Well, the title could have been simply Political Acts which would obviously means stupidity!
Recently I happen to see a opposition party agitation in kerala where the party people were showing a comparative chart, comparing prices of goods when their party ruled and current. The list was like "Rice- Rs 10 then.. Rs 20 now... ..........etc etc "
And they were putting slogans saying usual 'Down with the govt' and all.
Well, haven't these people heard of inflation and global inflation data?? Price of a cup of tea was just 1or 2 paisa 50 years back, DOES that mean the government then was the best one??
Inflation in India is around 5-6 % average for past few years and this year it soured to 10+ levels and people started protesting!
If we take inflation data of any country in the world, India is far better!! Inflation in most middle east countries like UAE, Bahrain in around 15-20%!! US inflation also doubled! So is the case with china, and other emerging countries.
How can India be isolated from a Global Inflation Trouble? We too enjoyed good growth when the whole world was growing and we naturally will be affected by global climate!
Inflation is quite natural in any growing economy and it cannot be called a -ve aspect. Its actually an inevitable 'sign' of Growth. It seems like the political parties want our inflation to be zero!! They seemed to have forgotten the 8% average GDP growth we enjoying now.
All they care about is simple protesting whatever the govt do just to throw off the government!
Well, it reminds me of one famous real life quote from the legendary film maker Kamal Hasan.
When asked about entering politics, he gently replied "Am I that good in acting????"
In another occasion he replied "Sorry, I can't act the whole day!"
Sunday, July 20, 2008
Saturday, July 19, 2008
I.T Recession & DOJ!!
Its July now in the year 2008 and most engineering graduates in India who are placed in IT companies are waiting desperately to get the date of joining (DOJ). Orkut scraps, chats , everything contains the word "DOJ"..!
After the tech-bubble of 2001, again this year IT firms are delaying the DOJ. I thought of putting some information regarding the same here!
Why the recession ?? Everyone might have read in newspapers regarding US Subprime Crisis and all. Most people avoid such news because very few have understood the Subprime and other terms!!
U can of course Google it and find out but I will try to put it as simple as possible and explain why all have to wait so long for DOJ!
In simple terms , Subprime loans are loans given to people who do not have a a good loan repayment history & has low income/job . Naturally Subprime loans are riskier and so banks asks for mortgage. (in local language- 'panayam' ) and houses were kept as mortgage mostly.
In US large no: of subprime loans were given last few years. But as interest rates increased monthly installement has also increased and many people didn't pay the installements. At the end banks were forced to foreclosure the loan. ('Japthi cheythu') As more and more people failed to repay, more and more properties were foreclosured. This was accompanied with a sudden fall in real estate and home prices. So banks couldn't get back the money which people owed them, as prices at which homes were sold were much below its estimated prices. Naturally banks suffered from heavy losses. The exact amount of losses is alarming and is estimated to be around 350Billion US Dollar. (1billion us dollar= 4200 crore indian rupees)!!!!!!!!!!!!!!!!!!!!
Big companies like CITIGROUP, Merryl Lynch,Barclays etc suffered huge losses. and this is exactly what we hear as US Financial Crisis or Subprime Crisis!!!
Now how this is related to IT recession??
IT companies in India are mainly service providers. And majority of revenue for them comes from banking & finance sector (BFSI) . BFS companies either delayed or canceled their expansion works and IT budgets, leading to slowdown in IT companies here.
There is another main reason which affected profit of all Indain IT companies. Its nothing but the appreciating Rupee. From 48ruppes per dollar to almost 38rs per dollar will affect the profit of IT companies by a good extent.
I hope now all understood why the looooooong wait for DOJ!!
US Subprime issue leading to slowdown in IT spending coupled with a appreciated rupee is the cause!!
So we can either simple sit down @ home waiting for DOJ to come, or do something useful !!
Some informations to see how worse the matter is -->http://news.bbc.co.uk/1/hi/business/7096845.stm
After the tech-bubble of 2001, again this year IT firms are delaying the DOJ. I thought of putting some information regarding the same here!
Why the recession ?? Everyone might have read in newspapers regarding US Subprime Crisis and all. Most people avoid such news because very few have understood the Subprime and other terms!!
U can of course Google it and find out but I will try to put it as simple as possible and explain why all have to wait so long for DOJ!
In simple terms , Subprime loans are loans given to people who do not have a a good loan repayment history & has low income/job . Naturally Subprime loans are riskier and so banks asks for mortgage. (in local language- 'panayam' ) and houses were kept as mortgage mostly.
In US large no: of subprime loans were given last few years. But as interest rates increased monthly installement has also increased and many people didn't pay the installements. At the end banks were forced to foreclosure the loan. ('Japthi cheythu') As more and more people failed to repay, more and more properties were foreclosured. This was accompanied with a sudden fall in real estate and home prices. So banks couldn't get back the money which people owed them, as prices at which homes were sold were much below its estimated prices. Naturally banks suffered from heavy losses. The exact amount of losses is alarming and is estimated to be around 350Billion US Dollar. (1billion us dollar= 4200 crore indian rupees)!!!!!!!!!!!!!!!!!!!!
Big companies like CITIGROUP, Merryl Lynch,Barclays etc suffered huge losses. and this is exactly what we hear as US Financial Crisis or Subprime Crisis!!!
Now how this is related to IT recession??
IT companies in India are mainly service providers. And majority of revenue for them comes from banking & finance sector (BFSI) . BFS companies either delayed or canceled their expansion works and IT budgets, leading to slowdown in IT companies here.
There is another main reason which affected profit of all Indain IT companies. Its nothing but the appreciating Rupee. From 48ruppes per dollar to almost 38rs per dollar will affect the profit of IT companies by a good extent.
I hope now all understood why the looooooong wait for DOJ!!
US Subprime issue leading to slowdown in IT spending coupled with a appreciated rupee is the cause!!
So we can either simple sit down @ home waiting for DOJ to come, or do something useful !!
Some informations to see how worse the matter is -->http://news.bbc.co.uk/1/hi/business/7096845.stm
Quality of Enggineering College Graduates
Let me speak something about the quality of Engineering graduates in kerala.. (I have just passed out from a leading institute in Kerala )
I was under the assumption that the learning-by-heart technique will work only till 12th! But now, I can say without any doubt that, by simple ' learning by heart technique ' one can get good scores!
All subjects are pure theory based. Thats fine becoz a good theoretical foundation is necessary. But with mere theory no one can become a true engineer. The exam methodology is testing your ability to memorize things rather than checking your knowledge and applicability. 5 modules per subject,6 subjects per semester, 8 semesters like this will make a graduate who can be put to little use in real industry.
The only thing which tests the real talent of students are academic projects. But unfortunately, we have 100's of institutes offering so called 'project guidance' to students where most students "buy" projects from them present before the teachers and even worse, teachers don't even have the ability to find plagiarism.
IT industries have realized this and are offering rigorous training to all freshers before being put to any useful work. Most company's claim that they spend lakhs of rupees to train a individual. I was wondering, if our educational system can be modified slightly, in accordance with industrial needs, companies could save millions of ruppes and hell lot of time. The IT training industry is the biggest gainers of this defective system with a size of Rs5,000-6,000 crores.
Even a simple change in syllabus or teaching methodology or testing methodology can make remarkable changes in quality of around 4 lakhs engineers passing out from various engg. colleges across the country.
We should focus more on Knowledge rather than Information. Why don't our system be changed to produce 'TRUE ENGINEERS" who are employable. Hope initiatives like CampusConnect launched by Infosys will see good result.
I was under the assumption that the learning-by-heart technique will work only till 12th! But now, I can say without any doubt that, by simple ' learning by heart technique ' one can get good scores!
All subjects are pure theory based. Thats fine becoz a good theoretical foundation is necessary. But with mere theory no one can become a true engineer. The exam methodology is testing your ability to memorize things rather than checking your knowledge and applicability. 5 modules per subject,6 subjects per semester, 8 semesters like this will make a graduate who can be put to little use in real industry.
The only thing which tests the real talent of students are academic projects. But unfortunately, we have 100's of institutes offering so called 'project guidance' to students where most students "buy" projects from them present before the teachers and even worse, teachers don't even have the ability to find plagiarism.
IT industries have realized this and are offering rigorous training to all freshers before being put to any useful work. Most company's claim that they spend lakhs of rupees to train a individual. I was wondering, if our educational system can be modified slightly, in accordance with industrial needs, companies could save millions of ruppes and hell lot of time. The IT training industry is the biggest gainers of this defective system with a size of Rs5,000-6,000 crores.
Even a simple change in syllabus or teaching methodology or testing methodology can make remarkable changes in quality of around 4 lakhs engineers passing out from various engg. colleges across the country.
We should focus more on Knowledge rather than Information. Why don't our system be changed to produce 'TRUE ENGINEERS" who are employable. Hope initiatives like CampusConnect launched by Infosys will see good result.
Christian Priests - Irony
Got inspired to write this blog entry after reading about the 8 course dinner served at G-8 meeting @ Hokkeido in Japan, where they met to discuss how to handle world food crisis!!
The same kind of irony is found everywhere, particularly in preaching by christian priests. As per bible "those who have 2 dress, give 1 to the needy....." and the priests who preaches bible are the kind of people living luxurious than many of the average people. They keep on preaching about leading simple life and uses the luxury cars and other luxuries in life!!
I think our Mahatma Gandhi better followed Bible better than the christian missionaries! Mahatma says " Never demand anything from a person unless you yourself can show it by example." He lead by example and our priests doing just the opposite!! Coming in luxury cars to speak about leading simple life..
Remember during church festivals how many lakhs are spend for crackers, lighting and decoration, band sets etc... Seems like priest and other 'religious' people are blind to the poor people begging for a days bread while they march with the band set and all!!
This is worse than the G-8 meeting where country delegates discussed on solving world food crisis while enjoying a delicious 8 course dinner!!
The same kind of irony is found everywhere, particularly in preaching by christian priests. As per bible "those who have 2 dress, give 1 to the needy....." and the priests who preaches bible are the kind of people living luxurious than many of the average people. They keep on preaching about leading simple life and uses the luxury cars and other luxuries in life!!
I think our Mahatma Gandhi better followed Bible better than the christian missionaries! Mahatma says " Never demand anything from a person unless you yourself can show it by example." He lead by example and our priests doing just the opposite!! Coming in luxury cars to speak about leading simple life..
Remember during church festivals how many lakhs are spend for crackers, lighting and decoration, band sets etc... Seems like priest and other 'religious' people are blind to the poor people begging for a days bread while they march with the band set and all!!
This is worse than the G-8 meeting where country delegates discussed on solving world food crisis while enjoying a delicious 8 course dinner!!
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