Union Budget 2019 Expert Opinion: Look to creative economy, take a leaf from South Korea’s playbook

Union Budget 2019-20 Expectations

Budget 2019 Expert Opinion on Budget Expectations: There is now broad consensus that the upcoming interim Budget 2019 will be geared towards bolstering the current government’s polling prospects in the general election. Several reports indicate that the government will use the opportunity to appease impoverished sections of the Indian society and the mercantile community. The remainder of the budget, pundits deem, shall be rife with promises of what the government hopes to do, should it make its way back into power for another term.

Given the government’s emphasis on technology policy over the last few years, with the release of Draft Data Protection Bill in 2018 as well as several consultation papers ruminating the possible regulation of different aspects of the technological realm, it is not unreasonable to expect items addressing these issues in the interim budget 2019 as well. If these speculations are indeed accurate, one hopes that the government has factored one critical facet of the broader digital sphere into its vision for 2019 and beyond – the creative industry.

Read Also: Budget 2019 Expectations- This may be the most important task at hand for Modi government on February 1

The creative industry, a broad term for what is essentially the media and entertainment sector, presents an important economic opportunity for India. It is one of the fastest growing segments of the Indian economy – recording an annual growth rate of 11.2 percent in 2016. It is also a key source of employment generation for India – an important consideration as the country needs to generate 10 million jobs per year to prevent mass unemployment. A report by the Boston Consulting Group predicts that the creative industry has the potential to generate 7 – 800,000 jobs over the next few years. Notably, a majority of these jobs could be relatively immune to automation. A study by NESTA reveals that 87 percent of creative workers are at low to no risk of losing their jobs to a machine.

Despite all its trappings, however, India’s creative industry fails to extract substantial value from its products, when compared to other developing economies. Notably, it generated only USD 18 billion in revenue in 2016, accounting for about 1 percent of India’s GDP. Comparatively, South Korean creative industry revenues in 2016 totaled a whopping USD 89 billion, accounting for 6 percent of the country’s GDP.

Part of the reason why South Korea’s creative sector is so successful is because the country’s government is heavily invested in fomenting its commercial ambitions. For instance, the South Korean government makes a concerted effort to maintain a robust intellectual property rights (IPR) regime. IPRs are the life-blood of the creative industry, as they serve as the vehicle through which creators can monetise their work. One of the pillars of a robust IPR regime are measures to mitigate the piracy of creative goods. Towards this end, South Korea has enacted a stringent copyright law to safeguard the interests of its creative industry. Further, and more importantly, it recently launched a special anti-piracy unit known as the Copyright Infringement Response Team (CIRT) for the effective enforcement of the provisions listed in its copyright legislation.

India has taken some initial steps towards improving its IPR regime with the induction of national IPR policy that has better IPR enforcement as one of its purported goals. However, little has been done to convert this policy promise into effective practice. Illustratively, according to a study by Digital TV Research, India’s concerted failure to counter copyright piracy of film and television content alone will cost the Indian economy 3.1 billion dollars in 2022.

Though laws are being enacted in India to counter piracy, such as the recent amendment to Cinematograph Act which threatens to severely penalise anyone who attempts to make unauthorised copies of cinematographic films, the efficacy of these provisions is questionable. A historical analysis of India’s copyright law reveals that an increase in the stringency of penalties does not generally translate into a reduction in copyright piracy. For instance, the 1984 amendment to the Indian Copyright Act made it easier for police to seize pirate works. But it was an ineffective deterrent to piracy as most piracy cases did not culminate in convictions, due to capacity issues within the police force. Thus, unless anti-piracy law is accompanied by efforts to mobilise and train the police to carry out its enforcement, it is effectively toothless no matter how severe its penalties are.

For Budget 2019, the government should, then, take a leaf from South Korea’s playbook and look to allocate resources towards the creation of India’s own anti-piracy enforcement unit. Such a measure would be a good starting point towards unlocking further value for one of the country’s most significant economic imperatives – the creative industry.

[“source=financialexpress”]

Drivers’ union plans to launch cab services next month

An Uber driver uses the app to navigate the often congested streets of Bangalore.

An Uber driver uses the app to navigate the often congested streets of Bangalore.(NYT)

Some members of cab aggregators  Ola and Uber, who have formed a drivers’ union, plan to launch its services next month with the help of Kolkata-based  technology startup which owns TYGR app.

“We plan to launch our cab services in the month of  August with the help of Savetur Digital Private Limited, which owns TYGR app,” former Uber, TaxiForSure and Ola Drivers And  Owners Association President Tanveer Pasha told PTI here.

“We want to give a local name to the app. Something  like “Namma TYGR” or “Namma Huli”, are some of the names we are planning on,” he added.

In the next three days, union members and Savetur officials are scheduled to meet at the residence of former Chief Minister H D Kumaraswamy to finalise the deal, including the launching date and signing of documents, Pasha said.

He said Savetur would run and manage the business  according to a model drafted by drivers’ union, which would satisfy both drivers and riders.

However, the union will control and supervise Savetur  through their company, which is in the process of registering  its name as Huli Technologies.

It plans to expand to Mysuru, Mangaluru and Belagavi after the Bengaluru launch, Pasha said.

The company will focus on driver benefits, including a 10% commission charged for drivers, besides insurance and family benefits, among other incentives, he said.

The company plans to raise Rs 12 crore to run and sustain business at the initial stages and many investors have shown keen interest to pick stake in the company, Pasha said.

He said the company aims to give Rs five lakh worth of life insurance, Rs five lakh accident insurance and Rs two lakh medical insurance to the drivers annually.

The company plans to have three to four car categories  that will show up on the “Namma TYGR” app, the name of which  could be changed,which includes a mini, hatchback option at Rs 12.50 per km, a Rs 14.5 per km, a sports sedan option at utility vehicle option at Rs 18.50 per km and an outstation  cab option, Pasha said.

The company also plans to set up five private patrol  security cars to attend to drivers’ problems of facing drunk  riders travelling late at night.

“The private patrol car will help drivers during medical and legal emergencies,” he added.

The idea originated when the drivers had gone on strike  in February against cab aggregators, demanding better  incentives and stopping attachment of new cabs which they said affects bookings.

[“Source-hindustantimes”]

7 ways to get more (and better) creative ideas from your credit union team

Credit unions are a unique business. However, there are certain things that all businesses share. One of these is the need for innovation. Because the credit union business is constantly changing (now there’s an understatement!), it’s vital that credit unions keep innovating to stay ahead of the curve. And all innovation begins with a single, creative idea. But how do you get those creative ideas? Here are 7 ways that you, as a credit union leader, can get more (and better) creative ideas from your credit union team.

  1. Get them out of the workplace.

A change of location helps shake the brain out of its routine. It also gets people away from the multiple distractions of the workplace, which are not conducive to creativity. So try having a lunch meeting at a local restaurant. Maybe a nearby hotel has a nice lobby area for a small, informal meeting. If it’s nice outside, go to a park! Anyplace other than your credit union’s version of “Meeting Room C.”

  1. Give them the “What”; let them give you the “How.”

Nothing kills the creative spirit more than being micromanaged. Creative people (and we are all creative people) love being challenged. As a leader, it’s your job to set the goal (the “What”). Now, ask your team to come up with the “How.” Tip: prepare to be surprised by some brilliant ideas that you would never have thought of!

  1. Ask crazy questions.

When looking for creative solutions to your next credit union challenge, ask your team “crazy” questions. Questions like: “How would we solve this problem if we had $20 million to throw at it?” “How would a professional dancer solve this problem?” “How would three cats, working together, solve this problem?” Not only will this force your team members’ brains into their naturally creative space, you may just find the germ of an actual solution in some of the answers they come up with!

  1. Make a “play space.”

Creativity needs stimulation to thrive. People are more creative when they play. If possible, furnish one of your meeting rooms with a few toys (Nerf® balls, Legos®, etc.) and interesting, colorful magazines (not credit union—or any industry-related—magazines!). And, if you’re really serious about this, paint this room a shade of green. Studies show that the color green boosts creativity!

  1. Invite an outsider.

Every now and then, invite someone from outside the credit union (and, preferably, from outside the financial services industry) to sit in on a meeting. An artist, a comedian, an art historian. Someone who sees the world through a completely different lens than you or your team. This person might see solutions, or come up with ideas, that would never occur to someone from the credit union industry.

  1. Send your team out for a walk.

According to recent research done at Stanford, people do their best creative thinking while in motion—outdoors, down a corridor, or even just a treadmill. Many leaders have discovered the multiple benefits (including, of course, health) of holding “walking” meetings.

  1. Initiate “Plagiarism Friday.”

(Full disclosure: I plagiarized this idea from someone else, but I can’t remember whom.) Every Friday, have each member of your team bring in one great idea from outside the credit union industry and share what makes the idea creative and innovative. Then ask your team how that idea could be incorporated into the credit union.

  1. (a bonus tip!) Let your team know that ideas are welcome, encouraged, even required, from everyone.

No one has a monopoly on great ideas! That next breakthrough idea—the one that takes your credit union to the next level—can come from anyone on the team.

Creativity and innovation are the keys to your credit union’s success. Every new challenge (and it seems like there’s a new one every day) requires a creative solution. It’s up to you, as a credit union leader, to encourage, support, and value creativity from everyone on your team!
[“Source-ndtv”]

Union cupboard Reshuffle might also Take location After June 21

Union Cabinet Reshuffle May Take Place After June 21

The reshuffle of the Narendra Modi-led cabinet may want to take place after the global Yoga Day on June 21. (record photo)NEW DELHI: A reshuffle of the Union cupboard may take vicinity this month withgreater representation in all likelihood to be given to pollsure Uttar Pradesh, Uttarakhand and Punjab,informed assets stated nowadays.

The reshuffle ought to take place after the global Yoga Day on June 21, they said.

a few of the possibly names doing the rounds from politically big Uttar Pradesh are celebration lawmakers Yogi Adityanath, Satyapal Singh and Sadhvi Savitri Bai Phoole.

The names of Navjot Singh Sidhu, Rameshwar Teli from Assam and Bhagat Singh Koshyari and Ajay Tamta from Uttarakhand are also doing the rounds. there’s no illustration from Uttarakhand inside the cupboardat gift.

birthday celebration assets stated greater representation can also be given to Chhattisgarh and Rajasthan.

currently, Union Minister of state for sports activities Sarbananda Sonowal took over as the Assam leaderMinister. Minister of country for Social Justice and Empowerment Vijay Sampla has been made BJP Punjab unit president.