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Government Announces Steps Required to Provide Further Impetus to Economy

The fundamental essence of the policies undertaken so far has been to deregulate and assist the flow of capital

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Economy, Government, India
The two vital components of the policy changes that stand out and need additional attention are (i) effective auction mechanisms to assist the flow of capital. LifetimeStock

The recent announcements by the Government of India regarding FDI in single-brand retail, changes to FPI surcharges and renewed talks about monetising state assets has once again brought the focus back on the next steps required to provide further impetus to the economy. The two vital components of the policy changes that stand out and need additional attention are (i) effective auction mechanisms to assist the flow of capital and (ii) promotion of competitive industries.

The fundamental essence of the policies undertaken so far has been to deregulate and assist the flow of capital. Utilising an adequate but less onerous regulatory regime is at the heart of creating and implementing growth-oriented policies. As we move ahead, we must keep an eye on the two focus areas.

Firstly, auctioning government assets and Public Sector Units (PSUs) to generate both much-needed capital as well as efficient organisations is an area that needs urgent attention. The vital aspect of the auctions is to create a template that can be improved upon in the future. And for the template to be developed for the auctions, it is vital to bear in mind that the complexity of government assets that can be auctioned vary significantly. Therefore, the warranted path for auction of Government assets must be cognizant of the complexities involved.

Initially, the process must focus on assets that have a predetermined use and a market value that is easier to assign such as businesses with physical assets that can be valued at market, such as industrial plants. Auctioning off of such assets is easier to decipher and will assist in giving the auction process the much-needed momentum. Once the auction process gains momentum, auction of more complex assets that pertain to “rights” can be attempted. More complex assets are the ones where assigning the “right to usage” may be complicated due to a lack of a visible market price.

Economy, Government, India
The recent announcements by the Government of India regarding FDI in single-brand retail, changes to FPI surcharges and renewed talks about monetising state assets has once again brought the focus back. LifetimeStock

The initial auction process would do well to deal with say a business that can produce a specific marketable commodity that can be priced using prevalent market prices. Auctioning an asset that is easier to price will attract investors and inspire public confidence in the process. Auctioning off a factory that can produce a specific product is an example of such an asset. Valuing the asset under consideration is relatively more straightforward. Auctioning off an asset whose usage may have varied options, is harder to price because the optionality may be harder to value, to begin with. The key “mantra” for creating the much talked about asset-monetisation process is executing a plan that is �measured’: starts from the simple, gradually move towards complexity.

The capital that the auction process generates must be taken as “risk-capital” to help stimulate Indian investments. More importantly, the money generated from such auctions can be used to untangle the domestic credit that is stuck in non-performing assets (NPAs) and provide a boost to new domestic investments. Fundamentally, the capital generated from the monetisation process will significantly improve the velocity of credit flow. While the quantum of money the new regulations and effective auctions can create is vital, the ability of the new policy moves and auctions to be a catalyst forunleashing domestic capital is of equal importance.

The second area that deserves attention from a deregulation perspective is “pricing”. To assist the higher flow of capital, promoting investments and pushing for more significant economic growth, the government must look to encourage competition in sectors rather than hunting for price-caps. While for essential commodities price-caps may be necessary, in general, introducing price-caps or “rent-control” has unfavourable long-term implications which may be counterproductive for economic growth and judicious capital usage.

The reason is not far to seek. One result of “rent-control” or price-caps may result in businesses reducing capital expenditure and investments and focus on capital recovery by “squeezing” assets. Sectors need to be made attractive for companies and investors to boost investments and growth. Hence the aim must be to promote capital flow using policies, instead of restricting investments due to limitations (like a price cap) imposed on the market.

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In general, the aim of government policy must not be to set prices but to encourage a competitive industry, that ensures innovation and fair pricing. To ensure that customers get a fair price, the government must provide a competitive industry; not a “rent-control” regime. Artificial price-caps promote the exact opposite behaviour of that intended by policymakers such as low-innovation, low-investment and decline in product quality.

Deregulation of markets to promote investments and economic growth is the path forward. Effective auctions and competitive industries are vital cogs in the economic growth wheel that can contribute significantly to tide over the current issues and boost long-term growth. (IANS)

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Adobe Photoshop on iPad Provides New Opportunities to Youngsters in India

Adobe has also made it possible to import photos directly from your SD card or USB drive into the iOS version of Lightroom

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Adobe
Although Adobe Photoshop on iPad was completely done in the US, the incremental syncing part was achieved in India. IANS

Thirty years and still going strong, Adobe Photoshop remains the most loved design tool for creators and professional designers. Now, iPad lovers in India are thrilled to try their hands on the software tool and let their imaginations fly.

Photoshop on iPad allows young users to craft composites with fingers and retouch images with Apple Pencil. Your PSDs will remain the same, whether you’re working on desktop or iPad.

Adobe Photoshop that arrived on iPads globally in November brings core compositing and retouching workflows to iPad.

For the millennials, this is a great opportunity to become a creative pro as Photoshop on iPad is an intuitive, more accessible entry point to the Adobe tool for new users.

It features full PSD (Photoshop document files) interoperability, a touch-based user interface (UI), Cloud document access, and the power to work on real-world, multi-layered creations.

“We’re excited to push the frontiers of creativity to make everyone more productive and express their creative vision — not only seasoned professionals, but also the next generation of designers, photographers, filmmakers and illustrators,” Scott Belsky, Chief Product Officer and Executive Vice President, Creative Cloud, Adobe, told the gathering at the recently-concluded Adobe Max conference in Los Angeles.

Adobe
Thirty years and still going strong, Adobe Photoshop remains the most loved design tool for creators and professional designers. Now, iPad lovers in India are thrilled to try their hands on the software tool and let their imaginations fly. Pixabay

Open up full-size PSDs on your desktop or iPad and store them in the cloud – no conversion necessary.

You get the same fidelity, power, and performance no matter what device you’re working on, even when you’re designing with thousands of layers.

“Use quick gestures and touch shortcuts to make edits directly on your canvas and speed up your workflow. With context-aware user interface (UI), you display only the core tools and panes you need, so you can focus on your canvas, not the clutter,” says Adobe.

Next up is Adobe Illustrator which is slated to arrive on iPad next year. The teams at Adobe’s Noida R&D centre and Apple’s Cupertino-based headquarters in the US are busy finalizing and preparing for the final release of the much-anticipated product.

“We are already doing complete R&D for Illustrator and InDesign. The upcoming Illustrator on iPad, which has received rave reviews, is entirely being done at our Noida R&D centre,” Shanmugh Natarajan, MD and VP of Product at Adobe India, told IANS recently.

The company has previewed Adobe Illustrator’s future with a reimagined touch-based app that brings the precision and versatility of the desktop experience to iPad.

Although Adobe Photoshop on iPad was completely done in the US, the incremental syncing part was achieved in India.

Adobe has also made it possible to import photos directly from your SD card or USB drive into the iOS version of Lightroom. Previously, users had to import images to their camera roll, then copy them over into Lightroom’s library.

Adobe
Adobe Photoshop on iPad allows young users to craft composites with fingers and retouch images with Apple Pencil. Your PSDs will remain the same, whether you’re working on desktop or iPad. Pixabay

Here are the plans for Indian lovers who want Adobe experience on their iPads. The “Photography (20GB)” plan with Lightroom, Lightroom Classic, and Photoshop is available for Rs 676 a month (excluding GST). If you purchase this plan by January 31, you get Photoshop on iPad for free.

In the “Adobe Photoshop Single App” plan, get Photoshop on desktop and iPad as part of Creative Cloud for Rs 1,420.

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For the “All Apps” plan, get Photoshop on desktop and iPad, plus the entire collection of creative apps for Rs 3,585.

Students and teachers can save over 60 per cent on the entire collection of Creative Cloud apps for just Rs 1,353. (IANS)