Friday, March 04, 2016 • Vol. 35, No. 10
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INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
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March 04, 2016
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
Friday, March 04 2016 | Vol. 35, No. 10
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Spread the Love P5
Om Namah Shivaya Wish You all a Very Happy and blessed Shivratri
Informative Tax Seminar
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March 04, 2016
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
COMMUNITY
March 04, 2016
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Career Insights on Business and Technology Consulting
HOUSTON: IITAGH co-hosted
a panel discussion on Business and Technology Consulting with the Rice Indo American Business Club. The event was held at Rice University, Jones Graduate Business School on Saturday, Feb 27, from 2pm to 4:30pm. Between the three panelists: Rama Manne (Partner at Infosys), Amit Bhandari (Associate Partner at IBM) and Shyam Chulki (Director at Deloitte Consulting LLP), attendees tapped into decades of technology consulting experience. Around 40 people, students, mid-careers and seasoned professionals participated in an engaging 2.5 hours. Students from Rice University and University of Houston made use of the opportunity to connect with
Talking about fuel, we discussed about how long before the oil recovery and how the Energy companies are leveraging technology to improve operational efficiencies. Given the current situation in Houston, job in energy was on top of everyone’s mind. We discussed about how the jobs have moved towards east of Houston with increased downstream activity. On the topic of career progression, panelists talked about how they made into consulting, starting with their engineering background. Early in their career they gravitated towards learning more about the technology behind the engineering processes. As they got more involved in the technological aspects they were driven
other technology and consulting professionals as well. After a quick introduction, Sundy Srinavasan moderated the discussion for 2 hours fueled by questions which continuously flowed from the the audience.
towards consulting with executives in shaping strategies. They mentioned that successful consultants empathize with their client’s pain, connect with them and focus on the value they bring in. Don’t be shy to express your opin-
ion, they said, however make sure that they are backed with data. As you grow in your consulting career, quickly focus on becoming a master of something vs. jack of all things. Collectively the panelists advised that as you move into consulting, you have be ready for a change in pace, network, be flexible and deliver to the “it factor”. Looking into the future, they talked about criticality of the geopolitical influences, risk sharing approach from consulting companies and increasing footprint of Big Data/
IoT/AI in all sectors. Beyond Oil and Gas, genomics and financial evaluation of technology companies were attractive to the panelists. You know you are having fun when one of the questions to the panelists was what would they do if they were Tim Cook, FBI and the Supreme Court. Attendees stayed back to network after 2 hours of panel discussion. IITAGH President, Shamanth Shankar thanked Rama Manne, Amit Bhandari and Shyam Chulki for being available for this
event, Pratish Kanani for bringing the panelist together, Sundy Srinavasan for continued support as the moderator at the Career Insights events, Pradeep Anand for his continued support to IITAGH & helping in outreach, Nishanth Babu and Professor Ramesh for helping with Rice University, Shiladitya Basu, Neha Jhinge, Preeti Singh, Jaideep Reddy, Shannon Hightower, IACCGH and TIE with support and outreach.
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
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March 04, 2016
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
COMMUNITY
HOUSTON: CRY- Child Rights
and You America Inc., a 501c3 non-profit organization that works to restore the rights of underprivileged children, especially in India, hosted its first annual benefit dinner “Spread the Love” on February 28, at the Stafford Civic Center, Stafford. The dinner committee included Dr. Tina Pariani, Ruchika Dias, Pavan Lakku, Huralain Kothari, Minakshi Bali, Sunil & Anupama Srivastava, Charu Rao, Mousumi Banerjee, Somdatta G, Priya & Dharam Bali. While India seems to hold the promise of being a potential engine of global growth with investments happening in many sectors, its children appear to be the most neglected segment, with the rights of children being vastly ignored. In 14 years of existence, CRY America’s work with 70 projects has resulted in 191,901 children being immunized, 104,972 child births registered and 367 public healthcare centers activated. Further, 1,187 public schools have been activated and 498,738 children enrolled in public schools today. Speaking at “Spread the Love”, Patrick Bocco, Fundraising Manager of CRY America shared, “India has the largest child population in the world. Children have big dreams and given an equal opportunity, they can rise to their full potential and make their dreams come true.” “Over 10 million children are forced by circumstances to do forms of work, often in hazardous or exploitative conditions. Girl children are killed in infancy or even while they are still in their mother’s womb. CRY America has been able to reach out to 600,558 children, a feat that would not have been possible without the support of our donors, volunteers and grassroots partners,” he added. “Spread the Love” was attended by almost 150 high profile individuals from the Houston metropolitan area, who came together to partner with CRY America’s work to benefit underprivileged children. The resources raised will be directed towards funding several projects to ensure lasting change for children. The key speakers were inspiring personalities including the stunningly beautiful actress, supermodel and a former Miss India, Pooja Batra and Comedian Dan Nainan. Pooja Batra shared, “I am so happy to be a part of this event and
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CRY America Calls for Support to Make Children’s Dreams a Reality
Photos: Murali Santhana
(Gobind Kamnani) & a baseball autographed by President Barack Obama (Amir Dodhiya). The 2 most coveted items – Apollo 11 picture autographed by astronauts Neil Armstrong, Buzz Aldrin and Michael Collins was outbid by Narain Kamnani & a Guitar autographed by Paul McCartney of the Beatles went to Anand & Dr Ashima Chauhan for $9200. A Certificate of Special Congressional Recognition was presented to CRY America by Sam Merchant from Congressman Al help raise funds for the children in India.” She added “As people of Indian origin, we have a powerful voice and the resources to help organizations like CRY America who ensure the basic facilities to grow and hopefully be successful.” Dan Nainan, shared, “I’m honored to have been asked to be part of the event for CRY America. He added that he was looking forward “to doing my best to raise as much as we can to help these very deserv-
ing children have happier childhoods and get an education. Dinner was followed by an enthralling dance performance by the Texan cheerleaders who also mingled and signed autographs. Malika Ghei delivered a fun upbeat song to keep the crowd entertained. The live Auction had an autographed picture of Jennifer Lopez(winner Viraj Pikle), Spiderman eye signed by Stan Lee
FOR
Green’s office. The event was attended by prominent members of the South Asian community, Leela Krishnamurthy, Dr Nik Nikam, Sam Kannappan, Rick Pal (Ek Disha), Bash Sharma & family and Ash Shah (President, Pratham) Dharam Bali (National Advisor, CRY America) gave the Vote of Thanks. The dinner committee introduced themselves by performing a catchy dance number. The event was managed by Ruchika Dias of Bollywood Shake and gourmet food by Chef Sunil Srivastava (Great W’Kana Café). CRY America would like to thank CONTINUED ON PAGE
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Indo American News (ISSN 887-5936) is published weekly every Friday (for a subscription of $40 per year) by IndoAmerican News Inc., 7457 Harwin Dr., Suite 262, Houston, TX 77036., tel: 713-789-6397, fax:713-789-6399, email: indoamericannews@yahoo.com. Periodical postage paid at Houston, Texas. POSTMASTER: Please send address changes to Indo American News,7457 Harwin Dr., Suite 262, Houston, TX 77036 INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
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March 04, 2016
COMMUNITY
Texas A&M University School of Law Distinguished Speaker Series
FORT WORTH:Harish Parvathaneni, Con-
sul General of India in Houston attended as Keynote Speaker at the Center for Law and Intellectual Property Distinguished Speaker Series followed by a Panel Discussion cohosted by Texas A&M University School of Law and Confederation of Indian Industry (CII) on Wednesday, February 24, at Texas A&M School of Law, Fort Worth, TX. Dean Andrew P. Morriss welcomed Consul General at the Texas A&M University School of Law. Consul General Harish gave an overview of the Indian economy, recent changes affecting the legal and business ecosystem, and flagship schemes and incentives of the Government for business and investors. He said that India has a robust Intellectual Property Rights (IPR) regime covering different kinds of IP such as Patents, Trade Marks, Industrial Designs, Plant Varieties, Copyrights, Geographical Indications and Semiconductor Integrated Circuits Layout. He stressed on India’s compliance with World Trade Organization (WTO) agreement on Trade Related Aspects of Intellectual Property (TRIPS) and World Intellectual Property Organization (WIPO). Consul General Harish highlighted India’s strong engagement with the U.S. and partner countries on IPR. He said that the Draft National IPR Policy has been released and discussions have taken place with all stakeholders regarding Government of India’s pro-active role in leveraging the strengths of the IPR regime for effective development and transfer of technology, promoting creative industries, stimulating innovations and empowering local communities in securing benefits from their knowledge base. The IPR regime is an integral part of the flagship projects of the Government of India such as Make in India and Digital India encouraging foreign companies to invest and establish their manufacturing, R&D and outsourcing bases in India. Professor of Law, Srividhya Raghavan moderated a panel discussion followed by Q&A featuring Consul General Harish and representatives of Indian industry, Kapil Sharma, Vice President Government and Public Affairs, WIPRO Inc. and Mani Iyer, President, Mahindra USA, who in their presentations explained the positive changes in business environment in India. They gave account of their hands-on experience of operations in India and the U.S. The event concluded with a healthy discussion between Professors specializing in IPR, students of the law school, the local bar, Chambers of Commerce, Indian lawyers and representatives of business and industry in the Dallas / Fort Worth areas.
For advertising contact: Vanshika Vipin at 713.789.6397 INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
March 04, 2016
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
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COMMUNITY
March 04, 2016
Ashok Garg Felicitated for Leading the Chamber in 2015
LAW OFFICES OF ZAINAB K. RIZVI DEDICATED DEPENDABLE & PERSONAL ATTENTION IMMIGRATION LAW
IACCGH thanks Past President Ashok Garg for an extraordinary year of leading the Chamber and elevating it to greater heights. His vision, innovative approach and commitment to the Chamber’s mission of promoting economic growth in the Greater Houston region made 2015 a banner year for IACCGH. Photo: Bijay Dixit
CRY America Calls for Support to Make Children’s Dreams a Reality CONTINUED FROM PAGE
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its media partners Star TV, TV Asia, Masala Radio, Meena Datt Radio, Dabang Radio, Telugu Hungama Radio, Voice of Asia, Indo-American News, and event sponsors Bash Sharma, Vantive Inc., Amir Dodhiya (New York Life), Discount Power, Ashiana, Deco Art Event Planners and Murali Santhana Photography. About CRY America: Child Rights and You America Inc. (CRY America) is a 501c3 non-profit organization that is driven by its vision of a just world in which all children have equal opportunities to develop to their full potential and realize their dreams. With the support of over 20,885 donors and 2,000 volunteers, CRY America supports 70 Projects in India and USA. For info visit http://america. cry.org or write to patrick.bocco@cryamerica.org
WRITERS ... TAKE NOTICE Writers are requested to limit their words to 500. The deadline for advertising and articles is 5 pm on Tuesday of each week. For more information, call 713.789.NEWS (6397) or email us at indoamericannews@yahoo.com INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
COMMUNITY
March 04, 2016
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Community Learns About Various Tax Issues at IACCGH Seminar
SHIBU PHILIP, MTax, CPA TAX & ACCOUNTING
Individual, LLC, S corp & C corp returns Trusts, Estates & Gifts tax returns Bookkeeping and Financial Statements Business entity selection and formation FBAR Report & Medicare Cost Reports
(832) 937-3054
810 Murphy Rd Ste G, Stafford, TX 77477
BY MANU SHAH
HOUSTON: IACCGH’s Outreach
Program – a tax seminar designed to educate the community on various tax issues, attracted many members of the Indo American community on February 28, at India House. CPA Ajit Thakur moderated the presentations. He highlighted three issues that were of growing concern – identity theft, tax reporting of Obamacare and online purchasing. According to the IRS database 700,000 people had their identities stolen last year. The IRS will combat this “nightmare” by henceforth requiring CPAs’ to identify their clients through their driver’s license. Regarding tax reporting of Obamacare, the matter is not clear as to whether taxpayers will get money back from Obamacare. Online purchasing besides being easy has the added benefit of zero sales tax but vendors are now required to supply the names and purchases to the IRS through the 1099K mechanism. The first presentation by CPA Imtiaz Munshi dealt with small businesses and Employment Tax issues. If a small business engages a worker as a Contract worker instead of an employee to save on Social Security taxes and benefits, the IRS will determine whether this is true based on payment patterns and other factors. Misclassification of an employee as a contractor can result in the IRS penalizing the employer 100% of the worker’s compensation and possible criminal penalties. However, the IRS allows a business to voluntarily switch the status of a worker from contractor to
employee by paying 10% of the employee’s portion of the taxes for one year (VSPP Scheme). Other points raised were: • Compensation cannot be paid to family members through a W-2 if employed in the business. • Tax benefits can be availed if your children are below 17 and being paid to help in the family business • In case a husband and wife are running the business, paying the spouse compensation can help in adding up Social Security credits and save on taxes too • Small businesses can set up a Simple IRA Retirement plan where the employee puts in 12,500 a year. • Deductions up to $1500 by the Simplified method is now acceptable to the IRS for your home office as long as the business is operating and some conditions fulfilled. The presentation by CPA Kershaw Khumbatta dealt with Annual Tax Updates. Some of the highlights were: • Taxpayers can deduct between $2,000 and $4,000 of qualified tuition expense which includes the purchase of computer equipment • Energy credits can be availed for home and business improvements like heating and cooling systems, insulation and windows. Tesla owners can also get tax credits • Teachers can claim up to $250 of unreimbursed classroom expenses. This has been made permanent in the Code • 401(K) and traditional IRA accounts can be rolled over to Simple IRA • IRS is limiting the number of refunds that are electronically deposited into a single bank account or a prepaid card to
Photos: Bijay Dixit
three only • A check is no longer proof of your charitable contribution of $250 and more. The IRS requires a bank record that supports the donation and a written receipt from the charitable organization. IRS has also introduced a very helpful Fresh Start Program - a voluntary program that encourages those who are behind on their taxes to pay up and avoid tax liens. Installment agreements and Offer in Compromise are also available with this program. CPA Mahesh Desai made an illuminating presentation on FBAR or the Foreign Bank Account Report that must be filed by June 30th. In 2014, the US Government signed an International Government Agreement (IGA) with the Government of CONTINUED ON PAGE
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INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
10 March 04, 2016
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
COMMUNITY
March 04, 2016
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Masi Magam Celebrations at Sri Meenakshi Temple
BY M.K.SRIRAM
of the visiting parents from India “We never miss Madurai or Mylapore when we are in Meenakshi Temple, Houston, where all the pujas and festivals are done just like in India”. Several of the volunteers had prepared prasadams that was distributed along with dinner arranged by the coordinators. The puja was very well conducted by Priest Manicka Bhattar, supported by other priests and temple staff. The event was coordinated by Shakuntala and Bala
PEARLAND: Masi Magam, a
special event for Lord Murugan was celebrated by Sri Meenakshi Temple on Feb 22. This auspicious day usually falls on the Magam nakshathra of the Tamil month Masa (Generally Feb 15 – March 15). This year’s event had more significance because it coincides with Maha Magam festival celebrated once in 12 years for 10 days in the temple
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at Kumbakonam, Tamil Nadu where millions of people take a dip in the holy waters of the giant temple tank. Sri Meenakshi Temple closely follows the traditions and customs of Madurai and this festival replicated the grand celebration at the ancient Thirupparankundram Murugan temple. The puranas say that Goddess Parvathy, in the form of Shakti (Supreme Power), blesses the divine weapon of Lord Muruga to ensure victory in his battle with the demon Surapadman. The abhishekam is performed on the Vel or spear of Lord Muruga. More than 100 ardent devotees participated in the beautiful puja. The priest performed Abhishekam to the accompaniment of chanting of the sacred Rudra veda mantram. This was followed by the singing of the melodious and popular Tamil hymn Kanda Shashti Kavacham that was composed by the 19th century poet Devaraya Swamigal. Dr. Bala Iyer, gave a very informative presentation on the significance of the month of Masi and this day of Masi Magam. The devotees sang several other bhajan waiting patiently for the thirai (curtain) to open after alankaram. When it did open, there was a spontaneous
cry of “Muruganukku Haro Hara, Vel Muruganukku Haro Hara” from all the devotees, seeing the spectacularly adorned deities of Lord Karthikeya with his consorts Valli and Devayanai. The final archana was performed, followed by Deeparadhana. This was truly a very divine and fulfilling experience for the devotees, aptly described by one
Iyer along with Sheila Sriram, the Festival Coordinator under the leadership of the Chairman Narayanan and Vice Chairman Padmini Nathan.
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
Contact: Gopal Aggarwal
832-539-1589
12 March 04, 2016 COMMUNITY Indo-American Heritage Day Celebration: March 26
HOUSTON:
The preservation and promulgation of a community’s history are important aspects of a civilization. Through a decade long community service, the Foundation for India Studies (FIS) has accomplished a remarkable series of projects to enrich the understanding of India’s contributions to the world as well as to the understanding of the role of the IndoAmerican community in Houston city’s multicultural tapestry. A celebration of FIS’ 10th anniversary and the completion of its 50 oral histories will take place on Saturday, March 26, at the historic and beautiful Julia Ideson library building in downtown Houston. Scheduled to take place from 1 pm to 4 pm, the celebration will include entertainment and light refreshments. A presentation will highlight the video recordings of the Oral histories. Congratulatory messages from special dignitaries will be followed by a keynote speech by Dr. Stephen Klineberg, founder-director of Rice University’s Kinder Institute for Urban Research. Having conducted a series of demographic studies about the city of Houston and the role of immigrants, Dr. Klineberg will speak on the “Changing Face of Houston.” “FIS was established in 2005 as a non-profit 501(c3) organization
Project Team (from left): Krishna Vavilala(FIS Chair), Dr. Ponnada Narayana (FIS Event Chair), Judith Hiott (HPL Chief of the Houston Area Library Automated Network, Blanca Quezada (HPL Communications Specialist), Hiren Sarma (FIS Director), Roland Lemonius (HPL Digital Projects Manager) and Joe Martinez (HPL Special Events). Photo: Allen J. Westrick (HPL)
with a vision to promote knowledge through education about India’s contribution to the world
in the field of languages, literature, arts, sciences engineering, politics, economics, and spirituality,” ex-
plained FIS founding Chairman Krishna Vavilala. The Foundation’s first successful project was the initiation of India Studies program at the University of Houston, instituted in 2006. The program, which initially began with Hindi language courses and classes in Hinduism and Jainism, was expanded to 12 courses and is now funded by the university. Students taking these courses are awarded a minor certificate in India Studies. Having successfully launched the India Studies program at the university, FIS embarked on a project called the “Indo-American Oral History Project”. Thus far, FIS has recorded 50 life stories of first-generation Indian immigrants to Houston. The project is being accomplished in partnership with the Houston Public Library (HPL) and the Houston Community College (HCC). The recordings will be stored in HPL’s digital archives for posterity. Other FIS activities have included the India Bee Quiz, aimed at educating children under age 18 about India’s history and cultural diversity. FIS has also strived to bring together Indian and American universities for exchange of students and faculty by facilitating memoranda of understanding (MOUs ). An example of such an
endeavor was the successful MOU signed between the Central University of Hyderabad and the University of Houston. In order to connect India with mainstream America through Mahatma Gandhi’s philosophy of nonviolence and peace, which Martin Luther King Jr. had adopted in his civil rights movement, FIS routinely participates in the annual MLK Grand Parade in downtown Houston and won last year MLK Grande Parade’s prestigious 2015 Grand Marshal Award. . The India Heritage Day celebration is free to the public. Parking will be free that Saturday on downtown streets. Free parking is also available in the underground parking below the main library (entrance on Lamar Street). “We encourage everyone in the community to join the celebration,” suggested Dr. Ponnada Narayana, FIS event coordinator. “It will be a great learning opportunity for young and old alike.” For sponsorship details, visit: www.foundationforindiastudies. org. For additional information, call Krishna Vavilala at (713) 7955169 or Dr. Ponnada Narayana at (281) 804-4912. RSVP by email to foundationforindiastudies@gmail.com is recommended before March 11.
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
March 04, 2016
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
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14 March 04, 2016 Sugar Land Madras Pavilion
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16 March 04, 2016
COMMUNITY
Ramayana Navaham by Disciple of HH Sri Sri Muralidhara Swamiji and Namadwaar Anniversary Celebrations MANVEL: Sri Poornimaji, an
excellent speaker and disciple of HH Sri Sri Muralidhara Swamiji, will visit Houston in March. She will present a 9-day discourse series in English on Srimad Ramayanam from Saturday March 12 to Sunday March 20 at Houston Namadwaar prayer house in the Pearland area, at 6:30 pm every evening. Sri Poornimaji will also participate in Namadwaar’s sixth anniversary celebrations to be held on March 27 from 4 to 7 pm. The events are organized by Global Organization for Divinity (G.O.D.) and Love to Share Foundation America (LTSFA). Ramayana is a great epic and most of us know its timeless story. However, when a Saint who is filled with intense devotion and true experience of the Lord speaks about Him, the listeners are truly touched and inspired in their own lives. Sri Poornimaji has had the great fortune of absorbing her Master’s experiences of Bhagavan directly from him; which makes her discourses capable of reaching straight into our hearts and igniting devotion. In addition, Sri Poornimaji has studied in great depth the various Ramayanas written by numerous saints – Sri Valimiki Ramayana, Sri Tulsidas Ramayan, Sri Kamba Ramayanam, Sri Adhyatma Ramayana and others; the commentaries of saints/scholars
on each of these Ramayanas; the life histories of numerous saints and devotees from all over India and their works and compositions – all of which she liberally references in her talks. And the icing to all of this is that Sri Poornimaji is naturally an eloquent orator, is articulate in many languages and is a music connoisseur. This discourse series promises to be extremely delectable for anyone with even a cursory interest in the Ramayana or the wonderful philosophy of Sanatana Dharma. Sri Poornimaji’s talks are so deep and en-
compassing that they sate the appetite of those craving intellectual food, those who want to savor the bhakti rasa, as well as those who just want comfort food for the soul - practical life learnings. Namadwaar’s Anniversary commemoration on Mar 27th will include LTSFA’s annual giving program – this year donations of food, clothes, baby and hygiene supplies to Pearland Neighborhood Center (a collection drive for these is currently in progress. To donate items, please call the number below). The anniversary event will also include a play by Gopa Kuteeram children, a Madhura Gitam bhajan performance by Houston singers and an inspiring talk by Sri Poornimaji. G.O.D. and LTSF invite everyone to attend both these free events. Dinner prasad will be served on all days. Prasad and flower sponsorships are welcome and appreciated. During her stay here, Sri Poornimaji will also conduct satsangs and present discourses at various Houston-area residences. For more information about Sri Poornimaji’s programs in the US, or about Namadwaar and G.O.D., please call 281-4026585, email houston.god@godivinity.org, or visit godivinity.org
Various Tax Issues at IACCGH Seminar
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India which would require financial institutions in India to divulge bank account details first to the Income Tax department in India and then to the IRS. This treaty is being implemented since August 2015. US citizens or Green Card holders who own overseas assets over $10,000 must report it to the IRS through the FBAR FINCEN Form 114. Non willful violation can allow you to come clean through the Streamlined Domestic Offshore Procedures (SDOP) but if it is willful violation the penalty is criminal prosecution and half the value of your account. As compared to the Overseas Voluntary Disclosure Program (OVDP), the Streamlined Domestic Offshore Procedures (SDOP) allows taxpayers to disclose their offshore assets with a lower penalty and a minimal tax. Taxpayers have to file 3 years of tax returns instead of the OVDP program’s requirement of 8 years of tax returns. Those will be assessed a penalty of only 5% instead of the OVDP program’s 27.5% penalty of the account. Foreign mutual funds, equity funds and hedge funds must be declared even if they are inherited. Dividends must be attached when filing Form 114. In case of inheritance, tax payers must be clear about filing obligations when bringing money overseas. (Presentations by the other speakers will be continued in next week’s issue) (Disclaimer: The tax seminar is for advisory purposes only)
INDO-AMERICAN NEWS • FRIDAY, MARCH 04, 2016 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
COMMUNITY
March 04, 2016
17
Hypnotherapy: A Powerful Tool for Human Well Being and Health Care
HOUSTON: Hypnotherapy...the
moment we hear this word, our mind immediately connects it to HYPNOSIS; which brings images of stage shows, magic and then the fear of being controlled. Perhaps, there is no other word which induces awe, curiosity, excitement, and fear all at the same time. Hypnosis and hypnotherapy is a science involving the human mind. Of course, since it is a state of the human mind, it can be utilised very productively for achieving excellence, accomplishment, success, abundance and fantastic human health. In other words, it can be harnessed to live and experience our life in its most empowering and highest possible potential. It can also be misused through bad and malicious intent. In our country, there has traditionally been fear associated with this as we have heard several stories of people being hypnotised etc and then robbed of their valuables and so on. That is Eastern Hypnosis which deals with controlling the minds of other people. This article, as well as using the state of hypnosis for excellence, growth and health care involves Western Hypnosis where the control of the humans mind being hypnotised is transferred under clinical conditions to his own deeper state, where all the power and resources of the human are found. The word hypnosis comes from the Greek word “hypnos” which means Nervous Sleep. This is a paradox because if we are sleeping we cannot be nervous or aware. If we are nervous, in reality we are very aware and we cannot sleep. So, hypnosis becomes a state of awareness where our body is sleeping but our mind is very aware and is completely present to what is happening. This state of hypnosis is experienced by all of us, at least twice a day; when we are about to go to sleep and when we are about to wake up. Hence, being a natural state
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of human awareness, IT IS COMPLETELY SAFE to experience and benefit from it. The human mind is often projected as the invisible body. So whatever happens in our body, somewhere, starts within our minds. Our mind is made up of two parts: 1. The conscious mind: This is that part of our mind which thinks, logics, analyses, feels, decides and acts on those decisions. This is what we understand of life and is 10-12% of the total mind capacity. 2. The subconscious mind: This is that part of our mind which stores everything we experience, right from our first breath in this life to all the evolutionary memories that we are carrying. This is around 88-90% of the total mind capacity which makes it around 6000 times more powerful. So, we mostly live our lives being ignorant about this part of ourselves which is 6000+ times more powerful than what we know and by default, becomes the creator of our own destiny, life and environment. All our issues, whether physical, emotional, mental or spiritual come from programs that are stored in this area. Hypnotherapy becomes a process in which a hypnotic trance is induced by the therapist for a client. In this process, the body of the client goes to ‘sleep’ but the mind is aware. The therapist then guides the client into his own subconscious mind where the cause of the problem is stored. Once this cause is discovered and understood, suitable techniques are applied to restore the human system
back to its inherent state of good health and vitality. Hypnotherapy has many applications in the area of human welfare and well being. It is not an alternative therapy. Rather, it complements regular conventional healthcare modalities very beautifully. It works at several levels: • Mental- stress reduction, confidence, overcoming fears and phobias, insomnia, improving focus and concentration, overcoming habits and addictions, performance enhancement, academic excellence. • Emotional- better grip on handling feelings, emotions, moods. A much better understanding of our relationships, family, partners, and children that then leads to greater peace and harmony in life. • Physical- strange and unexplained disorders, congenital diseases and several other issues. An individual can also learn self hypnosis to program his/her own subconscious mind through self suggestions for excellence, behavioural changes, attitudes and self improvement. The writer, Yuvraj M Kapadia, is the CEO of EKAA Integrated Clinical Hypnotherapy Foundation, India’s first and largest institution which is ISO 9001:2008 certified. He has been practicing and training students in this science since 2004 and has facilitated these teachings for thousands of people from different walks of life. For further details contact Satish Varma at 832-909-8085 or www.ahamlife.com or email us at ahamlife@ gmail.com. Registrations to workshop have started.
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18 March 04, 2016 India on Trump’s Radar
India better beware. It’s on Donald Trump’s radar of countries to
be fixed if he becomes president. The raging candidate has begun naming India alongside China, Japan and even Vietnam for “ripping off” America in trade and “taking our jobs.” “It’s not going to happen anymore, folks!” Trump thundered last week in Tennessee. As the campaign season gets hotter, India is expected to get more special mentions. It’s best to put your seat belt on and be prepared. Hillary Clinton and Bernie Sanders will also rail against “off-shoring” and “outsourcing” just as Barack Obama did during his campaign. It is in the service of the “American worker” – a looming presence in presidential elections who must be propitiated. Picture him as a big, rough guy in dungarees who is lost in the new world of technology, wandering about the wonderland. It’s a ritual forAmerican politicians to glorify this image forged at the cross and offered as proof of his dislocation. While presidential candidates amass blame on foreign countries for his plight, some in the US Congress use misleading statistics and anecdotal evidence to focus on “job stealers.” Last week, the Senate Subcommittee on Immigration and the National Interest – the name has thunder – held its annual hearing on H-1B visas presided over by senators who have made bashing Indian IT companies their calling card. Their focus is narrow, the expert witnesses they choose propagate a one-sided view and the questions they ask seem motivated. Incidentally, the subcommittee chairman, Senator Jeff Sessions of Alabama, endorsed Trump on Sunday. The hearing was meant to discredit the H-1B visa programme, which the US Congress itself created but now some lawmakers think it’s a monster to be slayed. If it means disregarding realities of the new economy, so be it. For example, Sessions said there was no need to bring foreign workers because American STEM (science, technology, engineering and maths) graduates are out of work. But Sessions’ aim is to shock and awe and he had four witnesses lined up to back his thesis. For dramatic effect, a former Disney employee related how he was laid off as an IT engineer while the company contracted H-1B workers. Robert Hoffman, a tech industry expert, says, “Forces that are causing change in IT are far bigger than H-1B. The Disney worker needs an economy that is innovating and creating jobs.” The truth is that large US companies are moving away from managing their own IT departments to concentrate on their core business. Recent cases of layoffs blamed on H-1Bs bear that out. Disney wants to focus on entertainment, New York Life on life insurance and Southern California Edison and Northeast Utilities on distributing electricity – all accused of using H-1Bs. The question facing them: should they manage IT themselves especially when technology is constantly changing or should they contract it to out? The picture is complex and not amenable to a Trump-like solution of building walls. Seema Sirohi in Times of India.
EDITORIAL/COMMENTARY
Smart Budget Under the Circumstances BY RAJIV KUMAR
How is this Budget, the third pre-
sented by finance minister Arun Jaitley, different from the earlier ones of the UPA? And, does this Budget not represent the Modi government’s turning away from the corporate sector and, in effect, reverting to a ‘socialist’approach for India’s economic development? It is possible that such questions may not have arisen had an overall economic philosophy been defined in putting forward a framework for the course of the Indian economy. Without such a framework, the Budget and indeed other policy initiatives could appear ad hoc and somewhat reactive in nature. Hence, it is important to clear this misapprehension. The Budget for 2016-17 is part of a consistent approach in putting the Indian economy on a path of self-sustained, rapid growth and employment generation while ensuring the widest possible inclusion. It, thereby, allows the Modi-Jaitley duo to deny their left-of-centre political opposition any space from which to criticise the government as being ‘anti-people’ or ‘pro-corporate’. This is both a politically savvy and an effective economic strategy that will lay the foundations for the BJP’s undoubtedly hard task of preventing a Congress comeback, putting regional parties on the defensive and making PM Narendra Modi the first nonCongress two-term prime minister. Jaitley has eschewed any grandstanding or headline-grabbing announcements. Very much in line with Modi’s style, he has focused on specific measures to improve sector performances, achieve more efficient governance by cleaning up the administrative mess and focus on physical infrastructure, which will help in both growth acceleration and employment generation. In the light of the two successive years of widespread drought and the consequent rural distress, the Budget has focused on agriculture
The government has taken a calculated risk in hoping that private investment will trigger an upturn in the flagging investment demand. Without such investment, the government’s assumption of 11% nominal growth in GDP for next year may not be realized. and rural development. A number of schemes and programs have been announced and some existing ones like the MGNREGS strengthened with the highest-ever allocation of Rs 38,000 crore. The proposal to give Aadhaar statutory legitimacy is welcome because it will provide the basis for a direct transfer of benefits to targeted beneficiaries. A pilot project for directly transferring fertiliser subsidies will lead to their eventual elimination. The proposals for reviving agriculture are typical of Modi’s approach of incremental, persistent change for achieving a large cumulative impact. The focus is on providing electricity to all villages and irrigation to each field. Thus, there is a time-bound program for electrifying all the remaining 18,000 villages; fast-tracking 89 irrigation schemes to cover an additional 28.5 million hectares; allocating an unprecedented Rs 2.8 lakh crore to gram panchayats and municipalities as directed by the 14th Finance Commission; a first-time allocation of Rs 6,000 crore for groundwater management; setting up a long-term irrigation fund of Rs 20,000 crore; rehabilitating 500,000 ponds and dug wells under MGNREGS; raising the allocation for rural roads to Rs 19,000 crore to connect the remaining 65,000 eligible habitations by 2019; promoting organic farming; establishing a unified common agriculture marketing ePlatform for wholesale markets; and a provision of Rs 15,000 crore towards interest rate subventions for farmers. It would of course be even better if these could be combined with a forward-looking analytical framework for policy initiatives.
The finance minister has shown his preference for maintaining macroeconomic stability and establishing the government’s credentials for fiscal prudence. This has been done in the hope that it will attract investors, who will now be assured of targeted inflation control and fiscal discipline. By maintaining the fiscal deficit target of 3.5% of GDP in 2016-17 and announcing measures to boost employment and growth, the finance minister has now firmly put the onus on RBI governor Raghuram Rajan to reduce interest rates in order to spur private investments. However, in the absence of a private corporate sector response in ramping up investment, the government could be left ruing its decision to not increase public capital expenditure more vigorously. As it is, public capital outlays have been increased by only 4%. Despite the large outlays on roads and railways of Rs 2.2 lakh crore, capital expenditure is a mere 1% of GDP. The government has taken a calculated risk in hoping that private investment, both domestic and foreign, will trigger an upturn in the flagging investment demand. Without such investment, the government’s assumption of 11% nominal growth in GDP for next year may not be realized. To the best of my knowledge, this is the first Budget that makes an explicit provision for absorbing part of the costs of incremental employment by firms. The government will also open 100 model career centers by the end of 2016-17 under the National Career Service and circulate a model shop and establishment Bill to all the states to replace the current law with a more simplified version. These measures, combined with the job creation through infrastructure development and under MGNREGS, will help to make economic growth more employment-intensive. Overall, a smart Budget in difficult circumstances. Rajiv Kumar is senior fellow, Center for Policy Research
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March 04, 2016
19
SoS Hosts Legal Panel to Cross Court Room Barriers, Make Personal Links H
BY KRISTI RANGEL
OUSTON: As a part of its Speakers Series, the Share Our Secrets (SoS) Program hosted a unique Judge and Lawyer Day designed to break down the walls of the court room by allowing its members to make personal connections with some of Houston’s top legal professionals. Share Our Secrets (SoS) is an educational organization founded in 2010 as a joint venture between Club24 and NetIP. SoS selects exceptional young professionals interested in lifelong learning with a desire to be plugged into the mainstream. The members have their needs addressed by interacting and learning from each other. SoS’ vision is to create an environment to allow its member grow in their profession, personal and social spheres. About 40 SoS members and invited invited guests packed the Houstonian Boardroom to hear retired Judge Carolyn Garcia, retired Judge Bonnie Hellums, Attorney John Parras, Attorney Carel Stith, and Attorney George Willy share their legal wisdom and personal stories of their professional growth. Attorney Briseida Luna, a SoS alumnus, served as moderator and facilitated a lively Q&A session. In true SoS fashion the panelist were asked to share their personal path to the judicial system. “When it comes to the legal process, people over-worry and over-spend,” shared SoS co-founder Biki Mohindra. “It is important that we understand real people make up our legal system and are not to be feared.” Former District Judge Carolyn Garcia gave the audience insight into how she has led a full life, filled with lots of pursuits that are rooted in her desire to make the lives of others better. Garcia expressed her love of family, art, and the judicial system. Garcia’s parents wanted her to be a doctor, she said. Instead, she married a doctor and pursued a law degree. It took her several years to figure out civil law was the area she would specialize. Her stellar performances in the court room would soon lead to her being offered a position as a judge not once, but twice. Garcia’s first appointment was as a district judge. Later, she was approached to a State Supreme Court Judge. Garcia felt it was important to be available for her then teenage son, so she politely declined. Her dedication and love for her family has always come first she said. Garcia went on to became a well-known and highly respected judge, whose court room was known for some the “most interesting and sometimes most difficult cases,” shared Mohindra. Today, after retiring as a sitting judge, Garcia continues to work in law as a sought-after mediator and
The Legal panel consisted of John Parras (left), Carolyn Garcia, Carel Stith, Bonnie Hellums and George Willy with moderator Briseida Luna.
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Governance of Non-profits Houston’s Philanthropic Landscape • Women in Banking • The Future of Oil • Creative Writing For more information on SoS and its Speakers Series, please visit http://www.shareoursecrets.org/.
an occasional visiting judge. She is also an artist and promotes other artists through her Carolyn Garcia Art Gallery. Garcia stressed to her audience the importance of prioritizing what you do, to achieve a balance in their lives. This balance has allowed her to be a fair, empathic and thoughtful member of the legal system, she stated. Bonnie Hellums served as the
Harris County District Family Court for over 20 years. Her huband, Family Court Attorney and ex-NFL player Carel Stith, shared with the audience his story of how seeing his wife, retired Judge Bonnie Hellums, at work in her family court room, inspired him to go to law school in his 50s. Stith explained how he wanted to practice family law and help children in the
Child Protective Services (CPS) system. Stith and Hellums stressed the importance of putting children first in all proceedings, especially in
the cases where couples are seeking divorces, by pursuing mediation first. “You can send your attorney’s children to college or your own children,” Stith cautioned the SoS audience. During the question-and-answer period, criminal defense attorney, John Parras was quick to stress the importance of everyone receiving a fair trial without having to worry about racking up huge bill. Parras explained how his billing system works in order to ensure the client’s needs come first. “My job is to help good people with once-ina-lifetime problems,” Parras said. More familiar to the largely South Asian audience was immigration lawyer Attorney George Willy. Willy shared his own immigrant story and deep connections with the South Asian community to help his audience get the intensity of his passion for immigration law. Each week,Willy hosts a free weekly call for the general public to dial in and hear new updates to immigration law in common, everyday language. Several audience members indicated that they have participated on his calls and found them quite helpful in easing their fear of the unknown. The importance of a skilled attorney, especially in the world of immigration law, was expressed by Willy. “We (lawyers) learn the ability to analyze a set of facts and break them down into pieces, then reassemble the facts to make sure they favors our case,” said Willy. At the end of the session, the panelists spent time chatting with attendees and making personal connections. The intimate environment allowed personal connections to take place. “I had perceptions of who judges and lawyers were,” said Sanjeev Shah, an IT professional and SoS member. “Now, I’ve been given a reality check and deeper understanding.”
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ENTERTAINMENT:REVIEWS/NEWS ENTERTAINMENT:REVIEWS/NEWS
Aligarh
Story: The film is inspired by the real life ordeal of 64-year-old Professor Siras (played by Manoj Bajpayee), who was suspended by the Aligarh University for being homosexual. He was ostracised by the society at large and subjected to physical and psychological torture for his sexual preference. Rookie journalist Dipu Sebastian (Rajkummar Rao) is the man who sees him for what he really is. Aligarh is their journey. Review: Some films cease to be a story or a mere depiction of an incident or an issue. You live them. They mirror the society’s mindset and in doing so, rake out your own prejudices. Aligarh is one such biographical drama that tugs at your heartstrings. While it is melancholic, the film doesn’t resort to melodrama to evoke empathy. Aligarh’s heart lies
in the beauty of its silences and the unspoken words and unrushed emotions shared between its lead characters. While decriminalising homosexuality is an underlying message, the film essentially revolves around companionship and loneliness, reminiscent of Aparna Sen’s masterpiece 36 Chowringhee Lane. Hansal Mehta captures the inner turmoil and unrest of Siras in the most understated manner. Most importantly, he gives Manoj Bajpayee the role of a lifetime and the latter infuses soul to his character. Bajpayee’s tearful eyes display an array of emotions — sorrow, vulnerability, angst and fear. Scenes where he is seen reciting poetry in fluent Marathi and being immersed in Lata Mangeshkar’s songs all by himself, is work of pure genius. These will go down in history as one of the most soul-stirring cinematic moments. While Bajpayee drives the film, Rao delivers an equally compelling performance. You look at Siras through his eyes as he shapes your perception of the man. Satya Rai Nagpaul’s cinematography and Karan Kulkarni’s background score highlight the isolation that haunts Siras. Apurva Asrani’s heartfelt writing too, deserves a mention.
21
Priyanka Chopra Presents an Oscar Bollywood actress Priyanka Chopra, who is one of the presenters at 88th Academy Awards, stunned the red carpet in one of the elegant creations designed by Lebanese designer Zuhair Murad. It was a proud moment for India when Priyanka, along with Liev Schreiber, was called on stage to present an Award in the ‘Best Editing’ category. The actress was her usual charming self as she first enlisted the nominees and then announced the winner. The Oscar for the ‘Best Editing’ went to Margaret Sixel for ‘Mad Max: Fury Road.’ After presenting the award, Priyanka also interacted with the winner. Candid pictures of the two were rather endearing. Priyanka, who has found international fame following her stint
“The eyes of others our prisons; their thoughts our cages”, this remarkable quote by Virginia Woolf pretty much sums up the film. Aligarh stays with you much after you see it, especially for Bajpayee and his nuanced portrayal of a man brutally put to shame by an intrusive and insensitive society. It’s subtlety, redefined. -indiatimes.com
Anupam Kher March 7, 1955
on American TV show ‘Quantico,’ looked ravishing in a structured cage bustier mermaid dress in white silk tulle adorn with 3D shimmering climbing flowers at the red carpet of the event underway in Dolby Theatre here on Sunday. The gown was taken from designer’s spring summer 2016 collection. Earlier Priyanka’s ‘Bajirao Mastani’ co-star Deepika Padukone wore one of the red lace gowns by the same designer at one of the Indian awards ceremonies. The National Award winning actress completed the look with diamond drop earrings, a clutch and hair neatly tied in a low ponytail. The make-up was also minimal. -indiatimes.com
Fardeen Khan
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22 March 04, 2016
SPORTS
Virat Kohli, Bowlers Put India in the Asia Cup Finals BY ANDRERW FIDDEL FERNANDO
R
MIRPUR (ESPN Cricinfo): India
142 for 5 (Kohli 56*, Yuvraj 35) beat Sri Lanka 138 for 9 (Kapugedera 30, Siriwardana 22, Pandya 2-26, Ashwin 2-26) by five wickets. Virat Kohli stroked his third fifty in as many T20s against Sri Lanka to send his team cruising to the Asia Cup final, after a tight bowling performance had restrained the opposition to 138 for 9. Kohli arrived with India wobbling at 16 for 2 in the fourth over, but soon enlisted Suresh Raina, then Yuvraj Singh, for support, in what was eventually a comfortable chase. The winning runs were hit with four balls and five wickets to spare. Kohli’s share was a 47-ball 56 not out. It had been Ashish Nehra and Jasprit Bumrah who earned India the initial impetus, however, taking out a batsman apiece during their miserly new-ball spells. Sri Lanka coughed and spluttered right through their innings, losing wickets just as a significant partnership seemed to be forming. Chamara Kapugedera top-scored with 30 from 32, before late blows from Thisara Perera and Nuwan Kulasekara propelled the team to what was a half-decent score, given the conditions. Dew would make defending it substantially harder, however. Bumrah, Hardik Pandya and R Ashwin all took two wickets apiece for India, and Nehra made a customary early breakthrough. Ashwin was typically crafty, but the seamers’ scalps were largely the result of good discipline, as Sri Lanka batsmen attempted to manufacture big strokes following long, quiet spells. Kohli was in good touch from early in his innings, smoking Angelo Mathews through midwicket fifth ball, before pumping Nuwan Kulasekara through point before the end of the Powerplay. He’d hit one more sublime cover-drive off Dushmantha Chameera, in the first half of the innings, but largely laid low after that, mining singles and twos from the outfield instead. He ticked along, and Raina followed suit - the pair putting on 54 together for the third wicket. When Raina departed in the 12th over, India were marginally shy of
India Women Thrash Sri Lanka in 3rd ODI
Virat Kohli looks on after playing the ball on the off side, India v Sri Lanka, Asia Cup 2016, Mirpur, March 1, 2016.
the required rate, but Kohli’s assured presence warded off panic. He let Yuvraj play himself into some kind of form, and kept India striding confidently toward the total. Memorably bludgeoning huge, consecutive sixes off Herath, Yuvraj also produced his most substantial innings since early 2014 - an 18-ball 35. Virat Kohli and Suresh Raina steadied India’s chase after an early wobble © Associated Press Pandya didn’t last long against Herath, but MS Dhoni was on hand to assist Kohli with the finish. Kohli crossed fifty in the penultimate over, then lifted Herath over cow corner to reap the winning runs. Earlier, Dinesh Chandimal creamed a four second ball, then failed to score off the next eight deliveries, before sending an inside edge to the keeper off Nehra. Tillakaratne Dilshan’s modest form persisted at the other end, though he pilfered a few runs behind the wicket, before hooking Pandya to fine leg, to end on 18. With Shehan Jayasuriya also having been dismissed cheaply Sri Lanka had slipped to 31 for 3 at the beginning of the seventh over. India’s seamers had made good use of the juice in the pitch - Bumrah threatening batsmen’s
edges, in particular. Mathews and Kapugedera attempted to set down a platform for Sri Lanka’s hitters, but their going was slow. Halfway through the innings, Sri Lanka had mustered only 47. Just when Mathews finally began to find the boundary, hitting three fours from five balls, he got himself out to an innocuous ball. Attempting to run a single to third man, Mathews played Pandya back onto his stumps, to finish with 18 from 19 balls. There were flashes of aggression from Kapugedera and Milinda Siriwardana, who put on 43 runs off the 31 balls they had together. Siriwardana even launched Ravindra Jadeja into the sightscreen, then nurdled him to the third man fence, in successive deliveries. But, as has often been the case in recent India v Sri Lanka matches, Ashwin dealt a decisive blow, removing Siriwardana in the 17th over, before Dasun Shanaka ran himself out off a free hit, a few balls later. Kapugedara’s departure, though, brought a little acceleration. Thisara Perera bludgeoned two fours and a six in his first five balls, before charging Ashwin one too many times, in the penultimate over. Having antici-
pated the advance, Ashwin slipped the ball wide of off stump - conceding the extra, but claiming the wicket. Replays would show, though, that Perera shouldn’t have been given out stumped. Somehow, the batsman had managed to swing his bat back into the crease before Dhoni snapped the bails off, despite the square-leg umpire having given him out immediately. Late leg-side blows from Kulasekara gave the innings a final, if futile, fillip. Andrew Fidel Fernando is ESPNcricinfo’s Sri Lanka correspondent.
ANCHI: India Women 91 for 1 (Mandhana 43*, Vanitha 34) beat Sri Lanka Women 89 for 9 (Lokusuriyage 25*, Bisht 3-17) by nine wickets India Women’s spinners stifled the Sri Lanka Women batting, squeezing them to 89 for 9 in their 20 overs, before the top three knocked off the target in 13.5 overs to complete a nine-wicket thumping in the third T20I in Ranchi. The win secured a 3-0 series sweep for India. Left-arm spinner Ekta Bisht was the standout bowler for India, claiming 3 for 17 in her four overs, while offspinners Anuja Patil and Deepti Sharma took 3 for 30 in eight overs between them. In a good team effort, all of India’s bowlers except Poonam Yadav kept their economy rates below 5. After opting to bat, Sri Lanka got off to a poor start, losing Oshadi Ranasinghe fourth ball, before captain Shashikala Siriwardene was run out four balls later. A 33-run partnership between Nipuni Hansika and Chamari Atapattu provided Sri Lanka respite, but it was brief - when Bisht had Hansika stumped off the first ball of the tenth over, it opened a passage of play in which five wickets fell for 11 runs in 5.3 overs. An eighth-wicket partnership of 39 off 29 balls between Eshani Lokusuriyage and Ama Kanchana then steered the tourists to their final total of 89 for 9.
Kohli Fined for Dissent
M
IRPUR: India batsman Virat Kohli has been fined 30% of his match fee for violating the ICC Code of Conduct by showing dissent after he was given out in the Asia Cup game against Pakistan in Mirpur. Kohli admitted to the offence and accepted the penalty imposed by match referee Jeff Crowe. Replays of the delivery showed that Kohli had inside edged the Mohammad Sami delivery.
Ekta Bisht: solid bowling performance.
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IndiGo Says Airbus will Deliver 24 A320neo Aircraft by March 2017 BY P.R. SANJAI
MUMBAI: IndiGo, India’s largest
airline by market share, on Monday said aircraft manufacturer Airbus SAS has confirmed that beginning March, it will deliver 24 fuel efficient A320neo aircraft by March 2017, as compared to the original plan to deliver 26 A320neos. In December, InterGlobe Aviation Ltd that runs IndiGo had said that the delivery of the first fuel-efficient Airbus A320neo has been delayed and there could be additional delays, citing “industrial reasons” at European plane maker Airbus SAS. Induction of A320neos is critical for IndiGo, which has been consistently profitable since 2009, a feat unrivalled by any other domestic airline, to reach the next level of revolutionary growth. “The new A320neo powered by Pratt and Whitney’s fuel-efficient geared turbo fan engines will enable us to structurally reduce our costs as fuel continues to be the single largest element of our cost structure. This also marks the beginning of the next phase of our growth and will enable us to make air transportation far more accessible for the people of India,” said Aditya Ghosh, president and whole-time director of IndiGo. In response to numerous questions received by IndiGo over the last few months, the company wants to take this opportunity to provide additional information regarding its short and medium term operational outlook, IndiGo said in a statement on Monday. The air travel market in India has continued to grow at one of the highest rates in the world. During the last 12 months ended 31 January 2016, total domestic passengers in India increased by 21% and, for the same
IndiGo expects to continue with its strong operating performance and healthy cash generation, says president Aditya Ghosh
Photo: Ramesh Pathania/Mint
period, total passengers served by IndiGo increased by 35.5%. To address this strong demand, IndiGo has also entered into attractive leases for seven more used A320 aircraft which will be inducted between March and November of 2016. Overall, on a year-on-year (y-o-y) basis, IndiGo expects to grow its fleet by 13 aircraft in the fourth quarter of fiscal 2016, followed by y-o-y increases of 11 aircraft in the first quarter, 21 aircraft in the second quarter, 27 aircraft in the third quarter and 24 aircraft in the fourth quarter of fiscal year 2017. “Also, in the fourth quarter of fiscal year 2016, while year-over-year capacity is expected to grow by about 19%, EBITDAR (earnings before interest, tax, depreciation, amortisation and rental) margins are expected to be strong at around 35% to 37% and at last year’s levels. However, for the fourth quarter, year-over-year revenue is expected to increase by
6% to 8% and net profit will also be impacted due to the exchange rate movement in the Indian rupee versus the US dollar,” IndiGo said. For fiscal 2017, total fleet strength is expected to increase by about 22.4% on a y-o-y basis, allowing IndiGo to absorb additional manpower in its operations that were hired in expectation of taking delivery of nine A320neo aircraft between December 2015 and March 2016. “With the resolution of the delivery of A320neos, IndiGo expects to continue with its strong operating performance, growth in profitability and healthy cash generation. India remains one of the most under penetrated aviation markets in the world. The combination of our unique structural cost advantages, superb product quality and large fuel-efficient aircraft orders would enable us to deliver superior financial performance for a long period of time,” Ghosh added. Currently, with its fleet of 102 new
Airbus A320 aircraft, the airline offers over 700 peak daily flights connecting 35 domestic destinations and five international destinations, Bangkok, Dubai, Kathmandu, Muscat and Singapore. Airbus had informed about potential delays of A320neo aircraft delivery on 17 December 2015. Since 18 December to till date, shares of IndiGo fell 27.3%. On 10 February the stock went
below its offer price of Rs.765 for the first time since listing. As the launch customer of the A320neo, IndiGo was waiting eagerly to take delivery of the planes that will help it cut fuel costs by 10-15%. IndiGo had ordered 100 Airbus A320 aircraft in June 2005, 180 A320neo aircraft in June 2011 and 250 A320neo aircraft in August 2015. Each of these was the largest single aircraft order by number from Airbus at the time the order was placed, according to the plane maker. Domestic brokerage Motilal Oswal had cut its earnings forecast for IndiGo for 2016-17 and 2017-18 by 18% to factor in delays in the A320neo deliveries and higher employee costs. “...the delay in deliveries of A320neos also impacted profitability in the 9MFY16 period, as it had invested in staff and other overheads in anticipation of higher capacity, which did not materialize. Lastly, the delay in the delivery of the new aircraft (which impacted deferred incentives), and depreciation in Rs./$, led to aircraft rental costs increasing by 36% year-on-year in 9MFY16, higher than our estimates,” Kotak Securities had said last month. -livemint.com
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Wrap-3
March 04, 2016
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