Month: July 2022

Waging war on drug prices: One-molecule, one-price policy

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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As the government indicated trade margin rationalisation (TMR) on non-scheduled drugs to bring down prices of medicines by cutting margins earned by wholesalers, distributors and retailers, several small and medium pharma companies have suggested the government to adopt ‘one-molecule, one-price’ formula instead.

The difference between the price at which manufacturers sell products to stockists and the price at which they are sold to consumers is known as trade margin. The National Pharmaceutical Pricing Authority (NPPA) has fixed the rates of scheduled drugs whereas the prices of non-scheduled drugs are allowed to increase by as much as 10 percent a year.

What is a one-molecule, one-price policy (OMOP) ?

Such a policy will ensure same price for all drugs that are made with similar chemical composition, irrespective of the brand manufacturing them. But the demand for this uniform formula has amplified due to a medical marvel.

Medical marvel

At present, medicines with similar chemical compositions are sold at multiple prices by different pharmaceutical companies. For instance, a strip consisting 14 tablets of Atenolol Tablets 50 mg, which is manufactured by the FDC limited, is sold for Rs 8 (approximate value) whereas the drug with the same chemical composition manufactured by Nicholas Piramal India Limited is sold for around Rs 64.

Similarly, tablets like Zydus Cadilas diclofenac are sold under four names Activa, Diclofen, Inac and Jonac with price for a 10-tablet pack ranging from 19 paise to Rs 1.29

The Drug Price Control Order (DPCO) suggested a formula to decide the retail price of the drugs. This formula calculates material cost (MC), conversion cost (CC), cost of packaging material including the process loss (PM), packing charges (PC), maximum allowable post-manufacturing expenses (MAPE) and excise duty (ED) for the price at which consumers will buy drugs.

This means, retail price = (MC+CC+PM+PC)*(1+MAPE/100)+ ED

If the formula is set by the government agency then what leads to the medical marvel?

A massive variation in prices of drugs of different companies is caused because of changes the firms make in MAPE to increase drug prices, a senior industry official said. In several instances, companies have added to their research and development expenditure, product development and regulatory approval costs to raise the price of the drug.

The disparity of prices became evident when the pharma industry lost over Rs 2000 crore after the implementation of the new drug price control order (DPCO) that came into effect in July 2013. To stop the widening gap, DPCO sets the ceiling prices.

Debates around price regulation

Moneycontrol.com, in an explainer, said, the pricing mechanism followed by DPCO is a market-based pricing mechanism. It means that the ceiling price of drugs is decided on the basis of simple average price of ‘all brands having at least one percent market share of the total market turnover of that drug plus a notional 16 percent retailer’s margin.’

This mechanism was implemented in 2013. Prior to it, DPCO used to follow a cost-based pricing mechanism that was based on costs put in for manufacturing medicine along with reasonable profit margins. Health experts argue that this mechanism offered lower prices than the current policy.

Also Read: Rapid consolidation in India’s medical diagnostics sector may force small local labs succumb to competition

Besides the structural issue, an unhealthy alliance between doctors and pharma companies also results in the former prescribing medicines of the latter’s brand to the patient.

Towards a reform

Laghu Udyog Bharati, Federation of Pharma Entrepreneurs, Himachal Drug Manufacturers Association (HDMA), and the Indian Federation of Pharma Generics have urged the government to adopt this formula. They are also planning to raise this issue in an upcoming meeting with Union Minister for Health and Chemicals and Fertilizers Mansukh Mandaviya.

What if only TMR is implemented?

“We request the government to find out another way and apply a uniform formula (OMOP) for all segments,” said Rajesh Gupta, the all India head of the Laghu Udyog Bharati in an article for The Economic Times. He also added that TMR will benefit big companies to gain profits by selling their drugs at high prices. On the other hand, generic brands may wipe out due to their meagre margins in the next few years.

If implemented, how one-molecule, one-price policy will impact the existing structure?

The proponents of the uniform formula believe that it would help in streamlining the margin of wholesalers and retailers. ET quoted a member of HDMA saying “This will avoid losses to the industry and confusion. Presently, the pharma sector is growing at 9 percent annually and to avoid any downward trend, it is important for the government to facilitate the pharma industry.”

Also Read: How Atmanirbhar is India’s pharma sector?

Some industry experts also believe that it will disrupt the monopoly of big pharma entities.

Those against the implementation of OMOP argue that its implementation will not help pharma MSMEs as the brand value still remains with the larger pharma entities. Another argument is that it will increase the weighted average again, resulting in a price hike.

Why is there a buzz for an alternative pricing structure?

A report published in The Lancet in 2018 reported that 2.4 million Indians die from treatable conditions every year in India because of unaffordable medicines. It was considered to be the worst outcome among 136 nations that were assessed for the study.

A report by Azim Premji University titled ‘State of Working India 2021:One Year of Covid-19’ reported that from 2020 to 2021, the number of individuals below the national wage threshold, which is Rs 375 per day (as per the recommendations of Anoop Satpathy committee), has increased by 230 million. Even after this India’s health expenditure remains comparatively low.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

CWG 2022: Medal rush from Indian weightlifters continue as Bindyarani Devi clinches silver

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s Bindyarani Devi raised her game to secure a silver medal in the women’s 55kg category, providing the country’s fourth weightlifting medal in as many categories as at the Commonwealth Games in Birmingham.

Soon after Mirabai Chanu’s gold, the 23-year-old created a Games record by lifting 116kg in the clean and jerk after a personal best of 86kg in the snatch section, totalling 202 kg on Saturday. The gold medal expectedly went to Nigeria’s Adijat Adenike Olarinoye, who lifted 203kg (92kg+111kg). She also smashed the Games record in snatch and total effort.

Local favourite England’s Fraer Morrow bagged the bronze with a 198kg effort (89kg+109kg). “It is my first CWG and I feel very happy about the silver and about the Games record as well,” Bindyarani said.

Like Chanu, Bindyarani too hails from Manipur. She had won the Commonwealth Championships gold in 2019 before getting a silver in the 2021 edition. Daughter of a farmer who also owns grocery shop, Bindyarani took up weightlifting due to her short height.

Read: Mirabai Chanu creates new Games Record to win India’s first gold in Birmingham

“I was into taekwondo from 2008 to 2012 after that I shifted to weightlifting. I had a height problem so had to shift. Everyone told my height is ideal for weightlifting. So I changed.” Bindyarani was in the bronze medal finish after the snatch section with a personal best of 86kg, behind Olarinoye (92kg) and Fraer (89kg). The Indian made an unsuccessful second attempt for 115 kg before lifting a kilogram more to elevate her to silver medal position from bronze as Morrow fluffed her final 115kg attempt. Earlier in the day, Chanu had provided India its first gold while Sanket Sargar and Gururaja Poojary had clinched silver and bronze medals respectively.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India at CWG 2022, Day 3 highlights: Jeremy Lalrinnunga wins gold; India thrash Ghana 11-0 in men’s hockey; IND beat PAK in women’s T20 cricket

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Follow all LIVE updates from the Day 3 action of the Indian contingent at the 2022 Birmingham Commonwealth Games here.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Meet the new commissioner of Delhi police — the man who chased down Veerappan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Union Home Ministry on Sunday appointed IPS officer Sanjay Arora as the new Delhi police commissioner with effect from August 1. He is an officer from the Tamil Nadu 1988 cadre. At present, he is the Director General of the Indo-Tibetan Border Police (ITBP).

Outgoing Delhi police chief Rakesh Asthana completed his one-year extension for the commissioner’s post on Sunday. He will be given farewell by the Delhi police at 5pm on Sunday, following which Arora can formally take over the post from Monday.

There had been no discussion of Arora’s name for the post, but later it was known that the Tamil Nadu cadre officer Sanjay Arora was transferred to the Arunachal Pradesh, Goa, Mizoram and Union Territories (AGMUT) cadre, whose officers serve in the Delhi Police. The Union Home Ministry then issued an order appointing him as the new Delhi police chief.

SP of the special task force to eliminate Veerappan

A special task force was formed in Tamil Nadu against brigand Veerappan and his gangsters of sandalwood and ivory teeth smugglers. When the last major operation was being carried out against Veerappan, Arora was the superintendent of police (SP) of the Special Task Force. He was also awarded the CM’s Gallantry Medal. Arora has also served at various positions in the Tamil Nadu police.

Combating LTTE terrorists

After his training from the National Security Guard (NSG) in 1991, Arora was instrumental in the formation of the Special Protection Group (SPG) to provide security to the Chief Minister of Tamil Nadu at a time when the LTTE militancy was at its peak. He also served as the SP of various districts of Tamil Nadu. Arora also played a big role in making the security system strong. He also served as the police chief of Coimbatore from 2002 to 2004. He was posted as the deputy inspector general of police in the Villupuram Range. Before joining the inspector general post for Railways, he held the post of deputy director, vigilance and anti-corruption (ACB).

Central deputation

After Arora came on central deputation from Tamil Nadu cadre, he served as Commandant in the Indo-Tibetan Border Police (ITBP) from 1997 to 2002. He served as a fighter of a battalion based in Uttarakhand. As an instructor, he contributed significantly in the field of training as a fighter in combat wing at ITBP Academy, Mussoorie from 2000 to 2002. He also served at key posts in the BSF and CRPF before taking over as director general at ITBP.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Toy industry exports have soared to Rs 26 billion: PM Modi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi on Sunday lauded the Indian toy industry for achieving the success “no one could have imagined”, noting that its export has soared to Rs 2,600 crore from Rs 300-400 crore. When it comes to Indian toys, the echo of ‘vocal for local’ is being heard everywhere, he said in his monthly ‘Mann ki Baat’ broadcast.

He said toys worth more than Rs 3,000 crore used to be imported but it has reduced by 70 percent. “It is a matter of joy that during this period, India has exported toys worth more than Rs 2,600 crore to foreign countries. Whereas earlier, only toys worth Rs 300-400 crore used to go out of India. All this happened during the COVID period,” Modi said.

He noted that he had earlier spoken about India having the potential to become a powerhouse in exports of toys. Local toys of India are eco-friendly, consonant with both tradition and nature, he said. “Due to our youngsters, startups and entrepreneurs, what our toy industry has achieved, the successes we have achieved, no one could have imagined,” he added.

Also Read: PM Modi launches revamped power distribution sector scheme

The Prime Minister said India’s toy sector has proven its mettle by transforming itself, with manufacturers now making toys based on Indian mythology, history and culture. Toy clusters are there everywhere in the country, and small entrepreneurs are getting a lot of benefit from it as their toys are now going around the world, he said.

Toy manufacturers from India are working closely with the world’s leading brands, he said. Noting that the startup sector is paying full attention to the world of toys, he said a startup named Shumme Toys in Bangalore is focusing on eco-friendly toys while Arkidzoo Company in Gujarat is making AR-based flash cards and story books. Pune-based Funvention is engaged in kindling the interest of children in science, technology and mathematics through learning, toys and activity puzzles, he said, adding that startups are doing a great job.

“Let us all together make Indian toys more popular all over the world. Along with this, I would also like to urge the parents to buy more and more Indian toys, puzzles and games,” he said.

In his speech, the Prime Minister also highlighted the growing global interest in India’s traditional forms of medicine as the fight against COVID-19 continues. He said the increasing interest of people in holistic healthcare has helped everyone a lot.

“There is a growing interest in Ayurveda and Indian medicine around the world. This is one of the major reasons why Ayush exports have witnessed a record growth and it is also a matter of joy that many new startups are also emerging in this sector,” he said. Recently, a global Ayush Investment and Innovation Summit was held, and investment proposals of around Rs 10,000 crore had been received, he said. He added that a huge effort is also being made in the field of varied medicinal plants and herbs.

The Indian Virtual Herbarium was launched in July, and it is an example of how digital world can be used to connect with our roots, he said.

Also Read: PM Modi inaugurates Bundelkhand Expressway: All you need to know

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

The Third Eye: It’s a battle between perfection and authenticity

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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As I tap on the Instagram lab…oops app, and click on Kim Kardashian’s profile — The first three pictures carefully lay out her positioning as a youth icon — a picture of her pouting followed by a picture of her and her sister Khloe Kardashian in the aesthetic of a future barbie— the vibe she seeks to give her new skincare brand and a picture of her using her beauty products. In her interview with the New York Times during the launch of her new skincare line Kim claimed that If she had to eat shit everyday so that she could look younger she maybe would. 

This was a statement that was made by a youth icon followed by 326 million people on Instagram (just to put things in perspective, the population of the USA is 329.5m as of 2022). 

A statement that further cemented her commitment to the beauty construct being standardised by Instagram and other social media platforms. It makes me curious, what makes her so successful on social media and in pop culture, and yet why it doesn’t quite translate to the businesses she has embarked on in the past.

Kardashians aren’t the only ones who have been trying to monetise popular beauty standards, legacy brands such as Victoria’s Secret too have been popular for promoting them. Yet the brand lost its mojo back in 2019 — when it shuttered down several retail stores and discontinued its fashion shows with an ever falling TV viewership. Many accused the brand of not being inclusive of real body types nor being adequately representative of different ethnicities. A song released by singer Jax (an American Singer and Songwriter, based in New Jersey) on Victoria’s Secret went viral recently — Its lyrics are:

“…I know Victoria’s Secret,

girl you wouldn’t believe,

she’s an old man who lives in Ohio,

Making money off girls like me…

I know Victoria’s Secret

She was made up by a dude…”

The brand quickly responded to the release of the song and their response has been pinned in the comments section of the cover release, up top.

It says: “We hear you…We have a new leadership including a board made up almost entirely of women (& that dude from Ohio is no longer a part of our business).We are focused on being an advocate for women & recognise this is a journey…”

I reached out to Jax personally to understand her side of the story, what really inspired her to compose this song and film it in pyjamas on an iphone with a messy bun and some really funny choreography. I asked her if inclusivity and authenticity are now going to become bigger themes than perfectionism in times to come, here’s what she said —

I grew up on stage and on social media. From a young age I felt the pressures of what my body should look like. How I should act. How I should perform. At 14, old men were telling  me to be sexier,  be more mysterious, be skinnier.  I went through all sorts of body image issues. It took a long time but I finally got to a place where I am comfortable in my skin. I like who I am and I will never listen to some old dudes in an office somewhere, trying to push what they find sexy. That is where my song Victoria’s Secret comes from and that’s where my whole business mentality is rooted. I want to support other badass women CEOs and surround myself with the best of the best women out here.  And I am not anti men by any means, I work with some super smart  guys that respect women and understand that the value of a person is not seven by their dress size or skin color or sexual orientation.  And I think that there are a hell of a lot of other people that feel the same way as me! 

Victoria’s Secret recently relaunched with a campaign representing more diverse body types and ethnicities. In many ways the response seems to have been lukewarm with it being welcomed by some while at the same time being accused of mere tokenism. 

Meanwhile other brands in similar categories seem to be going beyond the aesthetics and contributing more deeply to the inclusivity culture. 

Eby, a newer lingerie brand in USA, founded by Renata Black and backed by actress Sofia Vergara has on the other hand been praised for empowering female communities in India and around the world with its microfinance loans.

I reached out to VS India, however they were not available to comment . 

I truly believe we overdosed on the perfection-attention diet, served fresh to us by Instagram, as #nofilter becomes one of the most trending hashtags on the platform. It seems as if the consumer has now embarked on a quest for representation and authenticity, where are the Indian consumers in this narrative? 

“Indian consumers aren’t as driven by social media, they go beyond the digital influence. The Influencer community is now suspect in india. In India, the community has a stronger impact on individuals , the friends and family are more likely to influence than social media or influencers.” says Samir Srivastav, CEO, Jean Claude Biguine Salon and Spa.

He may not be wrong as per a recent survey, consumers placed more trust in peers and family members than they did on digital influence when it comes to making a purchase decision.

In India, brands such as Fair and Lovely have rebranded themselves, this can be seen as an important first step, but has also been labelled as mere performance, since the central brand narrative and product ingredients stay as is, as does its focus on promoting normative beauty standards.

As young girls we have all grown up watching Fair and Lovely ads, it continues to be one of the oldest and most widely available beauty brand in the country, where the woman is able to earn all she wants in her life — from job interviews to a promotion to a marriage — only by becoming fairer skinned.

This social phenomena closely relates to the terms Beauty Sickness as proposed by Renee Engeln — who emphasises that women are being increasingly taught to use beauty as a form of social currency in the world. She goes on to say that there’s nothing wrong with that, except its power is inversely proportional to normal human experiences like an increasing age or opinion. She further emphasises that beauty sickness inhibits real connection with the world as it’s more like walking with a mirror in front of you and observing yourself for perfection continuously rather than functioning as a part of the world, and connecting or observing it. Beauty sickness also keeps women from participating in other meaningful experiences, and directs them to get involved in activities that involve the upkeep of beauty. 

Is this why perfectionism is receiving a pushback from consumers, and inclusivity and authenticity are now emerging as real trends for businesses and brands internationally as well as in India? 

“Absolutely. Consumers today want transparency. People buy into people before they buy into brands and remaining authentic to who you are is key to creating a sustainable brand that withstands and evolves with the ebb and flow of retail, beauty trends and consumer behaviour”, says Nyakio Grieco, Co-Founder to USA based beauty Ecommerce platform Thirteen Lune and Founder of the brand, Relevant Skin. Thirteen Lune, a majority women-led and managed platform represents black and brown-owned businesses in the American beauty industry which has been traditionally dominated by normative beauty standards. The platform has recently secured a partnership with retail giant JCPenny and is quickly scaling to reach an even bigger audience.

Closer home, brands such as SUGAR Cosmetics — a makeup brand driven on authentic community sourced content and inclusive products, have been experiencing success as their belief in authenticity has paid dividends over time.  It has now translated to strong business numbers both in terms of brand awareness and record revenue numbers-

“The number that makes us the happiest at the top of the funnel is just the awareness about the brand. This is without counting television or print before we invested or had the money to invest, we were clocking 400 million impressions across our own social media channels… Similarly we are inching towards a $100 million run rate as a business and a lot of that is maybe the scale which makes our investors or consumers happy. However, for us, it’s just about continuing the growth story that started to find a product that the market loves. It is our duty to take it across the length and breadth  of the country and that’s exactly what we are doing right now. The whole inclusivity angle — the best example I can think of right now is our foundation sticks. We had a lot of debate internally if we should launch 8 shades, 10 shades, etc.. We went ahead and launched 22 shades, the maximum for any brand at the time. This product has become more than a position driver right now, it’s actually among our top 10 products right now. We went ahead with what we thought was true and the market rewarded us over time.” says Kaushik Mukherjee, Co- Founder and COO, SUGAR Cosmetics.

My conversation with Jax made me want to probe further, does the inclusion of women in the leadership team have any effect on the way the brands market themselves?

“We are big believers in representation. When we started, when we looked up at the biggest brands and didn’t see a team like ours. There was a lot of self doubt on whether we can make it. Today if you look at our whole workforce, 75 percent is women. I know for a fact that this culture of representation starts right at the top, right from my Co-Founder and CEO, and others in the leadership team. When young women join the company, when they see there’s space to grow into a decision maker and drive large initiatives, across the years, I think that starts from the top. There’s inclusivity and authenticity in everything we do, not just the products — even in recruitment, even in our messaging. it’s very, very ingrained in our culture at every level.” adds Kaushik.

As per a recent UN research done post COVID-19 to assess the impact of female leadership, one of the findings was that women were more decisive and inclusive in their decision making process. 

So women like Jax and brands like Sugar or Thirteen Lune which are actively women-led and managed definitely do not seem to confirm to the existing beauty standards , they do seem to be actively trying to communicate with women beyond just asking them to look pretty or planting an idea in their heads of what pretty should look like. Where are the millennial social media influencers on this?

“ I feel like people feel a little represented every time I talk about acne or when they see someone who doesn’t necessarily conform to the perfect body image. My followers and community has especially been very encouraging of me and they never let me look at my imperfections as imperfections , it encouraged me to open up to them and engage with them genuinely despite the pressure to give in and try to be a perfect female beauty influencer” says Khadija (@beautyanamoly) , a young beauty influencer. As per own experiences, she definitely saw a sharp increase in her engagement when she started showing up as her own self. 

As new DNA editing technologies like CRISPR and other potent product active discoveries  gear up to empower people to genetically or significantly change their appearances to further become a part of the perfectionism narrative and artists, influencers, brands or businesses rise up against it and pushback to introduce a counter culture on authenticity, inclusivity and diverse representation, it would be interesting to see who will set the new tone for popular culture and win the hearts and trust of consumers in times to come.

If conformity to aspirational beauty standards would make a strong comeback or inclusivity and authenticity will turn the tide. The question now remains —Should businesses and brands stick to setting aspirational influential standards that poorly commercialise or go very relatable and earn trust of consumers to engage and monetise?

Toxic perfectionism vs imperfect authenticity and inclusivity, this would be an interesting war of influence and ideology

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

From SSC to banking, here is a list of government and competitive exams in August

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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People from across fhe country every year try to secure themselves a job in various departments of the Indian government through various competitive exams.

Here is the list of competitive and government exams that are expected to be conducted in August.

Union Public Service Commission

UPSC | Central Armed Police Forces (ACs) Exam | August 7, 2022

UPSSC

Combined Technical Services Competitive Exam 2016 | August 7, 2022

Forest Guard and Wildlife Guard Competitive Examination | August 21, 2022

Also read: Telangana SI exam hall ticket 2022 released: Here’s how to download

Institute of Banking Personnel Selection

IBPS RRB Assistant | August 7, 13 and 14, 2022

IBPS RRB Officer | August 20 and 21, 2022

IBPS Clerk | August 28, 2022, September 3 and 4, 2022

RRB XI | August 2022

Staff Selection Commission

SSC Selection Post Examination Phase-X (Tier I CBE Exam) | August 2022

Banks

SBI Clerk 2022 | August 2022 (expected)

GIC Assistant Manager | August 2022

IDBI Bank Assistant Manager Recruitment | August 2022

MBA

MAH CET | August 2022

State wise government exams

Group C Services Main Exam 2021 Combined Paper I | August 6, 2022 | Maharashtra

Group C Services Main Exam 2021 Clerk-Typist Paper II | August 13, 2022 | Maharashtra

Group C Services Main Exam 2021 Excise Sub Inspector Paper II | August 20, 2022 | Maharashtra

Group C Services Main Exam 2021 Tax Assistant Paper II | August 27, 2022 | Maharashtra

Combined State (Civil) Lower Subordinate Service 2021 Mains Exam | August 28, 2022 | Uttarakhand

Also read: Final-year students from China, Ukraine eligible for Foreign Medical Graduate exam

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Premchand Birth Anniversary: Popular novels by the legendary writer

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Dhanpat Rai Shrivastava, popularly known by his pen name Premchand, was a blessing to Indian literature. Born in Lamhi, a small village near Varanasi, on July 31, 1880, Premchand is considered one of the greatest literary figures in India for his immortal stories and novels.

Apart from his iconic stories and novels, Premchand has also left a rich legacy of his plays, essays, translations and children’s literature.

The legendary writer’s work reflected the realities of colonial India and delved into the roots of social evils of the time. His writings showcased the socio-economic realities that prevailed in a country that was slowly emerging from the shackles of colonialism as a newborn nation.

His literary work highlighted several issues ranging from widow re-marriage, dowry, untouchability, labour exploitation, prostitution and the feudal system among others.

On the occasion of Premchand’s 142nd birth anniversary, here is a look at some of his most popular novels.

Godaan (1936)

Highlighting the class struggle and the exploitation of the down-trodden by the landlords in a feudal society, Godaan is a spectacular literary creation that shows the socio-economic realities of pre-Independent India. A cinematic adaptation of the novel was also released in 1963, with actors like Raaj Kumar, Mehmood and Shashikala playing the lead roles.

Seva Sadan (1918)

Originally written in Urdu under the moniker Bazaar-e-Husn, the novel got published in Hindi in 1919. It was Premchand’s first major novel. The story featured a housewife who sets out on a journey of reformation against the social stigmas.

Gaban (1931)

One of the best examples of Premchand’s writing, Gaban tells the tale of a man named Ramnath who ends up stealing jewels from his wife. The novel displays the struggle of the youths in pre-independent India in the most authentic light.

Nirmala (1928)

The novel is a striking blow on the dowry exploitation that the women endure, even now. The story revolves around a young woman who is married off to an elderly man and brings the unfair treatment of women under the spotlight.

Karmabhoomi (1932)

Karmabhoomi is based on the state of Uttar Pradesh during the 1930s and shows the exploitation of the poor by the privileged class. Premchand has successfully portrayed the class struggle in the early 1930s when exploitation of the poor was prevalent across the country irrespective of their class and religion.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

View | The emerging era of credible ESG reporting

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a business imperative, ESG is having a moment. ESG has become the financial markets’ lingo, and it is increasingly being referred to as a data-driven approach to understanding long-term value. Investors and stakeholders at large today are demanding improved management of, and far more transparency into Environmental, Social and Governance (ESG) concerns.

This pivot to recognition for ESG has prompted companies to increasingly disclose ESG data voluntarily in an attempt to address investor queries and give deeper insight into a company’s enterprise value.

However, ESG reporting comes with its own challenges. More than half (57 percent) of finance, accounting, sustainability, and legal executives at public companies with over $500 million in revenue stated that data availability (access) and data quality (accuracy or completeness) are their primary concerns when it comes to disclosing ESG data, as per a recent survey by Deloitte. Eighty-two percent respondents believe that additional resources will be required to develop ESG disclosures that fulfill the information demands of essential stakeholders.

Some of the major concerns that organizations need to address with respect to sustainability reporting include regulations and procedures governing the involvement of finance, audit committees and board of directors; current climate-related data being collected and the associated level of assurance; process for evaluating materiality of climate-related disclosures and the resources required by an industry to achieve proposed reporting deadlines.

We’re witnessing a radical shift in emphasis on enhanced disclosure, purposeful reporting, and financially relevant disclosure about how ESG factors impact financial reporting and an organization’s results of operations.

Also Read: View: Workforce woes at India’s airlines signal a time for change

So how can corporations respond effectively to this demand and incorporate both qualitative discussions and quantitative metrics in their ESG reports?

Companies today can employ a range of frameworks and standards for voluntary sustainability reporting, including Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and Task Force on Climate-related Financial Disclosures (TCFD) recommendations. These reporting frameworks offer principles-based guidelines to assist businesses in identifying ESG themes to cover while also determining the structure of ESG information they disclose.

Furthermore, companies must avail assurance engagements such as third-party assurance ranging from review or examination-level attestation from an independent accounting firm to verification or certification services from engineering and consulting firms. This assists ESG information users, including investors and other stakeholders seeking transparency, high quality, accurate, and reliable data about ESG initiatives.

There are certain hazards too that firms must avoid as they mature in the ESG ecosystem. These potential pitfalls include becoming distracted by the desire to be everything to every stakeholder. They should instead focus on relevance to corporate strategy. They should identify performance, risk, and opportunity areas that allow a company to successfully monitor its performance against its vision while also communicating credibly to stakeholders. Another major stumbling block is failing to establish metrics and targets that are related to gutsy and ambitious public commitments. Corporations should think about such pledges in light of the impact on the financial statements today. ESG Reports must show a connection of thought between what they’re doing strategically and how that’s translating into their performance currently.

As the regulatory environment evolves, it is vital for businesses to fully comprehend and respond to this call to action, in order to advance their focus on ESG, which is enabled by high-quality disclosure.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Mohammed Rafi 42nd death anniversary: Evergreen songs of the iconic singer

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Mohammed Rafi was more than just a great playback singer. He was a colossus who ruled the minds and hearts of millions of people like no one else could.

In fact, Rafi is still adored by several generations across India and abroad. His songs transcend time as he had an uncanny ability to bring joy and contentment through his inimitable craft.

It has been more than 40 years since Rafi died on July 31, 1980. However, even after all these years, Rafi’s magic lives on and his songs fill people with hope and optimism for the future. On his 42nd death anniversary, let us look back at some of his greatest hits.

Baharo Phool Barsao

This evergreen song from the film Suraj is still crooned by music lovers of all generations. Fans regard this song as one of Rafi’s most memorable numbers.

Its beautiful music was composed by Shankar Jaikishan and Hasrat Jaipuri wrote the lyrics.

 Jo Wada Kiya Woh Nibhana Padega

In this timeless song, a lover asks his partner to fulfil the promises made to each other in all circumstances. Jo Wada Kiya Woh Nibhana Padega is from the 1963 film Taj Mahal. Rafi’s renditions of Sahir Ludhianvi’s lyrics in this track still appeal to the younger generation.

Kya Hua Tera Wada

Kya Hua Tera Wada is from the 1977 film Hum Kisise Kum Nahi and is often crooned by music buffs. RD Burman’s legendary music makes this song distinctly captivating. Rafi’s magical voice makes it one of the most beloved songs.

Dil Ka Bhanwar Kare Pukar

The charm of Dev Anand and Nutan, SD Burman’s melody and Mohammad Rafi’s euphonious voice made Dil Ka Bhanwar Kare Pukar a chartbuster. Many generations have grown up witnessing Dev Anand and Nutan’s amazing onscreen chemistry in the song. The song from the 1963 film Tere Ghar Ke Saamne, beautifully encapsulates the essence of love.

Kar Chale Hum Fida

This song from the 1964 film Haqeeqat is widely considered as the greatest patriotic song. The song has become an indispensable part of Independence Day and Republic Day celebrations. Mohammad Rafi’s voice, Madan Mohan’s composition and Kaifi Azmi’s lyrics inculcate pride and patriotic fervour in whoever listens to this amazing song.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow