Democrats close to reaching deal on Biden’s social spending plan


Washington, Oct 25 | US House Speaker Nancy Pelosi said that Democrats are close to reaching a deal on President Joe Biden’s social spending plan.

“In terms of where we are, I have said already we have 90 percent of the bill agreed to and written. We just have some of the last decisions to be made,” Xinhua news agency quoted Pelosi as saying on CNN on Sunday night.

When asked if Democrats will have a deal by the time Biden leaves for Europe at the end of the week, Pelosi said that “I think we’re pretty much there now”.

“It’s just the language of it,” she said.

Biden has been pushing Democrats to reach an agreement on his social spending plan ahead of a self-imposed deadline of October 31.

“It’s all about compromise. You know, ‘compromise’ has become a dirty word, but bipartisanship and compromise still has to be possible,” Biden had said during a CNN town hall on October 21.

“If we can’t eventually unite this country, we’re in deep trouble,” he said.

Democrats have agreed to cut the price tag of the social spending plan from the original $3.5 trillion to about $2 trillion in order to win support from key moderate Democratic senators, Joe Manchin of West Virginia and Kyrsten Sinema of Arizona.

“It is less than what was projected to begin with, but it is still bigger than anything we’ve done in terms of addressing the needs of American working families,” Pelosi said, adding the point is to reach a goal.

Pelosi’s remarks came as Biden is meeting with Manchin and Senate Majority Leader Chuck Schumer on Sunday in a bid to finalise the social spending plan, according to Bloomberg News.

The White House and Manchin still differ on the terms of the top-line spending level for the bill, which creates and expands programs aimed at helping women, minorities, children and the elderly, Bloomberg reported.

Democrats have said they hope that an agreement in principle on the social spending bill will allow the House to vote this week on a separate physical infrastructure bill, as the current authorisation for highway funding expires on October 31.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal


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