Economy

redBus, the ticket booking business, headquartered in Bengaluru and funded by VCs in this city, is to be acquired by the South Africa-based multinational media group, Nasper, according to some media reports.  Many points are being raised on whether the founders (Phani et. al) and other stakeholders should remain invested instead of exiting. One never knows, what could happen if they wait. Yes, there could be a possibility of a higher exit at a greater value, but there is also a possibility of a value fall. It is for the promoters and other key stakeholders to think through options and take…

A woman sits with her ten-month-old baby. It's lunch time. Even as the hot afternoon sun beats down on her face, she quickly covers the baby with her veil protecting him from the sun. A huge apartment complex is under construction. There are over 12 workers there, not to mention two toddlers of around two years running behind their mother. She has just finished eating and resuming her work. She shouts at them to stop yelling. They don't.Two youngsters aged 16-17 lose their grip over the cement bag they are carrying and it rips apart. There are two more couples,…

Frail women carrying bricks or sand on their head and walking in the heat, sometimes with a small kid tagging along. Men in dusty, faded clothes with dry, rough hands smearing cement on the well-laid bricks or sprinkling water on a building that has just been cemented. This is a pretty common sight in a city like Bangalore that is ever-growing, ever-expanding and constantly in the process of being built or rebuilt. Building construction workers are growing in numbers every day, with constructions going on in any given road at any point in time. Labourers at work in the construction…

Recently, the Reserve Bank of India (RBI) launched a 1000 rupee silver commemorative coin which was released in July-August 2012 to commemorate of 1000 years of the Brihadeeswarar temple in Thanjavur, Tamil Nadu. Although, the Parliament of India approved a bill in 1975 to mint coins up to denominations of Rs 1000, the government never issued coins worth more than Rs. 150. The 1000 rupee coin was issued to mark a very significant aspect of Indian history. Incidentally, it is the first time that the Mumbai Mint issued the silver coin of Rs. 1000. The coin, weighing 35 gm, contains…

The debate about including IT/ITES industry under the Industrial Employment (Standing Orders) Act has been going on for a while. Here is what IT employees think about their work conditions and about the IE Act. Pic: Wikimedia Commons Most employees that Citizen Matters spoke to, opined that the Act will help employees. There was skepticism though, on a government department's interference in the industry and on its ability to actually help employees.While most employees complain about favouritism, overtime without compensation etc., some complain about being affected by serious malpractices. Ravi (name changed), who used to work in Yahoo, the multinational…

For the past 12-13 years, IT/ITES industry in the state has been exempted from a key labour law which is applicable to other industries. From coming April, this law - The Industrial Employment (Standing Orders) Act, 1946, aka IE Act - is supposed to be applicable for all IT companies in India. While the state Labour Department is waiting for IT/ITES companies to start implementing this, the industry is said to be actively lobbying for exemption. Pic: Wikimedia commons The crux of the IE Act is that each company will have to define its employment conditions in ‘Standing Orders' (SOs),…

Students of Indian Institute of Journalism & New Media are conducting an anonymous survey to analyse the income disparities among various groups across the country. In most countries around the world, women and men are paid differently for the same amount of work. Unfortunately India is a country that ranks really low when it comes to gender parity. Based on the Gender Gap Index 2011, India was ranked at 113 out of 135 countries. These figures tell a sad tale.Article 39(d) and 41 of the Indian Constitution state the principle for “equal pay for equal work” yet the gender pay…

Traditional or new age designs, the sari is celebrated as one of the most versatile garments, that suits every slender or sizable figure.The transformation in saree-designing has seen a rapid ‘renaissance' in the past decade, thanks to the innovative skills of gifted creators and designers. The ‘Desi Drape', a global fashion symbol today, is now available in a stylish array of designs and in an all new ‘ready to wear' mode! Many of the creators and leading designers are women entrepreneurs, working on making Bengaluru the new- age designer-saree capital of the South. Celebrity designer Sabyasachi Mukherjee's version of the…

For Vijay Bhaskar Reddy Dinnepu, the urge to give back to his roots was unrelenting. And that's what led to the founding of his initiative KisanRajaFRESH, that delivers fresh fruit, procured directly from farmers, to homes and offices. This, he feels, will help both the cultivator of the fruit and its end consumer - the consumer will pay less than he presently does and despite this, the farmer will earn more. Fresh fruit, straight from the farmer A chemical engineer with a post graduate degree in computer science from IIT Madras, Dinnepu embarked on this enterprise as a natural extension…

Manufacturing units (aka factories) come under the purview of various chapters and sections of the Factories Act, 1948 which provides detailed regulations concerning health, disposal of waste and effluents, lighting, drinking water, safety and other aspects relevant to working conditions. The legislation also governs working hours, rests, overtime for extra hours, the welfare officer et al. And the responsibility for compliance is on the ‘Occupier' who should be a director of the company and the factory manager.While the above provisions are grossly inadequate even for today's manufacturing industries, they barely cover the conditions prevailing in Information Technology (IT) and Information…