DOMS IITRoorkee Magazine March2010

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Transcript of DOMS IITRoorkee Magazine March2010

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    Spotlight

    Creative Accounting: Manipulation Number Game

    The E of Economic Policy of India

    Admissions 2010

    lume - 1 Issue 02 March 2010

    Way to the Top!Elite Talks: Mr. S. Ramnath

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    Animesh AgraEditor DoMination

    (Department of Management Studies, IIT-Roorkee.)

    Dear Reader,

    I welcome you to the second edition of "DoMination . March officially marks the closing of fiscal year. In due course as you plan to save taxes doing 11th hour investments, be cautiousas though share market has rolled back its sleeves from 16K taking back charge to 17K , it may not have an extended stay there. Along with budget experts occupying your share of mind, wetoo have something to share with you in Union Budget 2010: Whats on your mind explaining what Budget means to you and also sharing our view on Economy and Equity Market Impact . Uncertainty is on the cards, but we would definitely keep you engaged forgood, if you stay invested in us.

    After the successful launch of our first edition in February, it undeniably excites us to stay all geared up to bring to you the second edition which will serve as a knowledge capsule that

    would recharge your mind. This March special edition brings to you articles like:

    Creative Accounting" which on some instances is termed as islike riding a tiger, withouknowing how to get off without being eaten . March is the month that strikes a bell in mind as theright time to understand 'The "E" of Economic Policy' ; that point out the direction in

    which the country proposes to move.

    An account of recently held Webinar on "Proactive Employee Relations conducted by NHRDN enabled the students and faculty members to interact with Mr. Vinay Bassi ,CHRO, ONICRA Credit Rating Agency Ltd. and Ex-HR Director at Goodyear India.

    In February we conducted the admission process for the batch of 2010-12 to scout for oursuccessors; we would soon be coming out with best of the lot to make DoMS proud onceagain.

    Do not forget to spend time on "Qutopia" , and send in your entries to make your mark inour next editions.

    This March we see the real BIGGIE coming alive - "Cognizance" is back with a bang."Cognizance-2010" has all eyes locked on, various online competitions and events are already on the roll. DoMS has its own share in "Cognizance-2010" through some really exciting events ; to charge-up each business-cell in your mind.

    All the entertainment we experience here inside our campus, we make sure to reach out toyou with true infotainment on them.

    Till the time we meet again; "Kudos" and "Happy Reading".

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    Way to the Top!

    1

    Union Budget 2010 What's on your Mind?

    -Animesh Agrawal & Akanksha Tikku

    DoMS, IIT-Roorkee

    Elite Talks: Mr. S. Ramnath

    Senior President (Corporate AffaPrism Cement

    Webinar with HR Thought Leader, Vinay Bassi

    9

    Proactive Employee Relation

    - Arpit Agrawal & Rishi Kesh Kaushik

    DoMS, IIT-Roorkee

    7

    Creative Accounting-Akhil Verma & Rahul Mondkar DoMS, IIT-Roorkee

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    Hocus-Focus

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    Qutopia-J. Arjun & Mayur Gujjar

    DoMS, IIT-Roorkee

    Upcoming Event, you just cant afford to miss out

    14Admissions 2010

    - Prashant Nath Endley

    DoMS, IIT-Roorkee

    11

    The E of Economic

    Policy of India-J.Pooja

    DoMS, IIT-Roorkee

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    Union Budget 2010 when declared must have straight away occupied your share of mind. By the time we get to know expert views on its tits & bits, ifs & buts of it; we interviewed few individuals on How this is going to affect them? .

    Here we share some of them with you as we await entries from you to have your say onUnion Budget 2010 .

    - Animesh Agrawal & Akanksha Tikku

    DoMS, IIT-Roorkee

    1

    Mr. Neeraj Agrawal Designation: A.G.M. (Sales &

    Marketing ) Organization: Reliance Infocom

    My take is that Direct-Tax benefits specifically intoslabs I fall in, alongside Rs.20 thousand additional investment wave off limit (though on investmentinto infrastructure allied investments), clubbed

    with existing optimal rates of home loanscumulatively call for a feel-good factor on the

    whole or rather I should say for me. Over andabove now as LTA allowance on travelling hasbeen renewed to be accounted annually insteadof once in two years slab again calls forapproximately 30 % savings on my annualleisure tour. Overall I can say is that it hasincreased my income by few thousands bucksper month.Counter Question: What about hiked fuel pricesdoesn't that compensates for your pseudo- increments ?

    A. Inflating fuel prices was a much expectedone; as far as I visualized observing existing pressure on private players into Oil Refinery &Distribution sector; which indeed was apparentfrom recent strikes in National Capital Region by

    various private players in this sectors; this wasmuch of an expected one. Rather we can say thatthis budget has tried to compensate for that not

    so welcoming move.

    Mrs. Achala Agrawal Home-maker

    Ahmedabad

    Surge in fuel prices gives a directindication that all things related tomy home becomes costlier now.Recent increase in auto / taxi farein Ahmadabad has already squeezed my budgets a little.

    This calls for a few very wellthought of measures to be taken tomanage my home.

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    Mr. S. M. Goyal

    Retired (Age:62) Indore

    Wave off for senior citizen savesme on my traveling expenses whiletraveling back & forth to meet my kiths & kins. But recent Rail-Budget has nothing to offer.

    Though Teerth-Yatra specialtrains have started but still itdoesn't have a pan-India coverage.

    Additionally Income Taxconsiderations for senior citizensstill defined at age of 65 Yrs &above leaves a big questionunanswered while everywhereage:60 + is considered eligible forsenior citizen what difference is it

    making to income-tax slabs?

    Contd..

    2

    Mr. S.K.TikkuDesignation DGM

    (Finance & Accounts)Organization Engineers

    India Ltd.

    On an individual level, this budget hasresulted in the increase in my take homeincome by appx. Rs. 50,000 due torestructuring of the tax slab rates. Alsothe Saral II form that has beenintroduced for filing tax returns is much

    simpler and user friendly. Since therehas been no change in service tax, there

    will be no additional impact by way of services utilized. An adverse effect willbe on account of increase in excise duty on petrol and diesel. On a corporatelevel, although there has been nochange in present tax rates but thesurcharge for domestic companies has

    been reduced to 7.5% from 10%,leading to a lesser tax impact on thecompanies.

    Mr.s. Abha Tikku Scientist (Soils)

    Organization: Haryana Agricultural University

    There has been a shift in the tax slabsdue to which as a working woman, I

    will get a tax benefit of appx. 50,000p.a . At the same time the increase inexcise duty leading to a hike in priceof consumer goods will definitely increase the cost of living. As ascientist, Im happy to see that thebudget has focused on promoting theuse of green and clean energy.

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    Contd..

    3

    Impact On The Economy The Union Budget 2010-11 presented on Friday has several importantimplications for the economy as well as equity and debt markets for theyear ahead. Broadly speaking, the government aims to improve itsfinances by reducing subsidies and normalizing indirect taxes even as ithas reduced income taxes on individuals. Over the last couple of years,because of the macro-economic crisis and rise in subsidies due to highcommodity prices, the governments finances weakened considerably andthe government has announced a multi-year road map to improve itsfinances. Specifically this budget aims to reduce the gap between thegovernments overall revenue and expenditure, called fiscal deficit, from6.7% in FY2010 to an estimated 5.5% in FY2011.

    Impact on Equity Markets What is good for economy is usually good for equity markets. We believethe budget will provide an additional boost to the already strong domesticdemand, particularly in the consumption-oriented segments. Fromcorporate revenue and earnings perspective, the budget has positives forconsumer sectors such as Auto, negatives for cement and realty sectorsand is neutral for banking sector. Also this budget is likely to enable apositive environment for infrastructure and capital goods sectors, giventhe increased outlays and additional tax break on infrastructure bonds.Overall the budget does not alter our view that FY2011 will be a year of economic revival, and also a year of strong growth in corporate earnings

    which is a significant improvement from the flattish trend observed overlast two years.

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    The way to the top of the corporate ladder isto cross the three levels namely the lower level,the middle level and the top level of management,to reach the pinnacle,