OPINION, P2 EXPRESS ADDA Things fall apart; the Centre cannot hold IDEA EXCHANGE DEVDUTT PATTANAIK Justice (retd) Sujata Manohar ‘Modern people want to feel liberal, so they construct a past that’s conservative’ Page 4 'Mistakes by women are blown up, patriarchy persists. Need to accept that a woman can work’ Page 9 ACROSS THE AISLE , P CHIDAMBARAM Vol XVII No 53 Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM LEISURE ASPIRITED DANCE NEW DELHI SUNDAY, OCTOBER 28, 2018 14 Pages, `10 (Patna `11, Raipur `10) FINANCIALEXPRESS ON SUNDAY PUBLISHED FROM:AHMEDABAD, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI, PUNE WHAT'S INSIDE ■ SPOTLIGHT, P6-7 A gift for everyone Tech lover? Traditionalist? Gourmand? Whoever you might be looking to gift this Diwali, our selection of the latest gadgets, decor, baubles, delectable food and special-edition wines will surely bring a smile to the faces of your loved ones ■ WORDSWORTH, P5 Aadhaar revisited The Aadhaar Effect is an evaluation of the unique identity scheme that falls just short of critically examining the necessity of the exercise POWER STRUGGLE Nation higher than any institution or govt: FM ● Says attempts being made to weaken authority of the elected, creating power shift in favour of non-accountable institutions PRESS TRUST OF INDIA New Delhi, October 27 IN AN OBLIQUE reference to developments in the CBI, finance minister Arun Jaitley onSaturdaywonderedwhether non-accountability of institutions could be a ground for investigative adventurism and masking corruption. “The country is higher than any institutionorthegovernment,” he said while delivering the first Atal Bihari Vajpayee Memoriallectureinthecapital. The Supreme Court had to intervene in the infighting between senior functionaries of the Central Bureau of Investigation (CBI).Opposition par- 'IBC instilling fear among defaulters' FE BUREAU New Delhi, October 27 POTENTIAL LOAN DEFAULTERS havestarted Finance minister Arun Jaitley at the 1st Atal Bihari Vajpayee Memorial Lecture 2018, in New Delhi, on Saturday SK Mishra is new ED chief IRS OFFICER Sanjay Kumar Mishra was on Saturday appointed the new chief of the Enforcement Directorate in an additional capacity, reports PTI. His appointment as ED chief has been made “for a period of 3 months, or till the appointment of a regular incumbent, whichever is earlier”, said an order issued by the Prime Minister Narendra Modiheaded Appointments Committee of the Cabinet. PAGE 3 ■ Can non-accountability be a mask for corruption? Can it be a ground for investigative adventurism, or can it, as in case of other nonaccountable institutions, be a ground for inaction? ties led by the Congress made the government's decision to send CBI director on forced leave a political issue,saying it was done to prevent him from investigating the Rafale jet fighter purchase deal. Polluting units to be prosecuted As the average air quality in the national capital region inched towards severe levels, environment minister Harsh Vardhan said the government has decided to initiate criminal prosecution against agencies which do not comply with the directives to check air pollution, reports PTI. PAGE 14 ROHNIT PHORE PPA not NTPC’s priority for project acquisition in NCLT ● To assess operational parameters before taking over a project ANUPAM CHATTERJEE New Delhi, October 27 INWHATCAN beseenasadevi- ation from the standard practise followed by NTPC while taking up new power generation projects, the state-owned company might not prioritise the availability of power purchase agreements (PPAs)while bidding for stressed assets under the Insolvency and Bankruptcy Code route. A seniorcompanyofficial told FE that bankers are readyto spon- sorNTPCforbrownfieldacquisitions and the firm would be looking for operational parameters such as availability of water supply,rail connectivity and transmission infrastructure to assess if they are fit for takeover. As many as 34 power assets with a capacity of 40,130 MW are seen to be heading to the NationalCompanylawTribunal (NCLT),owingtotheRBI’sFebruary 12 circularwhich had compelled banks to resort to the IBC if defaulting assets did not finalise a resolution plan by August 27. However, the Supreme Court temporarily halted the process by ordering that fresh insolvency proceedings against corporate defaulters under the RBI mandate wouldnotbeinitiatedtillithears thematteronNovember14. Continued on Page 11 FMCG brands waking up to mobile as ad medium ● Players in category realising that mobile marketing doesn’t just boost brand recall, but impacts sales too ANKITA RAI New Delhi, October 27 EVENASA studybyThe Boston Consulting Group suggests that nearly40% of FMCG consumption is likely to be digitally influenced by 2020, currently only 10% of the overall ad budget of the FMCG sector is spent on digital. This is because unlike some GETTING MOBILE SAVVY ■ 40% of FMCG consumption is likely to be digitally influenced by 2020 (BCG) ■ Around 10% of the overall ad budget of the FMCG sector is spent on digital ■ Although digital has become a key vertical, modern trade still accounts for 30% of FMCG sales ■ The rise of e-grocery has led to redirect campaigns on social media, in addition to e-commerce platforms categories such as electronics, FMCG is largely bought offline. Additionally, there is very little control that brands have at the points of sale, with retailers owning the relationships with consumers.“Theseuniqueparametersmakeitdifficultformar- keters to link campaign success to product sales. But this also provides a huge opportunity to helpbrandsestablisharelationshipwiththeconsumerearlyon in the product purchase cycle,” says Prasad Shejale,co-founder and CEO, Logicserve Digital, a PTI FMSPEAK VYING FOR STRESSED ASSETS QuickPicks ODD & EVEN READ TO LEAD An Australian dance form familiarises audiences in India with Aboriginal people and their culture Page 8 digital marketing agency. Itisthisopportunitytoconnect with consumers through their preferred medium that is making brands like Dabur,Britannia, Heinz and others change strategy by opting for more mobile-based advertising. For instance, in a recent digital campaign, Heinz made use of reverse psychology by asking consumers to skip the YouTube ad.“The ad not only had a high completion rate of 32%, as against the industry average of 15-18%, but also had a brand recall lift rate of 52%,” shares Pratik Gupta, cofounder,FoxyMoron. Dabur has identified a few digital power brands, such as Dabur Honey, Real and its bleach range, that have a strong urban connect. Continued on Page 11 ■ The balance of federalism lies in making India a union of states and no step which goes in the direction of making it a confederation of states must ever be taken "The nation that is India,is higher than any institution or government… Can nonaccountability be a mask for corruption? Can it be a ground for investigative adventurism, or can it, as in paying up as the Insolvency and Bankruptcy Code (IBC) has instilled the fear of losing their businesses if they cross the red line,finance minister Arun Jaitley said on Saturday. “Banks won’t chase you (loan defaulters) any more; you will havetochasebanks,”Jaitleysaid at the three-yearold IDFC Bank’s anniversaryin the capital. Continued on Page 11 case of other non-accountable institutions, be a ground for inaction? What does the nation do? It is a major challenge,” Jaitley said. Continued on Page 11 ON SLOW TRACK Faster trains remain a faraway milestone ● Work on infrastructure for trains running at 160 kmph on Railways’ Golden Quadrilateral still to begin SAURABH KUMAR New Delhi, October 27 THERE HAS BEEN much talk of high-speed trains in the country, and while the Bullet train has the most novelty value, trains running at 160 km per hour across the Indian Railways’Golden Quadrilateral are the ones the public is most anticipating. However, going by the speed at which work is progressing on the project,the people have a long wait ahead of them. While the transporter preparedaplanandtheUnionbudget of 2017 sanctioned around `17,000crorefortwocorridors of the quadrilateral — DelhiMumbai and Delhi-Howrah — the actual work will only start after the dedicated freight corridors(DFCs)willbecomeoper- ational, expected by March, 2020.“The plan for semi-high speed trains is concrete but it is notroundthecorner,”admitted a top railwayofficial. The other four arms of the quadrilateral are Delhi-Chennai, Chennai-Howrah, Chennai-Mumbai and HowrahMumbai. More than two-thirds of the highly congested 10,000km Golden Quadrilateral network is utilised to beyond its capacity. While this network accounts for only 20% of the tracks across the country,55% of the traffic moves on this network alone. The official said the shutdowns required to carry out work cannot be provided till DFCs are operational. Continued on Page 11
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