Tuesday, June 17, 2008

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Indian Festivals



India is known across the globe for its vibrant and colourful festivals and celebrations. The country is called the 'Land of Gods' where people of different religions follow all customs with equal zest and excitement. Its multi-cultural and multi-religious population adds to its colourful identity. People of various religions celebrate numerous festivals and occasions keeping the country swinging with joy all throughout. Amongst the thousands of festivals celebrated across the country, a few most popular and awaited festivals are Diwali, Dussehra, Ganesh Chaturthi, Durga Puja, Holi, Raksha Bandhan, Baisakhi, and Lakshmi Puja.


Diwali is also known as Deepawali meaning the lighting of many lamps traditionally called diyas to celebrate the victory of good over evil. The mythological connection of the festival marks the return of Ram to Ayodhya from his exile. This day is also marked in the Hindu calendar as the beginning of a financial New Year. People worship the goddess of wealth Lakshmi on this day. This occasion is also known as the Festival of Lights; fireworks, decorative lightings, and crackers are an integral part of this festival, which has its own charm for both children and adults.


The Festival of Dussehra is celebrated on the occasion of Navaratri. Navratri is the festival of Goddess Durga. People in different parts of country celebrate this occasion in different ways. In the North, people welcome the Goddess by singing and dancing. A traditional dance type Dandia is performed during these nine days of celebration. Celebrations are unique ranging from worshipping goddess Chamundeshwari (Durga) to exhibiting colorful toys on the day of bombe habba in Kannada or Bommala Koluvu in Telugu. In Bengal the nine day celebration of goddess Durga is known as the annual Durga Puja festival which is ideally a four day celebration and the last day is marked as Vijay Dashmi or Dussehra.


Ganesh Chaturthi is observed in the Hindu calendar as a day when Lord Ganesha makes his presence on earth for all his devotees. It is not the birthday of Lord Ganesha. While held all over India, it is at its most elaborate in Maharashtra, and other areas which were former states of the Maratha Empire. The festival is celebrated at home and also jointly in localities. An idol of lord Ganesha is brought and worshiped for 10 days, when people sing, dance and celebrate with family and friends. The idol of Lord Ganesha is bid good bye by immersing in water, and praying to him for a prosperous and successful year ahead.


Another big indian festival is Holi, also called the Festival of Colours. It is a major spring festival celebrated all throughout the country. In History it is linked to the burning of Goddess Holika in fire, symbolising the end of all evils.The mythological story of Krishna and Radha and their immortal love is celebrated in some parts of India on this day. People play with bight colours to celebrate this day. It is an occasion full of fun and frolick, when people indulge in a lot of sweets and drinks. And folk music plays a very important role in making the occasion brighter.


Raksha Bandhan or Rakhi celebrates the relationship between sisters and brothers, when sisters tie an auspicious thread on their brother's wrist, in exchange taking vow from their brothers to protect them. This is how the occasion has derived its name. Today, it is a day when brothers and sisters celebrate and enjoy the day. They exchange gifts on this occasion to express their love for each other. It is a typical occasion of family celebrations.


Sweets, Gifts and flowers are integral part of all Indian festivals. People exchange gifts and sweets with their family members and friends to rejoice and wish them a happy festive season. The tradition of exchanging gifts on these festive occasion are taking a strong hold and is just another gesture to show that festivals are all about being with your family, near and dear ones and wishing them good luck and happiness for ever.

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Preetu, the dedicated content writer for Batchmates.com adds new colours to the site with her words.

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Now that Bollywood (Bombay-plus-Hollywood--an affectionate nickname for India's terrifyingly productive film industry) has finally gone mainstream in the West (Bride and Prejudice, Monsoon Wedding), many American listeners are curious to know more about the genre's extremely busy soundtrack singers. Club-goers are already primed by Bhangra nights, but for the uninitiated, the high-pitched female voices, loosey-goosey chorales, and wild-and-wooly instrumentals may take some getting used to. However, anyone willing to make the effort will be quickly rewarded. This compilation is a great place to start as it is well-produced and fairly typical of the genre at its best. Among the male singers, Kishore Kumar is well accounted for. Of the big female names, Lata Mangeshkar is represented but her even-more-famous sister, Asha Bhosle, is not. But Chitra, who sounds like an Indian Dolly Parton, almost makes up for her absence. Anyone who wants to know still more about this most flagrantly hedonistic of musical styles is directed to the exhaustively annotated Rough Guide To Bollywood and Manteca's delightful I Love Bollywood. --Christina Roden



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Monday, June 09, 2008

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Foreign Direct Investments (FDI) in the Indian Real estate



India's claim to be one of the fastest growing economies in the world is best proved by the increasing number of countries showing interest to invest in the country as India is considered a stable country for investments by the overseas corporate market. This encouraging trend is further accelerated by the government's decision to liberalize policies on the foreign direct investments (FDI) in India in the real estate sector.


The Indian government in March 2005 amended existing norms to allow 100 per cent Foreign Direct Investments (FDI) in the construction business. This liberalization act cleared the path for foreign investment to meet the demand into development of the commercial and residential sectors and has encouraged several large financial firms and private equity funds to launch exclusive funds targeting the real estate sector. Until now, only Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) were permitted to invest in the housing and the real estate sectors. Foreign investors other than NRIs were allowed to invest only in development of integrated townships and settlements either through a wholly owned subsidiary or through a joint venture company in India along with a local partner.


At the same time, the government has also set up certain guidelines for investors willing to apply in FDI, which have conditions like area, investment options and target for completion of a project.


Minimum area


1 In case of development of serviced housing plots, 10 hectares (25 acres)


2 In case of construction-development projects, built-up area of 50,000 sq m.


3 In case of a combination project, any of the above two conditions Investment


Minimum capitalization


i. for wholly owned subsidiaries - US$ 10 million


ii. for JV with Indian partners - US$ 5 million-, to be brought in within 6 months of commencement of business


Original investment cannot be repatriated before a period of three years from completion of capitalization.


The investor may exit earlier with prior approval from Foreign Investment Promotion Board (FIPB).
Time frame & rules


At least 50 per cent of the project to be developed within five years from the date of obtaining all statutory clearances.
Investor cannot sell undeveloped plots - where roads, water supply, street lighting, drainage, sewerage and other conveniences are not available.
With this change in the government policy on FDI, all real estate sectors, residential, commercial and retail are currently witnessing huge growth in demand. India, during the first half of 2005-06 fiscal has attracted more than three times foreign investment at US$ 7.96 billion during making it amongst the "dominant host countries" for FDI in Asia and the Pacific (APAC). One of the most anticipated promises for the Indian real estate sector, which in turn will benefit developments of hotels, has been the entry of Real Estate Mutual Funds (REMFs) or Real Estate Investment Trusts (REITs).


The government policies on FDI offer opportunities for foreign investors to invest in different sectors like 100 percent in power trading, processing, development of new airports, laying of natural gas pipelines, petroleum infrastructure and warehousing of coffee and rubber. Limit for telecoms services firms have been raised from 49 per cent to 74 per cent. Another cap to the retailing industry in India is allowing 51% FDI in single brand outlet. The government is now set to initiate a second wave of reforms in the segment by liberalizing investment norms further. And this has also brought about a conspicuous interest by towards investments in the Indian hospitality sector. Industry reports suggest the inflow of about US$ 500 million into the real estate sector over the past six months and is expected to rise to a massive $ seven to eight billion over the next 18-30 months.


India in the next five-year period is estimated to require investments worth US $ 25 billion with the urban housing sector. This again has opened up opportunities for foreign investments in the realty sector. Despite the fact that in 2002, the Central government allowed up to 100% FDI for setting up townships, the flow of FDI investments has been stymied by the 100 acre criterion since acquiring such a large chunk of land was impossible in metropolitan cities and even satellite cities and state capitals,. But a landmark decision taken by the Union government in 2005, where the minimum land area for development by foreign investors was lowered from the earlier floor of 100 acres to 25 acres has thrown open the lucrative parts of the Indian realty market to global investors. Another perceptible spin-off of the easing of FDI policies will be the impact on quality and inevitable acceleration in construction activities.


Foreign Direct Investments in the real estate sector in India would contribute towards making the sector more organized. Besides increasing professionalism in the sector, it would bring in advanced technology and help in the creation of healthy and competitive market environment for both domestic and foreign investors.



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Business Line Headlines Saturday, September 01, 2001 (The Hindu)

Fri, 06 Jun 2008 17:19:07 GMT
Accountancy ICWAI move to standardise cost accounting norms THE Institute of Cost and Works Accountants of India (ICWAI) has taken the first step to codify costing practices into formal cost accounting standards.

Wednesday, June 04, 2008

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India Software Development to appear as universal leader in software testing



India Software Development to appear as universal leader in software testing and services. Country India is on its way to succeed in this field with more and more firms are Outsourcing their Software testing and some other services to the India. Country has large availability of testers that attracts the overseas IT companies to come to India. In last few years time duration, the Indian players in IT Outsourcing have proved that they can propose testing services at a small percentage of the cost and with the best quality. Software testing services make sense, since it charges a lot of money and extra time to seek and fix the software errors in software program, once the product is released. For the companies who take the help of other developers for these services are unable to find the bugs, so for them India Software Development is the best option.


Though, software testing service is not a new experience, but has been a part of any software development process. It also plays an important role in maintenance process. Many Indian Companies are there who have separate software testing department in the organization. In such departments developers and programmers are working on dubbing the errors or bugs. Still there are many companies who are unable to afford such services, so they seek for the overseas service providers who work for them. This is where offshore services come into the picture. Such companies who can't invest for such testing department now seek for such individual Indian IT companies for such software testing services.


India Software Development has many advantages


India Software Development has many advantages for software testing services. Organizations that outsource software testing service have a lessen cycle time, a shorter time to market for the product to be delivered and a high quality of service are also expected from them at a far lower cost by the customers. Along with this, a third party software tester is more like a beta consumer of the product of the company, who can revise the software program and find critical faults and errors. In this way for these companies such IT Outsourcing service providers are helpful. A majority of the firms, in the US, Europe and Japan, are now on the way to outsource software testing services either to their own companies or look for independent testing companies. Research suggests that India Software Development is the most demanded spot for such software testing services.


India also has a huge software testing market. More and more IT Outsourcing companies from abroad are now entering into India especially for software testing services.



For more informations please visti :
India Software Development to appear as universal leader in software testing
Software Development
Outsourcing News

About the Author


Hemal
hemal.d@tatvasoft.com

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