08:20] Topic #4: Result of Linus-Dennis fight. > 1:09:22 Dennis spent a month training, Linus's leg injury. [1:13:30] Topic #5: Stray cats update. [1:17:53] Topic #6: Google experiments with ads. > 1:18:52 Up to 10 ads, discussing midrolls. > 1:21:08 Ads impact on Google. [1:25:08] Merch Messages #1. > 1:25:43 UniFiDream Machine V.S. PfSense. > 1:26:30 Steam Deck & streaming as a setup. > 1:27:40 Quadro works on Linux, not Windows. > 1:28:36 SC pants for hoodie idea. > 1:28:55 LTT's apocalypse PC, mesh filter. > 1:34:52 Best water blocks for watercooling. > 1:38:01 Would EVGA move to Intel or AMD? > 1:39:38 Linus's pet goat story. [1:42:25] Topic #7: Amazon sells dangerous cords. > 1:46:02 Difference between defects & dangerous. > 1:47:04 "Water-proof", misleading specs. > 1:50:07 Power cords, discussing Labs size. [1:52:23] Topic #8: Sponsoring a "part" of a video. [1:57:11] Topic #9: Intel "rebrands" low-end laptop CPUs. [1:59:36] Merch Messages #2. > 1:59:58 Linus's plans for the PVC pipes. > 2:00:39 Internet to a detached garage. > 2:01:58 Getting your SO tech-savvy. > 2:03:01 3D printers & other round-ups. > 2:04:32 Second monitor effects on a PC. > 2:05:58 Worst tech purchasing experience? > 2:08:31 Updates on the WAG hoodie. > 2:09:36 Shameless fanboying for companies. > 2:12:42 Proudest gamer dad moment. > 2:14:28 Camera-focus for backpack. > 2:15:42 Measuring performance for benchmarks. > 2:17:35 Linus's favorite pony. > 2:18:18 What to look for in a riser cable. > 2:19:10 Recommendations for rackets below 50. > 2:20:09 Sequential invoice numbers for FP. > 2:20:45 Stealth desk pad, exciting data science. > 2:22:07 Favorite musicians. > 2:23:33 Rackmount PC with Sliger. > 2:24:14 Balancing life & hobbies as a dad. > 2:25:32 Plans for LTT screwdriver colors. > 2:27:15 Raising tech-savvy kid without being tech dependent. > 2:27:50 Using LTT screwdriver underwater. > 2:29:18 RTX 4000 V.S. AMD's 7000 series. > 2:30:17 Wire management product, Luke's favorite LTT product. > 2:30:48 Prediction on the 4000 series stock. > 2:31:15 Why don't PSUs have standard cables? > 2:32:00 Hobbies Linus & Luke want to get into. > 2:33:54 Star Wars, Star Trek or Stargate? > 2:35:18 GPU market, 1080Ti upgrade. > 2:35:48 PSU brand recommendations. > 2:36:10 Best cable for next-room PC. > 2:36:32 Vancouver's real estate prices. > 2:39:12 Why Apple dropped NVIDIA. > 2:40:14 Userbase model for ad partners. > 2:41:26 Breakdown of screwdriver shafts. [2:42:38] Outro. [Cont.] Merch Messages #2. > 2:43:02 Any other collabs?
Led by the IT giants Tata Consultancy Services (TCS) and Infosys, the top listed companies by market capitalisation have reported net increase in employees to their total headcount in FY22, according to analysis from the annual reports. Of them, TCS closed the year ended March with all-time high net addition of 103,546 employees, while Infosys hired 85,000 fresh college graduates, with a net addition of 54,000 employees. IT companies are battling high attrition, fueled by a sharp rise in demand for automation and digitalisation across all industry sectors. The software behemoths are compensating the same with high fresher recruitments. Meanwhile, oil-to-telecom conglomerate Reliance Industries recorded the highest net addition during FY22 with 107,000 employees. In the banking services, HDFC Bank and ICICI Bank added 21,486 employees and 7,094 in the financial year respectively. The hiring outlook is strong too in the near term. According to a teamlease report, the corporates “intent to hire” showed a substantial increase of 7% for the ongoing July-September quarter to 61% and it might hit 70% in the coming quarters largely driven by hiring from tier-2 cities. Now, if we look at most of the listed PSUs, employee headcount has shrunk in FY22. This was the trend observed across sectors. Employment in PSUs is categorised as ‘on-roll' and ‘off-roll'. Managerial staff, supervisory and non-executive employees fall under the on-roll category. Casual and contract workers are classified as ‘off-roll' staff. India's largest state-owned bank State Bank of India headcount was lower at 244,250 in FY22, compared with 245,652 in FY21. Indian Oil Corporation (IOC) too saw its employee strength drop marginally to 31,254. Meanwhile, BPCL employees fell to 8,594 in FY22 from over 9,000 in the previous fiscal. Meanwhile, Coal India and GAIL too saw its employee count drop. Indian Railways' ticketing and tourism arm IRCTC and SBI Life Insurance are the only companies among the top 15 PSUs that have reported an increase in the employee strength in FY22. According to a report in a national daily, the fall in employee count has been coming down for many years. SBI saw its employee numbers go up when there was a merger with five other small banks in 2017-18. ONGC and NTPC had reported employee increase or hired many years ago. So, what explains this phenomenon and why are PSU companies not hiring or increasing their headcount? [Byte of Radhicka Kapoor, Senior Visiting Fellow, ICRIER]
ಕರ್ನಾಟಕದ ಕೆಪಿಟಿಸಿಎಲ್, ಬೆಸ್ಕಾಂ ಮತ್ತು ಬೆಂಗಳೂರಿನ ಬಿಡಬ್ಲ್ಯೂಎಸ್ಎಸ್ಬಿ, ಬಿಎಂಟಿಸಿ ಮತ್ತು ಬಿಡಿಎಯಂತಹ ವಿವಿಧ ಸರ್ಕಾರಿ ಸಂಸ್ಥೆಗಳು ಹೇಗೆ ವಿಕಸನಗೊಂಡಿವೆ, ಅವು ಹೇಗೆ ಕಾರ್ಯನಿರ್ವಹಿಸುತ್ತಿವೆ ಮತ್ತು ಉತ್ತಮ ನಗರ ಆಡಳಿತಕ್ಕಾಗಿ ಅವುಗಳನ್ನು ಹೇಗೆ ಮರುರೂಪಿಸಬೇಕಾಗಿದೆ ಎಂಬುದರ ಕುರಿತು ಪವನ್ ಶ್ರೀನಾಥ್ ಅವರೊಂದಿಗೆ ನಗರ ಆಡಳಿತ ಸಂಶೋಧಕ ಡಾ ಸುಧೀರ ಎಚ್ಎಸ್ ಮಾತನಾಡುತ್ತಾರೆ. Urban Governance researcher Dr Sudhira HS talks to host Pavan Srinath about how various government agencies like Karnataka's KPTCL, BESCOM and Bengaluru's BWSSB, BMTC and BDA have evolved – how they are functioning and how they need to be reimagined for good urban governance. He unpacks the plethora of PSUs, Parastatal agencies, SPVs and Boards that have taken over significant aspects of local government.*Update!* Thale-Harate now has its own YouTube channel! Featuring full episodes and more soon! Head over to youtube.com/haratepod, subscribe and hit the bell icon!ಬೆಂಗಳೂರಿನಂತಹ ಮಹಾನಗರವು ಹಲವಾರು ಸರ್ಕಾರಿ ಸಂಬಂಧಿತ ಸಂಸ್ಥೆಗಳನ್ನು ಹೊಂದಿದೆ, ಅದು ಅಗತ್ಯ ಸೇವೆಗಳನ್ನು ಅಥವಾ ನಿವಾಸಿಗಳ ದೈನಂದಿನ ಜೀವನಕ್ಕೆ ಮುಖ್ಯವಾದ ಆಡಳಿತವನ್ನು ಮಾಡುತ್ತದೆ. ಕೆಲವನ್ನು ಹೆಸರಿಸೋದಾದ್ರೆ, ಬೆಂಗಳೂರಿನಲ್ಲಿ ಬಿ.ಡಬ್ಲ್ಯೂ.ಎಸ್.ಎಸ್.ಬಿ ಪೈಪ್ಲೈನ್ ನೀರು ಸರಬರಾಜು ಮತ್ತು ಒಳಚರಂಡಿಯನ್ನು ನಿರ್ವಹಿಸುತ್ತದೆ, ಬೆಸ್ಕಾಂ ವಿದ್ಯುತ್ ಸಂಭಂದಿತ ಕೆಲಸಗಳನ್ನ ನೋಡಿಕೊಳ್ಳುತ್ತೆ, ಬಿ.ಎಂ.ಟಿ.ಸಿ ಸಾರ್ವಜನಿಕ ಬಸ್ಗಳನ್ನು ನಿರ್ವಹಿಸುತ್ತದೆ, ಬಿ.ಎಂ.ಆರ್.ಸಿ.ಎಲ್ ನಗರ ಮೆಟ್ರೋ ರೈಲನ್ನು ನಿರ್ವಹಿಸುತ್ತದೆ. ಅದೇ ರೀತಿ, ರಾಜ್ಯದಾದ್ಯಂತ ಮೂಲಸೌಕರ್ಯ ಯೋಜನೆಗಳನ್ನು ಕಾರ್ಯಗತಗೊಳಿಸುವ ಅನೇಕ ಸಂಸ್ಥೆಗಳಿವೆ. ಬಹುತೇಕ ಎಲ್ಲವೂ ಸ್ಥಳೀಯವಾಗಿ ಚುನಾಯಿತ ಸರ್ಕಾರಗಳಿಂದ ಅಂತರ ಕಾಯ್ದುಕೊಂಡಿದ್ದಾರೆ ಮತ್ತು ಸಾರ್ವಜನಿಕ ಉದ್ದೇಶಗಳನ್ನು ಉತ್ತಮವಾಗಿ ನಿರ್ವಹಿಸುವಲ್ಲಿ ವಿಫಲರಾಗಿದ್ದಾರೆ.ಈ ಸಾರ್ವಜನಿಕ ಏಜೆನ್ಸಿಗಳ ಅವ್ಯವಸ್ಥೆಗಳ ಕುರಿತು ವಿವರಿಸಲು ಸುಧೀರ ಎಚ್ಎಸ್ ರವರು ತಲೆ-ಹರಟೆ ಕನ್ನಡ ಪಾಡ್ಕಾಸ್ಟ್ನ 144 ನೇ ಸಂಚಿಕೆಯಲ್ಲಿ ನಮ್ಮ ಜೊತೆ ಸೇರಿಕೊಂಡಿದ್ದಾರೆ. ಅವರು ಕರ್ನಾಟಕದಲ್ಲಿ ವಿದ್ಯುತ್ ಸಂಸ್ಥೆಗಳ ವಿಕಸದ ಕುರಿತು ಮಾತನಾಡುತ್ತಾರೆ ಜೊತೆಗೆ ಸರ್ಕಾರಿ ಸಂಸ್ಥೆಗಳು ವಾಸ್ತವದಲ್ಲಿ ಹೇಗೆ ಕಾರ್ಯನಿರ್ವಹಿಸುತ್ತವೆ ಹಾಗೆಯೇ ಎಲ್ಲಿ ಮತ್ತು ಹೇಗೆ ವಿಫಲಗೊಳ್ಳುತ್ತವೆ ಎಂಬುವುದನ್ನೂ ವಿವರಿಸುತ್ತಾರೆ. ಅವರು ಕಾರ್ಪೊರೇಟೀಕರಣದ ಮಿತಿಗಳನ್ನು ಮತ್ತು ಆಡಳಿತದಲ್ಲಿ ಅದರ ಪಾತ್ರದ ಕುರಿತು ವಿವರಿಸುತ್ತಾ ಮಾರುಕಟ್ಟೆ ಕಾರ್ಯವಿಧಾನಗಳು ಎಲ್ಲಿ ಉತ್ತಮವಾಗಿ ಅನ್ವಯಿಸಬಹುದು ಮತ್ತು ಎಲ್ಲಿ ವಿಫಲವಾಗಬಹುದು ಎಂದು ಮಾತನಾಡಿದ್ದಾರೆ.ಡಾ ಸುಧೀರ ಎಚ್ಎಸ್ ಅವರು ಗುಬ್ಬಿ ಲ್ಯಾಬ್ಸ್ನ ನಿರ್ದೇಶಕರಾಗಿದ್ದಾರೆ, ಇದು ಕರ್ನಾಟಕದ ತುಮಕೂರು ಬಳಿಯ ಗುಬ್ಬಿ ಮೂಲದ ಸಂಶೋಧನಾ ಸಂಸ್ಥೆಯಾಗಿದೆ. ಗುಬ್ಬಿ ಲ್ಯಾಬ್ಸ್ ಮ್ಯಾಪಿಂಗ್, ನಗರ ಯೋಜನೆ, ಪರಿಸರ ಸಂರಕ್ಷಣೆ ಮತ್ತು ಇನ್ನೂ ಹೆಚ್ಚಿನ ವಿಷಯಗಳ ಕುರಿತು ಸಂಶೋಧನೆ, ಕಾರ್ಯಾಗಾರಗಳು ಮತ್ತು ಸಮಾಲೋಚನೆಗಳನ್ನು ನಡೆಸುತ್ತದೆ. ಸುಧೀರಾ ಅವರು ಬೆಂಗಳೂರಿನ ಇಂಡಿಯನ್ ಇನ್ಸ್ಟಿಟ್ಯೂಟ್ ಆಫ್ ಸೈನ್ಸ್ನಿಂದ ಪಿಎಚ್ಡಿ ಪದವೀಧರರಾಗಿದ್ದು, ಜಿಯೋಸ್ಪೇಷಿಯಲ್ ವಿಶ್ಲೇಷಣೆ, ನಗರ ಬೆಳವಣಿಗೆ ಮತ್ತು ಆಡಳಿತ, ಹಾಗೆಯೇ ವಿಜ್ಞಾನ ಸಂವಹನ ಮತ್ತು ಸಾರ್ವಜನಿಕ ಶಿಕ್ಷಣ ಕ್ಷೇತ್ರದಲ್ಲಿ ಕೆಲಸ ಮಾಡುತ್ತಿದ್ದಾರೆ. ಬನ್ನಿ ಕೇಳಿ!ಜಿಐಎಸ್, ಜಿಪಿಎಸ್ ಮತ್ತು ರಿಮೋಟ್ ಸೆನ್ಸಿಂಗ್ ತಂತ್ರಜ್ಞಾನವು ಹೇಗೆ ಕಾರ್ಯನಿರ್ವಹಿಸುತ್ತದೆ ಮತ್ತು ರಾಷ್ಟ್ರದ ಅಭಿವೃದ್ಧಿಗೆ ಹೇಗೆ ಸಹಾಯ ಮಾಡುತ್ತದೆ ಎಂಬುದನ್ನು ವಿವರಿಸಲು ಸುಧೀರ ಅವರು ಈ ಹಿಂದೆ 2019 ರಲ್ಲಿ ತಲೆ-ಹರಟೆ ಸಂಚಿಕೆ 35 ರಲ್ಲಿ ಭಾಗವಹಿಸಿದ್ದರು.A Metropolis like Bengaluru has numerous government-related agencies that deliver essential services or governance that matters to the everyday lives of residents. In Bengaluru, BWSSB manages piped water supply and sewerage, BESCOM distributes electricity, BMTC runs public buses, BMRCL runs the city metro rail, just to name a few. Similarly, there are many agencies that execute infrastructure projects across the state. Almost all of them are divorced from locally elected governments, and often fail to deliver well on public objectives. Sudhira HS returns to Episode 144 of the Thale-Harate Kannada Podcast to explain the byzantine nature of these public agencies. He shares the evolution of electricity institutions in Karnataka, shares how governmental agencies work in reality, and explains where and how they fail. He explores the limits of corporatisation and its role in governance, and where market mechanisms can apply well and where they can fail and create monopolies.Dr Sudhira HS (Google Scholar Profile) is Director of Gubbi Labs (Twitter, Facebook, Instagram), a research collective based out of Gubbi, near Tumkur, in Karnataka. Gubbi Labs conducts research, workshops and consulting on a host of issues ranging from mapping, urban planning, environmental conservation and more. Sudhira has a PhD from the Indian Institute of Science in Bengaluru, and works on geospatial analysis, urban growth and governance, as well as science communication and public education.Sudhira was previously on Episode 35 of Thale-Harate in 2019, to explain how GIS, GPS and Remote sensing technology works and can help in a nation's development. More Bengaluru-related Episodes:- A Manifesto for Bengaluru Elections | BBMP ಚುನಾವಣಾ ಪ್ರಣಾಳಿಕೆ ft. Kathyayini Chamaraj- ಬೆಂಗಳೂರಿಗೊಂದು ಬಜೆಟ್. A Budget for Bengaluru? (2021) with Surya and Pavan.- ಬೆಂಗಳೂರಿಗೆ ನೀರಿದೆಯೇ? Water and Bengaluru with S Vishwanath.- ಬೆಂಗಳೂರಿನ ಪ್ಲ್ಯಾನಿಂಗ್ ಸಾಧ್ಯವಾ? Bengaluru's City Planning with Dr Anjali Karol Mohan.More Governance-related Episodes:- ಸಾರ್ವಜನಿಕ ಎಂದರೆ ಯಾರು? The Public in Public Policy with Dr Ashwin Mahesh.- ವೃದ್ಧಿ-ವಿತ್ತ-ವೃತ್ತಿ. A Vision for India's Development with Dr R Balasubramaniam.- ಗಣರಾಜ್ಯ ಚಿಂತನೆಗಳು. Reflections on the Republic with Alok Prasanna Kumar.- ಗ್ರಾಮಗಳು ಪ್ರಜಾಪ್ರಭುತ್ವದ ಯಶಸ್ಸು. Gram Sabhas & Democracy with Dr Vijayendra Rao.- ಕುಶಲ ಭಾರತ. Skilling & New Education Policy with Dr KP Krishnan.- ತ್ಯಾಜ್ಯ ನೀರಿನ ಗಮನ. Managing Waste Water in India with S Vishwanath.ಫಾಲೋ ಮಾಡಿ. Follow the Thalé-Haraté Kannada Podcast @haratepod. Facebook: https://facebook.com/HaratePod/ , Twitter: https://twitter.com/HaratePod/ , Instagram: https://instagram.com/haratepod/ and YouTube: https://youtube.com/HaratePod .ಈಮೇಲ್ ಕಳಿಸಿ, send us an email at haratepod@gmail.com or send a tweet and tell us what you think of the show!You can listen to this show and other awesome shows on the new and improved IVM Podcast App on Android: https://ivm.today/android or iOS: https://ivm.today/ios and check out our website at https://ivmpodcasts.com/ .You can also listen to the podcast on Apple Podcasts, Spotify, Google Podcasts, Gaana, Amazon Music Podcasts, JioSaavn, Castbox, or any other podcast app. We also have some video episodes up on YouTube! ಬನ್ನಿ ಕೇಳಿ!
Ten percent of vacancies in central government jobs in Group C and 20 per cent in Group D are reserved for ex-servicemen. For public sector banks, central public sector units and CAPFs, the reservation is 14.5 per cent in Group C and 24.5 per cent in Group D. But, Directorate General Resettlement data shows that states, central public sector units, and Central Armed Police Forces have failed to recruit against the vacancies reserved for ex-servicemen. Only 2.4 per cent of veterans who applied for a job could get one because of that. As of June last year, ex-servicemen constituted only 1.15 per cent of the Group C strength and 0.3 per cent of the Group D strength in 94 of the 170 CPSUs. Between 32 central ministries, only 1.60 per cent of the 22,168 positions reserved for veterans have been filled. The Indian Railways could only fill 1.4 percent of the positions reserved for retired armed forces personnel. A spokesperson for the Indian Railways has said that recruitment for around 24,242 vacancies of ex-servicemen was currently underway. For the ten defence PSUs, where the Centre has announced a 10 per cent reservation for the Agnipath scheme, veterans comprised only 3.45 per cent and 2.71 per cent of Group C and Group D posts, respectively. As of June 2021, only 0.62 percent of positions reserved for veterans have been filled by paramilitary forces, which are made up of the BSF, CRPF, ITBP, SSB, and CISF. Meanwhile, the central government has announced that 10 percent of vacancies in the CAPFs would be reserved for Agniveer. This graphic should reveal itself category by category, like Central Public Sector Units first, and then in order. It should be matched to the script above in VO3, where CPSUs come first, followed by central ministries and then paramilitary forces, in that order. By the end of 2020, Bihar, UP, Punjab and Haryana, which cumulatively account for 80 per cent of the Indian armed forces, had given jobs to only 1.5 percent out of the 200,000 veterans who had registered for a job. Officials of state Sainik Boards say that while most states have reservations under the ex-servicemen quota for all positions, they are reluctant to recognise the graduation certificate issued by the military. Under the Agnipath Pravesh Yojana, young candidates will be recruited for four-year tenures of service in the military. As many as 46,000 Agniveers are to be recruited this year. From each batch of Agniveer, the government will retain the best. Up to 25 per cent of each year's intake will be chosen to remain in service. While the government has announced reservations across sectors for the Agniveers, the hiring trend of ex-servicemen in government sectors does not paint an optimistic picture. The morale of those who secure our borders is just as important as the weapons we arm them with. The government should consider the following question -- if the Agniveer find themselves worrying about an uncertain future, will that bode well for the country?
India Policy Watch: The Road Of FireInsights on burning policy issues in India- RSJThe Union Defence Minister along with the chiefs of the three armed services on Tuesday announced the ‘Agnipath’ scheme for recruitment into the Indian military. You can read more about the scheme here. I have summarised the key features below:The soldiers under this scheme (referred to as ‘Agniveers’) will be enrolled for a duration of four years in a conscription or tour of duty (ToD) like model that’s prevalent in other countries. They will be paid between INR 30,000 - 40,000 per month during their tenure apart from risk or hardship allowance as applicable. 30 per cent of their salary will be deducted as a voluntary contribution into a corpus called ‘SevaNidhi’ with a matching contribution from the government. Roughly put, the soldiers will get this SevaNidhi package of about INR 11.7 Lacs plus the interest accumulated on this amount at the end of their four years of service. Few other post-retirement benefits are thrown in, including a life insurance cover and access to a bank loan of INR 18.2 Lacs against the SevaNidhi package.About 25 per cent of Agniveers will be absorbed into the regular cadre after four years. The rest will receive an Agniveer Skill certificate, the SevaNidhi corpus and some preferential treatment in getting into the Central Armed Police Force (CAPF) and maybe even state police forces. The Agniveers who leave at the end of four years, however, will not get the usual entitlements of gratuity and pension. This is huge. Over a period of couple of decades, this could mean only about 25 per cent of the forces will have the pension benefits that are available to all today. The enrollment under this scheme will be on an all-India and an all-class basis. This will be, by itself, a distinct rank in the armed forces with its own insignia. The likely implications of this are quite significant. The recruitment of soldiers today, especially in the army, is based on state-wise quotas and on the retirement of soldiers from various regiments that are class based. Class here should be read as an euphemism for caste or community. Drawing Agniveers on an all-class basis will mean withering away from the traditional structure of regiments. It could also mean a larger representation of states where unemployment rates are high because there might not be state-wise quotas anymore. This could further alter the composition mix of the armed forces.The government also positioned this as a move that will infuse youth and vitality (or ‘josh’ and ‘jazba’ as mentioned in various media reports) into the armed forces. The whole thing including the names Agnipath and Agniveer sounds like a campaign for an early 1990s Nana Patekar film. You could soon shoehorn Agni Pariksha (for the recruitment tests), Krantiveer (best Agniveer cadet), Yugpurush (lifetime achievement award for Agniveers), Angaar, Tiranga, Prahaar and so on. You get the picture. We are in this territory now. Anyway, the average age of the armed forces which is 32 now will come down by about five years. The younger workforce will be more technology-savvy that will be more attuned to the changing nature of modern warfare. Also, the 75 per cent of Agniveers who will go back into civil society will serve as a disciplined and nationalistic labour pool to draw from for organisations. There will be Agniveers in every village and taluk who will improve the moral fibre of our society. We will have no riots, no littering, no traffic violations and no crime. The retired Agniveers will change us. Because they will put the nation first. Always. Like Arnab. Well, that’s the official line anyway. BacklashUnfortunately, the response to the scheme hasn’t been what the government was expecting. There have been protests, arson and general lawlessness by unemployed youth that seems to be spreading across the country at the moment. A large section of retired armed forces officials too have questioned both the scale and speed of a change like this. The issues agitating them have some basis:There have been very few recruitment rallies during the two years of the pandemic. About 60,000 soldiers retire every year and this gap is filled up during the regular recruitment drives. It is safe to assume there's a 1.5 Lac gap that’s opened up since 2020. The expectation among aspirants was this will get filled up in the next year or so. That apart, there are those in the middle of their recruitment process who are unclear about their status now. Roughly put, there could be more than a crore of youngsters under the age of 21 who were waiting for these recruitment drives to restart. What they have now instead is about 46,000 open positions for the current year with a 25 per cent probability of a long-term career in armed services with full benefits. If you work the numbers, it also suggests a reduction in armed forces count by about 1.5 - 2 Lacs (about 10-15 per cent of the workforce) over the next four years. I’m not sure if that’s also a stated intent of this scheme but it will be a collateral result unless the Agniveer recruitment numbers are ramped up significantly in the following years.There is an inherent contradiction in acknowledging a modern military requires advanced warfare systems, technical know-how and expertise that takes years to build and having only 25 percent of personnel working on longer tenure commissions. Will the constant churn come in the way of managing these systems? Will there be institutionalised knowledge management that will be able to handle this scenario? Also, the eventual dismantling of the class-based system that this move seems to portend will need to be thought through. It is fundamental to how the army operates today.The other question is about the prospects of the 75 per cent who will be released every four years. This is a number that will keep rising over a period of time. All the romanticisation of the armed forces and its discipline aside, these will be youngsters without a college degree and with limited technical skills. How useful will they be to the wider world? Not much if you go by the current record of hiring of retired defence personnel. They will have to study further and acquire specific skills to be employable. To expect CAPF or the state police force to absorb them is a bit optimistic. Also, there are aspirants for those jobs too with their own patronage system who will scuttle these moves. Lastly, for all the josh and jazba that are likely to come free because of this move, it will be useful to understand the repercussions of having a workforce that knows only one in four among them will qualify for the longer commission. What behaviour will this engender in them? How objective will the criteria for selection be? And if the 75 per cent who are released struggle to get jobs and earn their livelihoods, the feedback loop to the future cohorts will be immediate. The situation will turn more fraught at the end of every four-year cycle. The comparison with other countries that have a ToD model is useful but it is important to appreciate we are a US$ 2000 per capita economy with over 40 per cent of the employable labour pool either without a job or underemployed. In other countries, those who want to continue to be in the armed forces almost self-select themselves. These arguments, for and against aside, this is a good example to understand the complexities of policymaking, especially in defence, in India. A Difficult ProblemLet’s begin with the single most important policy objective for armed forces now in India. This is quite stark and apparent - it needs to modernise its defence infrastructure and increase its capacity in areas of modern warfare like the air force and navy. Given the threat perception on its borders, this is an already delayed exercise. You can read a detailed ORF report on India’s platform modernisation deficit here for more. TL;DR: yes, we do have a modernisation challenge on hand. And it is quite bad.Now the key question is what’s coming in the way of modernisation? There are multiple answers to this but on the top of that list is a lack of funds. The defence budget has broadly remained around 2.2 per cent of the GDP over the last decade. India has struggled to contain its fiscal deficit and it has limited ability to allocate more to its defence budget. As we have written on umpteen occasions, the Indian state is spread wide and thin. It does way too many things badly. Therefore, it cannot find money to do things it must. More importantly, pension benefits (24 per cent) and wages (28 per cent) take up over half of its budget. These numbers, especially pension outlays, will continue to grow in the coming years as the full impact of OROP (one rank one pension) plays out. The OROP that came into effect in late 2015 is a known and acknowledged policy mistake that is quite simply unsustainable. But it is almost impossible to walk back on that now. So, the search for circumventing that burden is one of the factors that has led to this scheme. A bad policy decision has a long-term downstream impact and this is a classic case of that playing out. Even if the Agnipath scheme is implemented as it stands today, the easing up of the pension burden will take decades to play out. The need for modernisation of the armed forces is as of yesterday. But the government is hoping through a combination of a 10-15 per cent reduction in the strength of the military and a long-term solution to control the burgeoning pension bill would have given it some room to ramp up on modernisation without increasing defence outlay. There are various estimates of the net present value of the expenditure on a single soldier who joins the armed forces today. At fairly conservative estimates of discount rates, wages and future pension benefits, Pranay estimates this to be about INR 1 crore. In my view, that is the absolute floor for that value and it might be around INR 2 crores if one were to take a bit more realistic assumptions. So, a 1.5 - 2 Lac workforce reduction could mean a significant availability of funds to modernise the defence platforms over time. Growth, Growth, GrowthThat’s likely the thinking that’s gone behind the scheme. Everything else including the messaging on josh and jazba or having retired Agniveers in every village is to make it palatable to the public. It is difficult to acknowledge openly to people that the economy cannot support the defence requirements of India when you have made nationalism and nation-first important planks of your political strategy. This communication plan could have worked except it had to contend with the other real problem of the Indian economy at the moment. Lack of jobs. For reasons that could take up another post, the Indian economy isn’t generating enough jobs for its large youthful population. Roughly, India needs to create between 15-20 million non-farm jobs every year to keep pace with those entering the labour force. The labour participation rate has remained in the 40-45 per cent range for a long time. New job creation data can be contentious but it is difficult to argue that India is creating anything more than 3-4 million jobs every year. The quality of many of these new jobs isn’t great. The merry-go-round of employees switching jobs and getting big hikes in the IT/ITES sector shouldn’t blind us to the reality in the broader economy. There aren’t enough jobs. The two prerequisites for job creation, an 8-9 per cent GDP growth and skew towards sectors like construction, infrastructure or labour-intensive exports aren’t being met. The reason the job crisis hasn’t snowballed into a larger political and social issue is the immense faith in the PM among the youth. There’s a strong belief among them that India is on its way to becoming a superpower. The regular dose of nationalism and jingoism that’s amplified by the media helps continue this narrative. A related issue here that accounts for the violent protests is the lure of government jobs. The public sector jobs at the junior levels have become more remunerative than similar roles in the private sector in the last decade. As much as people love quoting the salaries of the CMDs of PSU Banks or the senior IAS officers and comparing them to the compensation of private-sector CEOs, the reality is that at mid to junior levels the government jobs are better paying. You can dig deeper into the wage bills of listed PSUs and compare them with their private counterparts for evidence. The other supposed benefits of a government job like job security, work-life balance and a possibility of rent-seeking (though low in defence jobs) make the package very attractive. This has meant a dramatic reversion in trend of people hankering for public sector jobs that had waned in the first couple of decades of liberalisation. So, a reduction in the number of such jobs or cutting down their benefits as the Agnipath scheme is likely to be isn't going to be accepted despite the great popularity of the PM and the ruling party among this segment. Their expectation, in contrast, is for the number of government jobs to go up.Considering the constraints, it is difficult to see what else the government could have done here. The need to reduce wage and pension costs to fund modernisation is real. And given the fiscally conservative instinct of this government, it won’t deficit fund the modernisation programme. As is its wont, it has chosen to put a bold announcement with emphasis on other benefits while trying to solve its key problems under cover. There’s this myth that a big bang approach to reform is the only model that works in India. That’s wrong. A lot of what has looked like big reforms in India have actually had a long runway that’s often invisible to people. A more comprehensive reading of the history of ‘91 reforms makes this clear. So, the usual template has been followed so far: minimal consultation, no plans to test it out at a smaller scale and instant big bang implementation. The results are unsurprising. I am guessing we will see a similar script play out for the next few months. There will be rollbacks (a few have been already announced), some concessions that will tinker around years of service or percentage releases, and a few sops thrown in, to temper the anger. If I were to give more credit than is due to this government’s planning chops, I might even say it possibly did this on purpose. Release a more extreme form of scheme, brace for impact and then roll back to the position that you always wanted in the first place. It is one way to game public opinion to your favoured outcome. Of course, a more impactful solution to this is to acknowledge the mistake that OROP is and shift the pension of defence forces onto a voluntary, defined contribution scheme like the NPS which has been implemented since 2004 for all new recruits joining government services, except defence. That is the only sustainable solution to this problem. But dispassionate policy making in defence sector in India is difficult. All kinds of emotions about izzat, vardi, naam and nishaan get mixed up. Nana Patekar gets in the way of clear-headed thinking. * (with apologies and acknowledgement to Harivansh Rai ‘Bachchan’)Addendum— Pranay KotasthaneFor a researcher working on the public finance of defence, the Agnipath scheme is an important milestone. Over the long term, it has the potential to substantially reduce the pension burden. And as RSJ writes, the scheme will have no impact on the allocations for modernisation in the short term. Nevertheless, this scheme is important for the single reason that just as today’s deficits are tomorrow’s taxes, today’s reforms become tomorrow’s savings. Many commentators suggest that India’s defence expenditure problem can be solved merely by increasing defence expenditure to 3 per cent of GDP, from the current allocation of 2.04 per cent. That’s hardly the case. Projecting current growth rates of defence spending components over the next ten years suggests that even if the government were to agree to a 3 per cent spending, pension spending will grow rapidly enough to allow only an incremental increase in the fiscal space for capital outlay.Keeping the public finance angle aside, I took away two lessons in politics.One, the political narrative that can be used to sell a policy solution sometimes matters more than the solution itself.In an article for the Times of India in March, I listed four alternatives before the government to manage personnel costs. The three solutions that were dropped tried to address the pension problem directly. It wasn’t possible to project these solutions as achieving any other objective. In contrast, the solution that was picked up, i.e. Agnipath, was the only one that allowed the government to skirt the fiscal motivations for this reform. The government went in with this stated objective: “attracting young talent from the society who are more in tune with contemporary technological trends and plough back skilled, disciplined and motivated manpower into the society.” No mention of the fiscal angle. At all.This strategy itself had mixed results in the early days. Politically, it allowed the government to make statements such as these: “We never see the Armed Forces through the perspectives of savings. Whatever we need to spend, the government is willing to spend. Our aim is to defend the country’s borders. Whatever needs to be spent, will be spent.” — Mr Rajnath Singh, Union Defence MinisterHowever, not acknowledging the real reason why these reforms were mooted, created an impression that the government has needlessly and suddenly foisted another disruptive scheme on unsuspecting masses.Two, the government failed to align cognitive maps of important stakeholders, yet again. Pension reforms are wicked problems everywhere in the world because there are strong endowment effects of a large, organised collective at play. Some of you might recall that a couple of years ago, nearly 800,000 French people protested and disrupted key services across the country in opposition to the proposed pension reform. That reform merely aimed to consolidate 42 different pension schemes, with variations in retirement age and benefits, into a universal points-based system. Even so, the government had an excellent, indigenous pension reform example at hand. As we’ve written many times before, the civil services pension reform of 2004 was a rare example of introducing a scheme to reduce the pension burden without protests. Despite this example, the government chose to opt for an Agnipath scheme that made some applicants suddenly ineligible for selection. The resulting protests and violence eventually made the government relax the age criteria this time. The government mandarins would surely have anticipated these consequences. To smoothen the transition, the government could’ve done regular recruitment along with the Agnipath recruitment this year. Over the subsequent three-four years, it could have increased the intake for the latter and tapered down the intake in the regular induction in a phase-wise manner. But it chose a sledgehammer instead of a scalpel. Global Policy Watch: Social Media’s Rule of Three Global policy issues relevant to India— Pranay KotasthaneSocial media continues to confound us all. By now, we all have read a number of hypotheses on how social media rewards “evil”. In the initial days, social media’s tendency to push us into echo chambers was oft-cited as the mechanism that made people more extreme in their views. Then came the view that the evil lay in the “likes”, “retweets”, and “share” features, which promoted an asymmetric virality. Thereafter came the notion that it was the economic models that were to blame. Advertisement-led services and Big Tech monopolies were the real problems, we were told. And over the last four years or so, it’s the algorithms and recommendation engines of social media companies that have been the target. Despite these arguments, we still don’t have a conclusive answer. Several studies have refuted many of the assertions made above. And so, let’s take a step back from specific social media apps, and instead ask: what are the meta-mechanisms that make all forms of social media a powerful instrument? I can think of three interrelated mechanisms. All three mechanisms are connected to sociological and cognitive behaviours in the Information Age.One, Social Media expands our Reference NetworksReference Networks is a term used by psychologists to mean “people whose beliefs and behaviour matter for our behaviour”. A really small part of our behaviour is independent of others’ actions and beliefs. Most of our behaviour is interdependent, i.e. it depends on what people in our reference network say or do. For most of human history, geographic proximity largely determined our reference network. For instance, our on-road driving behaviour is shaped by people who are around us and whom we consider ‘like us’. TV, radio, books, and newspapers have played a major role in creating new horizontal comradeship (or what Benedict Anderson called ‘imagined communities’), but these media did not supplant the importance of geographically proximate reference networks. Social media, by contrast, expands our reference networks like never before. People across the world can now influence our perceptions instantly and repeatedly. And by this reference network expansion, I do not imply the ‘echo chambers’ trope. Courtesy of social media, our reference network in fact now includes many more people who think unlike us. Sociologist Zeynep Tufecki explains this mechanism using a beautiful metaphor:“While algorithms will often feed people some of what they already want to hear, research shows that we probably encounter a wider variety of opinions online than we do offline, or than we did before the advent of digital tools.Rather, the problem is that when we encounter opposing views in the age and context of social media, it’s not like reading them in a newspaper while sitting alone. It’s like hearing them from the opposing team while sitting with our fellow fans in a football stadium. Online, we’re connected with our communities, and we seek approval from our like-minded peers. We bond with our team by yelling at the fans of the other one. In sociology terms, we strengthen our feeling of “in-group” belonging by increasing our distance from and tension with the “out-group”—us versus them. Our cognitive universe isn’t an echo chamber, but our social one is. This is why the various projects for fact-checking claims in the news, while valuable, don’t convince people. Belonging is stronger than facts.” [MIT Technology Review, August 2018]Expressed another way, every issue becomes global by default because our reference networks are also global. Two, Social Media expands the Overton WindowRepeating what I had written about this particular mechanism in edition #130. The Overton Window framework suggests that for any political issue, there's a range of socially acceptable positions that's narrower than the range of all possible positions. These socially acceptable ideas are seen as being inside the Overton Window — they are mainstream and uncontroversial. On the other hand, policy positions outside it are viewed as shocking, upsetting, and electorally harmful. The key insight of this framework is that, with social pressure, the Overton Window can shift over time; today's radicals may become tomorrow's moderates. In the Information Age, something even more striking has happened. The Overton Window on practically every issue has been stretched such that nearly all possible positions on an issue have become socially acceptable. With that happening, the older institutions, which earlier exuded authority, are shredding legitimacy with every decision they make.With the old gatekeepers no longer wielding the same power as earlier, the range of opinions on any issue can be extremely broad. And combined with the fact that each of those views attracts a new reference network, the Overton Window of social acceptability gets stretched.Three, Disproportional Rewards for Extreme ContentMany analysts say that this mechanism is a result of skewed algorithms and the incentives arising out of an advertisement-based model. While that’s partly true, there’s a deeper reason: information overload. Persuasion is a key power in the information age. Persuading someone requires attracting someone’s attention. And since attention is a scarce commodity in a crowded information environment, the only way to attract it is to come up with something surprising and shocking. Consider this analogous example. If I were to write “Lng Yrs g, W Md Tryst WTh Dstny”, you would immediately identify that I’m talking about Nehru’s iconic 1947 speech, despite me dropping all vowels. From an information theory perspective, vowels carry “less” information content because they occur more frequently. In contrast, consonants contain “more” information because the probability of their occurrence is low.In a similar manner, a news feed post which reads “There was a bomb blast in Kabul”, carries less information, because this has quite unfortunately become a regular occurrence over the last few years. In contrast, a shocking opinion or news like “Russian information ops influenced the 2016 election results” surprises us, and hence carries more information. Over time, not only does the Overton Window expand, it becomes broader at the two poles. My proposition is that many real-life events attributed to social media (positive or negative) can be explained by a combination of these three mechanisms. Consider the work done by an online group DRASTIC (Decentralized Radical Autonomous Search Team Investigating COVID-19) in mid-2021. Their work alone changed the conversation on the Wuhan lab origin theory (RSJ wrote about it here). In this case, the expanded reference network allowed a band of interested folks to build on each other’s work. The Overton Window expansion meant that the group could put forward an idea that seemed preposterous at that time. And a skew towards surprises meant that their idea didn’t just die away in a closed in-group, but instead sailed across the globe.HomeWorkReading and listening recommendations on public policy matters[Article] Janan Ganesh has a cracking column in FT, which discusses a favourite topic of ours: economic growth. Sample these lines from the column: “The looming recession will be painful. But it will also drive a certain kind of post-materialist humbug from polite discourse. Growth will be harder to dismiss as a bean counter’s tawdry obsession when there is so little of the stuff to go round.”[Article] Zeynep Tufekci’s analysis of “how social media took us from Tahrir Square to Donald Trump”.[Post] Gurwinder from The Prism has this terrific insight: ideologies are memetic superbugs. His words: “The most successful ideology in the West today, wokeism, has succeeded because it’s perfectly configured, not to establish social justice, but to establish more copies of itself. It’s a memetic superbug evolved for contagion rather than truth or compassion, and if contaminating others requires it to delude the senses, twist the truth, and darken the heart, then so be it.”[Tweet] The always-insightful Bryan Caplan’s take on intersecting echo chambers lights a bulb. He says: “If you want to combat error, critique your in-group. You speak their language and they trust you, so you might persuade someone. If you want to raise your status, critique your out-group. They won't listen, but your in-group will love it.” The latter tendency dominates the former by a big margin, I guess. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
The Sensex and Nifty benchmarks have corrected 13% and 15%, respectively, from their all-time highs of 2021. Some select sectors that have borne the maximum brunt of this correction are IT, banks, metals and realty. Even though it appeared that the worst was behind as Covid-19 risks subside, the geo-political crisis has sprung up new challenges that continue to drive investors away from these sectors. The BSE IT, Bankex, Metals and Realty indices have entered the bear zone after two years since 2020, cracking 20-30 per cent so far from their record highs that were hit between October 2021 and January this year. Elevated commodity prices, an accelerated rise in interest rates, and the onset of liquidity tightening have weighed significantly on these sectors, leading to their sharp underperformance. The metal industry, for instance, has been marred by high costs as prices of key inputs touched record highs this year on supply disruptions. Even though, the prices of ferrous and non-ferrous metals have begun softening on demand concerns, the outlook for the sector remains weak, analysts say. According to Edelweiss Securities “Weak demand due to the lockdowns in China is now starting to weigh on prices. Hence, we believe that despite supply shock, demand could soften materially, both hurting metal prices and demand” JP Morgan, meanwhile, has downgraded the Indian IT sector to underweight cutting target multiples by 10-20% across the pack. Edelweiss Securities remains underweight on the real-estate sector that has long benefitted from high demand spurred by low-rates. However, it believes that rising rates, along with slowing growth could now weigh on investor returns. Despite the sharp In the financial space, experts say that growth in pre-provision operating profits would shape returns in the sector from now on instead of reduction in credit costs. Hence, analysts at Edelweiss Securities prefer private banks over PSUs, as it believes these players tend to score well on the pre-provision profitability front in a liquidity tightening scenario. On the other hand, they add, rising interest rates will likely be challenging for NBFCs especially, as cost of funds will see an increase. Against this backdrop, Business Standard's Avdhut Bagkar finds out what technical charts indicate for these underperforming sectors: According to Avdhut Bagkar of Business Standard,Nifty Bank well protected by 100-WMA. Though Nifty metal and IT remain a risky play, Bagkar says Nifty metal needs to cross 200-DMA. Nifty IT index has support of 100-WMA, he says. Market action will be stock specific today as the Q4 corporate earnings season enters its last leg. BHEL, Zomato, JK Cement, PowerGrid, Shree Cement, Divis Lab, Birla Soft, Ramco Cements and SAIL are among those companies that will be on investors' radar. Besides, crucial events lined up for this week include Delivery's likely market debut on Tuesday, and the monthly F&O expiry on Thursday.
The Sensex and Nifty benchmarks have corrected 13% and 15%, respectively, from their all-time highs of 2021. Some select sectors that have borne the maximum brunt of this correction are IT, banks, metals and realty. Even though it appeared that the worst was behind as Covid-19 risks subside, the geo-political crisis has sprung up new challenges that continue to drive investors away from these sectors. The BSE IT, Bankex, Metals and Realty indices have entered the bear zone after two years since 2020, cracking 20-30 per cent so far from their record highs that were hit between October 2021 and January this year. Elevated commodity prices, an accelerated rise in interest rates, and the onset of liquidity tightening have weighed significantly on these sectors, leading to their sharp underperformance. The metal industry, for instance, has been marred by high costs as prices of key inputs touched record highs this year on supply disruptions. Even though, the prices of ferrous and non-ferrous metals have begun softening on demand concerns, the outlook for the sector remains weak, analysts say. According to Edelweiss Securities “Weak demand due to the lockdowns in China is now starting to weigh on prices. Hence, we believe that despite supply shock, demand could soften materially, both hurting metal prices and demand” JP Morgan, meanwhile, has downgraded the Indian IT sector to underweight cutting target multiples by 10-20% across the pack. Edelweiss Securities remains underweight on the real-estate sector that has long benefitted from high demand spurred by low-rates. However, it believes that rising rates, along with slowing growth could now weigh on investor returns. Despite the sharp In the financial space, experts say that growth in pre-provision operating profits would shape returns in the sector from now on instead of reduction in credit costs. Hence, analysts at Edelweiss Securities prefer private banks over PSUs, as it believes these players tend to score well on the pre-provision profitability front in a liquidity tightening scenario. On the other hand, they add, rising interest rates will likely be challenging for NBFCs especially, as cost of funds will see an increase. Against this backdrop, Business Standard's Avdhut Bagkar finds out what technical charts indicate for these underperforming sectors: According to Avdhut Bagkar of Business Standard,Nifty Bank well protected by 100-WMA. Though Nifty metal and IT remain a risky play, Bagkar says Nifty metal needs to cross 200-DMA. Nifty IT index has support of 100-WMA, he says. Market action will be stock specific today as the Q4 corporate earnings season enters its last leg. BHEL, Zomato, JK Cement, PowerGrid, Shree Cement, Divis Lab, Birla Soft, Ramco Cements and SAIL are among those companies that will be on investors' radar. Besides, crucial events lined up for this week include Delivery's likely market debut on Tuesday, and the monthly F&O expiry on Thursday.
Q1: The govt has deferred the plan to privatise public sector banks, as the legal amendments have not been made yet. Do you think privatisation of PSBs is an idea whose time has come? Do you think the RBI should relax criterion to allow corporates, especially those with experience in finance business to participate in the privatisation process? Ans: >India needs a larger, stronger, Atmanirbhar financial services sector >It is for the regulators to decide the right way to achieve a strong financial services sector >Good-quality corporate players should be allowed to enter the financial services industry >RBI should build a discussion around what the future of lending looks like Q2: There have been hiccups in the current privatisations of PSUs that have been announced recently, like Central Electronics Ltd and Pawan Hans. Do you think that process should be strengthened and rigorus criteria should be in place to screen bidders for other PSUs as well that have been put on block? Ans: >Need a transparent, clear well-thought-out consistent process for privatisation >The intent of the government is, it should not be in business >There are sensitivities involved. So, some of these things take time Q3: Post FDI hike in insurance, do you think more needs to be to attract foreign capital in the sector? Ans: >Don't have a domestic financial sector that is strong enough to support India's growth opportunity >India can become the manufacturing hub of the world, because of the changing nature of geopolitics >Foreign capital finds the best risk-reward geography over a period of time >Capital must help create a strong domestic financial services industry, led by banking, asset management, insurance and pension Q4: What more financial sector reforms need to be undertaken in India? Ans: >Expand banking to increase financial inclusion >Need to take banking closer to people, and digital tools can make a significant benefit >Need to provide capital to small and medium scale enterprises and explore export opportunities >With the government signing FTAs, we need to ensure capital is easily available to companies >India needs few large banks to strategically help large companies that have built necessary capabilities and are looking to build new capacities overseas >Insurance sector has gathered a large amount of assets, which need to be put to productive use >Move assets from govt securities to fund startups, infrastructure projects and create a viable corporate bond market in India Q5: Mr Bajaj, CII has given a range of GDP estimates for FY23 based on three oil price scenarios. In this scenario of 7.4-8.2 per cent growth rate, do you think growth may be closer to the upper end or lower end? Ans: >If oil price stays around $100 level (per barrel), then I think closer to 8% is what we can look at >Rise in the interest rate and how often it happens will depend on the prevailing inflation >Inflation is partly dependent on fuel prices >Govt should cut taxes on fuel in a collaborative manner between the centre and the states >A normal monsoon is expected this year, which can arrest inflation Q6: What sort of a magnitude of impact of inflation are you seeing India Inc going face on its margin? And: >Impact of inflation on margins will differ from sector to sector >Corporate margins have got compressed partly, in the last two quarters, because of rising input cost >That's why some amount of price rise is passed on to the customers
India Policy Watch: Prediction TimeInsights on burning policy issues in India— RSJHappy New Year! This is a time of hope, optimism and new beginnings. But 2022 has signalled it has no time for such niceties. It is already hitting high notes on all kinds of wrong metrics - peak COVID-19 positivity rates, deeper social polarisation and dangerous levels of toxicity on social media. And it is only the first week. Maybe 2022 intends to get all the bad news out early and then coast on calm waters. That’s the hope. Hope, like Andy Dufresne taught us, is a good thing; maybe the best of things. We write this newsletter because we are hopeful about the future. We believe we can make an impact, however small, on the demand side of the policy equation. That making people aware of policy choices and helping them anticipate the unintended will lead to a change in the supply side of politics. There are two preconditions for this to happen which we have assumed to hold true. One, people have time and mental space available for discussions that matter to their lives. Two, a belief we can arrive at what’s good for us through those debates and discussions. But there are days when you wonder if these hold. The cacophonous noise on issues of identity, validity and nationalism drowns all other conversations. There’s no conceding of ground regardless of the merits of an issue. Any factoid that questions your existing hypothesis isn’t seen as worthy of contemplation. The more perceptive might register a mild dissonance. Instead, you wait for your side to dig out a counter that reconfirms your bias and negates the dissonance. Politics is often considered to be performative for the audience that’s the electorate. Now, the audience has donned the makeup and is declaiming on stage. The possibility of consensus on what’s good is increasingly remote. And once you are in this territory, the public part of public policy goes out of the window. Whatever remains then is no different from a fiat. But then hope is a good thing. And so we begin the new year with hope. Like those last lines from The Great Gatsby:“...tomorrow we will run faster, stretch out our arms farther…And one fine morning- So we beat on, boats against the current, borne back ceaselessly into the past.”Like last year, we start with that timeless lazy way to fill pages during this time of the year. Here is my random list of predictions for 2022.Economy#1: It will be more of the same for India on growth, inflation and fiscal deficit. Factoring in the Covid base effect, we will be in the 5-5.5 per cent growth range (if you take the base of FY 21). Inflation (CPI) will be around 5 per cent with an occasional jump to 6 per cent during the year despite threatening to go out of control. Maybe three interest rate hikes (a total of 75 bps) during the year will keep a lid on it. Public markets will moderate a bit (around 10 percent upside). Private market valuations will continue to be in bubble territory. There’s a lot of liquidity that’s already raised and ready to be deployed for start-ups. China won’t attract it as it will continue to go down the path of self-reliance and its notion of an equal society. So, expect even more than the $36 billion that flowed into startups in 2021. There will be more gushing commentary on the Indian entrepreneurial energy. That will be appropriated to show how well the economy is doing. The money flowing for Indian startups is good news, of course. But it cannot be the only metric to determine the health of the economy. The divergence between the formal and informal economy and the K-shaped recovery that we have written about (“Two Indias”) will continue.#2: There won’t be much to write about reforms. Some attempts at piecemeal MSP reforms will be attempted to make up for the repealed farm laws. The National Monetisation Pipeline will get going but the progress will be modest. A couple of more disinvestment proposals of PSUs (including banks) will be taken up. But this will be for raising revenues rather than a planned strategy to make PSUs market competitive. The LIC IPO will just go over the line and that will be the big event to showcase reforms. All of this doesn't mean we will be short of big announcements about reforms or intention to reform.Politics#1: BJP election machine will continue its winning run barring the odd defeats in Punjab and Goa. The big prize, UP, will be fought hard but BJP will win a safe majority. The bahujan vote of the depleted BSP will shift to it more than to SP and that will make all the difference. By the end of the year, there will be a more formal coming together of regional parties as opposition. Some sort of a “front” will be formalised.#2: There will be a split in the Congress. The party in its current form is untenable and beyond a point, there will be nothing to lose for those who split it. The key question is who will lead it - those who have a political base and think Congress leadership is a liability that cannot be carried along any further, or those without a political base but with strong ideological opposition to the BJP. My guess is it will be the latter. In any case, it won’t make much of a difference.Society #1: Demographic anxiety is now a thing in Indian society. The desire to address it or to be seen to address it will animate much of our social discourse. Expect love jihad and anti-conversion laws in various states, some kind of population control bill, a revival of CAA and a push for a uniform civil code during the year. There’s that early 20th century Europe playbook of stoking demographic anxiety that plays on a threat to the survival of a civilisation or a way of living. The pitch will be queered on this. Indian society is a fertile ground for it. This land can be shown to its people as a palimpsest. But it can, perhaps more easily, be shown as a glorious, ancient civilisation that’s been asphyxiated for centuries by ‘outsiders’. A true revival of it requires setting the past records straight and the right demographic arithmetic. That’s the view and it is open season for this. There will be more performative gestures that will be broadcast as reclaiming of that civilisation. #2: The last week saw the mainstreaming of the ‘trads’ and ‘raitas’ nomenclature. If you don’t know about this sharp distinction that’s emerging within the right-wing, here’s a short introduction to it. We have written in the past Schmitt’s ‘friend-enemy’ distinction in politics. Politics is driven by the idea of having an enemy; the other. For much of the last decade, this was the left-liberal cabal (Lutyens, Khan market, NYT, Soros, Amnesty etc). Even when much of news and propaganda came to be dominated by the right-wing, there was a strawman of this all-powerful cabal of anti-nationals that was kept alive because the notion of an enemy is critical. But once you have decimated it, what do you do? You look for the enemy within. That’s what trads versus raitas is all about. It isn’t a surprise really. This is something I discussed in Amit Varma’s podcast last February. Miscellaneous#1: There will be serious big tech regulations that will come into play in America. Others will follow suit. India will have a version of this along with dollops of atmanirbharta. This will mean some tough days for big consumer tech giants in India.#2: China will struggle for growth. Demographics, debt and delusion have come together in China in a way that will make it difficult for it to sustain growth. China-Russia relationship will get stronger with their support for each other and for other authoritarian regimes around the world. #3: Meta, Crypto, Decentralisation, NFT (and everything else pumped up by the Valley tech bros) will see their hype abate (about 25-30 percent drop in asset value). When John Terry starts buying Bored Ape NFTs, you know the whole thing has jumped the shark. About time too. Global Policy Watch: A Season of Industrial PoliciesBringing an Indian perspective to burning global issues— Pranay KotasthaneOn December 29, the union government issued guidelines for another production-linked incentive (PLI) scheme, this time for textiles. In all, there are thirteen sectors — from electronics to steel — where PLI schemes are under various stages of execution. We had given such schemes the full Anticipating the Unintended treatment in edition #86. In this edition, I want to step back and review the merits and demerits of industrial policies, of which PLI is a specific variant. What’s an Industrial Policy?Scott Lincicome of the Cato Institute has a neat definition. Industrial policies are“targeted and directed government interventions intended to achieve specific, market‐beating industrial and commercial outcomes within national borders. The specificity of these targeted interventions is what makes them different from other kinds of broader, more general interventions.”In contrast, broader pro-market policies that are not sector-specific such as reducing corporate tax rates, reducing import duties, simplifying labour laws and making land acquisition easier are not categorised as industrial policies. Why Should You Care?Industrial policies are all the rage today and not just in India. Industrial policies never went in demand really. The theory of change behind industrial policies is enticingly simple: “to get an uncompetitive business sector of yours to grow, subsidise investment in that sector over the next few years out of taxpayer money.” And as you can imagine, industrial policies are quick-fix solutions that any policymaker would love. So, one or the other industrial policy solution is always cooking in government departments regardless of the sector and the country.The reason why such policies are now getting concurrent attention worldwide is because of one reason: China. With all the talk of reducing dependence on Chinese technology and manufacturing firms, entire sectors are being deemed as “strategic” across countries. And once a sector gets termed as strategic, a “strategic” industrial policy is never far away. And so, the US, EU, India, and China itself, are all launching a spate of new incentive schemes to reshore manufacturing and technology firms. Do Industrial Policies Work?They are popular, alright. But are industrial policies effective? In this section, I’ll review some arguments for and against them. Batting for industrial policy, albeit in the American context, Steven K Vogel declares in a Niskanen Center paper that industrial policy is both imperative and inevitable going ahead. His argument is that all critical goals of the future — reducing carbon emissions, mitigating climate change, and strengthening supply chain resilience — would be unachievable without targeted government support. And that achieving these goals cannot be left to private firms because of three reasons. One, only the government can formulate national missions. Two, the private sector is bound to underinvest in R&D due to positive externalities. And three, only government can resolve coordination or network failures. Batting against industrial policies are people at the Cato Institute (of course). Their paper Industrial Policy: A Bad Idea Is Back is a searing critique of industrial policies due to four reasons that block success.One, centralised attempts to pick winning critical technologies are more likely to fail as the government does not know it all. Even when the government picks up the right industries for support, it often ends up picking up the wrong products and companies.Two, as you can guess, targeted support enables rent-seeking. Companies that get government backing block competition and seek to mould the scheme for their own benefits rather than policy objectives. Costs balloon, performance falters, bailouts get demanded, and political considerations become paramount. Three, industrial policies come at an immense cost to society. Besides the “seen” cost overruns, there are “unseen” opportunity costs, misallocation of resources, and deadweight losses due to higher tariffs. Finally, industrial policies don’t pick winners but it’s winners that pick industrial policies. This means even in sectors where such policies created a few successful companies, “government support mostly went to companies that could have obtained private funding or produced outcomes that the market could have provided (and did previously without government assistance)”.Where Does That Leave Us?From an Indian perspective, I want to amplify two concerns about industrial policies. First, as the previous section suggests, the real problem with industrial policies is in their design and implementation. Vogel argues that one can get industrial policy ‘right’ by doing three things: set clear priorities, deploy the appropriate policy tools; and structure government institutions to limit political capture and maximize policy effectiveness. Each of them requires high state capacity. While the first two can be still resolved as they are not transaction-intensive, a lack of adequate regulatory capacity to prevent companies from gaming the system is a big challenge in India.Second, the opportunity cost argument is especially important for a 2000$ per capita income economy. Given that every rupee of revenue raised by the government costs three rupees to the Indian society, industrial policies are by default expensive instruments. Reflecting on both sides of the argument, my current position is that industrial policies should be deployed very selectively, in sectors that are uber-strategic or where Indian companies enjoy a comparative advantage globally. For example, I would support an industrial policy for building a speciality semiconductor fab in India but I would oppose one that attempts to make display panels in India. Reducing import dependence from China cannot be the driving reason to shower billions of dollars for as many as thirteen sectors. We shouldn’t forget that incentive schemes are finally band-aid solutions. They might create a few national champions but to eliminate the cost disabilities lakhs of Indian companies face, there is no alternative to improving tax, business, intellectual property, and trade regimes. Post Script: Industrial Policies for SemiconductorsThe union government launched four schemes worth a total of $10billion to build a semiconductor and display ecosystem in India. I’ve given these policies the Anticipating the Unintended treatment here and here.To understand the European Union’s perspective on industrial policies in this sector, I spoke with Mathieu Duchâtel in an episode for the All Things Policy Podcast. * from Emily Dickinson’s “Hope” is the thing with feathersHomeWorkReading and listening recommendations on public policy matters[Book] Diana L. Eck’s 2012 masterpiece India - A Sacred Geography challenges the notion that the Indian “nation” was a project born in response to colonial occupation. [Paper] Questioning Industrial Policy: Why Government Manufacturing Plans Are Ineffective and Unnecessary is an insightful read.[Article] Noah Smith on “Six reasons 2021 was a better year than people think” If you find the content here useful, consider taking a deep dive into the world of public policy. Takshashila’s PGP — a 48-week certificate course will allow you to learn public policy analysis from the best practitioners, academics, and teachers. And that too, while you continue to work. In other words, the opportunity costs are low and the benefits are life-changing. Do check out. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
The government sold Air India to the Tata group for Rs 18,000 crore last year. It got just 15% of the total amount while the rest went to the debtors. The Centre had been trying to offload its entire stake in the airline for years. And after the nod of the Cabinet Committee on Economic Affairs, the government is now taking LIC to the primary market to divest some of its stakes. The government says that it just wants to go for an IPO and not for a privatisation. We have also heard our Prime Minister Narendra Modi saying that, “The government has no business being in business”. So the government's intentions on privatisation and disinvestment are very clear. But are these two terms different? Let us start with disinvestment. It means the government or an organisation is liquidating or selling its stake in a company. But it will be less than 50% and the government or the organisation will still be in the saddle, calling the shots. Governments often take this step to reduce their fiscal burden and re-allocate resources into other productive areas within a government-funded project or an organisation. It lowers the government's fiscal burden and provides funds for growth-oriented programmes and development. In 1999, the Indian government set up a separate department of disinvestment, which is today known as the Department of Investment and Public Asset Management or DIPAM. It operates under the Ministry of Finance. The government announces its targets for disinvestment each year during the Union Budget. For the ongoing fiscal year FY22, the government has set a disinvestment target of Rs 1.75 lakh crore. The plan includes privatisation of two public sector banks, public listing of the Life Insurance Corporation of India, Shipping Corporation of India, and many other PSUs. However, the Centre has so far garnered only a little over Rs 9,300 crore, mostly through minority stake sales in companies such as National Mineral Development Corporation (NMDC), Housing and Urban Development Corporation (HUDCO), and Indian Petrochemicals Corporation (now Reliance Industries), among others. This sum doesn't include the amount raised through the privatisation of Air India, which was sold back to the airlines' original owner, Tata Group, in October last year. This was the Modi government's first privatisation deal in seven years. Now, let us understand privatisation. It refers to the sale of the government's majority stake, or the whole enterprise, to private investors. In case of privatisation, the government doesn't hold the resulting control and ownership. While the government is confident of mopping up Rs 1 trillion through LIC's IPO in this fiscal year, the planned privatisation of Bharat Petroleum Corporation Limited (BPCL) is likely to spill over to the next financial year. This would mean that the government will miss its disinvestment target yet again. Watch video
Gigabyte has made faulty power supplies, and is trying to say the testing is wrong. Let's talk about it. Gamers Nexus first video on PSUs: https://www.youtube.com/watch?v=aACtT_rzToI Gamers Nexus responding to Gigabyte: https://www.youtube.com/watch?v=Xts3pvbcFos --- Send in a voice message: https://anchor.fm/earlybirbbriefing/message Support this podcast: https://anchor.fm/earlybirbbriefing/support
Gamers Nexus has found that Power Supplies that were bundled with GPUs can catch fire due to wonky protections. let's talk about it. --- Send in a voice message: https://anchor.fm/earlybirbbriefing/message Support this podcast: https://anchor.fm/earlybirbbriefing/support
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