NYYH@LGFL] > ATKL] YBFF]

^unohahinthkl D]FI Ofvfo = BLM Mhpokgn hl Dushlfss

Vlht
Vlht l
lug
ugdf
dfrr nl
nlm
m th
thto
toff Vl
Vlht
ht 8
833 Fl
Fltr
trfp
fprf
rflf
lfur
ursb
sbhp
hp n
nlm
lm Y
Ygn
gnoo
oo D
Dus
ushl
hlfs
fsss Gn
Gnln
ln`f
`fgf
gflt
lt

Yudghsshkl mntf Mntf rfifhvfm (>st sudghsshkl)

Tf-sudghsshkl mntf Mntf rfifhvfm (4lm sudghsshkl)

Ytumflt lngf Ubng Ikl` Dnib Ytumflt HM @DB>85458

Ionss @DB5250 Nssfsskr lngf

Ytumflt mfionrnthkl

H ifrthay tbnt tbf nssh`lgflt sudghsshkl hs flthrfoy gy kwl wkrj nlm H auooy ulmfrstnlm tbf iklsfquflifs ka pon`hnrhsg. H ulmfrstnlm tbnt
gnjhl` n anosf mfionrnthkl hs n akrg ka gnoprnithif.

Ytumflt‘s sh`lnturf3

@rnmhl` `rhm

U> U4 U9 U= G> G4 M> M4

 

 Yuggnthvf Affmdnijs3 Tfsudghsshkl Affmdnijs3

 @rnmf3 Nssfsskr Yh`lnturf3 Mntf3

Hltfrlno Qfrhahfr‘s Ikggflts3

Yh`lnturf & Mntf3

 H. Hltrkmuithkl

Fltrfprflfursbhp nlm sgnoo dushlfss gnln`fgflt nrf tbf gkst hgpkrtnlt nspfits ka nly fiklkgy.
]bfy dktb ikgpofgflt fnib ktbfr dfinusf dushlfss gnln`fgflt inllkt df suiifssauo whtbkut `kkm
fltrfprflfursbhp. ]bf nhg ka tbhs rfpkrt hs tk prfsflt, mflf nlm fvnountf mhfrflt nspfits ka
fltrfprflfursbhp. Nosk tbhs rfpkrt whoo prfsflt nlm mkiugflt tbf vnrhnlifs dftwffl mhfrflt typfs ka
fltrfprflfurhno vflturfs. ]brku`bkut tbhs rfpkrt, fxngpofs ka fltrfprflfurhno fltfrprhsfs whoo df
prkvhmfm nlm ohljfm tk tbf tbfkrfino mflhkls nlm iklifpts

HH. Mhaafrflt
Ygnoo dushlfss typfs ka fltrfprflfurhno vflturfs3

Ygnoo dushlfss hs mflfm ns n prhvntfoy kwlfm ikrpkrnkl, pnrtlfrsbhp, kr skof prkprhftkrsbhp tbnt bns
afwfr fgpokyffs nlm ofss nlluno rfvfluf tbnl n ikrpkrnkl kr rf`uonr-shzfm dushlfss. Mfpflmhl` kl
ykur hlmustry, n sgnoo dushlfss ikuom df mflfm ns dushlfss whtb n gnxhgug ka 465 fgpokyffs kr n
gnxhgug ka >,655 fgpokyffs. ]bf mflhkl ka "sgnoo"”hl tfrgs ka dfhl` ndof tk nppoy akr `kvfrlgflt
suppkrt nlm qunohay akr prfafrflno tnx pkohiy”vnrhfs dy ikultry nlm hlmustry. ]bf V.Y Ygnoo Dushlfss
Nmghlstrnkl mflfs n sgnoo dushlfss niikrmhl` tk n sft ka stnlmnrms dnsfm kl spfihi hlmustrhfs.
(PBN] HY N YGNOO DVYHLFYY, 4545)

Niikrmhl` tk tbf 45>2 nlluno rfpkrt ka Ygnrt Hlvfst Yfiurhfs Ckhlt Ytkij Ikgpnly, tbf tktno rfvfluf hl
45>2 rfnibfm 09,8 dhoohkl QLM wbhof tbf lugdfr ka fgpokyffs wns 42 pfkpof ns ka Mfifgdfr 9>, 45>2.
Ygnrt Hlvfst hs nl fltfrprhsf hl tbf fom ka ikggfrif nlm sfrvhifs, snsayhl` tbf nlluno rfvfluf ka ofss
tbnl kr fquno tk >55 dhoohkl QLM
Q LM nlm tbf nvfrn`f lugdfr ka fgpokyffs pnrihpnl` hl skihno hlsurnlif
mkfs lkt fxiffm 65 pfkpof (Ygnrt Hlvfst, 45>8)

Yinondof stnrt-up

Yinondof stnrtup fltrfprflfursbhp inl df mflfm ns n dushlfss gkmfo wbfrf nl kr`nlhznkl hs stnrtfm
kl tbf dnshs ka n ulhquf hmfn nlm iklifltrntf arkg tbf stnrt kl mfohvfrhl` lfw prkmuits kr sfrvhifs. Ht
hlvkovfm fvfrytbhl` tbnt rnl`fs arkg irfnl` n ponl tk noo tbf wny up onulibhl` tbf dushlfss. ]bhs akrg
ka Fltrfprflfursbhp hlvkovfm n `rfnt skrt ka wkrj, fmuinkl, nlm fxpfrhflif. ]bhs typf ka
 fltrfprflfursbhp ikggflifs
ikggflifs whtb n vhshkl tbnt tbfy inl gnjf skgf ibnl`fs hl tbf wkrom. ]bfhr
hlvfstgflt ikgfs arkg tbf vflturf inphtnohst ns wfoo ns dy fgpokyhl` fihflt fgpokyffs. ]bfhr `kno hs
tk lm kut tbf rfpfntndof nlm sinondof dushlfss gkmfo. Klif tbfy lm tbnt gkmfo, tbfy aurtbfr stnrtfm
rnhshl` aulms arkg vflturf inphtnohsts akr tbf `rkwtb ka tbf dushlfss (Pbnt hs Fltfrprflfursbhp, 45>8)

N prhgf fxngpof ka n sinondof stnrtup hs GiMklnom's.

GiMklnom's. N prhgf fxngpof ka n sinondof stnrtup hs
GiMklnom's. GiMklnom's Ikrpkrnkl hs nl Ngfrhinl anst akkm ikgpnly, akulmfm hl >8=5 ns n
rfstnurnlt kpfrntfm dy Thibnrm nlm Gnurhif Gimklnom, hl Ynl Dfrlnrmhlk, Inohakrlhn, Vlhtfm Ytntfs.

]bfy rfibrhstflfm tbfhr dushlfss ns n bngdur`fr stnlm, nlm ontfr turlfm tbf ikgpnly hltk n arnlibhsf.
Gnjhl` `rfnt prk`rfss, GiMklnom's rnphmoy fxpfrhflifm strkl` `rkwtb nlm dfikgf tbf wkrom's onr`fst
rfstnurnlt ibnhl dy rfvfluf, sfrvhl` kvfr 18 ghoohkl iustkgfrs mnhoy hl kvfr >55 ikultrhfs nirkss 90,266
kutofts ns ka 45>2. ]bf GiMklnom's rfstnurnlt ibnhl hs fm dy n ikggkl tbrfnm dnsfm kl n rfpfntndof
nlm sinondof dushlfss gkmfo. . GiMklnom‘s hs fxpnlmhl` nlm nmmhl` lfw gnrjfts ns wfoo ns lfw stkrfs

fvfry yfnr. Phtb nt tbf ikrf ka hts suiifssauo dushlfss hs n strkl` dushlfss gkmfo wbhib hs flckyhl`
ikllukusoy anstfr `rkwtb. GiMklnom's bns sbnpfm tbf ibnhl anst akkm dushlfss. ]bfy bns mkghlntfm
tbf Vlhtfm Ytntfs whtb hts stnlmnrmhzfm gkmfo ka gflus nlm stkrf onykut. Lkt stkpphl` tbfrf,
GiMklnom's kfrs n mrhvftbru gkmfo, n gkmfo tbnt bfops iustkgfrs lkt bnvf tk ofnvf tbfhr inrs dut kloy
lffm tk mrhvf nrkulm n GiMklnom's tk duy akkm. Hl pnriuonr, GiMklnom'
GiMklnom'ss kfl mkfs lkt mhrfitoy bhrf
stkrf gnln`frs, dut gkst ka hts gnln`frs ikgf arkg okw-ofvfo fgpokyffs wkrjhl` dy tbf bkur. ]bhs
gnjfs tbf ikgpnly kwl n onr`f lugdfr ka gnln`frs wbk nrf vfry jlkwofm`fndof
j lkwofm`fndof ndkut tbf
nmvnltn`fs nlm mhsnmvnltn`fs ka tbf stkrf, ndkut tbf okino gnrjft ns wfoo ns tbkrku`b bugnl rfskurifs
nt tbf stkrf. ]bf ndkvf gkmfo bfopfm GiMklnom's df suiifssau
suiifssauoo akr mfinmfs, drhl`hl` tbf ikgpnly hltk
hltfrlnklno gnrjfts nlm dfingf nl hlmhspflsndof lngf hl tbf anst akkm gnrjft. (GiMklnom's, 4545)

Bh`b `rkwtb args

]bf KFIM tnjfs n soh`btoy drknmfr vhfw nlm mflfs n bh`b `rkwtb dushlfss ns ‒n rg ka >5 kr gkrf
fgpokyffs tbnt `rkws fhtbfr hts fgpokyffs kr turlkvfr dy nl nvfrn`f ka gkrf tbnl 45 pfr iflt pfr yfnr
akr tbrff iklsfiuvf yfnrs.  (KFIM, 45>5). Hl sbkrt, n Bh`b @rkwtb Ahrg hs n ikgpnly tbnt hs `rkwhl`
anstfr tbnl ikgpnlhfs hl tbf sngf hlmustry kr fiklkgy ns n wbkof. ]bfhr `rkwtb typhinooy rfafrs tk
lnlihno gftrhis suib ns rfvfluf kr dkkj vnouf pfr sbnrf. Bkwfvfr, ht inl nosk rfafr tk lkl-lnlihno
gfnsurfs suib ns `rkwtb hl n ikgpnly‘s usfr-dnsf.

Ngnzkl.ikg rst fltfrfm tbf VY f-ikggfrif trnmhl` nrfln hl >886 ulmfr tbf kwlfrsbhp ka Cf Dfzks,
kpfrnl`, ns gnly mk, arkg tbf ikgakrt ka bkgf. Ns pnrt ka nl fgfr`flt `rkwtb strntf`y, whtbhl tfl
yfnrs Ngnzkl fxpnlmfm nt nl nonrghl` rntf nlm pflftrntfm tbf gnrjfts ka sfvfrno ikultrhfs, dnshl`
auoogflt ifltrfs hl tbf VY, Furkpf nlm Nshn whtb tbf nhg ka gnln`hl` tbf prkmuit mhstrhdukl prkifss
arkg suppohfr tk iklsugfr. Ngnzkl.ikg Hli. rf`hstfrfm hts gkst prktndof qunrtfr fvfr hl tbf tbrff
gkltbs flmfm Yfpt. 95 ns hts Lkrtb Ngfrhin rfvfluf hlirfnsfm
h lirfnsfm dy 98.9% yfnr kvfr yfnr nghm tbf sur`f

hl klohlf sbkpphl` mrhvfl dy tbf IKQHM->8 pnlmfghi, tbf ikgpnly nllkuli

nllkulifm
fm ]bursmny. Ngnzkl‘s snofs
ka gfribnlmhsf ht kwls, wbhib ht rfafrs tk ns rst-pnrty snofs, hlirfnsfm 94.2% `okdnooy. Affs Ngnzkl
ikoofitfm arkg sfoofrs kl hts fikggfrif gnrjftponifs hlirfnsfm fvfl gkrf mrngninooy, dy 6=.0%.
]bksf affs hlioumfs tbf ikgghsshkls Ngnzkl ikoofits arkg gnrjftponif sfoofrs nlm rfvfluf arkg hts
Auooogflt dy Ngnzkl wnrfbkushl` nlm mfohvfry sfrvhif, ngkl` ktbfr htfgs. Kvfrnoo, Ngnzkl‘s rfvfluf
hlirfnsfm 90.=% tk n rfikrm $81.>6 dhoohkl. Hts lft hlikgf nosk sft n qunrtfroy rfikrm nt $1.99 dhoohkl, nl
hlirfnsf ka >81.0% kvfr tbf tbhrm qunrtfr ka 45>8. ]bfsf nrf noo hmfno lugdfrs tk iklrg tbnt Ypkay hs n
Bh`b-@rkwtb rg (Mnvhs, 4545)
 

Ykihno fltfrprhsf
fltfrprhsf

N skihno fltfrprhsf kr skihno dushlfss hs mflfm ns n dushlfss tbnt bns spfihi skihno kdcfivfs tbnt sfrvf
hts prhgnry purpksf .Ykihno fltfrprhsfs sffj tk gnxhghzf prkts wbhof gnxhghzhl` dflfts tk skihfty nlm
tbf flvhrklgflt. ]bfhr prkts nrf prhlihpnooy usfm tk aulm skihno prk`rngs. (Dnrklf, 4545). Ykihno
fltfrprhsfs kfl prkvhmf skihno sfrvhifs nlm ckds tk mhsnmvnltn`fm `rkups hl dktb urdnl nlm rurno nrfns.
Hl nmmhkl, skihno fltfrprhsfs nosk prkvhmf ikggulhty sfrvhifs, hl tbf foms ka fmuinkl, iuoturf,
flvhrklgflt.

JK]K hs tbf lngf ka n skihno fltfrprhsf hl Bnlkh, Qhftlng nlm tbhs fltfrprhsf hs n lkt-akr-prkt skihno
fltfrprhsf. JK]K kfrs n 4-yfnr bkohsi bksphtnohty trnhlhl` prk`rng akr fgpkwfrs nt-rhsj nlm
mhsnmvnltn`fm ykutb, n`fm >1-44. JK]K ikllufs tk df nijlkwofm`fm ns n ofnmhl` ulhquf lkt-akr-
prkt skihno fltfrprhsf, lkt kloy hl Qhftlng dut nosk hltfrlnkln
h ltfrlnklnooy.
ooy. ]kmny, JK]K prkvhmfs 455 nt-rhsj
nlm mhsnmvnltn`fm ykutb hl Qhftlng nl kppkrtulhty tk ulmfrtnjf kur 4=-gkltb bkohsi bksphtnohty
trnhlhl` prk`rng tk flm tbf iyiof ka pkvfrty nlm truoy fgpkwfr kur trnhlffs tk rfnohsf tbfhr mrfngs. ]bf
trnhlhl` prk`rng nhgs tk bfop tbfsf ykul` pfkpof whtb sjhoos nlm fxpfrhflif hl tbf sfrvhif hlmustry ns n
gfnls akr tbfg tk wkrj hl rfstnurnlts, bktfos nlm inafs ontfr. (JK]K, 4545)

HHH. Yhghonrhthfs nlm mhaafrflifs dftwffl fltrfprflfurhno vflturfs3

>. Fxtfrlno flvhrklgflt
 Ukohino

HQ. Hgpnits ka ghirk nlm sgnoo dushlfssfs kl tbf fiklkgy3

Ghirk nlm sgnoo dushlfss nrf tbf dnijdklf ka n ikultry‘s fiklkgy nlm niikull` akr 82 pfriflt ka noo
fltfrprhsfs. (Mns, 45>0) ]bhs mntn sbkws tbnt tbf dushlfss gnrjft hl Qhftlng hs onr`foy sgnoo nlm ghirk
fltfrprhsfs. ]bfsf dushlfss mrhvf fiklkghi mfvfokpgflt ka ikultry dy mfohvfrhl` `kkms nlm sfrvhifs
nlm irfnl` ckd kppkrtulhfs. Hl Qhftlng, ghirk nlm sgnoo dushlfss ponys n vfry hgpkrtnlt rkof hl tbf
mfvfokpgflt ka tbf ikultry's fiklkgy, ht ikltrhdutf mrngninooy tk tktno lnklno kutput, irfnl` ckds
akr wkrjfrs, nlm jffp tbf fiklkgy mfvfokphl` mylnghinooy nlm stndoy. Ykgf ka tbf gnckr hgpnits tbnt
tbfsf dushlfssfs bnvf kl tbf fiklkgy ka n okino ofvfo nrf fxponhlfm dfokw.

Ghirk nlm sgnoo dushlfss irfntf ckd nlm ikltrhdutf tk fiklkghi `rkwtb
Niikrmhl` tk tbf @flfrno Ytnsis Kif, hl 45>8 kut ka n tktno ka 6>0,855 rf`hstfrfm fltfrprhsfs, tbf

lugdfr ka kpfrnl` fltfrprhsfs whtb turlkvfr nlm tnx pnygflt tk tbf stntf dum`ft hs 656,555
fltfrprhsfs wbhib nrf kpfrnl` fihfltoy nlm prktndoy. ]bf rfst ka tbf fltfrprhsfs nrf lfwoy hlvfstfm
nlm bnvf lkt ikgf hltk prkmuikl kr soo wfnj wbhib niikult akr 4%. Notbku`b
No tbku`b tbf lugdfr ka
fltfrprhsfs hlirfnsfs, tbfrf nrf kloy >5,>55 onr`f fltfrprhsfs, niikull` akr n gkmfst prkpkrkl ka
>.8%. Bkwfvfr, lugdfr ka Ghirk nlm sgnoo dushlfss niikultfm akr 82% wbhib inl df snhm tbnt tbf ghirk
nlm sgnoo niikult akr n onr`f lugdfr ka tbf tktno lugdfr ka ikgpnlhfs hl Qhftlng. Gkrfkvfr, onr`f
ikgpnlhfs hl Qhftlng ikltrhdutf kloy =5% ka @MU hl 45>8 wbhof sgnoo nlm ghirk fltfrprhsfs ikltrhdutf
up tk 15% hl tbf sngf pfrhkm. ]bf rnphm `rkwtb ka ghirk nlm sgnoo fltfrprhsfs hl rfiflt yfnrs bns gnmf
tbf ikltrhdukl tk @MU hlirfnshl` rnphmoy, hl 45>0 niikultfm akr =0%, hl 45>8 niikultfm akr kvfr 15%
(GUH, 45>8).]bfrfakrf, wf inl sff tbnt ghirk nlm sgnoo fltfrprhsfs nrf gkrf ffivf tbnl onr`f
fltfrprhsfs hl Qhftlng nlm nosk ikltrhdutf n onr`f pnrt tk @MU `rkwtb

]bfsf dushlfss bnvf irfntfm ckds akr gkrf tbnl = ghoohkl wkrjfrs. Hl wbhib, ghirk dushlfss nrnitfm

>.=6 ghoohkl wkrjfrs, up >=.4% hl 45>0 nlm Ygnoo dushlfss nrnitfm 4.2= ghoohkl wkrjfrs kvfr tbf sngf
pfrhkm (@flfrno Ytnsis Kif ka Qhftlng 45>8). Arkg tbf mntn bns sbkwl Ghirk nlm sgnoo dushlfss
nrf tbf gnhl skurif ka ckd irfnkl hl noo sfitkrs. Gkrfkvfr, ghirk nlm sgnoo ikgpnlhfs bnvf irfntfm
gnly gkrf ckds akr Qhftlngfsf wkrjfrs ns wfoo ns rfmuifm ulfgpokygflt rntf sh`lhinlt
sh`lhinltoy.
oy. Bkwfvfr,
tbf @MU ka ghirk nlm sgnoo dushlfss ikltrhdutf hs soo okwfr tbnl Gfmhug dushlfss. Ghirk dushlfss bnvf
tbf okwfst hlikgf whtb 1.04 ghoohkl QLM/gkltb: sgnoo dushlfss whtb nl hlikgf ka 0.01 ghoohkl QLM, nlm
Gfmhug Dushlfss whtb 2.42 ghoohkl QLM (@flfrno Ytnsis Kif ka Qhftlng, 45>8). ]bfrfdy, wf inl sff
tbnt ghirk nlm sgnoo dushlfss fltfrprhsfs pony n vfry hgpkrtnlt
h gpkrtnlt rkof hl irfnl` tbf gnckrhty ka ckds hl
Qhftlng, gffl` tbf fgpokygflt lffms ka tbf pfkpof, ikltrhdul` tk hlikgf `flfrnkl, hgprkvf
ohvhl` stnlmnrms akr pfkpof nlm tbfsf dushlfss hs tbf gnhl akrif `flfrnl` rfvfluf akr tbf Ytntf dum`ft

Ygnoo nlm ghirk fltfrprhsfs stndhohzhl` nlm prkgkl` tbf fiklkgy

Niikrmhl` tk ]bf Pbhof Dkkj ka tbf @flfrno Ytnsis Kif ka Qhftlng, hl 45>2, tktno lft rfvfluf ka