Consumer Rights and Responsibilities

In the highly competitive and profit-driven business world, Consumer Rights play a key role to protect them from any kind of unfair trade practices. It also protects the consumers from the unsafe or dangerous products that can harm their health and well-being. The Consumer Protection Act of 1986 aims to give consumers rights to fight any injustice. The Act has gone through some changes over the years, the latest change took place in 2019.

The Consumer Protection act aims to provide easy compensation to those affected by any injustice, and encourages the consumers to speak up and take action against it. It covers all the goods and services by all the public, private and cooperatives, except some exempted by the government. The Act promotes settlement of consumer disputes.

What are Consumer Rights ?

Right to safety: It provides the consumers safety against goods that are hazardous and have the potential to affect life and property. Consumers should emphasize on the quality and safety factors of the product before buying it. Quality marked products such as ISI, AGMARK, etc. should be prefered.

Right to be Informed: It consists of the right of the consumers to be informed about the quality, purity, standard, and price of the goods properly. Before deciding to buy, the consumers must consider knowing all of this information related to the product.

Right to Choose: This includes the rights to access the variety of goods and services at competitive prices, wherever it is possible. With the case of monopoly markets, it refers to the right to be assured of good quality at a fair price.

Rights to Consumer Education: It includes the rights of the consumer to gain the knowledge and become an informed consumer. It is extremely important to be informed, because most of the exploitation takes place with the advantage of lack of awareness and ignorance among the consumers.

Right to be Heard: This means that consumers have the right to raise or represent their concern and interests at various consumer forums to ensure their welfare. The consumer’s interests will be given due consideration under this right.

Right to seek Redressal: It is one of the most important rights of a consumer to seek redressal against any unfair trade practice experienced by them. It can help them to have a fair settlement or get the required compensation. They can also take the help of the consumer organisations in the process of seeking redressal.

In case of any trouble or injustice, the consumers can file a complaint within two years of buying the product. The details of the problem should be mentioned in the complaint along with relevant bills and receipts attached to it. The written complaint should be submitted to the consumer forum for further action.

As a consumer, it is our duty to be aware about the rights and responsibilities before buying a product or service, in order to avoid any injustice or exploitation.

The Role of students in removing illiteracy

By: Astha Raghav

It is unfortunate that even after sixty years of our independence we have not been able to eradicate illiteracy from our country. In fact, illiteracy is the root cause of all the major maladies that afflict India today. If we wish to be counted among the top leading countries of the world, we have got to eradicate illiteracy. Besides, education is necessary for personal growth of any individual. It helps to promote self respect of a person. It increases participation in the democratic processes by bringing about an awareness about rights and duties as the citizen of our country. Something surely has to be done on the war footing to see more and more literates in our country.

The responsibility, however, doesn’t lie with the government alone. It is the moral duty of each and every citizen of India who is fortunate enough to be educated to offer his voluntary services to promote literacy. In fact, students in schools and college can play a vital role in the direction by taking literacy classes for at least two hours every week. They can form teams for different age groups by identifying some adults/ children in their neighbourhood and organise classes in a common hall in the locality. Even in school, teachers can organise some groups and allot the willing school students the duties to teach the illiterates after school hours.

Another way to contribute to this literacy mission is to follow the concept of ‘Each one Teach one’. Every students should take up the responsibility of teaching at least one illiterates person- possibly the domestic help or a vendor. Nothing is impossible and with earnest efforts and strong will power of the youth a lot can be achieved to bring down the rate of illiteracy and improve the quality of life for the illiterate counterparts of our country.

Thank You!

Retirement Planning

What is Retirement
Planning?

According to Investopedia , Retirement planning is
the process of determining retirement income goals, and the actions and decisions necessary to
achieve those goals. Retirement planning includes identifying sources of income, sizing up
expenses, implementing a savings program, and managing assets and
risk.

One should have a fixed budget for retirement. One should start
retirement planning a early as possible and they should also track and review
their plan wisely.

How to make an effective Retirement Plan?

Let us understand the same through an example:

(You can get retirement calculator online)

ANSHUL’S RETIREMENT PLAN


Current Age	25
Monthly expense	179500
Retirement Age	50
No of years for retirement	25
Life expectancy	75
% expenses after retirement	100%
Inflation Rate	7%
Value of monthly expenses post retirement	Rs. 9,74,224.16
No of years in retirement	25
Return on Corpus	8%
Corpus required to account for retirement expenses	Rs. 25,87,17,770.81

MONTHLY EXPENSE SHEET

Particulars	Amount
Groceries	5000
Fruits and vegetables	1500
Clothing	1000
Electricity	1500
Water supply	500
Medical expenses	1000
Medical insurance	2000
Loans and interest	100000
Maintenance expenses	5000
Other insurance	2000
Education expenses	20000
Servant Salaries	40000
Total monthly expenses	Rs.179500

Analysis from the preparation of Retirement Plan

In
the above plan, assuming that I will start earning at the age of 25, it can be
seen that monthly expense of Rs.179500 will translate into Rs.9.74 lacs at the
time of retirement which needs a huge corpus or saving of almost Rs. 25.87
crores given the inflation rate of 7%.It also becomes clear that financial
security is much dependent on proper and adequate financial planning. One also comes to know that the value obtainable for money will be far less at a future date.

Conclusion

One can even personally in order to maintain a similar lifestyle to their current
lifestyle, it is necessary to begin saving for retirement as early as possible.
So, when I will start retirement planning, generally 50%, 30%,20% rule is
applied where 50% of the income goes to your needs, 30% for wants and 20% for
savings. One can follow the same rule to make my retirement plan more
effective.

COACHING INSTITUTES EXPLOIT STUDENTS

By: Astha Raghav

Coaching institutes have mushroomed in every nook and corner of all major cities over the past few years. These so called “temples of learning” are exploiting the young minds just for their financial grains. The misleading advertisements given by these Institutes act as Magnets to attract the innocent, inexperienced students, who are seeking for sincere counseling and proper direction.

Coaching institutes have only one purpose while teaching their students: to get them to IITs, NITs or AIIMS, GMC, etc. Such beliefs and ideologies being inculcated in students at such a young age seriously compromise their prospects of being an effective member of the society in the future. We all are aware of how fancy coaching for engineering and medical courses are running all over the country. But I am not concerned about those foundation courses, rather for a seven-year-old child carrying 7kg heavy bag on his back and going to a coaching class.

Coaching has became an inevitable part of student life; be it second standard or 12th standard students. Earlier it was for those who found a school is not enough for clearing their doubts in studies. But now it’s religiously important to join a coaching institute.

Students pay thousands of rupees in school just to get the tag of a prestigious school and get the attendence marked. But what is the point of spending so much money that could not even clear the basics of the majority of the class?

Coaching is not only making parents’ money wash away like waves but also ruining the creative and thoughtful minds of a child. Nowadays, PM Modi is stressing very much over developing one’s skills. Perhaps that coaching for child below ninth standard is itself ruining the skillful mind of a child. They get everything cooked and served, every note and all answers. “The search of an answer is the essence of education”, which children are losing day by day.

p style=”border: 0px;color: #5c5c5c;line-height: 28px;margin: 0px;padding: 10px 0px;vertical-align: baseline”>The other dimension of the increasing dependency on coaching is the lack of attention of parents towards their child. Nowadays both the parents are earners of the house, which causes them to give less time to their child or you can say no time at all.
The need of the hour is to let the child search their answers on their own; let them be good learners on their own and let them be creative souls rather than making them robots whose whole day is spending in attending coaching and schools.

THANK YOU!

NGO

NGO means non governmental organization

Its an organization which is not included in governmental organization to help needy people to provide basic amenities and solve their basic problems

NGO play a major role in imparting education to poor guys or disabled children by providing them education, resources

Also it helps to avoid child labour

Farmhouse

Farmhouse is type of house which everybody desire to have in his or her life

Farmhouse consist of big garden, swimming pool and all items which is needed to live luxurious life

Life is short to live So we should try to spend it happily and live comfortable and luxurious life

Farmhouse cost is very high which makes it difficult to buy for normal people

Computer

Computer is an electronic item which is generally used by most people .Computer solves almost all financial , business related problems like keeps records in tally ,making payment, keeping management record and so on .

Unlike other non electronic or paper terms it can be preserved for lifetime without any fear of losing any data

Mobile

Mobile is electronic device which is used by almost all people in this world . Through mobile we can communicate to anybody irrespective of long distance . Mobile is needed to solve basic problems like sending email , calling someone for any issue

Its also used for entertainment purpose like playing games and using other apps

Crisis in AFGHANISTAN

Now that the US army has pulled out from Afghanistan after spending 20 years there, the Taliban has taken control of almost whole of the country. HISTORY REPEATS ITSELF, and here history is repeating itself for the worst. Politicians have fled from the country leaving their countrymen to die and the civilians are in a state of panic. As Taliban has taken control from all the borders leaving no exit point.

What is Taliban

Taliban is the word for ‘student’ in pashto language. Ironically they have nothing to do with knowledge, at least on humanitarian basis. They emerged from the northern part of Pakistan in the early 1990s, they basically promised peace to the peope an to impose Sharia or islamic law, once in power. In September 1995, they started their rule by capturing Herat and then all the major cities one by one and by 1998, they had captured about 90% of Afghanistan.

They became popular as they finished corruption and lawlessness. They also introduced roads. But at the same time they implemented the Sharia law and gave punishments according to it, like public execution for murderers and adultration, amputating those, who were found guilty of theft. Girls were not allowed to go to school after the age of 10, women had to wear chaadri (burqa, covering whole body) when going out and they had to be accompanied by a man all the time, men too had to grow beard. Cinema, music and television were banned. women were not allowed to work even when their husbands died. Basically all their rights were taken away.

Major terrorist activities by Taliban

On 11 September, 2001 the world trade center was attacked and Taliban was accused of providing safety to Al Qaeda.

Malala Yousafzai was shot by the talibani terrorists as she refused to leave school and continued to study.

Disturbing images have been coming in from airport where people were rushing as their last hope of fleeing from there. It’s very saddening to see politicians leaving their people to die on the streets. Even though talibanis have said that the people need not be scared of anything but can we trust them?? Not really. Several videos have been surfacing on the net of dead bodies littered on roads. People are being dragged out of their houses, specifically those who have in any way helped American forces.
Residents are trying any possible way to get out of there but unfortunately the only exit left at last, the airport in kabul, has been shut off, shutting their last hope for now.

Well, I hope for now at least the citizens will be safe and peace will be restored soon. The Afghanistan of 1960s-70s, where women enjoyed freedom and the country was progressing will be back. Children will play with toys and not guns, knowledge will be used as weapon and not violence.

Fit in bit

Commit to be fit..!! What exactly fitness is? Is it that walking for 5 minutes ? , Is it that sweating through talks ?

Fitness is the most concerned issue nowadays. Fitness is the state of a healthy mind , healthy heart and a healthy life. Everyone is coming back towards a healthy body . It gives you the pleasure of living a peaceful life just like meditative peace. But the question arises how to stay fit? Don’t worry , A person can stay fit in a busy schedule too .You just need to be persistent either for 5 mins or 5 hours . The main thing is you don’t have to skip the regularity of your fitness exercises. You need to be mentally prepared that yes now onwards you will be regular , its not about the particular same time , its just that you need to do your exercises whenever you got time.

Something is always better than nothing . Keep your mind concentrated, just focus on the goal , be regular.

Thank you..!!

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How to make an effective Retirement Plan?

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What is Taliban

Major terrorist activities by Taliban

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