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AI Governance Market Set to Surge to $5.8 Billion by 2029, Driven by Compliance and Ethical Demands

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The AI Governance Market is poised for remarkable growth, expected to rise from $890.6 million in 2024 to an impressive $5,776.0 million by 2029, reflecting a robust compound annual growth rate (CAGR) of 45.3%. This surge is largely attributed to increasing regulatory pressures and the growing demand for compliance as governments worldwide implement stricter regulations regarding artificial intelligence (AI) systems. One notable example is the European Union’s AI Act, which mandates risk assessments and compliance audits for AI systems, especially in high-stakes sectors like healthcare and finance. This heightened scrutiny has prompted organizations to adopt comprehensive governance frameworks, as failure to comply could lead to significant reputational damage. The recent controversy surrounding OpenAI’s GPT models, which raised concerns over misinformation and bias, underscores the critical need for robust AI oversight. Additionally, Amazon’s withdrawal of its biased AI recruiting tool serves as a stark reminder of the financial and reputational risks associated with unregulated AI systems. As AI adoption accelerates across heavily regulated industries, particularly in Banking, Financial Services, and Insurance (BFSI) and healthcare, the need for effective AI governance tools becomes more pronounced. Companies in these sectors face immense pressure to adhere to evolving regulations, prompting them to seek out governance solutions that ensure compliance. Data Governance Tools Lead the Charge In terms of product type, data governance tools are projected to capture the largest market share in 2024, thanks to their robust capabilities in data provenance and lineage. These tools enable organizations to monitor data quality and track potential biases within training datasets, ensuring that AI systems do not produce biased or unfair outcomes. For instance, data governance tools can implement profiling techniques to assess fairness and establish data lineage, addressing any issues in data sourcing. The increasing regulatory requirements for documentation, tracking, and record-keeping of the data used in AI systems have further amplified the significance of data governance. These tools play a vital role in compliance, offering traceability and accuracy that organizations require to implement responsible AI practices. Rise of Ethical AI The demand for ethical AI usage, especially in machine learning (ML) platforms and generative AI models, is propelling software and technology providers to become the fastest-growing end-user segment in the AI Governance Market. As these providers rapidly adopt governance tools to ensure the trustworthiness and ethical integrity of their AI systems, the regulatory scrutiny intensifies. Major players in the industry, such as Microsoft and Google, are establishing internal ethical frameworks to uphold strong ethical standards across their AI offerings. Stakeholders increasingly expect technology companies to develop AI responsibly, making it imperative for businesses to integrate ethical practices and compliance measures to sustain brand trust and growth. North America Leads the Market North America is set to hold the largest share of the AI Governance Market in 2024, driven by a robust regulatory environment and significant investments in responsible AI deployment. Federal funding for AI governance in the region exceeded $1 billion in 2023, indicating a growing commitment to responsible AI research and implementation. Industries under strict regulations, such as healthcare and banking, are at the forefront of governance adoption, with 45% of healthcare providers citing regulatory compliance as a crucial business requirement. Many businesses anticipate even stricter AI regulations in the coming years, with 62% highlighting data privacy compliance as a key driver for governance implementation. Furthermore, consumer trust plays a pivotal role; 78% of American consumers prefer brands that employ ethical AI practices. Organizations are increasingly prioritizing fairness in their AI systems, turning to tools like IBM’s AI Fairness 360 to mitigate bias, with 56% of companies taking such measures. Financial institutions, in particular, are focusing on risk management, prioritizing governance to address AI-related challenges. Key Players in the Market The AI Governance Market features significant players, including Microsoft, IBM, SAS Institute, DataRobot, and Dataiku, alongside innovative SMEs and startups like Fiddler AI, 2021.AI, Monitaur, Credo AI, and Fairly AI. These organizations are shaping the future of AI governance, ensuring that ethical practices and compliance measures become integral to AI development. As the AI Governance Market continues to expand, organizations that embrace robust governance frameworks will be well-positioned to navigate the complex regulatory landscape and leverage the full potential of AI technologies. The increasing focus on ethical AI and compliance will drive innovation and ensure that AI systems remain trustworthy and effective in addressing real-world challenges.  

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Developed India Needs Civil Governance Reforms for Inclusive Growth by 2047

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Achieving a developed India by 2047 requires significant reforms in civil governance to foster inclusivity, ensuring that every citizen can realize their full potential. A focus on double-digit growth to boost per capita income and enhancing human capital is essential, especially as half of the population is projected to live in urban areas over the next decade. Institutional flexibility and autonomy must be introduced in areas such as education, health, and nutrition. Civil governance reforms need to prioritize the bottom quintile of income earners, skilling, green growth, and urban living standards. To ensure effectiveness, decentralizing community action under the leadership of gram panchayats and urban local bodies is vital, with a strong role for women’s collectives in monitoring progress. The need for institutional flexibility, transparency in standard setting, city-wide planning, and capacity development is critical. A right to public services with guaranteed compliance, along with community-led action, will complement these changes. Furthermore, convergence across sectors such as education, health, nutrition, and employment is vital, as improvements in one sector often lead to benefits in others. To ensure accountability, data on public service performance, validated by local governments, should be made publicly available. The Sustainable Development Goals (SDGs) framework can serve as a measure for governance success, with processes like the Mission Antyodaya Survey providing data on progress at the local level. Innovations in human resource engagement, performance-based assessments, and longer tenures for development functionaries are essential for sustained improvements in human development. Ultimately, evidence-based governance driven by community-led planning, transparent beneficiary selection, and conviction-based leadership is the key to realizing an inclusive and developed India by 2047.

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GOAT Box Office Day 1: Vijay’s Film Earns Rs 55 Crore, Sets New Record as Biggest Tamil Opener

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Thalapathy Vijay’s highly anticipated film The GOAT has shattered records at the Tamil box office, earning an estimated Rs 55 crore on its opening day across India. This impressive figure marks the film as the biggest Tamil opener, surpassing all expectations. The GOAT becomes the third Vijay film and the fifth overall from Kollywood to cross the Rs 50 crore threshold on its opening day. In Tamil Nadu alone, the film grossed over Rs 30 crore, with final numbers expected to be between Rs 32-35 crore, according to early reports. This puts The GOAT in line with Vijay’s other massive openers, such as Sarkar, Beast, and Leo, all of which have crossed the Rs 30 crore mark. It remains to be seen if The GOAT can break the first-day record held by Beast at Rs 35 crore as official figures are confirmed. The GOAT’s strong debut has dethroned Kamal Haasan’s Indian 2 as the biggest Tamil film opener of 2024, which previously held the record with Rs 26 crore net earnings in India. The film’s success further cements Vijay’s dominance at the Tamil Nadu box office, driven by his star power alone, as it lacks a popular IP or standout musical score to boost its appeal. Outside Tamil Nadu, the film also saw significant success, grossing over Rs 9 crore in Karnataka and Rs 6 crore in Kerala. However, it received a lukewarm response in the Telugu states, with analysts attributing the lower numbers to the film’s music, which may not have resonated as strongly with audiences in those regions. Despite mixed reviews, including a 2.5/5 rating from News18 Showsha, which criticized the film for lacking depth and character development, The GOAT’s record-breaking debut highlights Vijay’s unmatched box office pull, solidifying his title as the “Greatest of All Time” in Tamil cinema.    

GOAT Box Office Day 1: Vijay’s Film Earns Rs 55 Crore, Sets New Record as Biggest Tamil Opener Read More »

Heatstroke Took 374 Lives, Over 67,000 Cases Till July 27: Health Ministry

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India has reported 374 deaths and 67,637 cases of suspected heatstroke from March 1 to July 27 this year, according to Minister of State for Health Anupriya Patel. The alarming figures were disclosed in the Lok Sabha on Friday. The latest data reveals a significant increase from the earlier estimates provided by the Ministry of Health, which reported 110 deaths and 42,000 cases by June 18. The majority of these incidents occurred in rural areas, where strenuous outdoor work associated with agriculture and poor health infrastructure exacerbated the impact of the heatwave. Uttar Pradesh was the worst-hit state, recording 52 deaths. Bihar followed with 37 fatalities, while Odisha and Delhi reported 26 and 25 deaths respectively. These statistics were compiled under the National Heat-Related Illness and Death Surveillance by the National Centre for Disease Control (NCDC). Government Response and Measures The Integrated Health Information Portal has been receiving data on heatstroke cases and deaths from States and Union Territories since 2023, as noted by Minister Patel. State and UT health departments get yearly warnings from the Ministry of Health and Family Welfare (MoHFW) to put awareness, readiness, and response plans into place. The Union Health Ministry’s Secretary communicated with the chief secretaries of all states and UTs on February 29 in order to release this year’s advise. The warning included steps to improve community awareness of heat-related diseases and to bolster health sector readiness. Record-Breaking Temperatures and Weather Anomalies With a blistering 47 degrees Celsius, June 2024 witnessed the hottest temperature recorded in the month in a decade. The hottest temperatures ever recorded in June 2023 were 41.8 degrees Celsius, 44.2 degrees Celsius in 2022, and 43 degrees Celsius in 2021. This is a considerable rise above the prior records. Furthermore, July was the second warmest month overall in India since 1901 and the highest nighttime temperature ever recorded in the country. Significant flooding resulted from the abnormally high rains that followed the record temperatures in various states, including Gujarat, Kerala, and Uttar Pradesh. It was the hottest July on record for both mean and lowest temperatures in the east and northeast of India. The terrible heatwave has made it clear how urgently better infrastructure and readiness are needed to deal with extreme weather, especially in rural regions. The growing frequency and intensity of these occurrences highlight the significance of long-term policies to address climate change and its implications on public health, even if the government’s preemptive actions and advisories play a key role in lessening the impact of such heatwaves. Reference taken from the Hindu

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Tax Reforms in Budget 2024 to Boost Capital Flows and M&A Transactions in India

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New India is clearly the fastest-growing economy in the world. To maintain this status, two elements are critical: robust capital flows from domestic corporates, multinationals, and financial sponsors, and a push for mergers and acquisitions (M&A) and other value creation activities. This Budget, the first one in the third term of the government, thus carries great expectations from investors and India Inc. Here are seven predictions on what one could potentially see in the current Budget from an M&A standpoint. Valuation Rules for Listed Company Transactions: Listed company transactions in India today face a peculiar and unique problem. Valuation rules enshrined in the anti-abuse provision contained in section 56 of the Income Tax Act can be misinterpreted, leading to unintended consequences. Even bona fide trades between unrelated parties at prices discovered transparently and commercially negotiated could still be subject to artificial pricing norms, exposing the transaction to ordinary income taxes in the hands of the buyer. In the current markets, one would expect a host of listed company transactions, and the government would likely want to resolve this issue. Rationalization of Capital Gains Tax Rates: There has been discussion around the various different tax rates applicable to capital gains in different situations. In the context of the current active transactions market, taxability of capital gains has assumed greater relevance. One may expect some rationalization of the rates and holding periods for transactions that give rise to capital gains taxes. Deferral of Taxes on Share Swaps: Deferral of taxes on share swaps has been a long-standing point of conversation. The logic is simple – a share swap in certain situations largely achieves the same result as a merger. If a merger is accorded tax deferral, then it stands to reason that, subject to prescribed anti-abuse conditions, which could include non-monetization covenants, the same treatment be accorded to swap transactions. This would also make our law consistent with the tax provisions applicable in other markets such as the US. Financing of M&A Activity: Financing of M&A activity in India is more difficult owing to legal restrictions. This places Indian acquirers at a competitive disadvantage relative to their foreign peers while bidding for assets. While this is not an issue to be centrally addressed by the Budget, a directional policy indication on this count would be useful in bolstering the confidence of the markets and leveling the playing field for domestic acquirers. Reconsidering Tax Distinctions Between Industrial and Non-Industrial Companies: In today’s value creation cycle, the historical distinction that the tax law makes between an industrial and a non-industrial company merits reconsideration. There are benefits, for example, consolidation of losses in a merger scenario, available to companies carrying on manufacturing or industrial activities but not typically to most classes of services or non-industrial companies. At a time when significant value in the economy is being generated from non-industrial companies, the time to reconsider this distinction is perhaps with the current Budget. Taxation Regime for Deal Structures: M&A transactions in India, particularly at the current valuation levels, have started employing tools used globally to bridge valuation gaps. These include earn-outs, deferred considerations, and contingent payments. Aligning tax laws to these deal realities by providing a clear taxation regime is something the government can achieve without losing tax revenue – this will go a long way in clearing the path for such transactions to occur seamlessly. Clean-ups in the Tax Law: Provisions involving overseas mergers of companies that hold Indian assets are already accorded tax neutrality. These provisions need certain “clean-up” clarifications to make them workable. Likewise, Indian holding companies of overseas subsidiaries will benefit from some clarificatory amendments for restructuring of such overseas subsidiaries. This government has shown responsiveness to valid asks around the theme of clarifications and clean-ups, and one would expect these to be carried in the current Budget.  

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Pension Budget 2024 Expectations: FM May Offer Guarantee Under NPS; Central Government Employees Likely to Get 50% of Last Pay Drawn as Pension

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The government plans to provide 50% of the final pay drawn as pension for central government employees enrolled in the National Pension System (NPS). This effort addresses their worries about the pension payout, even though the current scheme offers attractive returns for those who remain invested for 25-30 years, especially for those recruited after 2004, according to a news report by Sidhartha in Times of India. A committee, led by Finance Secretary T V Somanathan, was formed after an announcement by Finance Minister Nirmala Sitharaman. Although the government has rejected a return to the Old Pension Scheme (OPS), it has left open the option to provide some level of reassurance. This comes amidst the Congress announcing a reversal of a decision made by the Manmohan Singh government. What is the Old Pension Scheme (OPS)? For the OPS scheme, government employees can receive half of their last drawn salary as a lifelong pension. This amount is subject to adjustments based on pay commission recommendations. The OPS ensures that government employees receive a guaranteed monthly pension upon retirement, provided they have completed at least ten years of service. This pension amount is calculated based on their last drawn basic salary and the total number of years in service. One of the key features of the OPS is that the government is responsible for paying the entire pension amount to the retired government employees. This means that during their years of service, no portion of the employees’ salaries is deducted towards their pension fund. This scheme offers financial security and stability to government employees after their retirement, allowing them to plan for their post-retirement life with confidence. On the other hand, the NPS scheme works differently, as it is a defined contribution plan. Under this scheme, government employees contribute 10% of their basic salary, and the Centre provides a 14% contribution. Pension: Budget 2024 Expectations The Somanathan committee has examined the international experience and studied the adjustments made by the Andhra Pradesh government. Additionally, extensive calculations have assessed the effects of guaranteeing a certain return. “Although it is possible for the Centre to offer 40-45% guarantee, politically, it does not address the concern of employees who work for 25-30 years. As a result, there is growing acknowledgment within the govt of offering a 50% guarantee. Which means in case of a shortfall, the govt will fill the gap,” according to the Times of India news report. The committee members believe that an annual assessment must be carried out, as opposed to the government pension system, which is unfunded because the Centre lacks a retirement fund. The Centre will probably establish a fund this time in Budget 2024, similar to companies that provide retirement benefits to their employees. Officials have stated that individuals who remain employed for 25-30 years are experiencing satisfactory returns that align with the pension payments received by those under the OPS. They have noted that the grievances regarding low payouts primarily come from individuals who have left the scheme after completing 20 years or less. On January 11, 2024, in a memorandum, the Joint Forum for Restoration of Old Pension Scheme (NJCA), formed under the banner of the NJCA, urged the finance ministry to reinstate the non-contributory and guaranteed Old Pension Scheme instead of the contributory National Pension System for central government employees – including those in railways, defense, postal, income tax, accounts and audit, central secretariat, Isro, DAE, etc., as well as for autonomous bodies, paramilitary forces, and all state govt./Union territory employees, comprising primary teachers, high school and higher secondary teachers, and College and University Teachers, etc. The reinstatement applies to employees hired on or after January 1, 2004. The department of expenditure of the finance ministry responded to the demand for the Guaranteed Old Pension Scheme (OPS) to replace the existing National Pension System (NPS) for central government employees, as requested by the Joint Forum for Restoration of Old Pension Scheme (NJCA), “It is informed that the Committee formed under the Chairmanship of FS & SE to look into the issue of NPS has already had two rounds of detailed discussion with the Staff Side of National Council (JCM) and the valuable views of the NC (JCM) have already been noted by the Committee.”

Pension Budget 2024 Expectations: FM May Offer Guarantee Under NPS; Central Government Employees Likely to Get 50% of Last Pay Drawn as Pension Read More »

ADB Approves $170 Million Loan to Strengthen Health Sector in India

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The Asian Development Bank (ADB) has approved a $170 million policy-based loan to enhance India’s readiness and capability in the health sector to address future pandemics. This funding, under the Strengthened and Measurable Actions for Resilient and Transformative Health Systems (Subprogramme 1), will support the implementation of the government’s National Health Policy 2017. The policy aims to ensure universal access to high-quality healthcare services across the country. Sonalini Khetrapal, a senior health specialist at ADB, stated, “The Covid-19 pandemic has taught us valuable lessons and the adoption of several innovative practices that would significantly strengthen pandemic preparedness and response capacities if consolidated, sustained, and institutionalised. ADB has been working with the Government of India to strengthen its health system and adopt transformative solutions.” This loan will address deficiencies in governance, legislation, and institutional structures, advancing India’s objective of achieving universal access to quality and affordable healthcare services, Khetrapal added. Work Towards Disease Surveillance Systems The programme aims to enhance disease surveillance systems to promptly address public health threats. It will establish laboratory networks for monitoring infectious diseases across states, union territories, and metropolitan areas. Additionally, it will assist in developing reliable data systems to oversee and align national health initiatives targeting disadvantaged populations such as the poor and women. “The programme will improve the governance and coordination of India’s One Health approach, its multisector response to emerging infectious diseases,” the press release stated. Efforts to Implement Policy Reforms ADB will assist in implementing policy reforms aimed at ensuring sufficient and skilled healthcare professionals. This effort includes legislation to oversee and uphold educational standards, service quality, and professional ethics among nurses, midwives, allied healthcare workers, and doctors. “The programme will help public health and health management teams deployed in some states to support public health functions and improve service delivery,” the release said. The programme aims to oversee integrated public health laboratories in five states and district critical care hospital units to enhance services for infectious diseases and critical illnesses. It will aid the intersectoral governing body and multisector task force in establishing environmentally sustainable and climate-resilient healthcare facilities. Furthermore, it will promote innovative approaches to service delivery.

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NEET UG Row: Retest for 1,563 Candidates an Option; Exam Sanctity Affected, Says Top Court

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A retest for all 1,563 candidates who were awarded “grace marks” for “loss of time” in this year’s National Eligibility-cum-Entrance Test (Undergraduate) is among the options being considered by the four-member committee formed last week by the National Testing Agency (NTA). This follows an uproar over the extraordinarily large number of candidates scoring well in the entrance test, with 67 securing the perfect score of 720/720. The Indian Express has learned that the committee, headed by a former UPSC chairman, in its first few meetings, has discussed offering all 1,563 candidates the option to either sit for a retest or accept the “non-normalised score,” which reflects the scores they actually achieved before the addition of grace marks. The exact composition of the committee hasn’t been disclosed by the government, but it is expected to submit its recommendation to the NTA in the next two days, sources said. On Tuesday, the Supreme Court, while hearing a petition seeking the cancellation of the exams amid allegations of leakage of the NEET-UG paper, said the exam “sanctity has been affected” and sought answers from the NTA and the Centre. However, the bench, presided over by Justice Vikram Nath, declined to stay the counselling and tagged the petition with another to be heard on July 8 by a bench led by Chief Justice of India D Y Chandrachud. “Let the counselling start. We are not stopping the counselling,” Justice Nath said when Senior Advocate Mathews J Nedumpara, appearing for the petitioners, urged the bench to stay the counselling. Announced on June 4, the NEET-UG results drew immediate attention after 67 candidates got the perfect score of 720/720, and some candidates got 718 or 719 — marks others claimed were not possible under the exam scheme. The NTA attributed this to a combination of factors, including a relatively easier paper, the decision to award additional marks to students who lost time during the exam because of errors and delays on the part of NTA staff and invigilators, and an incorrect question. Of these three reasons, as many as 1,563 candidates, across six test centres, witnessed an artificial bump in their results due to the additional marks awarded to them in proportion to the time they lost because of mistakes made by invigilation staff. Of the six centres, two were in Chhattisgarh (one each in Balod and Dantewada), one each in Meghalaya, Surat, Haryana’s Bahadurgarh, and Chandigarh. According to video footage reviewed by the NTA, it was determined that candidates across the six centres had lost up to 40 minutes and were compensated appropriately with grace marks based on a normalisation formula from a 2018 Supreme Court judgement regarding a similar incident in CLAT. The NEET-UG paper duration is 200 minutes. The announcement of NEET-UG results was followed by an uproar, forcing the NTA and the Ministry of Education to constitute a committee to at least review the results of the 1,563 candidates. “Although this is not the final decision, many members are leaning towards the option of asking these candidates to either accept their raw score (pre-normalisation) score or sit for a retest. The majority of the 1,500 candidates scored less than 300 out of 720 marks even after normalisation. It was felt they may not come forward for the retest even if offered as an option. For the remaining numbers, it will not be too difficult to conduct the exam again,” said a source who did not wish to be identified. The Directorate General of Health Services hasn’t announced the counselling schedule yet. If the NTA finally decides to conduct a retest, it will have to consult DGHS to ensure that the results are announced before the counselling process begins. Around 24 lakh candidates took the entrance examination held on May 5 in 571 cities, 14 of which were outside India. According to the latest available data, there are a total of 1,08,940 MBBS seats in more than 700 medical colleges across the country. In the Supreme Court, a fresh writ petition, filed by a batch of students, raised doubts about the sanctity of the examination in the light of allegations of the paper leak and urged the court to cancel it and direct the NTA to hold it again. In their plea, the students said, “After having stumbled upon news of the NEET exam paper leak, they have been shaken… the Petitioners are under tremendous stress and anxiety … their family members nurtured the dream of Petitioners becoming a medical practitioner one day.” Hearing a similar plea on May 17, a CJI-led bench had declined to stay the declaration of the NEET exam results and posted the matter for hearing on July 8.

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Unlocking Learning Potential: Embracing Open-Book Exams in Higher Education

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In the wake of transformative changes in Indian education post-COVID, the paradigm shift towards online learning has brought forth an array of challenges and opportunities. As institutions adapt to this new normal, the realm of assessments undergoes a profound evolution, with open-book exams emerging as a promising avenue. Dr. Selvam Jesiah, a distinguished Professor of Management at Sri Ramachandra Institute of Higher Education and Research, Chennai, sheds light on the merits and hurdles of integrating open-book assessments in higher education. Dr. Jesiah underscores the pedagogical significance of open-book exams, emphasizing their capacity to foster deep learning and critical thinking while alleviating stress among students. Citing the All India Council for Technical Education’s endorsement, he highlights the alignment of open-book assessments with Bloom’s Taxonomy, designed to cultivate higher-order cognitive skills essential for holistic development. However, Dr. Jesiah cautions against misconceptions surrounding open-book assessments, clarifying that it demands rigorous preparation and active engagement from both educators and learners. He delineates the nuanced approach required in framing questions that necessitate analytical reasoning and application of concepts, rather than mere regurgitation of information. Moreover, he emphasizes the indispensable role of teachers in guiding students towards a comprehensive understanding of the subject matter, indispensable for navigating open-book exams effectively. Yet, transitioning towards open-book assessments presents formidable challenges. Dr. Jesiah identifies the imperative of teacher training and mindset realignment as pivotal in ensuring the efficacy of this evaluation method. Crafting question papers that stimulate critical thinking poses a formidable task, demanding concerted efforts to recalibrate traditional assessment practices. Moreover, Dr. Jesiah advocates for a nuanced consideration of students’ socio-economic backgrounds, recognizing disparities in access to resources and technology. Addressing these inequities entails reimagining examination infrastructure and support mechanisms to accommodate diverse learning needs. In conclusion, Dr. Jesiah emphasizes the collective responsibility of administrators, educators, and students in navigating the complexities of open-book assessments. By embracing a paradigm shift in assessment practices, he envisions a transformative learning landscape where the cultivation of higher-order thinking skills takes precedence over rote memorization. Through collaborative efforts and a steadfast commitment to pedagogical innovation, Dr. Jesiah envisages a future where open-book exams serve as catalysts for fostering a generation of adept critical thinkers and problem solvers. Source: The Hindu  

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Oscars 2024 Highlights: Oppenheimer Dominates, Robert Downey Jr.’s Memorable Win

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The 96th Academy Awards, held on Sunday, March 10, 2024, at the Dolby Theatre in Los Angeles, marked a spectacular celebration of cinematic excellence. As stars graced the red carpet in their glamorous attire, the anticipation for the evening’s highlights was palpable. Hosted by the renowned talk show host Jimmy Kimmel, the ceremony promised to honor the best performances and achievements in the film industry. One of the standout moments of the night was the dominance of Christopher Nolan’s epic drama, “Oppenheimer.” With an impressive 13 nominations, the film emerged as the frontrunner and ultimately clinched the prestigious Best Picture award. Chronicling the race to build the first atomic bomb, “Oppenheimer” captivated audiences and critics alike with its compelling narrative and stellar performances. Irish actor Cillian Murphy took home the award for Best Actor for his portrayal of physicist J. Robert Oppenheimer. Murphy’s nuanced portrayal captured the complexities of Oppenheimer’s character, earning him critical acclaim and cementing his status as one of the finest actors of his generation. His win was well-deserved and served as a testament to his remarkable talent and dedication to his craft. In the category of Best Actress, Emma Stone emerged victorious for her role in Yorgos Lanthimos’ “Poor Things.” Stone’s captivating performance captivated audiences, showcasing her versatility as an actress. Her win added another feather to her cap and reaffirmed her status as one of Hollywood’s leading ladies. The supporting categories also witnessed deserving winners, with Robert Downey Jr. winning the award for Best Supporting Actor for his role in “Oppenheimer.” Downey’s portrayal of Admiral Lewis Strauss resonated with audiences, showcasing his exceptional acting prowess. His heartfelt acceptance speech, filled with gratitude and humor, endeared him to fans and colleagues alike. The evening was not only a celebration of cinematic achievements but also a platform for social commentary and awareness. As pro-Palestinian protesters gathered outside the Dolby Theatre, the event highlighted the intersection of art and activism. The film industry’s influence and reach were evident as filmmakers and actors used their platform to shed light on pressing issues and advocate for change. Social media buzzed with excitement as fans and viewers shared their reactions to the ceremony. Memes, jokes, and heartfelt messages flooded timelines, reflecting the collective excitement and engagement surrounding the Oscars. From humorous observations to poignant reflections, social media provided a space for audiences to connect and celebrate the magic of cinema. Fashion also took center stage as celebrities dazzled on the red carpet in an array of stunning ensembles. From classic silhouettes to bold statement pieces, the evening showcased the diversity and creativity of Hollywood’s style icons. Emma Stone’s ethereal pastel gown and Ryan Gosling’s glittering pink suit were among the standout looks that captivated audiences and left a lasting impression. The Oscars 2024 ceremony was a testament to the enduring power of storytelling and the transformative impact of cinema. As the film industry continues to evolve and innovate, the Academy Awards serve as a beacon of excellence, honoring the visionary filmmakers, actors, and creatives who bring stories to life on the silver screen. In conclusion, the 96th Academy Awards was a night to remember, filled with memorable moments, deserving winners, and powerful performances. From the triumph of “Oppenheimer” to the heartfelt speeches and social media frenzy, the ceremony encapsulated the magic and allure of Hollywood. As we reflect on the highlights of the evening, we celebrate the enduring legacy of cinema and look forward to the stories that await us in the years to come.  

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