As China has started scaling back the COVID-19 stimulus worth trillions of yuan launched last year, local government debt and corporate bond defaults are emerging as the prime financial risks for the communist government.
Chinese authorities are currently on high alert for financial problems, particularly in some western and northern regions, whose ability to repay credit is strained amid stimulus tapering and a decline in revenue due to the pandemic and government-mandated tax cuts, South China Morning Post (SCMP) reported. “Local debt issues, which reflect the resource-funded growth model, are problematic,” said Wu Xiaoqiu, a professor of finance at Renmin University of China, said at a seminar last week.
Fears of a debt bubble in China have already put the brakes on new developments, particularly those with high liabilities.
Earlier last month, the provincial government of Shaanxi in western China said it had suspended construction on an intercity high-speed railway network, which is estimated to be worth 50 billion yuan, after “considering fundraising and risk prevention”.
Shaanxi reported outstanding debt of 743.3 billion yuan by the end of 2020, SCMP reported citing China Local Government Bond Market Access, a newly launched government website to track public debt. The figure represents about 28.4 per cent of China’s GDP.
Beijing set a much lower-than-expected growth target of 6 per cent for this year, despite estimates from private economists that expansion could reach 8 per cent.
Many economists and policy advisers have warned that increasing debt in China could weigh on the recoveries of some financially vulnerable regions.
However, the United States and some European countries have also loosened their financial conditions to fight the economic effects of the virus, SCMP reported.
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Co-joined twin Veena and Vani pass intermediate exams with flying colours
In a sheer display of determination and will power, a co-joined twin named Veena and Vani have passed the Telangana Intermediate exams with flying colours. The twins scored first class marks, sending out a strong message of where there is a will, there is a way. While Veena secured 712 marks out of 1000, Vani scored 707 marks out of 1000 marks with CEC (Commerce, Economics, Civics) stream.
Satyavathi Rathod, Minister for Tribal, Women and Child Welfare, congratulated Veena and Vani on achieving the feat. The minister further said, «All the necessary facilities will be provided for their higher education. Veena and Vani will always have the support of the state government.» She also praised the staff personnel, who assisted the two girls.
Elated with their scores, Veena and Vani expressed the desire to become Chartered Accountants (CA). In the tenth standard, Veena and Vani had scored 9.3 GPA and 9.2 GPA respectively.
It is noteworthy that Veena and Vani were eligible to opt for special priveleges, which could have ensured additional time to write their exam, but they refused and submitted their answer sheet to the invigilator five minutes ahead of schedule.
The results for the 1st and 2nd year were announced by Telangana State Board Of Intermediate Education (TSBIE). Telangana Education Minister Sabitha Reddy announced the results. Among the 9 lakh students who appeared for the exam, the story of Veena and Vani stood out and is garnering praises across the country.
Born in 2003 in Mahabubnagar district of Telangana, Veena and Vani were cojoined from birth. Due to this, their parents stepped back from taking their responsibility and refused to take them, citing lack of resources for their treatment. Thereafter, the twins stayed in Nilopher hospital till they turned 12 and later shifted to State Home.
Despite several attempts by doctors, medical and surgical experts from not just India but also the United Kingdom and Singapore, no way has been found to separate them.
While it was earlier estimated that the procedure to separate them would cost around Rs 10 crore, it is very complex and risky as their veins are tangled up. This is the reason an operation has not be done yet.
A STEP TOWARDS SELFLESS PURSUIT OF HINDUTVA IDEALS
The party’s philosophy of “nation first, party second and self last” was drilled into every cadre not just through words but through actions.
In 1895, Swami Vivekananda was to give a public lecture in London. When it was time to stand up and speak, Swami Vivekananda suddenly announced that it was Swami Saradananda who would deliver the speech instead of him. Though taken by surprise, the learned Swami displayed his scholarly mastery over the scriptures as Vivekananda sat overjoyed intently listening to the teachings. In the following years, Swami Vivekananda would delight himself by hearing about or pouring through the newspaper cuttings sent to him of Swami Saradananda’s lectures from Boston, Brooklyn and New York. Whether it is the success of Swami Saradananda in America or pushing Swami Abhedananda to deliver the teachings of Vedanta at a club in Bloomsbury Square, Swami Vivekananda created leaders who would work on the mission while also surprising his audience. Good leaders merely create followers. Great leaders create leaders and influence generations of leaders through their selflessness. Even after his Samadhi, a whole new generation of freedom fighters right from Lokmanya Tilak to Subhash Chandra Bose drew inspiration from Vivekananda.
Devendra Fadnavis pulled a shocker by announcing the name of Shiv Sena leader Eknath Shinde as Chief Minister. As media personnel took a moment to absorb the gist of the announcement, the CM-Designate let out his profound understanding of politics saying, “Nowadays, not even a Nagarsevak (Municipal Councillor) or Gram Panchayat member lets go of his position. I am thankful to you.”
It was not just a sacrifice or selflessness of BJP Leader Devendra Fadnavis but also a victory of the ideological cause, which every BJP karyakarta works towards. A Shiv Sena leader, who stepped down from government for the cause of Hindutva, was rewarded by fellow brethren, working towards the same Hindutva mission. A political leader moving away from the position of power is a rare instance as 50 rebel MLAs from Shiv Sena proved. However, a BJP leader himself taking a backseat for an ideological cause isn’t rare and Devendra Fadnavis was walking in the footsteps of great BJP leaders. When the founding fathers of Jan Sangh instilled selflessness as a philosophy in its cadre, it was Atal Bihari Vajpayee, who was a leader (Member of Parliament), with Advani working as his secretary and later as editor of a Hindutva publication. Over the next few decades, Vajpayee and Advani alternated between roles selflessly working under each other’s leadership building the party brick-by-brick. The ideological mission was supreme and not individuals. This selflessness of the party was again on display in 1977 when the Janata Party government came into power and Jan Sangh took a backseat despite a higher number of seats – the mission was more important than the individual goals. The party’s philosophy of “nation first, party second and self last” was drilled into every cadre not just through words but through actions. The Modi era brought in a fresh wave of ideological strength with the BJP selflessly taking non-RSS Hindutva leaders like Yogi Adityanath into its fold.
Over the past few days, the Maharashtra government under Uddhav Thackeray had resorted to attacking the rebel Shiv Sena MLAs for insisting on sticking to the Hindutva stand. The Shiv Sena leaders, who were once foot soldiers of Hindutva under Balasaheb and made their way up from humble backgrounds, were portrayed negatively. Their insistence on sticking to the Hindutva cause was painted as a power-hungry move of Shiv Sena rebels with the backroom connivance of the BJP. “Will you get the Chief Minister’s chair by rebelling against me” taunted CM Uddhav Thackeray in a LIVE address to the state.
“Yes”, replied the BJP and Sangh Parivar in unison when Devendra Fadnavis made that unexpected announcement at the press conference. In one stroke, BJP under Devendra Fadnavis destroyed Uddhav Thackeray’s anti-Hindutva propaganda and honoured the rebels for taking an ideological stand. In a message to every Hindutva ideologue, he made it amply clear that the stability of Maharashtra, development of the state and ideological cause is more important to him than the Chief Minister’s chair itself. The real Shiv Sena of Balasaheb under Eknath Shinde finally leads the state with the support of BJP MLAs.
The press conference by Devendra Fadnavis will be written in golden words in the history of the Bharatiya Janata Party as a step towards the selfless pursuit of Hindutva ideals. A karyakarta like me, who has tirelessly worked for the party under the leadership of Devendra Fadnavis. saw first-hand what selflessness towards the cause is all about. I have witnessed how faith in leadership trumps every personal consideration and makes BJP truly a party with difference. Detractors often resort to attacking the Sangh and its ideals while taking a gibe at BJP. The BJP under Devendra Fadnavis in Maharashtra has once again demonstrated how these Sangh ideals are the strength of the party.
In the words of Swayamsevaks, BJP Leader Devendra Fadnavis acted true to the lines in the Sangh Prarthana – (TvadiyayayKaryayaBaddhaKatiyam) – We are committed to the cause- The cause of Hindutva, the cause of Maharashtra.
The author is BJP spokesperson, advisor to former Chief Minister of Maharashtra, Devendra Fadnavis, and executive director of Maharashtra Village Social Transformation Foundation.
ON DOCTORS’ DAY, NETIZENS THANK DOCTORS FOR THEIR IMMENSE CONTRIBUTION
As India celebrated National Doctors’ Day on Friday, politicians, business leaders and social media users took to Twitter to thank doctors for their immense contribution and serve to the nation. #NationalDoctorsDay took the top trend as wishes poured in on social media. Leading the celebrations, Prime Minister Narendra Modi shared a video on social media and said, “Doctors Day greetings to all hardworking doctors who play a key role in saving lives and making our planet healthier.”
Union minister Nitin Gadkari remembered Bharat Ratna Dr Bidhan Chandra Roy, who was an Indian physician, freedom fighter, educationist and philanthropist. “Deepest gratitude to all the doctors on National Doctors Day. I salute their tireless efforts in keeping us safe during the global pandemic,” he said.
Union minister Dharmendra Pradhan also remembered Bharat Ratna Dr Bidhan Chandra Roy and tweeted, “Remembering Bharat Ratna Dr Bidhan Chandra Roy, one of the pioneers of healthcare sector on National Doctors Day. Today , let us express our gratitude and take a moment to appreciate all our doctors for their round-the-clock efforts for a healthy and fit society.”
Fearing a layoff? Devise an action plan
India›s workforce has been at the receiving end of the economic impact of the pandemic. While many of the employees faced salary cuts up to 40-50%, there are a significant number of people who were laid off. One might assume that layoffs were a phase and the time to recover losses that occurred due to Covid-19 is not too far, but the recent layoffs in EdTech giants like BYJU’s and Topper paint a different picture.
In such uncertain times, there are certain strategies that one can adopt to evade a powerful economic blow. Having an action plan might not help in retaining the same job, but it will sure help in sustaining a huge financial blow as well as finding more opportunities.
The trick to retaining a job is to be invincible. Be so good at your job that it prompts the employer to think twice before taking a decision on laying you off. This does not happen in a day. Daily actions translate into a long-term commitment. Show up on time, learn as much as you can, deliver more than expected, come up with new ideas, maintain good relationships with your colleagues as well as your seniors, and you will carve out a space for yourself in your organisation.
INVEST IN YOURSELF
Learning is a process that must never end. Skills like creative writing, social media marketing, video editing, graphic designing, machine learning and others are skills that are highly in demand. Even if you are working an 8-hour shift and are not actively looking for a job, these skills will give a boost to your resume, enhance your skill set and set you apart from others.
Social media has made it possible for us to stay connected all the time, not just with our friends and family but also with potential employers. Building a positive relationship with your colleagues, ex-colleagues, seniors and people who are working in other organisations will ensure that you never miss an opportunity. Showcase your work on websites like LinkedIn to ensure that you don’t look for an opportunity, rather it comes to you.
No matter what your current pay scale is, it is always advisable to have multiple sources of revenue. That is only possible when you start investing early. Whether it is your 1st paycheck or your 300th paycheck, make sure to save a portion of your salary. Spend that amount on things that will give you a bigger return and not just dig a hole in your pocket. It is always advisable to have an emergency fund. As the term suggests, this emergency fund will help you sail through a difficult time. Even if you are laid off, you will be financially secure.
POSITIVE SELF TALK
Finally, it might get difficult to stay unaffected by what is happening around you. The uncertainty can take a toll on you but staying positive can help you not only manifest your dream job but also avoid the stress. Have a positive self-image, eat nutritious meals, dance your heart out, spend time with family and wait for life to surprise you.
Having an action plan might not help in retaining a job but it will help in sustaining a huge financial blow as well as finding more opportunities.
‘THE TERMINAL LIST’ FAILS TO LIVE UP TO THE HYPE
Despite the promise, ‘The Terminal List’ doesn’t really offer anything new to the world of action thrillers.
Over the last decade or so, Chris Pratt seems to have overtaken everybody else to become a leading blockbuster action hero in Hollywood. He brings with him just the right mix of charisma and rugged machismo. Not many are aware that there was a time when Pratt failed the auditions for J. J. Abrams’ ‘Star Trek’ and James Cameron’s ‘Avatar.’ But, it all changed for Pratt with ‘Zero Dark Thirty,’ wherein he played one of the soldiers who took part in the eventual assassination mission to take down Osama bin Laden. He followed it up with ‘Guardians of the Galaxy,’ wherein he essays the part of a brash space adventurer named Peter Quill who gets hunted by relentless bounty hunters after he steals an orb coveted by Ronan, the Supreme Accuser of the Kree Empire. Subsequently, he went on to star in films like ‘Jurassic World,’ wherein he undertakes the seemingly impossible task of training raptors, ‘The Magnificent Seven,’ wherein Pratt stars as a member of a band of cowboys who are hired to protect a small town from an evil baron, and ‘The Tomorrow War,’ which stars Pratt in the role of a man recruited to fight an invasion taking place in the future.
With such hard-hitting action thrillers under his belt, Chris Pratt looks like the ideal choice to play the part of James Reece in the new Amazon Prime Video series ‘The Terminal List,’ which is based on the best-selling novel of the same name by Jack Carr. The series follows Reece after his entire platoon of Navy SEALs is ambushed during a high-stakes covert mission. Reece returns home to his family with conflicting memories of the event and questions about his culpability. However, as new evidence comes to light, Reece discovers dark forces working against him, endangering not only his life, but the lives of those he loves. The series stars Constance Wu, Taylor Kitsch, Jeanne Tripplehorn, Riley Keough, Arlo Mertz, Jai Courtney, JD Pardo, and Patrick Schwarzenegger, among others. Antoine Fuqua, the veteran director of films such as ‘The Equalizer,’ ‘Training Day,’ serves as an executive producer (he also is a director) on the series. The show is written by David DiGilio (‘Strange Angel’), who is also an executive producer on the show alongside Fuqua and Pratt.
To help with authenticity, ‘The Terminal List’ engaged veterans and their families as part of multiple aspects of the series production. For example, half the show’s writing staffers are either veterans themselves or have veterans in their families. ‘The Terminal List’ adds to the list of action thrillers which are already a part of Amazon Prime Video’s catalogue such as ‘Jack Ryan,’ ‘Hanna,’ ‘Reacher,’ and ‘Bosch,’ among others. And, despite the promise, it doesn’t really offer anything new to the world of action thrillers. Yes, there is Chris Pratt and the wonderful supporting cast, Jack Carr’s bestselling novel, and Fuqua’s direction. But, it just doesn’t add up in a way the makers would have hoped and fails to live up to the hype of this big game-changer of an action show that marks Pratt’s highly anticipated return to television.
A show like ‘The Terminal List’ could have been a trendsetter had it come out a decade back but today there is so much solid action content out there that it’s very difficult to stand out in the crowd. If anyone could have delivered it, it’s the team of Pratt and Fuqua but unfortunately ‘The Terminal List’ falls short by some distance. A much better option with the story on offer and the chosen treatment perhaps would have been a four-episode miniseries or a feature film rather than a full-fledged series. However, the show isn’t without merits. There are loads and loads of action on offer and even though most of it is pretty predictable the action lovers wouldn’t be disappointed. Fans of Chris Pratt too wouldn’t mind seeing him beating the bad guys to pulp. Some of the old action buffs might even be reminded of films of Arnold Schwarzenegger and Sylvester Stallone, notwithstanding the lack of novelty or surprise on offer.
ON SOCIAL MEDIA DAY, NETIZENS CALL FOR CAUTION AND VERIFICATION
On the occasion of Social Media Day on Thursday, netizens took to social media to spread the message of caution. The official Twitter account of United Nations shared, “We all love to share. But sharing misformation is harmful and it spreads faster when we are upset. On Thursday’s Social Media Day, we ask you to #PledgeToPause and verify content before you share it online.”
UN Secretary General Antonio Guterres also tweeted: “Lies and misinformation spread around the world at the touch of a button. We can do our part to stop the spread. On Social Media Day, I encourage you to pause and take time to verify facts before you share something online.”
A social media user said, “Social Media Day is a day to celebrate the freedom and opportunities that this platform has given us,” whereas another social media user said, “Happy Social Media Day to all. Let us pledge to be more sensible, factual, responsible and positive on social media platforms.”
In today’s day and age, when the world is going digital, social media is paving its way to become an information age. From getting to know which celebrity is partying where, who got a promotion amongst your friend circle and sometimes, getting your daily dose of news, social media has emerged as one of the most important tools in our daily lives.
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