Tuesday September 17, 2019
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Modi government came in power with a ‘probably unrealistic’ promise: RBI Governor Raghuram Rajan

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By NewsGram Staff Writer

Addressing the audience of the Economic Club of New York on Tuesday, Reserve Bank of India (RBI) Governor, Raghuram Rajan, said that the Modi Government came in power with a ‘probably unrealistic’ promise, but the government is taking steps to create an environment for investment and is “sensitive” to the concerns of investors.

“The government has taken steps to create the environment for investment, which I think is important,” said RBI Governor.

Rajan said that the government is creating an environment for investors and that will be a boon for thousands of unemployed youths of India. A “big part” of the business environment is taxes and the government has made it clear that it will not bring retrospective taxation again.

“However, once the tax authority levies a demand on you, there is a quasi-judicial nature of that proceeding and therefore it has to go through the courts before it is resolved. The government cannot intervene,” Rajan added, while adding, “Legacy issues are winding their way through the courts, including issues based on laws that existed before they were changed.”

Rajan also praised government’s different policies from Land Acquisition Bill to monetary reforms.

He said that since different states have their own Land Acquisition Bills, some commentators have suggested the possibility that the states should decide for themselves as to how to implement their respective land acquisition provision, as per the report of The Financial Express.

He stated that inflation “has come down tremendously in India” and the rupee has basically stayed relatively flat since the beginning of the year.

“If you look at rupee’s volatility relative to other currencies, you’d have to argue that the rupee has been one of the most stable currencies (against) the dollar,” Rajan said.

The RBI governor’s statement came in the note of Modi’s one year in office.

Rajan commented, “It is appreciable the way the government tried to implement its ‘probably unrealistic’ promise and to create a friendly relation with its neighbors.”

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How Americans Are Handling Post 9/11 Trauma

Eighteen years ago, more than 60% of Americans watched as the worst terror attack ever to occur on U.S. soil unfolded on television

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empire, state, building, us, 9/11, terrorism, safety
Covered in dust, ash and falling debris on the morning of Sept. 11, 2001, New York City Transit's express coach #2185 could have been written off and sent off to scrap. It was decided, however, to rebuild her as a symbol of NYC Transit’s resiliency and a rolling example of the dedication of the agency’s employees. Wikimedia Commons

Eighteen years ago, more than 60% of Americans watched as the worst terror attack ever to occur on U.S. soil unfolded on television — either in real time or in repeated replays.

That up-close view of the murders of almost 3,000 people jolted Americans out of the sense of security they’d enjoyed at least since World War II.

“I think that up until that time, perhaps people were more optimistic or certainly had a sense that it couldn’t happen here. Terrorist attacks were something that happened overseas, but not in the United States on our soil,” says Roxane Cohen Silver, professor of psychological science at the University of California, Irvine.

“The concept of fearing violence on a day-to-day basis just wasn’t part of the existence of most people in the United States.”

Empire State building, US, New York, 9/11, trauma, mental health
TV viewers said the Sept. 11, 2001 terrorist attack was the all-time most memorable moment shared by television viewers during the past 50 years, according to a 2012 study. VOA

Cohen Silver, who studies the impact of collective trauma, says some individuals with no direct connection to the 9/11 attacks exhibited symptoms that experts had previously assumed were the result of direct exposure to trauma.

“Individuals who watched a great deal of television in the first week after 9/11 were more likely to exhibit post-traumatic stress symptomatology and physical health ailments years later,” she says.

Those symptoms often included anxiety and fear, as well as the onset of physical health ailments such as cardiovascular issues.

“We learned from 9/11 that large-scale events could impact people beyond the directly affected communities, that the events that occurred in New York could impact people in Kansas,” Cohen Silver says. “The second message we’ve learned from 9/11 was the important role of the media in transmitting that awareness and that potential anxiety.”

Empire State building, US, New York, 9/11, trauma, mental health
Students and others watch live television coverage of the 9/11 attacks on the UCLA campus in Los Angeles, Sept. 11, 2001.
VOA

In the 18 years since 9/11, the rise of social media and smartphones has resulted in increased access to images of mass violence. In addition, there are no news editors or other middlemen to weed out potentially disturbing content. The speed with which these images reach people has also escalated.

Young Americans born after 9/11 have grown up in a world where acts of mass violence are increasingly commonplace.

More than 230 school shootings have occurred since 1999, when 13 people were killed at Columbine High School near Denver.

Mass attacks continue to occur in places that Americans commonly view as safe spaces, from the 2016 Orlando nightclub attack that killed 49; the 2017 Las Vegas concert shooting where 58 people were killed and hundreds more wounded; to last month’s shooting at a Texas Walmart that left 22 people dead.

ALSO READ: Chennai Experiences Most Cyber Attacks Among Metro Cities

“We’re so consumed with new events, you know, current events, hurricanes, mass violence events. And there are many of these that occur, and they’re all tragic,” says Cohen Silver. “But the psychological effects of September 11, 2019, cannot be directly linked to the 9/11 attacks without considering all of the rest of the things that have occurred.”

While the average American cannot control the violence around them, they can protect their mental health by not inundating themselves with images of the tragedies, which can be psychologically unhealthy.

“I believe that people can be informed without becoming immersed in the media. There’s no obvious benefit to repeated exposure to images and sounds of tragedy,” says Cohen Silver. “And so, once people are informed, I would say to practice caution in the amount of media attention that they engage and the amount of media exposure that they engage in.” (VOA)