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Very long answer, please bear with me. There are times I would need to build background so you can follow my points. My brother is in the government sector and this is an account of what I have understood from his experiences.AdministrationRaghuraj Hedge has given a good overview ,let me build on that. The Doctor in a Primary Health Center(PHC) is not just the physician there, he is also the administrator and treasurer. With complete responsibility (as in if anything is missing , it comes out of his paycheck responsibility) of every rupee that comes to the PHC. But here is the catch, he does not have authority to spend it at his own discretion. It is held in a joint account with the Panchayat President (the elected head of the local self governing body ). As most communist fairy tales goes, this would ensure that the "felt needs of the community" are recognized and dealt with.Felt needs community development theory"In "felt needs" theory, analysis in community development work is replaced by intuition and normative ideas of what is right and appropriate. When the community expresses its ideas, hopes, and dreams, these are taken as givens.Opinion and perception are everything when following the felt needs community development model. This applies not only to problem diagnosis, but also to community problem solutions."Hard data analysis is replaced by intuition aka whatever the Panchayat leader sees fit. Now the Panchayat leader is elected only for a term of 5 years and he can't stand for reelection. So he does what any "decent , hard working politician " in his shoes will do. He tries to steal as much money as possible. Objectively, I don't blame him . He is making the best of a "until stocks last " garage sale. But here is the problem as far as the Doctor is concerned - HE is responsible for the money. The Panchayat person is just some guy off the streets who happened to get elected. How is the government going to get the money from him ? Everything would be benami ( Benami - made, held, done, or transacted in the name of (another person) —used in Hindu law to designate a transaction, contract, or property that is made or held under a name that is fictitious or is that of a third party who holds as ostensible owner for the principal or beneficial owner - from Merriam Dictionary and Thesaurus | Merriam-Webster) , trust me they know what they are doing. All this talk of simple, innocent villagers is just poppycock , they are very smart, very good at what they do. (Please don't mistake my tone for condoning what they do, I just appreciate work well done even if it is stealing).This was a big problem when the NRHM was in full swing. Large amounts of money (running into Lakhs) was coming in each month. Each time it would result in a fight between the Doctor who wants to spend it well and the Panchayat President who wants it to be structured where he can skim the money. Many have alluded to the lack of infrastructure. This is a favorite factoid among Politicians because it is easy to make money off construction.ProcedureThe tender process - Any expenditure above Rs 20,,000 needs a tender. Theoretically it would mean competition and lower prices. In practice the tender is called for only at the start of a long stretch of holidays, published in an obscure paper (this is something they try to avoid because it cannot be controlled) and the last date would be such that others are not able to apply. Meanwhile three buddies of the President would submit their "bid" which are adjusted in such a way that they are the lowest bidder come what may. Success - tender secured. Level up.Engineer - The engineer has to make a plan for the construction. Pressure point number 1 - if the Doctor does not go along with the "tender process" as stipulated by the Panchayat President, the executive engineer would be "very busy" and unavailable. This makes sense because the engineer would get paid by the Panchayat President only if there is corruption.Construction - Ideally (from the Panchayat President's point of view), the building is constructed in such a way that it survives just until he remits office. My brother got transferred because he made sure the construction was well done. This significantly reduced the profit margins earning the wrath of everyone around ( all the office staff are on the dole - this ensures that everyone works so that things go smoothly because it is the only way they would get paid).Certificate of worthiness - The executive engineer has to certify that the building is well constructed . They try to wiggle out of this by allocating funds only towards the end of the allocation period (the government allocates funds to the PHC and gives a due date by which the money has to be spend, otherwise it would be send back to the government). Since the government is hand in glove with the Panchayat folks, it is given in such a manner that the Doctor has very little time to complete all the procedures. Failure to spend money can invite censure and even mention in the newspapers ("Incompetent Doctor fails to spend allocated money, People suffers"). The executive engineer would disappear close to when the project finishes and there would be incredible pressure on the Doctor to give the money without the Completion certificate. Also, this is not nearly a big deal. Because the folks who are supposed to audit this are also corrupt. But by putting the engineer on the hook, one can make sure that it doesn't collapse soon after and some work is done. It is the only leverage the Doctor has.Jackpot - money gets shared, drinks all round, a job well done.I didn't join the service because I didn't become a doctor to supervise building construction. I don't want to spend my time figuring out ways to anticipate how the opposition would steal money from a scheme. This is how you fight this but there is no one to help you. This is because everyone out there except the doctor profits from this. So one learns by trial and error. So what if your first "error" where you didn't follow procedures (because you just didn't know what they were in the first place and nobody told you anything) was a big project ,say 20 lakhs for constructing a building. That comes out of your pension . And that is just one allotment. By the time you are done, you could end up with nothing and all your pension would be forfeit. I am not exaggerating - I personally know someone who was in the Muncipal medical service who was working in his old age because he has no pension, no savings. Or you can adopt the "if you can't beat them, join them " policy. Again, not something I am interested in.Is there a solution ?Better economic growth.The answer does not lie in the realm of medicine and healthcare. It would get better if India truly reforms its economic policies, becomes more market oriented and achieves higher growth rates.The impact of economic growth on health care utilization: a longitudinal study in rural VietnamFrom the study"Households with economic growth spent less percentage of their expenditure for health care, but used more provincial/central hospitals (higher quality health care services) than households without economic growth. The differences were statistically significant.The results suggest that households with economic growth are better off also in terms of health services utilization. Efforts for reducing inequalities in health should therefore consider the inequality in income growth over time".Thanks for reading.

Friends primary is a market wherein you are trying to raise a lot of money from your business.So friends are going to give you aStock Exchange Introductiontoday so that you will get a lot of benefits from which you can earn a lot of money.Introduction to Primary MarketThe primary market is a market where corporates issue new securities to raise funds.The company which issues its shares is called the issuer and the process of issuing shares to the public is known as a public issue or initial public offering (IPO).The entire process includes various intermediaries such as Merchant Banker, Banker to the Issue, Underwriters and Registrar to the Issue.All these intermediaries are registered with SEBI.Steps were taken by companies going for IPOThe company employs a merchant banker for the IPO process. Merchant Banker helps the company in the process of IPO.The company has to apply to the SEBI with registration details.This statement contains details about the company's business, the reason for coming with the IPO and the financial details of the company.Once SEBI has received the registration details, it is decided whether the company should be allowed to go for the IPO.Once the company gets initial approval from SEBI, it needs to prepare the draft red herring prospectus (DRHP).DRHP is a document that contains information about the company and the business of the industry that operates it.This document is broadcast to the public. In this, the estimated size of the IPO, the estimated number of publicly traded shares, plans to use money by the company, financial details of the company, promoter details, etc. are included.The company will now have to advertise about the IPO through TV and print advertisements to create awareness about the company and its IPO offer. This process is called IPO Roadshow.The issuer of the company or the IPO has to fix the price band, among which the company would like to go publicly.For example, the company has fixed a price band of Rs 200-205. Therefore, if an investor wants to invest in the IPO, then he can choose to buy shares at anywhere between 200 and 205 at a price.After the price band is fixed, the company will have to open the window officially so that the public can subscribe to shares.Customers can bid for the IPO within the price band fixed by the company. It is also called a book building.After the subscription window is closed (which is usually open for 2-3 days), the price at which the problem is listed is decided. Shares are then listed in the respective stock exchanges.The process to apply for IPOTo apply for an IPO, the customer essentially requires a DEMAT account.It is required to apply for the ASBA (application supported by Blocked Amount) through the bank, in which it has linked its trading and DEMAT account.An IPO can apply offline and also online.In offline mode, the subscriber must collect the IPO form from the stockbroker and submit the duly filled form.The broker will then submit the form to your bank, which you have linked to the trading account.In online mode, anyone can directly access the bank's net banking services in which they have linked their trading account and apply for an IPO.Secondary marketThe secondary market is where securities issued in the primary market are bought and sold on the Stock Exchanges - Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and others.BSE and NSE are the most traded exchanges in India with a market capitalization of Rs 1,25,18,954 crore and Rs 12,282,127 crore respectively.key takeawaysThe primary market is a market where corporates issue new securities to raise funds.The secondary market is where the securities/shares issued in the primary market are bought and sold on the stock exchanges.The company which issues its shares is called the issuer and the process of issuing shares to the public is known as a public issue or initial public offering (IPO).Anyone subscribing to the IPO must have a demat account. He has to apply for ASBA also.Types of stocksDevelopmentCompanies that manage to increase their profit faster than their industry partners, they are called development stocks.Their rapid growth is usually the result of some permanent competitive advantages. Since they need to increase their growth consistently, they usually do not give very little or no dividends.Investors are rewarded with an appreciation in the stock price. Since the competitors can emulate them and eliminate their competitive advantage, the increase in stock is riskier than the categories we discuss.valueStocks available on important discounts for their internal value fall under this category.These are sound businesses in areas that are not currently favorable to the market.Some of them give an important part of their profits in the form of dividends or resort to sharing buybacks when their shares get out of favor.Dividend YieldThese are companies that generate significant amounts of cash in the business and there are not enough profitable opportunities to deploy cash.Therefore, they return most of their shares to shareholders in the form of dividends.CyclicalThese are companies whose profits are linked to economic cycles.They report significant benefits when economic growth is strong and there is a struggle to report profits when economic growth is slow.Typical examples are commodity companies in metals, cement, oil, and gas, etc.Sources of information on sharesAn investor can collect information on the stock from various sources. Some of them are described below:Red Herring Prospectus (RHP)This is the most important information source for any company and the best place to start.This includes Industry Overview, Company Background, Risk Factors, Management Background, Management Discussion and Analysis (MD & A),which gives the business's perspective of further and detailed financial statements. RHPs are available on SEBI's website.Annual reportsPublishes the annual report of publicly listed companies, which include industry overview, company background, company strategy, business perspective.And detailed financial details of the current and past financial year. Annual reports are available on related company websites.Quarter resultsFriends publish quarterly reports of financial performance with stock exchanges of publicly listed companies.And they include trade volume-wise information, pledge of promoter shares and data on non-recurring items, which affect the financial performance of the quarter.Investor submissionsFriends provide the presentation of a broad investor of several publicly listed companies.which covers the company's background, corporate strategy, and business perspective and detailed financial statements of current and previous financial periods.Earnings Invite ConferenceMany companies call conference calls after quarterly results, in which the management provides guidance in the medium term and takes questions from investors and analysts.Management gives an interview in print / TVManagement interviews provide clues to focus on management, transparency and shareholder friendships.key takeawaysThe stock is owned by a business or a company.There are various types of stocks such as growth, dividend yield, value, and cyclical stock.Information on the stock can be collected from annual reports, income calls, management interviews, and investor presentations.Fundamental analysis This (FA) is a comprehensive study of business. When an investor wants to invest in a business for a long time (3-5 years), it is important to understand the business with different perspectives.Fundamental analysis examines the economic, financial, qualitative and quantitative factors associated with the stock.It also studies financial figures, the performance of their peers, company financial statements, etc.Explain financial statementsIt is important to explain financial statements to understand the financial health of a company.The three major financial statements are the Profit and Loss Account (P & L), Balance Sheet and Cash Flow Statement.P & L AccountThe P & L account shows the company's operational performance in a given year.The operating performance reflects the company's income, expenditure, and hence its profitability can be obtained from this statement.P & L accounts are mandatory for every company and are issued every quarter.Depreciation & AmortizationWhen a business buys a plant, equipment, machines, it intends to use it for a long time, it does not show expenditure in just one period.Rather, it spreads the cost on the life of such devices and shows annual cost per year in P & L. It is called depreciation.This is not cash expenditure in the period in which it is recognized in P & L. The refining concept is similar to depreciation but refers to intangible assets like advertising and brand acquisition costs.Balance sheetThe balance sheet is a summary of what a company has and what it is for external parties.In other words, it shows what are the sources of its funds or liabilities (stocks, debt, accumulated profits), and what is the use of these funds (property created).In essence, this is a statement of property and liabilities.Shareholder Fund / StocksIt represents the value of the stock/shareholding holdings in the company from the accounting point. It is also known as Net Worth or Net Book Value.This is the sum of the paid capital and income sustained. Paid-up capital is the value of shares purchased by shareholders in primary sales.Cumulative profits made by retired earning companies are that they pay dividends only since the establishment.Long term propertyThese include property, plants, and equipment, furniture and fixtures, software packages, vehicles, aircraft, etc.which the company holds for its business. These include the plant and equipment under construction (in the works of capital work) and intangible assets like brands.Non-current investmentThese are an investment in shares/shares of subsidiaries and affiliates. Subsidiaries are those companies wherein publicly listed companies> 50% is a financial stake whereas affiliates are where it has a 50% economic share.Cash from operating activitiesIt is a pure representation of all cash flow and outflow as a result of selling the company's products in the market.It is adjusted by adding non-cash expenses such as depreciation and amortization in the company's PAT and then for the change in current assets and current liabilities during the period of cash flow statement.If the current asset increases, the cash flows decrease and vice versa. If current liabilities increase, then cash flows to increase and vice versa.Operating Cash Flow = PAT + D & A - / + Change in Current Assets +/- Change in Current LiabilitiesCash from investment activitiesThese include the acquisition of cash or business spent on the acquisition of property, plant, and equipment. It also includes surplus cash, which the company invests and redembs from liquid funds.

Hi there! Many investors have suffered through an inordinate number of poorly constructed pitches. Most startup entrepreneurs tend to focus on their pet projects to the detriment of the critical business pitches required for funding. It's fair to say that hardened investors expect to be disappointed. Surprising a cynical audience with a thoughtful, effective presentation that answers the important questions bids fair to invite a warm response that translates into a real shot at successful funding. A great pitch deck is an indispensable tool for any startup.Paying attention to the following precepts will help with assembling an effective pitch deck.Brief, Clear WordsWords are tools for conveying ideas. The best words fly a speaker's intended meanings into the minds of listeners before disappearing into the silence of contemplation. Sometimes, more words are better. They push and prod the intended meaning this way and that for a receptive audience. Investors want to be persuaded, and they know business is complex. They expect many words for a non-trivial business idea with many significant aspects. Still, those same investors are busy. They want to hear the presentation and then move on to other demands on their limited time and energy. They want exactly as many words as are needed and not one word more.Furthermore, promoting a business idea calls for a businesslike approach. As any writer knows, it's all too easy to fall in love with poetic phrases or elaborate explanations. Focused passion is good, but rambling passion is a turnoff. Fluff belongs in a cow field and not in a presentation. Kill all words that puff and preen themselves without contributing to the presentation. For that matter, simpler words are better whenever possible. A dollar word like "utilized" compares badly to a two-bit word like "used." Dictionaries are full of short, powerful words. They should be used.Hone the PresentationPractice makes perfect. There's nothing like testing a pitch before exposing it to investors. Smart entrepreneurs run prospective pitches past friends, colleagues, and co-workers willing to offer useful feedback on defects and omissions. A recorded test run can also reach distant or busy reviewers. In a pinch, a mirror will work.Twenty minutes should be enough for even the most sophisticated business idea. Investors understand that the presentation will leave out a lot of details that are not relevant to the core concept. They expect a pitch to cover only the major ideas. If necessary, a professional writer can be hired to slice away fluff and to clarify the remaining text in a marketing deck. Given the stakes of what might be a single shot at persuading potential business partners to fund a cash-short startup, the extra money is little enough to pay.Open With an Executive SummaryThe old rule about public speaking is to first briefly describe what will be said before delivering the main body of the speech, after which the speaker closes with a brief summary of what has just been said. This sort of one-two-three delivery prepares an audience for the upcoming message and helps with long-term memory. A funding pitch is a little different, but any business idea will benefit from a one-minute opening that clarifies the context before a subsequent barrage of details.Entrepreneurs can reuse this ultra-efficient executive summary as an: http://kwhs.wharton.upenn.edu/2014/11/60-second-elevator-pitch/START YOUR CREATING YOUR PITCH DECKProve the ConceptAs the old saying has it, ideas are a dime a dozen. Any random schlub can pop out at least four half-baked ideas without breaking a sweat. Making an idea work is much harder. Making that idea an attractive business proposition is a different world. Investors see their mailboxes flooded daily with interesting proposals that fall apart under scrutiny. Investors want to see hard proof of the concept, and illuminating metrics on potential sales don't hurt at all.Taking the time to hammer out a working prototype of a product or a functional alpha release of a business service will go far in persuading prospective investors that a startup's founders aren't steeped in unrealistic dreams. Also, very few ideas are new under the sun. How have other businesses succeeded with a similar concept? Who were their intended customers, and why did those customers accept the new product or service? How long did it take to increase sales to the point of profitability? What are the likely prospects for the success of the startup that is now seeking funding? Completing basic research into such questions before the presentation will reassure cautious investors that the startup's principals are hard-headed businesspeople who know the score.Promote the TeamThe success of any business that anticipates significant growth depends on the quality of its team. Smart, experienced personnel are much more likely to push a startup to profitability than inexperienced newcomers. Investors want to know who will be helping the founders turn their business plan into reality. A good pitch deck will include a brief profile of the qualifications of the company's core employees.If available, an advisory board populated with well-known names will add considerable cachet to the founding company and strengthen the chances of funding.Don't Babble About HowAs any experienced engineer or manager knows, manufacturing and service processes tend in practice to be amazingly complicated. In truth, unexpected complexity is in fact expected, and few investors will be surprised at difficulties with innovative processes. Rarely is there a need to spend precious pitch time on anticipating the unanticipated.For that matter, most investors expect even basic manufacturing and service processes to pose daily challenges. Explaining in advance exactly how employees and founders will implement a new product or service is an exercise in futility. Furthermore, it's not relevant to the pitch. A broad overview of the basic ideas behind the business proposition will do. Technically knowledgeable investors will ask more in-depth questions later if needed. The briefest possible mention of process details will serve well for the great majority of opening pitches.Result Over ProcessSmart entrepreneurs will focus on the outcome for customers and clients. Marketing begins with investors, who might themselves be prospective users of a new product or service. How will the new offering meet the needs and desires of potential purchasers? How will the startup achieve this more efficiently than competitors? How will the startup's marketing experts persuade potential customers and clients to abandon old solutions for an unfamiliar alternative? Inertia is a powerful force, and entrepreneurs often must pair an innovative solution with innovative marketing to succeed. Virtually all startups face the harsh reality of intense competition for attention and brand loyalty.Engage the AudienceInvestors are no different from other people. Behind stern faces, their deepest emotions await. They love hearing a good story that is told with strong words. Professionalism is not incompatible with storytelling, and a story that brims with energy and passion is far more effective than a dry explication of abstract benefits. Painting a mental picture of how a specific customer will benefit or has already benefited from the new product or service packs a wallop.Quite apart from the story itself, personal presence counts for a lot. Conservative clothing conveys an attitude of respect for investors. A lively voice that rises and falls along with the excitement of the business idea demands close attention. Furthermore, effective communication includes the art of appropriate body language. Wild gesticulation is annoying and distracting, but subdued motions that imply boredom or indifference are worse. Cultural norms do vary, but in general, friendly eye contact invites sympathy and personal connections. Practicing in front of sympathetic friends or colleagues helps improve the delivery of any message, let alone a critical presentation that might mean the difference between a successful funding round and running short of operational cash. Politicians and actors keenly understand the importance of the delivery, and the art of attracting business funding isn't much different. An inexperienced entrepreneur might consider hiring a voice coach.Paint Vivid ImagesOveruse of meaningless charts and graphs mars many presentations. All visual elements should serve a purpose that cannot be met with mere words. The best visual elements pound home their points with words that allow the presenter to show unmistakable belief in the intended meanings through a confident tone of voice and friendly body language. Pictures of manufacturing facilities or smiling service personnel also help as long as they mirror the reality of a successful startup. Vaguely related stock images should be avoided as insincere and manipulative.Related Read: Great PowerPoint slides to add punch to a presentation and are worth the extra effortBe Prepared for AnythingDespite the intense brevity of a typical presentation, investors expect enormous depth behind the curtain. They expect entrepreneurs to immediately answer critical questions about how their core business idea works. Ignorance about the exact details of complex manufacturing processes or sophisticated software algorithms can be forgiven because investors don't expect founders to know everything. Stumbling over the answers to basic questions, on the other hand, tends to ring alarm bells in the minds of wary investors. If the founders cannot summon up convincing answers, then what will happen in reality? Will the company drift rudderless while its founders struggle to find their way through the consequences of poor comprehension? Too many otherwise promising startups fail after burning up seed investments on fruitless plans.Investors prefer to deal with confident, savvy startup founders who show themselves to be ready for success. If necessary, entrepreneurs seeking seed money will prepare for a presentation by consulting with industry experts and spending long nights with authoritative materials that cover every major aspect of the startup. Where no legal problems threaten to arise over intellectual property issues, studying operational businesses that implement a similar idea is quite useful.Networking WorksWhatever the specific business idea, major aspects will cry out for intelligent feedback from outsiders. More than a few otherwise brilliant startup founders suffer from a narrow view of potential difficulties. Canny investors who have seen it all will be watching for these blind spots. A deep awareness of the many practical difficulties of running a business will result in a stronger pitch. Making a sustained effort over months or years to establish a network of sympathetic contacts in relevant fields such as business management, manufacturing, software design and others will boost the prospects of a successful funding round.Furthermore, there's such a thing as being too close to the problem, even for the most experienced businessperson. Depending on the business concept, it may pay to get the reaction of a total outsider to the core business idea. Company founders might learn a lot by asking for first impressions from friends and colleagues who work in unrelated fields. Alternatively, any parent can attest that young children are prone to uttering amazing insights. If the nature of the business idea permits, asking a young family member for feedback could yield startling thoughts about the potential reception by actual customers.Wrapping It UpThe closing statement of a presentation should include a direct request for a funding round that will benefit both the startup and the investors. It's remarkable how many speakers neglect this step. Also, most investors appreciate a brief thank you from the speaker for listening to the pitch.