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The country is riding a new economic growth wave led by the new government. The buoyant markets, shining SME and MSME sectors are bearing the testimony of this new revolution. While speaking at a global economic forum, Prime Minister of the country spoke about the economic renaissance that the nation is witnessing. He said that the MSME sector would play the role of a catalyst in changing the financial climate of the country. Reports tabled by different research agencies suggests that the MSME and SME sector will grow manifold in the coming few years. Recent research tabled by ICRA revealed that the credit to micro and small, medium enterprises is likely to record a growth of more than 12 percent in the forthcoming years. The NBFCs is expected to play a major role. The report said that the NBFC and housing finance segment’s CAGR would grow at a rate of 21 percent
There is a popular misconception that Indians are not keen to initiate or run a business. The trend is rather different where people are more interested in beginning something of their own which will be sustainable and profit. This has been the major driving force behind the growth of SME sectors. Interestingly, there are ample examples where people have considered full time business with the start-up if it looks promising with the mode of functioning and the returns. No doubt, availability of finance and access to technology are key to the gradual transformation of such.
Financial support is one aspect which demands closer introspection in India. To some extent, many Indian start-ups don’t get the much-needed small business loans from financial institutions, and ultimately the entire business goes under. The whole issue of sustainable SMEs is closely intertwined with easy finance. In this regard, the Pradhan Mantri Mudra Yojana (PMMY) has been a game changer of all sorts. Within a year of its launch, it has been instrumental in giving small business loans to 1.5 crore new entrepreneurs all over the country. As of now, 3.22 crore new as well as existing entrepreneurs have been sanctioned loans under PMMY. Importantly enough, women entrepreneurs account for about 78 per cent (or 2.52 crore) of the total number of borrowers which is a giant leap towards a gender sensitized ecosystem and women empowerment in the true sense of the term.
The best aspect of the Mudra Yojana is the coverage it provides for the entrepreneurs. The
budding entrepreneurs can apply for loans for purchasing vehicles for goods and personal
transport; starting/ expanding saloons, beauty parlours, gymnasium, boutiques, tailoring shops, dry cleaning, cycle and motorcycle repair shop, DTP and photocopying facilities, medical stores; for undertaking activities such as papad/ pickle/ jam/ jelly making, small service food stalls and day to day catering or canteen services. Loans under PMMY are unique considering the bigger domain it is catering to at present. Even micro entrepreneurs are eligible to opt for such. From another perspective, the inclusive nature of the government policy regarding financial and banking institutions have complemented the efforts. In this regard, the Pradhan Mantri Jan Dhan Yojana, which got recognition from the Guinness Book of World Records for “most bank accounts opened (1.80 crores) in one week as part of the Financial Inclusion Campaign from August 23 to 29, 2014, has been key to financial inclusiveness and transparency across the country. The latest MUDRA (Micro Units Development & Refinance Agency Ltd) data has underlined that in the last 12 months, banks and microfinance institutions have sanctioned and disbursed loans aggregating Rs 1.28 lakh crore and Rs 1.22 lakh crore, respectively, which has been a big blessing to the SME sector. Interestingly, out of this, the sanctions and disbursement to women entrepreneurs are at Rs 59,132 crore and Rs 58,000 crore, respectively.
There is no denying the fact that the Mudra Yojana, which has been catering to young
entrepreneurs with small business loans, have changed the domain of MSMEs and SMEs in
India to a considerable extent. The whole framework has consistently ensured credit flow in the market. No doubt, the smooth flow of credits from financial institutions to entrepreneurs has changed the face of Indian economy and can be said that the approach has strengthened the vibrant Indian economy.
As fall nesting is upon us, opt for tasteful wallpapers if you're looking to dramatically overhaul your interiors. Besides being more durable and cost-effective in the long run, wallpapers can add texture and dimension to a space, transforming an ordinary room into something special. Take your pick from muted backdrops to geometric prints from a splash of vibrant hues to intricate patterns.
Artisan Furnishings curates a few trends to dress your walls up for the season:
If yours is a minimalistic home with clean simple designs and home accessories, covering your wall with a muted color and simple floral motifs will work like a charm. An interplay of the yesteryear's cottage core vibe with a contemporary design aesthetic, your walls will play muse to the season of new beginnings.
An interplay of the yesteryear's cottage core vibe with a contemporary design aesthetic, your walls will play muse to the season of new beginnings. | Photo by Unsplash
Cover Me in Sunshine
Vibrant hues of sunshine orange and yellow with intricately lined patterns in white bring out a certain allure and warmth to your home along with adding a statement to your wall. Paint your home in this subdued backdrop to give it a fresh makeover.
Vibrant hues of sunshine orange and yellow with intricately lined patterns in white bring out a certain allure and warmth to your home. | IANSlife
Go Rustic with Earthy Tones
Invoking the aura of the charming English countryside, the rustic trend blends the neutral backdrops and an earthy colour palette of beige, brown, and blue. Infusing a sense of tradition and craftsmanship, these wallpapers are designed with ingenuity and love for our diverse roots.
The rustic trend blends the neutral backdrops and an earthy color palette of beige, brown, and blue. I Photo by Unsplash
Bold Hues on Muted Backdrops
Give your home a festive spirit and feel with wallpapers created on a simple color palette of cream with gold accents. Reminiscent of palaces and their vintage and regal vibe, this wall-covering trend goes perfectly for every kind of space.
Floral motifs and structural designs create a bespoke line of wall arts to bring out the essence of fall in your home. | IANSlife
A melange of Pattern and Prints
Uniquely designed patterns on a plethora of backdrops colored white, cream, beige, and bold hues of violet, this trend is perfect for all seasons. Floral motifs and structural designs create a bespoke line of wall arts to bring out the essence of fall in your home. (IANS/ MBI)
Keywords: Wall trends, Minimalistic Decor, Floral motifs, and structural designs, home accessories, Contemporary design aesthetic.
By Himanshu Agarwal
While smart homes are typically about connected and automated devices and appliances, making it a super convenient and comfortable living experience for residents, there is one connection that we often seem to miss when we speak of smart homes -- the inextricable connection with the indoor home environment.
After all, smart living is also about smart breathing. Unless we breathe clean and pure air even within our homes, smart living remains an incomplete aspiration. Therefore, as we pivot big time to a modern lifestyle with nearly 24/7 gadgets, utilities, and network dependency within our homes, a sense of balance with respect to the indoor ambiance must also be attained. And this balance necessarily means breathing pristine, unadulterated pure air even at homes.
Don't forget we breathe 24/7 even when living in smart homes
Of course, in this time and age when we are actively using some smart device or the other within the premises of our smart homes most of the time, the point that we are also breathing 24/7 need not be as labored. However, the question is: whether the quality of the air that we are breathing indoors is commensurate with the aspiration for this so-called quality of life and experience of living in high-class homes. In other words, even as we think we are living the 'high life' using all the fancy gadgets and increasing convenience in life, unless we breathe the right air, the desire and dream of quality living will not find true meaning.
Don't forget we breathe 24/7 even when living in smart homes. | Photo by Ale Romo Photography on Unsplash
Indoor air is worse than outdoor air
Contrary to the popular perception that the air quality in the external settings is worse than that of indoors, the reality is that indoor air is often found to be more impure and unhygienic for our health and living. This is not only because outdoor air gets natural circulation and revitalization as opposed to indoor air with a higher likelihood of getting stale by its very nature. But this is also based on solid scientific evidence. In fact, the levels of indoor air pollutants are often 2 to 5 times higher than outdoor levels and can even top the outdoor levels of the same pollutants 100 times in some cases. In these times of pandemic, it is worthwhile mentioning that even the transmission rate of the coronavirus is higher in indoor settings than outdoors.
Indoor air is often found to be more impure and unhygienic for our health and living. | Photo by Kaleidico on Unsplash
Efficient energy use reminds us of the need for efficient human energy too
Smart homes naturally mean the most efficient and optimized energy use. There is a bit of irony in the fact that while we are living in an optimized energy-based setup, we are not optimizing our own energy here if we ignore indoor air quality. Breathing is a source of energy that sustains our body with oxygen, a life force that creates nearly 90 per cent of our bodily energy. If we wish to get the best of our breathing and internal energy system and indeed make everyday life and related pursuits more fulfilling, we need to breathe clean purified air all the time. A healthy life starts with breathing healthy air.
Smart homes naturally mean most efficient and optimized energy use. | Photo by Unsplash
In a nutshell, unless we have indoor air purification -- of the smart kind or otherwise -- within our smart homes, even living in smart homes doesn't make us smart enough! (IANS/ MBI)
Keywords: smart homes, energy, indoor, air, breathing, outdoor, smart, air purification