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PM Narendra Modi’s Demonetisation Move continues to Hurt Local Traders in Delhi with 50-90 Percent dip in their Businesses

These traders have not yet adopted the modern practice of transaction, the online payment facilities

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Representational image. Wikimedia

New Delhi, November 23, 2016: Business activity in the bustling markets of Old Delhi has slowed down as a fallout of the demonetization that continues to hurt the local traders even after two long weeks.

While malls and big showrooms are said to have picked up business after the initial slump, small and medium level traders in local markets are still facing 50-90 per cent dip in their business.

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The reason — these traders have not yet adopted the modern practice of transaction, the online payment facilities.

Most of these traders in Chandni Chowk and surrounding markets do not have online payment facility, which drives customers away, said Chandni Chowk Sarv Vyapar Mandal’s General Secretary Sanjay Bhargava.

“Despite strong competition from malls and e-commerce portals, these local traders so far had managed to retain and grow their customer base,” Bhargava said.

Some traders have started using e-wallets to attract customers. Click To Tweet

“However, ever since the note ban, customers are avoiding shopping at the local markets because they have insufficient cash. And local traders lack online payment facility,” said Bhargava.

Pankaj Manocha from Chawri Bazaar, a wholesale trader in paper who traditionally deals in cash-based transaction, said the paper mills stopped the supply of paper as the demand in the retail shops had gone down.

“Neither customers have cash to buy paper products from us nor we have enough cash to place new orders with the mills,” Manocha said.

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New ways of payment have to be devised in order to thrive in the business, Manocha said.

Some traders have started using e-wallets to attract customers but their number is insignificant.

According to the traders, the clothing business is the worst hit by the demonetisation, despite November being the wedding season.

A wholesale trader said that the demonetisation of Rs 500 and Rs 1,000 currency notes on November 8 affected the traditional business transaction style.

“Earlier, transactions with factories, main distributors, even with customers were carried out using cash, which would be without bill, thus without payment of tax.”

“However, we have to make payment online or in cheques now, which is making the goods costlier. It has hampered our business. We will have to see how things turn,” said the trader, requesting anonymity.

Some traders felt that the situation would be normalised, perhaps in another six months, once they started using different modes of payment.

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Mukesh Sachadeva, General Secretary of Delhi Hindustani Mercantile Association, said: “The current slowdown is due to cash crunch. Since footfall has gone down, the supply from factories and mills has reduced.”

“Now, we are adapting to the changes. We expect that all traders will start using cheques in six months’ time.” (IANS)

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Raja Chari: Indian American Astronaut chosen by NASA

Raja Chari, an American of Indian descent, has been chosen by NASA as one of the 12 astronauts for a new space mission.

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Raja Chari. Twitter.
  • Raja Chari is an American of Indian descent chosen by NASA for the new batch of astronauts
  • Currently, he is a Lieutenant Colonel in the US Air Force
  • Chari will have to go through two years of astronaut training which begins in August

June 06, 2017: NASA has chosen 12 astronauts out of a record-breaking 18,300 applications for upcoming space missions. An American of Indian descent, Raja Chari, has successfully earned his spot in the top 12.

The astronauts were selected on the basis of expertise, education, and physical tests. This batch of 12 astronauts is the largest group selected by NASA since two decades. The group consisting of 7 men and 5 women surpassed the minimum requirements of NASA.

Born in Waterloo, Iowa, Chari graduated from Air Force Academy in 1999 with a bachelor’s degree in Astronautical Engineering and Engineering Science. He went on to complete his master’s in Aeronautics and Astronautics from Massachusetts Institute of Technology. The astronaut is also a graduate of US Naval Test Pilot School.

Currently, Raja Chari is a Lieutenant Colonel in the US Air Force. He is the commander of 461st Flight Test Squadron and director of the F-35 Integrated Test Force at Edwards Air Force Base in California.

After Late Kalpana Chawla, Lt. Col. Raja Chari is the second Indian American astronaut chosen by NASA.

The 12 astronauts will have to go through two years of training. Upon completion, they will be assigned their missions ranging from research at the International Space Station, launching from American soil on spacecraft by private companies, to flying on deep space missions on NASA’s Orion Spacecraft.

The US Vice-President Mike Pence visited the Johnson Space Centre in Houston to announce and congratulate the new batch. Pence also said that President Trump is “fully committed” to NASA’s missions in space.

by Saksham Narula of NewsGram. Twitter: @Saksham2393

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Over 5,000 Plant Varieties in Last 3 Years sent in by Tribal Farmers to protect the species : Minister

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Tribal Farmers
tribal farmers submitted more than 5,000 plant varieties in last three years (representational Image). Wikimedia

New Delhi, June 8, 2017: Union Agriculture Minister Radha Mohan Singh on Wednesday said tribal farmers submitted more than 5,000 plant varieties in last three years through Krishi Vigyan Kendras for registration at the Protection of Plant Variety and Farmers Rights Authority.

It will play an important role in the development of climate resilient and sustainable varieties in future, he said at the National Workshop on Empowerment of Farmers of Tribal Areas here.

“New technological innovations in agriculture must reach to the fields of tribal areas but before taking such steps we must keep in mind the unique conditions of these areas, which are the gift of nature and therefore, we should promote natural farming in those areas,” he said, as per an official release. (IANS)

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Number of Women in Workforce Falls Significantly in India! Why is it so?

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Swati Sharma quit her job soon after her older daughter was born six years ago because of long working hours and lack of suitable childcare facilities. Women in workforce in India are facing challenges. VOA
  • India needs to reverse the declining rates of women in the labor market to push growth
  • An estimated 20 million Indian women have dropped out of the workforce over the last decade
  • Three of every five prime working age Indian women (26-45 years old) are not economically active

New Delhi, June 06, 2017: Using a work-from-home facility, Swati Sharma worked for a few months after her baby was born six years ago but quit when her company withdrew the option.

“They wanted people to come to work every day, it became very difficult,” she said, pointing out that child care facilities near her home in New Delhi did not have high standards.

Stories of women leaving jobs are common: An estimated 20 million Indian women have dropped out of the workforce over the last decade, both in sprawling cities and the vast countryside where fewer women now work on farms.

It’s a staggering number that researchers are trying to decode.

Indian economy is robust

Despite India’s buoyant economy, female employment has fallen dramatically over the last decade. Only 27 percent of women are in the workforce compared to about 40 percent in the mid-1990s. That is less than many lower-income countries like neighboring Bangladesh or other emerging economies like Brazil.

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A World Bank study released recently says India needs to reverse the declining rates of women in the labor market to push growth.

The study said three of every five prime working age Indian women (26-45 years old) are not economically active.

Higher incomes play role

But not all the reasons are negative. An era of high growth has increased household incomes and propelled millions of families into the middle and upper-middle class. The relative household affluence has given many women the option to drop out of the workforce.

In the lower-income strata, better incomes for farm and construction labor also resulted in many poor families in rural areas educating girls. As a result, the number of those between 15 and 25 years in school and college has doubled to 30 percent.

“Many of these young women who were working before perhaps out of necessity are now in school and building up their human capital,” said Frederico Gil Sander, senior economist at the World Bank in New Delhi.

More jobs needed for the well-educated

However not all women stay at home because there is a dearth of suitable opportunities.

“If you survey women, many of the women they want to work, but the fact is that not enough jobs are being created that women can take up,” Sander said.

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Garima Verma, who relocated from New Delhi to Jaipur, says there are fewer job opportunities for women in smaller towns compared with the large cities. (Anjana Pasricha/VOA)

In an urbanizing country, while large cities offer regular jobs in services and manufacturing, similar avenues are not available in smaller towns.

Garima Verma, 32, for example, quit her job a year ago because she wanted a break. But some months later she moved from New Delhi to Jaipur and says finding a suitable job in a smaller city has not been easy.

“Lesser (opportunities) I would say as compared to metros definitely,” she said.

Indian workplaces can be unfriendly to women

But even in booming urban centers, women often find it hard to stay the course, partly because most Indian companies have rigid work structures and reliable child care facilities are few and far between.

Sairee Chahal, founder of SHEROES, a portal for women job seekers, said in an era of global competition, extended work hours have become the norm at most workplaces. And patriarchal attitudes in a conservative society do not help.

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“Firms are very unwelcoming around the need for flexibility, maternity is still considered a challenge. And while women have made it to the workplace, men have not picked up stuff at home and that continues to burden women at home,” Chahal said.

A need for more high tech jobs

The low participation of women in the workforce is especially surprising in a country where a large number of college graduates are women – women like Garima Verma and Swati Sharma, who both have college degrees.

“Even highly educated women are not working and this is in a way a form of a brain drain,” Sander said. “Only 34 percent of women with either a diploma or college degree are working.”

Pointing out that this includes a large number of women graduates in science and technology, the World Bank said India needs to create opportunities to tap this human capital.

Swati Sharma, for example, would like to return to work once her 6-month-old baby is a little older, but with working conditions in companies too challenging, she is taking a course so that she can teach “the only option left for me,” she said.

The World Bank said the key to closing the gender gap is to create more jobs, especially regular salaried jobs that are flexible and can be safely accessed by women.

But that is unlikely to happen anytime soon, warns human resources professional Chahal, and reversing the declining trend poses many challenges.

“We do have women who are educated – basically all set and nowhere to go, all set and no doors opening for you,” she said. (Benar News)

NewsGram is a Chicago-based non-profit media organization. We depend upon support from our readers to maintain our objective reporting. Show your support by Donating to NewsGram. Donations to NewsGram are tax-exempt.