cmpo-hvkm n CIzn n kvioan\v _P- n Nc-a-Ip-dn v Db s{iun v td p- -h v Xmgv td n hmbv] {]oanbw UnPn- -embn AS- m Ingnhv: Hm^ BI j-itam?

Transcription

1 s^{_p-hcn 2017 hne : 30 cmpo-hvkm n CIzn n kvioan\v _P- n Nc-a-Ip-dn v Db s{iun v td p- -h v Xmgv td n hmbv] {]oanbw UnPn- -embn AS- m Ingnhv: Hm^ BI j-itam? sluvpv Hmlcn s^{_p-hcn

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3 Editorial February 2017 Volume: 6 Issue: 11 Price: 30 Company Management Managing Director Alex K Babu Chief Executive Officer N. Bhuvanendran Chief Operating Officer Bobby Jose Editor K. Aravind Marketing Executive Krishnakumar M.K Research Team Head-Research & Strategies Group Krishnan Thampi K Senior Technical Analyst Anish C.V Senior Fundamental Analyst Shajan K.S Junior Currency Analyst Rajin Rajan P. Layout & Design M.T.Gopalakrishnan, DezignCentre, Kochi Head Office Hedge Equities, Hedge House, Mamangalam, Kochi, Pin Tel: ohari@hedgeequities.com Website: Disclaimer The information contained inour report does not constitute an offer to sell securities or the solicitation of an offer to buy, any security. The information in our report is not intended as financial advice. Hedge Equities Ltd do not undertake the responsibility for any investment decision taken by the readers based on this report. Moreover, none of the research report is intended as a prospectus within the meaning of the applicable laws of any jurisdiction. The information and opinions contained in research reports have been compiled or arrived at from sources believed to be reliable in good faith, but no representation or warranty, express or implied, is made by Hedge Equities Ltd to their accuracy. Moreover, you should be aware of the fact that investments in securities or other financial instruments involve risks. Past results do not guarantee future performance. em`- -a-x-bpss amdp \n h-n\w t^kv_p n\v cq]w \ Ip ImeØv AXns ÿm]- I am Iv kp _ Kn\v Xs kwcw-`sø em`-i-c-am- p -Xn\v t\csø \S- n-em n hnp-bn Hcp _nkn-\kv amxr-i-sbm pw ]n p-s-cm-\p- m-bn-cp- n. \qx-\hpw khnti-j-hpamb F n-s\bpw Bfp-Iƒ kzoicn p-sa pw B kzoim-cy-xsb _nkn-\-kns hnp-b-øn\v D]-tbm-Kn m- \m-ip-sa- -Xpam-bn-cp p Abm-fpsS Nn. B IW- q-iq- icn-bm-bn-cp- p-sh v Imew sxfn-bn- p. C v t^kv_p- ns hn]-wn-aqeyw IW- n-em- p- Xv Iº\n \S-Ønb aqe-[\ \nt -]-ßfpsSbpw Iº-\n-bpsS ssih-i-ap BkvXn-I-fpsSbpsam pw ASn-ÿm-\-Øn-e-, t^kv_p- n se A u v DS-a-I-fpsS AYhm Iº-\n-bpsS D]-t`m- m- -fpss FÆ-Øn-s bpw Ah \S-Øp kwth-z\-ß-fpss hym]vx-øn-s bpw ASn-ÿm-\-Øn-em-Wv. Npcp- n- -d- m D]-t`m- m- -fmwv t^kv_p- ns BkvXn. "IÃ-a Cukv InwKv' F B]vX-hm-Iy-Øn\v ]pxnb hi-t`zw Na-bv p-i-bmwv ]pxnb ImesØ Iº-\n-Iƒ. em`- -ax F hm ns A Xe-ßsf Ah ]p\ \n h-nn- p-ibpw snøp- p. temiøv G hpw IqSp-X hn]-wn-aq-ey-ap Iº-\n- Iƒ B nfpw KqKvfpw s^bvkv_p- p-sam-s -bm-wv. Cu Iº-\n-Isf XpS- -Ønte hniz-kn v \nt ]w \S-Øn-bh v ]e asßv kº-ømwv Ah \ In-b-Xv. XpS- -Øn Cu Iº-\n-I-fpsS ÿm]-isc t]mse Xs BZy-Ime \nt -]-I pw Ah-bpsS em`- -a-xsb Ipdn v hy - X-bn- m-bn-cp- p. F m ]pxnb ImesØ A\n-hm-cy-amb _nkn\kv taj-e-bpss hnp-b-km-[y-x-bn hniz-kn- -h v t\ -ap- m- m-\m-bn. C y-bnse sfsn Iº-\n-I-fpsS hnp-b-i-ybpw kam-\- am-wv. C t^m-knkv sf]nh \S-Øn-b-t mƒ Hml-cn-Iƒ hmßm th {X \nt -]-I-cn- m-bn-cp- p. F m \nt - ]n- -hcpss kºøv ]e asßv hf-cp-ibpw snbvxp. Zo L-Ime kao-]\amwv Hmlcn hn]-wn-bn hnp-bn- p- Xn\v Bh-iyw. H w Xm Is -Øp _nkn-\-kp- I-fn hniz-kn- m-\p B Phhp-ap- m-i-ww. ssivt\mfpn Iº-\n-I-fpsS \nt -]-I Cu hkvxp-x-bmwv \sω Hm an- n- p- -Xv. sluvpv Hmlcnsb Ipdn- p \nß-fpss hne-tb-dnb A`n-{]m-b-ßfpw \n tzi-ßfpw kzmkxw snøp -p. si.-a-c-hnµv FUn-, sluvpv Hmlcn editor@hedgeequities.com sluvpv Hmlcn s^{_p-hcn

4 Contents February 2017 BZmb \nipxn Cfhv ]cym-]vxtam? Xq -sam- n v sp ven-bpss _P v \ne-hn-ep kmº-øni kml-n-cytømsv bmym y-t_m-[-tøm-ss tn p- \n p-, kwxp-en-x-amb Hcp _P- mwv [\-Imcy a{ n Acp sp ven Ah-X-cn- n- -Xv. hy n-ifpss Imcy-Ønembmepw _nkn-\kpi-fpss Imcy-Øn-em-bmepw CS-Øcw hn`m-ksø A`n-kw-t_m-[\ snøm\mwv apjy-ambpw _P- n {ian- n- p Xv. hntz-in-iƒ hn p-tºmƒ kztz-in-iƒ hmßp p...20 Iº-\n-I-fpsS {]I-S-\-hp-ambn _ s X mø Imc-W-ß-fm hntzi \nt ] ÿm]-\-߃ hn p Hml-cn-Iƒ hmßp coxn-bmwv B`y- c \nt ] ÿm]-\-߃ ]n p-s-cp- -Xv. hkvxp-hn \ c v h jw Ign-s - n \nipxn Cfhv...11 ayqnz ^ p-i-fn tpmbn v A u- n-eqss \nt -]n- p-tºmƒ {i n-t Imcy-߃...26 Db s{iun v td p- -h v Xmgv td n hmbv] D]-t`m-K-Øns N{Iw C\n-sb-ßs\ Nen- n pw? cmpo-hvkm n CIzn n kvioan\v _P- n Nc-a-Ip-dn v...12 Npcp w t] am{xw {]tbm-p-\-s -Sp-Øp cmpo-hv Km n CIzn n tkhnmvkv kviow {]Im-c-ap \nipxn Cfhv 2018 G{]n H v apx- \n Ø-em- m\mwv _P v tcjbn \n tz-in- p- -Xv. 22 kwi-b-߃ v adp-]sn hmb-\- m-cpss kwi-b-߃ v adp-]sn \ Ip- Xv sluvpv CIzn- okv No^v FIvkn-Iyq- ohv Hm^o-k F.-`p-h-t\-{µ t\m v ac-hn- n- \S-]-Snsb XpS v D]-t`m-K-sØ apt m- p-sim- pt]m-bn-cp Hcp kmº-øni kml-n-cy-amwv ASn-apSn amdn-b-xv. AXp-sIm- p-xs D]-t`m-K- ta-j-e-ifnse _nkn-\kv hym]vxw ]gb \ne-bn-te v XncnsI-sb-Øn p- Xv H pw Ffp- -a-. 4 sluvpv Hmlcn s^{_p-hcn 2017

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6 Cover Story \ne-hn-ep kmº-øni kml-n-cytømsv bmym yt_m-[-tøm-ss tn p- \n p-, kwxp-en-x-amb Hcp _P- mwv [\-Imcy a{ n Acp sp ven Ah-X-cn- n- -Xv. hy n-ifpss ImcyØnembmepw _nkn-\kpi-fpss Imcy-Øn-embmepw CS-Øcw hn`m-ksø A`n-kw-t_m-[\ snøm\mwv apjy-ambpw _P- n {ian- n- p Xv. AeIvkv si. _m_p henb N m timem-l-e-߃ p tijamwv [\-Im-cy-a{ n Acp sp ven kmº-øni h jtø- p _P v ]m e-sa n Ah-X-cn- n- -Xv. \tc{µ tamzn k m A[n-Im-c-Øn-te-dn-b-Xn\p tijw G hpw IqSp-X {]Xo- -I-f n- -s _P v Bbn-cp p CXv. t\m v ac-hn- n- \S-]Sn Wn- p-h-cp-ønb hna i-\-ß-sf bpw AXns tzmj-^-e-ß-sfbpw H -S w ian- n- p ]pø ] -Xn-Ifpw AXyp- {K {]Jym-]-\-ßfpw _P- n-ep- m-ip-sa- m Wv ]e hnz-kv[cpw Kth-jW ÿm]-\-ßfp-sams {]h-nn- -Xv. A v kwÿm-\-ß- 6 sluvpv sluvpv Hmlcn Hmlcn s^{_p-hcn fn- \S- p Xnc-s -Sp- n\v apt m-snbmbn km[m-cw P\-ßsf ssibn-se-sp- m- \mbn HuZm-cy-߃ \ Im\pw [\-a{ n {]txyiw {i n- p-sa v Icp-X-s - n-cp- p. F m CØcw IW- p-iq- -ep-i-sf-sbm s Hcp ]cn[n hsc ac-hn- n v kwxp-en- X-amb Hcp _P- mwv Acp sp ven Ah- X-cn- n- -Xv. hm Ø-I-fn CSw ]nsn- m\mbn ]pø ] -Xn-Itfm P\-ßsf Xtem-Sp henb Cf-hp-Itfm \ ImsX \ne-hn-ep kmº-øni kml-n-cytømsv tn p-\n p-, bmym y-t_m-[-tøm-ss-bp _P- mwv CXv. hy n-ifpss Imcy-Ønembmepw _nkn- \kpi-fpss Imcy-Øn-em-bmepw CS-Øcw hn`m-ksø A`n-kw-t_m-[\ snøm\mwv apjy-ambpw _P- n {ian- n- p Xv. h In S tim -td- p-isf GsX- nepw Xc-Øn _P v kv] in- n- n-. ]mh-s - h v B\p- Iq-ey-߃ \ Ip ps - nepw AXv {Iao- Ir-X-ambpw Znim-t_m-[-tØmsS ] -Xn-Iƒ \S- n-em- p- -Xn-eq-sSbpw e`y-am- p Xc- Øn-emWv _P v hn`m-h\w snbvxn-cn- p- -Xv. c c e w cq] apx A v e w cq] hsc hcp-am-\-ap- -hcpss \nipxn _m

7 ap{z tbmp-\bv v 2.44 e w timsn cq] hi-bn-cp-ønbxv {]iw-k-\o-b-am-wv. \n amw taj-e-i-fnepw a pw sxmgn Ah-k-c-߃ krjvsn- m ]cn-an-xn-i-fp-s - n-cns sndp-ins kwcw-`-isc t{]m m-ln- n- p- -Xn-eqsS hcpam\ am K-߃ krjvsn- m-\m Wv k m e y-an-sp- -Xv. [yx ]Øv ix-am-\-øn \n pw A v i X-am-\-ambn Ipd XneqsS CS-Øcw hcp-am- \- m v ]cn-an-x-am-sb- nepw \nipxn Cfhv \ In. k Nm Pv Dƒs ss 12,875 cq] hscbmwv CXp-hgn em`n- m-\m-ip-i. {]Jym-]n- -s - -Xn-t\- mƒ IqSpX BZm-b-\n-IpXn Cf-hv {]Xo- n- n-cp- p. F m a v {]Jym-]-\-ß-fn-eqsS CS-Ø-c- mcs Pohn-X-e- y-߃ ssih-cn- m k lm-b-i-amb am K-tc-J-bn-te v Xncn-bp-IbmWv [\-a{ n snbvx-xv. Xmßm-hp hne-bv p `h-\-߃ v ASn-ÿm\ kuicy ]Zhn \ In-b-tXmsS `h\ hne Ipd-bm km[y-x-bp- v. CXv CS-Ø-c- m-cpss hosv F kz]v\w km m -cn- -cn- p- -Xn-\v klm-b-i-am-ipw. Xmßm-hp hne-bv p `h-\-߃ \n an- p _n U am v [\ ÿm]-\-ß-fn \n v Ipd ]eni \nc- n hmbv] e`yam-ip- -Xn\v ASn-ÿm\ kuicy ]Zhn hgnsbm-cp- pw. kzm`m-hn-i-ambpw Cu taj-ebn IqSp-X \n am-w-߃ \S- p- -Xn\pw `h-\-ßfpss hne Ipdbp- -Xn\pw CXv hgnsbm-cp- pw. Xmßm-hp hne-bv p `h-\-ßfpss \n h-n-\-ønepw am w hcp-øn-bn- p- v. U ln, apwss_, sim -Ø, snss F o \mev \K-c-ß-fnse ap\n-kn- Gcn-b-bn 30 NXp-c{i ao dpw a v ÿe-ß-fn 60 Ncpc{i ao dpw hen w hcp `h-\-ß-sf-bmwv Xmßm-hp hne-bv p `h-\-ßfmbn \n h-nn- n-cn- p- -Xv. 30 NXp-c{i ao dpw 60 Ncpc{i ao dpw IW- m- p- Xv Im v Gcnb-bpsS ASn-ÿm-\-Øn-em-Wv, _n v Gcnb-bpsS ASn-ÿm-\-Øn A. CtXmsS tic-f-ønse \K-c-ß-fn GI-tZiw 900 NXp-c{iASn hen- -ap `h-\-߃ Xmßmhp hne-bv p `h-\-ßfmbn ]cn-k-wn- -s -Spw. Id kn-i-fpss CS-]mSv ]c-am-h[n Ipdbv pi F e y-tømss aq v e -Øntesd cq]-bv p ]W-an-S-]m-Sp-Iƒ Imjv sekv Bbn \S-Ø-W-sa _P v \n tziw `qan CS-]m-Sp-Isf _m[n- m-\p km[yx bp -t m-gmwv adp-h-iøv `h\ \n amw taj-ebv v DtØ-P\w ]I-cp \n tz-i߃ [\-a{ n apt m- p-sh- -Xv. hkvxphn \ \S-Øp-tºm-gp \nipxn _m[yx Ipd-bv p coxn-bn `qantbm si n-stam hmßn-b-xn\p tijw c v h j-øn\p tijw hn m Zo L-Ime aqe-[\ t\ ambn IW- m- p ]pxnb \n tz-ihpw dnb Ftà v taj-ebv v KpW-I-c-am-Ipw. dnb Ftà v taj-e-bn IqSp-X CS- ]m-sp-iƒ \S- p- -Xn\pw H w AXns kpxm-cyx Dd- p-h-cp-øp- -Xn-\p-ap \n tzi-ß-fmwv _P- n-ep- -Xv. CXv `h-\-hmbv]sb B{i-bn v CS-Øcw `h-\-߃ hmßp \K-c-ß-fnse CS-Øcw hcp-am \ m mwv IqSp-X KpW-I-c-am-Ip-I. {][m-\-a-{ n-bpss ap{z tbmp-\bv v hibn-cp-ønb XpI Cc- n-bm- nb \S-]Sn IqSp- X kwcw-`-isc krjvsn- pi F e ytøm-ss-bm-wv e w timsn cq]-bmwv kmº-øni h j-øn Cu kvioan- \mbn hi-bn-cp-øn-bn- p- -Xv. tim -td v CX-c, Im jn-i C-Xc taj-e-i-fnse hcpam\ cq]o-i-cw {]h Ø-\-߃ t{]m mln- n- pi F e y-tømss ]Øv e w cq]-bn Xmsg hmbv]m Bh-iy-ap sndp-ins hyh-km-b-߃ v _m v hmbv] \ Ip Cu ] -Xn-bv mbn IqSp-X XpI hi-bn-cp-øn-b-xn-eqss IqSp-X sxmgn Ah-k-c-߃ krjvsn- m Ign-bpw. sxmgn Ah-k-c-߃ krjvsn- m k m F v snøp p F tnmzyw i - am-bn-cns AXn-\p Hcp DØ-c-amWv Cu \n tz-iw. \n amw taj-e-i-fnepw a pw sxmgn Ah-k-c-߃ krjvsn- m Ht sd ]cn-an-xn-i-fp-s - n-cns sndp-ins kwcw- `-Isc t{]m m-ln- n- p- -Xn-eqsS hcp-am\ am K-߃ krjvsn- m-\mwv k m e yan-sp- -Xv. 50 timsn cq]-bn Xmsg hn p-h-c-hp sndp-ins hyh-km-b-߃ p BZm-b-\n- IpXn 30 ix-am-\-øn \n v 25 ix-am-\- ambn Ipd \S-]Sn Cu taj-ebv v henb Bizm-k-amWv ]I-cp- -Xv. ticfw t]mep kwÿm-\-ß-fnse 95 ix-am\w sndp-ins Iº-\n-Ifpw 50 timsn cq]-bn Xmsg hn ph-c-hp- -h-bm-wv. Ch-bpsS em`-am-is GItZiw Hcp timsn apx A v timsn hscbpw. Cu em`-øn-t -ep \nip-xn-bn A v ix-am\w Ipdhv hcp- Xv Cu taje-bnse kwcw-`-i pw Poh-\- m pw KpW-I-c-am-Ipw. Gsd hna i\w Wn- p-h-cp-ønb alm-fl-mkm n tziob {KmaoW sxmgn-epd p ] Xn v IqSp-X XpI hi-bn-cp-ønb-xn-s\m w AXv sne-h-gn- p- -Xn-\p am K-߃ IqSn _P- n \n tz-in- p-sh- Xv {]iw-k-\o-b-am-wv. 48,000 timsn cq]bmwv Cu ] -Xn-bv mbn \o n-sh- n-cn- p- -Xv. CXv Cu ] Xn XpS-ßn-b-Xn\p tij-ap G hpw Db hi-bn-cp-ø-em-wv. CXn-t\msSm w {Kma-ß-fn A v e w Im jni Bh-iy-Øn-\p Pe-kw-`-c-Wn-Iƒ \n an- p-sa pw [\-a{ n {]Jym-]n- n- p- v. {KmaoW sxmgn-ep-d p ] Xnsb CØcw \n am-wm-fl-i-amb {]h Ø-\-߃ pw Im jni D m-z-\- -ax Iq p- -Xn-\p-ambn D]-tbmKn- pi F e y-amwv CXn\p sp venbpw tamzn-bpw ]n n-ep- -Xv. C mcyw [\-a{ n _P v {]kw-k-øn FSpØp ]d-bp-ibpw sn bvxp. GI-tZiw \mev e w timsn cq]-bmwv ASn-ÿm\ kuicy hni-k-\-øn-\mbn hi-bn-cp-øn-b-xv. ASn-ÿm\ kuicy hnik-\-øn\v thkw Iq p- Xv ]nt m- pt]mb D]-t`m-KsØ i n-s -Sp-Øp- -Xn\pw hgnsh- pw. cmjv{sob e y-߃ p]cn, kmº-øn I `{Z-X-bv v {]m[m\yw \ Ip- -Xn-\v [\- Im-cy-a{ n {i Im n-b- _P v Hcp _P v Fß-s\-bm-bn-cn- -W-sa- -Xn\v amxr-ibm sw v ]d-bmw. sluvpv Hmlcn s^{_p-hcn

8 Cover Story Hmlcn \nt -]-I v Bizmkw Hmlcn \nt -]-Øn- \n p Zo L-Ime aqe-[\ t\ Øn-\p \nipxn Hgnhv kw_- n \ne-hn-ep hyh-ÿ-i-fn bmsxmcp am hpw hcp-øn-bn-. _P n X߃ v {]Xn-Iq-e-amb \n tzi-ß-ƒ D m-ip-tam-sb Bi Hmlcn \nt -]-I p m-bn-cp- p. {][m-\-a{ n \tc{µ tamzn \S-Ønb Hcp {]kvxm-h-\- bmwv AXn\v Imc-Ww. Hmlcn hn-]wn-bn \n pw kºøv D -m p- -h cmpy- Øns hni-k-\-øn\pw kw`m-h\ snø- W-sa At±-l-Øns hm piƒ Hmlcn \nt -]-Øn\v Zo L-Ime aqe-[\ t\ \nipxn G s -Sp-Øp- -Xn-\p \o -ambn hymjym\n s - n-cp- p. F m _P- n Zo L-Ime aqe-[\ t\ \nipxn kw_- n \ne-hn-ep hyh-ÿ-i-fn bmsxm cp am hpw hcp-øn-bn-. skiyq-cn- okv {Sm km- SmIvkv, a v \nip-xn-iƒ F nh-sbbpw kv] in- n-. Hml-cn-Iƒ hmßn-b-xn\p tijw Hcp h jw ssihiw sh -Xn\p tijw hn p-tºmƒ In p em`sø-bmwv Zo L Ime aqe[\ t\ -ambn IW- m- p- -Xv. Hcp h jøn\p apºv hn p-tºmƒ In p em`sø {lkz Ime aqe[\ t\ ambpw IW- m- p- p. \ne-hn Hmlcn \nt -]-Øn\v Zo L Ime aqe[\ t\ \nipxn _m[-i-a-. AXm-bXv Hml-cn-Iƒ hmßn-b-xn\p tijw Hcp h jw ssihiw sh -Xn\p tij-amwv hn p- -sx- n \nt -]-Øn \n v e`n- p t\ -Øn\v \nipxn \ ti- -Xn-. Hcp h jøn\p apºmwv hn p- sx- n t\ -Øns 15 ix-am\w \nipxn _m[-iw. Hml-cn -D-S-a-Iƒ v Iº\nIƒ 8 sluvpv sluvpv Hmlcn Hmlcn s^{_p-hcn \ Ip em`-hn-ln-x-øn\pw \nipxn \ ti- Xn-. Hml-cn-I-fn \nt -]n- p ayqnz ^ p-iƒ pw kam-\-amb \nipxn hyh-ÿ-bmwv _m[-i-am-bn-cn- p- -Xv. [mcmfw sndp-ins \nt -]-I Hml-cn, Hmlcn _ nx \nt ] am K-ß-fn-te v Xncn-bp kml-n-cy-ønemwv Zo L-Ime aqe-[\ t\ \nipxn G s -Sp-Øm [\- a{ n apxn-cm-xn-cp- -Xv. adn- m-bn-cp p Xocpam-\-sa- n AXv Hmlcn \nt -]sø {]Xn-Iq-e-ambn _m[n- p ÿnxn D m- Ip-am-bn-cp- p. \ne-hn \nt ]w \S-Øn Hcp h j-øn\p tijsasp- p em`- Øn\v bmsxmcp \nip-xnbpw \ ti -Xn- mø GI \nt ] am K-amWv HmlcnI s]mxp-ta-jem kwcw-`-ß-fp ss Hmlcn hn -\bv v FIvkvtN v t{suuv ^ p-i-fpss am Kw XpScpsa {]Jym-]\w kn]n-fkvc CSn-F^v t]mep ^ p-iƒ ASpØ kmº- ØnI h jhpw hn]-wn-sb kpo-h-am- p-sa kqn-\-bm Wv \ Ip- -Xv. fpw Hmlcn _- nx \nt ] am K-amb CIzn n ayqnz ^ p-i-fpw. as mcp \nt ] am K-Øn\pw Cubn-fhv e`n- p- n-. ]en-i-\n-c v Ipd-bp-Ibpw kpxm-cy-a- mø \nt ] coxn-iƒ XSb-s -Sp-Ibpw snøp kml-n-cy-øn Hml-cn, Hmlcn _ nx \nt ]w IqSp-X BI j-i-ambn-cn- p-i-bm-wv. t\m v ac-hn- n- -ens\ XpS v _m p-i-fn-te v {]h-ln ]Ww AwKo-Ir-X am K-ßfnepw {Iao-Ir-X coxnbnepw am{xta \nt -]n- m-\m-iq. aqe-[\ t\ \nipxn aqew t\ w Ipd-bp-sa v Icp- Xp- -h v G hpw A\p-tbmPyw Hml-cn, Hmlcn _ nx \nt ]amwv. Hmlcn hn]-wnsb kpo-h-am- p \n tzißfpw _P- n-ep- v. sdbn th kwcw- `-ß-fmb sfb kn-sn-kn, C tim, sfb -F^vkn F nh enãv snøp-sa {]Jym-]\w hn]-wn-bn-te v IqSp-X sf]n-h-iƒ FØp- -Xn\v hgn-sbm-cp- pw. s]mxp-ta-jem kwcw-`-ß-fpss Hmlcn hn -\bv v FIvkvtN v t{suuv ^ p- (CSn-F^v)I-fpsS am Kw XpScp-sa {]Jym- ]\w kn]n-f-kvc (sk {S ]ªnIv skivs F ss{]-kkv) CSn-F^v t]mep ^ p-iƒ ASpØ kmº-øni h j hpw hn]-wnsb kpo-h-am p-sa kqn\- bmwv \ Ip- -Xv. CXphsc ayqnz ^ pi-fpss F F^v-HIƒ v e`n Xn G hpw ani {]Xn-I-c-W-amWv P\p-h-cnbn hn]-wn-bn-se-ønb kn]n-fkvc CSn- F-^n\p m-b-xv.

9 sluvpv Hmlcn s^{_p-hcn

10 Cover Story BZm-b-\n-IpXn Cfhv ]cym-]vxtam? \nipxn Hgnhv ]cn[n Db Øp-sa {]Xo- -bp- m-bn-cp-s - nepw AXn\v [\-a{ n Xbm-dmbn-. 80 (kn) {]Imcap \nipxn Hgnhv ]cn[n H c e w cq]-bmbn \ne-\n ØpIbpw snbvxp. t\m v ac-hn- n- -ens\ XpS v D]-t`mKw KWy-ambn Ipd-bp-Ibpw kº-zvhy-hÿ sa s -t]mip-ibpw snøp kml-n-cy-øn hy n-kx BZm-b-\n-IpXnIfn Imcy-amb Cf-hp-Iƒ \ In sne-hn-s-ens\ t{]m mln- n- p-sa- mwv {]Xo- n- -s - n-cp- -Xv. F m BZm-b-\n-IpXnbpsS Imcy-Øn {]Xo- n- -s - Xp t]mep henb Cfhp-Iƒ v [\-Imcy a{ n Acp sp ven Xbm-dm-bn se _P- n \nipxn Hgnhv ]cn[n c c e w cq]-bmbn Db Ønb sp ven IqSp-X Cf-hp-Iƒ \ Ip-sa {]Xo bmwv shdp-sxbmbxv. Xs \mem-asø _P- n \nipxn Hgnhv ]cn[n c c e w cq]-bmbn Xs \ne-\n Øp-I-bmWv sp ven snbvx-xv. c c e w cq] apx A v e w cq] hsc hcp-am-\-ap- -hcpss \n IpXn _m[yx ]Øv ix-am-\-øn \n pw A v ix-am-\-ambn Ipd XmWv Bizm-kw. ]t AXn-s\m w A v e w cq] hsc hcp-am-\-ap- -hcpss {]txyi \nipxn Cfhv sh n- p-d-bv p-ibpw snbvxp. \ne-hn BZmb-\n-IpXn \nbaw sk 87 (F) {]Imcw A v e w cq] h sc hm jni hcp-am-\-ap- -h v 5000 cq]- bpss {]txyi IngnhmWv \nipxnbn e`n- p- -Xv. Ign h jsø _P- n-emwv 10 sluvpv Hmlcn s^{_p-hcn c c e w apx A v e w cq] hscbp hcpam-\øn\p \nipxn A v ix-am-\-ambn Ipd XneqsS ]Øv e w cq] hcpam-\-ap- -h v skkv Dƒ s ss ]c-am-h[n 12,875 cq] bmwv- em`n- mhp -Xv. A v e w cq] hcp-am-\-ap- h v 7725 cq]- em`n- mw. Cu {]txyi Ingnhv 3000 cq]-bn \n pw 5000 cq]-bmbn Db Øn-b-Xv. F m CØhW Cu Ingnhv 2500 cq]-bmbn XmgvØp-IbmWv snbvx-xv. aq c e w cq] hsc hcp-am-\-ap- -h v am{x-ambn Ingnhv ]cnan-x-s -Sp-Øp-Ibpw snbvxp. c c e w cq] apx A v e w cq] hsc hcp-am-\-ap- -hcpss \nipxn _m [yx ]Øv ix-am-\-øn \n pw A v ix-am-\-ambn Ipd Xns\m w {]txyi \nipxn Ingnhv 2500 cq]-bmbn Ip d- Xv aqew aq v e w cq] hsc hcp-am-\- ap- -h p \nipxn B\p-Iq-ey-Øn am -sam- p-an-. \S p kmº-øni h j hpw aq v e w cq] hsc hcp-am-\-ap- -h \nipxn \ ti- -Xn-. Cu Cfhv Xs bm-bn-cn pw ASpØ h jhpw e`n- p- - Xv. 4.5 e w cq] hcp-am-\-ap Hcmƒ sk 80 kn ]q W-ambn {]tbm-p-\-s - Sp-Øp-I-bm-sW- n \nipxnsbm pw \ ti- -Xn- F \ne-hn-ep ÿnxn- XpS-cpw. c c e w cq] apx A v e w cq] hscbp hcp-am-\øn\p \nipxn _m[yx A v ix-am-\-ambn Ipd Xn-eqsS Db \nipxn m_n s]sp- -h v \nipxn em`n- mw. CXp-hgn ]c-am-h[n 12,500 cq]-bpss A[nI \nipxn Cfhv e`n- pw. skkv IqSn IW- m- p-tºmƒ em`w 12,875 cq]. \nipxn Hgnhv ]cn[n _P- n Db Øpsa v {]Xo- -bp- m-bn-cp-s - nepw AXn\v [\-a{ n apxn n-. BZm-b-\n-IpXn Hgnhv ]cn[n Db Øn-bm \nipxn \ Ip- -hcpss FÆw Ipd-bp-sa Hgn-hp-I-gnhv D]- tbm-kn- mwv \nipxnzmb- I-cpsS {]Xo- -Iƒ v Acp sp ven aßte n- -Xv. BZmb-\n-IpXn \n baw sk 80 (kn) {]Imcw e`n- p \nipxn Hgnhv H c e w cq]-bmbn \ne-\n Øn. CXv Db Øp- -Xn-eqsS \nt ]w t{]m mln- n- p-sa IW- p-iq- -ep-ifpw sx n. a v \nipxn m_p-ifnsem pw bmsxm cp am hpw hcp-øn-bn-. A v e w apx ]Øv e w cq] hsc 20 ix-am-\w, ]Øv e -Øn\v api-fn 30 ix-am\w F \nc- n-ep \nipxn m_v XpS-cpw. 60 hbkn\v api-fn-ep- -h v \nipxn Hgnhv ]cn[n aq v e w, 80 hb-kn\v api-fn-ep- -h v \nipxn Hgnhv ]cn[n A v e w F o ]cn-[n-iƒ pw am -an-. AXn-k-º- v IqSp-X \nipxn G s -Sp-Øp-I-bmWv snbvx-xv. 50 e -Øn\v api-fn hcp-am-\-ap- -h v 10 ix-am\w k Nm Pv G s -Sp-Øn. hcp-am\w Hcp timsn v api-fn-em-sw- n 15 ix-am-\-amwv k Nm Pv.

11 _P- nse ]pxnb \n tz-i {]Imcw `qantbm si n-stam hmßn-b-xn\p tijw c v h jw Ign p hn m e`n- p em`sø Zo L-Ime aqe-[\ t\ ambn IW- m- pw. hkvxp-hn \ c v h jw Ign-s - n \nipxn Ipdbpw `qanbpw si n-s-ßfpw hn p- -XneqsS e`n- p aqe-[\ t\ -Øn\p \nipxn _m[yx Ipd-bv p \n tz-i-ß-fmwv [\- Im-cy-a{ n Acp sp ven Ah-X-cn- n _P- n-ep- -Xv. `qantbm si n-stam hmßnb-xn\p tijw c v h jw Ign p hn m e`n- p em`sø Zo L-Ime aqe-[ \ t\ ambn IW- m- p ]pxnb \n tzi-amwv _P- n-ep- -Xv. \ne-hn `qan, hosv, si nsw XpS-ßnb kzøp ƒ aq v h j-øn\v api-fn ssi hiw sh -Xn\p tij-amwv hn p- -sx- n AXneqsS e`n- p em`sø Zo L- Ime aqe-[\ t\ ambpw aq v h j-øn Xmsg ssihiw sh -Xn\p tij-amwv hn p- -sx- n {lkz-ime aqe-[\ t\ ambp amwv IW- m- p- Xv. hn \ \S h j-amwv t\ -Øn-\p \nipxn Npa-Øp- Xv. timãv C ^vtf-j C UIvkv A\pk-cn mwv Zo LIme aqe-[\ t\ w IW- m- p- Xv. Hmtcm h j-søbpw timãv C ^vtf-j C UIvkv A\p-k-cn v `qanbpsstbm si n-s-øn-s tbm hn \ \S h jsø aqeyw IW m- p- p. timãv C ^vtf-j C UIvkns ASn-ÿm\ h jw \ne-hn 1981 BWv. CXv 2001 Bbn ]p\ \n W-bn- m\pw _P- n \n tz-iap- v. timãv C ^vtf-j C UIvkv A\pk-cn p aqeyw IW- m- p-tºmƒ kzøv ssihiw sh Ime-b-f-hnse ]W-s -cp w IqSn IW- m- p-ibpw AXn-\-\p-k-cn v kzøns hne ]p\ aq-ey-\n Wbw snøs -Sp-Ibpw snøp- p. hmßnb hnebv p ]Icw ]p\ aq-ey-\n Wbw snø-s - hne ASn-ÿm-\-am n t\ w IW- m- p- -Xn- \m \nipxn _m[yx Ipd-bp- p. `qan-bp sstbm si n-s-øn-s tbm timãv C ^vtfj C UIvkv A\p-k-cn p aqey-tø- mƒ A[n-I-ambn e`n XpI-bpsS 20 ixam-\-amwv Zo L-Ime aqe-[\ t\ \nip- Xn-bmbn \ ti- -Xv. c v h j-øn\p apºmwv hn p- sx- n t\ -ambn e`n XpIsb samøw hcp-am-\-øn Dƒs -SpØn \nipxn m_v A\p-k-cn v \nipxn \ I-Ww. Zo L-Ime aqe-[\ t\ w IW- m- ptºmƒ hn -\-bp-ambn _ -s - p- mb timãv C ^vtf-j C U Ivkv A\p-k-cn mwv `qan-bp sstbm si n-s-øn-s tbm hn \ \S h jsø aqeyw IW m- p- -Xv. timãv C ^vtf-j C U- Ivkns ASn-ÿm\ h jw \ne-hn 1981 BWv. CXv 2001 Bbn ]p\ \n W-bn- m _P- n \n tz-i-ap- v. sne-hp-ifpw (DZm: IΩn-j ) tamsn-]n-sn- n- -en-\p snehpw hmßn-bxp-ambn _ - s - p- mb sne-hp-ifpw (DZm: IΩn-j ) Ingn- mw. hmbv] FSp-ØmWv hosv sh sx- n t\csø hmbv]-bpss ]en-i-bv p \nipxn Hgnhv Ah-Im-i-s - n- n-s - n AXv IqSn Ingn- m-hp- -Xm-Wv. F m {lkz-ime aqe-[\ t\ w IW- m- p-tºm ƒ Cu Ingn-hp-I-sfm pw Ah-Im-i-s -Sm- \m-in-. AXn-\m c v h jw ssihiw sh -Xn\p tijw hn m Cu Ingn-hp-Ifpw aqe-[\ t\ Øn\p Cfhpw t\sn-sb-sp- mw. ]pxnb `h\w hmßp-itbm \n an- p- Itbm snøp- -Xn-eqsS aqe-[\ t\ \nip Xn Hgn-hm- m-hp- -XmWv. hn \ \S v Bdp amk-øn-\p n \mj-w sslth AtXm-dn ntbm dqd Ce-Iv{Sn-^n-t -j tim -td-jt\m ]pd-øn-d p, \n ±njvs t_m p-i-fn Zo L-Ime aqe-[\ t\ w aq v h j-tø v \nt -]n- p-i-bm-sw- n \nipxn Hgn-hm- mw. ]c-am-h[n 50 e w cq]-bm-wv Cßs\ \nt -]n- m-hp- -Xv. B-Zmb \nipxn dnt ka n- p- - Xn\p apºv Hcp hy n v BkvXn hmßm t\m \n an- mt\m km[n- n-s - n aqe-[\ t\ -am-bp XpI Im n- skbn kv A u vkv kvioan \nt -]n- p-i-bm-sw- n Cfhv e`n- pw. \n ±njvs ka-b-øn- \p- n `h\w hmßp- -Xn-\mbn Cu \n t ]w ]n osv ]n h-en- m-hp- -Xm-Wv. sluvpv Hmlcn s^{_p-hcn

12 Cover Story cmpo-hvkm n CIzn n kvioan\v _P- n Nc-a-Ip-dn v 2018 G{]n H v apx- cmpo-hvkm n CIzn n tkhnmvkv kviow {]Im-c-ap \nipxn Cfhv \n Ø-em- m\mwv _P v tcjbn \n tz-in- p- -Xv. 12 sluvpv Hmlcn s^{_p-hcn 2017 Hml-cn-I-fn BZy-ambn \nt -]n- p- h v \nipxn Cfhv e`y-am- p cmpohvkm n CIzn n tkhnmvkv kviow \n Øem- m-\mwv _P- n [\-a{ n Acp sp ven \n tz-in- p- -Xv. Ipd p t] am{xw {]tbm-p-\-s -Sp-Øp Cu kviow {]Im-cap \nipxn Cfhv kmº-øni h jw apx d±m- m-\mwv \n tz-iw. \ne-hn BZy-ambn Hmlcn \nt ]w \S-Øp 12 e w cq] hsc hcp-am-\-ap -h mwv Cu kvioan\p Iogn-em-bn \n IpXn Cfhv e`n- p- -Xv. BZm-b-\n-IpXn \nbaw 80 (kn) A\p-k-cn v e`n- p H c e w cq] hsc-bp \nipxn Cfhn\v ]pd-sa-bm-wn-xv. Cu kviow {]Imcw XpS bmbn aq v h jw hsc \nipxn Cfhv t\snsb-sp mw. 50,000 cq] hscbmwv Cu ] -Xn p Iogn-embn \nt -]n- mhp Xv. \nt -]- Øns 50 ix-am\amwv \nip-xn- Cfhn \mbn ]cn-k-wn- pi. AXm-bXv Cu kvioan \v Iogn-embn 50,000 cq] \nt -]n- p h v 25,000 cq] hsc-bp XpI-bv v \n IpXn Cfhv e`y-am-ipw. Cu kviow {]Im-cap \nt -]-Øn\v aq v h jw \n _- nx \n t ] Ime-b-f-hp- v. t\csø Uoam v A u v Xpd- n pw C Xp-hsc Hmlcn \n t ]w \S-Øm-Øh pw cmpohv Km n CIzn n tkhnmvkv kviow {]Imcw \nipxn Cfhv e`yamwv. Cu kvioan\p Iogn-embn \nipxn Cfhv e`n- p ayqnz ^ v ] -Xn-Ifpw \ne-hnep v kmº-øn I h j-sø ti{µ _P- n-emwv A sø bp]nf k m-cnse [\-Im-cy-a-{ n-bm-bn-cp {]W_v apj Pn cmpohvkm n CIzn n tkhn Mvkv kviow BZy-ambn Ah-X-cn- n- Xv. BZyw 10 e w cq] hsc hcp-am-\-ap -h mwv Cu kvioan\p Iognem-bn \nt -]n- m-am-bn-cp- -Xv Cu ]cn[n 12 e -ambn Db Øn. B`y- c aqe-[\ hn]-wn-bnte v Iq Sp-X \nt ]w sim p-h-cn-i-sb e y-tøm-ss-bmwv Cu kviow \S- n-em- p- sx pw CXv C y-bnse Hmlcn \nt Cu kviow {]Imcw \nipxn Cfhv t\sp- Xv Npcp w t] am{x-am-sw pw 2012se [\-Imcy \nb-aønse 6- F A[ymbØn\p Iogn-embn ]e Xc-Øn-ep CfhpIƒ \ Ip- -Xns\ bp n-k-l amt -Xp-s pw Nq n- Im nbmwv kviow apx \n Ø-em- p- -Xv. ]w kwkvimcw hn]p-e-am- p-sa- p-amwv A sø bp]nf k m ]d- n-cp- -Xv. F m Cu kviow {]Imcw \nipxn Cfhv t\sp- Xv Npcp w t] am{x-amsw pw 2012se [\-Imcy \nb-aønse 6- F A[ymbØn\p Iogn-embn ]e Xc-Ønep CfhpIƒ \ Ip- -Xns\ bp n-klamt -Xp-s pw Nq n-im n kmº-øni h jw apx Cu kviow {]Im-c-ap \nipxn Cfhv Ah-km-\n- n- p-sa v _P v tcj-bn ]d-bp- p. AtX kabw kmº-øni h j-øn Cu kviow {]Imcw \nipxn Cfhv t\sn-sb-sp- mw. Aßs\ \nipxn Cfhv t\sp- -h v \ne-hn-ep N w A\p-kcn v hsc \nipxn Cfhv t\sm-\pam-ipw G{]n H v apx-emwv \nipxn Cfhv kw_- n ]pxnb N w \ne-hn hcp- -Xv kmº-øni h j-øn Cu kviow {]Imcw BZy-ambn Hmlcn \n t ]w \S-Øp- -Xn-eqsS \nipxn Cfhv t\sn-sb-sp- m-\m-in-.

13 Economy Watch "szb Cukv t\m {^o e v' F Cw ojv ]g-sam-gnbv v ]mt-t`zw Hcp- p-i-bmwv Iº-\n-Iƒ. {^o e v BZyw \ Ip-I, e ns cpnn v ASn-s -Sp- -hsc ]n osv Xß-fpsS \nxy D]-t`m- m- -fm n am p-i.. CXmWv ]pxnb ImesØ _nkn-\kv X{ w. C v ISw, \msf sdm w si.ac-hnµv D]t`m- m- ƒ v Hcp ]pxnb kuicyw kup-\y-amtbm Ipd sne-hn-tem Hcp- p-i, ]Xps B kui-cy-øns D]- tbmkw Hcp ioe-am n am p-i, ioew Hgnhm- m-\m-imøxmip- -txmss D]-t`m- m- sf XßfpsS hcp-xn-bn-te v sim ph-cn-i, Ah-cn \n pw axn-bmb Nm Pp- Iƒ CuSm n XpS-ßp-I, ]Xps AXphsc \S-Øn-h ]co WsØ em` a-x-bn-te v Db Øp-I B[p-\nI Ime sø tkh\ _nkn-\kv taj-e-bnse Hcp coxn-bmwv CXv. _m p-iƒ apx ssen timw hsc C s\ v tkh\ ZmXm- ƒ apx timƒ SmIvkn hsc Cu coxn-bmwv C v ]b- p- -Xv. DZm-l-c-W-Øn\v FSnFw/sU_n v Im UpIƒ v ap Im-e-ß-fn _m p-iƒ Nm Pp-Iƒ CuSm- n-bn-cp- n-. tkhnwkvkv _m v A u v Xpd-bv p- -Xn-s\m w e`n- p Hcp kup\y tkh-\am-bn-cp p AXv. F m C v Im UpIƒ v _m p- Iƒ Nm Pv CuSm- p- Xv D]-t`m- m- ƒ ]e-t mgpw Adn-bp- Xv Xs -bp- m-in-. A u- n \n v Hmtcm h jhpw _m p- Iƒ Nm Pv CuSm- p- Xv _m v tã vsa v FSpØp t\m p-tºmtg AdnbpI-bp- q. timƒ SmIvknbpw samss_ hme- pw t]mep C s\ v A[n-jvTnX tkh-\- ߃ \ Ip Iº-\n-Ifpw Ct mƒ ]b- p- Xv kam\ X{ -am-wv. hfsc Xmgv \nc- n Imdn k -cn- m-\p kuicyw Hcp- p timƒ SmIvkn Iº- \n-ifpw bmsxmcp Nm Ppw CuSm- msx UnPn- ]W-an-S-]m-Sp-Iƒ v thzn-sbm-cp- p samss_ hme- p-ifpw D]-t`m- m- fn ]pxnb ioe-߃ \ p-]n-sn- n- p- I-bmWv snøp- -Xv. ioew D]-t`m- m-hn\v Hgn- p-iq-sm-\m-im-ø-xmbn amdn-sb v Dd- m- Ip- -txmss ]Xps kup-\y-߃ C m- Xm-Ip-Ibpw -Iº\n-Iƒ ]pxnbtxm Db txm Bb Nm Pp-Iƒ CuSm- n-xp-s-ßp- Ibpw snøpw. ssentimw tkh\ cwkøv hnπhw krjvsn- p-sim v IS- p-h dne-b kv Pntbmbpw snøp- Xv CXp-X-s -bm-wv. F m amkhpw Hcp Pn_n Um kup-\yambn \ Ip-Ibpw Um A[n-jvTnX timfp- Iƒ kup-\y-am- p-ibpw snbvx dneb kv Pntbm D]-t`m- m- sf BI jn- m-\mbn snøp ]co- Ww F{X I v hnp-b-i-c-am-ip-sa pw ssentimw _nkn-\- kns apt m- p-t]m- ns\ Xs Cu ]co- Ww kmc-ambn _m[n- n-t -sb- p-ap kwi-b-߃ hym]-i-am-bn-cp- p. H c \ne-hn dne-b kv Pntbm-bp ss kup\y tkh\w D]-tbm- Kn- p 86 ix-am\w t]cpw kup\y Hm^ Ime-b-f-hn\p tijhpw Pntbm-bn Xs XpS-cp-sa v hy -am- n-b-xm bn _m v Hm^v Ata-cn sa dn en v \S-Ønb k th bpss ^ew hy -am- p- p. e w timsn cq] apx ap-s n XpS-ßnb Hcp kwcw-`-sø CØcw ]co- -Wß-fneqsS Fßs\ em`øn-te v FØn- m- \m-ip-sa tnmzyhpw i -am-bn-cp- p. F m a v tkh\ ZmXm- -fpss D]-t`m- m- sf Xß-fn-te v BI jn- m\pw D]-t`m- m- -fpss hn]p-e-amb ASn-Ød krjvsn m\pw snbvx ]co- Ww hnp-b- I-c-am-bn-cp- p-sh- mwv dnt m p-iƒ Nq n- m- p- -Xv. \ne-hn dne-b kv Pntbm-bpsS kup \yw D]-tbm-Kn- p 86 ix-am\w t]cpw kup\y Hm^ Ime-b-f-hn\p tijhpw Pntbm-bn Xs XpS-cp-sa v hy -am- nb-xmbn _m v Hm^v Ata-cn sadn en v \S-Ønb k th hy -am- p- p. am{xhp-a Ch-cn 57 ix-am\w t]cpw G hpw hne Ipd ]mt -Pn\v ]Icw cq]-bpss ]mt Pv kzoi-cn- p-sa pw ]dbp-tºmƒ dne-b kv Pntbm-bpsS ]co- Ww hnp-bn- p-sh v Xs \nco- - I v ]d-bmw. Unkw-_ 31 hsc \ In b kup\y Hm^ F n\v \o n-sb- - Xn\pw D]-t`m- m- -fpss Cu {]Xn-I-cWw DØcw \ Ip- p. "szb Cukv t\m {^o e v' F Cw ojv ]g-sam-gnbv v hi-t`zw Hcp- p-ibmwv Cu Iº-\n-Iƒ. {^o e v BZyw \ Ip-I, ]n osv e ns cpnn v ASns -Sp- hsc Xß-fpsS \nxy D]-t`m- m- -fm n am p-i... CXmWv ]pxnb ImesØ _nkn-\kv X{ w. AXn-\n-S-bn t\csø \ Inb {^o e n\v Dƒs ss Nm Pv CuSm- p _nkn-\kv em pw Cu X{ -Øn\v ]n n-ep- m-imw. sluvpv Hmlcn s^{_p-hcn

14 Economy Watch t\m v ac-hn- n- \S-]-Snsb XpS v D]-t`m-K-sØ apt m- p-sim- p-t]m-bn-cp Hcp kmº-øni kml-n-cy-amwv ASn-apSn amdn-b-xv. AXp-sIm- p-xs D]-t`m-K- ta-j-e-i-fnse _nkn-\kv hym]vxw ]gb \ne-bn-te v Xncn-sI-sb-Øn p- Xv H pw Ffp- -a-. t\m v ac-hn- n- \S-]Snsb XpS v Imdp-Ifpw tamt m ssk- n-fp-ifpw {S p- Ifpw hmßp- Xv \o n-sh- m D]-t`m- m- ƒ t{]cn-xcmip- p-sh v hy -am ns m v Unkw_-dn hml\ hn \ 16 h jsø Xmgv \ne-hm-c-øn-em-sw-ønb-xv. C y kº-zvhy-h-ÿ-bpss Nme-Ii- n-bmb D]-t`m-KsØ Hcp ]cn[n hsc ac-hn- n- p-i-bmwv t\m v ac-hn- n- \S- ]Sn snbvxn-cn- p- -sx kqn-\-bmwv CXv \ Ip- -Xv. hf p hni-kn- p-sim- n-cn- p C y-bpss "I kw-]vj tãm dn'bpss KXn-sb-bmWv Xo Øpw A{]-Xo- n-x-ambn h Cu "s\k- ohv SznÃv' hgn- Xn-cn- p-hn- n-cn- p- -Xv. t\m v ac-hn- n- \S-]-Sn-bn-eqsS "I kw-]vj tãmdn'bpss kv{in]v v Xs Xncp-Øn-sb-gp-Xnb k m kpk-a-amb KXn-bn-te v Imcy-߃ XncnsI-sb-Ø-W-sa- n B kv{in]v n `mh- \m-]-chpw {Inbm-fl-I-hp-amb ]pxnb SznÃp- Iƒ Fgp-Xn-tN t -Xp- v. hml\ hn -\-bpss IW- p-iƒ cm Py-Øns samøw D]-t`m-Kw ]nt m- p-t]m- Ip-sa pw AXv kmº-øni hf sb ]n t m- -Sn- n- p-sa pap \nk-a-\-ßsf icnsh-bv p- p. skmssk n Hm^v C y Hm t m-sam-ss_ am\p-^m-ivn-tdgvkv (kn-bmw) 14 sluvpv Hmlcn s^{_p-hcn 2017 kº-zvhy-hÿ F hml-\- Øns Ime- -g w sn ]gb Sb-dp-Iƒ am n IqSp-X thkw \ Im B[p-\n- I-amb N{I-ß-fn-Sm Hcp-ßp- I-bmtWm k m- F tnmzyw AXoh {]k- -am-wv. Aß-s\-sb- n ]pxnb N{I-ß-fpsS cq]ls\ Fß-s\bm-bn-cn pw? \ Ip IW- p-iƒ A\p-k-cn v 2015 Unkw-_-dn e w hml-\-߃ hn p-t]mb ÿm\øv e w hml-\- ߃ am{x-amwv I gn Unkw- _-dn hn -Xv. Unkw-_- dnse Ccp- N{I hm l\ hn \ ap h jw Unkw-_-dp-ambn Xmc-Xayw snøp-tºmƒ 22 ix-am-\-amwv CSn- -Xv knbmw hml\ hn \ kw_- n IW- p-iƒ tcj-s -Sp-Øm XpS-ßn-b-Xn\p tij-ap G hpw henb CSn-hm-Wv Ccp-N{I hml\ cwk-øp- mb-xv. C y-bnse samøw hml\ hn -\- bpss 75 ix-am-\hpw Ccp-N{I hml-\- ß-fm-Wv. Ccp-N{I hml\ hn -\- bpss ]Ip-Xnbpw {KmaoW taj-ebn-em-sw- n-cns {Km aow taj-e-bnse Unam ns kp{]-[m-\-am b Hcp kqn-iamwv Ccp-N{I hm l-\ hn -\. hn \ Ipd- -Xn-s\m w Ccp-N{I hml\ D m-z\w 22 ix-am\w Ipd-bp-Ibpw sn bvxp. t\m v ac-hn- n- - Bfp-I-fpsS ]Ww sne-hn-sp ioesø kmc-ambn _m[n- p-

15 sh- mwv Cu IW- p-i-fn \n pw a\- kn-em-t - -Xv. C y-bnse P\-ß-fpsS D]- t`m-k-øns hen-sbmcp Afhpw IW- n s]-smø ]Ww (A -A- u- Uv awn) hn\n-tbm-kn- mwv \S- p- -Xv. C y-bpss PnUn-]n-bpsS 62 ix-am-\hpw "ªm v awn' bm-sw- mwv Nne kmº-øni hnz-kv[ Nq n- m- p- -Xv. \nipxn he-bn s]smø Cu ]WamWv hml\w apx kz Ww hsc- \ofp D]-t`m-K- ta-j-e-i-fn-se _nkn-\-kns \s mcp ] pw kw`mh\ snøp- -Xv. s]msp- s\ Hcp Znhkw cm{xn Cu IW- n s]smø ]WØns hn\n-ab coxn-isf _m[n pw hn[w t\m piƒ ]n h-en- -s - -txmss D]-t`m-K-sØ apt m- p-sim- p-t]mbn-cp Hcp kmº-øni kml-n-cy-amwv ASn-apSn amdn-b-xv. AXp-sIm- p-xs D]- t`m-k-ta-j-e-i-fnse _nkn-\kv hym]vxw ]gb \ne-bn-te v Xncn-sI-sb-Øp-I-sb- Xv H pw Ffp- -a-. BtKmf kmº-øni amµy-øns Ime-b-f-hn C y-bn AXns Xo{hX A\p-`-h-s -Sm-Xn-cp- -Xn\v ImcWw i - amb I- - -WØns kam- c kº-zvhyhÿ ChnsS \ne-\n- n-cp- -Xp-sIm- msw v kmº-øni hnz-kv[ A`n-{]m-b-s - n- p-s DØ {]tziv apjy-a{ n AJntejv bmzhns {]kvxm-h\ t\m v ac-hn- n- \S-]-Snbv p tij-ap khn-tij C y kml-n-cy-øn Gsd {]k- -am- Wv. BtKmf kmº-øni amµy-øns {]Xn-^-e\w C y-bn Ipd Af-hn am{x-ap- m-b-xns ImcWw \ΩpsS kº- Zvhy-h-ÿ-bpsS \s - mb D]-t`m-KsØ hen-sbm-c-f-hn apt m- p-\bn p IW- n s]smø ]-W-am-Wv. BtKmf kmº- ØnI amµy thf-bn F^v-Fw-knPn t]mep D]-t`m-Km-[vjn-TnX taj-e-iƒ ani hf ssih-cn- Xv DZm-l-c-Ww. \S p kmº-øni h jw kmº-øni hf Ipd-bp-sa- Xv ]I t]mse hy w. Cu h jhpw cmpyw Ggv ix-am-\- Øn\v api-fn hf ssih-cn- p-sa k m-cns IW- p-iq- -ep-isf KthjW td- nwkv ÿm]-\-߃ icn-sh- p- n-. G{]n apx HIvtSm-_ hsc-bp Ggv amksø hnhn[ taj-e-i-fpss hf m \nc- ns\ ASn-ÿm-\-am- n-bmwv ti{µ k m-cn\v Iogn-ep sk {S Ãm n-ãn- Hm K-ss\-tk-j (kn-f-kv-h) 7.1 ix-am\w hf {]hnn- -Xv. t\m v ac-hn- n- \S-]- Sn-bpsS {]Xym-Lm-X-߃ Cu {]h-n- \-Øn {]Xn-^-en- n- n-. td nwkv GP kn-i-fmb sfkn-b -Fbpw sib td nwkvkpw 6.8 ix-am\w hf {]hnn- p-tºmƒ {Inkn-ens IW v 6.9 ix-am-\-am-wv. HmSp Imdns Sb-dp-Iƒ ss{uh Xs shsn-sh v {]h Ø\ cln-x-am- p- Xp t]mep \S-]-Sn-bmWv t\m v ac-hn- n- -se [\-Imcy imkv{x- -\mb s{]m^. Po s{usk-bpss \nco- Ww C y kº-zvhy-h-ÿ-bpss hf v B w Iq p D]-t`m-K-Øn\v ISn- - m how Ct m-gsø kml-n-cy-øn Hcp Xc-Øn icn-bm-wv. F m Ime- -g w t\m v ac-hn- n- \S-]-Sn sb XpS v _m p-i-fpss ssih-i-sa-ønb henb Afhn-ep aqe-[\øns ^e- {]-Z-amb hn\n-tbm-k-amwv Hcp am Kw. ]en-i-\n-c v C\nbpw XmgvØp-Ibpw `h\ hmbv] snehv Ipd Xm p-i bpw snbvxm "luknwkv _qw' Xs krjvsn- m-\m-ipw. sn ]gb Sb-dp-Iƒ am n kº-zvhyhÿ F Imdn\v ]pxnb IpXn pw thkhpw \ Im B[p-\n-I-amb N{I-ß-fn-Sm Hcp-ßp-I-bmtWm k m-sc tnmzyw AXoh {]k- -am-wv. Aßs\-sb- n ]pxnb N{I-ßfpsS cq]-l-s\ Fß-s\-bm-bncn pw? GXv X c-ønep \S-]-Sn-I-fn-eq-sSbmIpw k m kº-zvhy-h-ÿsb ]pxnb thk-ønte v \bn- m t]mip- Xv? t\m v ac-hn- n- \S-]-Snsb XpS v _m p-ifpss ssih-i-sa- Ønb henb Af-hnep aqe-[\øns ^e-{]-z-amb hn\n-tbm- K-amWv Hcp am Kw. ]Ws -cp w Gsd Ipd- n-cn- p kml-n-cy-øn ]eni-\n-c v C\nbpw XmgvØp-Ibpw `h\ hmbv] IqSp-X snehv Ipd \ne-bn \ Ip-Ibpw snøp- I-bm-sW- n Hcp "luknwkv _qw' Xs krjvsn- m-\m-ipw. bpf- n _n n {]kn-u mbn-cp ImeØv XpS- -an luknwkv _qw BWv B cmpy-øns kº-zvhy-h-ÿ-bpss hf -bv v ]pxnb thkw \ InbXv F Imcyw ChnsS Hm m-hp- -Xm-Wv. Ct mƒ F v ix-am-\øn\v ASp-sØØn \n p `h\ hmbv]bpss ]en-i-\n-c v Bd-c Ggv ixam-\-ambn Ipd-bp-Ibpw snehv Ipd hosp-iƒ v ]pxnb B\p-Iq-ey-ßfpw Cfhp-Ifpw {]Jym-]n- p-ibpw snøp-i-bm-sw- n Hcp `h\ hnπhw Xs krjvsn- m k m-cn\v Ignbpw. D]-t`m-K-Øns a s mcp coxn-bn-ep IpXn- mipw AhnsS kw`-hn- p- -Xv. ]t CXv kw`-hn- -W-sa- n ]pxnb sxmgn-ehk-c-߃ krjvsn- -s -SpIbpw P\-ß-fpsS hcp-am-\-øn axn-bmb h [- \-bp- m-ip-ibpw thww. tamzn k m A[n-Im-c-Øn-tedpw apºv hmkvzm\w snbvx coxn-bn sxmgn-ep-iƒ krjvsn- -s -Sp- Itbm sxmgn A -co w amdp-itbm snbvxn- n-. kº-zvhy-h-ÿsb IpXn- n- m ]mi-øn ]pxnb sxmgn Ah-kc-߃ krjvsn- m k m GXp Xc- Øn-ep \S-]-Sn-Iƒ kzoi-cn- p-sa- -XmWv ASpØ tnmzyw. Cu tnmzy-߃ p adp-]sn sshim sx e`n- p-sa v Icp-Xmw. C y kº-zv hy-hÿ GXv {Sm n-emwv C\n k -cn- p- I-sb Xn\p DØ-cw IqSn-bmIpw AXv. sluvpv Hmlcn s^{_p-hcn

16 Focus s^{_p-hcnbnepw am n-ep-ambn \S- p DØ {]tziv Dƒs -ss-bp A v kwÿm-\-ß-fnse \nb-a-k`ifn-te- p Xnc-s -Sp- p-ifpw Cu h jw c mw ]Ip- Xn-tbmsS \S- m\n-cn p KpP-dmØv \nba-k`m Xnc-s -Sp pw {][m-\-a{ n \tc{µ tamzn-sbbpw _nsp]nsbbpw kw_- n v 2019se ]m e-sa v Xnc-s -Sp- ns skanss^-\-em-wv. skan-ss^-\ Pbn- Xp sim p ss^\ Pbn- -W-sa- n-. F m ss^\en Pbn -W-sa- n skan-ss^-\ Pbnt Xocq. tamznbpw _nsp-]nbpw Acbpw Xebpw apdp- n-bn-dßp Cu Xnc-s -Sp v bp w cmpym- c Xe-Øn Xs {i t\sp- Xv k mcns t\m v ac-hn- n- Dƒs -ss-bp \bß-fpss IqSn ] m-ø-e-øn-em-wv. s^{_phcn \men\v XpSßn am v F n\v Ah-km-\n- p- hnhn[ L -ß-fmbmWv DØ {]-tz-iv, ] m-_v, DØ-cmJ- WvUv, tkmh, awn- q F o A v kw ÿm-\-ß-fnse Xnc-s -Sp v ]q Øn-bm-Ip- -Xv. am v 11\v thms -Sp v ^ew. GXm v Hcp amk-øn-\p- n A v kwÿm- \-ß-fnse Xnc-s -Sp v ]q Øn-bm- p- Xv A]q h-amwv. C{Xbpw kwÿm-\-ß-fnse Xnc-s -Sp- p-iƒ ]e amk-ß-fn-embn \S- Øp- -XmWv km[m-cw Xnc-s -Sp v I Ωn-js coxn. s^{_p-hcn H n\v ti{µ _P v Ah-X-cn- n- Xn-eqsS Cu Npcp-ßnb kab ]cn-[n-bv p- n A v kwÿm-\- 16 sluvpv Hmlcn s^{_p-hcn 2017 ß-fnse Xnc-s -Sp v ]q Øn-bm- p- - Xn-\p ] m-ø-e-amwv ti{µ-k m Hcp- n-b-xv. t\m v ac-hn- n- \S-]Sntbm Spw _P- n-t\m-sp-ap P\-ß-fpsS ASn-b- nc {]Xn-I-cWw F p Xs -bm-bmepw AXv Cu A v \nb-a-k`m Xncs Sp- p- I-fnepw {]Xn-^-en- pw. t\m v ac-hn- n- ent\msv P\w Fßs\ {]Xn-I-cn pw? t\m v ac-hn- n- \S-]Sn hym]-i-am bn hna in- -s -Sp thf-bn-emwv Xncs -Sp v \S- p- -Xv. km[m-cw P\-ßfp-sS, {]txy-in v {KmaoW taj-e-bnse P\- ß-fpsS ssz\w Zn\ Pohn-X-sØ t\m v ]n I - -WsØ C m-xm- m- \mwv t\m v ac-hn- n- \S- ]-Sn- sim p-h -sx {][m- \-a{ n \tc{µ tamzn-bpss bpw _nsp-]n-bp-ssbpw Ah- Im-i-hmZw P\-߃ F{X- I v AwKo-I-cn- psh- tnmzyøn\v A v \nb-a-k- `-I-fn-te- p Xnc-s -Sp- p-iƒ DØcw Xcpw. h-en- Xv kmc-ambn _m[n- p-sh hna i \w \ne-\n p thf-bn Cu P\-߃ thms Sp- p-i-fn-eqss tamzn k m-cn-t\mspw _nsp-]n-tbmspw Fßs\ {]Xn-I-cn- p-sa- mwv \nco- -I D p-t\m- p- -Xv. P\-ß-ƒ v {]Xn-tj-[aps - n AXv Xnc-s -Sp- p-i-fn {]Xn-^-en- p-i-bmwv kzm`m-hn-i-sa- n-cns F p-sim v AXv t\m v ac-hn- n- \S-]Sn p tijw DSs\bp- mb D]-Xn-c-s -Sp- p-i-fn {]Xn- ^-en- n-s tnmzyw {]k- -am-wv. AXpsIm- p-xs D]-Xn-c-s -Sp- p-i-fnse ^ew Xs -bmwv \nb-a-k`m Xnc-s -Sp- p-i-fnepw XpScp- -sx- n AXv tamzn k m-cn\pw t\m v ac-hn- n- \S-]-Sn- p-ap P\mw-Ko-Im-c-ambn hymjym-\n- -s - Spw. tamzn k m-cn\v Xß-fpsS thdn \bß-fp-ambn apt m- p-t]m-im-\p Du P-ambn-cn pw AØ-c-samcp ^ew ]I-cp- -Xv. {][m-\-a{ n \tc{µ tamznsb kw_- n v Cu Xnc-s -Sp v Xs cmjv{sob `mhn Xs \n W-bn- -s -Sp ]co- Ifnsem- m-wv. t\m v ac-hn- n- \S-]Sn Hm m- p-dømwv {]Jym-]n- -s - -Xv. AØcsamcp \S-]-Sn \n _- n-xam p GsX- n-epw Xc-Øn-ep ASn-b- nc kml-ncy-ap- m-bn-cp- n-. F n pw tamzn CØ-csamcp Xocp-am-\-sa-Sp-Ø-Xn\p ]n nse bp nsb Ipdn v kmº-øni hnz-kv[cpw \nco- -Icpw A pxw Iqdp- p. Xs {]Xn- Om-bbv v Xs tim w krjvsn- p Xc-

17 Øn hna i-\-߃ Wn p hcp-ønb CØ-c-samcp \S-]-Sn p tijw hcp Xncs -Sp v AXp-sIm- p-xs tamzn t\cn- Sp A n-]-co- -bm-wv. P\mw-Ko-Im-c-sa A n-ip n hcpøn tamzn v {]Xn- m-b v ]pxnb ]cn-thjw \ Im-\p Ah-k-cw. I - -WsØ C m-xm- m-\mwv Cu \S-]- Sn-sb tamzn-bpss Ah-Im-i-hmZw P\-߃ F{X-I v AwKo-I-cn- psh- -Xn\v Xnc-s - Sp- p-iƒ DØcw Xcpw. kwÿm-\-ß-fnse cmjv{sob Imem-hÿ hyxykvxw A v kwÿm-\-ß-fn DØ {]tzinte- mwv F m IÆp-I-fpw. kam- PvhmZn ]m nbpw tim {Kkpw \nxojv Ipam-dns spun-bphpw B -F Unbpw tn p kjyw \ne-\n p-tºmgpw _nsp]n {]Xo- -tbmss D p-t\m- p DØ {]-tz-in bp w simgp- pw. 2014se ]m e-sa v Xnc-s -Sp- n {]mtz-ini ]m n-i-fmb kampv hmzn-bp-ssbpw _nfkv]n-bp-ssbpw Nnd-Ip-I-f-cn v 71 temivk `m ko p-i-fn (403 \nb-a-k`m ko p-i-fn 328epw _nsp-]n- m-bn-cp p ap Xq- w) hnp-bn _nsp-]n v B hnpbw aq v h j-øn\p tijw Bh Øn- m\m Ipsa {]Xo bns - nepw A sø ]n pwbpss \s mcp ]s - nepw \ne-\n Øm km[n- m \nb-a-k`m Xnc-s -Sp- n ap t -dm-\m-ipw ix-am- \-Øn-tesd thm v t\sn-bmwv ko pw _nsp-]n Pbn- -Xv. Hmtcm awvu-e-øn-se bpw ix-am\w thm v t\ Sn-bm Pbn- m-\m-ip-sa- mwv \nco- -I Nq n- m- p- -Xv. 2014se temivk`m Xnc-s - Sp- n DØ {]-tz-inse 81 ix-am\w ko p-ifpw t\snb _nsp-]n v B hnpbw aq v h j-øn\p tijw Bh Øn- m\mipsa {]Xo bns - nepw A sø ]n pwbpss \s mcp ]s - nepw \ne-\n Øm km[n- m \nb-a-k`m Xnc-s - Sp- n apt -dm-\m-ipw. Cu h jw \S- p cmjv{s-]-xn, D]- cm-jv{s-]xn Xnc-s -Sp- p-i-fn X߃ v CjvS-ap ÿm\m nsb hnp-bn- n- p DØ-cm-J-WvUn `c-w-i- n-bmb tim {K-kn-s\-Xn-cmb hnimcw _nsp-]n v KpW-I-c-am-Ip-sa- mwv {]Xo-. hnax km n-[yhpw Agn-aXn Btcm-]-W-ßfpw tim {Kkv k m-cns {]Xn-Om-bsb sisp-øn-bn- p- v. ] m-_n {XnI n t]mcm- -amwv \S- p- -Xv. _nsp-]n- -intcm-awn A-Im-en-Zƒ kjy k m-cns Zp _-e-amb {]Xn- mb {]Xn-]- sø klm-bn- p-sa \nk-a-\- ߃ \ne-\n p- p. tim {K-kn\v ASn- Ø-d-bp kwÿm-\øv Bw BZvan ]m n i -amb sh p-hnfn Db -Øp- -txmss `cw hncp hnimcw c v Zni-I-fn-te v Xncn-bm km[y-x-bp- v. Zn n-bnse h hn- P-b-Øn\p tijw Bw BZvan ]m n tziob ]m n-bmbn amdm-\p {ia-øns `mk-ambmwv ] m-_nepw tkmh-bnepw a -cn- p- -Xv. tkmh- `cn- p _nsp-]n v `cww \ne-\n ØpI Ffp- -a-. Bw BZvan ]m n Imcy-Ønepw _nsp-]nsb kw_- n v DØ {]-tziv Xncs -Sp v ^ew \n Wm-b-I-am- Ipw. DØ {]-tziv Xnc-s -Sp v ^ew _nsp-]n v A\p-Iq-e-as - n cm{ -]Xn Xnc-s -Sp- n Ah-cpsS km[y-x-iƒ C m- Xm-Ip- n-s - nepw {]Xn-]- - Øn\v Xnc-s -Sp- n ]nsn-ap-dp- m-\p km[yx AXv krjvsn- pw. bn \n pw tim {K-kn \n pw i - amb a -c-amwv Ah t\cn-sp- -Xv. tziob Xe-Øn Xo Øpw Zp _-eamb tim {K-kn\v {]Xo- -bp kwÿm- \-amwv awn- q. `cww \ne-\n Øm-\m- Ip-sa {]Xo tim {K-kn-\p-s - nepw adp-`m-køv _nsp]n hs p Ing- taje-bnse Xß-fpsS km n[yw hn]p-e-am- p- -Xn-\p {ia-øns `mk-ambn i -amb thms -Sp v X{ -ß-fp-am-bmWv apt m- p-t]m- Ip- -Xv. sluvpv Hmlcn s^{_p-hcn

18 Focus H_mabpsS ssisbm v kam-[m\ hmzn-bmbpw _Z Du P am K-ß-fpsS h m-hmbpw \ne-sim _cmiv H_masb C\n temiw Hm pi Cu c v Imcy-ß-fnepw At±lØns ssisbm v ]Xn kw`m-h-\-i-fpss t]cn-em-bncn- p-w. bpfkv {]kn-u p-am-cpss \nc-bn Xo Øpw hyxy-kvx-\mbncp HcmfmWv ssh v lukn \n pw ]Sn-bn-d-ßn-b-Xv. P\m-[n- ]Xy aqey-ß-sf Db Øn- n-sn- -W-sa v Xs sshim-cn-i-amb hns-hm-ß {]kw- K-Øn Blzm\w snbvx _cmiv H_ma ]n a-s-ßp-tºmƒ P\m-[n-]-XysØ t\m p- IpØn-bm- n-s m v hnsp-hm-b\pw A m-c-iq-\y-\pamb Hcp hy n temi- Ønse G hpw henb kmº-øn I i n-bpss Xe- -søøn \n p hn Nn-{Xamb ÿn Xn-hn-ti-j-amWv temi-øn\v ap n-ep- -Xv. sum WmƒUv {Sw]v ssh v lukn-en-cn- p-tºmgmwv AhnsS Ign F v h jancp H _m-a-bpss bym -aqeyw sluvpv Hmlcn s^{_p-hcn 2017 \mw Xncn- -dn-bp- -Xv. bp -sim-xn-b amcmb ap Km-an-I-fn \n pw F{X hyxykvx-\m-bn-cp p Cu t\xm-sh v C v \mw kvacn- p- Xpw ap Km-an-Itf mƒ A]- I-S-Im-cn-bmb Hcp t\xm-hns km n-[y- Øn-em-Wv. kw`-h-_-lp-e-amb cmjv{sob Pohn-X- Øn-eqsS IS- pt]mb t\xm- sf ]n m-eøv \mw Hm p- Xv Ah temi- Øn\v \ Inb kw`m-h-\-i-fpssbpw Ah-cpsS ssisbm v ]Xn cm jv{sob am -ß-fp-sSbpw t]cnem-bncn- pw. tpm Pv U_vfyp. _pjn-s\bpw sdmwmƒuv dok-s\bpw C v temiw Hm p- Xv Ah-cpsS bp -s m- Xn-bp-sSbpw Xo Øpw GIm-[n-]- Xy-]-c-amb hntz-i-\-b-ß-fp-ssbpw Ata-cn- v ]pdøv \S-Ønb a \pjymhimi [zwk-\-ß-fp-ssbpw t]cn-em-wv. AtX kabw tpm Pv U_vfyp. _pjn-s bp -s m-xnsb tnmzyw snbvxpsim v kam-[m\ hmznbmbpw _Z Du P am K-ß-fpsS h m-hmbpw bpfkv cmjv{so-b- Øn ]nsn-ap-dp- n-b Xn\p tijw {] kn-u v ÿm \-sø-ønb H_masb temiw Hm pi Cu c v Imcyß-fnepw A t±lw ]pe Ønb i -amb \n e-]m-sp-i-fp ss t]cn-em- bncn- p-sa- Xv kp\n- n-x-am-wv. {IqUv Hm bn hne I SpØ XI sb t\cn- Xpw temi-k-º-zvhyh-ÿ-bn Xs bp {IqUv Hmbnens kzm[o-\ sø Zp _-e-s -Sp- Øn-bXpw H_m-a-bp ss khn-ti-j-amb {IqUv Hmbn hne ISpØ XI sb t\cn- Xpw temi -k-º-zvhy-h-ÿ-bn {IqUv Hmbn-en\p kzm[o-\sø Zp _-e-s -Sp-Øn-bXpw sjbn Kymkv D m-z-\ sø ]c-am-h[n t{]m m-ln- n _cmiv H_m-a-bpsS khn-ti-j-amb C \ \bam-wv. C \ \b-am-wv. Bh-iy-amb {IqUv Hmbnens \men aq pw Cd- p-axn snøp C y t]mep aq mw temi cmpy-ßfpss kº-zvhy-h-ÿbv v snehv Ipd v t\sc-\n m km[n pw hn[w BtKmf kº-zvhy-h-ÿ-bn CS-s]-Sp-I-bmWv H_ma snbvx-xv. sjbn Kymkv D m- Z\sØ t{]m m-ln- n- p C \ \b- Øn-eqsS temi-ønse C \ D]-t`m-K- Øns A\p-]m-X-ßsf H_ma am n-a-dn- p. bpf nse sjbn Kymkv D m-z\w h [n XmWv 2014 c mw ]Ip-Xn-tbmsS {IqUv Hmbn hne CSn-hn\v XpS- -an- -Xv H_ma A[n-Im-c-ta- -Xn\p tijw sjbn Kymkv D m-z\ cwkøv h \nt ]amwp- m-bxv. CXns ^e-am-bmwv sjbn Kymkv D m-z-\-øn bpfkv Gsd apt m- p-t]m-bxpw AXv FÆ D m-z\ cmpy-߃ v `oj-wn-bm-b-xpw. C v {IqUv Hmbn hnebv v Hcp ]cn-[n- - pdw Db-cm-\m-ImØ hn[w sjbn Kymkv D m-z\w hne-ßp-x-sn-bmbn \n p- p. AXns KpW-t`m- m- -ƒ C y sb t]mep aq mw InS cmpy-߃ IqSnbm-Wv P\p-h-cnbn _cmiv H_ma bpfnse BZysØ IdpØ h K- m-c-\mb {]kn-u mbn ÿm\-ta p-tºm-ƒ At±l-Øn\v A sø Xs FXn-cm-fn-bn \n pw hyxy-kvx-amb ]cn-th-j-ap- m-bn-cp- p. AXp-hsc F v h j-w bpfkv {]kn- U m-bn-cp tpm Pv _pjns hntzi Imcy \b-øns i -\mb hna i-i\pw kam- [m\ hmzn-bp-am-bn-cp p H_m-a. CdmJv bp w t]mse bpf- ns cmpym- c {]Xn-

19 m-bbn Icn-\n-g hogvønbxn\v Imc-Wamb \b-ß-fpss i -\mb hna i-i F \ne-bn {]kn-u m-b-xn\p tijw Xo Øpw hyxy-kvx-amb Hcp hntzi Imcy \bw ]n p-s-cp-i-bmwv H_ma snbvx-xv. H_m-a-bpsS F v h jsø `c-w-imeøv bpfkv \S-Ønb cmpym- c {]m[m- \y-ap GI B{I-aWw A sibvz t\xmhv _n emzs\ h[n- p- -Xn\p th n-bm-bn-cp- p. A sibvzsb C m-xm- pi F bpf- ns e y-øns `mkam-bmwv B B{I-aWw \S- -Xv. AtX kabw _pjns\ t]msem-cm-fm-bn-cp p Ata-cn- {]kn-u-s - n am[y-a-ß-fn B{I-a-W-ß-fpsSbpw bp -Øn-s bpw hm Ø-I-fpsS IpsØm-gp v Xs -bp- m-imambn-cp Xc-Øn sffkv t]mep `oic-kw-l-s-\-ifn \n v i -amb {]tim- ]\߃ Ign h j-ß-fn-ep- m-bn- p- v. F m kndnb Dƒs -ss-bp {]iv\-ßfn A{I-tam- p-i-amb hntzi \b-ønte v Xncn-bm H_ma hnap-jx Im n. temi-k-am-[m-\-øn\v t\m_ kωm\w t\snb bpfkv {]kn-u v a v cmpy-ß-sf _lp-am-\n- p hntz-i-\-b-øn Dd- p- \n- p. h j-ß-fmbn Ata-cn ]n p-s-cp-, temi-saßpw bp w Ib- p-axn snøp hn{`m n ]nsn hntzi \bsø Xncp- Øm H_m-a v km[n- p. C \ D mz\-øn kzbw]cym-]vx X ssih-cn- pi F e y-tømss bp Fkv \S-Øn-h h txm-xn-ep sjbn Kymkv D m-z-\w cmjv{so-b-amb as mcp e yw IqSn-ssIh-cn- p. FÆ D m-z- \sø am{xw B{i-bn- n-cn- p Hcp taje-bpss kmº-øni i nsb Zp _-e-s - Sp-Ønb-Xn-eqsS C m-ani `oi-c-hm-z-øns\-xnsc kmº-øn-i-amb B{I-a-W-amWv H_ma \S-Øn-b-Xv. C m-ani `oi-c-hm-z- kwl-s-\-i-fpss kmº-øni t{kmxkv FÆ-bm-Wv. sf Fkv t]mep `oi-chmz kwl-s-\-iƒ v kmº-øni ]n _eta- -Ip- -Xv Ah ssib-s- n-sh- n-cn- p FÆ- m-s-ß-fmwv. FÆ v hne-bn- m-xm-bm XI-cp- Xv CØcw kwl-s-\-i-fpss kmº-øni ]n _-e-am-wv. FÆ F `qan- -Sn-bnse Idp Ø kz Ww BtKmf-X-e-Ønse cmjv{sob \o -ßsf ]e Xc-Øn kzm[o-\n- n- p- -Xns ap Ime Ncn-{X-tØmSv tn Øphm-bn-t - -XmWv sjbn Kymkv D m- Z-\-Øn\p ]n n H_ma-bv p- m-bn-cp p cmjv{so-b-e- yw. {IqUv Hmbn-ens hne CSn- t mƒ kndn-b-bnse sff- ns Xmh-f-߃ p t\sc t_mw_v h jn- p- -Xn-t\- mƒ henb BLm-X-amWv B `oic kwl-s-\ p t\cn-ts n h -Xv. `oichmz {]h Ø-\-߃ p th Bbp-[-ßfpw k ml-ßfpw Hcp- p- -Xn-\p Ah-cpsS ti jn-bmwv Cu hne XI -bn-eqss Ipd- Xv. ico-c-`m-j-bn t]mepw [m jvsyhpw [n m-chpw {]I-Sn- n ap Km-an-I-fn \n v Xo Øpw hyxy-kvx-\m-bn-cp p H_ma. {]tim-]-\-߃ v ASn-s -Sm-Xn-cn- m\pw GXv thzn-bnepw hn\-b-tømss s]cp-amdm\pw ico-c-`m-j-bn Ffna kq n- m \pw H_ma {i n- p. A m-cy-øn Xs ka-im-eo-\cmb ]e temi-t\-xm- -fn temi-k-am-[m-\-øn\v t\m_ kωm\w t\snb bpfkv {]kn-u v a v cmpy-ß-sf _lp-am-\n- p hntz-i-\-b- Øn Dd- p-\n- p. h j-ßfmbn Ata-cn ]n p-s-cp-, temi-saßpw bp w Ib- paxn snøp hn{`m n ]nsn hntzi \bsø Xncp-Øm H_m-a v km[n- p. \n p IqSn At±lw thdn- p-\n- p. kwkmc NmXp-cy-amWv H_m-a F IdpØ h K- m-c\v Ata-cn- {]kn- U v ÿm\-søøm hgn-sbm-cp- nb KpW-hn-ti-j-ß-fn-sem- v. CubnsS A cn ap Iyq_ {]kn-u v ^nu-d Imkvt{Sm ]d- Xp t]mse H m- cam bn kwkm-cn- m-\p Ign-hmWv At±lsØ temi-t\-xm- -fpss Iq -Øn {it -b-\m- n-b-xv. bpfkv {]kn-u v Xnc-s -Sp- n sumtam-{im v ÿm\m n lnemcn n txm -t mƒ ]ecpw ]d- Xv H_masb t]msemcp t\xm-hm-bn-cp p {Sw]n s FXn-cm-fn-sb- n ^ew as m- m-ipam-bn-cp- psh mwv. ]t sutam-{im- n v ]m n v Aß-s\-sbm-cmsf ]Icw sh m C mbncp- p. Nne t\xm- ƒ Aß-s\-bm-Wv. Ah v ]I-c- m-cn-. H_m-asb \msf temiw Hm p- Xv ]Icw sh m-\m-imø t\xr-ssh-in yw ssiap-x-em n At±lw temi-øn\v \ Inb aqey-h-ømb kw`m-h-\-i-fpss t]cnem-bn-cn- pw. sluvpv Hmlcn s^{_p-hcn

20 Market Trends Iº-\n-I-fpsS {]I-S-\-hp-ambn _ s -X mø Imc-W-ß-fm hntzi \nt ] ÿm]-\-߃ hn p Hml-cn-Iƒ hmßp coxn-bmwv B`y- c \nt ] ÿm]-\-߃ ]n p-s-cp- -Xv. hntz-in-iƒ hn ptºmƒ kztz-in-iƒ hmßp p sabv v C C y F Xv \tc{µ tamzn k m-cns Hcp {]Jym-]nX ap{zm-hm-iyam-wv. hntzi hn]-wnsb Aan-X-ambn B{i-bn- p ÿnxn Hgn-hm- p-ibpw C ysb kzbw]cym-]vx-x-bn-te v \bn- p-i-bp-amwv Cu ap{zm-hm-iy-øn-eqss k m e yansp- Xv. Cu e y-tømsv tn p-\n- p-sim- mtwm Hmlcn hn]wn apt m- p-\o-ßp- Xv? hntzi \nt ] ÿm]-\-߃ hmßp- Ibpw hn p-ibpw snøp- -Xns\ B{ibn v \oßp ÿnxn-bmwv C y Hml cn hn]-wn-bn- s]mxp-shbp- -Xv. Cu ÿnxn amdp Xns kqn-\-bmwv I ph-cp- -sx v hn]wn \nco- -I Nq n- m- p- p. hntzi \nt ] ÿm]-\-߃ hmßp Hml-cn-Iƒ p ]n mse t]mip {]h-wxbmbn-cp p s]mxpsh \nt -]- I n-s-bn-ep- m-bn-cp- -Xv. F m ]pxnb kml-n-cy-øn Ah hn p Hml-cn- Iƒ snehv Ipd \ne-bn hmßm-\p Ah-kcw hn\n-tbm-kn- p-i-bmwv sntø -sx v hnz-kv[ ]d-bp- p. \nehn B`y- c \nt ] ÿm]-\-߃ snøp- Xpw AXp-X-s. hntzi \nt ] ÿm]-\-߃ hn p Hml-cn-Iƒ hmßp coxn-bmwv Ah ]n p-s-cp- -Xv. 20 sluvpv Hmlcn s^{_p-hcn 2017 HIvtSm-_ - -Un-kw-_ ss{xam-k-øn 30,000 timsn cq]-bpss A -hn -\-bmwv hntzi \nt ] ÿm]-\-߃ \S-Øn-b- Xv. Cu ka-bøv A -\n-t -]-I-cm-bn-cp p B`y- c \nt ] ÿm]-\-߃. hntzi \nt ] ÿm]-\- ߃ Hml-cn-Iƒ hn p- - Xns Imc-W-߃ km[m-cw \ne-bn hntzi \nt ] ÿm]-\-߃ Hcp Iº-\n-bpsS Hml-cn-Iƒ hn p Xv B Iº-\nsb kw_- n hntzi \nt ] ÿm]-\-ß ƒ hmßp-ibpw hn p-i bpw snøp- -Xns\ B{i-bn v \oßpibmwv C y Hmlcn hn]-wn- s]mxp-sh snøp -Xv. Cu ÿnxn hntijw amdp Xns kqn- \-bmwv I p-h-cp- -sx v hn]wn \nco- -I Nq n- m- p- p. {]Xn-Iqe {]Xn- m-b-bmwv krjvsn- n-cp- - Xv. hfsc hn]p-ehpw i -hpamb KthjWØns bpw hnhn[ _nkn-\kv taje-isfbpw Imem-h-ÿ-I-sfbpw Ipdn p IqSp-X ka{k-amb hnh-c-ß-fp-ssbpw B[n-Im-cn-I-amb hni-i-e-\-ß-fp-ssbpw ASn-ÿm-\-Øn hntzi \nt ] ÿm]- \-߃ kzoi-cn- p \nt ] Xocp-am\w F \ne-bn-emwv AØcw hn -\-Isf hn]wn s]mxpsh I n-cp- -Xv. AXp-sIm- p-xs hntzi \nt ] ÿm]-\-߃ hn p Hml-cn-ItfmSv ]pdw-xn-cn p \n p- -Xm-bn-cp p hn]-wn-bnse {]h- W-X. hntzi \nt ] ÿm]-\-߃ Hmlcn-Iƒ hn p-tºmƒ AXn-t\mSv tn v hns m-gn-bp coxn-bmwv sndp-ins \nt - ]-I p-ap- m-bn-cp- -Xv. F m hntzi \nt ] ÿm]-\- ߃ Xß-fpsS ssih-i-ap Hml-cn-I-fn \n v sndn-sbmcp ix-am\w hn -gn- p- - Xn\v a v Imc-W-ß-fp-ap- v. t]m vt^mfntbm do_m-e kv snøp- -Xn\pw XßfpsS D]-t`m- m- ƒ v \nt ]w XncnsI \ Ip- -Xn\pw a v hn]-wn-i-fn \nt - ]n- p- -Xn-\p-sam-s -bmimw hntzi \nt ] ÿm]-\-߃ hn -\ \S-Øp- Xv. Ign h jw "Fa PnwKv am vkv' F -dn-b-s -Sp an hn]-wn-i-fn

21 \n pw hntzi \nt ] ÿm]-\-߃ hn \ \S-Øn-bn-cp- p. A q- -Øn C ybpw Dƒs -Sp- p. HIvtSm-_ - -Un-kw-_ ss{xam-k-øn hntzi \nt ] ÿm]-\-߃ Hml-cn-Iƒ hn -gn- -Xn\v a v Imc-W-ß-fp-ap- m-bn-cp- p. bp Fkv {]kn-u v Xnc-s -Sp- p-ambn _ -s A\n- n-x-xzhpw bpfkv s^u-d dnk hv ]en-i-\n-c v Db Øm- \p km[y-x-bp-sa mw hn -\bv v Imc- W-am-bn. bpfkv tumf-dns aqeyw h [n- -txmss hntzi \nt ] ÿm]-\-ß-fpss t]m v t^m-fn-tbm-bpss em`w Ipd-bm Imc-W-am-bXpw hn -\bv v t{]cn- n LS-I-am-Wv. BtKmf kml-n-cy-hp-ambn _ -s Cu LS-I-ß-fpsS ASn-ÿm-\- Øn Ah \nt ]w ]n h-en- -t mƒ hn -gn- -s ]e Hml-cn-I-fpsSbpw ASnÿm-\-ß-fn Imcy-amb Fs - nepw {]Xn-Iqe ÿnxn D m-bn-cp- n-. Iº- \n-i-fpss {]I-S-\-Øn \n pw hyxy-kvxamb Imc-W-ßfm-bn-cp p Gsd psd hn -\bv v ]n n. Cßs\-bp- mb hn \ hmßp- - Xn\p Ah-k-c-ambn D]-tbmKs Sp-Øp- I-bmWv B`y- c \nt ] ÿm]-\-߃ snbvx-xv. HIvtSm-_ - -Un-kw-_ ss{xamk-øn hntzi \nt ] ÿm]-\-߃ i amb hn \ \S-Øn-b-t mƒ B`y- c \nt ] ÿm]-\-߃ A -\n-t -]-Øn-eqsS hn]- Wn v ]n pw \ In-bXv kqnn-i-ifnsebpw Hml-cnt]m vt^m-fntbm do_m-e kv snøp- -Xn\pw Xß-fpsS D]-t`m- m- ƒ v \nt ]w XncnsI \ Ip- -Xn\pw a v hn]-wn-i-fn \nt -]n- p- - Xn-\p-sam-s -bmimw hntzi \nt ] ÿm]-\-߃ hn -\ \S-Øp- Xv. CØcw hn \ sndp-ins \nt - ]-I p Ah-k-c-am-Wv. Ifnsebpw CSnhv Hcp ]cn-[n-bv - pdw t]mim-xn-cn- p -Xn\v klm-bi-am-bn. CØ-c-Øn B`y- c \nt ] ÿm]- \-߃ hn]-wn v ]n pw \ Ip {]h-wx 2017epw XpS-cm km[y-x-bp-s - mwv hnz-kv[ Nq n-im- p- -Xv P\p-hcnbn hntzi \nt ] ÿm]-\-߃ 1901 timsn cq]-bpss A - hn \ \S-Øn-b-t mƒ B`y- c \nt ] ÿm]-\-߃ 4503 timsn cq]-bpss A - \n-t -]-amwv \S-Øn-b-Xv. P\p-hcn H n\v tijw Hmlcn kqnni 8.75 ix-am\w Dbcp-Ibpw snbvxp. hntzi \nt ] ÿm]-\-߃ hn \ \S-Øp-Ibpw hn]wn Xncp-Ø t\cn- Sp-Ibpw snøp Ah-k-c-ß-fn \nt ]w \S-Øm sndp-ins \nt -]-I apt m- p-h-cp- -XmWv kao] Ime {]h-w-x. hntz i \nt ] ÿm]-\-߃ hn \ \S- Øp-tºmgmWv Zo LIme \nt -]-I v hmßp- -Xn\p G hpw ani ka-bsa v h j-ß-fmbp hn]wnbnse Ib- n-d- -ß-fn sxfn-bn- -s - n- p- -Xm-sW v hnz-kv[ Nq n- m- p- p. Zo L-Ime \nt -]w XpS-cp Xns `mk-ambn {]Xn-amk \nt ] ] -Xn-Iƒ t]mep am K-ß-fn-eqsS sndpins \nt -]-I ayqnz ^ p-i-fpss CIzn n kvioap-i-fn KWy-amb \nt ]w \S- Øp -XmWv kao-]-ime {]h-w-x. Hmlcn hn]wn ISpØ kω Zw t\cn-sp-ibpw i -amb Xncn-Ø-ep-Iƒ {]h-nn- -s -Sp- Ibpw snbvx-t mgpw ]n am-dmsx sndp- InS \nt -]-I CIzn n ^ p-i-fn \nt ]w XpScpI-bmWv snbvx-xv. hniknx cmpy-ß-fnse \nt -]-I-cn \n pw hyxy-kvx-ambn C y- m-cpss \nt -]-Øn Hml-cn-Iƒ v hfsc sndn b {]mxn\n[yw am{x-amwv D -sx mwv IW- p-iƒ hy -am- p- Xv. F m C\n-bp Imew C y- m-cpss \nt ] coxn-bn ImX-emb am w D m-im km[y-x-bp-s pw Hml-cn-I-fnse \nt ] A\p-]mXw h [n-t - p-sa pw hnz-kv[ Nq n- m- p- p. C pdn _pƒ am v ]pxnb simsnap-sn-iƒ Ibdn sdt m-un-s - nepw t{_m nmv A u- p-iƒ Xpd v t\cn v Hml cn CS-]m-Sp-Iƒ \S-Øp ]pxnb \nt - ]-I-cpsS X n- -b- -ap- m-bn- n-. AtX kabw Hmlcn hn]-wn-bn-te- p ]pxn b \nt ]w {][m-\-ambpw ayqnz ^ v t]mep imkv{xob am K-߃ hgn-bmsw- -XmWv {it -bw. t\cn v Hmlcn CS- ]m-sp-iƒ \S-Øp- -Xn\p ]Icw hnz-kv[- cmb ^ v amt\-p am-cpss \nt ]w ssi Imcyw snøp- -Xn-ep ssh`hw D]tbm- K-s -SpØp - coxn-bn sndp-ins \nt - ]-I ]IzX B Pn- n-cn- p- p. hn]wn CSn-bp-tºmƒ \jvsw kln pw hn p-am-dp- -Xm-bn-cp p ap Im-eß-fnse sndp-ins \nt ]IcpsS coxn. Cu {]h-w-xbn ImX-emb am -am-wp- m-b-xv. knã-am- niv C sh- Ãvsa v πm (F-kv-sF-]n) t]mep am K-ß-fn-eqsSbp \nt ]w XpScp Xpw AXv h [n- p-h-cp- -Xp-amWv Ct mƒ I p-h-cp- -Xv. hntzi \nt ] ÿm]-\-ß-fpss \ne-]m-sp-isf Aan-X-ambn B{i-bn v apt m- p-\oßp ÿnxn- amdm sndp-ins \nt -]-I-cp-sSbpw B`y- c \nt ] ÿm]-\- ß-fp-sSbpw h [n-x-amb \nt ]w klm-b-i-am-ipw. CXv Zo L-Im-em-Sn-ÿm-\- Øn hn]-wn v KpW- I-c-am-Wv. sluvpv Hmlcn s^{_p-hcn

22 Q&A tnmzy߃ v adp]sn Hmlcn \nt ]w kw_- n hmb-\- m-cpss kwi-b-߃ v sluvpv CIzn- okv No^v FIvkn-Iyp- ohv Hm^o-k F.-`p-h-t\-{µ adp-]sn \ Ip p tnmzy-߃ Ab-t C -sa-bn hnemkw: editor@hedgeequities.com tnm: bqwn-ssiv, ]q v tembvuv F o Hml-cn-I-fn Rm t\csø \nt ]w \S-Øn-bn- p- v. bqwn-ssiv 68 cq] pw ]q v tembvuv 95 cq] pamwv hmßnbncp- Xv. Cu Hml-cn-Iƒ Ct mƒ ho pw hmßn \nt ] snehv Ipd- p- Xv icnbmb \o -am-ip-tam? DÆn, tim - D: ]en-i-\n-c v Ipd- p-h-cp- Xv dnb - F-tÃ- v, C {^m-kv{s-ivn taj-e-sb kw_- n v KpW-I-c-am-Wv. ]t Zo L-Im-eambn dnb -F-tÃ- v Iº-\n-bmb bqwnss pw C {^m-kv{s-ivn Iº-\n-bmb ]q v tembvupw {]Xn-Iqe ]cn-x-ÿn-xn-bneq-ss-bmwv IS- p-t]m-ip- -Xv. ISpØ IS- _m-[y-x-bp Cu Iº-\n-I-fpsS Hml-cn- I-fn ASpØ ImesØm pw Hcp Ic-Ib- -Øn\v km[yx ImWp- n-. AXn-\m Cu Hml-cn-Iƒ hn v IS-_m-[yX Ipd Iº-\n-IfpsS Hm-l-cn-Iƒ hmßp- -XmIpw DNn-Xw. tnm:em tim C {^m-ssiv, CeIvt{SmÃo Ão kv, kn n ti_vƒ, C ym-_pƒkv sht zgvkv F n-h-bmwv Rm ssihiw sh p Hml-cn-Iƒ. Cu HmlcnIƒ XpS pw ssihiw sh m A\p-tbm- Py-amtWm? kvanx, Fd-Wm-Ipfw D: C ym-_pƒkv sht zgvkpw kn n ti_vfpw hn p-am-dp-i. tnm: timƒ C y, ]h {KnUv, ssivkvamtim, AtimIv sebvem v, Sm m Ão F o Hml-cn-Iƒ {lkz-ime \nt -]-Øn-\mbn Rm ]cn-k-wn- p- p. Xm -fpss hne-tbdnb am K-\n tz-i-߃ {]Xo- n- p- p. _ntpm-bn, Nn q D: Cu Hml-cn-Iƒ {lkz-ime \nt -]- Øn-\mbn ]cn-k-wn- m-hp- -Xm-Wv. tnm: dne-b kv Im n-, dne-b kv Iayq- Wn-t -j kv, dne-b kv C {^, dneb kv s]t{sm-fn-bw, FwB ]n-f, C y _m v, kuøv C y _m v, sk {S _m v, \mkm Pp\ s^ n-ssetk-gvkv, ]h {Kn-Uv, Sm m Ão, AtimIv sebvem v, spfkvuªyp F\ Pn F nh-bmwv Fs ssih-i-ap Hml-cn-Iƒ. Cu Hml-cnIsf Ipdn- p Xm -fpss \n tzi߃ {]Xo- n- p- p. at\m-pv,-zp-_mbv 22 sluvpv Hmlcn s^{_p-hcn 2017 D: C y _m v, sk {S _m v F o Hml-cn-Iƒ hn p-amdn Fkv_nsF As - n BIvknkv _m v t]m vt^m-fn-tbmbn Dƒs -Sp-Øm-hp- -Xm-Wv. a v Hml-cn- Iƒ ssihiw sh p-i. tnm: sfkn-sf-knsf _m v (hm-ßnb hne 217 cq]), alo{µ & alo{µ (hm-ßnb hne 910 cq]), apøq v ^n\m kv (hmßnb hne 154 cq]) F o Hml-cn-Iƒ Fs t]m vt^m-fn-tbm-bn-ep- v. Ch XpS pw ssihiw sh mtam? PnØp Zmtam-Z-c, Xncp-h D: Cu Hml-cn-Iƒ ssihiw sh p-i. Ct m-gsø hnebv v IqSp-X Hml-cn-Iƒ hmßm-hp- -Xm-Wv. tnm: A v- -]Øv h jw Ime-b-f-hp Zo L-Ime \nt -]-I-\mWv Rm. sfun- -F-^vkn _m v, F &Sn, kuøv C y _m v, s^u-d _m v, `mcxn Fb ss, FkvtIm Svkv, kn n-t v _m v, FIvsskUv C -kv{so-kv, F &Sn ^n\m kv F n-h-bmwv Rm ssihiw sh p Hml-cn-Iƒ. HF Pn-kn, Fkv_n-sF, Sm m Ão, ln Um tim, skbn, sss m, h em F o Hmlcn-Iƒ IqSn hmßm Xm -cy-s -Sp- p. Ch hmtß hne \ne-hmcw \n tz-in- mtam? \ne-hn-ep t]m vt^m-fn-tbmbn Fs - nepw am w hcp-tø- -Xpt m? atl-jv, Xncq D: HF Pn-kn 180 cq]bv pw Fkv_n-sF 240 cq]bv pw Sm m Ão 380 cq]bv pw ln Um tim 130 cq]bv pw sss m 320 cq]bv pw h em 300 cq]bv pw hmßmhp- -Xm-Wv. skbnens hcp-am\ e`yx kw_- n v hy X ssih-tc- -Xp v F -Xn-\m ImØn-cn- p-i. a v Hml-cn-Iƒ ssihiw sh p-i. tnm: F\n v Hmlcn \nt ]w XpS-ßm Xm -cy-ap- v. Hcp XpS- - m-c\mb-xn- \m Ct mƒ 10,000 cq] am{x-amwv Rm \nt -]n- m Dt±-in- p- -Xv. Ct mƒ Fkv_n-sF-bpsS Hml-cn-Iƒ hmßm A\p-tbm-Py-amb ka-b-amtwm? am[-h, Ipafn D: Zo L-Ime \nt -]-Øn\v A\p-tbm- Py-amb Fkv_n-sF-bpsS Hmlcn Ct mƒ hmßm-hp- -Xm-Wv. tnm: mivtkm-kvan-xv n ^m a, ssa v {So, Snhn-Fkv tamt m-gvkv, tz\m _m v, t^m nkv sl ØvsI-b F o Hml-cn- Iƒ Rm ssihiw sh p- p. Cu Hmlcn-Isf Ipdn- p Xm -fpss A`n-{]m-b-߃ Adn-bm Xm -cy-ap- v. Ptb-jv, \ote-izcw D: tz\m _m v, t^m nkv sl ØvsIb, ssa v {So F o Hml-cn-Iƒ hne Db-cp-tºmƒ hn p-am-dp-i. ]Icw Fkv_nsF, C t^m-kn-kv, F _n-kn-kn, k ^m a, CIzn- mkv tlmƒunw-kvkv, UnF- - v- F-^v-F F o Hml-cn-Iƒ ]cn-k-wn- mhp- -Xm-Wv. tnm: Rm Hcp tu t{su-dm-wv. Ign Hcp h j-ambn em`hpw \jvshpw Hcp t]mse t\cn-ts- n-h- n- p- v. 100 cq]-bn Xmsg hne-bp Db thmfy-øn hym]mcw snøp Hml-cn-Iƒ \n tz-in- mtam? kppnxv, Imbw-Ipfw D: sfun-f-^vkn, sfun-f^vkn _m v, F &Sn ^n\m kv, s^u-d _m v, A timiv sebvem v, F -F- v]n-kn, UnF - F-^v, Sm m ]h. ISpØ IS-_m-[y-X-bp bqwn-ssiv, ]q v tembvuv F o Iº-\n-I-fpsS Hml-cn-I-fn ASpØ ImesØm pw Hcp Ic-Ib- -Øn\v km[yx ImWp- n-. C y _m v, sk {S _m v F o Hml-cn-Iƒ hn p-amdn Fkv_nsF As - n BIvknkv _m v t]m vt^m-fn-tbm-bn Dƒs -Sp-Øm-hp- -Xm-Wv.

23 sluvpv Hmlcn s^{_p-hcn

24 Mutual Fund CXphsc ayqnz ^ pi-fpss F F^v-Hbv v e`n Xn G hpw ani {]Xn-I-c-WamWv kn]n-fkvc CSn-F-^n\p m-b-xv. \nt -]-I-cn \n pw 12,000 timsn cq]-bpss At]- - IfmWv e`n- Xv. kn]n-f-kvc CSn-F^n\v ani {]Xn-I-cWw ti{µ s]mxpta-jem ÿm]-\-ß-fpss Hml-cn-Iƒ Dƒs kqnn-isb ASn-ÿm- \-am n Hcp ]pxnb FIvkvtN v t{suuv ^ v (C-Sn-F-^v) hn]-wn-bn-se-øn. kn]n- F-kvC (sk {S ]ªnIv skivs F ss{]-kkv) CSn-F^v BWv P\p-hcn 17\v Bcw-`n v 20\v Ah-km-\n \yq ^ v Hm ^ (F -F-^vH) hgn hn]-wn-bn-se-ønb-xv. ^ v FIvkvtN- n enãv snbvx- Xn\p tijw {]my-ani hn]wn hgnbpw \nt ]w \S-Ømw. CXphsc Hcp ayqnz ^ ns F ^v-hbv v e`n G hpw ani {]Xn-I-c- W-amWv kn]n-fkvc CSn-F-^n\p mb-xv timsn cq]-bmwv CSn-F-^n-eqsS kaml-cn- m Dt±-in- -sx- nepw 12,000 timsn cq]-bpss At]- -Iƒ e`n- p. dne-b kv ayqnz ^ v amt\pv snøp c m-asø kn]n-f-kvc CSn-F^v BWv CXv am n-emwv BZysØ kn]n-f-kvc CSn-F^v hn]-wn-bn-se-ønb-xv. tkmƒuvam kmnvkv Ak v amt\- Pvsa v Iº-\n-bmWv Cu kviow amt\pv snbvxncp- -Xv. ]n osv Iº\n ayqnz ^ v _nkn-\kv hn -t mƒ AXv dne-b kv Ak v amt\-pvsa v Iº-\n-bpsS ssi hiw h p. s]mxp-ta-jem Iº-\n-I-fpsS sshhn- [y-h Ir-X-amb t]m vt^m-fn-tbm-bn \nt ]w \S-Øm\pw Cu Iº-\n-Iƒ ssi h-cn- p Zo L-Ime hf -bn \n pw t\ -ap- m- m-\pap Ah-k-c-amWv kn]n- F-kvC CSn-F^v \ Ip- -Xv. kn]n-f-kvc kqnn-i-bpss {]I-S-\-sØbm-bn-cn pw kn 24 sluvpv Hmlcn s^{_p-hcn 2017 ]n-f-kvc CSn-F^v {]Xn-^-en- n- p- -Xv. HF Pn-kn, skbn, timƒ C y, C y Hmbn, Hmbn C y, ]h ^n\m kv tim -td-j, dqd Ce-Iv{Sn-^n-t -j tim -td-j, I ss-bv\ tim -td-j, F Pn-\o-tbgvkv C y, `mcxv Ce-Ivt{Sm- WnIvkv F o ]Øv h InS s]mxp-ta-j em Iº-\n-I-fmWv kn]n-f-kvc kqnn-i-bn Dƒs - n-cn- p- Xv am n-em-bn-cp p BZysØ kn]n- F-kvC CSn-F^ns F -F-^vH (\yq ^ v Hm^ ). ]n osv \yq ^ v Hm^ thfbn \nt -]n- -hcn Hcp h jw bqwn- p-iƒ ssihiw sh h v temb n bqwn- p-iƒ A\p-h-Zn- ncp p. 15 bqwn- p- Iƒ v Hcp bqwn v F \nebn- A sø F -F-hn-bpsS ASn-ÿm-\-ØnemWv t_mwkv bqwn- p-iƒ e`n -Xv. CXpt]mse ]pxnb kn]n-f-kvc CSn-F^n kn]n-f-kvc CSn-F^ns\ Hcp ssuth-gvkn-ss^uv ^ mbn ]cn-k-wn- m-\m-hns pw Nne taj-e-i-fn am{x-ambn \nt ]w \S-Øp skivs ^ p-i-fpss KW-Øn CXns\ Dƒs -Sp- Øp- -XmWv icn-sb pw hnz- Kv[ A`n-{]m-b-s Sp p. F -F-^v-H-bn-eqsS \nt -]n- -h v t_m W-kv A\p-h-Zn- p-sa- mwv {]Xo- n- p- -Xv. s]mxp-hn-]-wn-tb- mƒ snehv Ipd \ne-bnepw Db Unhn-U v bo tum-ss-bp-amwv s]mxp-ta-jem Hml-cn-Iƒ \ne-hn hym]mcw snøp- -Xv. \ne-hn kn]n-f-kvc kqnn-i-bnse Iº-\n-I-fpsS Hml-cn hnebpw Ah-bpsS {]Xn Hmlcn hcp-am-\hpw XΩn-ep A\p-]mXw BWv. Unhn-U v bo Uv 4.07 ix-am-\w. AtX kabw \n^v n-bnse Iº-\n-I-fpsS Hml-cn hnebpw Ah-bpsS {]Xn Hmlcn hcp-am-\hpw XΩn-ep A\p-]mXw BWv. Unhn-U v bo Uv 1.28 ix-am-\w. ]Øv s]mxp-ta-jem Hml-cn-I-fn HF Pn-kn, timƒ C y, C y Hmbn F o aq v Hml-cn-I-ƒ mwvv t]m vt^mfn-tbm-bn 63 ix-am-\w shbn-t -Pp-ap- - Xv. F\ Pn, sa, ^n\m jy k hokkv F o aq v taj-e-iƒ mwv 90 ixam\w shbn-t -Pp- -Xv. AXn-\m Cu aq v taj-e-i-fpss {]I-S-Øn\v A\p-k-cn- m-bn-cn pw Cu ^ n-s bpw {]I-S-\w. ayqnz ^ p-iƒ p kam-\-amb coxnbn-emwv kn]n-f-kvc CSn-F^v Bhn-jvIcn- -s - n-cn- p- -sx- nepw FIvkvtN- n enãv snø-s - n-cn- p Hml-cn-I-fpsS hneifnse hyxn-bm\w bym-kabßfn ^ ns F -F-hn-bn {]Xn-^-en- pi bmwv snøp- -Xv. BZysØ kn]n-f-kvc CSn-F^v ani t\ amwv \nt -]-I v \ In-b-Xv. ^ v XpS-ßn-b-Xn\p tijw \ In-bn- p

25 {]Xn-h j t\ w ix-am-\-am-wv. AtX kabw kam\ Ime-b-f-hn \n^v n \ In-bn- p- Xv 7.5 ix-am\w t\ -am-wv. Ign Hcp h j-øn-\nss ^ v ixam\w t\ w \ In-b-t mƒ \n^v n \ InbXv ix-am\w t\ am-wv. BZysØ kn]n-f-kvc CSn-F^v Bcw- `n v 90 Znh-k-Øn-\p- n Xs sndp- InS \nt -]-I v e`n- Xv 55.8 ix-am\w t\ -am-wv. s]mxp-ta-jem Hml-cn-Iƒ A\m- I j-i-ambncp hf-bn-emwv kn]n-f-kvc CSn-F^v hn]-wn-bn-se-øn-b-sx- nepw CXv enãv snbvx-xn\p tijw s]mxp-ta-jem Hml-cn-Iƒ ani apt w \S-Øp- -XmWv I -Xv. ]t ^ v ]pd-øn-d-ßnb khntij kml-ncyw IqSn ]cn-k-wn-t - -Xp- v. {IqUv Hmbn hne IpØs\ CSn- Xpw C \ hne-bnse \nb-{ -W-߃ tamzn k m-cns t\xr-xz- Øn Iogn s]mxp-ta-jem Iº\nIƒ sa -s {]I-S \w ImgvN sh p-sa {]Xo kn]n-f-kvc CSn-F^n \v BI j-wo-bx \ Ip LS-I-am-Wv. \o n-b-xpw Hmbn Iº-\n-I-ƒ v KpW- I-c-am-b-XmWv Imc-Ww. AtX kabw {Iq Uv Hmbn hne Db-cp kml-n-cy-ønemwv ]pxnb CSn-F^v FØp- -Xv. \tc{µ tamzn k m-cns t\xr-xz- Øn Iogn s]mxp-ta-jem Iº\nIƒ sa -s {]I-S\w ImgvN sh p-sa {]Xo Cu ^ n\v BI j-wo-bx \ Ip LS-I-am-Wv. Cu {]Xo sx p- I-bm-sW- n hn]-cox ^ew \nt -]-I t\cn-ts n hcpw. ItΩm-Un n hne-i-fpss Ib- n-d- -ßsf B{i-bn- m-bn-cn pw Cu ^ ns {]I-S-\w. \ne-hn ItΩm-Un n hne Db-cp {]h-w-x-bm-wp- -Xv. 50 Hmlcn \nt -]-I-cpsS hnp-b-iy ]d-bp Cu ]pkvxiw DS Xs kz am- q... kn]n-f-kvc CSn-F^ns\ Hcp ssuthgvkn-ss^uv ^ mbn ]cn-k-wn- m-\m-hns pw GsX- nepw Hcp taj-e-bn \nt ]w \S-Øp skivs ^ p-i-fpss KW-Øn CXns\ Dƒs -Sp-Øp- -XmIpw icn-sb pw hnz-kv[ Nq n- m- p- p. AXn- \m Hcp ssuth-gvkn-ss^uv ^ n \nt -]n- p- -Xn-t\- mƒ kn]n-f-kvc C Sn-F^n \nt -]n- p- -Xn dnkviv IqSp- X-em-sW pw Ah A`n-{]m-b-s -Sp- p. t]m vt^m-fn-tbm-bpss 10 ix-am-\- Øn IqSp-X CØ-cw ^ p-i-fn \nt -]n- p- Xv A`n-Im-ay-a-s mwv hnz- Kv[-a-Xw. ^vfn]vim v kmc-yn-i-fmb k n _ km-epw _n n _ km-epw Call: editor@hedgeequities.com sluvpv Hmlcn s^{_p-hcn

26 Mutual Fund tpmbn v A u- n-eqss \nt -]n- p-tºmƒ {i n-t Imcy-߃ ayqnz ^ p-i-fn tpmbn v A u- p-i-fn-eqss \nt ]w \S-Øp- Xpw ]n h-en- p- Xpw kpk-a-am- m Nne Imcy-߃ {i n-t - -Xp- v. ayqnz ^ p-i-fn tpmbn v A u- mbn H n-tesd t] v \nt -]n- m- \p Ah-k-c-ap- v. tpmbn v A u- n \nt -]n- p- -Xn\v Nne \n_- -\-Iƒ _m[-i-am-wv. c p t] t m ]c-am-h[n aq v t] t m BWv tpmbn v A u v DS-a-I-fm- Im km[n- p-i. F m tpmbn v A u v DS-a-Ifpw si ssh kn (t\m bph I Ã-a ) \n_- -\-Iƒ ]men- n-cn- -Ww. si ssh kn \n_- -\-Iƒ A\p-k-cn p hnh-c-ßfpw Bh-iy-amb tcj-ifpw ka n- n- n- m-ø-hsc tpmbn v A u n Dƒs -Sp-Øm-\m-In-. `mcybpw ` Ømhpw kwbp- -ambn hm bv]-sb-sp- p-ibpw H n v _m v \nt ]w \S-Øp- -Xp-sams Ct mƒ km[m-c-w-am- Wv. CXp-t]mse ayqnz ^ p-i-fnepw kw bp- -ambn \nt -]n- mhp- -Xm-Wv. F m ayqnz ^ p-i-fn tpmbn v A u- p-i-fn-eqss \nt -]n- p-tºmƒ \nt ]w \S-Øp- Xpw ]n h-en- p- Xpw kpka-am- m Nne Imcy-߃ {i n-t - -Xp- v. C mcyw a\-kn-em n thww tpmbn 26 sluvpv Hmlcn s^{_p-hcn 2017 v A u- nse GXv Hm]vj Xnc-s - Sp- -W-sa v Xocp-am-\n-t - -Xv. tpmbn v A u v c v Xc-ap- v. tpmbn v F Hm]vj-\mWv Xnc-s -Sp- p- -sx- n F m tpmbn v A u v DS-a-Iƒ pw Xpey-amb Ah-Im-i-amWv D m-bn-cn- p-i. Cu Hm]vj- Xnc-s - Sp-Øm ayqnz ^ v bqwn- p-iƒ hm ßm\pw hn m\pw F m tpmbn v A u v DS-a-IfpsSbpw H v Bh-iy-ambn hcpw. "FbvX Hm k ssh-h ' F Hm]vj- \mwv c m-a-tø-xv. Cu Hm]vj\p Iogn tpmbn v A u v DS-a-I-fn GsXmcmƒ pw kz w \ne-bn bqwn- p-iƒ hm ßm\pw hn m\pw Ah-kc-ap- m-ipw. C Xn\v CXc A u v DS-a-bp-sStbm DS-a- I-fp-sStbm H v Bh-iy-an-. bqwn- p-iƒ hmßpibpw hn pibpw snøp thf-i-fn GsX- nepw HcmfpsS Akm- n-[y-ap-s - n CS-]mSn XSkw hcmxn-xn-cn- m FbvX Hm k ssh-h Hm]vj Xnc-s -Sp- p- -XmIpw \ - Xv. IS-emkv tpmen-iƒ Hgn-hm- m\pw bqwn- p-iƒ hmßpibpw hn pibpw snøp thf-i-fn A u v DS-a-Ifn GsX- nepw HcmfpsS Akm- n-[yw aqew CS-]mSv \S-Øp- -Xn XSkw hcm Xn-cn- m "FbvX Hm k ssh-h ' Hm]vj Xncs -Sp- p- -XmIpw \ -Xv. Bh-iy-ap ka-bøv \nt -]-I-cn Hcmƒ v XSkw IqSmsX CS-]m-Sp-Iƒ \S- Øm\pw Cu Hm]vj\p Iogn km[n- pw. AtX kabw \nt ] ] mfn kz w \ne-bn Xocp-am-\-ß-sf-Sp- p- Xv Hgn-hm- -W-sa v CXc \nt -]-It\m \nt - ]-Itcm B{K-ln- p- p-sh- n tpmbn v Hm]vj Xnc-s -Sp- p- -XmIpw DNn-Xw. tpmbn v A u- p-i-fnse \nt -]- I-cn BZy-sØ-bmƒ (^Ãv tlmƒu ) p am{xta \nipxn B\p-Iq-ey-߃ e`n- p-i-bp- q. CIzn n en vuv tkhnwkvkv kvioap-i-fnepw a pw tpmbn v A u- p- I-fn-eqsS \nt -]n- p-tºmƒ 80 kn {]Imcw \nipxn B\p-Iqeyw e`n- p- Xv ^Ãv tlmƒu p am{x-am-bn-cn- pw. AXn-\m \nipxn B\p- Iqeyw e`n- p- -Xn-\mbn \nt ]w \S-Øp-tºmƒ F m \n-t - ]-I pw \nipxn B\p-Iqeyw Bh-iy-am-sW- n tpmbn v A u v Hgn-hm n {]txyi A u- p-i-fn-eqss \nt ]w \S- Øp- -XmIpw DNn-Xw. tpmbn v A u v DSatbm DS-a-Itfm acn- p-i-bm-sw- n Pohn- n-cn- p A u v DS-abpsS t]cn-emipw apgp-h \n t -]-hpw.

27 2016 ayqnz ^ p-i-fpss BkvXn-bn 3.52 e w timsn cq]-bpss h [-\-bm-wp- m-b-xv. C{Xbpw h [\ 2017epw D m-ip-i-bm-sw- n BkvXn 20 e w timsn cq] Ihn-bpw. 20 e w timsnbnte v C\n-bn A[nI Zqcw A\pIqe LS-I-ß-fpsS ]n p-w-tbmss ani hf ssih-cn- p-h-cp C ybnse ayqnz ^ v hyh-kmbw ssi Imcyw snøp BkvXn Xma-kn-bmsX 20 e w timsn cq]-bn-se-øn-tb- psa v hnz-kv[ Nq n-im- p- p. ]en-i-\n-c v IpØs\ Ipd-bp- Xpw t\m v ac-hn- n- \S-]-Snsb XpS v kpxmcy \nt ] am K-߃ IqSp-X BI j-i-am-bxpw ayqnz ^ v taj-e-bn-te v IqSp-X \nt -]-sa-øm hgn-sbm-cp- p-sa- mwv {]Xo HIvtSm-_ - -Un-kw-_ ss{xam-k- Øn ayqnz ^ v Iº-\n-Iƒ ssi Imcyw snøp BkvXn e w timsn cq]-bm-bmwv h [n- -Xv. CXv Pqsse- -sk-]v w-_ ss{xam-k-øn e w timsn cq]-bm-bn-cp- p. HIvtSm-_ - -Un-kw- _ ss{xam-k-øn 82,610 timsn cq]-bpss hf -bmwv ayqnz ^ p-ifpss BkvXn bnep- m-b-xv. t\m v ac-hn- n- \S-]-Snsb XpS v cmpysø _m nwkv kwhn-[m-\-øn-te v KWy-amb txmxn-emwv \nt -]-sa-øn-b- Xv. CXn \s mcp ix-am\w ayqnz ^ p-i-fpss su v kvioap-i-fnte v FØp-sa- mwv {]Xo- n- p- -Xv. _m p- Iƒ ssih-i-ap an aqe-[\w \nt - ]n- p am K-ß-fn-sem- mwv eniznuv ^ p-iƒ t]mep su v kvioap-iƒ. _m p-i-fpss su v ^ p-i-fnse \nt ]w KWy-ambn h [n- p-ibpw ]en-i-\n-c nse CSn-hns\ XpS v sndp-ins \nt -]-I-cpsS ] m-fnøw IqSp-X kpoh-am-ip-ibpw snøp- -txmss ayqnz ^ v hyh-kmbw ssiimcyw snøp BkvXn A[nIw Xma-kn-bmsX 20 e w timsn cq]-bn-se-øn-tb- psa mwv {]Xo-. _m v ^nivkuv sut m-kn- p-i-fp-ssbpw sndp-ins kºmzy ] -Xn-I-fp-sSbpw ]eni \nc v Xmgv Xv Ht sd \nt -]-Isc Db t\ km[y-x-bp CIzn n ^ v t]mep \nt ] am K-ß-fn-te v Xncn-bm t{]cn- n- n- p- v ayqnz ^ p-i-fpss BkvXnbn 3.52 e w timsn cq]-bpss h [-\- bm-wp- m-b-xv. C{Xbpw timsn cq]-bpss h [\ 2017epw D m-ip-i-bm-sw- n BkvXn 20 e w timsn cq] Ihn-bpw e w timsn cq]-bm-bncp p BkvXn. CXv e w timsn cq]-bmbn Db -t mƒ hf 26 ix-am- HIvtSm-_ - -Un-kw-_ ss{x am-k-øn ayqnz ^ v Iº-\n-IfpsS BkvXn e w timsn cq]-bm-bmwv h [n- -Xv. Pqsse- -sk-]v w- _ ss{xam-k-øn B kvxn e w timsn cq]- bm-bn-cp- p. aq v amk-øn- \Iw 82,610 timsn cq]-bmwv BkvXnbnep- m-b- hf. \w. XpS -bmbn \mem-asø h j-amwv ayqnz ^ p-i-fpss BkvXn-bn hf bp- m-ip- -Xv. Hmtcm amkw ]n n-sp-tºmgpw BkvXn Db-cp- -XmWv kao-]-ime {]h- W-X. BkvXn-bn sfkn-sfknsf ayqnz ^ v H mw ÿm\øv XpS-cp- p e w timsn cq]-bmwv sfkn-sfknsf ayqnz ^ ns HIvtSm-_ - -Un-kw-_ ss{xam-k-ønse BkvXn. c mw ÿm\ Øv F vun-f^vkn ayqnz ^ v Xs e w timsn cq]-bmwv BkvXn. aq mw ÿm\øv \n p dne-b kv ayqnz ^ ns BkvXn 1.96 e w timsn cq]-bm-wv. _n f k sse^v ayqnz ^ pw Fkv_nsF ayqnz ^ p-amwv BkvXn-bn \mepw A pw ÿm\-øv. bym-{iaw 1.81 e w timsnbpw 1.41 e w timsn-bp-amwv Cu ^ v lukp-i-fpss BkvXn. HIvtSm-_ - -Un-kw-_ ss{xam-k-øn BkvXn-bn G hpw Db hf ssih-cn- Xv dne-b kv ayqnz ^ m-wv. 12,717 timsn cq]-bpss BkvXn h [-\- bmwv dne-b kv ayqnz ^ n\p- m-b- Xv. BkvXn h [-\-bn c mw ÿm\øv sfkn-sfknsf ayqnz ^ mwv. h [\ 12,003 timsn cq]. ix-am\ IW- n Db hf ssi h-cn- Xv Fkv_nsF ayqnz ^ m-wv. 41 ix-am-\-amwv hf. CXnepw c mw ÿm \Øp \n p sfkn-sf-knsf ayqnz ^ ns hf 32 ix-am-\-am-wv. sluvpv Hmlcn s^{_p-hcn

28 Company Report ]nf _n: sne-hv Ipd Hmlcn, {]I-S\w sa -s -Sm km[yx t\m v Akm-[p-hm- \S-]-Sn p tijw 50,000 timsn-bn-tesd cq]-bpss \nt -]-amwv ]nf _n-bn- - FØn-b-Xv. CXv _m ns \nt ] snehv KWy-ambn Ipd- p. IrjvW Xºn si. C y-bnse BZysØ "kztzin' _m mb ] m_v \mj-w _m v (]n-f _n) 1895 emtlm-dn-emwv {]h Ø\w Bcw- `n- -Xv. c v e w cq]-bpss AwKo-IrX aqe-[-\hpw 20,000 cq]-bpss {]h Ø\ aqe- [-\-hp-ambn XpS-ßnb _m ns _nkn-\kv Ign kmº-øni h jw HSp-hn-esØ IW v {]Imcw 9.65 e w timsn cq]-bm- Wv. hm jn-im-sn-ÿm-\-øn 9.5 ix-am\w hf -bmwv _m v XpS-ßn-b-Xn\p tijw ]nf _n v C]n-Fkv ]n/c C kv{sn ]n/c hn]-wn-aqeyw 27,248 timsn cq] 52 BgvNsØ Db hne cq] 52 BgvNsØ cq] Xmgv hne _p v hmeyp cq] ]n/_nhn 0.70 Unhn-U bo Uv t^kv hmeyp 2 cq] F -F-kvC PNB timuv _nf-kvc timuv CXp-hsc D m-b-xv. BtKm-f- -B-`y- c _n kn-\-kv, B`y- c \nt -]-߃, A hm bv], Id v A u- v- tkhnwkvkv A u v \nt -]-߃, {]h Ø\ em`w XpSßnb am\-z-wvu-ß-fpss ASn-ÿm-\-Øn tzi-km IrX _m p-i-ƒ ns-bn ]nf _n-bpss hf thdn- -Xm-sW v ImWmw. cmpysø G hpw henb c m-asø s]mxp-ta-jem _m mwv ]n-f _n. sk]v w-_ 30se IW p {]Imcw ]nf _n v cmpyøv 6845 imj-i-fpw 9841 FSn- F-Ωp-I-fp-ap- v. t\m v Akm-[p-hm- \S-]-SnbpsS {][m\ KpW-t`m- m- -fn-sem- mwv ]n 28 sluvpv Hmlcn s^{_p-hcn 2017 F _n. t\m v A km-[p-hm- \S- ]-SnbpsS A\- c ^ew F \ne-bn- ]nf _n am Pn-\ timãv Hm ^v ^ v t_kvuv se nßv td vkv (Fw-kn-F -B ) P\p-h-cn-bn 8.20 ix-am-\-ambn Ipd- p. t\m v Akm- [p-hm- \S-]-Sn p tijw 50,000 timsn-bn-tesd cq]- bpss \nt -]-am Wv ]nf _n-bn-se-øn-b-xv. CXv _m ns \nt ] snehv KWy-ambn Ipd- p. ani {]h Ø\ em`-amwv ]nf _n ssih-cn- p- -Xv. _nkn-\kv sa -s -Sp-Øp- -Xn-\mbn Ce-Ivt{Sm-WnIv kmt -XnI hnzy D]-tbm- Kn- p ]pxnb kwhn-[m-\-߃ Iº\n Bcw-`n- n- p v. FSn-F-Ωp-I-fpsS {]h Ø- \ßfpw em`- -a-xbpw hne-bn-cp-øp- -Xn- \mbn _m v Hcp tkm^v vshb cq]-s - Sp-Øn-bn- p- v. In m- Sw h [n- Xp aqew em`- -a-x bv v ]cn-t s]mxp-ta-jem _m p-ifpss em`w t\m v ac-hn- n- \S-]-Sn p tij-ap khn-tij kml-n-cysø XpS \ne-hn 135 cq]-bn hym ]mcw snøp ]nf _nbpss Hmlcn hne \S p km º-ØnI h jw 162 cq]bn te pw ASpØ kmº-øn I h jw 197 cq]bnte pw Db-cm-\p km[y-x-bp- v. 123 cq]-bmwv Cu Hml-cn-bn \nt ]w \S-Øp- -Xn\v A\p-tbm-Py-amb hne. v ASpØ c v ss{xam-k-ß-fn sa s -Sm km[y-x-bp- v. Cu kml-ncyw {]tbm-p-\-s -Sp-Øm B{K-ln- p \n t -]-I v ]cn-k-wn- m-hp Hml-cn-Ifnsem- mwv ]nf _n. \S p kmº-øni h jw Pqem-bv- -sk- ]v w-_ ss{xam-k-øn ]nf _n-bpss em`w timsn cq]-bmwv. ap kmº- ØnI h jw kam\ Ime-b-f-hn timsn cq]-bm-bn-cp p em`w. In m- -S-Øn ta-ep \o n-bn-cp v h [n- -XmWv em`w Ipd-bm ImcWw. Ign kmº-øni h jw ]nf _n timsn cq]-bpss A -\jvsw tcj-s -Sp-Ønbncp- p. F m ]pxnb kml-ncyw ]nf _n-bpss em`- -ax h [n- n- p-sa- mwv {]Xo- n- p- -Xv. Hmlcn hnebpw ]pkvxi aqeyhpw X Ωn-ep A\p-]mX (ss{]kv Sp _p v hm eyp tdtjym)øns ASn-ÿm-\-Øn ]nf _n- BI j-i-amb aqey-ønemwv hym]mcw snøp- -sx p ImWmw cq] ]pkvx-i-aq-ey-ap HmlcnbpsS hne Ct mƒ AXns \men aq v am{x-am-wv. \ne-hn 135 cq]-bn hym]mcw snøp ]nf _n-bpss Hmlcn hne \S p km º-ØnI h jw 162 cq]bnte pw ASpØ kmº-øni h jw 197 cq]bnte pw Dbcm-\p km[y-x-bp- v. 123 cq]-bmwv Cu Hml-cn-bn \nt ]w \S-Øp- -Xn\v A\ptbm-Py-amb hne.

29 Stock Recommendations {lkz-ime \nt -]-Øn-\mbn A v Hml-cn-Iƒ sluvpv dnk v sukviv \h-\oxv FUp-t -j v hmtß hne 110 cq] e y-am- p hne 135 cq] C]n-Fkv 5.36 ]n/c C kv{sn ]n/c hn]-wn-aqeyw 2936 timsn cq] 52 BgvNsØ cq] Db hne 52 BgvNsØ cq] Xmgv hne Unhn-U 1.78% bo Uv t^kv hmeyp 2 cq] F -F-kvC NAVNETEDUL timuv _nf-kvc timuv sfun-f^vkn _m v [\-Imcy tkh\ cwkøv {]h Øn- p sfun-f^vkn v _m nwkv ssek kv e `n- -Xn\p tij-amwv Iº\n hn`pn v sf Un-F^vkn _m v IqSn cq]w sim -Xv. B I j-i-amb hne-bn-emwv sfun-f^vkn _m ns Hmlcn Ct mƒ hym]mcw snøp- -Xv. v hmtß hne 60 cq] e y-am- p hne 80 cq] C]n-Fkv 3.12 ]n/c C kv{sn ]n/c hn]-wn-aqeyw 21,805 timsn cq] 52 BgvNsØ Db hne cq] 52 BgvNsØ Xmgv hne cq] Unhn-U bo Uv 0.39% t^kv hmeyp 10 cq] F -F-kvC IDFCBANK timuv _nf-kvc timuv hnzym-`ym-k, hnzym- `ym-tk-xc ]pkvx I߃ {]kn- o-i-cn- p \h-\oxv F Up-t -j enan- Uns D \ncbn tãj-wdn C \-ßfpap v. hnhn [ {_m p-i-fn-embn Ht sd D - -ßfmWv Iº\n hn]- Wn-bn-en-d- p- -Xv. Ip n-iƒ mbpw s]mxp-hm-bp-ap ]pkvx-i-ßfpw I º\n {]kn o-i-cn- p- p. \mev ÿeß-fn-embn Iº-\n v D m-z\ ti{µß-fp- v. v hmtß hne 52 cq] e y-am- p hne 70 cq] C]n-Fkv ]n/c 20.9 C kv{sn ]n/c hn]-wn-aqeyw 3177 timsn cq] 52 BgvNsØ Db hne cq] 52 BgvNsØ Xmgv hne cq] Unhn-U bo Uv 1.91% t^kv hmeyp 10 cq] F -F-kvC RCF timuv _nf-kvc timuv spbn Cdn-tK-j B kn-f^v hf-ßfpw cmk-h-kvxp- fpw D m-zn- n- p an\n-cxv\ Iº-\n-bmWv cmjv{sob sian- kv B v s^ n-sse-tkgvkv enan- - Uv. bqdnb apx hymh-km-bni Bh-iy- Øn-\p cmk-h-kvxp- ƒ hsc Iº\n D m-zn- n- p- p. D m-z\w h [n- n- p- -Xn-\p ] -Xn-Iƒ \S- n-em n hcp- p. v hmtß hne 87 cq] e y-am- p hne 110 cq] C]n-Fkv 3.87 ]n/c C kv{sn ]n/c hn]-wn-aqeyw 4391 timsn cq] 52 BgvNsØ cq] Db hne 52 BgvNsØ Xmgv hne 47 cq] Unhn-U bo Uv 0.55 % t^kv hmeyp 2 cq] F -F-kvC JISLJALEQS timuv _nf-kvc timuv {lkz-ime \nt -]-Øn-eqsS t\ -ap m- p- - Xn\mbn Ct mƒ hmßm A\p-tbm-Py-amb A v Hml-cn-Iƒ A{Kn- _n-kn-\kv cwk-øv {]h Øn- p- Iº-\n-bm Wv spbn CdntK-j. sh w Xfn- p Pe-tk- N\ D]-I-c-W-߃, hm hp-iƒ, hm ^n -dp-i ƒ, snsn-iƒ hf Øp- -Xn-\p IÆm-Sn- q-sv, ssp h-h-fw, ]nhnkn ss] v, ]nhnkn jo v XpS-ßnb D - -߃ I º\n \n an- p- p. Pyqkv D m- Z-\hpw Iº\n \ S-Øp- p- v. sfkn-sf-knsf {]qu jy sse^v C jp-d kv tãm v FIvkvtN- p-i-fn enãv snbvx BZysØ sse^v C jp-d kv Iº-\n-bm Wv sfkn-sf-knsf _m n-s -bpw {]qu jy tim -td-j tlmƒunw-kvkn-s bpw kwbp kwcw-`-amb sfkn-sf-kn sf {]qu jy sse^v C jp-d kv. v hmtß hne 320 cq] e y-am- p hne 380 cq] C]n-Fkv 7.48 ]n/c C kv{sn ]n/c hn]-wn-aqeyw 51,463 timsn cq] 52 BgvNsØ cq] Db hne 52 BgvNsØ Xmgv hne cq] Unhn-U bo Uv % t^kv hmeyp 10 cq] F -F-kvC ICICIPRULI timuv _nf-kvc timuv sluvpv Hmlcn s^{_p-hcn

30 Event Calendar TIME COUNTRY EVENT TIME COUNTRY EVENT Wednesday, February 1 6:30am Manufacturing PMI CHINA 3:00pm Manufacturing PMI UK 6:45pm ADP Non-Farm Employment Change US 8:30pm ISM Manufacturing PMI US 10:30am Nikkei Markit Manufacturing PMI (Jan) INDIA Union Budget INDIA 11:30pm M3 Money Supply INDIA 9:00pm Crude Oil Inventories US Thursday, February 2 12:30am FOMC Statement US Federal Funds Rate US 3:00pm Construction PMI UK 5:30pm BOE Inflation Report UK MPC Official Bank Rate Votes UK Monetary Policy Summary UK Official Bank Rate UK 7:00pm Unemployment Claims US Friday, February 3 6:00am RBA Monetary Policy Statement AUSTRALIA 7:15am Caixin Manufacturing PMI CHINA 3:00pm Services PMI UK 7:00pm Average Hourly Earnings m/m US Non-Farm Employment Change US Unemployment Rate US 10:30AM Nikkei Services PMI INDIA 8:30pm ISM Non-Manufacturing PMI US Monday, February 6 6:00am Retail Sales m/m AUSTRALIA Tuesday, February 7 9:00am Cash Rate AUSTRALIA RBA Rate Statement AUSTRALIA 10:00 RBI Policy Meet INDIA Wednesday, February 8 Tentative Trade Balance CHINA 9:00pm Crude Oil Inventories US *2:30pm RBI Policy Meet INDIA Thursday, February 9 7:00am CPI y/y CHINA 7:00pm Unemployment Claims US Friday, February 10 3:00pm Manufacturing Production m/m UK 8:30pm Prelim UoM Consumer Sentiment US 5.00 PM Cumulative Industrial Production INDIA 5.00 PM Industrial Production (YoY) INDIA 5.00 PM Manufacturing Output (MoM) INDIA Monday, February 13 5:20am Prelim GDP q/q JAPAN 17:30 CPI (YoY) (Jan) INDIA Tuesday, February 14 12:30pm German Prelim GDP q/q EUROPE 3:00pm CPI y/y UK 7:00pm PPI m/m US 12:00 PM WPI Inflation YoY (JAN) INDIA Wednesday, February 15 3:00pm Average Earnings Index 3m/y UK Claimant Count Change UK 7:00pm CPI m/m US Core CPI m/m US Core Retail Sales m/m US Retail Sales m/m US 9:00pm Crude Oil Inventories US 6:00 PM Balance of Trade (JAN) INDIA Thursday, February 16 6:00am Employment Change AUSTRALIA Unemployment Rate AUSTRALIA 7:00pm Building Permits US Philly Fed Manufacturing Index US Unemployment Claims US Friday, February 17 3:00pm Retail Sales m/m UK Tuesday, February 21 6:00am Monetary Policy Meeting Minutes AUSTRALIA 3:30pm Inflation Report Hearings UK Wednesday, February 22 2:30pm German Ifo Business Climate EUROPE 9:00pm Crude Oil Inventories US Thursday, February 23 12:30am FOMC Meeting Minutes US 6:00am Private Capital Expenditure q/q AUSTRALIA 3:00pm Second Estimate GDP q/q UK 7:00pm Unemployment Claims US Monday, February 27 7:00pm Core Durable Goods Orders m/m US Tuesday, February 28 7:00pm Prelim GDP q/q US 8:30pm CB Consumer Confidence US GDP Growth Rate YoY Q4 INDIA *ip]m i: ]nf _n Kn vkv hmtß hne: cq], e y-am- p hne: 56 cq] (B _nsf sdt m \nc v Im ixam\w Ipd-bv m km[y-x-bp- v. AØ-c-samcp \S-]Sn ]nf _n Kn vkns Hml-cn-bn apt - -Øn\v hgn-sbm-cp- ntb- pw.) ip]m i: F -Fw-Unkn hmtß hne: 145 cq], e y-am- p hne: 166 cq] (BtKmf Xe-Øn ItΩm-Un n hne Db-cp {]Xn- `m-k-amwv I p-h-cp- -Xv. Ccp-º-bn-cns {][m\ hnx-c-w- m-cmb F -Fw-Un-kn v Cu {]h-wx KpW-I-c-am-Ipw.) 30 sluvpv Hmlcn s^{_p-hcn 2017

31 sluvpv Hmlcn s^{_p-hcn

32 Market Review {]Xo- -I-fpsS ]n _-e-øn Hmlcn hn]wn Ic-I-bdn t\m v ac-hn- n- \S-]SnbpsS tzmj-^-e-ßsf \n ho-cy-am- p hº {]Jym-]-\-߃ _P- n- D m-ip-sa {]Xo- -bmwv hn]wn apt -dp- -Xn\v hgn-sbm-cp- n-b-xv. ti{µ-k m-cns 500, 1000 cq] t\m p- Iƒ ac-hn- n \S-]-Sn kº-zvhy-h-ÿ-bn {]Xn-Iqe Ne-\-߃ krjvsn- p-sa Bi- -bpss ] m-ø-e-øn ]pxp-h jw Bcw- `n Hmlcn hn]wn Bi- -Iƒ am n-sh v ani apt w \S-Øp- -Xm-Wv P\p-h-cnbn I -Xv. ti{µ _P- n kp{][m\ {]Jym-]-\-߃ D m-ip-sa {]Xo- -IfmWv hn]-wnsb apt m- p-\-bn- -Xv. t\m v ac-hn- n- \S-]Sn samø B`y- c D m-z-\-søbpw Hcp hn`mkw Iº-\n-I-fpsS hcp-am\ hf -sbbpw {]Xn- Iq-e-ambn _m[n- p-sa Bi- sb XpS v \hw-_-dn i -amb CSnhv t\cn- Hmlcn hn]wn Unkw-_-dn \S-Ønb "I tkm-fn-tu-j's XpS F \nebn-ep apt - -amwv P\p-h-cn-bn I - Xv. P\p-h-cn-bn A v ix-am\w apt - - amwv \n^v n ssih-cn- -Xv. B`y- c Xe-Øn-ep {]Xo- -I-fmWv hn]-wn v XpW-tb-In-b-Xv. t\m p ac-hn- n- \S-]SnbpsS tzmj-^-e-ßsf \n hocy-am- p hº {]Jym-]-\-߃ _P- nep- m-ip-sa {]Xo- -bmwv hn]wn apt -dp- -Xn\v hgn-sbm-cp- n-b-xv. AXn-\n ss bpfkv {]kn-u v sumwmƒuv {Sw]v XpS-ßn-sh {]tim-]-\-]-c-amb \S-]-Sn-Iƒ BtKmf kº-zvhy-h-ÿ-bn-ep- m- nb Bi- -Isf hn]wn Ah-K-Wn- p. B`y- c \nt ] ÿm]-\-߃ hn]-wn v ]n pw \ Ip {]h- WXbmWv ]pxp-h j- B`y- c \nt ] ÿm]-\- ߃ hn]-wn v ]n pw \ Ip {]h-wxbmwv ImWp- -Xv. P\p-hcnbn hntzi \nt ] ÿm]-\- ߃ 1901 timsn cq]-bpss A -hn \ \S-Øn-b-t mƒ B`y- c \nt ] ÿm]-\- ߃ 4503 timsnbpss A - \n-t -]w \SØn. Hml-cn, ItΩm-Un- n, Id kn hn]-wn-i-fpss {]I-S\w (P\phcn 31se hn]wn \ne A\p-k-cn- v) Øns XpS- -Øn I -Xv P\p-hcn hn]wn P\p-hcn 31 Hcp amksø Hcp h jsø H v apx 31 hsc hntz se \ne t\ w/\jvsw t\ w/\jvsw i \nt ] ÿm]-\-ß \n^v n % % ƒ 1901 timsn cq]-bpss Hmlcn tum tpm kv 19, % % A -hn \ \S-Øn-bt mƒ hn]wn UmIvkv 11, % % B`y- c \nt \n n 19, % +9.12% ] ÿm]-\-߃ 4503 timsn cq]-bpss A -\nt -]-amwv ItΩm-Un n kz Ww (Hcp Hu kns % % \S-Øn-b-Xv. hn]wn tumf-dn-ep hne) hntzi \nt ] ÿm]- {IqUv Hmbn (Hcp % % \-߃ hn \ \S-Ønbn pw Hmlcn kqnni Id kn bpfkv tumf cq] 0.63% % _mc-en\v tumf-dn-ep hne) Db-cp-Ibpw snbvxp. 32 sluvpv Hmlcn s^{_p-hcn 2017 hntzi \nt -] ÿm]-\-߃ XpS bmbn \mem-asø amkhpw A -hn -\ XpScpI-bmWv snbvx-xv. HIvtSm-_ - -Un-kw- _ ss{xam-k-øn 30,000 timsn cq]-bpss A -hn -\-bmwv hntzi \nt ] ÿm]- \-߃ \S-Øn-bncp- -Xv. HIvtSm-_-dn \S [\ \b AhtemI\ tbmk-øn sdt m \nc v Im ix-am\w Ipd dnk hv _m ns [\ \b Ah-tem-I\ kanxn Unkw-_-dn \nc v am -an- msx XpS p-sh- nepw s^{_p-h-cn-bn sdt m \nc v Im ixam\w Ipd-bv m km[y-x-bp-s mwv \nco- -I A`n-{]m-b-s -Sp- -Xv. ]en-i-\nc v Ipd-bp-sa {]Xo- bpw Hmlcn hn]- Wnsb apt m p \bn- p LS-I-am-Wv. hymh-km-bni D m-z\ kqnnibpw ]W-s -cp- hpw C y-bpss D]-t`mKvXr hne kqnn-ibpss ASn-ÿm-\-Øn-ep ]W-s -cp w KWy-ambn Ipd- p ix-am-\-amwv Unkw_-dnse D]-t`mKvXr hne kqnn-ibpss ASn-ÿm-\-Øn-ep ]W-s -cp w. CXv \hw-_-dn 3.63 ixam\hpw HIvtSm _-dn 4.2 ix-am-\-am-bn-cp- p. \mev ix-am-\-amwv dnk hv _m pw ti{µ-k mcpw e y-am- n-bn-cn- p ]W-s -cp \nc- v. CXn-t\- mƒ Xmgv \nc- n-te- mwv ]W-s -cp \nc v FØn-b-Xv. ` y-hkvxp- -fp-ssbpw ] - -dn-i-fp-ssbpw hne Ipd- -XmWv ]Ws -cp \nc v Ipd- n\v Imc-Ww. ` y hkvxp- -fpss hne- -b w 1.37 ix-am\w am{x-am-wv. AtX kabw Unkw_-dnse samø hym]mc hne kqnn-i-bpss ASn-ÿm-\-Ønep ]W-s -cp w 3.39 ix-am-\-am-bn Db p. CXv \hw_-dn 3.15 ix-am-\ambn-cp- p. D]-t`mKvXr hne kqnn-i-bpssbpw samø hym]mc hne kqnn-i-bpssbpw ASnÿm-\-Øn-ep ]Ws -cp w GXm v Htc \nc- n-em-bn-cn- p IuXp-I-I-c-amb {]Xn-`mk-amWv Ct mƒ ImWp- -Xv. ap amk-ß-fn \n pw hyxy-kvx-ambn hymh-kmbni D m-z\ kqnni ani hf tcj-s -Sp-ØpI-bmWv snbvx-xv. \hw_-dnse hymh-kmbni D m- Z\w ap h jw kam\ Ime-b-f-hp-ambn Xmc- Xayw snøptºmƒ 5.7 ix-am\w Db p.

33 Commodity Watch {Sw]v ]nsn-ap-dp- n-b-t mƒ kz W hne- Db p {Sw]ns ]pxnb \S-]-Sn-Iƒ krjvsn p Bi- -Iƒ A\n- nx thf-i-fnse kpc- nx \nt ] am K-amb kz WØnte v ho pw \nt -]-saøm\pw hne Db-cm\pw Imc-W-am-bn. kz W hne 11 amksø Xmgv \nebn-te v CSn-bp- -XmWv Unkw-_-dn I sx n ]pxp-h jønse BZy-amkw \mec ix-am\w apt - -amwv kz W-Ønep- m-b-xv. A[n-Im-c-Øn-te-dn-b-bp-Ss\ ]pxnb bpfkv {]kn-u v sumwmƒuv {Sw]v XpSßn-sh {]tim-]-\- ]-c-amb \ S-]-Sn-Iƒ BtKmf kº-zvhyh-ÿ-bnep- m- n b Bi- - IfmWv kz W hnesb XpW- -Xv. bpf-kns kmº-øni hf \memw ss{xam-k-øn Ipd- Xpw kz WØn s Unam v h [n- n LS-I-am-Wv. s^ud- dnk hv 2017 aq v XhW IqSn \nc v Db Øm km[y-x-bp-s - v kq-nn- n- ncps - nepw hf Ipd-bp kml-n-cy-øn s^u-d- dnk hns \ne-]m-sn am - ap- m-im-\p km[y-xbpw kz WsØ XpW- p. P\p-hcn BZyw Hu kn\v 1160 tumfdn\v Xmsg-bm-bn-cp tumf hne ]n osv 1220 tumf hsc-sb-øn. \ne-hn 1180 tumf-dn Xmßpw 1200 tumf-dn kω Zhp-ap- v. Hcp amkøn\ns-s Hcp Hu kv kz WØns hne-bn-ep- mb Ib- n-d w (tum-f-dn ) bpfkv {]kn-u v Xnc-s -Sp- v {]Nmc-W-Øns Ah-km\ L -Øn sumwm ƒuv {Sw]v apt -dn-bxv kz W hne Db-cp- -Xn\v Imc-W-am-bn-cp- p. {Sw]ns hnpbw kmº-øni A\n- n-xxzw krjvsn- -p-sa Bi- bp Xn-\m A\n- nx thf-i-fn se kpc- nx \nt ] am K-amb kz W Ønte v \nt -]-sa-øp-i-bm-bn-cp- p. F m {Sw]v Pbn- -Xn\p tijw Cu apt w XpS n. ASn-ÿm\ kuicy taj-e-bn IqSp-X \nt ]w \S-Øp-sa {Sw]ns ]pxnb {]Jym-]-\-߃ h txmss At±-l-Øns \bw ]W-s -cp w h [n- p- -Xn\p Imc-W-am-Ip-sa pw Aß s\ h m bpfkv ]en-i-\n-c v Db Øpsa- pambn \nk-a-\-߃. F m {Sw]ns ]pxnb \S-]-Sn-Iƒ krjvsn p Bi- - I-ƒ A\n- nx thf-i-fn se kpc- nx \nt ] am K-amb kz WØnte v ho pw \nt -]-saøm\pw hne Db-cm\pw Imc-W-am-bn. ap n߃ v `qcn-]- -ap Ggv cmpy-ß-fn \n p A`-bm n- Iƒ v hne v G s -Sp-Ønb {Sw]ns \S- ]Sn cmpym- c Xe-Øn i -amb hna i- \-amwv Wn- p-h-cp-øn-b-xv. P\p-h-cn-bn kz W hn-e-bn \mec ix-am\w apt - am-wp- m-b-xv. P\p-h-cn- 31se \ne A\p-k-cn v temi-ønse G hpw henb tkmƒuv FIvkvtN v t{suuv ^ mb Fkv-]n-UnB tkmƒuv {SÃns ssih-i-ap kz Ww 914 SÆmbn h [n- p. sh n- P\p-h-cn-bn sh n-bpss hne-bnepw ap t - ap- m-bn. P\p-h-cnbn kz W hn-e-bn 8.15 ix-am\w apt - am- Wp- m-b-xv. Hcp h j- Øn-\nsS sh n-bpss hne-bn- 21 ix-am\w h [-\-bp-ap- m-bn. Unkw-_dn sh n-bpss cmpym- c hn e- Hu kn\v 16 tumfdn\v Xmtg v CSn n cp- p. F m P\p-h- cn-bn hne 17 tumf-dn\v api-fn-te v Db p. bp Fkv {]kn U v sum WmƒUv {Sw ]v XpS-ßn-sh {]tim-]-\- ]-c-amb \S-]- Sn-Iƒ BtKmf kº-zvhy-h-ÿ-bn-ep- m- nb Bi- -Ifpw bpf-kns kmº-øni hf \memw ss{xam-k-øn Ipd- Xpw sh nbpss Unam v h [n- n LS-Ißfm-Wv. tim ASn-ÿm\ kuicy taje-bn IqSp-X \nt ]w \S-Øp-sa bp-f- nse \n bp {]kn- U vsum-wm ƒuv {Sw]ns {]Jym]\w tim Db- \ne-bn XpScp- -Xn\v Imc-W-am-bn. Unkw-_ Ahkm\w SÆn\v 5500 tumf \ne-hm-c-ønem-bn-cp tim hne P\p-hcn Ahkm\w 5850 tumf-dn-te v Db p. d_ d_ hne aq v h jsø Db \ne-hm-c-øn-te v Db p. P\p-hcn Ahkm\w B -F-kv-Fkv 4 d_dns hne Intem-{Km-an\v 158 cq]bmwv. Hcp amk-øn- \nss Intem-{Km-an\v 20 cq]-bpss h [-\- bm-wp- m-b-xv. {]apj d_ D m-zi cm Py-amb Xmbvem n \n p kssπ Ipd XmWv hne h [-\-hn\v Im c-ww. hne C \nbpw Db-cm-\p km[y-x-bm Wp Xv. sluvpv Hmlcn s^{_p-hcn

34 \nt -]-ß-fpsS aqe[\ t\ \nipxn Fßs\ IW- m mw? \nt ] Bkq-{XWw \SØptºmƒ hnhn[ \nt ] ] -Xn-I-fn \n p t\ -Øn\v \nipxn _m[-i-amtwmsb pw BsW- n F{X ix-am-\amsw pw ]cn-tim-[n-t - -Xp- v. \nt ]ßfn \n v e`n- p t\ - Øn\pw ]en-ibv pw \nipxn _m[-i-amtwm-sb Imcyw ]e-t mgpw \nt -]-I {i n- m-dn-. ]n]n-f-^v, C]n-F^v XpSßnb Zo L-Ime \nt ] ] -Xn-Ifn \n p aqe-[\ t\ -Øn\v \nipxn _m [-I-as - n Nne \nt ] ] -Xn-I-fn \n v e`n- p t\ -Øn-\p \nipxn _m [yx hnhn[ Ime-b-f-hp-Iƒ v A\p-kcn v hyxy-kvx-am-wv. hnhn[ \nt ] ] - Xn-I-fn \n p aqe-[\ t\ -Øn-\p \nipxn Fß-s\-bmWv IW- m- p- -sx- mwv Xmsg hy -am- n-bn-cn- p- -Xv. tkhnmvkv A u- v: 10,000 cq] hsc-bp ]en-i \nipxn ap w. kmº-øni h j-ønse 10,000 cq] p api-fn-ep ]eni v \nipxn m_v A\p-k-cn v \nipxn \ IWw. SnUn-Fkv _m[-i-a-. ^nivkuv sut m-kn- v: apgp-h ]eni pw \nipxn \ IWw. kmº- ØnI h j-ønse _m v ^n IvkUv sut m-kn- n \n p ]eni 10,000 cq] v apifn-em-sw- n- SnUn-Fkv _m[- Iw. sd -dnmv sut m-kn v: apgp-h ]en-i pw \nipxn \ IWw. Sn Un-Fkv _m[-i-a-. SmIvkv {^o t_m v: apgph ]en-ibpw \nipxn ap w. Imem-h[n ]q Øn-bm-Ip- -Xn\p apºv hn p-ibm-sw- n 34 sluvpv Hmlcn s^{_p-hcn 2017 ]en-i-bpss 10 ix-am\w \nipxn \ I- Ww. Hcp h j-øn\p apºmwv hn p- -sx- n km[m-cw hcp-am-\-ambn IW- m n \nipxn \ I-Ww. t_m v, Uns_- : apgp-h ]en-i pw \nipxn \ IWw. Imem-h[n ]q Øn-bm- Ip- -Xn\p apºv hn p-i-bm-sw- n ]eni-bpss 10 ix-am\w \nipxn \ I-Ww. Hcp h j-øn\p apºmwv hn p- -sx- n km[m-cw hcp-am-\-ambn IW- m n \nipxn \ I-Ww. Hmlcn \nt ]w, CIzn n ^ v, Hmlcn-I-fn apjy-am bpw \nt -]n- p _m e kvuv ^ p- \nt ]ßfn \n v e`n- p t\ -Øn\pw ]en-i bv pw \nipxn _m[-i-amtwm-sb Imcyw ]e-t mgpw \nt -]-I {i n- m-dn-. Nne \nt ] ] -Xn-I-fn \n v e`n- p t\ -Øn-\p \nipxn _m[yx hnhn[ Ime-b-f-hp-I-fn hyxy-kvx-ambn-cn- pw. Iƒ, B _n-t{spv ^ p-iƒ: Hcp h j- Øn\p tij-amwv hn p- -sx- n \nipxn ap w. Hcp h jøn \p apºmwv hn p- -sx- n t\ -Øns 15 ix-am\w \nipxn _m[-iw. em`-hn-ln-x-øn\v \nipxn \ ti- -Xn-. su v ^ p-iƒ-: aq v h j- Øn\p tij-amwv hn p- -sx- n t\csø \S-Ønb \nt - ]-Øns timãv C ^vtf-j C U Ivkv A\p-k-cn v IW- m nb C t mgsø aqey-tø- mƒ IqSp-X-embn e`n XpI-bpsS 20 ix-am\w \nipxn \ IWw. aq v h j-øn\p apºmwv hn p- -sx- n \nipxn m_v A\pk-cn v \nipxn \ IWw. em`-hn-ln- X-Øn\v \nipxn \ ti- -Xn-. ] t ix-am\w em` -hn-lnx hnxcw \nip-xn-bmbn kvioap-iƒ \ Ip- p. kz Ww: kz Wm`-c-W-ßfpw tkmƒuv CSn- F-^v, tkmƒuv ^ p-iƒ F n-hbpss bq Wn- p-ifpw aq v h j-øn\p apºv hn p- I-bm-sW- n \nipxn m_v A\p-k-cn- p \nip-xn _m[-i-am-bn-cn pw. aq v h j-øn\p tij-amwv hn p- -sx- n t\csø \S-Ønb \nt -]-Øns timãv C ^vtf-j C UIvkv A\p-k-cn v IW- m nb Ct mgsø aqey-tø- mƒ IqSp- X-emWv em`w e`n- -sx- n A[n-I-ambn e`n XpI-bpsS 20 ix-am\w \nipxn \ IWw.

35 hnzym-`ymk hmbv]-bpss Xncn- -Shv Bcw-`n- p-tºmƒ \nipxn Cfhv e`n- pw. ]eni AS- m Bcw-`n h jhpw AXn\p tij-ap Ggv h j-hp-amwv \nipxn Cfhv e`n- p- -Xv. hmbv]bv pw kw`m-h-\bv pw \nipxn Cfhv BZm-b-\n-IpXn \nbaw sk 80 C {]Im-cw D X hnzym-`ymkøn\p hmbv]- bpss ]en-i-bv mwv \nipxn Cfhv e`n- p- -Xv. hmbv]-bpss Xncn- -Shv XpI-bn aqe-[-\hpw ]en-ibpw Dƒs - n-cn- p- p. CXn ]eni {]txyiw IW- m- n-bmwv BZm-b-\n-IpXn \nbaw sk 80 C {]Imcw \nipxn Cfhv Ah-Im-i-s -ts- -Xv. `h-\-hmbv] t]mse hnzym`ymk hmbv] v e`n- p \nipxn Cf-hn\v {]txyi ]cn[n I n- n- n-. ]eni AS kmº- ØnI h jw AXn-\p \nipxn Cfhv Ah-Im-i-s -Sm-hp- -Xm-Wv. \nip-xn-zm-xm-hn t\m `mcybvt m Ip n-iƒt m th n FSp Ø hnzym-`ymk hmbv]- mwv \nipxn Cfhv e`n- p- -Xv. [\-Imcy ÿm]-\-øn \n t m AwKo-IrX Nmcn- _vƒ {SÃn \nt m FSpØ hmbv] v am{xta \nipxn Cfhv e`n- p-i-bp- q. sxmgn-ep-s-a-bn \nt m at m hnzym-`ymk Bh-iy-Øn-\mbn FSpØ hmbv] v \nipxn Cfhv Ah-Im-i-s -Sm km[n n-. F m timgvkp-iƒ p-ap hnzym-`ymk hmbv] v \nipxn Cfhv e`ya. ko\n-b sk dn ]co- ]mkm-b-xn\p tij-ap sdkp-e s{]m^-j-w timgvkp-iƒ ]Tn- p- -Xn-\mbn FSp p hmbv] p am{xamwv \nipxn Cfhv e`n- p- -Xv. apgp-h kab timgvks n \nipxn Cfhv e`n- n-. timgvkv ]Tn- p- Xv C y-bntem hntz-itøm BImw. hmbv]-bpss Xncn- -Shv Bcw-`n- p-tºmƒ Xs \nipxn Cfhv e`n- pw. ]eni AS- m Bcw-`n h jhpw AXn\p tijap Ggv h j-hp-amwv \nipxn Cfhv e`n- p- -Xv. F v h jw am{xta \nipxn Cfhv e`yam-bn-cn- p-i-bp- q. AXn-\m hmbv]m Xncn- -Shv Zo Ln- n- p-i-bm-sw- n F v h j- Øn\p tijw \nipxn Cfhv e`n- msx t]mipw. em`-hn-lnxw hgn-bp hcpam-\w, Im jni hcp-am-\w, dnk hv _mt m s]mxp-ta-j em _m p-itfm ]pd-øn-d- n b t_m p-iƒ t]mep \nipxn Hgn-hm- -s ] - Xn-I-fn \n p ]eni C\- Øn-ep hcp-am\w F nh v \nipxn _m[i-a-. hosns A -Ip- -]-Wn p sne-hn\v \nipxn Cfhv \nip-xn-zm-xmhv Xma-kn- p hosns A -Ip- ]-Wn- mbn FSp- p hmbv] bnt Xncn- -S- p 30,000 cq] hsc-bp ]en-i-bv mwv \nipxn Cfhv e`n- p-i. A tx kabw hms-i v simsp- pitbm shdpsx-bn- n-cn- p-itbm snbvxn-cn- p c masø hosn\mwv A - p- - -Wnsb n \nipxn Cf-hn\v {]txyi ]cn-[n-bn-. a v CfhpIƒ kw`m-h-\-bmbn AwKo-IrX ÿm]-\- ߃t m (sk- 80 Pn) AwKo-IrX cmjv{so-b-i- n-iƒt m (sk- 80 PnPnkn) cioxv hmßn \ Ip XpIbv v \nipxn Cfhv e`y-am-wv. Nne hcp-am-\-ßsf BZm-b-\n-IpXn \nb a {]Imcw \nipxn hnt[-b-amb hcp-am-\- Øn \n pw Hgn-hm- n-bn- p- v. em`-hn-ln Xw hgn-bp hcp-am-\w, Hml-cn-I-fn \n p Zo L-Ime aqe-[\ t\ w (skiyq-cn- okv {Sm km- SmIvkv \ In \S-Ønb \nt -]-ß-fn am{xw), Im jni hcp-am- \w, dnk hv _mt m s]mxp-ta-jem _m p- Itfm ]pd-øn-d- nb t_m p-iƒ t]mep \nipxn Hgn-hm- -s ] -Xn-I-fn \n p ]eni C\-Øn-ep hcp-am\w F nh v \nipxn _m[i-a-. sluvpv Hmlcn s^{_p-hcn

36 hntzi C y- m-cpss \nt -]hpw \nipxn _m[y-xbpw BZm-b-\n-IpXn \nbaw sk 80 (kn) {]Imcw \nipxn Cfhv e`n- p ] -Xn-I-fn \nt -]n- p- Xn\v hntzi C y- m v Nne \nb-{ -W-ß-fp- v. hntzi C y- m Xß-fpsS kmº-øni CS-]m-Sp-Ifpw \nt -]hpw C y-bn \S- Øptºmƒ km[m-cw C y- mcptsxn \n pw hyxy-kvx-amb \nb-{ -W-ßfpw \n _- -\-Ifpw _m[-i-am-wv. _m v \nt ]w \n߃ hntzi C y- m-c-\mbn amdn Ign m \n߃ v A u- p-i-fp- tkhnwkvkv A u- mtbm ^nivkuv sut m-kn- mtbm GXv Xc-Øn-ep A u- p-ifpw _m p-i-fn A mcyw Adn-bn- n-cn- -Ww. XpS v \nß-fpss A u v _m v F -B H (t\m sdkn-u v Hm Un-\-dn) F hn`m-k-øn Dƒs -Sp-Øpw. ]t Cu A u- n C y v ]pdøp \n pw ]Ww \nt ]n m-\m-in-. C y p ]pdøp \n pw ]Ww \nt - ]n- Wsa- n AXn\v F -B C (t\m - -sd-kn-u v FIvtà W ) A u v Bh-iy-amWv. su_n- mtbm s{iun- mtbm hntz-iøp \n pw \S-Øp CS]m-Sp-Iƒ Cu -A- u- n cq]bpss ASn-ÿm-\- Øn I th v snbvxn-cn- pw. hntzi C y- m CF - Fkv-F-kp-I-fn \nt ]w \S-Øp- Xv k o W-amb {]{Inb A. sisshkn tcj-iƒ ka n- p-i-bmwv BZy-]-Sn. Xma-kn- p cmpy sø ta hn-emkw sxfn-bn- p tcjbpw hnk-bpss tim nbpw \nt -]-I ka n-t - -Xp- v. Ct mƒ hntzi C y- m v \m nep ASpØ _ p-hns\m w F -B C A ut m F^vkn-F -B (t^mdn Id kn t\m sdun-u v) A ut m Xpd mhp- -Xm-Wv. CØcw A u- p-ifn \m n-ep A u v DS-a v ]h Hm^v At mwn tlmƒu F \nebn CS-]m-Sp-Iƒ \S-Øm-hp- -Xm-Wv. Hmlcn \nt ]w hntzi C y- m v C y Hmlcn hn]-wn-bn CS-]m-Sp-Iƒ \SØp -Xn\v {]txyi \S-]Sn {Ia-߃ ]q Øn-bm-t - -Xp- v. Hcp t]m vt^m-fntbm C sh- Ãvsa v kviow (]n-sff-kv-) A u n\v At]- n- p- -Xn-\mbn AwKo-IrX Uoesd kao-]n- p-i-bmwv CXn-\mbn sntø- -Xv. Hml-cn-Iƒ hmßp-ibpw hn p-ibpw snøp- -Xn\v Cu AwKo-IrX Uoe-dpsS Hcp imjsb \ntbm-kn- pibpw Cu imj hgn am{xw CS-]m-Sp-Iƒ \SØpI-bp-amWv sntø- -Xv. hntzi C y- m ^yqt gvkv B v Hm]vj kv t{sunwtkm tjm v sk nwtkm \S-Øp Xv A\p-h-Z-\o-b-a-. F -B C A u- p-iƒ hgntbm hntz-iøp \nt m BWv \nt -]-Øn- \p aqe-[\w A u n \nt -]n p- -sx- n Cu aqe-[\w C y-bn-te v Ab- m-hp- -Xm-Wv. 12 amk-øn\p api-fn Hml-cn-Iƒ ssihiw sh -Xn\p tijw e`n- p t\ -Øn\v \nipxn _m[-i-a-. 12 amkøn Xmsg Hml-cn-Iƒ 36 sluvpv Hmlcn s^{_p-hcn 2017

37 ssihiw sh -Xn\p tijamwv hn p- -sx- n 15 ix-am\w \nipxn _m[-i-am-wv. Hml-cn-IfpsS em`-hoxøn\pw \nipxn _m[-i-a-. Hmlcn \nt ]Øn eqss \nt -]-I v e`n- p t\ -Øn\v \ ti \nipxn kw_- n Cu N -߃ hntzi C y- m pw kztz-in-iƒ pw Hcp t]mse-bm-wv. ayqnz ^ v \nt ]w HmlcnIfn-se t]mse ayq Nz ^ p-i-fpss CIzn n ^ p- I-fnepw hntzi C y- m v \n t ]w \S-Øm-hp- -Xm-Wv. ayqnz ^ p-i-fpss su v ^ p-ifmwv hntzi C y- m v B{ibn- m-hp as mcp \nt ] am Kw. Hcp h j-øn\v api-fn \n _- nx \nt ] Ime-b-f-hp F^v kn-f -B A u- p-i-fn \n v \mev ix-am-\-øn IqSp-X t\ w e`n- p- n-. AtX kabw su v ^ p-iƒ CXn-t\- mƒ Db t\ w \ Ip- p- v. CIzn n ^ pifn \n v e`n- p t\ w 12 amk-øn\p api-fn bqwn- p-iƒ ssihiw sh -Xn\p tijw hn t mƒ e`n- -Xm-sW- n \nipxn _m[-ia- -. ^ p- Iƒ \ Ip Unhn-U pw \nip-xn-ap- - am-wv. \nipxn Cfhv e`n p \nt ] am K-߃ BZm-b-\n-IpXn \nbaw sk 80 (kn) {]Imcw \nipxn Cfhv e`n- p ] -Xn-I-fn \nt -]n- p- -Xn\v hntzi C y- m v Nne \nb-{ -W-ß-fp- v. ]p Xn-b-Xmbn Hcp ]ªnIv t{]mhn-u v ^ v (]n-]n-f-^v) A u v Xpd-bv p Xnt\m \mj-w tkhnwkvkv k n-^n- n (F - Fkvkn) ]pxnb \nt ]w \S-Øp- - Xnt\m hntzi C y- m v A\p-hm-Z-an-. hntzitø v t]mip- -Xn\p apºv XpSßnb ]n]n-f^v A u- n F m h j hpw \nt ]w \S-Ømw. F -Fkvkn \n t ]w \S-Øn-bXv hntzitø v t]mip- -Xn\p apºmsw- n AXv XpS-cm\pw km[n- pw. _m p-i-fpss A v h jsø ÿnc- \n-t -]-amwv hntzi C y- m v B{ibn- m-hp \nipxn Cfhv e`n- p \n t ] ] -Xn-I-fn H v. \ne-hn _m p- I-fpsS A v h jsø ÿnc-\n-t -]- Øn\v e`n- p hm jni ]eni ix-am\w am{x-am-wv. Cu ]eni v \nip- Xn-Zm-b-Is SmIvkv {_m n\v A\p-k-cn- p \nipxn \ ti- -Xp- v. DZm-l-c- W-Øn\v Ggv ix-am-\-amwv ]en-i-sb- n 30 ix-am\w \nipxn \ Ip- - Hcmƒ v \nip-xn p tijw e`n- p t\ w 4.9 ixam\w am{x-am-bn-cn- pw. AXp-sIm p X s Cu \nt ] ] Xn Xo Øpw A\m- I j-i-am-wv. hntzi C y- m v C jp-d kv t]mfn-kn-i-fn-eqss \nipxn Cfhv t\sn-sb- Sp- m-\m-ipw. F m \nt -]hpw C jpd kpw an{iww snbvxn- p bpen-]p- Itfm ]c-º-cm-kx C jp-d kv t]mfn-kn- Itfm \nt -]-Øn\v A\p-tbm-Py-a-. Cu t]mfn-kn-iƒ \nt ]w F \ne-bnepw C jp-d kv F \ne-bnepap e y߃ \nd-th- m A]-cym-]vX-am-Wv. hntzi C y- m v \nt ]w \S- Øm-hp as mcp SmIvkv tkhnwkv ] Xn ayqnz ^ p-i-fpss CIzn n en vuv tkhnwkvkv kvioap- (C-F -F-kv-F-kv) I- fm-wv. Hmlcn A[n-jvTnX \nt -]-Øn \n p Db dnt t\sn-sb-sp- m-sa- Nne ^ v lukp-iƒ bpfn-sebpw Im\-U-bn-sebpw hntzi C y- m-cn \n pw \nt ]w kzoi-cn- p- Xv \n Øn-bn- p- v. Cu cmpy-ßfnse \nt ]w kw_- n \nb-{ -Wß-fmWv Imc-Ww. AtX kabw Hcp hn`mkw ^ v lukp-iƒ Ct mgpw \nt ]w kzoi-cn- p- p v. XmWv CØcw kvioap-ifpss khn-tij-x. Hmlcn hn]wn ASpØ h j-ß-fn i amb apt w \S-Øm-\p km[y X Cu kvioap-isf IqSp-X BI j-iam- p- p. aq v h jw Ign- m \nt ]w ]n h-en- m-\p kui-cy-hp-ap- v. \ne-hn G hpw Ipd \n _- nx \nt ] Ime-b-f-hp ] -Xn-bmWv CF -F-kv-F-kv. hntzi C y- m v CF -F-kv -F-kp- I-fn \nt ]w \S-Øp- Xv A{X k o W-amb {]{Inb A. sisshkn (t\m bqh IÃ-am ) tcj-iƒ ka n- p-i-bmwv BZy-]-Sn. Xma-kn- p cmpy sø ta hn-emkw sxfn-bn- p tcjbpw hnk-bpss tim nbpw ka n-t - -Xp- v. an ^ v lukp-ifpw Hm sse-\m bn tcj-iƒ ka n- m-\p kwhn-[m\w Hcp- n-bn- p- v. hountbm timƒ hgn hy n-k-x-amb shcn-^n-t -j ]q Øo- I-cn- m-hp- -Xm-Wv. Bh-iy-amb tcj-iƒ simcn-b hgnbpw Ab- mw. ayqnz ^ v hnx-c-w- m-cpss klm-b-tømss sisshkn {]{Inb ]q Øn-bm- p-ibpw \nt ]w \S-Øp-Ibpw snøm-hp- -Xm-Wv. Hcp hn`mkw ^ v lukp-iƒ bpfn-sebpw Im\-U-bn-sebpw hntzi C y- m-cn \n pw \nt ]w kzoi-cn- p- Xv \n Øn-sh- n- p- v. Cu cmpy-ß-fn \ne- \n p \nt ]w kw_- n \nb- { -Wß-fmWv CXn\v Imc-Ww. AtX kabw a v Nne ^ v lukp-iƒ bpfn-sebpw Im\-U-bn-sebpw hntzi C y- m-cn \n pw Ct mgpw \nt ]w kzoicn- p- p v. sluvpv Hmlcn s^{_p-hcn

38 Ip n-i-fpss t]cn-ep \nt ]w: \nipxn _m[y-x Fßs\ IW- m mw? Ip n-i-fpss t]cn amxm-]n-xm- ƒ \nt ]w \S-Øp-tºmƒ AXn \n p t\ -Øn-\p \nipxn _m[y-xsbbpw \nt -]-Øn\v e`n- p \nipxn Hgn-hn-s\bpw Ipdn v a\-kn-em- n-bn-cn-t - -Xp- v. 38 sluvpv Hmlcn s^{_p-hcn 2017 ]e amxm-]n-xm- fpw {]mb-]q Øn-bm- ImØ Ip n-i-fpss t]cn ayqnz ^ p- I-fnepw ]n]n-f-^nepw _m v ^nivkuv sut m-kn- n-ep-sams \nt ]w \S-Ømdp- v. CØcw \nt -]-ß-fn \n v e`n- p ]en-ibpw em`-hn-ln-xhpw aqe[\ t\ -hp-sams c n-xm-hns hcp-am-\-øns\m w tn ØmWv \nipxn _m[yx IW- m-t - -Xv. F m Ip n-i-fpss t]cn \nt ]w XpS-ßn-b-Xp-sIm p am{xw c n- Xm-hn\v \nipxn _m[yx D m-i-w-sa- n-. am{x-hp-a-, Ip n-i-fpss t]cn SmIvkv tkhnwkv kvioap-i-fn-emwv \nt ]w \S- Øn-b-sX- n AXns t]cn-ep \nipxn Cfhv c n-xm-hn\v e`n- p-ibpw snøpw. BZm-b-\n-IpXn \nbaw sk 80 kn {]Imcw CIzn n en vuv tkhnwkvkv kvioan tem ]n]n-f-^ntem Ip n-i-fpss t]cn \nt ]w \S-Øp-I-bm-sW- n AXns t]cn-ep \nipxn Cfhv c n-xm-hn\v Ah- Im-i-s -Smw. AØcw \nt ]߃ c n- Xm-hns \nipxn hnt[b hcp-am-\-øn \n pw Ingn- -Xn\p tij-am-bn-cn pw \nip Xn _m[yx IW- m- p- -Xv. sk 80 kn {]Imcw Xs t]cnepw Ip n-i-fpss t]cnepw \S-Øn-bn- p 1.50 e w cq] hsc-bp \nt -]-Øn-\mWv \nipxn Hgnhv Ah-Im-i-s -Sm-hp- -Xv. Ip n-i-fpss t]cn-ep \nt -]-߃ v as mcp Xc-Øn-ep \nipxn Hgnhv IqSn Ah-Im-is -Sm-\m-Ipw. c n-xmhv Ip n-i-fpss t]cn \nipxn hnt[-b-amb \nt ]w \S-Øn-bn- p-s - n Hcp Ip nbpss t]cn-ep \nt -]-Øn\v e`n- p 1500 cq] hscbp ]en-i v \nipxn Cfhv e`n- p- - Xm-Wv. BZm-b-\n-IpXn \nbaw sk 10 (32) {]Im-c-amWv Cu \nipxn Cf-hv. DZm-lc-W-Øn\v Ip n-bpss t]cn \S-Øn-bn- p \nt -]-Øn \n pw h j-øn 5000 cq]-bmwv ]en-i-bmbn e`n- -sx- n 1500 cq] v \nipxn Cfhv t\smw. _m n 3500 cq] \nipxn hnt[b hcp-am-\-øn-s\m w tn -Ww. amxm-]n-xm- -fn c v t] pw \nipxn hnt[b hcp-am-\-ap-s - n AXn Db hcp-am-\-ap- -bm-fpss t]cnemwv Ip n-i-fpss t]cn-ep \nt -]- Øns ]eni tn t - -Xv. Ip n-iƒ kz w \ne-bn t\sp hcpam\w c n-xm-hns \nipxn hnt[b hcpam-\-øn-s\m w tn t - -Xn-. Snhn, kn \n-a, ImbnI C\-߃, a v Iem]cn-]m-Sn- Iƒ XpS-ßnbhbneqsS Ip n-iƒ v hcpam\w e`n- m-dp- v. Ip n-iƒ CØ-c- Øn kz w Ignthm A dnthm D]- tbm-kn v t\sp Snhn, kn\n-a, ImbnI C\-߃, a v Iem]cn-]m-Sn-Iƒ XpS-ßn bhbneqss Ip n-iƒ v hcpam\w e`n- m-dp- v. Ip n-iƒ CØ-c-Øn kz w Ignthm Adnthm D]-tbm-Kn v t\sp hcp-am-\w amxm-]n-xm- -fpss \nipxn hnt[b hcp-am-\-øn- Dƒs -Sp-tØ- -Xn-. hcp-am-\w c n-xm-hns \nipxn hnt[b hcp-am-\-øn- Dƒs -Sp-tØ- -Xn-. AXp-t]mse Nne {]txyi sshi-eyß-fp Ip n-i-fpss hcp-am-\-søbpw c n- Xm-hns \nipxn hnt[b hcp-am-\-øn-s\m w tn t - -Xn-. Ip n-i-fpss t]cn CIzn n en vuv tkhnwkvkv kviotam ]n]n-f-t^m t]mep SmIvkv tkhnwkv kvioap-i-fn-se \nt - ]-Øn \n p ]en-ibvt m aqe-[\ t\ -Ønt\m \nipxn \ ti n hcp- n-. ]n]n-f-^n \n p t\ w \nip-xn-ap- -am-wv. CIzn n en vuv tkhnwkvkv kvioan \n p t\ w \nt ]w \SØn 12 amk-øn\p tijw \n Ip-Xn-ap- am-wv. AtX kabw _m v ^nivkuv sut m-kn- n \n p ]eni v \nipxn \ ti- -Xp- v. Ip n v 18 h jw XnI- m Ip n-bpss hcp-am-\ sø c n-xm-hns \nipxn hnt[b hcp-am-\-øn-s\m w tn t - -Xn-. 18 hb kv ]q Øn-bmb hy nbpss \nipxn _m[yx {]txyiambmwv IW- m- p-i.

39 sluvpv Hmlcn s^{_p-hcn

40 Personal Finance sndp-ins kºmzy ] -Xn-I-fpsS ]en-i-\n-c- n am -an Ign aq v ss{xamk߃ nss sndp-ins kºmzy ] -Xn-I-fpsS ]eni \nc n 0.1 ix-am\w Ipdhv am{x-amwv hcp-øn-b-xv. 40 sluvpv Hmlcn s^{_p-hcn 2017 \ne-hn-ep \nc v Gsd am k-߃ XpS-cm-\nS-bn-. dnk hv _m v sdt m \nc v Xp S pw Ipdbv m\p km [yx Gsd-bm-Wv. Aßs\ kw`-hn- m ASpØ ss{xamk-ßfn sndp-ins kºmzy ] -Xn-I-fpsS ]eni \nc n Ipdhv hcp-øm k m \n _- n-x-am-ipw. P\p-hcn am v ss{xam-k-ønepw sndp- InS kºmzy ] -Xn-I-fpsS ]eni ]gb \nc- n XpS-cpw. CXv sndp-ins kºmzy ] -Xn-I-fn \nt -]n- p- -h v Bizmk-I-c-am-Wv. sndp-ins kºmzy ] -Xn-I-fpsS ]eni \nc v ti{µ-k m Ipd-bv mø Xp aqew _m v ^nivkuv sut m-kn- p-ifpambn Xmc-Xayw snøp-tºmƒ Ch-bpsS \nc v Db \ne-bn-em-wv. sndp-ins kºmzy ] -Xn-I-fpsS ]eni \nc v Hmtcm kmº-øni h j-ønepw ]p\ \n Æ-bn- p coxn-bn ti{µ-k m am w hcp-øn-bxv \S p kmº-øni h jw apx-em-wv. ]Icw ss{xamk ASnÿm-\-Øn k m IS- -{X-ß-fpsS bo Uns\ ASn-ÿm-\-am n ]eni \nc v ]p\ \n- Æ-bn- p-sa- mwv ti{µ-k m {]Jym-]n- n-cp- -Xv. F m B {]Jym- ]\Øns A -k-ø ]n p-s v k m IS- -{X-ß-fpsS t\ -\n-c- n-ep- mb CSn-hn\v A\p-k-cn v sndp-ins kºmzy ] -Xn-I-fpsS ]eni \nc v Ipd-bv m k m Xømdm-bn- n-. Ign aq v ss{xamk߃ nss sndp-ins kºmzy ] -Xn-I-fpsS ]eni \nc n 0.1 ix-am\w Ipdhv am{x-amwv hcp-øn-b-xv. Pqsse sk-]v -_ ss{xam-k- Ønse ]eni \nc- n am w hcp-øm-xncp ti{µk m HIvtSm-_ - -Un-kw-_ ss{xam-k-øn \nc v 0.1 ix-am\w Ipd- p. P\p-hcn am v ss{xam-k-øn \nc- n am w hcp-øn-bn-. AtX-k-abw C me-b-f-hn 10 h jsø k m IS- -{Xß-fpsS t\ -\n-c- n i-x-am-\tømfw CSn-hmWv D m-b-xv ix-am-\-amwv \nehn-ep bo Uv. F m Ign G{]nen 8.1 ix-am-\-am-bn-cp ]n]n-f-^ns ]en-i-\n-c v Ct mƒ 8 ix-am-\-am-wv. k m IS- -{X-ß-fpsS bo Upw sndp-ins kºmzy ] -Xn-I-fpsS ]eni \nc pw XΩn-ep A cw 0.25 ix-am-\- am-bn-cn- p-sa {]Jym-]-\w ]men- -s - n-. \ne-hn Inkm hnimkv ]{X-bpsS ]eni \nc pw k m IS- -{X-ß-fpsS bo Upw XΩn-ep A cw GI-tZiw 1.30 ix-am-\-am-wv. ]n]n-f-^n \n pw e`n- p ]en-i-\n-c v F v ixam\ambpw kpi\y kar n tbmp\bpss ]en-i-\n-c v 8.5 ix-am-\ambpw XpS-cpw. Inkm hnimkv ]{X-bpsS ]en-i-\n-c v 7.7 ix-am-\am-wv. Inkm hnimkv ]{X-bpsS \nt ] Ime-b-fhv 112 amk-amwv. ko\n-b kn n-k tk hnwkvkv kvioans ]en-i-\n-c v 8.5 ix-am-\-am bpw XpScpw. Hcp h jw apx A v h jw hscbp tsw sut m-kn- p-i-fpss ]en-i-\n-c v Ggv ix-am\w apx 7.8 ix-am\w hscbm-wv. sndp-ins \nt -]-I-cpsS Xm -cy-ß ƒ IW- n-se-sp-ømwv k m IS- -{Xß-fpsS bo Un-ep- mb CSn-hn\v B\p- ]mxni-ambn sndp-ins kºmzy ] -Xn-IfpsS ]eni \nc v Ipd-bv m k m Xbm-dm-Im-Ø-Xv. ]eni \nc v IpØs\ Ipd- m cmjvso-b-amb Xncn- Sn t\cn-ts- nh-cp-sa Bi- bpw Cu Ab \ne- ]m-sn\v ]n nep v. AtX kabw ]en-i-\n-c v Ipd-bp- - XmWv amkß-fm-bp {]Xn-`m-k-sa- ncns AXn\v A\p-k-cn p t\ ta sndp- InS kºmzy ] -Xn-I-ƒ t]mep ÿnc- \n-t ] am K-ß-fn \n pw `mhn-bn {]Xo- n- m-\m-iq-. \ne-hn-ep \nc v G sd amk-߃ XpS-cm-\nS-bn-. dnk hv _m v sdt m \nc v (hm-wnpy _m p-iƒ v dnk hv _m v \ Ip {lkz-ime hmbv]- bpss ]eni \nc v) XpS pw Ipdbv m \p km[yx Gsd-bm-Wv. Aßs\ kw`hn- m ASpØ ss{xam-k-ßfn sndp- InS kºmzy ] -Xn- I-fpsS ]eni \nc n Ip dhv hcpøm k m \n _- n-xam-ipw.

41 2016 G{]n-en\v apºv `h-\-hmbv] FSp-Ø-h t_kv td ns ASn-ÿm-\-Ønep -\n-c n XpS m ]eni C\-Ønep snehv IqSp-X-em-bn-cn- pw. `h\-hmbv] FSp- p- -h v Bizmkw ]I p-sim- mwv ]pxp-h- -c-øns XpS- w. `h-\-hm-bv]-i-fpss ]en-i-\n-c- v Nne _m p-iƒ KWy-ambmWv sh n- p-d- -Xv ix-am\w apx 0.65 ix-am\w hsc \nc- n Ipd-hp- m-bn. cmpysø G hpw henb hmwnpy _m mb Fkv_nsF 75 e w cq]- hsc-bp `h-\-hm-bv]-bpss ]en-i-\n-c- v kv{xoiƒ v 8.60 ix-am-\-ambpw a p- -h v 8.65 ixam-\-ambpw Ipd- p. 30 e w cq] hsc hm bv]-sb-sp- p- -h v c v h j-tø v am - an- mø ]en-i-\n-c- n hmbv]-sb-sp- m- \p kvioap-ap- v. kv{xoiƒ v 8.50 ixam-\-hpw a p- -h v 8.55 ix-am-\-hpamwv Cu kvioanse ]en-i-\n-c- v. sfkn-sf-knsf _m v 9.10 ix-am-\- Øn \n pw 8.65 ix-am-\-ambn \nc v Ipd- t mƒ F vun-f-^vkn-bpss ]en-i-\n-c v 8.7 ix-am-\-am-wv. ]eni \nc v \n Æ-bn- p- -Xn\v am Pn- \ timãv Hm^v ^ v t_kvuv se nßv td vkv (Fw-kn-F -B ) F am\-zwvuamwv _m p-iƒ Ign G{]n apx kzoi-cn p hcp- -Xv. F m Fwkn-F - B F Xv `h-\-hm-bv]-bpss bym \nc- -. Fkv_n-sF-bpsS Fwkn-F -B 8 ix-am-\-am-wv. Hcp h jsø `h-\-hm-bv]- bpss kvs{]uv 0.65 ix-am-\-am-bn-cn-s `h- \-hm-bv]-bpss ]en-i-\n-c v 8.65 ix-am-\- ambn Db-cpw G{]n-en\v apºv hmbv]-sb-sp-øh v \nc v Ipd-bv p- -Xns B\p-Iqeyw ]q W-ambn e`n- p- n G{]n-en\v apºpw 2010 Pqsse p tij-hp-ambn hmbv]- sb-sp-ø-h-cpss ]en-i-\n-c v IW- m- p- Xv t_kv td ns ASn-ÿm-\-Øn-em-Wv. Fkv_n-sF-bpsS t_kv td ns ASn-ÿm- \-Ønep ]en-i-\n-c v \ne-hn 9.5 ixam\amwv. \ne-hn- hnhn[ _m p-i-fpss Fwkn-F Bdn s ASn-ÿm-\-Øn-ep ]eni \nc pw t_kv td ns ASn-ÿm-\-Ønep -]eni\n-c pw XΩn Hcp ix-am\w apx 1.25 ix-am\w hsc hyxym-k- -ap- v. AXn-\m t_kv td n \n pw Fwkn-F Bdnte v amdp- Xv ]eni-c\-øn-ep snehv Ipd-bv m klm-b-i-am- Ipw. t_kv td ns ASn-ÿm-\-Ønep - \n-c n XpS m ]eni C\-Ønep snehv IqSp-X-em-bn-cn- pw. t_kv td n \n pw Fw-kn-F -Bdnte v amdp- -Xn\v _m p-iƒ \n nx ^okv CuSm- p- p- v. AS- p-xo m _m n-bp hmbv]m XpIbpsS 0.5 ix-am-\hpw \nip-xn-bp-amwv CuSm- p- -Xv. DZm-l-c-W-Øn\v 20 e w cq]-bmwv AS- p-xo m _m n-bp hmbv]m XpI- \ne-hn- hnhn[ _m p-i-fp ss Fwkn-F Bdns ASnÿm\-Øn-ep ]eni \nc pw t_kv td ns ASnÿm-\-Ønep -]eni\n-c pw XΩn Hcp ix-am\w apx 1.25 ix-am\w hsc hyxym-k- -ap- v. Fwkn-F B dnte v amdp- Xv ]en-i- C\- Øn-ep snehv Ipd-bv m klm-b-i-am-ipw. sb n GI-tZiw 10,000 cq]bpw \nip- Xnbpw ^okmbn \ I-Ww. Fw-kn-F - Bdnte v amdn-bm Hcp h j-tø v \nc- n am -ap- m-in-. Fwkn-F Bdns ASn-ÿm-\-Øn-ep \nc pw t_kv td ns ASn-ÿm-\-Ønep -\n-c pw XΩn Hcp ix-am\w apx 1.25 ix-am\w hsc A cw \ne-\n s AS- p-xo m _m n-bp hmbv]m XpI-bpsS 0.5 ixam\w \nip-xn-bmbn \ In-bmepw Fwkn- F Bdns ASn-ÿm-\-Øn-ep \nc n te v amdp- -XmWv em`-i-cw. \ne-hn Fwkn-F -B-dns ASn-ÿm- \-Øn hmbv]-sb-sp-ø-h v \nc v B\p- Iqeyw e`n- -W-sa- n C\nbpw amk-߃ ImØn-cn- -Ww. ]pxnb N - q-sv A-\p-kcn v hmbv]m \nc v Hcp \n nx Imeb-fhnte v ÿnc-am-bn-cn- psa -XmWv Imc- Ww G{]nen hmbv]-sb-spø HcmfpsS ]eni \nc v ASpØ Hcp h jtø v \n nx \nc- n-em-bn-cn- pw. _m v Ct mƒ \nc v Ipd- Xns {]tbm-p\w AØcw D]-t`m- m- ƒ v e`n- n G{]n H v apx At mƒ \ne-hn-ep \nc- m-bn-cn pw e`n- p- -Xv. AtX- k-abw ]pxnb D]-t`m- m- ƒ v Ct mƒ Ipd \nc- n hmbv] e`n- p- -Xn\v Ah-k-cap- m-ipw. sluvpv Hmlcn s^{_p-hcn

42 Personal Finance Db s{iun v kvtimdp h v Xmgv ]eni \nc- n `h\ hmbv] e`y-am- p _m v Hm^v _tdmubpss ]pxnb kviow hnhn[ _m p-i-fpss hmbv]m \nc v C\nbpw Ipd-bp- -Xn\v hgn-sh-t - pw. -D-b s{iun v td p- -h v Xmgv td n hmbv] s{iun v td nwkns\ ASn-ÿm-\-am n `h\ hmbv]-bpss CFwsF IW- m- p ]pxnb coxn v _m p-iƒ XpS- -an-sp- p. _m v Hm^v _tdm-u-bmwv Cu ]pxnb coxn BZy-ambn Ah-X-cn- n- -Xv. a v _m p- Ifpw Cu coxn ]n p-s-cp-sa- mwv {]Xo- n- p- -Xv. s{iun v C ^ ta-j _yqtdm (kn- _n ) \ Ip s{iun v kvtimdns ASnÿm-\-Øn-emWv _m v Hm^v _tdmu CFwsF \n -bn- p- -Xv. 759 t]mbn n\v api-fn s{iun v kvtimdp- -h v 8.35 ix-am\w ]eni \nc- n hmbv] \ Ip ]pxnb kvioamwv _m v Hm^v _tdm U Bcw-`n- -Xv. 725\pw 759\pw CS-bn s{iun- v kvtim dp- -h v 8.85 ix-am\w \nc- n-em-bncn pw hmbv] e`n- p- -Xv. 724 t]mbn n\v Xmsg-bp- -h v ]en-i-\nc v 9.35 ixam\w Bbn-cn- pw. GsX- nepw s{iun v C ^ ta-j _yqtdm-bn s{iun v ln Ãdn tcj-s -Sp-Ø-s - n n- m-øh BZyambn hmbv] FSp- p-tºmƒ ]en-i-\n-c v 8.85 ix-am-\-am-bn-cn- pw. hmbv]-bpss Ime-b-fhpw hmbv]m XpI bpw F{X-bm-bn-cp- mepw CtX \nc- m-bncn pw CuSm- p- -Xv. _m v Hm^v _tdm U {]Jym-]n 8.35 ix-am\w ]en-i-\n-c v 42 sluvpv Hmlcn s^{_p-hcn 2017 \ne-hn-ep G hpw Xmgv `h\ hmbv]m \nc- m-wv. Db td nw-kp D]-t`m- m- ƒ v Xmgv td n hmbv] \ Ip coxn-bmwv _m v Hm^v _tdmu Bcw-`n- n-cn- p- -Xv. _m v Hm^v _tdm-u-bpss am Pn-\ timãv Hm^v ^ v t_kvuv se nßv td vkv (Fw-kn-F -B ) 8.35 ix-am-\-am- Wv. G hpw ani s{iun v kvtimdp- h v CtX \nc- n-emwv hmbv] \ Ip- -Xv. ani D]-t`m- m- ƒ v Fwkn-F - Bdn\v kvs{]uv G s -Sp-ØmsX hmbv] kn_n \ Ip s{iun v kvtimdns ASn-ÿm-\-ØnemWv _m v Hm^v _tdmu CFwsF \n -bn- p- -Xv. 760 t]mbn n\v api-fn s{iun v kvtimdp- -h v 8.35 ix-am\w ]eni \nc- n hmbv] \ Ip ]pxnb kvioamwv _m v Hm^v _tdm U Bcw-`n- -Xv. \ IpIbmWv snøp- -Xv. AtX kabw Fkv_n-sF-bpsS Fwkn-F -B 8 ixam-\-am-sw nepw Hcp h jsø `h-\-hmbv]-bpss kvs{]uv 0.65 ix-am-\-am-bn-cn-s `h-\-hm-bv]-bpss ]en-i-\n-c v 8.65 ixam-\-ambn Db-cpw. D]-t`m- m- mƒ v 300 \pw 900\pw CSbn-ep s{iun v kvtimdmwv s{iun v C ^ ta-j _yqtdm-iƒ \ Ip- -Xv. Db s{iun v kvtim hy n-i-fpss hmbv]m tbmkyx sa -s -Sp-Øp- p. `qcn- `mkw hmbv]-ifpw A\p-h-Zn- -s -Sp- Xv 750\v api-fn s{iun v kvtimdp- h mwv. CXn Xmsg kvtimdp- -hcn \n pw Db \nc v CuSm- p-i-bmwv ]pxnb kvioan _m v Hm^v _tdmu snøp- -Xv. _m p-i-fn \n pw [\-Im-cy ÿm]- \-ß-fn \n pw tij-cn- p hy n-ifpss ap Ime hmbv] kw_- n hnh-c߃, hmbv]-i-fpss Xncn- -Shv kw_- n hni-zmw-i-߃ Ch-sb mw ]cn-k-wn- mwv s{iun v _yqtdm-iƒ s{iun v lnãdn X bm-dm p- Xv. `h-\-hm-bv], hml\ hmbv], hy n-kx hmbv], s{iun v Im Uv hmbv] XpS-ßnb F m Xcw hmbv]-i-fp-ssbpw hni- Zmw-i-߃ s{iun v _yqtdm-iƒ tij-cn- p- p- v. CØcw hni-zmw-i-ß-sf mw Dƒs

43 hmbv]m Ncn-{X-Øns ASn-ÿm-\-ØnemWv s{iun v _yqtdm-iƒ s{iun v kvtim \n W-bn- p- -Xv. s{iun v kvtimdns ASn-ÿm-\-Øn ]en-i-\n-c v \n W-bn- p hmbv]m kvioap-iƒ v At]- n- p- -Xn\p apºv D]-t`m- m- ƒ Xß-fpsS s{iun- v kvtimdns\ Ipdn v a\-kn-em- n-bn-cn- - Ww. Ct mƒ s{iun v kvtim Dƒs -ssbp s{iun v dnt m v kup-\y-ambn e`n- p- -Xn\v Ah-k-c-ap- v. h j-øn-sem-cn- F m D]-t`m- m- ƒ pw kup-\y-ambn UnPn cq]-øn s{iun v dnt m v \n _- -ambpw e`yam- -W-sa v dnk hv _m v Hm^v C y cmpysø F m s{iun v C ^ ta-j Iº-\n-Iƒ pw \n t±iw \ Inbn p- v. Cu h jw P\p-hcn H v apx-emwv kup \y s{iun v dnt m v tkh\w \ne-hn h- -Xv. GI-tZiw 40 -timsn P\-߃ mwv kup\y s{iun v dnt m v tkh\w e`yam-ip-i. hmbv]m km -cx h [n n p- - Xn\v CXv klm-b-i- -am-ipw. H n-tesd s{i Un v _yqtdm-i-fn \n pw s{iun v dnt m v e`y-am-ip- -Xn\pw Ah XΩn Xmc-Xayw snøp- -Xn\pw D]- t`m- m ƒ v Ah-kcw e`n- pw. \ne-hn- \n nx XpI CuSm n-bmwv s{iun v _yqtdm-i ƒ s{iun v dnt m p-iƒ \ Ip- - Xv. DZm-l-c-W-Øn \v s{iun v C ^ ta-j _yq tdm Hm^v C y enan- Un (kn-_n ) \n pw s{iun v dn t m v e`n- p -Xn\v 550 cq]- bmwv CuSm- p- -Xv. CXv \ Im sx Xs kºq W-amb s{iun v dn t m v h j-øn-semcn- kup-\y-ambn e`n- m-\p kui-cy-am Wv D]-t`m- m- ƒ v e`n- n-cn- p- -Xv. kºq W s{iun v dnt m n s{iun v kvtimdpw hmbv]m Ncn{Xw kw_- n a p hnh-cß-fp-ap- m-ipw. kup\y kºq W s{iun v dnt m v Fßs\ e`yam mw? \ne-hn kn_n, FIvkv]o-cn-b, CIzn-^mIvkv F o aq v s{iun v C ^ \ne-hn kn_n, FIvkv]ocn-b, CIzn-^mIvkv F o aq v s{iun v C ^ ta-j _yqtdmifn GsX- n-ep-sam- n \n pw kup\y kºq W s{iun v dnt m v e`y-am- Wv. P\p-h-cn pw Unkw-_-dn- \p-an-s-bn Hcp XhW kup \y kºq W s{iun v dnt m n\v At]- n- mw. ta-j _yqtdmifn GsX- n-ep-sam- n \n pw kup\y kºq W s{iun v dnt m v e`y-am-wv. P\p-h-cn pw Unkw- _-dn-\p-an-s-bn Hcp XhW kup\y kºq W s{iun v dnt m n\v At]- n- mw. kn_n-en \n pw kup\y kºq W s{iun v dnt m v e`n- p- -Xn\v sh_v ssk- n \n pw At] m t^mdw Uu temuv snbvxv ]qcn- n v \n nx hnemk-øn-te v Ab- p-i-bmwv sntø- -Xv. F sh_vssk n \n pamwv At] m t^mdw Uu temuv sntø -Xv. ]qcn- n At] m t^mdtøm-ssm w Bh-iyamb tcj-i-fpss tim n-ifpw Ab- n-cn- -Ww. At]- mt^mdw e`n- -Xns cioxpw as -s - nepw hnh-c-߃ Bh-iy-ap-s - n A mcyhpw Adn-bn- p-sim v kn_nen \n pw C -sa-bn e`n- pw. 30 Znh-k-Øn\p n \n߃ v s{iun v dnt m v e`yam-ip-ibpw snøpw. FIvkv]o-cn-b-\n \n pw kup\y kºq W s{iun v dnt m v sh_vssk- v hgn e`n- p- -Xm-Wv. CXn-\mbn FIvkv]ocn-b-\ns sh_vssk- v kµ in- v t]cv, samss_ \º, ]m \º, C -sa-bn, P\-\ -Xo-bXn F nh \ I-Ww. 48 awn- q-dn-\p- n Hcp hu timuv C -sabn-en e`n- pw. AXns\m w C -sa-bnen e`n en n n v snbvxv Bhiy-s -Sp Nne hnh-c-߃ IqSn \ I- Ww. ho pw Hcp en v IqSn shcn-^n-t j\p th n Ab- p- -Xm-bn-cn- pw. Cu en n n v snbvxv t\csø e`n hu timuv sss v snbvxm kup\y kºq W s{iun v dnt m v e`y-am-ipw. CXns tim n C -sa-bn-en e`n- p-ibpw snøpw. CIzn-^mIvkns samss_ Bπnt -j hgn-bmwv kup\y kºq W s{iun v dnt m n\v At]- n-t - -Xv. KqKvƒ tπ tãmdn \nt m sfh-fkv B]v tãmdn \nt m samss_ Bπnt -j Uu temuv snømw. B]v Uu temuv snbvx-xn\p tijw C -sabn hnemkw \ Ip-Ibpw Bd ]n D m p-ibpw thww. CXn\p tijw hy n-kx hnh-c-ßfpw B[m \ºcpw \ ti- -Xp- v. 12 awn- q-dn-\p- n B n IS v t]gvk-w tem, s{iun v Im Uv XpSßnbh kw_- n ÿnco-icww \ Imw. AXn\p tijw 12 awn- qdn-\p- n s{iun v dnt m v C -sa-bn-en e`y-am-ipw. sluvpv Hmlcn s^{_p-hcn

44 Personal Finance sndp- - m v {]txyi tkhnwkvkv A u v Xpdbv mw {]txyi su_n v Im Uv, kotdm an\naw _me kv As - n Npcp-ßnb an\naw _me kv F n-ßs\bp khn-ti-j-x-i-tfm-ss-bmwv _m p-iƒ bqøv tkhnwkvkv A u- p-iƒ cq]-s -Sp-Øn-bn-cn- p- -Xv. t\m v ac-hn- n- -en\p tijw tkhnw Kvkv _m v A u- p-iƒ Hgn- p-iq-sm-\m- Im-Ø-Xmbn Xo n-cn- p- p. D]-t`m- m- ƒ v A\p-k-cn v ]e Xcw tkhnwkvkv _m v A u- p-ifp v. 18 apx 35 hb kv hsc {]mb-ap bphm- ƒ v {]txyi A u- p-iƒ Xpd-bv m hnhn[ _m p- Iƒ Ahkc-sam-cp- n-bn- p- v. C-Øcw A u- p-iƒ Xpd-bv p- - Xn\v _m v \n tz-in- p {]mb-\n-jvi jbp- v. DZm-l-c-W-Øn\v kuøv C y _m ns bqøv πkv tkhnwkvkv A u v XpS-ßm Ipd {]mbw 20 hb-km-wv. AXp-t]mse ]cam-h[n {]m 44 sluvpv Hmlcn s^{_p-hcn 2017 bw 35 hb-km-wv. AtX kabw Fkv_nsF-bn ]c-am-h[n {]mbw 30Dw BIvknkv _m n 25Dw BWv. A u v Xpd-bv p- -Xn\v am{xta Cu {]mb-]-cn-[n-bp- q. Cu {]mb-]-cn[n adn-i-s- mepw A u v kpoh-ambn XpS-cpw. {]txyi su_n v Im Uv, kotdm an\n aw _me kv As - n Npcp-ßnb an\n aw _me kv F n-ßs\ hnhn[ khnti-j-x-i-tfm-ss-bmwv bphxobphm- ƒ p A u- p-iƒ _m p-iƒ cq]-s - Sp-Øn-bn-cn- p- -Xv. sfun_nsf _m ns _omv an, ku Øv C y _m ns bqøv πkv F o A u- p-i-sf-sp-ø hnzym n-iƒ v B _m p-i-fn s{]mpivsv h v snøm Ah-kcw e`n- pw. Xan-gv\mSv sa I -bn _m v CØcw A u v FSp- p- -h v Hcp e w cq]-bpss t]gvk-w B Ivkn-U v C jpd kv Ih A \p-h-zn- p- p- v. sfun_nsf _m v _omv an tkhnwkvkv A u v DS-a-Iƒ hnzym-`ymk hm bv] FSp- p-tºm ƒ {]txyi ]en i \nc v A\p-h- Zn- p- p. BIv knkv _m v bq Øv tkhnwkvkv A u v DS-a- Iƒ v {]txyi samss_ Bπnt -j Hcp- nbn- p- v. Cu sam ss_ Bπn-t j D]-tbm-Kn v A u v _me kv ]cn-tim-[n- m\pw ^ v {Sm kv^ snøm \pw samss_ t^m donm Pv snøm\pw km[n- CØcw {]txyi tkhnwkvkv A u- p-iƒ BI j-iambn txm m-sa- nepw Nne _m p-iƒ A[nI Nm Pp- Iƒ CuSm- p- p- v. AtX kabw Nne _m p-iƒ CØcw A u- p-i-fn Db ]en-i-\n-c v \ Ip- Ibpw a v Cf-hp-Iƒ A\ph-Zn- p-ibpw snøp- p. pw. bqøv tkhnwkvkv A u v DS-a- Iƒ Uoam- v, t{sunwkv A u- p-iƒ Xpdbv p- -Xn\v Nm Pp-Iƒ CuSm- p- n-. BZy-amkw an\naw _me kv \ne-\n Ønbn-s - n ]ng CuSm- p-i-bp-an-. Fkv_nsF 20 sn v eo^p-iƒ am{xamwv kup-\y-ambn A\p-h-Zn- p- -Xv. AtX kabw a v _m p-iƒ Hcp h jw sn p-iƒ kup-\y-ambn A\p-h-Zn- p- p- v. BIvknkv _m ns bqøv tkhnwkvkv A u- n BUv- -Hm su_n v Im Up-Iƒ A\p-h-Zn- p- n-. CØcw {]txyi tkhnwkvkv A u- p-iƒ BI j-i-ambn txm m-sa- nepw Nne _m p-iƒ {]txyi Nm Pp-Iƒ CuSm- p- p- v. DZm-l-c-WØn\v BIvknkv _m ns bqøv tkhnwkvkv A u- n A\p-h-Zn- p su_n v Im Un-\p hm jni ^okv 400 cq]-bm-wv. BIvknkv _m ns km[m-cw tkhnwkvkv A u- p-i-fnse su_n v Im Un\v 150 cq] am{xta hm jni ^okp q. Nne _m p-iƒ CØcw A u- p-ifn Db ]en-i-\n-c v \ Ip- p- v. DZm-l-c-W-Øn\v Un_n-Fkv _m ns UnPn -tk-hnwkvkv A u- n\pw tim v _m ns Pn^n \ntbm A u- n\pw 6 7 ix-am\w hm jni ]eni \ Ip- p- v. Cu A u- p-i-fnse su_n v Im Up- Iƒ v Db ] t kv enan pw Xmgv hm jni ^okpamwp -Xv.

45 \n߃ p v Nne kmº-øni Ah-Im-i-߃ C jp-d kv, ayqnz ^ v, hmbv], su_n- v- -s{i-un v Im Uv XpS-ßnb [\-Imcy D - -ß-fp-ambn _ -s CS-]m-Sp-I-fn D]-t`m- m-hn\v ASn-ÿm-\-]-c-amb Nne Ah-Im-i-ß-fp- v. \nt ]-I pw \nip-xn-zm-bi pw Ah-cp-tS-Xmb Nne Ah-Im-i-ß-fp- v. ]et mgpw CXns\ Ipdn v an -hcpw t_m[- hm- m-c-. C jp-d kv t]mfn-kn-ifpw ayqnz ^ v kvioap-ifpw hmßp-tºmƒ hnx-c-w- m-c\v F{X IΩn-j e`n- p- p-sh v Adn-bm \n߃ v Ah-Im-i-ap- v. ayqnz ^ v Iº\n hnx-c-w- m-c\v \ Ip IΩn-js\ ] n-bp hnhcw \nt -]-I\v e`n- p A u v tã vsa n-ep- m-ipw. C jp-d kv D - -ß-fpsS Imcy-Øn hnx-c-w- m-cs IΩn-j t]mfnkn {]oan-bsø B{i-bn- n-cn- p- p. \n߃ v t]mfnkn hn p- -Xn\v apºv IΩn-j kw_- n hnh-c߃ hnx-c-w- m-c shfn-s -Sp-tØ- -Xp- v. bqwn v en vuv C jp-d kv t]mfnkn (bp-en-]v)-i-fpss s{]mt m-k t^man Xs IΩn-j kw_- n- p hnh-c߃ \ Im-dp- v. C jp-d kv t]mfn-kn-bpss GsX nepw hyh-ÿ-bntem khn-ti-j-x-bntem Xr]vX-\-s - n t]mfnkn DS-abv v t]mfn kn tcj kzoi-cn- -Xn\p tijw 15 Znh-k- Øn-\Iw t]mfnkn d±m- m km[n- pw. {^o -ep v ]ocn-buv F mwv Cu 15 ZnhksØ hnti-jn- n- p- -Xv. 15 Znh-k-Øn- \p- n t]mfnkn tcj hni-z-ambn hmbn- - Xn\p tijw t]mfnkn DS-abv v Hcp Xocpam-\-Øn-se-Ømw. t]mfnkn d±m- p-i-bm-sw- n AS apgp-h {]oan-bhpw DS-abv v XncnsI e`n- pw. {^n ep v ]nco-b-un t]mfnkn d±m- p- -Xn-\mbn \n nx t^md- Øn ({^o ep v dnizãv t^mw) t]mfnkn DSa At] \ Ip-I-bmWv sntø- -Xv. t]mfnkn d±m- p- -Xn-\p ImcWw t_m[n- n- n-cn- -Ww. _m n \n v hmbv] FSp-Ø-h A{]- Xo- n-x-amb Imc-W-ß-fm CFwsF Xncn- -S-bv p- -Xn hogvn hcp-øp- Xv Akm- [m-c-w-a-. BZyw _mt m [\-Imcy ÿm]-\-tam 60 ZnhksØ t\m okv ]ocn-buv \ Ip-I-bmWv snøp- -Xv. Cu 60 Znh-k-Øn-\nsS \nß-fpss {]Xn-Iqe kml-n-cysø Ipdn v _ -s _m v Hm^o-k am sc [cn- n- m-hp- - Xm-Wv. C me-b-f hn _m ns tbm [\-Imcy ÿm]-\- Øn-s tbm dn -hdn GP n\v \nßsf ]oun- n- m bmsxmcp AhIm i-hp-an-. cmhnse Ggn\pw ssh Ip-t cw Ggn-\p-an-S-bn am{xta \nßsf t^mwn _ -s -Sm ]msp- q. dn -hdn GP v \nßsf ]oun- n- p coxn-bn kwkm-cn- p-i-bm-sw- n _m ns\ kao-]n- m\pw F^v-sF-B ^b snøm\pw Ah-Im-i-ap- v. \nß-fpss su_n v Im tum s{iun v Im tum Zpcp-]-tbmKw snbvxv Bsc- nepw BZm-b-\n-IpXn dnt ^b snbvx-xn\p tijw 90 Znh-k-Øn-\p- n do^- v e`n- n-s - n Ak-knwKv Hm^oksd kao-]n- p-itbm sh_v ssk v hgn ]cmxn \ Ip- Itbm snøm-hp- -Xm-Wv. do ^ v sshinbm {]Xn-am kw do ^ v XpI-bpsS 0.5 ix-am\w ]en-i-bmbn e`n- m Ah-Im-i-ap- v. ]W-an-S-]mSv \S-Øn-bm kmº-øni \jvsw kln-t _m[yx \n߃ n-. CØcw CS-]m-Sp-Iƒ \S- m DSs\ _m ns\ Adn-bn- n-cn- -Ww. XpS p Zpcp-]-tbmKw Hgn-hm- m Im Uv tªm v snøm-hp- -Xm-Wv. BZm-b-\n-IpXn dnt ^b snbvxv 90 Znh-k-Øn-\p- n do^- p-s - n AXv e`n- m \n߃ v Ah-Im-i-ap- v. do^ v sship-i-bm-sw- n {]Xn-amkw do ^ v XpI-bpsS 0.5 ix-am\w ]en-ibmbn e`n- m Ah-Im-i-ap- v. 90 Znh-k- Øn-\p- n do^- v e`n- n-s - n AkknwKv Hm^o-ksd kao-]n- p-itbm BZmb-\n-IpXn hip- ns sh_vssk v hgn ]cmxn \ Ip-Itbm snøm-hp- -Xm-Wv. Hcp ayqnz ^ ns \nt ] LS\- bn Fs - nepw am -ap- m-ip-i-bm-sw- n AXv \nt -]Is\ Adn-bn- n-cn- - Ww. am w \ne-hn hcp- -Xn\v apºv F Ivkn v temuv \ ImsX ^ n \n pw \nt ]w ]n h-en- m-hp- -Xm-Wv. sluvpv Hmlcn s^{_p-hcn

46 Insurance ho -Ω-amcpsS t]cn tsw t]mfnkn FSp-t - -Xpt m? ho -Ω-bmb `mcy-bpss t]cn ` Ømhv sse^v C jp-d kv t]mfnkn FSp p Xv hnc-f-am-wv. ho -Ω-am hcp-am\w D m- p- n-s - Xpw kmº-øn-i-ambn Ahsc B{i-bn- a v IpSpw-_mw-K-߃ Pohn- p- -sx- -Xp-amWv Imc-Ww. \nßsf B{i-bn v Pohn- p- -h-cpss `m hn \nß-fpss A`m-h-Ønepw kpc- n-x-am- p- -Xn-\mbn sse^v C jpd kv t]m fnkn FSp-t - Xv kmº-øni Bkq-{X- W-Øns `mkam-wv. t]mfnkn FSp- p- - Xp-sIm v am{xw Xocp- -X t]mfnkn DSa-bpsS DØ-c-hm-Zn-Øw. axn-bmb IhtdPv Dd- p-h-cp-øn-bn- p-t m-sb pw AXv axn-bm b Ime-b-f-hn-te- m-twm-sb- p-sams ]cntim-[n-t - Xp v. C jp-d kv t]mfnkn FSp- p-tºmƒ {i n-t ASn-ÿm-\-]- c-amb Imcy-ßsf Ipdn- mwv Xmsg ]d-bp- -Xv. sse^v C jp-d kn-\mbn FSp-t - Xv tsw t]mfn-kn-i-fm-sw pw \nt ]w 46 sluvpv Hmlcn s^{_p-hcn 2017 IqSn Dƒs -Sp-Øn-bp t]mfn-kn-i-f-s pw sluvpv Hml-cn-bpsS ap e -ß-fnse tej-\-ß-fn hn-i-zo-i-cn n- p- -Xm-Wv. F m tsw t]mfnkn FSp-ØXp sim p am{x-am-bn-. AXv e y-ß-fp-ambn axnbmb coxn-bn _ n- n- n- p-t m-sb v IqSn t\mt - -Xp- v. Hcmƒ tpmen snøp- Ibpw hcp-am\w D m- p-ibpw snøp Ime-b-fhv F{X-bmtWm B Ime-b-f-hm-bncn- Ww tsw t]mfn-kn-bp-ssbpw Ime-b-f-hv. km[m-cw \ne-bn ho -Ω-bmb `mcybpss t]cn ` Ømhv sse^v C jp-d kv t]mfnkn FSp- p- Xv hnc-f-am-wv. ho - Ω-Iƒ hcp-am\w D m- p- n-s - Xpw kmº-øn-i-ambn Ahsc B {i-bn- a v IpSpw-_mw-K-߃ Pohn- p- -sx- -Xp-amWv Imc-Ww. F m ho -Ω-am-cp ss `h-\-øn- \-IsØ {]h Ø-\-߃ v Hcp kmº-øni aqeyap-s - Xv Ah-K-Wn- m- \m-in-. AXp-sIm- p-xs Ah-cpsS A`m-h-Øn hosv ssiimcyw sn øp- -Xn\pw Ip n-isf ]cn-]m-en- p- -Xn-\p-ap snehv IW- n-se- Sp-t - -Xp- v. AXn-\m `mcy-bpss t]cn sse^v C jpd kv t]mfnkn FSp- p- Xv kmº-øni Bkq-{X-WsØ IqSp-X i n-s -Sp- Øpw. tpmen snøp Zº-Xn-I-fpsS Imcy-Ønepw sse^v C jp-d kv Bh-iy-am-tWm-sb kwi bw Db-cm-hp- -Xm-Wv. tpmen snøp `mcybpw ` Ømhpw kmº-øn-i-ambn ]c-kv]cw B{i-bn- Pohn- p- sx- -XmWv Im c-ww. F m Po hnx ] m-fn-ifn Hcm- tpmen snøp Zº-Xn-I-fpsS Imcy-Ønepw sse^v C jpd kv Bh-iy-am-tWm-sb kwibw Db-cm-hp- -Xm-Wv. tpmen snøp `mcybpw ` Ømhpw kmº-øn-i-ambn ]ckv]cw B{i-bn- Pohn- p- -sx- -Xn\m tsw t]mfn-kn bpss Bh-iy-an-s v ]ecpw Icp-Xm-dp- v. ƒ ac-w-a-s-bp-i-bm-sw- n hcp-am\w Ipdbp- Xp aqew at -bmƒ v PohnX \ne-hmcw \ne-\n ØpI ZpjvI-c-am-Ipw. `h\ hmbv] t]mep hmbv]-iƒ Ccp-hcpw kwbp- - ambn FSp-Øn- p-s - n AXns Xncn- - Shv _m[y-x-bmbn amdpw. AXn-\m `mcybpw ` Ømhpw tpmen snøp hcmbmepw Ccp-h pw axn-bmb C jp-d kv ]cn-c Bh-iy-am-Wv. hmbv]-i-fpss Xncn- -Shv XpI IqSn ]cn-k-wn- m-iww C jpd kv XpI F{X-sb v Xocp-am-\n-t - - Xv. t\man-\n-bpss t]cv icn-bmb coxn-bn \ Im {i n-t - -Xp- v. t\man-t\-j- \n Fs - nepw am -ap-s - n AXv IrXy-k-a-bØv Xncp-Øm {i n- -Ww. Ahn-hm-ln-X amxm-]n-xm- -sf-bmwv t\man- \n-i-fmbn \ntbm-kn- m-dp- -Xv. hnhm-l- Øn\p tijw AXv PohnX ] m-fn-bpss t]cn-te v am p- -Xn\v {i n-t - -Xp- v. sse^v C jp-d kv Ih-tdPv Bh-iyamb ka-bøv Db ØpI F -XmWv {i nt as mcp Imcyw. Ahn-hm-ln-X-\mb Hcmƒ v Bh-iy-amb sse^v C jp-d kv Ih-tdPv Bbn-cn- n Abmƒ hnhm-ln-x- \m-b-xn\p tijw th -Xv. Ip n-iƒ D m- Ip-Ibpw `h\ hmbv] FSp- p-ibpw snøptºmƒ Bh-iy-amb sse^v C jp-d kv Ih-tdPv Db-cpw. CXn\v A\p-k-cn v ]pxnb t]mfnkn FSp- p-ibpw ]cn-c Db Øp- Ibpw sntø- -Xp- v.

47 {]oanbw UnPn- -embn AS m Ingnhv: Hm^ BI j-itam? s]mxp-ta-jem sse^v, P\-d C jp-d kv Iº-\n-I-fpsS t]mfn-kn- {]oanbw Hm sse-\mbn ASbv p-tºmƒ F v- -]Øv ix-am\w IngnhmWv \ Ip- Xv. t\m v ac-hn- n- \S-]-Sn p tijw P\-߃ UnPn- CS-]m-Sp-Iƒ \S-Øp- Xv t{]m m-ln- n- m-\mbn hnhn[ {]Jym- ]-\-ß-fmWv k m \S-Øn-b-Xv. s]t{smƒ ]ºp-I-fn Im Uv hgn ]W-an-S-]mSv \S- Øn-bm \n nx ix-am\w ]Ww XncnsI \ Ip-sa {]Jym-]\w \S-Ønb k m AØcw Cf-hp-Iƒ [\-Imcy D - ß-fpsS Imcy-Ønepw hmkvzm\w snøp- p. s]mxp-ta-jem sse^v, P\-d C jp-d kv Iº-\n-I-fpsS t]mfn-kn-i-fpss {]oan bw Hm sse-\mbn ASbv p-tºmƒ F v- - ]Øv ix-am\w Ingnhv \ Ip-sa mwv k m-cns {]Jym-]-\w. t\m v ac-hn- n- \S-]-Sn p tijw s]mxp-ta-jem sse^v, P\-d C jpd kv Iº-\n-I-ƒ t\m p-i-fpss masø XpS m-wv t]mfn-kn-i-fpss {]oanbw ASbv p- -Xn-\p kabw Zo Ln- n p \ In-b-Xv. F -sf-kn v H n-tesd XhW {]oanbw AS-bv p- -Xn-\p Ah-km\ XobXn \o n \ ti n h p. Cu kml- N-cy-Øn-emWv {]oanbw Hm sse-\mbn AS- m Ingn-sh {]Jym-]\w k m \S-Øn-b-Xv. sse^v C jp-d kv Iº-\n-I-fpsS t]mfn-kn-iƒ v F v ix-am-\hpw P\-d C jp-d kv Iº-\n-I-fpsS t]mfn-kn-iƒ v 10 ix-am-\hpamwv Ingn-hv. CXv t]m fnkn DS-a-Iƒ v A n-a-ambn KpW-I-c-am- Ip-tam-sb v ]cn-tim-[n-t - -Xp- v. k m-cns DS-a-ÿ-X-bn-ep GI s]mxp-ta-jem sse^v C jp-d kv Iº \n F -sf-kn-bm-wv. F -sf-kn-bpss ]p Xnb t]mfnkn hmßp-tºm-gmwv {]oan-b- Øn F v ix-am\w Ingnhv e`n- p- -Xv. F -sf-kn-bpss c v t]mfn-kn-iƒ am{xamwv Hm sse-\n e`y-am-bn-cn- p- -Xv sdkp-e {]oanbw Hm sse tsw t]mfnkn-bmb C tsw, CΩn-Un-b v A\zn n πm \mb Poh A bv F nh. \ne-hn C tsw t]mfn-kn-bpss {]oan bw kzimcy sse^v C jp-d kv Iº-\n- I-fpsS Hm sse tsw t]mfn-knifp-ambn Xmc-Xayw snøp-tºmƒ ix-am\w Db \ne-bn-em-wv. F v ix-am\w Ingnhv e`n- mepw F -sf-kn-bpss C tsw t]mfn kn FSp- p- Xv D]-t`m- m- sf kw_- n- n-s-tømfw sne-th-dnb G m-sm-wv. hn]-wn-bn AXn-t\- mƒ KWy-ambn Xmgv {]oan-b-øn Hm sse tsw F -sf-kn-bpss C tsw t]mfn-kn-bpss {]oanbw kz Imcy sse^v C jp-d kv Iº-\n-I-fpsS Hm sse tsw t]mfn-knifp-ambn Xmc-X ayw snøp-tºmƒ ixam\w Db \ne-bn-em-wv. F v ix-am\w Ingnhv e`n- m epw C tsw t]mfnkn sneth-dnbxmwv. t]mfn-kniƒ e`y-am-sw- n-cns Ahbn ani t]mfn-kn-iƒ Xnc-s -Sp- p- -XmIpw \ -Xv. Db s bnw sk n sa v tdtjym-bp sse^v C jp-d kv Iº-\n-I-fpsS t]mfn-kn-iƒ Xmc-X-tay\ kpc- n-x-am-bn-cn- pw. AtX kabw \yq C y Ajz-d kv Iº-\n, \mj-w C jp-d kv Iº\n, Hmdn-b C jp-d kv Iº-\n, bpssw- Uv C y C jp-d kv Iº-\n F o P\- d C jp-d kv Iº-\n-I-fpsS t]mfn-kn- IfpsS {]oan-b-øn-t 10 ix-am\w Ingn hv e`n- p-sa {]Jym-]\w D]-t`m- m- sf kw_- n- n-s-tømfw BI j-i-am- Wv. hml\ C jp-d kv, BtcmKy C jpd kv, t]gvk-w BIvkn-U v Ih, lukvtlmƒuv Ih XpS-ßnb hnhn[ hn`m-k-ß-fn s] P\-d C jp-d kv Iº-\n-I-fpsS t]mfn-kn-iƒ \ne-hn Hm sse-\mbn hmßm-hp- -Xm-Wv. tsw C jp-d kv πm\p-i-fn \n v hyxy-kvx-ambn P\-d C jp-d kv Iº- \n-i-fpss t]mfn-kn-iƒ Hm sse-\mbpw A m-sxbpw hmßp-tºmƒ {]oan-b-øn hyxymk-an-. AXp-sIm- p-xs Hm sse-\mbn {]oanbw AS v 10 ix-am\w In gnhv t\sn-sb-sp- mhp- -Xm-Wv. AtX ka bw ]pxnb t]mfn-kn-i-sf-sp- p- -h a v kzim-cy, s]mxp-ta-jem P\-d C jpd kv Iº-\n-I-fp-sS t]mfnkn {]oan-b-hpam bn Xmc-Xayw \S-Øn-b-Xn\p tijw Xocpam-\-sa-Sp- p- -XmIpw \ -Xv. sluvpv Hmlcn s^{_p-hcn

48 Insurance Im C jp-d kv t]mfnkn ]pxp- p-tºmƒ sfunhn Ipd-bv cp-xv Im C jp-d kv t]mfn-kn-bpss kw C jq Uv XpI-bmWv Imdns C jq Uv Unt Uv hmeyp (sf-un-hn). Im hmßn-b-xn\p tijw Hmtcm h jw ]n n-sp-t mdpw C jq Uv Unt Uv hmeyp \n nx \nc- n Ipd-bp- p-. hnetb-dnb Imdp-I-fpsS C jp-d kv ]pxp- m-\p ka-b-am-ip-tºmƒ hnhn[ C jp-d kv Iº-\n-Iƒ ]e Xc-Øn-ep Hm^-dp-Iƒ \ Im-dp v. Im DS-a-Ifpw Xß-fp-tS-Xmb coxn-bn hnhn[ C jpd kv Iº-\n-I-fpsS {]oanbw Xmc-Xayw snøm-dp- v. C jp-d kv Iº-\n-Iƒ Xmgv {]oanbw Hm^ snøm-dp-s - nepw AØcw t]mfn-kn-iƒ axn-bmb Ih-tdPv \ Ip- p-t m-sb v ]cn-tim-[n-t - -Xp- v. {]oanbw Ipd-bp- -Xn\v A\p-k-cn v Imdns C jq Uv Unt Uv hmeyp (sf- Un-hn) Ipd-s p hcmw. AXv C jpd kv Ih-tdPv Ipd-bp- -Xn\v Imc-W-am-Ipw. Im C jp-d kv t]mfn-kn-bpss kw C jq Uv XpI-bmWv Imdns C jq Uv Unt Uv hmeyp. Im C jq snbvxn-cn- p XpI-bpsS ASn-ÿm-\-Øn-emWv Im tamjvsn- -s -Sp-Itbm A]-I-S-ß-fn A - p- - Wn \S-Øm-\m-ImØ hn[w XI-cp- Itbm snbvxm s bn-ap-iƒ Xo m p- -Xv. AXn-\m {]oanbw Ipd t]mfn- 48 sluvpv Hmlcn s^{_p-hcn 2017 kn- FSp- p- -Xn-\ Im DSa {]m[m\yw \ ti- -Xv. axnbmb C jq Uv Unt Uv hmeyp Dd- p-h-cp-øn-b-xn\p tijta {]oanbw Xmc-Xayw sntø- -Xp- q. ka-{k-amb Im C jp-d kv t]mfn-kn c p Xc-Øn-ep dnkvip-i-fmwv Ih snøp- -Xv. Imdn\v hcp tisp-]m-sp-iƒ sfunhnbpss ASn-ÿm-\-ØnemWv Im tamjvsn- -s -Sp-I tbm A]-I-S-ß-fn A - p- - Wn \S-Øm-\m-ImØ hn[w XI-cp-Itbm snbvxm s bnap-iƒ Xo m p- -Xv. AXn- \m {]oanbw Ipd t]mfnkn- FSp- p- -Xn-\ Im DSa {]m[m\yw \ ti- -Xv. p XmWv BZysØ Ih-td-Pv. Im HmSn- p- -Xn-\nsS as mcp hml-\-øn\v tisp ]msv kw`-hn- p-itbm as mcp hy n v A]-ISw kw`-hn- p-itbm snøpibmsw- n \ Ip Ih-tdPv BWv c m-a-tø- Xv. c m-asø Ih-td-Pn-\p {]oanbw \nbam-\p-kr-x-ambmwv Xocp-am-\n- p- -Xv. AtX kabw BZysØ Ih-tdPn\p {]oanbw Imdns C jq Uv Unt Uv hmeyphns\ ASn-ÿm-\-am- n-bmwv \n -bn- p- -Xv. AXp-sIm- p-xs Im C jp-d kv t]mfnkn FSp- p-tºmgpw ]pxp- p-tºmgpw Imdns C jq Uv Unt Uv hmeyp {][m- \-ambn hcp p. ]pxnb Im hmßp-tºmƒ AXv hn p hne-bpss ASn-ÿm-\-Øn-emWv C jq Uv Unt Uv hmeyp \n -bn- p- -Xv. ]pxnb Imdns C jq Uv Unt Uv hm eyp \n -bn- p- -Xv FIvkv- -tjmdqw hnebn \n pw txbvam\ \nc v Ipd- -Xn\p tij-am-wv. km[m-cw \ne-bn ]p Xnb Imdp-I-fpsS txbvam\ \nc v A v ix-

49 am-\-am-wv. AXm-bXv ]pxnb Imdp-I-fpsS ]c-am-h[n C jq Uv Unt Uv hmeyp F Ivkvtjmdqw hne-bpss 95 ix-am-\-am-bn-cn- pw. Im tjmdq-an \n pw ]pd-øn-d-ßp- -txmss txbvam\ \nc v Db-cp-Ibpw C jq Uv Unt Uv hmeyp Ipd-bp-Ibpw snøp- p. Hmtcm h jhpw C jq Uv Un t Uv hmeyp \n nx \nc- n Ipd-bp- p- v. Im hmßn Hcp h j-am-ip-tºm-tg pw C jq Uv Unt Uv hmeyp 15 ixam-\-amwv Ipd-bp- -Xv. XpS p h jß-fn 20 ix-am-\w, 30 ix-am-\w, 40 ixam\w F n-ßs\ Ipd-bp- p. Im hmßn A v h j-am-ip-tºm-tg pw C jq Uv Unt Uv hmeyp hmßnb hne-bpss 50 ix-am\w am{x-am-bn-cn- pw. Hmtcm XhW {]oanbw ]pxp- p-tºm gpw txbvam\ \nc- n\v A\p-k-cn mwv C jq Uv Unt Uv hmeyp \n -bn- p- -Xv. AtX kabw Imdns C jq Uv Unt Uv hmeyp kz w \ne-bn \n - bn- m DS-abv v Ah-k-c-ap- v. CØ-c-Øn \n -bn- m-hp sfun-hn v Hmtcm C jp-d kv Iº-\nbpw Ipd ]cn[nbpw IqSnb ]cn-[nbpw \n -bn- n- p- v. sf Unhn v A\p-k-cn v {]oan-b-ønepw am w h cpw. sfunhn Ipd-bp-tºmƒ {]oan-bw Ipdbpw. Imdns sfunhn kz w \n e-bn \n -bn- m t]mfn kn DS-abv v Ah-k-c-ap- v. CØ-c-Øn \n -bn- m-hp sfun-hn v Hmtcm C jp-d kv Iº-\nbpw Ipd ]cn[nbpw IqSnb ]cn-[nbpw \n -bn- n- p- v. txbvam\ \nc- n\v A\p-k-cn v sfun hn \n -bn- p Xn\v ]Icw kz w \nebn sfunhn \n -bn- p-tºmƒ A w Db sfunhn e`n- p- -Xn\pw Ah-kc-ap- v. DZm-l-c-W-Øn\v txbvam\ \nc- v Ingn Xn\p tij-ap sfunhn aq v e w cq]-bm-sw- n Im DSabv v \n - bn- mhp sfunhn 2.5 e -Øn\pw 3.5 e -Øn\pw CS-bn-em-Imw. Db sfun hn \n -bn- p-i-bm-sw- n Db {]oanbhpw \ ti n hcpw. sfunhn XpI ]q W-ambpw s bnw snøm km[n- -Wsa n. hml-\-øn\v kw`-hn tisp-]m-sns bpw s bn-an-s bpw kz`m-h-øn\v A\pk-cn- m-bn-cn pw s bnw XpI \n -bn- p- -Xv. sfunhn v Xpey-amb s bnw \n - bn- p- Xv c v kml-n-cy-ß-fn-em-wv. Im tamjvsn- -s -Sp-Itbm A - p- - Wn \S- Øm-\m-ImØ hn[w A]-I-S-Øn 75 ixam\w XI-cp-Itbm snbvxm sfunhn ]q W-ambpw s bnw snømw. Im tamjvsn- s - m DS s bnw Xo m m-dn-. s]meo kv At\z-j-W-Øn Im Is -Øm-\m- ImsX hcn-i-bm-sw- n GXm\pw amk߃ p tijw am{xta s bnw Xo m p- I-bp q. AXp-t]mse Im A - p- - Wn \S-Øm-\m-ImØ hn[w XI-cp-I-bm-sW- n 75 ix-am-\-tømfw tisp-]m-sp-s v {]txy I GP p-am-cpss ]cn-tim-[-\-bn-eqss Is - Øp-I-bm-sW- n am{xta sfun-hn v Xp ey-amb s bnw XpI e`n- p-i-bp- q. A v h j-øn-tesd ]g- -ap Imdp- I-fpsS sfunhn Im DS-abpw C jp-d kv Iº-\nbpw XΩn-ep ]c-kv]c [mc- W-bpsS ASn-ÿm-\-Øn-emWv \n -bn- p- -Xv. AØcw Imdp-Iƒ v hcp tisp- ]m-sp-iƒ p Ih-tdPn\p {]oanbw s]mxpsh Db -Xm-bn-cn- pw. Npcp- -Øn sfunhn Ipd p ImWn- m {]oanbw Ipd-bp-sa- nepw Imdn\v axnbmb Ih-tdPv e`n- p- Xn\v {]oanbw A w h [n- mepw axn-bmb sfunhn \n -bn- p- -XmWv DNn-Xsa mwv Im DSa-Iƒ a\-kn-em-t - -Xv. sluvpv Hmlcn s^{_p-hcn

50 50 sluvpv Hmlcn s^{_p-hcn 2017

51 sluvpv Hmlcn s^{_p-hcn

52 Total Pages: 52 Publishing Date : RNI NO. KERMAL /2011/39839 HEDGE OHARI Registered No. KL/EKM/724/ Printed, sluvpv published Hmlcn and owned s^{_p-hcn by Alex K.Babu, 2017 printed at Sterling Print House (P) Ltd., Ponekkara-Cheranelloor Road, AIMS Ponekkara PO, Cochin-41 for Varna Offset Printers (EKM) and published at Hedge Equities, Hedge House, Mamangalam, Kochi, Pin Editor: K. Aravind