Hey Guys,
What's wrong with CIC?
The target in 2017 was 71400, but ITAs issued were = 86023
The target in 2018 was 74900, but ITAs issued were = 89800
The target was increased by 3500 in 2018, and, therefore, 3777 extra ITAs were issued as compared to 2017.
The target in 2019 is 81400, and therefore expected ITAs should be around = 89800 + 6500 (81400-74900) = 96300
Till now, in 2019, ITA issued = 34600, and expected remaiming ITAs for 2019 = 61700.
2018: the number of draws = 25. Note: although a year has 26 fortnights, by making two 3-week draws CIC could reduce the draw numbers to 25.
By May-end CIC conducted 10 draws in 2018 and issued 31000 ITAs.
By May-end CIC conducted 10 draws in 2019 and issued 34600 ITAs.
Thus, by analogy, 15 draws are left for 2019, and this should result in around 4113 ITAs per draw if ITAs are uniformly distributed.
Some may argue that CIC has already sent extra 3600 ITAs in 2019, and I agree with this. But, the target is increased by 6500 so CIC should ideally send 2900 more ITAs as compared to 2018 in the remaining draws. For this, CIC should increase 200, 2900 divided by15 (remaining draws vide supra) ITAs in each draw as compared to 2018. So now draw size should be around 3950 for next 7 draws and 4100 for the remaining 8 draws.
For 2018, the target was increased by 3500 and CIC conducted 8 draws with 3900 ITAs, (8*400). For 2019, ??????????
I am unable to understand what's there in CIC's mind. Is CIC going to increase the draw size beyond 3900? Is it planning to send ITAs uniformly throughout the remaining year? And many more.....????????????
Suraj