Politics & the Nation
  • BJP goes back on supporting the nuclear bill citing government's intrasigence
    • The BJP alleges that the Cabinet has diluted the right to recourse of the operator to sue the supplier in the event of a nuclear accident.
    • The latest version of the bill, cleared by the Cabinet on last Friday, made the right to recourse nearly impossible for the Indian operator. According to the new draft, an Indian operator of a nuclear supply can sue the supplier only if the supply in question was made with the intent of causing nuclear damage. In other words, the operator will have to prove that the supplier intentionally caused the accident.
    • Given the strong opposition from BJP and the Left, the government has only two options — either take a fresh look at the proposed legislation or streamroll it through the House by repeating the cut motion strategy. As Prime Minister Manmohan Singh is keen on the passage of the bill before US President Barack Obama’s visit to India, the government will take a call on the issue in the next two days.
    • Take a look at this figure to grasp the details.
Finance & Economy
  • Onsite revenues of IT companies under tax scanner
    • Take a look at this news report.  Makes an interesting reading and teaches us some nuances involved in the IT business.
    • On reading the news report, you will be very comfortable in answering questions relating to offshore business-model, onshore business-model, body shopping, T&M contracts etc.
    • The IT Department is now contending that the software firms are enjoying dual benefits. First, IT firms are not paying tax on T&M contracts; second, they are not reducing the foreign currency expenses for providing technical services abroad from the export turnover, and, therefore, ending up paying a lower tax than they should.
  • The wait for 3D TV may be longer
    • Though Samsung has introduced 3D TV sets in the Indian markets almost three months ago, the road ahead for 3D TV viewing in India is fraught with delays.
    • This is because to have 3D experience it is not enough if you have a 3D TV set.  Broadcasters need to receive or shoot their programmes in the 3D format, and buy more space on satellites. Cable and DTH providers also need more satellite space to transmit 3D images. This is going to take some time.
    • At present the only broadcaster that is having 3D content is Discover channel.  It has reportedly applied for a license with the Government.  Even when the government approval comes through, it will reportedly take about 9 months to one year for it to roll out the 3D network.
    • At present the industry is still making a transition to the high-definition (HD) format, which falls somewhere between 2D and 3D.  In HD, the image is five times sharper than the standard TV image, but not as real as a 3D image.
  • Monsoon progress and production estimates
  • Want an incisive analysis of the assumptions made to support the opening up of FDI in retail?
    • Look no further.  Taday’s op-ed in ET does an excellent job.  Very good one.  A must read.  Do so here.
Language lessons
  • progenitor: Noun
    • An ancestor in the direct line
  • fess up: Verb
    • Admit or acknowledge a wrongdoing or error
  • street cred: Noun
    • Credibility among young fashionable urban individuals
  • sonata: Noun
    • A musical composition of 3 or 4 movements of contrasting forms