Regulatory Frameworks of Indias Industrial Policies

Regulatory Frameworks of Indias Industrial Policies CHAPTER 3 THE REGULATORY FRAMEWORK 3.1 INTRODUCTION: THE PARADIGM SHIFT The industrial policy pursued in India for the first four decades after independence was based on the socialist school of thought that India embraced, partly to alienate itself from the colonial past and more so owing to the obvious achievements of the socialist movement in the post world-war two period. Thus, through a Resolution dated April 6, 1948 the government set out the policy to be pursued in the Industrial field, wherein to secure continuous increase in production and equitable distribution, the country opted for a centrally planned development strategy, with the state playing a major role. For this purpose, the National Planning Commission was established for planning, co-ordination, integration of national economic activity and to formulate programmes of development and to secure their execution. On October 30, 1956, at the beginning of the Second Five Year Plan, the Government adopted a New Industrial Policy Resolution, which reiterated the above objective and classified industries into three categories as follows: Schedule A were those industries whose future development was the exclusive responsibility of the state. Schedule B consisted of industries which would be progressively state-owned, wherein the state would take initiative in establishing new undertakings and private enterprise would be expected to supplement the effort of the state. Schedule C included all remaining industries whose further development was left to the initiative and enterprise of the private sector. This led to the expansion of the public sector in India, whose share in GDP increased from 9.91% in 1960-61 to 27.12% in 1988-89. However, the cause of concern was that a large number of public sector enterprises particularly the Non-departmental non-financial enterprises were making losses and had to be subsidized. Industrial undertakings in the private sector were subject to control and regulation like the Industries Development and Regulation (IDR) Act (1951) and were expected to align their business strategy and goals with the broad economic and social objectives of the State. The IDR vested with the government necessary powers to regulate and control existing and future undertakings in a number of specified industries. A license was necessary for establishing a new undertaking, taking up the manufacture of a new article in an existing unit, effecting substantial expansion, carrying on the business of an existing undertaking and changing the location of an existing unit. A Letter of Intent (LOI) was issued for sectors/activities under compulsory license under the IDR Act, 1951. The LOI was converted into Industrial License on completion of specified formalities. Further, to prevent monopolies and concentration of economic power in the hands of private sector, in 1969, the Monopoly and Restrictive Trade Practices Act (MRTP) was enacted. All these regulations and controls led to increase in bureaucracy, inhibiting enterprise and industry. Also, given the state of the economy with limited resources, scarce capital and vast population base, the development ideology revolved around the notion of conservation and optimum utilization of capital so as to maximize employment (and not necessarily output). Deployment of new capital was strictly controlled and regulated so as to meet social needs and maximize employment. Further, once the capital was committed to any activity and a certain employment was created, it was protected at any cost even if it was non-viable in the face of market forces. Labour intensive technology and employment generation were also the rationale behind the initial advocacy of small-scale industry. However, later, when it was realized that modern small scale industry was not necessarily labour intensive, the argument turned to encouraging the entry of new entrepreneurs in industry. A range of products were reserved for exclusive production in the small-scale sector, eliminating potential competition from medium and large firms. There were no pressures on the smaller firms to improve technology, update production techniques or reduce cost modernize or specialize. There was an inherent disincentive to grow beyond a certain size, if they had to continue production of a reserved product. Thus economies of scale could not be leveraged and market distortions were widespread. Until 1991, the guiding principle of Indias industrial policy was self reliance, which focused on indigenous production and reduced dependence on foreign capital and foreign technology irrespective of the cost and/or quality. This did lead to the creation of a large industrial base, diversification of products, ownership and location. But in the absence of domestic competition, export rivalry and competition of imports, industry grew with a lack of cost and quality consciousness, leading to slow growth, increasing deficits and debt and finally the crisis in 1991 which paved the way for economic reforms in India. Some of the components of the reform package include: Reforms in Industrial Policies in terms of delicensing of most industries and deregulation of industries earlier monopolized by the public sector Liberalisation of foreign trade through steady reduction in tariffs and freeing up of the foreign investment limits in most industries combined with measures to attract FDI into the country Macroeconomic stabilization through substantial reduction in fiscal deficits and governments draft on the private sectors savings Other reforms including those in taxation, financial sector, insurance sector, public sector, etc. During the last decade and half, these reforms have reoriented India from a slow-paced, centrally directed and highly controlled economy to a strong, vibrant, fast-growing and market-friendly one. There now exists an internationally competitive private sector with varied scope for collaborations and joint ventures and a facilitating regulatory framework that is evolving to match the international standards. This Chapter seeks to give an overview of the broad framework of regulations governing business in India particularly in the context of: Industrial Policy Foreign Investment Policy Anti Trust Regulations Labour Laws Protection of Intellectual Property Rights Other Economic Laws Procedures 3.2 INDUSTRIAL POLICY The Industrial Policy Resolution 1956, substantially augmented through the Statement of Industrial Policy 1991 and subsequent announcements which liberalized the economy provides the basic framework for the overall industrial policy of the Government of India. 3.2.1 Industrial Licensing The requirement of obtaining an industrial license for manufacturing has been abolished for all projects except for a short list of industries connected with security and strategic concerns (reserved for public sector), social reasons, hazardous chemicals and overriding environmental concerns. The list of items requiring compulsory licensing is reviewed on an ongoing basis. The stage of LOI has been dispensed with for all sectors/activities except for items reserved for SSI sector and an Industrial License is now issued without going through the stage of LOI. The following industries require compulsory license:- Alcoholics drinks Cigarettes and tobacco products Electronic, aerospace and defense equipment Explosives Hazardous chemicals such as hydrocyanic acid, phosgene, isocynates and di-isocynates of hydro carbon and derivatives, etc. Non-small-scale industrial units or units in which foreign equity is more than 24% require license to manufacture items reserved from small scale sector. All other industries are exempt from licensing and no industrial approval is required. Entrepreneurs are only required to file an Industrial Entrepreneurs Memorandum (IEM) with the Secretariat for Industrial Assistance (SIA), providing information on new projects and substantial expansions. There are however, certain locational restrictions in metropolitan areas. No industrial approval is required from the Government for locations outside 25 kms of the periphery of cities having a population of more than one million except for those industries where industrial licensing is compulsory. Non-polluting industries such as electronics, computer software and printing can be located within 25 kms of the periphery of cities with more than one million population. Permission to other industries is granted in such locations only if they are located in an industrial area so designated prior to 1991. Zoning and Land Use Regulations as well as Environmental Legislations have to be followed. Appropriate incentives and investments in enabling infrastructure are provided to promote dispersal of industry particularly to the rural and backward areas and to reduce congestion in cities. Recently, the Government approved a package of fiscal incentives and other concessions for the North East Region namely the North East Industrial and Investment Promotion Policy (NEIIPP), 2007, effective from 1.4.2007. Also, under the broad framework of the national industrial policy, different Indian States announce their respective Industrial Policies periodically, which highlight the areas in which the State would focus on and provide incentives to attract investment, the various sector location specific schemes offered to private investors, the plans for development of enabling infrastructure, opportunities for public-private-partnership, etc. 3.2.2 Policies for Privatisation The post 1991 liberalisation process brought with it deregulation of trade and industry, dismantling of bureaucratic controls, technological development and financial sector reforms. Privatising some of the activities which heretofore were the exclusive domain of public sector also became part of this initiative to boost enterprise and professional management of resources to enhance economic growth and competitiveness. Revolutionary policy measures were undertaken to encourage private participation in sectors like telecom, information broadcasting, power, ports, airports, banking, etc. Over the years, the government has reduced the number of industries reserved for the public sector to the two which are deemed significant from security and strategic perspective, viz., Atomic energy and Railways. However, in the last few years the railways announced opening up of its containerized operations to other private and public sector companies, thereby ending the monopoly enjoyed by the Container Corporation of India (CONCOR). Interested companies could avail of the route-specific or all-India permission by paying a registration fee which is valid for an operation period of 20 years (further extendable by 10 years). There is freedom to decide the tariffs to be charged to the customers for various services and also the exit norms involve transfer of the operational writes to another eligible operator with the railway approval. 3.2.3 Policies for Small Scale Sector The provisions in the Industrial Policy Statement of 1991 and the subsequent policies are aimed at supporting the Small Scale Industries (SSI) sector though various measures and packages focusing not only on policy of reservation but also on price and purchase preference policy for marketing SSI products, credit and fiscal support to SSIs, support for cluster based development, technology upgradation, etc. The IDR Act 1951 provided for the reservation of items for exclusive manufacture in SSI sector primarily with the objectives of increasing production of consumer goods in the small scale sector and widening of employment opportunities. In 1967, 47 items were reserved for exclusive manufacture in the small scale sector. This number was increased to 836 items in 1989. However, since 1997, a large number of items were dereserved from the list in the phased manner. As of March 2007, only 114 items are reserved for exclusive manufacture in the small scale sector. In addition to the policy of reservation, the Government has initiated various measures offering support for Cluster based Development, Technologies and Quality Upgradation, Marketing, Entrepreneurial and Managerial Development and Schemes for Empowerment of Women Owned Enterprises. Further, with a view to facilitate the development of micro, small and medium enterprises (MSME), the Micro, Small and Medium Enterprises Act 2006, was implemented. The Act provides the new classification of each category of enterprises. As per the Act, MSME are defined as follows: in the case of the enterprise engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the IDR Act 1951 a micro enterprise is the one where the investment in plant and machinery does not exceed twenty five lakh rupees. a small enterprise is one where the investment in plant and machinery is more than twenty five lakh rupees but does not exceed five crore rupees; or a medium enterprise is one in which the investment in plant and machinery is more than five crore rupees but does not exceed ten crore rupees; in the case of enterprises engaged in providing or rendering of services a micro enterprise is one where the investment in equipment does not exceed ten lakh rupees; a small enterprise is one in which the investment in equipment is more than ten lakh rupees but does not exceed two crore rupees; or a medium enterprise is where the investment in equipment is more than two crore rupees but does not exceed five crore rupees In February 2007, the Government announced a package for promotion of the SSI sector as follows: Credit Support: The package aims at increasing the number of beneficiaries of the credit provided by the Small Industries Development Bank of India (SIDBI) by 50 lakhs, over five years beginning from 2006-07. For this purpose, the Government has provided grant to SIDBI to augment its Portfolio Risk Fund. Besides, in an attempt to increase demand-based small loans to micro enterprise, the Government announced a provision of grant to SIDBI to create a Risk Capital Fund (as a pilot scheme in 2006-07). The eligible loan limit under the Credit Guarantee Fund Scheme has been raised to Rs. 50 lakh. The credit guarantee cover has also been raised from 75% to 80% for micro enterprises for loans upto Rs. 5 lakhs. Fiscal support: The Government has increased the General Excise Exemption (GEE) limit from Rs. 100 lakh to Rs. 150 lakhs since April 2007. It further proposes to examine the eligibility of extending the time limit for payment of excise duty by micro and small enterprises; and extending the GEE benefits to small enterprises on their graduation to medium enterprises for a limited period. 3.3 FOREIGN INVESTMENT POLICY In recognition of the importance of of foreign direct investment as an instrument of technology transfer, augmentation of foreign exchange reserves and globalization of the Indian economy, the Government of India revamped its foreign investment policy as part of the reform process. 3.3.1 Foreign Direct Investment Foreign Direct Investment (FDI) regime in India was increasingly liberalized during 1990s (more particularly post 1996) and today India has the most liberal and transparent policies on FDI among the emerging economies, with restrictions on foreign investments being removed and procedures simplified. Some of the prominent features of the FDI policy in India are elucidated below: The approval mechanism for FDI has a two tier system. Under the automatic approval route, companies can issue shares and receive inward remittances for investment in areas identified and upto the limits of foreign equity prescribed, with a reporting requirement, within a period of 30 days. In these sectors, investment could be made without prior approval of the central government. Although, in case of the automatic route, it is no longer necessary to obtain the in principle permission from Reserve bank of India (RBI) before receiving overseas investment or for issuing shares to foreign investors, the company, would, however, have to make a report to the RBI within 30 days after issue of shares to the foreign investors. Proposals for investment in public sector units and also for Special Economic Zones (SEZs) / Export Oriented Units (EOUs)/ Export Processing Zones (EPZs) qualify for automatic approval subject to satisfaction of certain prescribed sector specific parameters. FDI upto 100% is permitted under the automatic route for setting up Industrial Parks. Proposals for FDI/NRI investment in Electronic Hardware Technology Park (EHTP) and Software Technology Park (STP) Units are eligible for approval under the automatic route, except for those requiring prior approval of the Central Government (as discussed below). FDI in sectors that are not covered under the automatic route requires prior approval of the Central Government. Activities/sectors require prior approval of the Government for FDI in the following circumstances:- Activities/items that require an industrial license Proposals in which the foreign collaborator has an existing financial/technical collaboration in India in the same field (except in IT and mining sector) All proposals falling outside notified sectoral policy/CAPS Proposals in which more than 24% foreign equity is proposed to be inducted for manufacture of items reserved for the Small Scale Sector The approval is granted by Foreign Investment Promotion Board (FIPB), which is a specially empowered board set up for the purpose, chaired by the Secretary, Union Ministry of Finance. Proposals for FDI could be sent to the FIPB Unit, Department of Economic Affairs, Ministry of Finance or through any of Indias diplomatic missions abroad. FIPB has the flexibility to examine all proposals in totality, free from predetermined parameters. Recommendations of FIPB regarding all proposals falling in the non-automatic route and involving an investment of Rs.6 billion or less are considered and approved by the Finance Minister. Projects with investment greater than this value are submitted by the FIPB to the Cabinet Committee on Economic Affairs for approval. Necessary regulatory approvals from the state governments and local authorities for construction of building, water, environmental clearance, etc. need to be acquired after the grant of approval for FDI by FIPB or for the sectors falling under automatic route. Single window clearance facilities and investor escort services are available in various states to simplify the approval process for new ventures. Decisions on all foreign investments are usually taken within 30 days of submitting the application. In cases where original investment is made in convertible foreign exchange, free repatriation of capital investment and profits thereon is permitted. Sectors prohibited for FDI include: Retail trading (except Single Brand Product retailing) Atomic Energy Lottery Business Gambling and Betting 3.3.1.1 Investment in SEZs In order to enhance competitiveness of Indian exports and attract investment in these sectors, Indias Foreign Trade Policy promotes the setting up of SEZs and thus provides for a hassle-free environment with world-class institutional and physical infrastructure and supporting logistics. Some of the existing EPZs/FTZs have also been converted into SEZs. All the State Governments have been advised to give priority to waste and barren land for acquisition purposes. According to the total Waste Land area surveyed by the Ministry of Forest, 5,52,692.26 hectares was available for such purpose. FDI upto 100% is permitted under the automatic route for setting up of SEZ. Proposals not covered under automatic route require approval from FIPB. The policy provides for setting up of SEZ in the public, private or joint sectors or by state governments. These could be product specific or multi-product SEZs. Designated duty-free enclaves are treated as foreign territory for trade operations and duties and tariffs, and duty-free goods need to be utilised within the approved period. The permitted activities cover an array of manufacturing and services like production, processing, assembling, reconditioning, re-engineering, packaging, trading, etc. Proposals for setting up units in SEZ, other than those requiring industrial license are approved by the Development Commissioner (DC). The approval for those requiring industrial license is granted by the DC after receiving clearance from the Board of Approval. The Letter of Permission (LOP)/Letter of Intent (LOI) issued by the DC is construed as a license for all purposes, including procurement of raw material and consumables either directly or through a canalising agency. The LOP/LOI needs to specify the items of manufacture/service activity, annual capacity, projected annual export for the first year in dollar terms, Net Foreign Exchange Earnings (NFE), limitations, if any, regarding sale of finished goods, by products and rejects in the DTA and such other matter as may be necessary and also impose such conditions as may be required. According to the policy, SEZ units have to be positive net foreign exchange earners and the performance of these units would be monitored by a unit approval committee consisting of the DC and the Customs Authority. 3.3.2 Entry Options for Foreign Investors A foreign company has the option to set up business operations in India as an Incorporated Entity or as an Unincorporated Entity. An Incorporated Entity would be a company registered under Companies Act, 1956, through joint ventures or wholly owned subsidiaries. Foreign equity in such Indian companies can be up to 100% depending on the requirements of the investor, subject to any equity caps prescribed in respect of area of activities under the FDI policy. Funding could be via equity, debt (both foreign and local) and internal accruals. For registration and incorporation, an application has to be filed with the Registrar of Companies (ROC). Once a company has been duly registered and incorporated as an Indian company, it is subject to Indian laws and regulations as applicable to other domestic Indian companies. Companies in India can be incorporated as a private company or a public company. In comparison with branch and liaison offices (discussed subsequently), a subsidiary company provides maximum flexibility for conducting business in India. However, the exit procedure norms of such companies are relatively more cumbersome. An Unincorporated Entity could be Liaison Office/Representative Office or Project Office or Branch Office. Such offices can undertake activities permitted under the Foreign Exchange Management (Establishment in India of Branch Office of other place of business) Regulations, 2000. They are also governed by the Companies Act 1956, which contains special provisions for regulating such entities. 3.3.2.1 Liaison Office/Representative Office The role of a liaison office is primarily to: Collect information about the market Disseminate information about the company and its products to prospective Indian customers Promote exports/imports from/to India Facilitate technical collaboration between parent company and companies in India A liaison office cannot undertake any commercial activity directly or indirectly and cannot, therefore, earn any income in India. Approval for establishing a liaison office in India is granted by the RBI. 3.3.2.2 Project Office Foreign Companies planning to execute specific projects in India can set up temporary project/site offices in India. RBI has granted general permission to foreign entities to establish Project Offices subject to specified conditions. Such offices cannot undertake or carry on any activity other than the activity relating and incidental to execution of the project. Project Offices may remit outside India the surplus of the project on its completion, general permission for which has been granted by the RBI. Since a Project Office is an extension of the foreign incorporation in India, it is taxed at the rate applicable to foreign corporations. 3.3.2.3 Branch Office Foreign companies engaged in manufacturing and trading activities abroad are allowed to set up Branch Offices in India for the following purposes : Export/Import of goods Rendering professional or consultancy services Carrying out research work, in which the parent company is engaged. Promoting technical or financial collaborations between Indian companies and parent or overseas group company Representing the parent company in India and acting as buying/ selling agents in India Rendering services in Information Technology and development of software in India Rendering technical support to the products supplied by the parent/ group companies Foreign airline/shipping company Branch Offices established with the approval of RBI, are allowed to remit outside India profit of the branch net of applicable taxes (which are at rates applicable to foreign companies) however, subject to RBI guidelines. Permission for setting up branch offices is granted by the RBI. Branch Offices could also be on stand alone basis in SEZ. Such Branch Offices would be isolated and restricted to the SEZ alone and no business activity/transaction would be allowed outside the SEZs in India, which include branches/subsidiaries of its parent office in India. No approval shall be necessary from RBI for a company to establish a branch/unit in SEZs to undertake manufacturing and service activities, subject to the conditions that: they function in sectors in which 100% FDI is permitted they comply with part XI of the Companys Act (Section 592 to 602) function on a stand alone basis in the event of winding up of business and for remittance of winding-up proceeds, the branch should approach an authorized dealer in foreign exchange in the with documents required as per FEMA. A Branch Office provides the advantage of ease in operations and an uncomplicated closure. However, since the operations are strictly regulated by exchange control guidelines, a Branch may not provide a foreign corporation with most optimum structure for its expansion/diversification plans. Box 3.1 Investment in a firm or a Proprietary Concern by NRIs A Non-Resident Indian or a Person of Indian Origin (PIO) resident outside India may invest by way of contribution to the capital of a firm or a proprietary concern in India on non-repatriation basis provided: i) Amount is invested by inward remittance or out of NRE/FCNR/NRO account maintained with Authorised Dealers of RBI (AD) ii) The firm or proprietary concern is not engaged in any agricultural/plantation or real estate business i.e. dealing in land and immovable property with a view to earning profit or earning income there from. iii) Amount invested shall not be eligible for repatriation outside India. NRIs/PIO may invest in sole proprietorship concerns/ partnership firms with repatriation benefits with the approval of Department of Economic Affairs, Government of India /RBI. Box 3.2 Investment in a firm or a Proprietary Concern by Other than NRIs No person resident outside India other than NRIs/PIO shall make any investment by way of contribution to the capital of a firm or a proprietorship concern or any association of persons in India. The RBI may, on an application made to it, permit a person resident outside India to make such investment subject to such terms and conditions as may be considered necessary. 3.3.3 Financing Options for Corporates Companies registered in India can raise finances through Share Capital or Debentures and Borrowings. 3.3.3.1 Share Capital The Companies Act, 1956 allows for two kinds of share capital, viz., Preference share capital (preferred stock) and Equity share capital (with/without voting rights). Apart from this, private companies which are not subsidiaries of public company have the option of raising funds through Venture Capital. The issue of shares to the public is governed by the guidelines issued by the Securities Exchange Board of India (SEBI) the body that regulates and oversees the functioning of Indian Stock markets and the RBI. A company issuing shares or debentures has to comply with SEBI disclosure requirements with regards to its prospectus. The prospectus has to be approved by the stock exchange and scrutinized by SEBI and then filed with the Registrar of Companies. Indian companies having foreign investment approval through FIPB route do not require any further clearance from RBI for receiving inward remittance and issue of shares to the foreign investors. The companies are required to notify the concerned Regional office of the RBI of receipt of inward remittances within 30 days of such receipt and within 30 days of issue of shares to the foreign investors or NRIs. Equity participation by international financial institutions such as ADB, IFC, CDC, DEG, etc., in domestic companies is permitted through automatic route, subject to SEBI/RBI regulations and sector specific cap on FDI. In all other cases a company may issue shares as per the RBI regulations. Other relevant guidelines of SEBI and RBI, including the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, wherever applicable, would need to be followed. The Companies Act does not specify the nominal value of shares. According to RBI/SEBI Guidelines, in case of listed companies, the issue price shall be either at the ave Regulatory Frameworks of Indias Industrial Policies Regulatory Frameworks of Indias Industrial Policies CHAPTER 3 THE REGULATORY FRAMEWORK 3.1 INTRODUCTION: THE PARADIGM SHIFT The industrial policy pursued in India for the first four decades after independence was based on the socialist school of thought that India embraced, partly to alienate itself from the colonial past and more so owing to the obvious achievements of the socialist movement in the post world-war two period. Thus, through a Resolution dated April 6, 1948 the government set out the policy to be pursued in the Industrial field, wherein to secure continuous increase in production and equitable distribution, the country opted for a centrally planned development strategy, with the state playing a major role. For this purpose, the National Planning Commission was established for planning, co-ordination, integration of national economic activity and to formulate programmes of development and to secure their execution. On October 30, 1956, at the beginning of the Second Five Year Plan, the Government adopted a New Industrial Policy Resolution, which reiterated the above objective and classified industries into three categories as follows: Schedule A were those industries whose future development was the exclusive responsibility of the state. Schedule B consisted of industries which would be progressively state-owned, wherein the state would take initiative in establishing new undertakings and private enterprise would be expected to supplement the effort of the state. Schedule C included all remaining industries whose further development was left to the initiative and enterprise of the private sector. This led to the expansion of the public sector in India, whose share in GDP increased from 9.91% in 1960-61 to 27.12% in 1988-89. However, the cause of concern was that a large number of public sector enterprises particularly the Non-departmental non-financial enterprises were making losses and had to be subsidized. Industrial undertakings in the private sector were subject to control and regulation like the Industries Development and Regulation (IDR) Act (1951) and were expected to align their business strategy and goals with the broad economic and social objectives of the State. The IDR vested with the government necessary powers to regulate and control existing and future undertakings in a number of specified industries. A license was necessary for establishing a new undertaking, taking up the manufacture of a new article in an existing unit, effecting substantial expansion, carrying on the business of an existing undertaking and changing the location of an existing unit. A Letter of Intent (LOI) was issued for sectors/activities under compulsory license under the IDR Act, 1951. The LOI was converted into Industrial License on completion of specified formalities. Further, to prevent monopolies and concentration of economic power in the hands of private sector, in 1969, the Monopoly and Restrictive Trade Practices Act (MRTP) was enacted. All these regulations and controls led to increase in bureaucracy, inhibiting enterprise and industry. Also, given the state of the economy with limited resources, scarce capital and vast population base, the development ideology revolved around the notion of conservation and optimum utilization of capital so as to maximize employment (and not necessarily output). Deployment of new capital was strictly controlled and regulated so as to meet social needs and maximize employment. Further, once the capital was committed to any activity and a certain employment was created, it was protected at any cost even if it was non-viable in the face of market forces. Labour intensive technology and employment generation were also the rationale behind the initial advocacy of small-scale industry. However, later, when it was realized that modern small scale industry was not necessarily labour intensive, the argument turned to encouraging the entry of new entrepreneurs in industry. A range of products were reserved for exclusive production in the small-scale sector, eliminating potential competition from medium and large firms. There were no pressures on the smaller firms to improve technology, update production techniques or reduce cost modernize or specialize. There was an inherent disincentive to grow beyond a certain size, if they had to continue production of a reserved product. Thus economies of scale could not be leveraged and market distortions were widespread. Until 1991, the guiding principle of Indias industrial policy was self reliance, which focused on indigenous production and reduced dependence on foreign capital and foreign technology irrespective of the cost and/or quality. This did lead to the creation of a large industrial base, diversification of products, ownership and location. But in the absence of domestic competition, export rivalry and competition of imports, industry grew with a lack of cost and quality consciousness, leading to slow growth, increasing deficits and debt and finally the crisis in 1991 which paved the way for economic reforms in India. Some of the components of the reform package include: Reforms in Industrial Policies in terms of delicensing of most industries and deregulation of industries earlier monopolized by the public sector Liberalisation of foreign trade through steady reduction in tariffs and freeing up of the foreign investment limits in most industries combined with measures to attract FDI into the country Macroeconomic stabilization through substantial reduction in fiscal deficits and governments draft on the private sectors savings Other reforms including those in taxation, financial sector, insurance sector, public sector, etc. During the last decade and half, these reforms have reoriented India from a slow-paced, centrally directed and highly controlled economy to a strong, vibrant, fast-growing and market-friendly one. There now exists an internationally competitive private sector with varied scope for collaborations and joint ventures and a facilitating regulatory framework that is evolving to match the international standards. This Chapter seeks to give an overview of the broad framework of regulations governing business in India particularly in the context of: Industrial Policy Foreign Investment Policy Anti Trust Regulations Labour Laws Protection of Intellectual Property Rights Other Economic Laws Procedures 3.2 INDUSTRIAL POLICY The Industrial Policy Resolution 1956, substantially augmented through the Statement of Industrial Policy 1991 and subsequent announcements which liberalized the economy provides the basic framework for the overall industrial policy of the Government of India. 3.2.1 Industrial Licensing The requirement of obtaining an industrial license for manufacturing has been abolished for all projects except for a short list of industries connected with security and strategic concerns (reserved for public sector), social reasons, hazardous chemicals and overriding environmental concerns. The list of items requiring compulsory licensing is reviewed on an ongoing basis. The stage of LOI has been dispensed with for all sectors/activities except for items reserved for SSI sector and an Industrial License is now issued without going through the stage of LOI. The following industries require compulsory license:- Alcoholics drinks Cigarettes and tobacco products Electronic, aerospace and defense equipment Explosives Hazardous chemicals such as hydrocyanic acid, phosgene, isocynates and di-isocynates of hydro carbon and derivatives, etc. Non-small-scale industrial units or units in which foreign equity is more than 24% require license to manufacture items reserved from small scale sector. All other industries are exempt from licensing and no industrial approval is required. Entrepreneurs are only required to file an Industrial Entrepreneurs Memorandum (IEM) with the Secretariat for Industrial Assistance (SIA), providing information on new projects and substantial expansions. There are however, certain locational restrictions in metropolitan areas. No industrial approval is required from the Government for locations outside 25 kms of the periphery of cities having a population of more than one million except for those industries where industrial licensing is compulsory. Non-polluting industries such as electronics, computer software and printing can be located within 25 kms of the periphery of cities with more than one million population. Permission to other industries is granted in such locations only if they are located in an industrial area so designated prior to 1991. Zoning and Land Use Regulations as well as Environmental Legislations have to be followed. Appropriate incentives and investments in enabling infrastructure are provided to promote dispersal of industry particularly to the rural and backward areas and to reduce congestion in cities. Recently, the Government approved a package of fiscal incentives and other concessions for the North East Region namely the North East Industrial and Investment Promotion Policy (NEIIPP), 2007, effective from 1.4.2007. Also, under the broad framework of the national industrial policy, different Indian States announce their respective Industrial Policies periodically, which highlight the areas in which the State would focus on and provide incentives to attract investment, the various sector location specific schemes offered to private investors, the plans for development of enabling infrastructure, opportunities for public-private-partnership, etc. 3.2.2 Policies for Privatisation The post 1991 liberalisation process brought with it deregulation of trade and industry, dismantling of bureaucratic controls, technological development and financial sector reforms. Privatising some of the activities which heretofore were the exclusive domain of public sector also became part of this initiative to boost enterprise and professional management of resources to enhance economic growth and competitiveness. Revolutionary policy measures were undertaken to encourage private participation in sectors like telecom, information broadcasting, power, ports, airports, banking, etc. Over the years, the government has reduced the number of industries reserved for the public sector to the two which are deemed significant from security and strategic perspective, viz., Atomic energy and Railways. However, in the last few years the railways announced opening up of its containerized operations to other private and public sector companies, thereby ending the monopoly enjoyed by the Container Corporation of India (CONCOR). Interested companies could avail of the route-specific or all-India permission by paying a registration fee which is valid for an operation period of 20 years (further extendable by 10 years). There is freedom to decide the tariffs to be charged to the customers for various services and also the exit norms involve transfer of the operational writes to another eligible operator with the railway approval. 3.2.3 Policies for Small Scale Sector The provisions in the Industrial Policy Statement of 1991 and the subsequent policies are aimed at supporting the Small Scale Industries (SSI) sector though various measures and packages focusing not only on policy of reservation but also on price and purchase preference policy for marketing SSI products, credit and fiscal support to SSIs, support for cluster based development, technology upgradation, etc. The IDR Act 1951 provided for the reservation of items for exclusive manufacture in SSI sector primarily with the objectives of increasing production of consumer goods in the small scale sector and widening of employment opportunities. In 1967, 47 items were reserved for exclusive manufacture in the small scale sector. This number was increased to 836 items in 1989. However, since 1997, a large number of items were dereserved from the list in the phased manner. As of March 2007, only 114 items are reserved for exclusive manufacture in the small scale sector. In addition to the policy of reservation, the Government has initiated various measures offering support for Cluster based Development, Technologies and Quality Upgradation, Marketing, Entrepreneurial and Managerial Development and Schemes for Empowerment of Women Owned Enterprises. Further, with a view to facilitate the development of micro, small and medium enterprises (MSME), the Micro, Small and Medium Enterprises Act 2006, was implemented. The Act provides the new classification of each category of enterprises. As per the Act, MSME are defined as follows: in the case of the enterprise engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the IDR Act 1951 a micro enterprise is the one where the investment in plant and machinery does not exceed twenty five lakh rupees. a small enterprise is one where the investment in plant and machinery is more than twenty five lakh rupees but does not exceed five crore rupees; or a medium enterprise is one in which the investment in plant and machinery is more than five crore rupees but does not exceed ten crore rupees; in the case of enterprises engaged in providing or rendering of services a micro enterprise is one where the investment in equipment does not exceed ten lakh rupees; a small enterprise is one in which the investment in equipment is more than ten lakh rupees but does not exceed two crore rupees; or a medium enterprise is where the investment in equipment is more than two crore rupees but does not exceed five crore rupees In February 2007, the Government announced a package for promotion of the SSI sector as follows: Credit Support: The package aims at increasing the number of beneficiaries of the credit provided by the Small Industries Development Bank of India (SIDBI) by 50 lakhs, over five years beginning from 2006-07. For this purpose, the Government has provided grant to SIDBI to augment its Portfolio Risk Fund. Besides, in an attempt to increase demand-based small loans to micro enterprise, the Government announced a provision of grant to SIDBI to create a Risk Capital Fund (as a pilot scheme in 2006-07). The eligible loan limit under the Credit Guarantee Fund Scheme has been raised to Rs. 50 lakh. The credit guarantee cover has also been raised from 75% to 80% for micro enterprises for loans upto Rs. 5 lakhs. Fiscal support: The Government has increased the General Excise Exemption (GEE) limit from Rs. 100 lakh to Rs. 150 lakhs since April 2007. It further proposes to examine the eligibility of extending the time limit for payment of excise duty by micro and small enterprises; and extending the GEE benefits to small enterprises on their graduation to medium enterprises for a limited period. 3.3 FOREIGN INVESTMENT POLICY In recognition of the importance of of foreign direct investment as an instrument of technology transfer, augmentation of foreign exchange reserves and globalization of the Indian economy, the Government of India revamped its foreign investment policy as part of the reform process. 3.3.1 Foreign Direct Investment Foreign Direct Investment (FDI) regime in India was increasingly liberalized during 1990s (more particularly post 1996) and today India has the most liberal and transparent policies on FDI among the emerging economies, with restrictions on foreign investments being removed and procedures simplified. Some of the prominent features of the FDI policy in India are elucidated below: The approval mechanism for FDI has a two tier system. Under the automatic approval route, companies can issue shares and receive inward remittances for investment in areas identified and upto the limits of foreign equity prescribed, with a reporting requirement, within a period of 30 days. In these sectors, investment could be made without prior approval of the central government. Although, in case of the automatic route, it is no longer necessary to obtain the in principle permission from Reserve bank of India (RBI) before receiving overseas investment or for issuing shares to foreign investors, the company, would, however, have to make a report to the RBI within 30 days after issue of shares to the foreign investors. Proposals for investment in public sector units and also for Special Economic Zones (SEZs) / Export Oriented Units (EOUs)/ Export Processing Zones (EPZs) qualify for automatic approval subject to satisfaction of certain prescribed sector specific parameters. FDI upto 100% is permitted under the automatic route for setting up Industrial Parks. Proposals for FDI/NRI investment in Electronic Hardware Technology Park (EHTP) and Software Technology Park (STP) Units are eligible for approval under the automatic route, except for those requiring prior approval of the Central Government (as discussed below). FDI in sectors that are not covered under the automatic route requires prior approval of the Central Government. Activities/sectors require prior approval of the Government for FDI in the following circumstances:- Activities/items that require an industrial license Proposals in which the foreign collaborator has an existing financial/technical collaboration in India in the same field (except in IT and mining sector) All proposals falling outside notified sectoral policy/CAPS Proposals in which more than 24% foreign equity is proposed to be inducted for manufacture of items reserved for the Small Scale Sector The approval is granted by Foreign Investment Promotion Board (FIPB), which is a specially empowered board set up for the purpose, chaired by the Secretary, Union Ministry of Finance. Proposals for FDI could be sent to the FIPB Unit, Department of Economic Affairs, Ministry of Finance or through any of Indias diplomatic missions abroad. FIPB has the flexibility to examine all proposals in totality, free from predetermined parameters. Recommendations of FIPB regarding all proposals falling in the non-automatic route and involving an investment of Rs.6 billion or less are considered and approved by the Finance Minister. Projects with investment greater than this value are submitted by the FIPB to the Cabinet Committee on Economic Affairs for approval. Necessary regulatory approvals from the state governments and local authorities for construction of building, water, environmental clearance, etc. need to be acquired after the grant of approval for FDI by FIPB or for the sectors falling under automatic route. Single window clearance facilities and investor escort services are available in various states to simplify the approval process for new ventures. Decisions on all foreign investments are usually taken within 30 days of submitting the application. In cases where original investment is made in convertible foreign exchange, free repatriation of capital investment and profits thereon is permitted. Sectors prohibited for FDI include: Retail trading (except Single Brand Product retailing) Atomic Energy Lottery Business Gambling and Betting 3.3.1.1 Investment in SEZs In order to enhance competitiveness of Indian exports and attract investment in these sectors, Indias Foreign Trade Policy promotes the setting up of SEZs and thus provides for a hassle-free environment with world-class institutional and physical infrastructure and supporting logistics. Some of the existing EPZs/FTZs have also been converted into SEZs. All the State Governments have been advised to give priority to waste and barren land for acquisition purposes. According to the total Waste Land area surveyed by the Ministry of Forest, 5,52,692.26 hectares was available for such purpose. FDI upto 100% is permitted under the automatic route for setting up of SEZ. Proposals not covered under automatic route require approval from FIPB. The policy provides for setting up of SEZ in the public, private or joint sectors or by state governments. These could be product specific or multi-product SEZs. Designated duty-free enclaves are treated as foreign territory for trade operations and duties and tariffs, and duty-free goods need to be utilised within the approved period. The permitted activities cover an array of manufacturing and services like production, processing, assembling, reconditioning, re-engineering, packaging, trading, etc. Proposals for setting up units in SEZ, other than those requiring industrial license are approved by the Development Commissioner (DC). The approval for those requiring industrial license is granted by the DC after receiving clearance from the Board of Approval. The Letter of Permission (LOP)/Letter of Intent (LOI) issued by the DC is construed as a license for all purposes, including procurement of raw material and consumables either directly or through a canalising agency. The LOP/LOI needs to specify the items of manufacture/service activity, annual capacity, projected annual export for the first year in dollar terms, Net Foreign Exchange Earnings (NFE), limitations, if any, regarding sale of finished goods, by products and rejects in the DTA and such other matter as may be necessary and also impose such conditions as may be required. According to the policy, SEZ units have to be positive net foreign exchange earners and the performance of these units would be monitored by a unit approval committee consisting of the DC and the Customs Authority. 3.3.2 Entry Options for Foreign Investors A foreign company has the option to set up business operations in India as an Incorporated Entity or as an Unincorporated Entity. An Incorporated Entity would be a company registered under Companies Act, 1956, through joint ventures or wholly owned subsidiaries. Foreign equity in such Indian companies can be up to 100% depending on the requirements of the investor, subject to any equity caps prescribed in respect of area of activities under the FDI policy. Funding could be via equity, debt (both foreign and local) and internal accruals. For registration and incorporation, an application has to be filed with the Registrar of Companies (ROC). Once a company has been duly registered and incorporated as an Indian company, it is subject to Indian laws and regulations as applicable to other domestic Indian companies. Companies in India can be incorporated as a private company or a public company. In comparison with branch and liaison offices (discussed subsequently), a subsidiary company provides maximum flexibility for conducting business in India. However, the exit procedure norms of such companies are relatively more cumbersome. An Unincorporated Entity could be Liaison Office/Representative Office or Project Office or Branch Office. Such offices can undertake activities permitted under the Foreign Exchange Management (Establishment in India of Branch Office of other place of business) Regulations, 2000. They are also governed by the Companies Act 1956, which contains special provisions for regulating such entities. 3.3.2.1 Liaison Office/Representative Office The role of a liaison office is primarily to: Collect information about the market Disseminate information about the company and its products to prospective Indian customers Promote exports/imports from/to India Facilitate technical collaboration between parent company and companies in India A liaison office cannot undertake any commercial activity directly or indirectly and cannot, therefore, earn any income in India. Approval for establishing a liaison office in India is granted by the RBI. 3.3.2.2 Project Office Foreign Companies planning to execute specific projects in India can set up temporary project/site offices in India. RBI has granted general permission to foreign entities to establish Project Offices subject to specified conditions. Such offices cannot undertake or carry on any activity other than the activity relating and incidental to execution of the project. Project Offices may remit outside India the surplus of the project on its completion, general permission for which has been granted by the RBI. Since a Project Office is an extension of the foreign incorporation in India, it is taxed at the rate applicable to foreign corporations. 3.3.2.3 Branch Office Foreign companies engaged in manufacturing and trading activities abroad are allowed to set up Branch Offices in India for the following purposes : Export/Import of goods Rendering professional or consultancy services Carrying out research work, in which the parent company is engaged. Promoting technical or financial collaborations between Indian companies and parent or overseas group company Representing the parent company in India and acting as buying/ selling agents in India Rendering services in Information Technology and development of software in India Rendering technical support to the products supplied by the parent/ group companies Foreign airline/shipping company Branch Offices established with the approval of RBI, are allowed to remit outside India profit of the branch net of applicable taxes (which are at rates applicable to foreign companies) however, subject to RBI guidelines. Permission for setting up branch offices is granted by the RBI. Branch Offices could also be on stand alone basis in SEZ. Such Branch Offices would be isolated and restricted to the SEZ alone and no business activity/transaction would be allowed outside the SEZs in India, which include branches/subsidiaries of its parent office in India. No approval shall be necessary from RBI for a company to establish a branch/unit in SEZs to undertake manufacturing and service activities, subject to the conditions that: they function in sectors in which 100% FDI is permitted they comply with part XI of the Companys Act (Section 592 to 602) function on a stand alone basis in the event of winding up of business and for remittance of winding-up proceeds, the branch should approach an authorized dealer in foreign exchange in the with documents required as per FEMA. A Branch Office provides the advantage of ease in operations and an uncomplicated closure. However, since the operations are strictly regulated by exchange control guidelines, a Branch may not provide a foreign corporation with most optimum structure for its expansion/diversification plans. Box 3.1 Investment in a firm or a Proprietary Concern by NRIs A Non-Resident Indian or a Person of Indian Origin (PIO) resident outside India may invest by way of contribution to the capital of a firm or a proprietary concern in India on non-repatriation basis provided: i) Amount is invested by inward remittance or out of NRE/FCNR/NRO account maintained with Authorised Dealers of RBI (AD) ii) The firm or proprietary concern is not engaged in any agricultural/plantation or real estate business i.e. dealing in land and immovable property with a view to earning profit or earning income there from. iii) Amount invested shall not be eligible for repatriation outside India. NRIs/PIO may invest in sole proprietorship concerns/ partnership firms with repatriation benefits with the approval of Department of Economic Affairs, Government of India /RBI. Box 3.2 Investment in a firm or a Proprietary Concern by Other than NRIs No person resident outside India other than NRIs/PIO shall make any investment by way of contribution to the capital of a firm or a proprietorship concern or any association of persons in India. The RBI may, on an application made to it, permit a person resident outside India to make such investment subject to such terms and conditions as may be considered necessary. 3.3.3 Financing Options for Corporates Companies registered in India can raise finances through Share Capital or Debentures and Borrowings. 3.3.3.1 Share Capital The Companies Act, 1956 allows for two kinds of share capital, viz., Preference share capital (preferred stock) and Equity share capital (with/without voting rights). Apart from this, private companies which are not subsidiaries of public company have the option of raising funds through Venture Capital. The issue of shares to the public is governed by the guidelines issued by the Securities Exchange Board of India (SEBI) the body that regulates and oversees the functioning of Indian Stock markets and the RBI. A company issuing shares or debentures has to comply with SEBI disclosure requirements with regards to its prospectus. The prospectus has to be approved by the stock exchange and scrutinized by SEBI and then filed with the Registrar of Companies. Indian companies having foreign investment approval through FIPB route do not require any further clearance from RBI for receiving inward remittance and issue of shares to the foreign investors. The companies are required to notify the concerned Regional office of the RBI of receipt of inward remittances within 30 days of such receipt and within 30 days of issue of shares to the foreign investors or NRIs. Equity participation by international financial institutions such as ADB, IFC, CDC, DEG, etc., in domestic companies is permitted through automatic route, subject to SEBI/RBI regulations and sector specific cap on FDI. In all other cases a company may issue shares as per the RBI regulations. Other relevant guidelines of SEBI and RBI, including the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, wherever applicable, would need to be followed. The Companies Act does not specify the nominal value of shares. According to RBI/SEBI Guidelines, in case of listed companies, the issue price shall be either at the ave

Computers :: essays research papers

Computers The Computer that you know these days is a small thing that sits on a desk in your room that is composed of a monitor, keyboard, mouse and a small box. But computers have changed so much that if you seen old computer you would never recognize it. The first computer was built in the early 17 hundreds. You probably heard that the first computer was made in the 1950’s but computers have been around for hundreds of years.   Ã‚  Ã‚  Ã‚  Ã‚  All a computer is is something that calculates number. So these computers of the 1700’s were made from gears that worked together to make a answer. â€Å"In the nineteenth century, Englishman Charles Babbage designed a steam powered machine that could calculate square roots, cube roots and other exponential functions.† (1) The first computer was an abacus. â€Å"The Chinese abacus consists of a wooden frame divided into an upper and lower section.† (2) These are all computer that have been around 100’s of years.   Ã‚  Ã‚  Ã‚  Ã‚  Latter in the 20th century the government started to work on a top-secret project. That was the birth of type of computer. Similar to your computer but still very vary different. You would probably still would have never have guest what it is. The computer had no screen and it was the size of a office building. This computer was programmed differently too instead of typing in to a computer they had to make cards with holes in it that stood for different thing for it to do. They first had to make a program for typing so that they could have a keyboard connected to it. But still that was not good enough they need a program so that they could use the keyboard program on the system. This is called a operating system. The operating system is a lot like windows, it’s what keeps your computer interactive with you. But at that time they didn’t have a operating system and had to create one. One of the first operating systems open to the public was DOS.   Ã‚  Ã‚  Ã‚  Ã‚  The computer for years had been improved to smaller and smaller parts to run it faster and faster. Soon the computer was the size of a house. By then everyone knew about a computer. It was not until 1985 that the computer industry was able to take off and become one of the most important necessities in this world.

Free Will Vs. Fate In The Open :: essays research papers

The Open Boat, by Steven Crane, demonstrates fate vs. free will. In this story the characters are subject to contemplating how their fate is being determined, however free will cannot be dismissed as a contributor to their situation. The fine line between fate and free will, if it exists, is hard to define.   Ã‚  Ã‚  Ã‚  Ã‚  There are many philosophical and religious debates between the concepts of free will and fate. Free will is based on a belief that our future is based on the decisions that we make today. Looking back over our life at where we are is a product of our past.   Ã‚  Ã‚  Ã‚  Ã‚  Another view that is commonly suggested is fate. Fate can be considered your destiny, what you are going to become. It is a predetermined future. The world can be looked at like it is a giant play and everyone is here to just act out their part and then die.   Ã‚  Ã‚  Ã‚  Ã‚  There are many arguments that can be used to ratify both of these ideologies. A person being born into poverty in the middle city, in most cases, has certain limitations placed on his future. They will not have the same opportunities that many of have such as a good education, strong ethics and family upbringing. That a person is not able to decide his future, but it has already been chosen for him. The idea of free will can argue that “ in most cases';, in the above statement, is a key. There are people who have developed very successfully out of these urban areas to (1) accomplish great things and proving that a persons free will decides there future.   Ã‚  Ã‚  Ã‚  Ã‚  In The Open Boat naturalism comes into play as, once again, humans are shown insignificant to the forces of their world. As their first attempt at getting to shore fails they begin to feel they are not going to make it. They are asking why fate has allowed them to come so close before their lives are taken, “If i am going to be drowned - if I am going to be drowned - if I am going to be drowned, why, in the name of the seven mad gods who rule the sea was I allowed to come this far and contemplate the sand and the trees?'; (pg.131)   Ã‚  Ã‚  Ã‚  Ã‚  Was it their fate to be given the glimmer of freedom only to have it yanked away from them by the ultimate punishment of death?

Gallipoli Essay

A relevant idea in the film Gallipoli, produced by Peter Weir, is that war is a tragic waste of life. Weir made this idea seem relevant in the world today by using film techniques including music, dialogue and symbolism. Gallipoli is the story of a young man who went off to World War One. This particular film narrates the story of an eighteen-year-old from Western Australia who boarded a troop ship bound for Gallipoli. These soldiers fought the Turks in a campaign to capture Constantinople in 1915. It was Archy Hamilton’s sacrifices that highlighted the main idea that war was a tragic waste of life. Music is the first technique used to show us that war is a tragic waste of life, an idea that is relevant in the world today. Adagio in G Minor was a fitting sad and sombre piece. It was played along with blue lighting and visual effects such as the smoke when the soldiers crossed from Lemnos to Gallipoli. This piece of music really made me feel sad. It really helped to convey the sombre mood. The blue lighting and smoke also helped to add to the tension of the scene. This scene reminded me of animals heading off to a slaughterhouse. The superior officers acted as the humans, whilst the soldiers acted as the animals. It was these attitudes towards life and society that really helped me to understand that war is a tragic a waste of life. The officers’ attitudes showed that they did not seem to care about the soldiers’ lives or personalities. They just wanted to win the war. This idea is backed up by the dialogue between Major Barton and Colonel Robinson. â€Å"If the Turks get back in their trenches we’ll get cut to pieces! † â€Å"I still say you must go. † This attitude of the officer’s also has relevance in today’s world. There are still people out there nowadays who are so ambitious that they do not care what is in their way or who gets hurt. They are determined to reach their goal, for example a parliamentary race for election or an athlete’s fight for a champion title. Dialogue is a technique used to show us that war is a tragic waste of life, an idea that is still relevant in the world today. In the opening scenes we are shown a tracking shot of Archy sprinting and his ‘world-class’ time. This is showing us a brief snapshot of Archy’s talent. Later in the film Uncle Jack says to Archy, â€Å"You’ve got the God-given ability to be amongst our very greatest. † This piece of dialogue really conveyed to me the extent of his talent and that he could go far. This is why I was dismayed to find out that Archy was killed in action. The enemy does not care who is in the firing line or what the opposition’s personal talents are, they are just there to win the war. So not only is war a tragic waste of life, but a waste of talent too. Eric Bogle’s hit single ‘And the Band Played Waltzing Matilda’ also backed up this idea. In the song he mentioned the â€Å"wounded and maimed. † This refers to those men like Archy, who had the potential to go far but war got in the way. Their talents were wasted or never had the chance to develop, because their countries were fighting over a minor issue that could have been resolved. This idea is also relevant in the world today because everyone has the potential to do or become something great. You just have to look deep inside yourself to find it. That is why it makes me so sad to see people wasting their talent and potential over one silly and stupid mistake and then end up going to jail. Another technique used to show that war is a tragic waste of life is symbolism. Symbolism is also used to show that this idea is still relevant in the world today. One example of this would be the use of watches. We are shown a close up shot of Uncle Jack clocking Archy’s record-breaking time. Later in the film, before Archy goes over the top of the trench, we are shown him hanging up the watch along with his other meagre possessions. This shows us that it means something to him. I believe this is because it reminds him of back home, his friends and family. The watch is also a symbol of Archy’s talent and is something that brings Uncle Jack and Archy closer. I also believe that the use of watches is used to symbolise death and that death runs on it’s own clock. This idea is also relevant in the world today when people face the tragedy of cancer. We cannot control whether we will be alive tomorrow, we just have to let life run its course. It made me really sad to see the watch being hung up on the bayonet because I felt it brought me to the end. Also, when Uncle Jack is saying goodbye, he said, â€Å"Take care of it boy. This is referring to the watch. This statement reinforces Archy’s youth by using the word â€Å"boy†. It also reinforces the meaning of the watch for him. To conclude, the techniques used to show that war is a tragic waste of life are music, dialogue and symbolism. These techniques were also used to show this main idea’s relevance in today’s world. I think the world today has become smarter than the days of world wars. There will still be skirmishes, but mankind has become smart enough to know not to sacrifice everything all over again.

P Plate Laws

They are there not to be broken but to save the lives of the young and inexperienced drivers. Since the new laws have been introduced more than 15,000 P-Plate drivers have been stripped of their licence in Victoria alone which shows that these ‘hoons’ don’t care about the law and even tougher rules need to be put in place. The new P-Plate laws, which are being enforced Australia wide, include having only 1 passenger between the age of 16-21 while you are on your Red P Plates, not driving a turbo or super charged vehicle, or driving a vehicle that has more than 6 cylinders. You are also required to drive 120 hours before being able to obtain your P Plates. The new P Plate laws that have been put in place are definitely working and reducing the death toll on our roads. It was reported in the herald sun that since the new p plate laws have been introduced there has been a 21% decrease in deaths on our roads among p platers. Eric Roozendal the roads minister has said he is â€Å"heartened to see that fatality rates have fallen for red P Plate drivers – which were the main target of the reforms†. Not only is he delighted with the way the new laws are working but other drivers or drivers to be are as well, like 19 year old L Plater Meg Walster who is even more excited about getting her P Plates because she is encouraged in the fact that it is safer to drive thanks to the new p plate laws. However some hoons still don’t get the message. These hoons seem to think they can do whatever they like because they will not be caught or because they are showing off to their friends. One of the main laws to be broken is going over the speed limit. Last year more than 11,400 P plate drivers were caught speeding and nearly 200 of those were caught speeding [pause] more than 45 km/h over the speed limit. Not even very experienced drivers could handle the speeds at which some of the new p platers were going at, what made them think they could? A very good example of these hoons not caring about the laws, themselves and other drivers around them was when late last year a young p plater obtained his licence and a mere 45 minutes after his test he was caught speeding at a [pause] 154 km/h in a 110 km zone. That’s just shows how reckless and immature these hoons are. Sue Philips has issued a statement to all new drivers after her son died and his two friends were injured in a horror crash because he was speeding, the damage was unimaginable, the car was split into two, the two halves of the car separated [pause] by a massive 40 meters. She warned all other drivers to stop and think before speeding. These hoons need to wake up and see what is happening around them, and what not just speeding but breaking any of the road rules can do, not just to you but everyone around you on the road. There needs to be tougher punishment for these law breakers, because that’s what they are laws breakers. Just because road laws might not seem as important or as bad as assault or breaking and entering or even stealing the consequences should be similar because breaking the road laws can be more devastating. Hoons choose to break the laws, it is not like they get provoked to or even need to break the laws to survive [pause] they choose to! The P Plate driver who was caught driving 44km/h over the speed limit, 45 minutes after gaining his licence was only fined $421 and had his licence suspended for 3 months. That is not enough for exceeding the speed limit by the amount that he did. Many people die in accidents that are resulted from speeding and even more get severely injured. These hoons need to be treated like criminals because these are criminal offences that they commit when they decide to break the road laws. P Platers argue that they are capable of handling powerful cars that are either turbo or super charged or even a v8 and that is not true because they are young and inexperienced and could not handle its power, as you need experience to control a car like that especially if you were to spin out or even accelerate, p platers most of the time put their foot down all the way when the light goes green, sure they can handle the power in a 4 cylinder car or even 6, but they most definitely would not in a powerful car. P platers also argue that they should be able to carry more than one passenger between the age of 16 and 21 but did you know that a p plater is 4 times more likely to be in an accident when he or she is with someone their own age! Also p plater say is costs too much for fuel when going on trips because they have to take more cars. This is true but when going on road trips you can apply to vic roads to get an exemption for a few days but you cannot be caught speeding or breaking the road laws otherwise there will be hefty fines. The new P Plate laws are there for a reason. Tougher laws need to be introduced but the current ones are working and making our roads safer every day. These hoons need to realize what breaking the road laws can do and need to think about the consequences because not only can they be hurt but others around them too.

God provides Essay

SEEKING GUIDANCE The discipline of seeking guidance goes to the heart of walking with God. Guidance involves us hearing God’s voice and obeying Him. It is not only seeking His will in a specific matter, but it is a constant way of life. God provides guidance to His people in two ways. One is individual guidance, where God gives each of His children divine instruction through Scripture, reason, circumstances, and through prompting of the Spirit in the individual’s heart. In corporate guidance, God guides groups of people who gather in fellowship to seek the will of God. Both aspects are important to submit to as we seek to live in response to the voice of God. It is also a treatise on the nature of the perception of God and spiritual growth. One must believe in divine guidance. One must believe God will guide you. What God wants from each individual. Why each individual needs to seek God’s guidance. Most often, God sends divine guidance and wisdom through anointed people and not supernatural signs. You need wise counsel. Wisdom is usually gained by successful experience. Everyone has experience but only a few have successful experience. Many live in a continual cycle of action then regret but wisdom either successfully breaks bad cycles or never gets in bad cycles. It is usually far less painful to benefit from the experience of others than having to go through it ourselves. When you successfully go through something, you usually have wisdom. Everybody Knows: You can’t be all things to all people. You can’t do all things at once. You can’t do all things equally well. You can’t do all things better than everyone else. Your humanity is showing just like everyone else’s. Therefore:You have to find out who you are, and be that. You have to decide what comes first, and do that. You have to discover your strengths, and use them. You have to learn not to compete with others, Because no one else is in the contest of being you. Then: You will have learned to accept your own uniqueness. You will have learned to set priorities and make decisions. You will have learned to live with your limitations. You will have learned to give yourself the respect that is due. And you’ll be a most vital mortal. Dare To Believe: That you are a wonderful, unique person. That you are a once-in-all-history event. That it’s more than a right, it’s your duty, to be who you are. That life is not a problem to solve, but a gift to cherish. And you’ll be able to stay one up on what used to get you down. Loving ourselves being as compassionate, gentle & loving with ourselves as we would with a best friend can be pretty hard to do. This is especially true for women & survivors of abuse (including neglect). As women & survivors, we’ve been trained to deny our own feelings & needs & to take care of others. And we’re also frequently given messages that tell us not to accept or love ourselves. This is especially true for survivors; it’s so easy for us to take in the hating messages our abusers gave us & to turn that inwards on ourselves. But it is possible to love ourselves or at least to increase our self-love in increments, until we can know, deep to our cores, that we love ourselves & that we’re beautiful. Here are some of the things that have worked for me. I hope you’ll find they work for you, too. Carrying around some form of comfort & having it available right when you need it can help ease anxiety & stress & give you reassurance when you need it. I’ve found that just knowing I have a comfort bag with me is sometimes enough – and other times, I am grateful I have it with me to dip into. You might want to try carrying around some comfort & see if it makes a difference in your life. There are times when we are out in the world & need a little – or a lot – of extra comfort. Times when we are nervous or scared, feeling vulnerable or unsure of ourselves, or just not very confident. A new job, a speech we have to give, a new situation, a group where we don’t feel very welcome, or just when you’re feeling stressed out. Or, for survivors, facing something triggering, frightening, or painful. It’s times like those that portable comfort can come in handy. Portable comfort means bringing something with you on purpose that helps you to feel comforted & reminds you that you are safe & loved. There are many different ways of bringing comfort with you – and they don’t all have to be obvious. I take portable comfort with me whenever I leave the house. I have things already placed in my backpack, the pockets of my coat & sometimes even my jeans, so if I forget to bring something extra with me, I already have something with me. And I always wear the same necklace; it’s always with me. If you have time before you leave for the day, it’s a good idea to associate whatever good feeling you want to remind yourself of (comfort, safety, love) with the object. To do this, take a moment & remember when you felt comforted, safe, or loved. Hold that feeling to you. Now imagine that good feeling flowing into the object. Tell yourself that whenever you see or feel or notice that object in your day, you will be reminded of that good feeling & feel it again.

A Reflection Paper on Gintong Pamana

The evidences that will prove that Filipinos have a rich culture in pre-colonial period are the gold Jewelries and their technology. Firstly, Gold is a precious metal that surpasses all ores in the world. It is the most expensive to the point people search for it, fight for it, and even kill for it. But that wasn't the case in pre-colonial period. All classes?the nobles, freemen and the two types of slaves (lapping Mahayana and lapping salesgirl)?wore gold Jewelries.There are many uses of gold back then, but hey were Just an ornament on their bodies, utensils, decorations, orifice ornaments for the deceased when they laid to rest, and more. Lastly, their manual technology on how they molded the gold. In the video, seeing the belts, figurines and the stunning over the shoulder â€Å"halter† weighing four kilos of pure gold made me gasp and deeply think. â€Å"Just how on earth they made those ornaments? † I thought. They made it manually and with the only help of a cruci ble to melt the gold and so they were able to produce works that are superior.The film definitely challenged my assumptions. I assumed that the Filipinos have poor culture because they don't have the modern technology but I was completely wrong. The folks who inhabited the islands nearly a millennium ago were already so advanced In their craftsmanship which was also true at different points of our history in the beautiful textiles, baskets, embroideries, etc. Watching the video made me realize that I do not such grand material heritage In my house but I do have the heritage of knowledge and values.I already gained It at the time I had my consciousness. I believe that I can preserve them by passing It down to future generations. At least for me, knowledge and values are the most Important heritage because It teaches you moral lessons and It can lead you too better life. We Filipinos are always searching for our Identity. People are complaining that we are not pure or natives, uncivil ized and messiest but at the time when we see the Surreal treasures, we realize that Is already the core, which Is who we are.