Tag: create

  • Khattar tells officials to create separate dashboard for all properties of HSVP

    Khattar tells officials to create separate dashboard for all properties of HSVP

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    Chandigarh: Chief Minister Manohar Lal Khattar on Monday directed the officers of Haryana Shehri Vikas Pradhikaran (HSVP) to develop a separate dashboard for all the properties of the state’s urban development authority.

    Details such as property location and owner’s name would be registered in the dashboard, he said.

    He also directed the officials that the entire record of the HSVP including the documents of the properties should be digitised.

    The chief minister, who is also the chairman of HSPV, was presiding over the 125th meeting of the authority here, according to an official statement.

    In the meeting, Khattar gave ex-post facto approval for the construction of multi-storey car parking and commercial complex by Faridabad Smart City Limited on about 4,000 square metre land in Sector-18A of Faridabad.

    Post facto approval was also given for the issuance of allotment letters of ownership rights to 131 shopkeepers and Antyodaya Market being constructed in place of the Rehri Market; as per the instructions of the Chief Minister, after the incident of fire in the Rehri market of Sector-9, Panchkula last year.

    Apart from this, pucca shops will be set up as Antyodaya Market in place of Rehri markets in Sectors 7, 11 and 17 of Panchkula.

    The chief minister said pucca shops should be constructed in the cities where Rehri markets are functioning.

    On this, HSVP Chief Administrator Ajit Balaji Joshi informed the chief minister that the HSVP has a proposal to set up Antyodaya Market in place of Rehri markets in Gurugram, Faridabad and Karnal.

    Khattar instructed the officers to constitute a committee to prepare a list of the cities where buildings or any other type of construction or activity has been done on the HSVP’s land or on the land of other departments.

    It was also apprised in the meeting by the officials that the HSVP has 5,418 residential, 2,688 commercial and 230 institutional properties, out of which 4,804 residential, 2,305 commercial and 205 institutional properties have been sold through e-auction.

    Khattar said that on the lines of the scheme for setting up cooperative group housing societies for MLAs, employees, journalists and lawyers in Panchkula, permission can be given to set up cooperative group housing societies for former MLAs as well.

    Chief Secretary Sanjeev Kaushal, Chief Principal Secretary to Chief Minister, D S Dhesi, Additional Chief Secretary, Finance Department, Anurag Rastogi, Additional Chief Secretary, Industries and Commerce Department, Anand Mohan Sharan, were among other senior officers present in the meeting.

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    #Khattar #tells #officials #create #separate #dashboard #properties #HSVP

    ( With inputs from www.siasat.com )

  • Three Essential Tips to Create a Captivating Book Cover

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    Everyone says that it’s bad to judge a book by its cover. Yet, everyone does so. And that is one of the essential reasons book covers matter so much to the reader. After all, they are the first point of contact between the author and the reader.

    While your book’s manuscript primarily keeps your reader hooked, the cover acts as a lure. A good book cover can make a potential reader walk from aisles away to see what your book is about. And that is why successful authors worldwide pay attention to this aspect.

    That is why paying attention to the book cover is as important as any other part of your book. Creating something unique and inspiring will take a lot of time, effort, and dedication. You will surely know once you are there.

    If you are done with your manuscript and are concerned about the book cover, here are a few essential tips that can help you make the right call.

    1.      Understand the Elements

    A good book cover is not all about choosing the right color scheme and placing eye-catching art. There are many more components that are important to complete a book cover. Here are some of the important parts that play a critical role in completing your book cover.

    1.1.                        Image

    Choosing the right picture, art, or graphic illustration for your book can be one of the most important parts of your book. It is the primary thing that will attract your audience. Therefore, you want to make sure that it gets the job done right by reflecting on what’s inside.

    Whatever you use as an image of your book must focus on creating a mood and anticipation for the reader. They must get just the right hints to contemplate and understand why it’s the right book and needs to go home with them.

    1.2.                         Typography

    There are more than half a million fonts in the world. Each font carries a mood and tone that can help you in developing the perception of a reader. Therefore, it’s very important to choose a font that reflects what’s inside your book.

    When you work with professional freelance book cover designers in the UK, they can also help you in tweaking the fonts and making them unique to create an innovative impression. But it’s important to keep it simple enough to be read easily.

    1.3.                        Title

    Many authors choose to write the title of their work after they complete their manuscript. However, it is important to start brainstorming early. This practice ensures that you have many brilliant ideas to choose from as the task of writing comes to an end.

    Make sure that you make your titles a reflection of what lies inside. The goal is to let the potential reader find what they are looking for and give them a feeling of what the book will be about.

    1.4.                         Panel Copy

    The panel copy is usually the top part of the back of your book cover. It gives the potential readers a brief summary of your book. But remember not to reveal too much in this section. Instead, focus on creating intrigue for the reader.

    Think of the panel copy of your book as the trailer of a movie. Your panel copy should share enough with the reader so they can ask themselves why your book needs to go home with them.

    1.5.                        Reviews and Endorsements

    While a good panel copy is enough for most readers to make their final decision, some readers are interested in knowing the selling points of your book. That is why every book must have a section to share reviews and endorsements.

    This section can help establish your credibility in the eyes of the reader. Do not be scared of sharing your small achievements. Every step counts in this section of your book.

    1.6.                        Author’s Bio

    Many people are interested in knowing more than what the book is about. They also want to understand the person who wrote this work. Therefore, every book must have a short and sweet author’s bio to connect with the reader.

    This section must be as short as three sentences. Make sure to add a link to your author’s website and social media handles in this section to connect with the readers.

    2.      Ask for Input

    Every author needs an objective pair of an eye during every step of writing and publishing their book. Things are no different when choosing the right cover. While you may be overwhelmed by so many options, it’s always a good idea to ask your trusted fellow for input.

    These fellows can be a part of your literary circle, friends, or family. Just make sure that they have read your book and understand its characters, theme, and tone. This practice can help you determine whether your book cover is sending the right message or not.

    You can also survey some people who have no idea what your book is about. Show them the cover and ask them what they think the book will be about. It can help you see if your cover is going in the right direction or if everything needs to go back to step one.

    3.      Use Contrast

    A right contrast can help you in catching the attention of a reader from feet away. Even if it’s not the genre they came to explore at the bookstore, the contrast may make them consider a bit of change in their reading routine.

    The best part is that it’s not hard to create a contrast, especially when working with professional illustrators. A right contrast can help you make a statement to impress the reader.

    The most common contrast is black and white, but of course, you can use dark and light colors from the color wheel to express the tone of your book. An eye-catching contrast can also help you highlight the focal point of your book and let the reader know what their reading journey will feel like.

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    #Essential #Tips #Create #Captivating #Book #Cover

    ( With inputs from : kashmirlife.net )

  • Govt to boost electronics manufacturing to Rs 24 lakh cr, create 10 lakh jobs

    Govt to boost electronics manufacturing to Rs 24 lakh cr, create 10 lakh jobs

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    Bengaluru: The Narendra Modi government’s target is to increase electronics manufacturing capability to Rs 24 lakh crore by 2025-26, which will also help create over 10 lakh jobs, Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, said on Friday.

    Addressing a gathering of students here as part of the ‘New India for Young India Initiative’, the minister said that young Indians are driving the country’s progress in India’s ‘Techade’.

    “There are more than 90,000 startups, including 110 unicorns, in which Young Indians are playing a big part. They have achieved their success due to their hard work and efforts and not because of any connections or famous last name, ” he told a packed audience.

    Chandrasekhar had an interactive session with students in which, he answered their queries ranging from skilling, R&D and innovation ecosystem, entrepreneurship opportunities and Microsoft co-founder Bill Gates’ recent meeting with him.

    On a query about the Silicon Valley Bank (SVB) crisis and Indian government’s role to mitigate the woes of the startups, the minister said, the country’s banking system is much more resilient and stronger in comparison to any other country’s banking system.

    “The startups should, therefore, opt for Indian banks as their preferred banking partners,” he added.

    The minister had earlier said that over a billion dollar worth of capital “attributable to Indian startups” was stuck in deposits at SVB when it collapsed.

    Chandrasekhar also informed that over $250 million have been transferred from SVB to GIFT City banks in the last few days.

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    #Govt #boost #electronics #manufacturing #lakh #create #lakh #jobs

    ( With inputs from www.siasat.com )

  • There’s a new push to create a Space National Guard. Lawmakers say the price is right.

    There’s a new push to create a Space National Guard. Lawmakers say the price is right.

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    space force national guard 28071

    Lawmakers from seven states and one U.S. territory that contain National Guard units with military space missions are banking that this year they’ll sway the administration and skeptical senators that a Space National Guard is the best way to provide part-time forces to the fledgling Space Force. But they still have a high hurdle to clear.

    Advocates are aiming to convince cynics the true cost is much lower than administration estimates that drove the initial opposition. They’re also banking on a long-delayed report from the Air Force that outlines how to best structure the space guard and reserve mission. And one top proponent is making the case directly to the Space Force’s top officer.

    “I think momentum is building,” Rep. Jason Crow (D-Colo.) said in an interview. He argued that the current structure, in which members of the Air National Guard with space-related duties would stay in the Air Guard, is “not workable in the long term.”

    The Space Force has a complex mission, which includes keeping an eye on missile warnings, monitoring space launches and detecting nuclear detonations. So it will likely rely heavily on part-time personnel, who bring high-tech experience from their day jobs and who don’t want to commit to the military on a full-time basis. But those weekend warriors are now in the Air National Guard, an arrangement that proponents of a new outfit argue complicates training and staffing of the Space Force.

    Several prominent lawmakers from both parties support creating a separate Space Guard. Crow and Colorado Republican Doug Lamborn, who chairs the House Armed Services panel that oversees military space issues, are reintroducing a Space Guard bill, while Sens. Dianne Feinstein (D-Calif.) and Marco Rubio (R-Fla.) are spearheading legislation in the Senate. National Guard brass are also on board. Several state Guard leaders have publicly called for the shift and Guard Bureau Chief Gen. Daniel Hokanson supports the move.

    The White House and the Pentagon aren’t sold, however, and neither is much of the Senate, as many prefer to wait and see what Air Force and Space Force leaders propose.

    Crow plans to make his case directly to Space Force brass. The Colorado Democrat said he’s spoken to Chief of Space Operations Gen. Chance Saltzman about the issue several times, including at the Munich Security Conference last month.

    “We’re going to follow up,” Crow said. “He agreed to take a meeting with me to discuss it.”

    Fear of a budget blowup

    The biggest hurdle for proponents — which includes space-heavy states such as Colorado, Florida, California and Hawaii — is convincing the Biden administration that creating a new Guard branch out of the current space missions housed in the Air National Guard won’t be as expensive as they fear.

    Administration officials “strongly oppose” creating a separate Space National Guard, the White House declared last July, citing the “additional overhead” that would come with a new component.

    The Congressional Budget Office assessed the costs of creating smaller and larger models for a Space National Guard in a 2020 report.

    A smaller Space Guard — based on transferring 1,500 personnel from existing Guard units with space missions in Alaska, California, Colorado, Florida, Guam, New York, Ohio and Wyoming — would result in $100 million in additional annual operating costs, the nonpartisan scorekeeper assessed.

    The CBO also examined a larger model in which a Space National Guard is a size proportional to the Air National Guard relative to the active-duty Air Force, and could have a presence in every state and territory. CBO estimated doing so would balloon the hypothetical organization to 5,800 personnel.

    The nearly $500 million annual price tag is a figure that OMB cited when arguing against creating the organization. The nonpartisan analysis group is not currently working on an update to the 2020 report, a spokesperson said in a statement.

    That sticker shock is a concern that mired a push to create an active-duty Space Force years ago. But Space Guard advocates say the hefty price tag doesn’t accurately capture their plans.

    “I think there is a substantial misunderstanding about what it is we’re trying to achieve here. We’re simply trying to grandfather in the existing states and territory that have Space Guard and reserve components into a Guard,” Crow said. “We’re not trying to create a new Guard infrastructure in every state. And that seems to be what OMB thinks we’re trying to do.”

    Proponents, including the National Guard Bureau of the United States, argue the costs are wildly overstated, with some advocates arguing the actual cost could even be as low as $250,000 and would not require any new facilities.

    ‘Organizational disconnect’

    Supporters contend that, just like other branches, the Space Force needs its own part-time cadre to draw the personnel it needs to fully carry out its mission.

    Lawmakers also argue that the Space Force won’t truly be on par with other military branches while its Guard personnel continue as part of the Air National Guard, which they warn would undermine training, recruiting and funding.

    Feinstein said doing so will fix an “organizational disconnect” between active-duty and Guard personnel in the Space Force.

    “A Space Force National Guard would save money because otherwise we will eventually have to replace the capabilities we have in the Guard today with new units created from scratch inside the Space Force,” Feinstein said in a statement. “A Space National Guard should have been created when Space Force was created.”

    Air National Guard units that are conducting space missions have an unusual relationship with the Space Force. While they fall under the Air Force’s command structure, the personnel receive operational tasking orders from the Space Force.

    The arrangement makes it difficult for these Air National Guard personnel to get appropriate training because that is overseen by a different service, said Lt. Gen. Michael Loh, head of the Air National Guard and former Colorado adjutant general.

    “I can’t right now send them to basic military training with the Space Force [the service] they would actually be going off to combat with,” Loh told reporters last year at the Air & Space Forces Association annual Air Warfare Symposium.

    But opponents consider the move a power play by Guard and state leaders, and even some leaders who see a Space Guard as inevitable aren’t convinced it’s needed just yet.

    On top of the potential cost, they contend a Space Guard would mean extra bureaucracy and overhead when the Space Force was intended to be as streamlined and cost-effective as possible when it was created.

    Space Force brass, meanwhile, haven’t publicly endorsed the concept, instead floating a hybrid model that draws on both active-duty and reserve guardians.

    Senate skeptics

    Some on the Armed Services Committees are waiting to see the Space Force’s proposal before choosing sides. The service is expected to submit a proposal for a reserve component as part of the fiscal 2024 budget request.

    “There’s a little bit of hesitancy without a solid, solid plan to impose the entirety of the [National Guard Bureau] structure on top of such a small and agile service,” said one congressional aide, who was granted anonymity to discuss the debate.

    Plan or none, the debate is expected to play out again in annual defense policy legislation. Senate Armed Services Chair Jack Reed (D-R.I.) — whose support is needed for a Space Guard proposal to pass the upper chamber — isn’t swayed yet. Instead, Reed says he’s waiting to see what Saltzman and Air Force Secretary Frank Kendall recommend.

    “I don’t sense the movement,” Reed said of senators supporting a Space Guard. “But we really haven’t brought it up.”

    Only one of Feinstein and Rubio’s eight cosponsors, Florida Republican Rick Scott, sits on the Senate Armed Services Committee.

    House Armed Services is likely to approve a Space Guard as part of its version of the National Defense Authorization Act, as it has done with little controversy over the past two years. But even House leaders who support the concept aren’t sure the time is right for a full-fledged Guard.

    Decorating the Christmas tree

    House Armed Services Chair Mike Rogers (R-Ala.) said he’s “fine” with Crow and Lamborn’s proposal being included when the committee considers the defense bill in the spring, but said congressional leaders would ultimately make a call based on whether the Space Force agrees.

    “This is one of those things that I want the Space Force to have what they need, but I’m gonna let them do it at their pace,” Rogers said. “I think it’s inevitable that it’s going to happen. I just don’t think it’s gonna happen right away.”

    It’s unclear so far what the Pentagon will recommend or if top brass will ultimately come around to agree with a standalone Guard branch.

    Saltzman stuck to the Pentagon line that a dedicated Space National Guard isn’t currently needed during his Senate confirmation last September. He reiterated the service’s stated goal of a hybrid model that includes full and part-time guardians in a “single component.”

    And the argument over how best to train, equip and supply part-time talent to the Space Force may get overshadowed by other more heated space debates on Capitol Hill. The Colorado and Alabama delegations are engaged in a political slugfest over the fate of the permanent headquarters of the U.S. Space Command.

    But a slow and steady buildup could win again if the most vocal advocates of the newest military branch aren’t anxious to move ahead with a separate Guard.

    “It’s like a Christmas tree. You start with just the tree. Then you start adding lights and then you start adding decorations,” Rogers explained. “We just put the tree up that first year and what we have done subsequently has just been layering on things. And that’s always the way I’ve envisioned the Space Force growing.”

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    ( With inputs from : www.politico.com )

  • Bengaluru: Cyclothon organised to create awareness on kidney health

    Bengaluru: Cyclothon organised to create awareness on kidney health

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    Bengaluru: To create awareness on kidney health, the Manipal Hospitals in Bengaluru organised a second edition — bean-shaped (kidney) Cyclothon 2.0 in Bengaluru on Sunday.

    Divided into two loops covering 100 km, the Cyclothon was completed in 2.5 hours, where the first loop covered 47 km, starting from Old Airport Road, passing through Millers Road, Malleshwaram, Yeshwanthpur, Hebbal, and returning to Old Airport Road.

    The second loop covered 53 km, starting from Old Airport Road, and on to Whitefield, Varthur Road, Sarjapur, Jayanagar, and back to Old Airport Road.

    The cyclothon was joined by over 600 participants including doctors, 10 celebrities, and 23 influencers who participated and used their voice to spread the message of kidney health, preventive interventions, and enhanced accessibility to kidney care across the city.

    Prominent Sandalwood celebrities, including Praveen Tej, Manvita Kamath, Vikky, Arun, Nagabhusana, Sonu Gowda, Vasuki Vaibhav, Shwetha Shrivastav, Kushee Ravi and Amrutha Iyengar stepped forward to support the cause.

    Dr. H. Sudarshan Ballal, Chairman, Manipal Hospitals flagged off the event at Manipal Hospital Old Airport Road, followed by Hospital Directors in their respective units across Bengaluru.

    “We have a large number of hospitals in different parts of the city that could connect the dots in the shape of a kidney. And what better form of awareness event could be other than a cyclothon to promote kidney health?” he said.

    The cyclothon concluded with a pledge to support kidney health.

    This event also expressed gratitude towards the collaborative efforts of nephrologists and urologists who work together to provide the best possible care.

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    #Bengaluru #Cyclothon #organised #create #awareness #kidney #health

    ( With inputs from www.siasat.com )

  • Frequent parole to Gurmeet Ram Rahim may create law and order problems: Punjab govt

    Frequent parole to Gurmeet Ram Rahim may create law and order problems: Punjab govt

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    Chandigarh: The Punjab government has told the high court that granting frequent parole to Dera Sacha Sauda chief Gurmeet Ram Rahim Singh, who is serving a 20-year jail term for raping two disciples, may lead to law and order problems in the state.

    The Punjab government’s response to a Shiromani Gurdwara Parbandhak Committee (SGPC) petition against giving parole to the dera chief is in contrast to the Haryana government’s reply to the petition.

    Supporting parole for Ram Rahim Singh, the Haryana government had said in the Punjab and Haryana High Court that he does not fall under the definition of a hardcore prisoner and cannot be termed a serial killer. He has also been convicted in two murder cases.

    The dera chief was granted 40-day parole on January 20.

    The SGPC, an apex gurdwara body, had recently challenged the parole order in Punjab and Haryana High Court.

    The Punjab government has cited the “mayhem” created by supporters of the Dera chief in Haryana’s Panchkula when he was convicted in the rape case in 2017 as a reason for its stand.

    It also told the court that some sections of society may compare the frequent temporary parole to the dera chief to the cases of some people who have been in jail for a long time. Several Sikh bodies, including the SGPC, have been demanding the release of ‘Bandi Singhs’ (Sikh prisoners), which they claim are lodged in jails despite having completed their sentences.

    “In the present case, respondent number-9 (the dera chief) has been granted parole a number of times in the last year. That information has been obtained from concerned quarters as per which the temporary release of respondent number 9 from custody is likely to create disturbance in the law and order situation in the state of Punjab,” Punjab ADGP (Law and Order) Arpit Shukla said in an affidavit filed in the court.

    According to the Punjab government, granting frequent parole to Ram Rahim Singh has led to resentment in a particular religious community and has created a “festive and celebratory atmosphere” among the dera followers, which is highly resented by some sections of the society.

    “That there is an apprehension of disturbance to law and order situation in the state of Punjab as persons opposed to the respondent no 9 may hold protests in the state of Punjab which may extend to activities like burning effigies/traffic jams/dharnas to express displeasure against the temporary release of respondent no -9,” the Punjab government told the court.

    In 2021, the dera chief, along with four others, was also convicted for hatching a conspiracy to kill Ranjit Singh, a dera manager. The dera chief and three others were convicted in 2019 for the murder of a journalist more than 16 years ago.

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    #Frequent #parole #Gurmeet #Ram #Rahim #create #law #order #problems #Punjab #govt

    ( With inputs from www.siasat.com )

  • YouTube Music now let users create customise radio stations

    YouTube Music now let users create customise radio stations

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    San Francisco: Google is rolling out a new feature to music streaming service ‘YouTube Music’, which will allow users to create their own custom stations based on specific artists.

    Users can access the new “Radio Builder” feature by navigating to the “Your music tuner” section of the YouTube Music homepage in the iOS or Android application, reports The Verge.

    Users can choose up to 30 artists when creating a custom station, and can also specify whether they want to hear music just from those artists or from artists that are similar to those they have chosen.

    Also, users can instruct it to play songs they know, songs they haven’t heard before, or a combination of the two while adding filters to allow users to tune the mix.

    According to Google spokesperson Paul Pennington, all users can access the feature, whether they are a paying subscriber or a free user, the report said.

    Last December, it was reported that the company was testing this feature.

    Meanwhile, earlier this month, the music streaming platform had reportedly rolled out the redesign of the “album view” for Android and iOS.

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    ( With inputs from www.siasat.com )

  • Unable to afford a wedding photographer, man uses hotel’s CCTV footage to create his wedding album

    Unable to afford a wedding photographer, man uses hotel’s CCTV footage to create his wedding album

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    Allocating your wedding budget can be one of the hardest tasks when planning your big day. With so many elements to consider, it is easy to lose track and mount up if not accounted for initially. With the advent of social media, especially Instagram, the cost of wedding photography has risen exorbitantly and in some weddings, the cost of wedding photography takes the maximum share.

     

    In Indore, a groom got so fed up with the high quotes even from the local wedding photographers that he devised a new way to create his wedding album. Reportedly, the man took all the CCTV footage of the wedding venue, hotel, and edited the footages himself to create his wedding album.

     

    The photos and videos in album were black and white, to which the groom said that “monochrome” was the theme of his wedding.

     

    Speaking to The Fauxy, one of the groom’s friends said “Alok (Groom) was worried about the wedding photography and the bride was more excited about the wedding album than the wedding itself. And after seeing the quotes by the local photographers he decided not to go ahead with them. Soon he claimed that his engagement ring is stolen and used it as an excuse to get all the CCTV footages of the hotel during wedding time. Even during his wedding he was learning photo and video editing. He took out time during honeymoon and created his wedding album“.

     

    Bride, who was very happy with the wedding album and its theme monochrome, has now deleted her Instagram account out of embarrassment.

     

     

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    [ Disclaimer: With inputs from The Fauxy, an entertainment portal. The content is purely for entertainment purpose and readers are advised not to confuse the articles as genuine and true, these Articles are Fictitious meant only for entertainment purposes. ]

  • Air India-Boeing deal to create 1M jobs in US: US Prez Biden to PM Modi

    Air India-Boeing deal to create 1M jobs in US: US Prez Biden to PM Modi

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    Washington: The landmark Air India-Boeing deal will create up to 1 million jobs across 44 states in the US and will further deepen bilateral ties, President Joe Biden has told Prime Minister Narendra Modi.

    Boeing and Air India announced a mega deal on Tuesday under which the Tata Group-owned airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm orders valued at USD 34 billion at list price.

    The deal will also include customer options for an additional 50 Boeing 737 MAX and 20 Boeing 787, totalling 290 airplanes for a total of USD 45.9 billion at the list price.

    While discussing the landmark deal with Prime Minister Modi, Biden said, he was looking forward to deepening the ties between India and the US.

    This purchase will support over one million American jobs across 44 states, and many will not require a four-year college degree, Biden said in the call.

    The Air India order is Boeing’s third biggest sale ever in dollar value and second in terms of the number of planes.

    During the call, the two leaders also reaffirmed the strength of the US-India relationship and committed to continue working together and in groups like the Quad to advance economic growth for our two countries and expand cooperation on our shared priorities.

    This announcement follows the inaugural launch of the US-India initiative on Critical and Emerging Technology (iCET) last month.

    iCET is being launched at the direction of US President Joe Biden and Prime Minister Narendra Modi who after their Tokyo meeting in May 2022 had announced to elevate and expand the strategic technology partnership and defence industrial cooperation between the governments, businesses, and academic institutions of the two countries.

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    #Air #IndiaBoeing #deal #create #jobs #Prez #Biden #Modi

    ( With inputs from www.siasat.com )

  • UK enters international race to create public digital money

    UK enters international race to create public digital money

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    The U.K. has entered the international race to create a central bank-backed digital currency, with work to start on a “Britcoin.”

    The Treasury and Bank of England said last week it is “likely” a digital pound will be needed in future for everyday payments.

    “As the world around us and the way we pay for things becomes more digitalized, the case for a digital pound in the future continues to grow,” said Bank of England Governor Andrew Bailey in a statement.

    The BoE’s decision to enter the race comes as other central banks, like the ECB and the People’s Bank of China, plow ahead with their own plans for public digital currencies.

    A joint consultation, which runs until June 7, paves the way for more detailed work on the exact design and puts the BoE on a similar trajectory to the ECB — which is considering bringing forward a digital euro.

    But there are big questions over the use case for these digital banknotes, and how they would work in practice.

    The House of Lords described the project last year as a “solution looking for a problem” and some BoE officials, like Andrew Hauser, have previously voiced concerns about the implications for monetary policy.

    “A narrow digital currency that largely cannibalized banknote demand, for example, might have little or no impact. By contrast, a broad digital currency with many attractive payments features could materially increase the demand for central bank liabilities,” Hauser said in June last year.

    Huw Van Steenis, who advised former BoE governor Mark Carney on his Future of Finance review in 2018, told POLITICO there were still more questions than answers related to the viability of a digital pound.

    “Money is too important to be left [just] to central bankers as the big decisions are political and economic, not just technical,” he said, adding that most early pilots, such as those undertaken by the Nigerian and Bahamian central banks, and even that of China itself, were struggling to gain adoption.

    Central bankers have been motivated to act on fears that Big Tech challengers could constrain universal public access to digital cash and with it the sovereignty and dominance of public money.

    While ordinary people can already make online payments, those are done privately through banks or payments companies. The idea of a central bank digital currency is to create a digital version of cash that would operate as a public good that comes directly from the central bank.

    GettyImages 1237113759
    U.K. citizens would be able to stash Britcoins in online wallets, but there would be initial limits to avoid pulling money out of banks | Chris J Ratcliffe/Getty Images

    U.K. citizens would be able to stash Britcoins in online wallets, but there would be initial limits to avoid pulling money out of banks — amid fears that could threaten the stability of the financial system.

    A digital pound would also not be totally anonymous to avoid fueling money laundering but users would be able to choose their private settings like for online ad-tracking on social media — and the government would not have access to private payment data. The data would, however, be available to police authorities.

    Still, a decision on whether to go-ahead with a digital pound won’t take place until the middle of the decade.

    Izabella Kaminska contributed reporting.



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    #enters #international #race #create #public #digital #money
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