Monday, 12 June 2017

Demonetisation in India
On November 8, Indian Prime Minister Narendra Modi announced in a broadcast to the nation that Rs500 ($7.40) and Rs1,000 currency notes would no longer be recognized legally as currency. “Great,” said Corporate India, economic commentators, foreign investors, international think tanks and global rating agencies. “Masterstroke,” echoed the Confederation of Indian Industry (CII).
The aim behind the government’s action was to combat tax cheating, counterfeiting and corruption. Eliminating large denominations makes it harder to hide large amounts of cash. Modi noted that the move complements the country’s swachh bharat abhiyan (Clean India campaign). “For years, this country has felt that corruption, black money and terrorism are festering sores, holding us back in the race towards development,” he said. “To break the grip of corruption and black money, we have decided that the currency notes presently in use will no longer be legal tender from midnight tonight.” Added Finance Minister Arun Jaitley: “The goal of this is to clean transactions, [to] clean money.”
“This announcement appears to be the most significant change made by the Modi government to date,” says Girish Vanvari, partner and head (tax), KPMG in India. “Its impact could be even bigger than GST (the Goods and Services Tax which is still running the gauntlet of politicians).” Adds a report by Crisil, a global S&P company: “Tuesday’s move could change the face of the Indian economy, improve the government’s fiscal position and tax compliance. The size of the cash economy will shrink, as will black money generation avenues, because of the better cash-flow trail.”
That was Tuesday. By Wednesday, the picture on the streets had begun changing somewhat: The demon started surfacing. India is a cash economy; almost everyone keeps a few Rs500 notes as a nest egg. Lines began forming in front of ATMs and banks which could exchange old notes for new. A mere exchange — a new Rs500 for an old Rs500 — was not enough; there was also a limit imposed on how much one could exchange or withdraw from their accounts. In some cases, there were altercations as people waited for hours. Gas pumps and hospitals (which were allowed to accept old notes) saw a boom in business. People also wanted smaller currency notes to serve their daily needs. A loaf of bread costs Rs25. No shopkeeper would give change for Rs500.
“[The demonetization] move could change the face of the Indian economy.”–Crisil Report
The need for the government to keep the move a secret — so that tax evaders wouldn’t be alerted before the demonetization took place — affected preparedness. Jaitley admits it will take two-three weeks to reconfigure the ATMs to handle the newer and larger notes. A Rs2,000 note has also been introduced. Modi has suggested it will take 50 days (until the end of 2016) for people to adjust to the change.
Meanwhile, expensive marriages were called off. Deaths cannot be called off so easily — but the government catered to that by allowing payment at crematoria in old currency.
A Bold Move
“This [demonetization] is a step which will make a positive difference, if the transition challenges get handled well by the administration,” says Jitendra V. Singh, Wharton emeritus professor of management. “We will need to be careful of potential attempts to derail this positive agenda.” The International Monetary Fund (IMF) echoes those sentiments. “We support the measures to fight corruption and illicit financial flows in India,” said a spokesperson. “Of course, given the large role of cash in everyday transactions in India’s economy, the currency transition will have to be managed prudently to minimize possible disruption.”
According to Mauro F. Guillen, a Wharton management professor and director of the School’s Lauder Institute, “In the short term, [the move] could stifle some businesses that are legal and clean, if they use cash payments. But everyone will adjust. And while it can hurt some small businesses and individuals, it is better to do it than not.”
Guillen adds that large-value currency is an “important source of problems” such as corruption, black money, terrorism and counterfeit money. “The eurozone will be eliminating the largest euro note. The U.S. is also trying to reduce the [number of] 100 dollar bills in circulation.”
The role of cash and high-value bank notes in the Indian economy cannot be understated. According to Reserve Bank of India (RBI) figures, as of March 2016 currency in circulation amounted to Rs16,415 billion. Of this, Rs500 notes accounted for 47.8% in value and Rs1,000 notes another 38.6%. Together, they were more than 86% of the value of the notes in circulation. That’s a whopping amount to be frozen in one fell swoop.
Understandably, banks and ATMs can do only so much. There’s a lot of tinkering to be done with limits and schedules of the exchange outlets and bodies authorized to take payments in old bills — state-owned electricity suppliers, for instance. To the credit of the government, this is being done on a continuous basis. But there are questions — especially from political parties — over their effectiveness.
Will It Work?
There are also questions over whether the “masterstroke” is masterful enough. “Black money is not synonymous with corruption; it is rather one of several symptoms of corruption,” notes Rajesh Chakrabarti, professor and executive vice dean of the Jindal Global Business School at Jindal Global University. Pointing out that only a small percentage (by some estimates as low as less than 6%) of the unaccounted wealth is held in cash, Chakrabarti says: “This intervention is a one-time draining of this current stock of black money but unless the root causes of corruption are removed, corruption will continue. It is sort of like a dialysis, more of a short term cleaning up than a solution of the problem. It needs to be repeated periodically.”
The Indian reality, adds Chakrabarti, is that many trades and areas are still cash-based and “cannot be digitized just by willing it.” He cautions that the “resulting disruption in the real economy stemming from this move is very significant and potentially fatal” for some vulnerable sections of society. “If some of the key areas are hampered, there is risk of mob violence and rioting. Since the entire country is at risk, there is no way of anticipating and preparing for this, either. So there is a risk of the situation getting out of hand as well.”

“It will not be enough just to do this [demonetization]. It has to be matched with a better, more streamlined and integrated tax system.”Jitendra Singh
“There are serious negative externalities that have been created over time,” says Wharton’s Singh. “The black money parallel economy, for which no reliable size estimates are easily available, has become an increasingly serious problem over the years. This poses not only all manner of macroeconomic management challenges, it creates distortions in the economy.”
Singh offers a hypothetical example. “Imagine that I own some land in Bangalore. I want to sell the land, and I have no interest in short-circuiting the law. I want to pay all my taxes in India and elsewhere. However, I am told that the common practice is that some significant percentage of such a transaction will involve black money, maybe as much as 40%. If I want an all-white transaction, the selling price will be much lower. Imagine my dismay at learning this. The point is that the retrograde practices that have emerged with the black economy force innocent, honest people into considering illegal actions, because that has become the norm over time.”
There are many benefits that will come with the government’s move, Singh notes. “The size of the formal economy which the government can manage though its policy actions will increase, perhaps significantly. This step may have positive implications for tax revenues longer term. There may even be influences on the growth rate of GDP. However, for sectors like real estate, a notorious hotbed for black money transactions, there will likely be disinflationary pressures short term, with prices being pushed downward before they stabilize longer term.” Real estate shares have plunged, in some cases by more than 30%.
But the stock market may be the wrong place to look for signs of how the demonetization move has been received, because it coincided with Donald Trump’s victory in the U.S. presidential election. (“America counts votes as India counts notes,” headlined The Times of India.) That was a global dampener. The Bombay Stock Exchange Sensitive Index (Sensex) fell 1,000 points on Wednesday morning before ending up just 250 points down. The next day saw a 500 point rally followed by a 700-point plunge. The first two trading days of the next week saw another 1,000-point (nearly 4%) fall.
While most people are short-term pessimists but pin their faith on the long term, there are those who are skeptical of that aspect, too. “The cancellation of high-denomination notes is not expected to curtail black money or the black economy in the long run,” says Dev Kar, chief economist at Global Financial Integrity, a Washington-based think tank advocacy group. Kar is the author of a report titled “The Drivers and Dynamics of Illicit Financial Flows from India: 1948-2008.” The report estimates India lost a total of $213 billion due to illicit flows in that period. “The total value of illicit assets held abroad represents about 72% of the size of India’s underground economy which has been estimated at 50% of India’s GDP (or about $640 billion at end 2008),” says the report.
“Demonetization will place a temporary brake on illegal transactions in cash until operators figure out alternative ways of financing such transactions,” continues Kar. “The U.S. dollar and pound sterling obtained from the local black markets is one such way. This shift will drive up the dollar in the black market and increase the spread with the official rate, which will in turn put pressure on the official rate to depreciate.
Finally, the fact that the government has already announced Rs2,000 notes is a tacit admission that people need higher denomination notes in the future due to inflation. Expected inflation is running high due to India’s monetary and fiscal history. Small notes will rapidly lose further value so that essential goods cannot be purchased with a reasonable quantity. Governance needs to be improved in all its dimensions. Cosmetics will not cut it.”
“Everyone will adjust. And while it can hurt some small businesses and individuals, it is better to do it than not.”Mauro Guillen
Singh has some reservations, too. “It will not be enough just to do this [demonetization],” he says. “It has to be matched with a better, more streamlined and integrated tax system. The upcoming move to GST is a measure in the right direction, and the government needs to move forward with implementing the next steps of that reform measure.”
But, nonetheless, he sees the move as positive. “It is remarkable that PM Modi has taken this bold step. Clearly, there will be howls of protest from some. A simple analysis can be done by asking ‘cui bono’, which is Latin for ‘who benefits’ from the status quo. Just who has the stacks of Rs500 and Rs1,000 bills and cannot account for them? Those parties will not be happy with this step. But for the ordinary Indian, while there may be some discomfort during the transition, this will be fine in the longer term.”
Meanwhile, a group of prominent citizens including social activist Aruna Roy, economist Jayati Ghosh and writer Nayantara Sahgal have called the decision to demonetize Rs500 and Rs1,000 notes as “misconceived” and have demanded for it to be rolled back or suspended if the inconvenience to the public is not resolved immediately. In a joint statement questioning various aspects of the demonetization move, they have said: “Black money is generated through evasion of taxes on income from lawful activities and money generated from illegal activities. In the absence of steps to curb the generation of black money, demonetization is a futile exercise, as it proved to be in 1978.”
The Supreme Court of India, while refusing to stay the demonetization move, has asked the Modi government to file an affidavit detailing the steps being taken to ease the inconvenience to the general public.

Work in Progress

For Modi, this is work in progress. In his speech to the nation, he outlined what his government has done so far. A law was passed in 2015 for disclosure of foreign black money. Agreements with many countries, including the U.S., have been made to add provisions for sharing banking information. A strict law has come into force from August 2016 to curb benami transactions, or the purchase of property and deals using fictitious names — a way of deploying black money earned through corruption. A scheme was introduced for declaring black money after paying a stiff penalty. And arching over it all was the Prime Minister’s Jan Dhan Yojana, which aimed at financial inclusion for the whole country. Launched in August 2014, it has managed to add 250 million bank accounts through November 2016. Demonetization, then, was inevitable; the only surprise being when.

Wednesday, 31 May 2017

Contract Administration

  •       A contract is a written or oral legally binding document between client and contractor .
  •       Historically, this was most commonly achieved through signatures.
  •       But with the advancement of electronic- commerce, the forms of acceptance have expanded to include various forms of electronic  signatures.
a. Sales contract.
b. Purchase contracts.
c. Partnership agreements.
d. Trade contracts.
e. Construction contracts:-
(a)Percentage rate contract on S.O.R.
(b)Item rate contract.
(c) Lump- sum contract.
It is the subset of contract management.
The luck of the projects  closely relates to the contracts rightly prepared.
Contract management and contract administration are the integral parts of any projector business in general.
Contract administration is the active management of relationship between the client and the contractor .
Over the full term of the contract to achieve the agreed standards right from beginning to the completion of the contract.
For more information about it, contact 

Prof. J. S. Kushwah

(Retd. Executive Engineer - PWD MP)

Head, Civil Department

Vikrant College, Gwalior

Saturday, 22 April 2017


The dream of India becoming a super power aligned with countries such as the US, and neighbouring China, can be transformed to reality only with proper utilisation of its resources. Human resource is the best resources of any nation and for India; our rural populace can become the driving factor for development and industrialisation. Time has arrived to hone this asset and utilise it for the best.
70 % of India’s population still lives in rural villages. However, for all the amenities provided by urbanisation and modernisation, rural India can still teach urban India a thing or two about how to live a good life.
Rural India has immense potential to add an intriguing feature to manufacturing and export. India is famous for many unique items and products across the world. Numerous indigenous products of India have a prodigious value in international as well as in the domestic market. For instance, handicraft, hand loom and textiles, orchids, herbs and similar products have huge commercial viability in the global market. Industries associated with these products should be developed with bases in rural landscape throughout the nation. This will bring about a sharp breakthrough in indigenous industry and manufacturing of the nation and enable rural communities to become self-dependent with economic empowerment. Furthermore, industries such as tourism have enormous prospects in a country such as India.

The main objective of rural development has been to remove poverty of the people and fill the widened gap between the rich and the poor. This has been also vocalised in the policy of the government which says: said, ‘Rural poverty alleviation has been the primary concern in the economic planning and development process of the country rural development which encompasses the entire gamut of improvement in the overall quality of life in the rural areas can be achieved through eradication of poverty in rural areas.’

Prepared by Dr Anu Parmar 

Thursday, 20 April 2017

Student Orientation tips for better study

Starting studyagain after you’ve been away from study for a period of time can have its challenges, one of which is often self doubt – do we still remember how to study? can we write fast enough to take notes in lectures? do we have what it takes? are we really intelligent enough? BUT, studying as a mature student has distinct advantages. Mature students often do better than younger ones, they know what they want to study, they’re here because they want to be here, and they bring a wealth of life experience to their study. Most lecturers really enjoy their mature age students because they’re committed to study, to doing the best they can, and making the most of the opportunity.
        ·You are embarking on a new venture. Give yourself time to familiarise yourself with the university or college, how it works and what is expected of you as a student.
     ·It takes time to develop the necessary academic skills. Become familiar with the Academic Skills Office website If you are having academic difficulties contact your First Year Advisory.
     ·Have realistic expectations for your first semester assignment results and don’t set the bar too high.
     ·Recognise your limits, prioritise, and ask for help when needed. If you are unsure whom to ask, contact the Student Support Team via email or via the Student Support helpline
·Set realistic and attainable goals.

Plan ahead
·Make weekly, monthly, and semester planners 
 Have a weekly timetable with all your lectures, practicals, tutorials and other commitments (including study time, meals, household tasks, relaxation time, etc) marked on it.
 ·Get a whiteboard to hang on your wall. Use it for to-do lists, noting down any ideas for assignments, reminders, etc.
 ·Make sure you know what information technology and communication requirements you need and be active in ensuring that you have the necessary skills.
·Become familiar with the online provisions.
·Make sure you have a study environment that is conducive to study; i.e., distraction free, with the necessary light, ventilation, desk, etc.

Get the balance right
     ·Allocate appropriate time for readings, revision and assessments for each unit. Allow approximately 10 hours for each unit of study.
·Allocate more time to assignments that are worth a greater percentage of the course.
      ·Get a healthy balance between your study and other significant aspects of your life. Map out how you will use your 168 hours each week (e.g., sleep = 56; study = 40; domestic = X; social = X; etc)

Use the library and computer labs
·They are a great place to do some work while you are on campus.

·Surround yourself with fun and interesting people so you’ll always have good conversation, second opinions, and different perspectives of the world.
·Make friends with other students in your course/ units; possibly meet them for coffee or lunch between lec- tures.  
·Put aside time to unwind with friends and family.
·Join a club or society, make time for your hobbies and interests. 
·Join a mailing list relevant to your interests, it’s a good way to stay in touch with what’s happening; e.g., unevents, Mature Students, Townies, etc. There may be other lists that interest you.

 ·Look after yourself. Get plenty of exercise, make time to relax and unwind, eat and sleep well, and have access to a good doctor, counsellor or masseur.
 · Returning to study means that you will be investing time and energy in your study, home routines change, and this can prove troublesome for partners, children and intimate friends who were used to being the primary focus of the student’s time and caring. Be prepared to discuss and negotiate areas of discontent. Communicate as much as possible about what is happening in your lives. Plan study timetables together and agree on times for recreation and fun.
 ·Believe in yourself. Have faith in your abilities, try your best and hope for the best.

Ask for help when you need it.

The longer you leave a problem, the bigger it can get. Tackling problems as soon as they arise can often solve them. No-one will know you need help unless you ask. Even if you think it’s a silly question, others may also have similar issues, and besides, it’s better to feel a bit silly for a few moments than to allow a problem to escalate.


Prepared By : Dr. Anu Parmar (First Year Coordinator)

Wednesday, 19 April 2017

Construction of Solar Cell

A photovoltaic cell is essentially p-n junction diode, but it is a little bit different from a simple p-n diodeIn the construction of the solar cell, a thin layer of p - type semiconductor is grown on a thick n - type semiconductor which is grown metal on sheet or glass substrate. We make few finger electrodes or metal contacts (silver paint is used for metal contact) on the top of the p - type semiconductor layer and at the bottom of the n - type layer for better conduction electric current. These finger electrodes do not block the light to reach the thin p - type layer. There is a junction just below the p - type layer. The entire cell shielded by the thin glass to protect the solar cell from any environmental hazards. The figure below showed the growth of CZTS solar cell in the thin film research lab (Physics Department Utah University Research Lab). Yellowish color layer shown in the image is n- type CdS semiconductor on which thin layer of p- type (CZTS) semiconductor ( black in color) were grown.


Physics of Solar Cells
When solar radiation incident the on the diode, the photons of light can easily diffuse into the junction, through very thin p-type layer. The photons of light having sufficient energy incident on the depletion layer and split the layer which is formed at the junction. Hence a large number of electron-hole pairs is created at the junction.These free electrons- holes pairs move to their respective side i.e. electrons moves towards n side and holes towards p side of the junction under the influence of barrier field. Once, these newly produced free electrons enter to the n-type side, cannot further cross the junction because of junction barrier field. Similarly, the newly created holes once enter to the p-type side cannot further cross the junction because of same barrier field of the junction. Thefore population of electrons becomes more in n-type side of the junction and population of holes becomes more in the p-type side of the junction, the p-n junction diode will behave like a small battery cell. A Potential difference or voltage is developed across the diode which is known as photovoltage. When small a small load or bulb connected across the junction, then current will start to flow through the load or bulb.

Thursday, 13 April 2017

Advance Retaining Walls for High Embankments

There are manyconstruction like underground tanks, Approaches of  Bridge structures and other high embankments , in which specific walls are used to support Soil Embankments , these specific walls are known as RETAINING WALLS. According to features these are classified as –
·                           Gravity retaining walls
·                              Cantilever
·                              Sheet pilling
·                                   Counterfort
·                                    Anchored etc.
Retaining walls face two problems :-
(a)    Overturning
(b)   Slipping
These problems occur  in CANTILEVER and COUNTERFORT retaining walls.

                                Normally up to 5m height , cantilever retaining walls are proposed for construction . Above this counterfort retaining walls are economical . But after  10 m height counterfort retaining walls also become uneconomical . So it becomes problematic  to retain these high embankments , in such cases instead of constructing two separate counterfort retaining walls , it would be economical to construct  RCC BOX type retaining walls. In this two counterfort retaining walls will be connected together to form a RCC  BOX by connecting vertical walls and transverse walls , these transverse walls will restrain the vertical walls from deflecting outside . Such RCC  BOX retaining walls will be very economical to the high embankments like approaches of bridges . The bottom raft will be one piece so it will provide relief to the bearing capacity of the soil also. 

By providing RCC BOX type retaining walls these problems are automatically solved . Since the RCC  BOX is one piece so overturning does not occur . The RCC BOX resting on raft , so the area is increased as such the slipping problems is also solved.   
Prepared By : Prof. J S Kushwah (HOD - CIVIL)

Science & Tech. in Ancient India

Science and Mathematics were highly developed during the ancient period in India. Ancient Indians contributed immensely to the knowledge in Mathematics as well as various branches of Science.

In Mathematics:-
You will be surprised to know that many theories of modern day mathematics were actually known to ancient Indians. Baudhayan was the first one ever to arrive at several concepts in Mathematics, which were later rediscovered by the western world. The value of pi was first calculated by him. As you know, pi is useful in calculating the area and circumference of a circle. Aryabhatta was a fifth century mathematician, astronomer, astrologer and physicist. He
was a pioneer in the field of mathematics. At the age of 23, he wrote Aryabhattiya, which is a summary of mathematics of his time. Aryabhatta showed that zero was not a numeral only but also a symbol and a concept. Discovery of zero enabled Aryabhatta to find out the exact distance between the earth and the moon. The discovery of zero also opened up a new dimension of negative numerals.

       In Science:-
            Kanad was a sixth century scientist of Vaisheshika School. His atomic theory can be a match to any modern atomic theory. According to Kanad, material universe is made up of kanas, (anu/atom) which cannot be seen through any human organ. These cannot be further subdivided. Varahamihira was another well known scientist of the ancient period in India. He lived in the Gupta period. Varahamihira made great contributions in the fields of hydrology, geology and ecology. He was one of the first scientists to claim that termites and plants could be the indicators of the presence of underground water. scientific knowledge was in a highly advanced stage in ancient India. In keeping with the times, Medical Science was also highly developed.

            In Ayurveda:-
Ayurveda is the indigenous system of medicine that was developed in Ancient India. The word Ayurveda literally means the science of good health and longevity of life. This ancient Indian system of medicine not only helps in treatment of diseases but also in finding the causes and symptoms of diseases. It is a guide for the healthy as well as the sick. It defines health as an
equilibrium in three doshas, and diseases as disturbance in these three doshas. While treating a disease with the help of herbal medicines, it aims at removing the cause of disease by striking at the roots. The main aim of ayurveda has been health and longevity. It is the oldest medical system of our planet. A treatise on Ayurveda, Atreya Samhita, is the oldest medical book of the world. Charak is called the father of ayurvedic medicine and Susruta the father of surgery. Susruta, Charak, Madhava, Vagbhatta and Jeevak were noted ayurvedic practitioners. Do you know that Ayurveda has lately become very popular in the western world? This is because of its many advantages over the modern system of medicine called Allopathy, which is of western origin.

  In Yoga:-
The science of Yoga was developed in ancient India as an allied science of Ayurveda for
healing without medicine at the physical and mental level. The term Yoga has been derived from the Sanskrit work Yoktra. Its literal meaning is “yoking the mind to the inner self after detaching it from the outer subjects of senses”. Like all other sciences, it has its roots in the Vedas. It defines chitta i.e. dissolving thoughts, emotions and desires of a person’s consciousness and achieving a state of equilibrium. It sets in to motion the force that purifies and uplifts the consciousness to divine realization. Yoga is physical as well as mental. Physical yoga is called Hathyoga. Generally, it aims at removing a disease and restoring healthy condition to the body. Rajayoga is mental yoga. Its goal is self realization and liberation from bondage by achieving physical mental, emotional and spiritual balance.

Nothing is waste,Until its wasted,(Reduce,Reuse,Recycle)

Exhibition of newly inventedtechnologies by sheer waste things was commenced by BE-1ST Year Students. Models like Waste Theme Society, Projector, Vaccum Cleaner, Hair Drier,Study Table were few new inventions among 22 other models. Activity coordinator Dr. ANU PARMAR conducted this activity with help of faculty members of Science & Humanities.

Thali Decoration:-
Students of BE-1 Year have participated in  the competition of "Thali Decoration". Such activities make students energetic and enthusiastic for all our culture festival. Activity coordinator Dr. ANU PARMAR conducted this activity with help of faculty members of Science & Humanities.

Debate and Oath Ceremony:-
Students Of BE-1 Year have shown their wisdom and interest for the topic of celebration of Diwali with crakers or not, by giving participation on large scale. Activity Coordinator Dr. Anu Parmar along with all the students of VGI took oath for promoting uses of Indian product and be a part of swach bharat abhiyaan and promot our nation towards development.


Saturday, 25 March 2017

Free Training for ARMY recruitment

The VIKRANT GROUP OF INSTITUTIONS offers Integrated Bachelor Degrees. The courses offered are  B.COM , BBA , BCA , MBA with the specification of PGDCA and PGDM courses with scholarship schemes .As always the college continually strives to provide an accessible, affordable and high quality education to all Students offering any of its courses. The faculty attempt to provide innovative instruction in a climate of intellectual growth in a broad range of disciplines. The institution believes in Promotion of excellence in education and research by inculcating independent critical thought and scientific temper. Education with critical analysis of existing social hierarchies and construction of new models of sustainable development, equity and gender justice are taught with practical wisdom.Real world of business and business practices with utmost communication skills are a part of syllabi.