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EDITORIAL

The sudden cash crunch shows that remonetisation remains a work in progress Nearly 18 months after the government’s decision to scrap currency notes of ₹500 and ₹1,000, which accounted for over 86% of the currency in circulation at the time, large parts of India are in the throes of a severe cash crunch again. The government started acting belatedly on Tuesday in response to reports of cash shortages from States including Telangana, Andhra Pradesh, Karnataka and Madhya Pradesh over a fortnight. Terming the shortage a manifestation of an ‘unusual spurt in currency demand’ over three months, the Finance Ministry has emphasised that the first 13 days of April recorded an increase in currency supply of ₹45,000 crore. Yet, thousands of automated teller machines are either not functioning or not dispensing adequate cash as banks are reluctant to divert cash to them at the cost of customers visiting branches for withdrawals. The Ministry has asserted that over ₹1.75 lakh crore of cash lies in reserves, which may now be deployed to meet the demand. On its part, the Reserve Bank of India has claimed there is enough cash in its vaults, but it has ramped up the printing of all notes. At the same time, it blamed the shortages on logistical issues of replenishing ATMs and said it is moving more cash to regions that witnessed high cash withdrawals. Theories abound on how upcoming elections, starting with Karnataka and possibly ending with the Lok Sabha polls in 2019, have prompted a large-scale cash management exercise among political parties. Part of the retail love for cash is also being attributed to depositor fears about the impending Financial Resolution and Deposit Insurance Bill that makes it possible to deploy investor savings to bail out stressed banks and financial institutions. There could be some truth in these explanations, but the genesis of the current cash crisis is firmly rooted in the lack of system-wide thinking that went into the Centre’s big-bang note ban gambit. The government may have chosen to go for ₹2,000 notes post-demonetisation to remonetise the economy faster, but with lower denomination notes taking longer to flow freely, circulation wasn’t efficient and the big note has become a preferred mode for hoarding capital. That a plan to re-introduce ₹1,000 notes was later junked didn’t help; nor did the difference in the sizes of the new notes. As the RBI noted on Tuesday, recalibration of ATMs is still under way for the ₹200 note. Demonetisation may have been aimed at weeding out black money, but perpetuating dependency on the ₹2,000 note ignores an age-old heuristic for currency management that every denomination should be 2 to 2.5 times its preceding denomination. The current cash crunch shows how the consequences of the overnight demonetisation of November 8-9, 2016 continue to haunt us.cash crunch (noun) – severe shortage (of money).scrap (verb) – eliminate/discard, remove, withdraw.in the throes of (phrase) – struggling with, grappling with, in the middle of.belatedly (adverb) – later than expected; tardily.fortnight (noun) – a period of two weeks.manifestation (noun) – display, indication, evidence.spurt (noun) – a sudden burst, increase of activity.dispense (verb) – allot, distribute, disburse/supply.reluctant (adjective) – unwilling, disinclined, opposed.assert (verb) – declare, state/announce, claim.lie (in) (verb) – consist, exist, be present.reserves (noun) – banks; funds kept available by a bank/government.vault (noun) – safe room in a bank, repository/depository, treasury.ramp up (phrasal verb) – increase, rise.replenish (verb) – refill, restore, fill up (again).abound (verb) – increase/escalate rapidly, be numerous, flourish/mushroom quickly.bailout (verb) – providing financial help/support by the outside investors to a bank/institution which faces serious financial difficulty. bail-in (noun) – a way of helping a bank or other institution in financial difficulty, in which people/creditors of the bank to bear some of the burden by cancelling a part of the debt they are owed.stressed banks (verb) – banks with more “stressed assets”(non-performing assets, restructured loans and written-off assets) & poor financial health.genesis (noun) – origin/source, beginning, emergence.big-bang (adjective) – relating to the introduction major changes in something (economic situation).gambit (noun) – strategy, plan/scheme, course of action (to gain an advantage).hoard (verb) – accumulate/amass, store up, stockpile.junk (verb) – throw away, discard, abandon.recalibration (noun) –  a process of servicing/maintaining/repairing instrument or device.weed out (phrasal verb) – isolate, separate out/remove, set apart/segregate.perpetuating (adjective) – prolonged, continuous, sustaining.heuristic (adjective) – informative, instructional, explanatory/telling.preceding (adjective) – old, previous, prior/earlier.overnight (adverb) – immediately, very quickly, instantly.haunt (verb) – disturb, trouble, torture.#FancyJ

EDITORIAL

The forecast has enhanced the economic outlook, but India must conduct a water audit The forecast of a normal monsoon has brought relief all around. For farmers, the India Meteorological Department’s estimate that rainfall during the summer, between June and September, will be 97% of the 50-year average of 89 cm, is bound to raise fresh expectations. This is the third year in a row that they can look forward to a high output for a variety of crops, although fiscal realities have come in the way of realising higher farm incomes. The Centre has been supportive of higher returns through the Minimum Support Price mechanism and additional bonuses have been announced by States such as Madhya Pradesh for procurement, but these have helped mainly rice and wheat. From a water management perspective, though, this trend has led to a skew towards these crops, which are heavily dependent on groundwater. Now that another year of good cropping is expected, and unremunerative prices will depress public sentiment, it is vital for the Centre to arrive at a policy that gives constructive advice to farmers on the ideal cropping mix and help them get the cost-plus-50% margin that it has promised them. The IMD’s decision to provide a more fine-grained forecast on the monsoon’s progress, particularly in the central and northern regions, will meet a long-felt need and can potentially guide farmers better.The long-term challenge is to make the most of the rainfall that India gets, ranging from a few hundred millimetres or less in the northwest to more than a few thousand millimetres elsewhere. The Master Plan for Artificial Recharge to Ground Water drawn up by the Centre should be pursued scientifically, to help States with the most water-stressed blocks get adequate funds to build artificial recharge structures. Moreover, for those farmers who choose to continue with wheat and rice, transfer of expertise and provision of equipment that enables efficient utilisation of water is vital. An estimate of water used to grow rice and wheat, measured in cubic metres per tonne, shows that India uses more than what, say, China does. In the case of cotton, the figures present an even more staggering contrast: 8,264 cubic metres for India, against 1,419 for China. Combined with distortions in procurement subsidies, water stress due to such use is inevitable. On the monsoon as a whole, studies indicate a change in the pattern since 1950. There is an increase in daily average rainfall since 2002, barring some of the worst El Niño years, likely due to higher land temperatures and cooler oceans. What is well known is that a good monsoon raises agriculture’s contribution to GDP growth, while a drought year depresses it. Clearly, governments need to invest consistently to harvest the monsoon, both on the surface and underground, with community participation.water audit (noun) – a method of quantifying water flows and quality in simple or complex systems, with a view to reducing water usage and often saving money on otherwise unnecessary water use.bound to (adjective) – certain/sure, very likely, guaranteed.look forward to (phrasal verb) – anticipate, wait for, expect.Minimum Support Price (MSP) (noun) – it is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices.procurement (noun) – the action of buying or purchasing something.skew (noun) – distortion, misrepresentation, change.unremunerative (adjective) – futile, unprofitable, worthless/valueless.depress (verb) – sadden, make unhappy, upset/discourage.arrive at (phrasal verb) – achieve, attain, reach (a conclusion/decision).constructive (adjective) – positive, useful, helpful.fine-grained (adjective) – involving great attention to detail.make the most of (phrase) – Use something to the best advantage.pursue (verb) – engage in, follow, conduct.water stress (noun) – water scarcity; the lack of sufficient available fresh water resources to meet water demand.provision (noun) – supply, distribution, giving.staggering (adjective) – astonishing, shocking, surprising.inevitable (adjective) – unavoidable, sure to happen, unpreventable.barring (verb) – excluding, omitting, leaving out.El Nino (noun) – abnormal warming (of the Equatorial East of the Pacific that lies closer to the Americas). La Niña means abnormal cooling.drought (noun) – dry spell/period, lack of rain, shortage of water.harvest (verb) – collect, gather, obtain (resources for future use).community participation (noun) – the involvement of people in a community in projects to solve their own problems.#FancyJ

SAEF

The South Asia Economic Focus is a biannual (twice-a-year) economic update presenting the recent economic developments and a near-term economic outlook for the South Asian region. A Focus section that presents more in-depth analysis of an economic topic of relevance for stability, growth, and prosperity in the region, as well as country briefs covering Sri Lanka, Pakistan, Nepal, Maldives, India, Bhutan, Bangladesh and Afghanistan is also included in the report. The report concludes with a data section providing key economic indicators for South Asia “at a glance.” Overall, the report aims at providing important background information and timely analysis of key indicators and economic and financial developments of relevance to World Bank Group operations and interaction with counterparts in the region, particularly during the annual and spring meetings. Highlights: The World Bank Report says, India must create 8.1 million jobs annually. It has projected the growth rate in India to increase further to 7.5% in the coming two years and suggested that New Delhi must strive to accelerate the exports and investments in order to take advantage of the global growth recovery. India has recovered from the withdrawal of large denomination bank notes in November 2016 (demonetization), and the rollout of the Goods and Services Tax (GST) in July 2017. The report also said that the area has regained its lead as the fastest growing region in the world, supported by recovery in India. SAEF finds that the South Asia region could even extend its lead over East Asia and the Pacific. Issue Area: Much of the progress, however, is driven by India’s growth rebound and is not consistent across countries. Despite accelerating global growth and trade, exports remain weak. Progress on fiscal consolidation is slow, and deficits are high. What should be done? The report argues that growth alone would not suffice to attain the higher employment rates enjoyed by other developing countries, especially among women. Providing opportunities to these young entrants while attracting more women into the labour market, would require generating even more jobs for every point of economic growth.#FancyJ

April 17 CA

● World Haemophilia Day - 17 April ● Theme Of WHD 2018 Is ' Sharing Knowledge Makes Us Stronger ' ● India Ranks 10th On New Commonwealth Innovation Index ● East Godavari , First District With Complete LED Street Lighting ● Government Removes 44 Districts From Naxal-Affected Areas List ● Bengaluru Highest Paying City For Talent : Report ● World Bank Projects India’s Growth Rate At 7.3% For 2018-19 ● Lt Gen PP Malhotra Takes Over As Director-General Of NCC ● India Signed Loan Agreement With World Bank For USD 48 Million For Meghalaya ● The First African Land Forces Summit (ALFS) Began In Nigerian Capital , Abuja ● China To Launch New Weather Satellite - Fengyun-II 09 ● Pakistan Successfully Test Fires Enhanced Version Of Babur Cruise Missile ● Kerala Will Host The India Skills Kerala 2018 In Kochi ● The New York Times And The New Yorker Won The Pulitzer Prize For Public Service ● Government Revises Target To Complete PMGSY From Year 2022 To 2019 ● UK Joins International Solar Alliance To Mark Narendra Modi Visit ● NABARD Sanctioned Project Under Saur Sujala Scheme In Chhattisgarh ● Queen Elizabeth Appoints Prince Harry As Commonwealth Youth Ambassador ● India Breach 500 Medal Mark In Commonwealth Games ● Andrew Sean Greer Wins The 2018 Pulitzer Prize For Fiction ● Haryana Govt To Honor All 22 Medallists Of CWG 2018 From The State ● Jayant Sinha To Head A Task Force For Fast-Tracking UAV Technology ● The 29th Arab League Summit 2018 Has Started In Dahran ● Yuki Bhambri Won The 2018 Santaizi ATP Challenger Tennis Tournament In Taipei . #RAJKUMAR

EDITORIAL

The Centre has tied itself up in knots over its policy on oil pricingAfter a sharp fall at the beginning of the year, oil prices have risen dramatically in recent weeks. The price of Brent crude has risen by around $10 since it touched a short-term low of around $62 in early February, hitting its highest mark since late 2014. Tensions in West Asia after U.S. President Donald Trump’s decision to strike Syria helped push up prices. But it is important to separate short-term volatility in oil prices owing to geopolitical tensions from longer-term trends in the oil market. In its latest market report, the International Energy Association (IEA) noted that with oil prices ruling over $70, the Organisation of the Petroleum Exporting Countries (OPEC) has “accomplished” its goal of ending the glut in global oil supply. Notably, OPEC cut production by around 201,000 barrels a day in March compared to February. Yet, total world oil supply actually rose by 180,000 barrels a day in March, as output from non-OPEC countries, including the U.S., has been increasing in response to higher oil prices. IEA executive director Fatih Birol said last week that the next wave of shale supply may be in the offing as oil prices have remained high for some time now.In India, rapidly rising international crude oil prices have failed to push local petrol and diesel prices upwards in equal measure. The retail selling prices of petrol and diesel across major Indian cities have in fact risen by less than a rupee since the beginning of April. That is, they are not in sync with the upward rise in crude oil prices. Last week, Prime Minister Narendra Modi called for more ‘responsible’ oil prices, which he said have been in “roller coaster” mode for too long. Oil prices, he argued, need to factor in the interests of both consumer and producer. This assertion, along with the talk of allying with China and other Asian countries now to buy oil from OPEC members at lower prices, would have held more weight if the government’s actions matched the sentiment. It has imposed high duties on petroleum products ever since crude oil prices started moderating in 2014, but has been reluctant to scale down those duties in the face of rising prices, leading to record pump level prices. This clearly doesn’t benefit the consumer. Now, with the general elections about a year away and critical Assembly polls in Karnataka just a month away, the Centre is being cautious not to have higher oil import costs passed on to consumers. This flies in the face of the pricing freedom it had ostensibly granted to the oil marketing companies and packaged as a major deregulation reform. So its stance hasn’t benefited the producers either, as is reflected in their falling stock prices. How the Centre responds to rising international crude oil prices was always going to be the litmus test of its commitment to fuel price deregulation. In the current situation, it appears that the government has only tied itself up in knots over the petroleum pricing policy, and with it, its reformist credentials.WORDS LISTslippery (noun) – evasive, unreliable, unpredictable.slick (noun) – smooth and persuasive but untrustworthy.tie someone (up) in knots (phrase) – make someone confused.Brent crude (noun) – a classification of crude oil produced from the oil platform in the North Sea.volatility (noun) – the state of being legally responsible to change in a very sudden or extreme way.owing to (phrase) – because of, as a result of, on account of.glut (noun) – surplus, excess, oversupply.shale supply (noun) – supply of shale oil. Shale is a fine-grained sedimentary rock in which natural gas is trapped underground. Shale oil is an unconventional (crude) oil produced from this type sedimentary rock.in the offing (phrase) – on the way, coming soon, likely to happen.in sync (phrase) – in agreement.call for (phrasal verb) – necessitate, demand, warrant/justify.roller-coaster mode (noun) – (figuratively) an experience with unexpected highs and lows, sudden and rapid changes in a short period of time.factor in (phrase) – included/added as a factor/point when making a decision.assertion (noun) – declaration, contention, statement.ally (verb) – combine, join, merge.moderate (verb) – lessen, decrease, reduce.reluctant (noun) – unwilling, disinclined, opposed.scale down (phrasal verb) – reduce, lower, decrease.in the face of (phrase) – when confronted with, despite, notwithstanding, regardless of.fly (verb) – display, show, exhibit.ostensibly (adverb) – apparently, seemingly, allegedly.litmus test (noun) – indicative test, measure/gauge, index.deregulation (noun) – the removal of regulations in a industry.reformist (adjective) – modern, new/advanced, forward-looking.credentials (noun) – achievement, aspect, quality.#FancyJ

April 16 CA

● Petroleum Ministry To Observe Ujjwala Diwas On April 20 ● The Biannual Army Commanders ’ Conference shall Commence On 16 April 2018 ● Arun Jaitley Takes Oath As Rajya Sabha Member For New Term ● Dharmendra To Receive Raj Kapoor Lifetime Achievement Award ● “CITUS” Is A Govt Scheme, Related To Coir Sector ● Smriti Irani Inaugurates 7th Edition of Home Expo India 2018 In Greater Noida ● Himachal Pradesh Celebrates Its 71st Foundation Day ● PM Modi Leaves On 5-Day Visit To Sweden & UK ● Commonwealth Heads of Government Meeting Begins In London ● CII Pegs India's GDP Growth At 7.3-7.7% for 2018-19 ● Kotak Mahindra Bank Pips SBI To Become India’s 2nd Most Valuable Bank ● Railways To Launch ‘ MADAD ’ App For Lodging Complaints ● Union Government Raises NABARD's Authorised Capital To Rs 300 Billion ● India-Wiesbaden Conference 2018 in Delhi On April 16-17 ● Pradhan Mantri Ujjwala Yojana Was Launched In The State Of Telangana ● India Signs Loan Agreement With WB For  48 million $ For Meghalaya Community ● Filmmaker Rajkumar Honored With The Raj Kapoor Special Contribution Award ● Vijay Chavhan Honored With The V Shantaram Lifetime Achievement Award ● Mrinal Kulkarni Honored With V Shantaram Special Contribution Award . #RAJKUMAR

Joint lender's forum

 There are several arrangements now with the RBI, for fighting the Non-Performing Assets (NPAs) with the banking system. One such arrangement is the formation of Joint Lenders’ Forum which is a body comprised of banks who have given loan to the concerned borrower entity.The Joint Lender’s Forum is a dedicated grouping of lender banks that is formed to speed up decisions when an asset (loan) of more Rs 100 crore or more turns out to be a stressed asset. RBI has issued guidelines for the formation of JLF in 2014 for the effective management of stressed assets. Instructions for the formation of JLF is mentioned in the RBI guideline titled ‘Framework for Revitalizing Distressed Economy’ (2014).The existing guidelines says that “as soon as an account is reported to CRILC as SMA-2, all lenders, including NBFCSIs, (Non-Banking Financial Companies-Systemically Important) should form a lenders’ committee to be called Joint Lenders’ Forum (JLF) under a convener and formulate a joint corrective action plan (CAP) for early resolution of the stress in the account.” (source: CAFRAL).CRILC or the Central Repository of Information on Large Credits (CRILC) is an arrangement created by the RBI that collects information about loans of Rs 50 crore and more. The data about such big borrowers are kept and transferred to banks. SMA -2 or Special Mention Accounts -2 are loans that reports repayment problems for the last 60 days.Main purpose of JLF is to revive accounts that are stressed. The JLF has to initiate Corrective Actions when an account becomes the potential of being an NPA. As per the present norm, the JLF can take steps when an account with a size of More than Rs 100 crores or more doesn’t return payments and becomes a special mention account.The RBI has instructed banks to form JLF Empowered Group (JLF-EG) to approve the restructuring package for stressed loans.Corrective Action Plan (CAP) by JLF should be aimed to make an early solution to the stressed asset problem. The JLF can initiate rectification, recovery and restructuring as part of the CAP.       #REVATHI

EDITORIAL

With missile strikes, the United States has irresponsibly escalated the Syrian conflict.By launching a missile attack on Syria, U.S. President Donald Trump has made good on his threat to use force if chemical weapons are used in the civil war-stricken country, but he has also escalated the devastating, multi-sided conflict. This is the second time Mr. Trump has ordered a missile attack on Syria. Last year, after a chemical attack in Idlib province, the U.S. fired 59 cruise missiles at an airbase of President Bashar al-Assad. This time, after a suspected chemical attack in Douma near Damascus, the U.K. and France joined hands with the U.S. to punish Mr. Assad’s regime. On Friday night, over 100 missiles targeted three regime facilities; with this, the Pentagon said, Syria’s chemical weapons programme has been gutted. While the use of chemical agents against civilians cannot and must not go unpunished, the manner in which the U.S. and its allies have acted raises serious questions. The U.S. undertook the strike before the Organisation for the Prohibition of Chemical Weapons even began its investigation in Douma to ascertain if chemical weapons had in fact been used. It should have waited till the inter-governmental watchdog completed its investigation and then presented the case for action in the UN Security Council with requisite evidence. By acting merely on the basis of inputs from their intelligence agencies, the U.S.-led alliance flouted international law.  It is also doubtful if Mr. Trump’s “mission accomplished” bravado is justified. The fact that a provocation was perceived for a second strike within a year suggests that the first one failed to deter the Assad regime. On the other hand, Mr. Trump has dragged the U.S. deeper into the Syrian civil war. If there is a future chemical attack, either by Mr. Assad or by his rivals, the U.S. will be forced to act again, perhaps more harshly. Worryingly, every time the U.S. bombs Syria, the chances of a military confrontation in the country between the U.S. and Russia heightens, given that Moscow remains firmly behind Mr. Assad. What Syrians need is not more bombs and missiles, but an end to the war, which has killed at least 400,000 people in seven years. There is no dispute that Mr. Assad is presiding over a monstrous military machine that has used brute force against his own people. But the ground reality in Syria is so complex that a sudden collapse of the regime would push the country and the millions who live in relative stability in regime-held territories into further misery. That is the last thing anyone wants. The focus of the West needs to shift from unilateral military action to aggressive multilateral diplomacy to find an immediate end to violence and then a long-lasting political solution. For that, the U.S. and Russia have to work together under a UN mandate. There is no other path to peace in Syria.escalate (verb) – intensify, heighten, make serious.make good (phrase) – succeed, be successful, do well.devastating (adjective) – shocking, traumatic, distressing.cruise missile (noun) – it is a guided missile that flies with constant speed to deliver a warhead at specified target over long distance with high accuracy.join hands (phrase) – work together.airbase (noun) – a base/place used by a military force for the operation of military aircraft.gut (verb) – destroy, demolish, wipe out.undertake (verb) – begin, start, engage in.ascertain (verb) – confirm, verify, discover/find out.watchdog (noun) – inspector, observer, ombudsman.requisite (adjective) – necessary, required, essential.flout (verb) – defy, disobey, ignore.bravado (noun) – boldness, bold manner, bombast/daredevil.provocation (noun) – prompting, inducement, incitement.deter (verb) – stop, prevent, halt/obstruct.drag into (verb) – involve in a matter unnecessarily.confrontation (noun) – conflict, battle, face-off.preside (over) (verb) – be in charge of, be responsible for, control, oversee.monstrous (adjective) –  terrible, horrible, dreadful; .brute (adjective) – physical/bodily, crude, violent.ground reality (noun) – practical condition/situation.misery (noun) – hardship, trouble, difficulty/problem.unilateral (adjective) – relating to a method of taking decisions (on international relations) by a state (country) individually without considering other states (countries).aggressive (adjective) – insistent, vigorous, forceful.diplomacy (noun) – statesmanship; negotiations/discussions, international relations.long-lasting (adjective) – enduring, lasting, deep-rooted.mandate (noun) – order, directive, instruction.#FancyJ

PMRPY

In order to incentivise the employers for new employment generation, the Government of India designed the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme. Under the scheme, the employers would be paid the EPS contribution of 8.33% for every new employment created, by the government. The scheme has been operational since August 2016. The scheme is being implemented by the Ministry of Labour and Employment. Duration: The Scheme will be in operation for a period of 3 years and the Government of India will continue to pay the 8.33% EPS contribution to be made by the employer for the next 3 years. That is, all new eligible employees will be covered under the PMRPY Scheme till 2019- 20. Eligibility criteria: All establishments registered with Employees’ Provident Fund Organisation (EPFO) under EPF Act 1952 can apply for availing benefits under the scheme. They need to have a valid Labour identification Number (LN) allotted to them under the Shram Suvidha Portal. Benefits of the Scheme: The scheme provides a direct benefit of access to the social security benefits of the organized sector to the workers. Apart from this, there are dual benefits of implementing this scheme. The employer is incentivised for increasing the employment base of workers in the establishment. A huge number of workers would find employment in such establishments. Recent updates to the scheme: The cabinet Committee on Economic Affairs chaired by the Prime Minister has now given approval for enhancing the scope of the scheme. Now the government will contribute full admissible contribution for the first 3 years from the date of registration of the new employee for all the sectors inclusive of the existing beneficiaries for their remaining period of 3 years. #FancyJ

TEQIP

Technical Education Quality Improvement Programme:In the year 2002, the ministry of Human Resource and Development launched the TEQIP scheme.  The project commenced with the World Bank assistance to Government of India to launch TEQIP as a long term programme of 10-12 years, to be implemented in a phased manner, in 2 or 3 phases.Aim of TEQIP:The programme aims to overhaul the quality of technical education in the Low Income States and Special Category States (SCS) in India.The measures under TEQIPSeveral measures taken under TEQIP include:Institution based measures:accreditation of the courses through National Board of Accreditation (NBA),Reforms in the manner in which the institutions are governed,improving the processes followed in the institutionsdigital initiativessecuring autonomy for the collegesStudent based measures:improving the quality of teaching,providing quality training to the teachers,equipping the class rooms,revision of syllabus,industry interaction,compulsory internships for students,training the students in industry- equipping them with relevant skills, preparing them for various exams such as GATE exam etc.TEQIP is a long term programme divided into three phases. The present is the third Phase of the scheme. The focus is laid on the central, eastern and north-eastern regions and hill states for the implementation of the programme. The government has decided to employ graduates from premier colleges like ‘ITS, NITS etc to teach in engineering colleges in backward districts for a period of 3 years as a part of TEQIP Phase 3.However it is necessary for the state governments to take steps to hire permanent faculty either from this pool of talented graduates or from outside this pool, as the temporary faculty cannot prove as beneficial as permanent faculty.#FancyJ

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