Zero Based Budgeting to be introduced in AP Govt.

The AP State Government is gearing up to introduce a ‘zero-based budget’ from the next financial year, rather than opting for incremental allocations to departments, for a result oriented approach and ensuring that the fruits of welfare and development reached genuine beneficiaries.

Indicating that the Government wants reforms in expenditure, the Finance department has made it clear that allocations would forthwith be made on a quarterly basis and subject to submission of utilisation certificates. The decision comes in the light of the “tight fiscal situation” faced by the State, which started off with a deficit budget of over Rs. 16,000 crore.

“The revenue situation remains tight and there are several programmes that need to be implemented. The gap in resources needs to be bridged and this will be possible only when the efficiency improves,” Finance Minister Yanamala Ramakrishnudu said. He was addressing the participants of a pre-budget meeting of secretaries, heads of departments, collectors and superintendents of police convened here on Wednesday.

He told the participants that in the light of the financial constraints faced by the State post bifurcation, the Government focussed on scrutinising the schemes under implementation and release funds after analysing the results achieved by each department. He said there was no scope for significant increase in revenues in the near term as the Government was against imposing new taxes that would burden the common man. “Efforts are on to introduce a tax free budget as far as possible,” he averred.

Mr. Ramakrishnudu expressed concern that several departments were lagging in spending the amounts released to them as this was in turn showing up as deficit at the Government level.

The situation if allowed to continue would hit the fiscal parameters that would, in turn, hit the financial credibility of the State. “We will be left with no sources to mobilise funds if the credibility is affected,” he said exhorting the officials concerned to present realistic demands based on outcomes for securing funds.

The Finance Minister explained how difficult it was for the State to face the steep increase in revenue expenditure at a time when it was facing shortages to meet the capital expenditure that was hitting investments in the public sector. “This needs to be set right,” he said stressing the need for maintain fiscal prudence to contain revenue deficit, fiscal deficit and other financial parameters.

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Unknown 01:06  

Campus placements for CAs on the rise

At a time when placements at premier engineering and management institutes such as IIT and IIMs are scaling new heights, the highest salary for chartered accountants posted a marginal increase to 24 lakh for an international posting.

However, the highest salary offered for a domestic posting in the campus placements of Institute of Chartered Accountants of India (ICAI) was 17 lakh, a drop from the 21 lakh recorded during the previous placement season in March.

ITC offered the highest domestic salary while Alghanim Industries offered the highest salary for international posting.

A total of 952 chartered accountants (CAs) landed jobs, recording a 40% increase over March. The total number of CAs who sat for placements was not revealed. The average salary levels for CAs at campus placement has remained stable at nearly 7 lakh a year for the past two years.

In all, 86 companies, including TCS, Federal bank, ITC, Cairn and Barclays, visited the campus this time as against 80 in March.

"Chartered Accountants today are technically equipped to act as management consultants and play a vital role in assisting business and industry to improve the use of their resources, increase their efficiency and achieve their objectives. The breadth of management advisory services rendered reflect their expertise in diverse areas," K Raghu, president of ICAI, said in a statement.

While the accountants clearing the course have numerous paths to choose, the route to employment is either through placement programmes organized by ICAI or through off-campus placements.

They also have the option to obtain a Certificate of Practice (COP) and practice on their own.

Ashok Reddy, managing director and co-founder of TeamLease, a staffing firm, said, "The CA profession is such that, the pick-up in salary levels is much faster than other professional courses. Their value increases with the experience they gain," he said.

HR practitioners say that finance being a crucial department in all business entities, CAs have numerous sectors including banking, financial services, manufacturing, IT, telecom and infrastructure open to them. The ICAI organises campus placement for the qualified CAs twice in a year.

The candidates are given two chances to meet the companies by opting for two centres.

The candidates who opt for smaller centres as their first choice and fail to land a job, can take a second shot at placements by registering for bigger centres which are Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi.

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Anurag 21:56  

Likely - 13 Indian Institutes of Management (IIM) to award degrees to students instead of diplomas

NEW DELHI: Years after it was first proposed, the government is finally ready with a legislation empowering the 13 Indian Institutes of Management (IIM) to award degrees to students instead of diplomas. The bill will be introduced in Parliament

during the Budget session

According to HRD ministry officials, the Bill has been vetted by the law ministry and currently needs minor rewriting.

"They've (law ministry) mostly suggested changes to the language. The spirit of the Bill is the same," said a senior ministry official, who did not wish to be identified. "We're aiming to introduce it during the Budget session."

Unlike the IITs, which are governed by their own Act of Parliament, the IIMs are run by registered societies and therefore, award postgraduate diplomas at the end of their two-year programmes instead of an MBA.

The proposed legislations will make the IIMs institutes of national importance and confer degree granting powers.

The Bill, when passed, will mainly benefit graduates applying abroad for research opportunities. Currently, an IIM

alumus has to request his or her respective institute to provide a certificate saying that the diploma is equivalent to an

MBA degree in India. This step will also help IIMs gain global recognition and attract more foreign students. As of now, their international appeal is limited to students of Indian origin.

"It is a welcome move and one that students, in particular, will greatly benefit from. Students of the fellowship programme which is equivalent to a PhD have always faced a problem abroad explaining that the two (fellowship and PhD) carry the same weight. This bill will help them as also the PGP students for whom, now, a master's degree will be far more recognised globally than a PGDM," said IIM Calcutta director Saibal Chattopadhyay.

"Moreover, like in the case of the IITs, getting this Bill passed through an Act of Parliament gives IIMs the legitimacy they deserve," he added.

"Anything that helps further strengthen the IIM brand globally is a heartening move. Having said that, Indian talent especially from the IITs and IIMs is already globally recognised. The focus should be to ensure a robust and rigorous selection process to continue to maintain the quality of students," said Saugata Gupta, MD & CEO, Marico and alumnus of IIM Bangalore.

The proposed legislation has been in the making for years. Consultations between the IIMs and the government has had its share of ups and downs with the former zealously guarding their autonomy. Although the government started with the IIT Act as a template for the IIM Bill, but, according to ministry sources, the premier B-Schools have managed to protect their governance structure and autonomy to a great extent.

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Anurag 21:36  

"Love is Blind"

Lessons from Neuro Consumer Behavior Classes explained finally why courtship period has been and will always be wonderful for everyone -

Scientific explanation of "Love is Blind" 

When the mind says ; Knowing you will be in all my tomorrow, makes my today so wonderful

In anticipation of this gain; A sudden rush of dopamine (3,4-dihydroxyphenethylamine) in the brain makes it supress the gatekeeper "Amygdala" and ignore all the caveats in the anticipated transactions

It is this heightened expectation that keeps the journey going great

Finally, after a few days of toegtherness, when  dopamine suppresses, you start realising the other side of tjis golden story

POST PURCHASE DISSONANCE :)

Warm Regards
Anurag

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Anurag 17:41  

Happy New Year 2015

Maybe you are just too good for a 

CTC= x (based of school, college and attempts) +No of years of post qualification experience*y

Why take a job when you can build a career !!!!!

#cajobportal wishes you a Happy New Year 2015 

Say NO to Anu Aunties when it comes to career choices :)

https://www.youtube.com/watch?v=L61JqGGiSZw#t=65

Warm Regards
Anurag
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Anurag 17:57  

Chartered Accountants job vacancy at Bhavnagar Energy Company Limited, a Government of Gujarat undertaking.

Chartered Accountants job vacancy at Bhavnagar Energy Company Limited, Gujarat  Applications from eligible candidates invited for various job vacancies advertised at Bhavnagar Energy Company Limited a Government of Gujarat undertaking.  Candidates who fulfill the basic prerequisites required to send their detailed and updated resume to the undersigned not later than a week from 27.12.2014 through email to the email address provided.  Only shortlisted candidates will be asked to appear for selection process.  Candidate profile  Should be Chartered Accountant with 3 – 5 years of experience in Industrial Projects of SAP (FI CO) practical experience in the configuration, development & implementation.  Should be equipped with the knack of SAP – FI CO Module.  Should have ability to work effectively, add value as a team member and (to motivate the Accounts team) attempt to exploit those patterns.  Should have excellent communication and organizational skill.  Positive attitude, character, Integrity, Motivation, Determination and create value to the organization  Quick learner, self-starter, Goal oriented with strong ability to deliver  Detailed recruitment notification can be had at:  http://www.becl.in/hiring.html?id=4

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Anurag 18:36  

16 score perfect 100 percentile in CAT 2014

Sixteen students have scored 100 percentile including one from Indore while several candidates scored 99.99 percentile in Common Admission Test (CAT) 2014, result of which was announced on Saturday evening. Among the perfect 100 percentile scorer, only one girl could get space in the coterie. 

Number of 100 percentile scorers has just doubled in comparison to CAT 2013 when eight students had got perfect score and another 10 scored 99.99 percentile previous year. 

Convener, CAT 2014, Rohit Kapoor said, "16 candidates have scored 100 percentile in CAT 2014 including one girl candidate. Most of them are from engineering background. One is from Indore." 

CAT 2014 was conducted by IIM-Indore in partnership with testing agency TCS across the country. A total 1.75 lakh candidates appeared in the test across the country, of which nearly 14,000 took the test from six centres each in Indore and Bhopal. This year, the number of test centres across the country was increased to 354 in 99 cities against total 76 test centres in 40 cities in 2013. 

With this wait for 1.75 lakh candidates who had appeared the examination on November 16 and November 22 got over who have been anxiously for the result for more than a week now. IIM-Indore had set the result declaration deadline in the third week of December. However, to ensure result is glitch free and process is transparent, IIM-I authorities delayed it for few days. 

On last Sunday, the IIM-Indore had signalled that date of result would be declared on December 27.

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Anurag 20:14