Drastic measures needed to arrest free fall of economy - The Daily Guardian
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Drastic measures needed to arrest free fall of economy

Ajay Shukla

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RBI Governor Shaktikanta Das.

Reserve Bank of India (RBI) Governor Shashikanta Das agreed that the growth rate of GDP in the present FY (2020-21) is expected to be negative, thereby endorsing the audit report of the International Monetary Fund (IMF) and the World Bank.

Undoubtedly, it will take long time to put the economy back on tracks so that it could be restored to normalcy, given the Covind-19 pandemic impacting all the sectors in India. A high-level committee has also been set up to draft a plan for corporate loans.

There is a plan framed for loans for the small businesses which are facing financial distress. While the RBI governor was blaming Covid-19 epidemic for the flagging economy, what he forgot was that the GDP rate was at its lowest in 6 years in the second quarter of 2019. The unemployment rate had broken all records of the last 45 years.

 Apparently going by the assessment made by his economic advisors, Shaktikana Das claimed to turn around the economic scenario to the extent of achieving economy of $5 trillion by 2024, while the global economists stated that 4.5 % growth rate of GDP cannot fulfill this dream. What they mean is that the country’s economy won’t lift by then.

What is visible is that the efforts are being made to cover up the failure vis-àvis economic development, and the excuse for that is Covid-19 pandemic.

As a matter of fact, the economy, which was already in a bad shape, took turn to worse on account of Covid-19. On the contrary, Government is concealing the statistics of NSSO instead of dealing with the situation. The government is doing so for the reason that compared to the last 40 years there is a considerable decrease in consumer expenditure during current FY.

Now the Governor of RBI, historian Shashikant Das has also admitted that the country’s economy is going through a bad phase. The plans made by the Government to deal with this situation are not sufficient as the facts emanating from the appraisal meetings indicate a big disaster waiting to happen in the banking sector. According to them, the bad loans have peaked to Rs 12 lakh crore. Global economist and former RBI Governor Raghuram Rajan has estimated that the bad loans shall peak beyond Rs 20 lakh crore in the current FY.

What does it mean? It means that all the banks of the country are on the verge of collapse and they are looking for relief from the government but what it has done it has merged a few more banks and is moving forward for privatisation of the banks. This is not any solution as the MSMEs have clarified that they are not in a position to repay their loans for want of a credible policy. This sector will take a long time to recover on account of Covid-19 and this shall have a definite impact on other sectors.

 Media sector is also passing through a severe financial distress, with advertisements having shrunk. It can be understood that the distress of the MSME sector indicates massive decline in employment opportunities and people’s spending power.

The effects of bank being in distress and the negative GDP are destined to have a disastrous impact. Inflation has doubled compared to the returns on the investment in the banking and non-banking sector. More than 3000 companies have filed for bankruptcy and such is the number of companies waiting to file for bankruptcy. Meanwhile the Government has stopped this process.

It is clear that the foundation of the banking sector has collapsed. The policy makers are pressing RBI to keep minting currency. Whenever currencies are minted unreasonable inflation is bound to rise. There was a time when the nationalization of banks has instilled confidence in citizens, which is fading away now. Privatization of the public sector banks is underway resulting in failure of optimal returns on investments. You are bound to be stressed when the banking sector is on the verge of collapse and your money unsafe. You cannot keep money at home and there is no reliable place for investment. This is the reason for the rise in investments in gold.

RBI has decided to grant 90% loan against gold. In these times of distress your requirements of loans against other assets are not forthcoming. This is pushing the industry in the worst situation. Selfreliant plan is confined to the desk only. Employment of a general worker is being snatched away. Government has admitted before the Parliamentary Committee that 10 crore jobs have been lost due to this pandemic. Expectedly the purchasing power of people will be reduced drastically. Sale of passenger vehicles has fallen to 49.59 percent.

 You might remember that when the Union budget was passed on 23 March wherein the outlay for the income and expenditure showed the crumbling economy to be resulting from Covid-19 epidemic. Now all the Government estimates of incomes are being proved baseless. Reduction in expenditure is also not showing results. Government funds are being spent more on lavish expenditures and functions than on public welfare. Steps to sell revenue generating public sector companies are underway to garner funds. Public sector Insurance companies, which provided safety insurances to the public, are also being sold. In these circumstances it is imperative that people shall avoid investing in these companies. On the other hand, Finance Secretary has clarified that he is not in a position to provide the state’s shares of the revenue in the first quarter and the states are in a predicament as they use this revenue to pay salaries to their employees. If they do not receive their share of revenue then they shall be forced to reduce the employees and their salaries, a step that will increase unemployment and poverty rapidly. Works of public welfare and development shall cease and the governments will be forced to sell their properties to garner funds for income and the public will be stuck in quicksand of poverty and corruption.

The need of the hour is that the government should not blow estimates but should draft foresightedly reliable plans. Transparency and accountability in government function should be ensured. This is the testing time for economy and development. The government should increase the spending power of the common man by providing incentives and drafting plans so that the industry may be revived and if steps are not taken well in time then we should be ready to face disastrous results. For want of farsightedness and in pursuit of personal agendas the plans of the government create troubles not solutions.

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As an actor, I can only use my medium to bring about awareness: Taapsee Pannu

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Actress Taapsee Pannu recently joined NewsX for a insightful conversation as part of NewsX India A-List. In the interview, she spoke about her latest film “Rashmi Rocket” that throws light on the issue of gender testing in sports. In the exclusive conversation, Taapsee spoke about how she handled the tough or uncomfortable scenes in the movie, how gender testing impact players and much more. Read excerpts:

Speaking about the factors that convinced her to play “Rashmi Rocket”, Taapsee said, “Two reasons: first was I love sports. I love to follow sports. For me, sport stars are real heroes. I am in awe of them, so when I got to know about this particular testing, how it only done on females, it was shocking for me that someone like me, who loves sports so much, had no clue about something so crazy happening even till date.”

Sharing insights on the practice of gender testing across the world, she said, “Yes, this happening all over the world. Even in last Tokyo Olympics, there were two Namibian players, who were banned because of same gender testing. As an actor, I can only use my medium to bring about a certain kind of awareness and discussions. I can’t assure that the change will happen. It is not like after Pink, the molestation or rapes stopped. It is not like after Thappad, the domestic violence stopped. However, at least the conversions started. The topic became a mainstream or dining table conversation, not just keeping it under wraps.”

When asked about how she is able to handle these tough scenes in her films, she responded, “I’ve been living with this script through the lockdown. Actually it been in my head when I heard it in 2018, so it has been there in my head since then. As I just told you, I was so shocked to hear that this still happens. When the script came in my hand and the screenplay was ready, we were in early 2020. Since then, I’ve been living with it at the back of my head, so I was already mentally prepared to dive into it. How to get rid of it was like, as an actor, you feel a sense of accomplishment if it affects you in real, if it actually makes me pause and take a little while to get back to reality. That means I have done a decent job doing it, so that happens doing that job. If have felt it inside, it mean the camera would have captured it. So, that sense of happiness helps me get out of it because then I feel, “okay, I did my job, I did what was in my hands to push this topic out, now let’s be ready to see what the audience does”, so that happiness makes me get out of the role.”

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Mast Barsaat is a tribute to Wajid Khan: Soundarya Sharma

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Actor Soundarya Sharma recently joined us for a candid chat as part of NewsX India A-List. In the exclusive conversation, the actor opened up about her debut music video Mast Barsaat, sharing the screen space with Salman Yusuf Khan, experience of shooting in the new normal and much more. Read excerpts:

Talking about the response she has been getting for her music video and receiving a shout out from Salman Khan, Soundarya said, “It has been overwhelming. It is amazing to start my music video, which is my debut music video with Sajid ji. This is a tribute to Wajid sir. What a way to start with Salman sir tweeting. He supported our song and he totally loved it. Apart from that, everyone is loving it. They have told us that it is growing on them – the feelings, the music. In the song, there is only harmonium that is playing. There are no electronic progressing or anything. It is a very organically made and done song, so that it is very rooted. The response has been amazing.”

When asked what made her choose Mast Barsaat as her debut music video, Soundarya responded, “I didn’t choose it to be my song. The song chose me. I auditioned for it. I met Sajid ji. Everybody auditioned for it. He was looking for someone who really can enact. He said that the song is really close to our heart and I want somebody to portray the emotions the same way we have made it, with the same love. When he called me, I was super thrilled and excited. He asked about my profile. It worked for me. Ultimately, it should work for us. We connected over the feelings of the song. When Taleem studios shortlisted me, I was really thankful.”

Sharing her experience of working with Salman Yusuf Khan, the actor said, “Very nice. I think he is very professional and he is a really nice guy. He really comforted me. He, himself, is a dancer, performer so he made it really easy for me to work because we decided to shoot in a very short span. We shot for more than 23 hours in a row, so for that you really need a performer to be gelling with you. We were just chilling and working. “

Speaking about shooting for the song in a new normal, Soundarya said, “The new normal, apparently, is actually not that normal because it was scorching. When we shot, it was very hot and everybody was wearing masks but then we were so energised and pepped up by the song that none of us felt even for once that we are exhausted, we are tired. We were so moved by the entire feeling and the enthusiasm to work towards it. I think some things are meant to happen and this was meant to happen for all of us.”

As the pandemic struck the world, Soundarya found herself stuck in Los Angeles, where she was taking an acting course. “I took up the acting course in Los Angeles with New York Film Academy. I was there for 1.5 year and then I was stuck in pandemic. You end up becoming a better human being, learn so many things. Pandemic has taught us so many things in life. I felt like I don’t know what is next, whether I would be able to finish my course. Forget about work, it was a challenge to be on your own and living in a new country. But, I think god is kind. Everything ended well and I am here. I got work,” she further shared.

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DPS R.K. Puram: Celebration of an odyssey of 50 years

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Delhi Public School R.K. Puram, one of the most prestigious schools in India, was founded in 1972 in New Delhi. The school upholds the founders’ commitment to excellence in the all-round development of the students, with emphasis on its motto Service Before Self. The school is extremely proud of its illustrious alumni who continue to uphold the ideals of the school and have impacted society greatly in every sphere of life. DPS R.K. Puram has received the Education World Award as the No.1 Day-cum-Boarding School (2020-21) in India.

On 2 October, Delhi Public School, R. K. Puram organised a curtain-raiser to the official launch of the six-month-long celebration of the golden jubilee of the institution. The event was attended by renowned alumni of the school. The school plans to organise a plethora of activities to commemorate the 50 years of excellence by organising alumni guest speaker programmes, alumni reunions in different parts of the world, cultural programmes involving the present and former students, collage of video messages of alumni from all over the world to inspire the current students and the culmination of all these events at the grand celebration in 2022.

The event commenced with a lively dance performance by the students as an ode to Lord Ganesha with drum beats followed by a graceful Garba performance. The chief guest, VK Shunglu, Chairman of the DPS Society and DPS RK Puram Managing Committee inaugurated the ceremony by lighting the lamp and unveiling the logo of the 50th anniversary. A cake baked by Aadishwar Singh, a student of class XII was cut to mark the occasion. It was followed by a splendid rendition of ‘Vaishnav Jana Toh’ through Indian and Western instrumental fusion. This was followed by a nostalgic presentation of DPS R.K. Puram through ages.

The Principal, Padma Srinivasan warmly welcomed the Chairman along with the former Principals; Shyama Chona and D.R. Saini. She quoted Mahatma Gandhi, by saying that with the burning passion within each individual one can alter the course of history. She said, while we must reflect on the glories of the past, we must also look to the future and aim to transform lives with education as the school has done so ably in the past five decades. She thanked the chairman, V.K. Shunglu for his guidance, constant unceasing support, his spirit of empathy in covid times and for being a leader who thinks from the heart. She further emphasised how 1972 and 2022 are connected by a belief that transcends time; that education can transform lives. To conclude her address, she asked the alumni present to start a movement and give back to the society what the school has given to them and firmly stand by the motto of ‘Service before Self.‘ Following this was a graceful Kathak dance rendition on the song ‘Ghar More Pardesiya.’

Sooraj Dhawan and Sudeepta Chaterjee coordinated and compèred the programme for the alumni group and presented video messages from them. A video showcasing the drone footage of Delhi Public School, R.K. Puram, Vasant Vihar and East of Kailash was screened, magnifying the nostalgia of the alumni in the audience. A self-composed song by the alumni and the students helped reminisce the years gone by and rejoice in the celebrations.

V.K. Shunglu, in his address, reiterated the importance of focusing on what we do in the next fifty years so that we modernise at a fast pace and keep abreast with the challenges of a fast-moving world and keep the banner of the school flying high. The vote of thanks was proposed by the Vice Principal, Renu Nayyar. In the closing note, Padma Srinivasan expressed her appreciation for the alumni who actively participated in the cultural programmes of the day. The programme concluded with the national anthem.

The school plans to organise a plethora of activities to commemorate the 50 years of excellence by organising alumni guest speaker programmes, alumni reunions in different parts of the world, cultural programmes involving the present and former students, collage of video messages of alumni from all over the world to inspire the current students and the culmination of all these events at the grand celebration in 2022.

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Water ioniser: A boon for healthy living

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As per Medical research, the major root cause for more than 90% of modern-day health disorders includes heart stroke, cancer, diabetes, thyroid, gastric, and many other issues are oxidative stress, acidic environment, and hypoxia.

OXIDATIVE STRESS

Oxidative Stress caused by free radicals makes a significant contribution to all inflammatory diseases, ischemic diseases, gastric ulcers, hypertension, and preeclampsia and neurological disorders.

ACIDIC ENVIRONMENT

The second major threat to our health is caused by stress caused by the acidic environment around us.

HYPOXIA

The third threat to our well-being is hypoxia. Hypoxia is a condition in which the body or a region of the body is lacking adequate oxygen supply at the tissue level.

The food we take, the water we drink, the air we inhale, our habits, genetic conditions all contribute to our overall lifestyle. A good lifestyle is the best practice to be healthy, happy, and fit enough. Our drinking water plays a very crucial role in our overall healthy lifestyle. At every point, we should not only need to check the safety of our drinking water, but more importantly, we also need to be sure it is healthy or unhealthy.

Drinking water which undergoes reverse osmosis type of purification is dead water without useful minerals, acidic in nature making internal body pH balance tough, having bigger clusters difficult to get absorbed by body cells. Most importantly the oxidant nature combined with the acidic nature of reverse osmosis purified water adds extra free radicals that weaken our immunity power. Oxidative stress and free radicals are the biggest threat and root cause of more than 75% of health disorders.

For complete family health protection, switch on to Ionised alkaline water which has rich sources of essential alkaline minerals and selective Anti-Oxidant molecular hydrogen.

Ionised alkaline water helps in restoring the right pH balance between the acidic and alkaline conditions in the human body. It neutralises disease-causing free radicals, helps in reducing inflammation.

Ionised alkaline water is micro-clustered. This helps our body cells to absorb more water easily, quickly, and with effective transportation of oxygen and important nutrients to vital organs of the body. This further improves Hydration and detoxification levels. It helps in reducing joint pains, improves metabolism and energy, slows down the aging process and helps in boosting immunity.

The research on molecular hydrogen on Covid-19 has shown promising results where the antioxidant nature of hydrogen helps in preventing the disease onset and also helps in reducing the disease severity in Covid-19 affected patients.

By looking at the enormous health benefits of the Hydrogen-rich Ionised Alkaline water, Medilight Pvt Ltd thought of introducing water ioniser machines in India. Medilight Private Limited found the perfect product which uses a fourth-generation technology water ioniser machine which is a solution to battle air, water and food pollution. This worldwide patented fourth-generation Disc Ionisation technology is available only in Taiwan.

Early in the year 2016 Medilight bought that technology and introduced their own brand name “H Rich” alkaline water Ioniser. In the year 2017, Medilight collaborated with the world-renowned water ioniser brand “Tyent”, a Japanese technology-made water ioniser machine from South Korea which has extensive market coverage in the USA, Europe and Australia.

Health benefits are clinically tested and certified by research. In short, your healthy drinking water can drive your metabolism on the right track in the correct way. It’s a good solution and an investment idea for your family’s health for the next 20 years.

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FOCUSED ON GIVING BEST TECHNOLOGY AT AFFORDABLE PRICING: AVNEET SINGH MARWAH

In an exclusive conversation with NewsX India A-List, Avneet Singh Marwah spoke about what sets his company Super Plastronics Ltd apart from other players, expectations from the festive season, impact of pandemic, and much more.

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Avneet Singh Marwah, Director & CEO, Super Plastronics Pvt Ltd, joined NewsX for an exclusive conversation as part of NewsX India A-List. In the exclusive conversation, Avneet spoke about what sets his company Super Plastronics Ltd apart from other players, expectations from the festive season, impact of Covid and much more.

Giving us an insight into Super Plastronics Ltd and what sets it apart from other players in this competitive market, Avneet said, “Super Plastronics is about a 30-year-old company. We started with plastic moulding of television back then for CRT and then we started manufacturing CRT. We are a complete backboned integrated plant and that experience was forward toward manufacturing LCDs and now LEDs, 4K TVs, USDs. The company invested. Back then, we were completely “Atmanirbhar” for CRT televisions, now we are again in LED televisions. We are a complete backbone integrated plant and we have everything in house, from plastic molding to SMDs to cleanroom and assembly line. Currently, we have about five brands, starting from Kodak, then Thomson-we launched in 2018, after that we launched Globewarm, recently we launched Westinghouse televisions and then we have white Westinghouse by Electrolux- our appliance in washing machine brand. We are one of the largest brand licenses in India and second-largest television manufacturing in India right now.”

He added, “In terms of selling, we currently selling more than 18,000 pin codes in India. We are on top 2 of online selling brands. Our major strategic partner is Flipkart. For Kodak, it is available across online and offline, both. We have a vast service network of more than 550 service center that are company-owned and about 20 warehousing, we have one manufacturing unit in Noida and there are two manufacturing units that are coming up.”

Talking about his expectations from this festive season, Avneet said, “The festive season for any electronic brand is about 35% to 40% of the year. As I told you that we are online and offline, so there are three major sales that come to online. This time, the sales started a bit early, so it is a very important month for us, then the Dussehra sales comes and then “Dhanteras”. The majority of the season is covered in this. We have done a couple of new launches. There are more launches that are coming up this festive season. The company is completely focused on how we can give you the best technology at affordable pricing.

When asked whether there has been an issue of demand-supply gaps because of the Covid situation, Avneet responded, “When the first wave hit, there was a lot of pent-up demand. One of the reasons was the whole world was on screen and work from home. Classes were going online, and then there were OTT platforms to entertain you in the evening. At that point of time, there was a huge spike in terms of buying of screens and televisions, smart TVs plays a very vital role in that. There was about 30% growth but things changed after the second wave. The kind of second wave that hit India, people start saving and they were not spending their disposable incomes. The mortality rate was very high. India is a very big saving economy. After June, I would say, in April and June, the market got stagnant. But, as the economy is recovering, and the first sales show a very encouraging sign. We saw about 80% year on year growth on Big Billion days sales and Amazon’s The Great India festive sale. I think its recovering. We are hoping that Diwali has good numbers. If wave three is not hit, I think the market will recover and you will see the growth in smart TV market.”

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Around 53 Egyptian vultures spotted on Yamuna river in Delhi

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As many as 53 Egyptian vultures were spotted two days ago by an ecologist on a sandy mid-island on the Yamuna river in Delhi.

While talking to ANI, TK Roy, who is an ecologist, said, “I found 53 Egyptian vultures here two days back in Delhi, which is the largest number in the last five years. This place is suitable for them.”

Roy further informed us that there are around 47 Egyptian vultures in the area at present.

“The population is slowly rising because of a ban on diclofenac, an anti-inflammatory drug that has a toxic effect on vultures and awareness among people on vulture conservation,” the ecologist added.

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