Get subscribed to our newsletter
Get interesting updates to your email inbox.
By Gaurav Sharma
The world economy is at crossroads. Hit hard by the yuan depreciation and the slowdown of growth in China, the world currencies have pummeled under the fear of currency wars being waged to boost the domestic export market.
Vietnam and Kazakhstan have already loosened the grip on exchange rates. Russian rouble has declined between 4-7 per cent while the Indian rupee has fallen more than 3 per cent in the last two weeks.
Economists’ take on it:
However, economists have warned against such a move while pointing out that the Great Depression of 1930’s, a period during which economies raised import tariffs and cut currency rates through competitive devaluation of currencies further exacerbated the slowdown in growth.zero-sum game, which would lead to a race to the bottom. This is due to the fact that in any market situation, exports must be equal to imports, and therefore, cutting imports and boosting exports would be a futile gambit in the global scenario.
What does this mean in India?
In the Indian context, economists such as C Rangarajan, Prachi Mishra, Jehangir Aziz and Sajjid Chinoy have clarified the fact that the Indian export is not driven by exchange rate but is rather influenced by global growth.
Furthermore, the apparent devaluation of global currencies is more due to the strengthening of the dollar against other currencies rather than a deliberate devaluation by central banks.
Instead of succumbing to such a desperate measure, the country should smoothen out the kinks in its tax structure. But the failure to pass through the much-anticipated Goods and Service Tax (GST) Bill in the Parliament has prevented that eventuality from taking place.
The passage of the bill could have boosted the investor sentiment and would have given a fillip to growth in the country. Moreover, the development would have had the effect of erasing the haunting memory of retrospective tax levied on firms such as Vodafone, an image makeover which would have cemented Narendra Modi led BJP government’s commitment to a stable and fair tax regime.
If GST could not have been passed due to certain contentious clauses in the bill and the blockade by the opposition, another relief has been announced by the finance minister Arun Jaitley in the form of scrapping of the minimum alternate tax (MAT) retrospectively.
Jaitley had earlier exempted capital gains made by FPI’s from the levy of 20 per cent MAT from the current year but not retrospectively.
Foreign companies had come under the MAT bracket when the Authority for Advance Ruling in 2012 stated that the Income Tax law did not make a distinction between Indian and foreign companies and therefore, MAT applied to them as well.
The ruling meant that the tax authorities started chasing foreign investors, demanding taxes on capital gains from the sale of securities.
Mauritius-based Castleton Investment Limited was subsequently asked to pay MAT, a decision whose validity will be tested in the Supreme Court in late September this year.
Is the government doing anything?
Now, with the government likely to accept the AP Shah panel’s recommendations, the Foreign portfolio investors (FPI) will likely be saved from paying the tax even before April 1, 2015 and not just after the date mentioned in the next budget, by amending the tax law.
“The government should quickly issue a circular stating that MAT should not be applied to FPI’s from the period prior to April 1, 2015 as well”, said Suresh Swamy, partner, PwC while speaking to ET on the need for removing arbitrariness in the tax regime.OPEC and lifting of sanctions on Iran has meant that Indian oil imports (almost 75 percent of the domestic demand) would be lower in dollar value.
The current account deficit (difference between imports and exports) would fall and therefore, fuel (transport) and other prices would also decline, cooling down rising inflation which has brought much tears to the aam aadmi.
A $1 fall in global crude prices means India’s import bill falls by Rs 6,700 crores. This, coupled with the shift to direct benefit transfer (DBT) of LPG subsidy and deregulation of diesel price would rekindle the fortunes of oil marketing companies (OMC) such as OIL, ONGC, Reliance and Essar by overturning their under-recoveries.
It has been reported that the under-recoveries of OMC’s have been slashed by Rs 139,869 crores in 2013-14 to Rs 72,314 crores last financial year due to the above measures.
So, the big picture is that the Indian economy is on the right track. The hidden problem of burgeoning import dependence can be further ameliorated by removing bottlenecks such as bureaucratic sloth and complex regulatory processes.
Obliterating MAT for foreign portfolio investors is a step in that direction.
Malgudi, a small fictional town in South India has been part of the childhood of most Indians. It is an old, shabby, and peaceful town that is unruffled by politics. The stories set in this small town ring the sense of belongingness in the hearts of its readers. The familiar feeling that feels like home resonates with their soul. And teaches important life lessons to the readers through simple tales. Malgudi Days is one of the books that every Indian child should read. The book is a compilation of 32 short stories that paint a beautiful picture of small-town in India around the '60s and '70s
R. K. Narayan, one of the most well-known and popular writers within India and outside India is the creator of this town and the occurrences of this town. The stories follow the characters Swami and his friends through their everyday lives. Be it the story of fake astrologers who scam and loot the people by his cleverness, or the story of a blind beggar and his dog where the money blinded the man with greed; each story has a lesson to learn, morals and values hidden in it. As the stories are simple, easy to understand yet heart-touching it makes it easy for the kids to connect with each character and imagine the story as if the reader themselves were the protagonist of the story. In simple words, we can say that R.K. Narayan simply told stories of ordinary people trying to live their simple lives in a changing world.
Follow NewsGram on LinkedIn to know what's happening around the world.
As written during the Indian Independence movements and finally published in 1943. The stories in the Malgudi days beautifully encapsulated the transitioning milieu of the British era to post-Independence India. Each of the stories portrays a facet of life in Malgudi and simultaneously a life in an Indian town. R.K. Narayan was one of the first writers who pioneered Indian writings in the English language and the book was later republished outside India in 1982 by Penguin Classics. Thus, the book enjoyed a worldwide audience. The New York Times even described the virtue of the book as "everyone in the book seems to have a capacity for responding to the quality of his particular hour. It's an art we need to study and revive."
The beautiful storytelling of the book was assisted by beautiful illustrations allowing the children to let their imagination teleport them to the world of Malgudi. All the illustrations in the book were illustrated by the world-renowned cartoonist, R.K. Laxman who is also R.K. Narayan's younger brother. The illustrations complimented the scenes from the stories and excited the children, keeping them engaged in reading the book for hours.
The illustrations complimented the scenes from the stories.Pixabay
The short stories from Malgudi Days were later adapted into a television adaptation in 1986. This show was directed by actor and director Shankar Nag. It was filmed both in Hindi and English, containing 54 episodes and the first 13 episodes respectively. Later the series was revived for additional 15 episodes. The show featured several popular celebrities from the Kannada film industry of those days – Girish Karnad, Vishnuvardhan, Ananth Nag, Arundhati Nag and Vaishali Kasaravalli, to name a few. The series was premiered on the Doordarshan channel and became the window into the town Malgudi for many. The show did not only excel in its storyline the TV adaptation elevated the storytelling as the show was technically very sound and stood out in its fantastic detailing in terms of locations and sets. With the cinematography being creative The Malgudi days- TV series once again warmed the hearts of both young ones and adults.
ALSO READ: Poems of Love And War
Malgudi- our childhood home
Malgudi days hold a special place in the hearts of whoever has read the book as a child. With the detailed descriptions of the town and stories one almost gets a feeling that they've visited the place themselves. The characters, Swami and his friends feel like they were all readers' childhood friends. The surreal feeling of being home in the world of Malgudi. The world of Malgudi is intimate, warm, lifelike, and engaging. The setting is modern, and the life portrayed in these stories is contemporary. Still, there is an old-time air about It. R K Narayan once described Malgudi as "Malgudi is where we all belong, and where we wish we lived."
Keywords: Malgudi days, Malgudi, R K Narayan, R K Laxman, storytelling, our childhood home Malgudi
Well, if you'll notice then the moon takes twenty-nine days to complete its lunar cycle, whereas women's menstrual cycle is generally 28 days! Coincidence? I think, not.
It is believed that when a woman goes through her menstrual cycle, she goes through the different lunar energies. In fact, in ancient times it was said that the natural rhythm of women was to menstruate under a new moon and ovulate under a full moon.
At the same time, it is also believed that the cycle and its stages are connected to different seasons, namely, spring, summer, autumn, and winter.
Let us see how the lunar cycle is related to a woman's menstrual cycle!
It must be noted that the menstruation period is during the new moon period and also during the winter season. It is said that this is a reflective phase; a phase of silence, introspection, and solitude. During this phase, a woman's body is more sensitive, and so they're able to connect with it and hear the messages it gives. Interestingly, this is also the time when a woman naturally recycles energy as she menstruates, and hence, it's also the for their rest and recovery.
The Crescent moon represents the pre-ovulation period. This is also the season of spring, and so the time corresponds to an increase in physical energy. During this period, a woman's mental strength is at its peak and their thoughts are much clearer. At the same time, emotions are more stable during this period, and because of which women tend to be more social and outgoing.
This phase of the moon represents ovulation, and the season associated with this phase is summer. It must be noted that this period is full of energy and vitality. At the same time, this period plays a significant role in the lives of women because it's actually a fertile phase in all aspects of their life, be it personal or professional. During this period, the self-confidence and self-esteem in women tend to rise, and along with this, an increase in their sex drive can be seen very well.
This phase of the moon represents pre-menstruation, which is also associated with the autumn season. During this period, a woman's physical energy starts to decline. Metaphorically, just like a tree sheds its leaves, a woman, too, feels the need to let go of anything that is not benefiting her. At the same time, memory and the ability to concentrate decrease in this period.
I hope, now you will not think of the moon just as a celestial body, but as a companion in the lives of women!
Keywords: Women pre-Menstruation, Feminine, women Health Fitness, the moon represents the pre-ovulation period, period and moon cycle.
The Pakistan Electronic Media Regulatory Authority (PEMRA) has directed Pak TV channels to stop airing what it calls indecency and intimacy in dramas, Samaa TV reported.
A notification issued by the authority states that it has been receiving numerous complaints from viewers who believe that the content being depicted in dramas does not represent the "true picture of Pakistani society".
"PEMRA finally got something right: Intimacy and affection between married couples isn't 'true depiction of Pakistani society and must not be 'glamourized'. Our 'culture' is control, abuse, and violence, which we must jealously guard against the imposition of such alien values," said Reema Omer, Legal Advisor, South Asia, International Commission of Jurists.
"Hugs, caress scenes, extramarital affairs, vulgar and bold dressing, bed scenes and intimacy of married couples are being glamourized in utter disregard to Islamic teachings and culture of Pakistani society," PEMRA stated, as per the report.
The authority added that it has directed channels time and again to review content with "indecent dressing, controversial and objectionable plots, bed scenes and unnecessary detailing of events".
Most complaints received by the PEMRA Call Centre during September concern drama serial "Juda Huay Kuch is Tarah", which created quite a storm on social media for showing an unwitting married couple as foster siblings in a teaser for an upcoming episode. However, it only turned out to be a family scheme after the full episode aired, but by that time criticism had mounted on HUM TV for using the themes of incest to drive the plot, the report said. (IANS/JB)
Keywords: Pakistan, Islam, Serials, Dramas, Culture, Teachings.