India’s position as the world’s largest talent supplier is under serious threat. According to leading manpower consulting firm Watson Wyatt, that slot may be taken over by China before long. In fact, China is projected to have twice as much skilled labour as India shortly - a fact that goes against the conventional wisdom that India’s abundance of skilled labour makes it ideal for outsourcing business processes.

The consulting firm gives three reasons for this: First, one of the main advantages India had vis-a-vis China is the much higher skill level among its women population. In fact, the percentage of skilled women living in urban areas at 14 per cent is close to that of skilled men at 16 per cent. The average annual growth rate in skilled women (7 per cent) is about 1.5 times higher than the growth rate in skilled men.

Yet, the irony is that Chinese women are much more likely to be in the workforce despite that country’s lower percentage of skilled women in the total population. This is because the workforce participation rate is twice as high for Chinese women as it is for Indian women.

Only 25 per cent of skilled Indian women participate in the labour market, exposing a major shortcoming of India’s talent pool. While Indian women represent 38 per cent of enrolment in higher education in 2004, the workforce participation rate for women remains very low, at about 18 per cent in urban areas.

The second reason is that China is pouring vast resources into education, and more Chinese young people are attending colleges and universities than ever before. Education is undergoing a massive transformation in that country where universities are building new facilities (30 new universities have come up in Nanjing alone in as many years). “Universities in China are coming up faster than hotels in Dubai,” Watson Wyatt says.

By 2010, 23 million students will be attending Chinese universities, one million of whom will be highly-skilled graduate students. That’s a remarkable progress from 6,00,000 such students in 1992 - a fact that prompted management guru Peter Drucker to remark that the greatest weakness of China is its incredibly small proportion of educated people. Not anymore.

By comparison, India’s education system is largely at a standstill, with the percentage of young university students hardly rising. India’s static enrolment, along with a similarly static investment of its gross domestic product into education, partially explains why China surpassed India’s 3.1 million annual college graduates three years ago.

Third, the most popular areas of study in Chinese universities also tend to be the most in demand, such as engineering, management and science. Most universities are also aggressively building global links through regular international conferences, foreign visiting professorships and collaborations on degree programmes.

Compare that with India. The quality of education in the country’s mushrooming private institutions continues to be a serious concern and the industry-academia linkages are growing only at a snail’s pace.

But all’s is not lost for India - yet. Watson Wyatt says there are essentially three areas where China has a lot of catching up to do with India.

For example, the immobility of labour in China. While there are no restrictions on mobility of talent in India, for some strange reasons, China still follows the “Hukou” system that discourages graduates and skilled or semi-skilled labour based in remote provinces from working in more developed areas. For example, a graduate from a second-tier city who wants to work in Shanghai will have to overcome considerable obstacles, including mobility restrictions. In general, employers are discouraged from hiring workers from other regions. As a consequence, many employers tend to hire mostly local graduates - a phenomenon that seriously compromises their search for the best talent.

The second area is the low proportion of Chinese students returning from study abroad. The study shows while the pace of Indian students returning home after higher studies abroad has been increasing due to better opportunities, it’s exactly the opposite in China. For example, in 2004, almost 24,750 students returned to China after graduating abroad, while around 1,14,700 left the country that same year.

And finally, poor English skills will continue to be one the biggest obstacles to China’s becoming the premier offshoring location for MNCs. If you take the mean scores of the Test of English as a Foreign Language, China’s results are lower than India’s in all subjects (although higher than worldwide averages), especially in listening comprehension.

These relatively low scores may be because Chinese students begin to study English later than students in India. Also, teachers and students focus more on exams than on assimilation of the language and far more attention is paid to reading and writing English than to speaking and listening.

(Source: Rediff.com/money)

The next time you wear high heels to look taller, just give a second thought — the fancy footwear could cause permanent damage to you. 

According to the study, teetering around in several inches of heel not only hurts the feet, but causes accidents. In fact, prolonged use can injure the knees and back, and the risk is more in case of teenagers.

Researchers examined 1,000 women and found that one in ten women now wear high heels three days a week and over a third of women have fallen while wearing them, the British newspaper The Daily Telegraph reported.

Currently, teenagers are 50 times more likely to have hip trouble than their mothers, while the number of girls suffering from back problems has also increased ten fold in the last generation, the study revealed.

Podiatrists have long criticised high heels, warning women that they cause permanent damage. Common complaints from women who regularly wear them include heel pain and calluses.

Such restrictive footwear can also cause bunions, ingrown toenails, nerve problems, stress fractures and ‘hammertoes’ — a permanent bend in the middle joint of a toe.

But the study concluded that flat pumps, popularised by model Kate Moss [Images] and singer Amy Winehouse, were equally problematic because they offer no support at all.

(Source: Rediff.com/getahead)

We want to invest interest gained on National Saving Certificates in REC or NHA bonds. Can we get benefit under Sec. 54-EC ? Babu hai Choudhari , Ahmedabad

I sold my plot in Dec2007 and got Long Term Capital Gain of about Rs.7.6 Lacs. Currently there is no TAX Saving Bonds Scheme available from NABARD, REC & NHAI where this amount can be invested to save tax? VK Gupta- Sonipat

The readers who have earned long term capital gains on any asset and were waiting for the bonds in the market for claiming exemption u/s 54EC should rejoice as the Rural Electrification Corporation Ltd has come to market for subscription of its Capital Gains Tax Exemption Bonds - Series-VIII which opened on 28th May 2008 .Further details can be from the links provided below
Issue Highlights of 54EC Bonds - Series VIII Information Memorandum of 54EC Bonds - Series VIII Application Form of 54 EC Bonds - Series VIII (SAMPLE) (Application Form can be downloaded from the website : http://rec.rcmcdelhi.com)
Have you read ?
Interest on REC Bond Is Taxable Yearwise!

‘Switch to Murli’s oven to save yourself from the heat of price rise’ — this was Jaspal Bhatti’s clear message to Petroleum Minister Murli Deora. Bhatti, president of Nonsense Club, launched the ‘Murli Mobile Tandoor’ on Thursday.

Ridiculing the price rise, Bhatti said: “We have full sympathy with the government which had no other option but to increase the diesel and LPG prices. But before hiking the gas prices, the Petroleum Ministry could have launched Murli Mobile Tandoors to help people make rotis.”

Bhatti’s wife Savita, along with couple of other ladies, pedaled the tandoor (earthen oven) which they called ‘Murali Mobile Tandoor’ from door-to-door while Bhatti escorted the tandoor on horseback.

He demanded that special horse lanes be made now and traffic police should train its staff to control the horse and donkey traffic. He further added that there should be special parking lots for horses and government officers should be given special horse-conveyance allowance.

Bhatti thanked all the successive governments who from time-to-time had done their best to make fuel a rare commodity. “In this way, it is out of reach of the common man and in fact would make us more environment-friendly with everybody travelling on horseback.”

After restructuring of HSEB, the HVPNL looks after transmission business in Haryana with 8350 MVA transformation capacity in 66KV and above voltage level. The UHBVN AND DHBVN

are the two public sector Distribution Companies, who are serving 42 lac consumers of different categories whereas the HPGCL is a Power Generating Organization of Government of

Haryana having presently 1587 MW installed generation capacity and has undertaken ambitious growth plan at 600 MW during 2007-08 and around 2500 MW Power Generation capacity

in the next 4 years. The Power Sector in the State is poised to grow at an annual rate of 14% in the next 5 years.

FOR A BRIGHT AND SECURE FUTURE!

GREAT JOB OPPORTUNITY FOR YOUNG GRADUATE ENGINEERS IN

HARYANA POWER UTILITIES

Advertisement No. CRA-167 Dated : 27-05-2008

After restructuring of HSEB, the HVPNL looks after transmission business in Haryana with 8350 MVA transformation capacity in 66KV and above voltage level. The UHBVN AND DHBVN

are the two public sector Distribution Companies, who are serving 42 lac consumers of different categories whereas the HPGCL is a Power Generating Organization of Government of

Haryana having presently 1587 MW installed generation capacity and has undertaken ambitious growth plan at 600 MW during 2007-08 and around 2500 MW Power Generation capacity

in the next 4 years. The Power Sector in the State is poised to grow at an annual rate of 14% in the next 5 years.

Haryana Power Utilities (HPUs) invite applications for 389 No. posts of Assistant Engineers/Electrical & Civil as per details given below:

Between 20 to 40 years as on 1.1.2008. In the case of employee of

HVPNL/UHBVNL/DHBVNL/HPGCL, age limit is relaxable to the extent of service

rendered by them in these Nigams. The upper age is relaxable by 5 years for Scheduled

Castes/ST & Backward Class/Economically Backward Class candidates of Haryana

Domicile only. Upper age is also relaxable in case of Ex-Serviceman to the extent of

Military Service rendered by them by adding 3 years subject to possessing the requisite

certificate.

4

. On selection as Assistant Engineer/Electrical or Assistant Engineer/Civil, the candidates

will be put on training for one year.

5. Candidate to give their order of preference of the Nigam i.e. HVPNL or UHBVNL or

DHBVNL or HPGCL.

6. Candidates three times the number of posts shall be called for the interview on the basis

of criteria fixed by the Haryana Power Utilities based on qualifications and experience.

7. The candidates who have already applied against Advertisement No. CRA-164

dated 27.02.2007 and CRA-01/2007/UHBVNL dated 23.02.2007 need not apply

again. Their applications will now be considered with the fresh applications being

called for.

1. PRESENT PAY SCALE Rs. 8000-275-10200-EB-275-13500

2. ESSENTIAL QUALIFICATION

For Assistant Engineer (Electrical)

The candidate should have obtained Bachelor of Engineering Degree or equivalent from

any Indian/Foreign University /Institute dully recognized by All India Council of Technical

Education with a minimum of 60% marks in respect of General Category candidates and

55% marks for Scheduled Caste candidates in any one the following disciplines :-

A. Electrical/ Electrical and Electronics Engineering,

B. Must have passed Hindi/ Sanskrit up to Matric standard.

C. Should have undertaken at least, one year Diploma course in computer from any

Institution recognized by the Govt. of Haryana. However, one year Diploma course

qualification is not required in case, candidates have computer subject in their

Degree course.

For Assistant Engineer (Civil)

The candidate should have obtained Bachelor of Engineering Degree or equivalent from

any Indian/Foreign University /Institute dully recognized by All India Council of Technical

Education with a minimum of 60% marks in respect of General Category candidates and

55% marks for Scheduled Caste candidates in any one the following disciplines :-

A. Bachelor of Engineering Degree in Civil Engineering or equivalent.

B. Must have passed Hindi/ Sanskrit up to Matric standard.

C. All the candidates should have working knowledge of computer and exposure on

common software applications including networking.

8. The experience of those candidates will be counted who have worked in the companies

with a minimum turnover of Rs.10.00 Crores.

9. HOW TO APPLY

Applications have to be made in prescribed format. Application form can be

downloaded from our website www.hvpn.gov.in or www.dhbvn.com or

www.uhbvn.com or www.hpgcl.org or www.haryana.gov.in or obtained from the

office of SE/Transmission Circles, HVPNL, SE/Operation Circles, UHBVNL/DHBVNL

in Haryana and CE/Thermal, Panipat/Faridabad.

10. APPLICATION FEE

Rs. 500/- (Non-refundable) for General category and Rs. 250/- (Non-refundable) for

SC/ST/BC/Economically Backward Class category candidates of Haryana Domicile only

in the shape of IPOs, BA-16 from HVPNL and Demand Draft in favour of AO/Cash,

HVPNL, Panchkula. Only Ex-serviceman who joined Military Service during Emergency

are exempted from the payment of application fee.

11. Application complete in all respects should reach the office S.E./Administration-I (Room

No.230), HVPNL, Shakti Bhawan, Sector-6, Panchkula latest by 30-06-2008 upto 5.00

P.M. through Regd. Post/Speed Post or in person. The candidate should specify the

Advertisement No. and the Post applied for on the top of the envelope. However, it is

made clear that any postal delay or delay in any way in submission of form by the

due date shall be the responsibility of the candidate. No application received after

the due date and time shall be entertained in any case.

12. LAST DATE OF RECEIPT APPLICATION : 30-06-2008 upto 5.00 PM.

Superintending Engineering/Administration-I

HVPNL, Shakti Bhawan, Sector 6, Panchkula.

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Dear Friends,
Here i m presenting a very valuable list of 1,853 most difficult words
that can give you an edge over others for your success in CAT. This is my gift to you
with my best wises for your big success in CAT and in life.
How to Use This
The words are given in bold. The meaning is given after the equal sign (=)
following a word. We have used the US spellings. The British spelling of a word,
when different from the US spelling, is given in bracket after BRITISH as shown for
the word belabor below.
belabor (BRITISH = belabour) = to assail verbally, to insist repeatedly or harp on

amphitheater (BRITISH = amphitheatre) = oval-shaped theater
anathema = curse, ban
annul = cancel, nullify
anodyne = pain soothing
anoint = consecrate, to apply oil, especially as a sacred rite
anonymity = state of being anonymous, having no name
antediluvian = ancient, obsolete, pre historic
antithesis = direct opposite
apathetic = unconcerned, indifferent
aphasia = inability to speak or use words
aphorism = maxim, old saying
aplomb = poise, confidence
apocryphal = a doubtful authenticity, not genuine, fictional
apostate = one who abandons one’s faith
apotheosis = Deification, glorification
approbation = praise, official approval
archaic = Antiquated, from an earlier time
archipelago = group of islands
ardor (BRITISH = ardour) = great emotion or passion
arraign = indict, to call to court to answer a charge
arrogate = seize without right, to demand or claim arrogantly
ascendancy = powerful state
ascribe = to attribute
ashen = resembling ashes, or deathly pale
asinine = stupid
askance = to view with suspicion, scornfully
askew = crooked, tilted
aspersion = slander, false rumor, damaging report
assail = attack
assent = to express agreement
assiduous = hard-working, diligent, persistent
assuage = lessen (pain), to make less severe, ease
astringent = causing contraction, severe, harsh
asunder = apart, into different parts
atone = make amends for a wrong
august = noble, dignified, awe-inspiring, venerable
avow = declare
awry = crooked, askew, amiss
axiom = self-evident truth, premise, postulate

Here is the second part of CAT word list. If you have missed the first part…go to http://girdher.wordpress.com/2008/05/01/most-common-and-difficult-words-for-cat-1/

bacchanal = orgy, drunkenly festive

baleful = hostile, malignant, harmful with evil intentions

balk = hesitate, refuse, shirk, prevent

banal = trite, overly common

bane = poison, nuisance, something causing ruin

bastion = fort, fortification, stronghold

beguile = deceive, seduce, mislead

behemoth = monster, huge creature

beleaguer = besiege, to harass, plague

berate = to scold harshly

bestial = beast-like, brutal

bestow = to give as a gift, grant

bevy = group

bicker = quarrel, to have a petty argument

bilious = ill-tempered

bilk = swindle, cheat, defraud

blandish = to coax with flattering, grovel

blight = decay, afflict, destroy

blithe = Joyful, cheerful, or without appropriate thought

bombast = pompous speech

bourgeois = middle class

broach = bring up a topic of conversation

brusque = curt, rough and abrupt in manner

bulwark = fortification

burgeon = sprout or flourish

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Over 210,000 executives in estimated 240 central public sector undertakings are in for a bonanza with a pay revision committee recommending a massive hike in their annual cost-to-company. The hike ranges between 379 per cent at the highest level and 57 per cent at the lowest across companies and levels.

This is assuming the maximum possible payout an executive can get. The award, if accepted, would mean that government servants, particularly defence personnel, would be paid far less in comparison even if one takes into account the recent hike recommended by the Sixth Pay Commission.

The second PSU pay revision committee, headed by former Supreme Court Justice M Jagannadha Rao, submitted its recommendations on Friday to Minister of Heavy Industries and Public Enterprises Sontosh Mohan Dev.

“We are giving more authority to the companies. They can earn more profit and can share it with their employees,” he said. The report has been sent to the Prime Minister’s Office and the finance ministry. After it is examined, a final proposal will be put up for Cabinet approval. The process could take three-six months.

Shorn of variable components like risk pay and performance-related pay, the effective pay hike works out to between 25 per cent and 40 per cent, according to SM Dewan, director general, Standing Conference of Public Enterprises. “This is a paradigm shift in the government’s thinking on running a business enterprise. It does not put us on a par with private sector companies, but it is a very good beginning,” he added.

The revised salary structure is proposed to come into effect from January 1, 2007.

The proposed pay structure seeks to reduce the disparity between public sector executives and their private sector counterparts and introduce a performance-based compensation culture.

In another far-reaching recommendation, the award calls for complete delinking of public sector and government pay scales. PSU employees are proposed to get much more than government officials.

For instance, the chairman and managing director of a company like ONGC ,NTPC or Bharat Sanchar Nigam Ltd is proposed to be paid Rs 52.20 lakh a year, much more than the annual compensation of Rs 15 lakh (inclusive of all allowances and perks) that a secretary in the central government will get if the Sixth Pay Commission award is implemented in toto.

On a strictly fixed-pay basis, a public sector chairman and director will get Rs 1.25 lakh a month in category A and Rs 65,000 a month in category D companies. In comparison, a government secretary will be paid a fixed Rs 80,000, while the cabinet secretary will be paid Rs 90,000 a month.

The report also recommends that central PSUs be categorised into five (A +, A, B, C, D) based on turnover, manpower and geographical spread.

“We want total delinking of PSUs from the government as we want them to become profitable and strong,” said Board for Reconstruction of Public Sector Enterprises Chairman Nitish Sengupta, who was a member of the committee.

The pay will be split into two components, basic pay and risk pay, with the latter depending on categorisation, profitability and the executive’s grade. Loss-making firms will not be required to shell out risk pay.

Pay panel’s other recommendations

• Employee stock options, linked to performance pay
• Performance-related payout amounting to 40-200 per cent of basic pay
• Risk pay of Rs 1,100 to Rs 25,000 per month
• New pay scale of Rs 65,000 - 75,000 of E-10 in A+ companies
• Sick companies to be allowed pay revision (without risk pay or variable pay) if they make cash profit
• Central PSUs not making cash profits to be examined by the Board for Reconstruction of Public Sector Enterprises
• CMDs and directors of sick central PSUs which have seen a turnaround will retire at 60
• No upper limit on gratuity
• Separate fund for post-retirement medical treatment and to meet emergency needs of those who have retired
• Revision of pay for non-unionised supervisors to be decided by board of directors
• Retirement benefit of 30 per cent of basic pay, which includes CPF, pension, gratuity and post-retirement medical benefits