OPINION, P2 NEWS Bid goodbye to a bizarre year Bank recapitalisation FOLLOWING THROUGH BOI, Dena Bank receive capital infusion from government Page 11 Indian golf has finally arrived with six victories in the Asian and European Tours by five players in 2017 Page 2 ACROSS THE AISLE, P CHIDAMBARAM Vol XVII No 10 Follow us on Twitter & Facebook. App available on App Store & Play Store EXPRESS ADDA WWW.FINANCIALEXPRESS.COM RAJKUMMAR RAO NEW DELHI SUNDAY, DECEMBER 31, 2017 16 Pages, `8 (Patna `11, Raipur `10) FINANCIAL EXPRESS ON SUNDAY PUBLISHED FROM:AHMEDABAD, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI, PUNE Defining 2018 BOOKS THE 2018 BUCKET LIST Titles you can't miss in coming year Page 4 FOOD & DRINK BACK TO BASICS PRADHAN MANTRI AWAS YOJANA Bharat ends 2017 with better chances of roof over head ● Construction of houses in rural India under scheme on target; urban lags Mindful eating will get bigger in the coming year. Find out what more will be on your plate in 2018 Page 5 SURBHI PRASAD New Delhi, December 30 SPOTLIGHT THE BIG 5 OF 2018 From politics to pollution, AI, IoT & privatisation, issues that promise to be the biggest headlines of the coming year Pages 6-7 FOOTLOOSE NO MONEY? NO WORRIES Money worries aren’t stopping millennials from hitting the road Page 8 ENTERTAINMENT SPOILT FOR CHOICE The consumer is going to be king, with not just content, but platforms also vying for attention Page 9 ODD & EVEN ROHNIT PHORE THE PRADHAN MANTRI Awas Yojana (Urban) might be far behind its target, but its rural counterpart is bang on target. As per officials at the rural development ministry, as against the target of 75.88 lakh houses allocated to the states under PMAY-Gramin during 2016-18, about 71.01 lakh beneficiaries have been registered, of which 63.72 lakh houses have been geo-tagged. Around 58.58 lakh beneficiaries have received sanctions for their houses, of which 53.20 lakh and 34.44 lakh beneficiaries have received first and second installments, respectively, as of December 14 for the construction of their houses. As many as 11.57 lakh PMAY-G houses have been completed so far. Prime Minister Narendra Modi had launched Pradhan Mantri Awas Yojana (Gramin) in November last year, setting a target of completing 1 crore new houses by March 31, 2019. “To meet the challenge of Against the target of 75.88 lakh houses allocated to the states under PMAY-Gramin during 2016-18, about 71.01 lakh beneficiaries have been registered The Pradhan Mantri Awas Yojana (Gramin) had set a target of completing 1 crore new houses by March 31, 2019 assisting PMAY (G) beneficiaries in construction of their homes by March 2018, the ministry, in partnership with the state governments, has taken many steps, including setting month-wise targets for completion of houses. The target for completion of 10 lakh houses by November,2017,was achieved before the month ended,” the official said. He added that the houses QuickPicks NewYearwishes to Trump: Putin seeks‘pragmatic cooperation’ RUSSIAN PRESIDENT Vladimir Putin called for “pragmatic cooperation” in his New Year wishes to US President Donald Trump, the Kremlin has said, reports AFP. In a statement on the Russian president’s New Year wishes to world leaders, the Kremlin said Putin told Trump that “a constructive Russian-American dialogue is especially needed to strengthen strategic stability in the world”. According to the statement, Putin said that "mutual respect" should be "a base to develop relations" between the two countries. 100 illegal structures demolished in Mumbai PRESS TRUST OF INDIA Mumbai, December 30 INAMAJOR crackdown,civic officials in Mumbai on Saturday demolished illegal structures in at least 100 restaurants and pubs,a dayaftera blaze in an upscale pub claimed 14 lives. The Brihanmumbai Municipal Corporation (BMC) initiated a mega demolition drive and had razed illegal, unauthorised structures of at least 100 restaurants and pubs across the citytill afternoon,an official said. As many as 1,000 officials and employees of the civic body had hit the streets and become a part of the exercise, he added. “The unauthorised hotels and restaurants,not onlyin central Mumbai, but also those located in the distant suburbs, such as Malad and Mulund, are facing action,” BMC spokesperson Ram Dotonde said. Continued on Page 11 Luxurious Dubai READ TO LEAD ‘Actors should be socially responsible. I don’t want to do films where I am spreading hatred’ Page 10 Swinging both ways is retailers’ new mantra ● For shoppers in a time-starved, tech-enabled economy, brands need to be both offline and online MEGHNA SHARMA Mumbai, December 30 LEAVING CHINA BEHIND, India is now the most dynamic market with a rapidly expanding economy and a consumption boom, says 2017 Global Retail Development Index report byATKearney. Indiahasseenane-commerce boom in the past decade with the entry of several marketplaces, which are fighting to woo customers.Today,shoppersareliving in a time-starved and tech-enabledeconomy.Thus,theneedfor retail businesses to be omnipresent is a necessity. While brands are present in malls to get desired footfalls, digital helps by becoming yet another storefront, albeitonline.Effortstoboostcashlesspaymentsandreformindirect taxationwith a nationwide goods and services tax are also helping accelerate modern retail. “Today millennials are always connected;ifnotshoppingonline, they do their research online before heading to a store,” says Sha- ON TUESDAY 'OMNI-CHANNEL RETAIL’S BALANCING ACT' bori Das,senior research analyst, EuromonitorInternational.Physical retail brands, over time, have realisedthatthenewdigitalworld is something they need to be a partof.Besidesjoininghandswith e-commerce majors like Amazon or Myntra, many have unveiled their online presence as well — a step that is important to survive, as today customers don’t distinguish between channels. For instance, fashion retail company, Max Fashion, which went online with a website and appthisyear,willsoonbeenhancing customers’ experience by launchinganewchannelthatwill allow its users to place an online order in the store using digital kiosks, and have it delivered to theirdoorsteps. As per a recent study, more than 65% consumers search online before walking into a store. Also about 55% tend to look at consumerreviewsandabout47% of them tend to check company websites.So,thereisalotofmovement happening between offline and online.Consumers today are getting used to‘hybrid’shopping behaviour.Also,what’s noteworthy is that some of these brands areeithernotpresentorhavelimited presence in tier II and III cities.Theonlineplatform,sayexperts,helpsthesebrandstotap,as wellasgiveaseamlessexperience to theircustomers. “Wedon’tbelieveinthenarrative of offline versus online. We believe in being an omni-channel retailer.Today,Shoppers Stop has 80physicalstores,anonlineshopping website and a mobile app," says Govind Shrikhande, MD, Shoppers Stop. So far, it has invested `60 crore in its omnichannel journey and targeting to achieve 10% of sales from online by2020. were completed within time mainly due to direct payment of financial assistance into the beneficiary accounts and by providing quality training of house construction to rural masons. Under the housing scheme, the government envisages building affordable ‘pucca’ houses with water facility, sanitation and round-the-clock electricity supply.The payment for construction of the houses is directly transferred into the accounts of the beneficiaries. Meanwhile, of the sanctioned 36 lakh houses under PMAY (Urban) till date since 2015, when the scheme was launched, about 15.65 lakh houses are being built, while 4.13 lakh houses have been constructed since the launch of the mission. The government has set an ambitious target to construct as many as 12 lakh houses under the PMAY-U in 2017-18. In 2016-17, only 1.49 lakh houses were built under the scheme,against a target of 32.6 lakh units. It plans to construct 26 lakh houses in 2018-19, 26 lakh in 2019-20, 30 lakh in 2020-21 and 29.8 lakh in 2021-22. Palestine recalls its ambassador to Pak after India’s rap PRESS TRUST OF INDIA New Delhi, December 30 PALESTINIAN AMBASSADOR TO Pakistan Walid Abu Ali has been recalled for attending a rally organised by JuD chief and Mumbai terror attack mastermind Hafiz Saeed, Palestinian envoy to India Adnan Abu Al Haija said on Saturday. India on Saturday issued a strong demarche to Palestine on the issue, terming it as“unacceptable”.India’s secretary (economic relations)VijayGokhale in the exter- nal affairs ministry called Palestinian ambassador to India, Adnan Abu Al Haija, to the South Block, after which the ministry said, “the concerns were conveyed both in New Delhi to the Palestinian ambassador and in Ramallah to the minister of foreign affairs and expatriates, State of Palestine.” Haija informed India that his government had decided to recall its Ambassador to Pakistan Walid Abu Ali. Continued on Page 11 CBFC clears Padmavati, title to be Padmavat PRESS TRUST OF INDIA Mumbai, December 30 THE CENSOR BOARD has decided to give Sanjay Leela Bhansali’s Padmavati a UA certificatewithout anycuts,but has suggested that the director change the film’s title to Padmavat, besides making four other modifications. There were reports doing the rounds that the board had suggested 26 cuts to the film,but in a statement, Central Board of Film Certification (CBFC) chair- man Prasoon Joshi clarified that theyhave onlyadvised five modifications, including the title change,but“no cuts”. Continued on Page 11
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