Some off beat reads for the weekend:
The real roots of midlife crisis (Atlantic)
The curious world of online classifieds (Open)
Then BJP entered the Kashmir Valley (Outlook)
The gallant Dogra (IDR)
The Cosby show:Is Bill Cosby a rapist? (Atlantic)
Mobile payment startup Venmo is killing cash (BusinessWeek)
Islamic State’s gradual expansion into Africa (DerSpiegel)
Hell is other people (GQ)
In Pictures:Rajnath Singh doing things (UnrealTimes)
India’s Economic Hotspots (ProjectSyndicate)
Mumbai slums comes to London stage (Economist)
Ambala to Moscow (Dawn)
Gabbar Singh-A fat lazy lout-Sholay-Reassessed (JaiArjun)
The voice of God Sachin and his silences (Great Bong)
A long watch but well worth your time
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the launch of Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) with components (i) to separate agriculture and non agriculture feeders facilitating judicious rostering of supply to agricultural and non-agricultural consumers in rural areas and (ii) strengthening and augmentation of sub transmission and distribution infrastructure in rural areas, including metering of distribution transformers/feeders/consumers.
The estimated cost of the scheme for above two components is Rs.43,033 crore which includes the requirement of budgetary support of Rs.33,453 crore from Government of India over the entire implementation period.
The Cabinet further approved, that the balance work relating to rural electrification as per CCEA’s approval in August, 2013 with the norms of the ongoing scheme of RGGVY in 12th and 13th Plans will get subsumed in DDUGJY as a distinct component for rural electrification, for which CCEA has already approved the scheme cost of Rs.39,275 crore including budgetary support of Rs.35,447 crore. This outlay will be carried forward to the new scheme of DDUGJY in addition to the outlay of Rs.43,033 crore.
The scheme would help in:
(i) Improvement in hours of power supply in rural areas,
(ii) Reduction in peak load,
(iii) Improvement in billed energy based on metered consumption and
(iv) Providing access to electricity to rural households.
The process of sanction of projects shall commence immediately. After sanction of projects, contracts for execution of projects will be awarded by States Discoms / Power Departments. The projects shall be completed within 24 months from date of award.
Some stuff I am reading today morning:
Kotak to acquire ING Vysya Bank in all cash deal (Mint)
India Inc should get off Rajan’s back (FirstBiz)
Modi races for 1.2 Billion fingerprints (Bloomberg)
13 awesome ideas to make extra income other than your job (JagoInvestor)
Comparison of KVP,NSC,PPF and Bank FDs (BasuNivesh)
How to rebalance your portfolio (HumbleStudent)
Research:Earnings Seasonality and Stock Returns (Alpha Architect)
Not everyone sucks at investing (Philosophical Economics)
Gold:Its time to buy (Barrons)
Destroying the myth of the intermediate term investor (BCLund)