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Summary of book Ikigai by Hector Garcia

 Summary of book Ikigai by Hector Garcia

I was hoping this book would be a deep dive into the “how” of ikigai. However, it’s more of an introduction to a variety of different topics including: the Blue Zones, logotherapy, longevity, flow, tai chi, yoga, resilience, and more. If you’re new to those topics, then this is the book for you!

What is Ikigai?

1. In Japanese, ikigai is written by combining the symbols that mean “life” with “to be worthwhile.”
2. “Translates roughly as ‘the happiness of always being busy.’” (Note: I believe they mean “busy” in the sense of living a full life vs busy life)
3. “There is a passion inside you, a unique talent that gives meaning to your days and drives you to share the best of yourself until the very end. If you don’t know what your ikigai is yet, as Viktor Frankl says, your mission is to discover it.” (Note: Viktor Frankl is the author of Man’s Search for Meaning)
4. “Our ikigai is different for all of us, but one thing we have in common is that we are all searching for meaning. When we spend our days feeling connected to what is meaningful to us, we live more fully; when we lose the connection, we feel despair.”
5. “Our ikigai is hidden deep inside each of us, and finding it requires a patient search. According to those born on Okinawa, the island with the most centenarians in the world, our ikigai is the reason we get up in the morning.”
6. “Once you discover your ikigai, pursuing it and nurturing it every day will bring meaning to your life.”
7. “They have an important purpose in life, or several. They have an ikigai, but they don’t take it too seriously. They are relaxed and enjoy all that they do.”
8. “One thing that everyone with a clearly defined ikigai has in common is that they pursue their passion no matter what.”

Ikigai Book Highlights

Stress & Existential Crisis:

1. “Many people seem older than they are. Research into the causes of premature aging has shown that stress has a lot to do with it.”
2. “The American Institute of Stress investigated this degenerative process and concluded that most health problems are caused by stress.”
3. “Existential crisis, on the other hand, is typical of modern societies in which people do what they are told to do, or what others do, rather than what they want to do. They often try to fill the gap between what is expected of them and what they want for themselves with economic power or physical pleasure, or by numbing their senses.”
4. “Those who give up the things they love doing and do well lose their purpose in life. That’s why it’s so important to keep doing things of value, making progress, bringing beauty or utility to others, helping out, and shaping the world around you, even after your ‘official’ professional activity has ended.”

Morita Therapy:

1. “Many Western forms of therapy focus on controlling or modifying the patient’s emotions. In the West, we tend to believe that what we think influences how we feel, which in turn influences how we act. In contrast, Morita therapy focuses on teaching patients to accept their emotions without trying to control them, since their feelings will change as a result of their actions.”
2. “Logotherapy and Morita therapy are both grounded in a personal, unique experience that you can access without therapists or spiritual retreats: the mission of finding your ikigai, your existential fuel. Once you find it, it is only a matter of having the courage and making the effort to stay on the right path.”
 

Flow:

1. “The happiest people are not the ones who achieve the most. They are the ones who spend more time than others in a state of flow.​”
2. “In order to achieve this optimal experience, we have to focus on increasing the time we spend on activities that bring us to this state of flow, rather than allowing ourselves to get caught up in activities that offer immediate pleasure.”
3. “Concentrating on one thing at a time may be the single most important factor in achieving flow.”
4. “Japanese people often apply themselves to even the most basic tasks with an intensity that borders on obsession.”
5. “Our ability to turn routine tasks into moments of microflow, into something we enjoy, is key to our being happy, since we all have to do such tasks.”
6. “Artists, for example, who carry the torch of their ikigai instead of retiring, have this power. Art, in all its forms, is an ikigai that can bring happiness and purpose to our days. Enjoying or creating beauty is free, and something all human beings have access to.​”
7. “Artists know how important it is to protect their space, control their environment, and be free of distractions if they want to flow with their ikigai.”
8. “Many such artists might seem misanthropic or reclusive, but what they are really doing is protecting the time that brings them happiness, sometimes at the expense of other aspects of their lives. They are outliers who apply the principles of flow to their lives to an extreme.​”
9. According to Csikszentmihalyi, in order to focus on a task we need:
1. To be in a distraction-free environment
2. To have control over what we are doing at every moment .

Ogimi, Okinawa:

1. “We realized right away that time seems to have stopped there, as though the entire town were living in an endless here and now.”
2. “Many Japanese people never really retire—they keep doing what they love for as long as their health allows.”
3. “The Japanese are skilled at bringing nature and technology together: not man versus nature, but rather a union of the two.”
4. “Okinawans live by the principle of ichariba chode, a local expression that means ‘treat everyone like a brother, even if you’ve never met them before.’”
Celebrations seem to be an essential part of life in Ogimi.

Slow Living:

1. “Being in a hurry is inversely proportional to quality of life. As the old saying goes, ‘Walk slowly and you’ll go far.’ When we leave urgency behind, life and time take on new meaning.​”
2. “Looking back, our days in Ogimi were intense but relaxed—sort of like the lifestyle of the locals, who always seemed to be busy with important tasks but who, upon closer inspection, did everything with a sense of calm. They were always pursuing their ikigai, but they were never in a rush.”
3. “They are always busy, but they occupy themselves with tasks that allow them to relax. We didn’t see a single old grandpa sitting on a bench doing nothing.​”
4. “The restaurant is right by the sea and seems like something from the planet Tatooine, from Star Wars. The menu boasts in large letters that it serves ‘slow food‘ prepared with organic vegetables grown in the town.​”
 

Secrets of the Centenarians & Supercentenarians:

1. “Over the course of a week we conducted a total of one hundred interviews, asking the eldest members of the community about their life philosophy, their ikigai, and the secrets to longevity:
Don’t worry
Cultivate good habits
Nurture your friendships every day
Live an unhurried life
Be optimistic”
2. “Eat and sleep, and you’ll live a long time. You have to learn to relax.” — Misao Okawa (117 years old)
3. “I’ve never eaten meat in my life.” — María Capovilla (116)
4. “Everything’s fine.” — Jeanne Calment (122)
5. “Your mind and your body. You keep both busy, you’ll be here a long time.” — Walter Breuning (114)
6. I just haven’t died yet.” — Alexander Imich (111)
7. “Food won’t help you live longer…The secret is smiling and having a good time.”
8. “My secret to a long life is always saying to myself, ‘Slow down,’ and ‘Relax.’ You live much longer if you’re not in a hurry.”
9. “The key to staying sharp in old age is in your fingers. From your fingers to your brain, and back again. If you keep your fingers busy, you’ll live to see one hundred.”

Ganesh Chaturthi 🙏

 Ganesh Chaturthi 🙏

Ganesh Chaturthi / Ganesh Puja is majorly a national festival, which is marked with the installation of Ganesh clay idols both publicly and privately. The festival celebrates Lord Vinayaka or Ganesh as the God of new beginnings and remover of hurdles. Lord Ganesh is worshipped for prosperity and knowledge.

History of Ganesh Chaturthi 

Ganesh is known by the names Heramba, Ekadanta, Ganapati, Vinayaka and Pillaiyar. Ganesh Chaturthi / Ganesh Puja is one of the widely celebrated Hindu festivals in the country. The blessings of Lord Ganesha are invoked at religious ceremonies. Lord Vinayaka is known as the fortune giver and one who can assist to avoid natural calamities. He is also the patron god of traveling. Lord Vinayaka is portrayed with an elephant’s head on a human body. According to Hindu customs, Lord Ganesh is the son of Lord Shiva and Goddess Parvati.

How is Ganesh Chaturthi celebrated ?

In a few parts of India such as Maharashtra and Andhra Pradesh the festival of Ganesh is celebrated for ten days. It is a public occasion. Sweets are offered. On the day of the festival, clay idols of Vinayaka are installed in homes or outdoor in decorated tents for the public to view and submit their homage. Clay idols of Ganesh are also installed by schools and colleges.
Ganesh Chaturthi/Chavithi is celebrated with great pomp and show in Maharashtra, Gujarat, Goa, and Karnataka. Other states that celebrate this festival are: Andhra Pradesh, Telangana, Tamil Nadu, Odisha, Delhi, and Punjab.

What Rituals Are Observed for Vinayaka Chaturthi?

Though the festival is the same and has similar connotations across India, each region has slight variations in rituals and traditions. The celebrations last between 7 and 10 days at different places. A few common observances are:

1. Installation of Ganapati statue: 

A statue of the Elephant God is installed on a pedestal either at home or in a public place with a pranprathishtha puja.

2. Not looking at the moon: 

On the first night of the festival, people avoid looking at the moon because it is considered a bad omen.

3. Prayers:

 Washing of the statue; puja with the chanting of shlokas and offerings of flowers and sweets; and aarti, i.e. circumlocution of the idol with a plate filled with a lit earthern/metal lamp, kumkum and flowers, is done. Prayer meetings are also conducted at Ganapati temples and public installations every day in the evenings and in some places, in the mornings as well.

4. Special performances: 

Some public installations of Lord Ganesh might also have performances with dance, music, and skits.

5. Making and eating modak: 

Modak is believed to be Ganapati’s favourite sweet. So, these dumplings are made and distributed as prasad during the festival. Other food items such as laddoo, barfi, pedha, and sundal are also distributed during this time.

6. Visarjan: 

This is the immersion of the idol in a water body and is conducted on the last day – anywhere between the seventh and eleventh days – of the festival. It is accompanied by a procession of people chanting bhajans and shlokas and songs, with the idol. People seek forgiveness for the mistakes they have done so far and request the god to help them stay on the righteous path. Ganesha is thanked for visiting the home/locality, for being removing obstacles from people’s path, and for the auspiciousness he bestows.

Why Are Ganesha Statues Immersed in Water on the Last Day of the Festival?

Ganesh Visarjan symbolises the end of the festival as well as the fact that everything on Earth eventually merges with one or more of the elements of nature. It also indicates the birth cycle of Lord Vinayak – he was born from clay and returns to the elements in that form. In literal terms, he is going back to his heavenly abode after staying with his devotees for 7 to 10 days.

What is the need for sustainability?

What does it Mean?

Sustainability is the ability to exist and develop without depleting natural resources for the future.

The United Nations defined sustainable development in the Brundtland Report as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It assumes that resources are finite, and so should be used conservatively and carefully to ensure that there is enough for future generations, without decreasing present quality of life. A sustainable society must be socially responsible, focussing on environmental protection and dynamic equilibrium in human and natural systems.

Why is Sustainability Important?

There are many benefits to sustainability, both short-term and long-term. We cannot maintain our Earth’s ecosystems or continue to function as we do if more sustainable choices are not made. If harmful processes are maintained with no change, it is likely that we will run out of fossil fuels, huge numbers of animal species will become extinct, and the atmosphere will be irreparably damaged. Clean air and nontoxic atmospheric conditions, growth of resources that can be relied upon, and water quality and cleanliness, are all benefits of sustainability.

What is Sustainability

What are the 3 Pillars of Sustainability?

The concept of sustainability is composed of three pillars: environmental, social and economic—also known informally as profits, planet, and people. These are in particular relevant to corporate sustainability, and efforts made by companies.

  1. Environmental protection is the most frequently discussed element. It is concerned with the reduction of carbon footprints, water usage, non-decomposable packaging, and wasteful processes as part of a supply chain. These processes can often be cost-effective, and financially useful as well as important for environmental sustainability.
  2. Social development is about treating employees fairly and ensuring responsible, ethical, and sustainable treatment of employees, stakeholders, and the community in which a business operates. This may be achieved through more responsive benefits, like better maternity and paternity benefits, flexible scheduling, and learning and development opportunities. For example, business should operate using sustainable labour, which involves fairly-paid, adult employees who can operate in a safe environment.
  3. Economic development is probably the simplest form of sustainability. To be economically sustainable, a business must be profitable and produce enough revenues to be continued into the future. The challenge with this form of sustainability is achieving an equilibrium. Rather than making money at any cost, companies should attempt to generate profit in accordance with other elements of sustainability.

Focussing on social and environmental sustainability in addition to economic performance is an approach frequently referred to as the Triple Bottom Line.

What are the Primary Goals?

Recently, the UN issued The Sustainable Development Goals as its main aims for the successful achievement of a better and more sustainable future. They address global challenges to sustainability. The 17 Goals include sustainable economic growth, no poverty, zero hunger, clean water and sanitation, affordable and clean energy, and responsible consumption and production, and it is hoped that they will be reached by 2030.

How can it be Measured?

Sustainability is measured by assessing performance of the three main principles altogether, in particular a balanced treatment of all three. These three key principles of the Triple Bottom Line do not provide a measurement system of themselves, but recent methods of measuring sustainability have attempted to measure sustainability through them. Though no official universal measurement of sustainability exists, many organisations are developing industry-specific tools and practices to judge how social, environmental and economic principles function as part of a company.

How Does Sustainability Affect Business?

The Triple Bottom Line approach to operating a company is useful for businesses in a number of ways. Not only is it ethical and important to meet UN standards of environmental sustainability, it is also economical and allows a stronger business model. Additionally, sustainability enables an organisation to attract employees, shareholders and customers who are invested in the goals of sustainability and share these values. The impact of sustainability can therefore be positive for a business’ image as well as revenue.

Can it be Achieved?

In 2018, the EU Commission released six key transformations to be made. If properly implemented, these steps will allow better sustainability to be achieved by the current goal of 2050.

  1. Sustainable development is a societal challenge, not simply an environmental one – improvements of education and healthcare are therefore required to achieve higher income and better environmental decisions
  2. Responsible consumption and production, and the importance of doing more with fewer resources, are important to adopt a circular economy and reduce demand
  3. Decarbonisation of the energy industry, through clean energy resources and renewable processes, will be necessary to provide clean and affordable energy for all
  4. There should be food and clean water for all while protecting the biosphere and the oceans, which will require efficient and sustainable food systems, achievable through the increasing of agricultural productivity and reduction of meat consumption
  5. Smart cities: Settlement patterns should be transformed for the good of the population and the environment, which may be done through ‘smart’ infrastructure and internet connectivity
  6. A digital revolution in science, technology, and innovation would be required to support sustainable development, as it is hoped that the world will use the development of Information Technology to facilitate sustainability

The Future

With the climate crisis, there is a current movement towards sustainability as a more appealing priority for businesses, as people begin to live more sustainable lives. It is likely that, in the future, positive impact on climate over the whole value chain, improved impact on the environment, people, and atmosphere, and productive input on society, will be expectations for businesses. Companies will be held accountable for all aspects of industry, and any environmental damage or harmful emissions should be limited or removed from productive processes.

It is also expected that resources will be reused to suit the global increase in population in what is commonly referred to as a ‘circular economy’. This change would allow one person’s waste to be another’s resource, in a process that would greatly reduce waste and create a more efficient supply chain.

Commodity Trading

 Commodity Trading

Any goods that are unbranded and are commonly traded in the market are called commodities. Commodity exchange rate deals non financial commodities such as agricultural commodities like wheat, cotton and non- agro commodities. Commodity market include spot market where commodities are brought and sold for immediate delivery. In derivative market various financial instruments are traded as commodities. Commodity future is derivative instrument for future delivery of commodity at fixed date and particular price. Commodities have fast price movement and provide increased profit. In commodity profits one is only taxed based on one’s income. Commodities have intrinsic value and always have a value.Changes in supply impact the demand; low supply equals higher prices. A commodity pool operator (CPO) is a person (or limited partnership) that gathers money from investors and then combines it into one pool in order to invest that money in futures contracts and options. CPOs distribute periodic account statements, as well as annual financial reports. They are also required to keep strict records of all investors, transactions, and any additional pools they may be operating

The major commodity exchanges in India include National Spot Exchange Limited( NSEL), Indian Commodity Exchange Limited(ICEX), Multi Commodity Exchange(MCX), National MultiCommodity Exchange of India Limited(NMCE) etc. The commodity market in India is regulated by SEBI(Security Exchange Board of India)

Components of sustainable development

What are the components that cover sustainable development?

The method of development that considers the future of the earth is known as sustainable development. It focuses on establishing a better and cleaner environment for the future while taking into account how human actions for development affect the environment and ecological system. As a result, sustainable development refers to development initiatives that satisfy current needs without endangering the capacity of future generations to satisfy their own. The environment has gotten worse and many natural resources are on the point of running out as a result of increased industrialisation and technology. As a result, environmental deterioration is forcing humanity to pay attention, and sustainable development is crucial for resource management in industry. The United Nations’ sustainable development objectives place a strong emphasis on protecting natural resources.
The idea of sustainability is a nuanced approach that takes into account the pressing need for long-term solutions to the environmental issues brought on by numerous human activities. The social ripples adopt comprehensive and calculated strategies to raise awareness of the need for sustainable development and to advance the means of attaining it.
 The Social Ripples, a sustainable development programme whose goals are in line with those of the United Nations, promotes the idea that sustainable development encompasses society’s three primary pillars of economic, ecological, and human growth.
Economical component
More than 40% of the world’s population lives below the poverty line, unable to earn the minimum income necessary to support themselves. It affects individual and national development and stagnates individual socioeconomic well-being. The economic component of sustainable development therefore refers to the largest stream of income in terms of rational use of resources, especially scarce resources. To increase the economic well-being of developed countries, we need to build the quality and quantity of manufacturing products using new technologies. But the question is, can the planet support manufacturing, or is development activity taxing it by damaging the environment and depleting energy resources? The economic factor is therefore an important factor that people need to think about financial well-being by staying in harmony with the environment.
Ecological component
Ecological factors relate to three main functions of the environment.
• Resource exponentiation function
• Excretion receptor function
• direct benefit
These are directly related to how people use natural resources for economic development. The United Nations Sustainable Development Goals aim to create a better world so that future generations can live in a peaceful environment and meet their own needs. Therefore, ecosystem development is closely related to the interaction between economic development and environmental protection and improvement. The ecological component therefore generally refers to the use of renewable natural resources and the conservation of scarce natural resources. This is because our planet is the only planet endowed with various natural resources as environmental heritage.
Human component
All development activities are by and for people. Human development is therefore the most important component of sustainable development. Apart from the environment, human sustainability is related to social interactions, behavioral activities and mutual relationships, leading to both social and economic development. The human element of sustainable development therefore aims to create a stable and inclusive society to eliminate discrimination and loneliness among individuals in society. Instead, it focuses on promoting human well-being by understanding people’s needs where they live and work. The human component of sustainable development includes the following goals:
• Promoting environmental education, training and public support;
• Protect and promote human health (Sustainable Development Goal 3: Health and well-being)
• Poverty reduction (Sustainable Development Goal 1: End poverty in all its forms)
• Demographic threats to sustainable development, especially by focusing on population growth in developing countries

Sustainable development

 Sustainable development 

Sustainable development is simply based on the model that human should live their life comfortability by fulfilling all their needs without disturbing the availability of resources for our future generation. for achieving sustainable development we need to preserve our natural resources without haunting our quality of life socially & economically.

this is not a new theory which is we are studying, this concept has been followed by many cultures over the course of history with the motive of stabilizing human needs with the availability of resources.

why do we need it? Today we are so focused on making our country developed and augmenting its growth that we somehow overlook our health as in this process the quality of our natural resources is diminishing for instance reduction in the quality of air winds & climate change for greenhouse release and so on.

what are the goals of sustainable development :

  • Reduce inequality is one of the major problems which we see on our daily basis as it happens within and among the countries, for instance, lower paying income inequality in areas of a country or preferring specific country for trading as it is showing some goods changes as well as but still there is more to do because it discriminates the people for using the resources equally and moreover it augments the utilization unnecessarily. 
  • as per the UN reports access to electricity in poor countries has been started in a speedy way and energy efficiency is going to be better and renewable energy is also contributing effectively.
  • education is very important for any child as it helps in reducing poverty in a country and contribute to its growth but as there are areas in our society where people don’t think so socially about girl’s education they tend to avoid but the data shows that it has also drastically changed and now the education or literacy rate has increased over the years.
  • clean water availability is hampering the people’s health as it is so important to drink safe & clean water as it dilutes our system but one of our three people don’t have the access of that as during the covid time it was become more important to keep our self safe but still there is a lot of work to do.
  • gender inequality is also a major issue in our society as boys are given more priority than the girl in everything when it comes to giving education or marriage there are many places where girls are been forced to marry early without consulting with them as their parents could not afford the education cost of them so it is a serious issue because until people will not change their mindset there will no changes seen to have.

Artificial Intelligence

 Artificial Intelligence 

Artificial intelligence is concerned with building smart machines that are capable of performing tasks that need human intelligence. It allows machines to replicate capabilities of human mind. The development of self driven cars to smart assistants like Alexa and Siri. AI has ability to store past data and predictions when it gather information and make decisions. Many institutions and teams are continuously training models of AI to analyze and make use of its data more effectively. They are built in such a way that it can renewed and trained automatically. The model must be able to make predictions and able to understand and receive environment and human feedbacks. Artificial intelligence can make and feel decisions through self determination and self reflection and take decision of their own. AI posses human level consciousness and know their existence in this world, understand the basic needs and emotions of people. 

Reactive Machines – It is able to and capable of using its intelligence to perceive and react to the world that it sees. It can’t store memory and it doesn’t have any experience to make and inform decision. They are developed to perform specialized duties. AI can be reliable and trusted. AI is useful in development of powerful vaccines to automatic detection of fakes and frauds. It is used in banking activities and companies using AI solutions to manage their risks and revenue. It gives accurate information about medical diagnosis in patients. 

Online shopping and advertising

Artificial intelligence is widely used to provide personalised recommendations to people, based for example on their previous searches and purchases or other online behaviour. AI is hugely important in commerce: optimising products, planning inventory, logistics etc.

Web search   

Search engines learn from the vast input of data, provided by their users to provide relevant search results.

Digital personal assistants

Smartphones use AI to provide services that are as relevant and personalised as possible. Virtual assistants answering questions, providing recommendations and helping organise daily routines have become ubiquitous.

Machine translations- Language translation software, either based on written or spoken text, relies on artificial intelligence to provide and improve translations. This also applies to functions such as automated subtitling.

Smart homes, cities and infrastructureSmart thermostats learn from our behaviour to save energy, while developers of smart cities hope to regulate traffic to improve connectivity and reduce traffic jams.

Income tax

 Income Tax

What is income tax?

Income tax is a direct tax that a government levies on the income of its citizens. The Income Tax Act, 1961, mandates that the central government collect this tax. The government can change the income slabs and tax rates every year in its Union Budget. 
Income does not only mean money earned in the form of salary. It also includes income from house property, profits from business, gains from profession (such as bonus), capital gains income, and ‘income from other sources’. The government also often provides certain leeway such that various deductions are made from an individual’s income before the tax to be levied is calculated. 

Types of income tax 

1. Income Tax Act:

Income Tax Act is also called the IT Act, 1961. Income Tax in India is governed by the rules set by this act. The income taxed by this act can be generated from any source such as profits received from salaries and investments, owning a property or a house, a business, etc. The IT Act defines the tax benefit you can avail of on a life insurance premium or a fixed deposit. It also decides the savings from your income via investments and the tax slab for your income tax. 

2. Wealth Tax Act:

The Wealth Tax Act came into effect in the year 1951 and is in charge of the taxation linked with an individual’s net wealth, a Hindu Unified Family (HUF), or a company. The easiest computation of wealth tax was:
If the net wealth of an individual exceeds Rs. 30 lakhs, then 1 percent of the exceeded amount is payable as a tax. It was put to an end in the budget that was announced in 2015. Since then, it has been substituted with a surcharge of 12 percent on the individuals that generate an income of more than Rs. 1 crore p.a. It is also pertinent to the companies, which have generated revenue of over Rs. 10 crores p.a. The fresh guidelines radically raised the sum the government would accumulate in taxes as disparate the amount they would accumulate via wealth tax.

3. Gift Tax Act:

This Act was brought into existence in the year 1958 and assured that if a person received gifts or presents, valuables, or monetary, he has to pay a tax on those gifts. The tax on the aforementioned gifts was sustained at 30 percent but it was put to an end in the year 1998. Originally, if a gift was given, and it was somewhat like shares, jewelry, property, etc. it was subject to tax. As per the new rules, the present given by the members of the family like parents, spouses, uncles, aunts, sisters, and brothers is not subject to tax. Even presents you receive from the local authorities are also exempted from such taxes. If somebody, other than that of the exempted entities, presents you anything, which has a value beyond Rs. 50,000 then the whole gift amount is subject to tax.

4. Expenditure Tax Act:

The Expenditure Tax Act came into existence in the year 1987 and cope with the expenditure made by you, as a person, may incur whilst you avail the services of a restaurant or a hotel. It is appropriate to the entire nation other than Jammu and Kashmir. It asserts that some expenses are liable under the act if the amount is beyond Rs. 3,000 contingents upon a hotel and all the expenses drawn in a restaurant.

5.  Interest Tax Act:

This Act of 1974 copes with the tax, which was chargeable on interest produced in some specific situations. In the Act’s last amendment, it is stated that this act does not apply to interest earned after March 2000.

 Advantages of income tax 

Personal benefits

1. Visa applications

If you are planning to visit countries like Canada, the USA, or the United Kingdom, it is compulsory for Indians to provide the income tax return (ITRs) of the last 3 years for easy visa approval. Payment of income tax to the home country government acts as an assurance for other countries that you are not leaving the origin country for tax evasion purposes.

2. Quick credit approval

Regular payment of income tax to the Government of India is considered important when you have applied for big-ticket loans like home loans, business loans, or personal loans. Before approving the loan, the lender always asks the loan applicant to submit copies of ITR.

3. Income proof

For all self-employed professionals like freelancers, firm partners, or consultants, filing income tax acts as income proof. It works in cases where professionals are not getting a fixed salary from any particular company. It plays an important role in all financial and business transactions.

Public benefits

1. Acts as the main source for augmenting country’s revenue

The primary objective of taxing the citizens of India is to raise revenue for the smooth running of government activities.

2. Helps to improve public infrastructure

The income tax paid by the citizens of India is used by the Government of India for improving the quality of infrastructure like public places, smart cities, and government institutes. All the funding of infrastructure projects arises from the tax amount collected from the country’s taxpayers.

3. Launching of various welfare schemes

From education and health, to housing and employment, the government is launching and running various welfare schemes to provide benefits to Indian citizens. The main source of funding for all these government schemes is the cumulative income tax paid by taxpayers.

4. Use in defense and scientific research

We are all proud of missions conducted by the Indian Space Research Organization, and all these missions require huge funding. This is provided by the Government of India. A percentage of the tax money collected is earmarked by the government to space research organizations for running space missions.

5. Reducing income inequalities

The taxation policy of the government is the best way to reduce income inequalities in India. By applying a progressive taxation system, the rich are asked to pay more taxes as compared to the poor. Taxes paid by the rich section of the society are utilised for social services that particularly benefit the disadvantaged sections of society.

The Disadvantages of Income Tax in India

1. Inability to carry forward losses

Each of the assessees is entitled to carry forward the losses if they were unable to set off any of the losses incurred against the earned income subjected to income tax rules and provisions. In case the assessee attempts a tax evasion, he or she cannot carry forward the losses.

2. Need to pay a heavy penalty

If you delay filing an income tax return, then you are liable to pay a penalty of Rs 5000. The assessing officer has the authority to waive the levied penalty. The taxpayer gets a reasonable opportunity of being heard before the penalty is imposed. But it is always wise to adhere to the rules and regulations.

3. May affect people’s will to work and save

Imposing higher rates of taxation on people may escalate discouragement to work hard and save. They will start believing that the more their earnings and savings, higher will be the taxation.

4. Inflation

When taxation is imposed on a commodity, the cost of that commodity also increases. It will indirectly also increase the cost of production due to which one needs to pay higher wages to workers; this will, in turn, further increase the price of the commodity.

5. Other implications

Payment of income tax is of prime importance to assess the creditworthiness of a taxpayer. If you are not paying tax on time, it may prove to be a hindrance to your financial activities in many ways.

Government Exam

Government Exam

 If you have passed out of college or university, what is the next step you will choose? After college or university, some will opt for higher studies and some will find jobs. When we say the word job the first thing that comes to our mind is if we get a government job then our life will be sorted out. Today’s Competition is so tough that if you get a private job, government job or a job in any other sector you will be very lucky. Every year lakhs of students apply for government jobs because government jobs have many facilities other than private jobs. So now the question is: What is a Government job?

Government jobs are those jobs which the government organises for providing government jobs to the ones who get on their merit basis. There are many government exams and various organisations which conduct the exams. These are some organisations – UPSC, LIC, SSC, IBPS, RBI and more.

Some government exams are –

SSC CHSL – The post for SSC CHSL (Combined High Secondary Graduate Level) is a national wide exam for the post of DTO, LDC, PA, and SA in different central government departments.

IBPS PO – Institute of Banking Personnel Selection (IBPS) is the exam for those who want to join the banking industry. The exams are held in September and October and the notice comes out in August every year.

RBI Grade B – Reserve Bank of India (RBI) is owned by the Government of India. Every year RBI conducts an exam to recruit officers which are referred to as RBI Grade B officers.

SSC CGL – Staff Selection Commission for Combined Graduate Level (CGL) is the exam conducted for officer and assistant level posts for various departments.

UPSC – Union Public Service Commission (UPSC) is considered the toughest exam for UPSC. It conducts exams for various posts like IFS, IAS, IPS and other groups A and B posts.

SBI PO – State Bank of India (SBI) holds exams for Probationary officer PO which is one of the best jobs after graduation one can do. This exam has 3 tiers

Prelims

Mains

GD or interview for the SBI PO exam

How to prepare for any exam?

Know your marking pattern and syllabus – This is the most important thing to prepare for an exam because if you don’t know the syllabus what will you read? You should know the marking pattern. It helps you to find how many questions will carry how many marks. You will get an idea of the paper 

Make a timetable for your studies- First thing you should make a timetable for all the subjects you need to study. If you study according to your timetable you will cover up your whole syllabus and you will get time to study equal portions for all the subjects.

Take breaks in between – Taking breaks in between the studies is also important because if you continue to study for ⅔ hours you will get bored and the main thing is your brain also needs some rest. If you take short breaks between your studies you will feel fresh and you will be able to concentrate on your studies.

Revision of the entire syllabus – Before your exams, you should end your whole syllabus and do revisions. This will help to remember everything and if you left out something you can get enough time to read that particular topic or the question.

Watch YouTube videos and attempt daily mock tests – If you have any doubts regarding questions you can follow ½ channels regularly on YouTube in that particular subject and you can learn. You can also attempt daily quizzes and tests which they organise or many apps are available in the play store for conducting mock tests for heh exams.

Basics must be clear – Basics should be clear always because if you don’t clear your basics you will not be able to understand further studies. Basics must be cleared.

For any competitive exams, you should follow all the tips to clear the exams. For every dream, you see you have to do hard work to achieve that dream for a better life.

All the best wishes to everyone who is doing hard work for their upcoming exams.

National Sports Day

 National Sports Day

National Sports Day or Rashtriya Khel Divas is celebrated on 29 th August in memory of the birth anniversary of Dhyan Chand who is born on this date in 1905. In this day people of different ages participate in sports like marathon, kabaddi, cricket and many more. In this day in many places arrange some sports activities or tournaments to spread awareness of physical activities in our life. The government has also introduced many schemes including the Khelo India movement in 2018. Every year at Rashtrapati Bhawan awards is given like the Dhyan Chand award, the Dronacharya Award, the Arjuna award and the Rajiv Gandi Khel Ratna award to the real heroes of our nation who brings pride to our country. In Haryana, Karnataka and Punjab many sports events and seminars are also organised on sports day.

Stock Market

 Stock Market

What is stock market?

A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind.

Benefits of stock market

The stock market provides the investor with several benefits and provides them with the easy handling of their money. These benefits include;
 

1. Gain received 

 
The ability of the market to generate the kinds of gains it does is the most essential component of investing directly in markets.
 
Stock markets have always stood the test of time, rising in value over time, even though individual stock values fluctuate daily, according to historical data.
 
Investing in companies with a consistent growth pattern and increased earnings every quarter, or in industries that contribute to the country’s economic growth, will result in you steadily developing your wealth and growing the value of your investment over time.
 
As this value grows, there is a gain of money and the investors receive all the benefits over the money they had invested. It is said that a long-term investment in certain stocks is a guarantee of gain in the stock market.

2. Safety against Inflation

 
The fundamental goal of investments is to guarantee our future, but we must keep track of inflation regularly.
 
The gains will be nil if inflation and the rate of return on investments are comparable. In an ideal world, the rate of return on investments would be higher than inflation.
 
Stock markets and benchmark indexes have consistently outperformed inflation.

3. Liquidity or Ease of conversion 

Stocks are considered liquid assets since they can be easily converted to cash and have a large number of purchasers at any given time.
The same cannot be said for all assets; some, such as real estate, are difficult to sell. It could take months to see a return on your home investment. It is, however, much simpler in the case of stocks.
 
If the average volume of transactions is high then we can say that there are multiple buyers and sellers for that specific stock.
 
This liquidity of a stock market is one of the key benefits for the investors as the process never stops.

4. Investors gets the advantage of economy 

 The stock market is always a factor in a thriving economy, and it responds to all economic growth indices like gross domestic product (GDP), inflation, corporate profit, and so on.
 Investors in the stock market can directly benefit from a thriving economy, and the value of their investments rises in lockstep with economic expansion.
 
When an economy is growing, corporate earnings rise, and as a result, the ordinary individual’s income rises.
As a result, customer demand rises, increasing sales. As a result, the value of your investment in a specific company rises, i.e. the share price rises.

5. Transparency 

The stock market in every country is regulated by a regulatory body, for example in India, the body is SEBI. the market functions by the guidelines of it and the bodies regulate stock exchange, transparency in the market, and protect the rights of investors. 
This means that when an investor invests in the stock market, not only his money but also his rights are protected by these regulatory bodies. This saves them from any kind of fraudulent activity done by the company they have invested in.
 
This makes the investments even secure and gives the investors the confidence and trust of no mishappenings.
 

Types of stock market 

1.  Growth stocks

These are the shares you buy for capital growth, rather than dividends. Growth stocks are essentially shares in those companies that are generating positive cash flows and whose earnings are expected to grow at an above-average rate relative to the market.
It’s worth remembering that some of the most successful firms in the US economy pay out relatively miserable dividends, such as Warren Buffett’s Berkshire Hathaway. If anything, they are the equivalent of a real estate investment. You buy and hold, riding the appreciating value of the asset. For the first few years you may not make much on the shares but if you hold onto them for long enough, and good quality managers avoid the pitfalls along the way, you’ll be well looked after when other investors hop on board at higher prices.
An example in Australia is CSL, the old Commonwealth Serum Laboratories. The shares are only yielding 1.62 per cent a year in terms of dividends but long term holders aren’t complaining. The former Government laboratories were privatised in 1994 at $2.30 a share and the shares have since gone up by a factor of more than 45 times. They broke through $100 in December and are now around $107 each.

2. Dividend aka yield stocks

Yield stocks, ideally, are those that perform well in bull markets while providing partial downside protection for investors in bear markets. They are the stocks of choice for the income-seeking investor.
The stock yield is calculated by dividing the yearly dividends paid by the company to the company’s share price. For example, if a company is expected to pay out $0.50 in dividends over the next year and is currently trading at $20, the dividend yield is 2.5%.
It is because of their dividend yield that the four big banks and Telstra account for well over half of retail investors’ shareholdings in Australia. They have been sold down since late last year on the reasonable basis that the economic outlook outlook is not rosy, but they’re not going out of business any time soon.
ANZ’s weak half year profit result last week saw the six month dividend cut from 95c to 80c, but a recovery in the share price on Budget Day, the day after the result, to just under $25, meant that the shares are yielding 6.4 per cent. If you are retired and not paying tax, the dividend imputation system means that if you buy at these levels, you’re getting more than 8 per cent in your hand per year.
While of course the higher the yield, the better, savvy investors are also aware that the stability in the cash flows and the business are also important considerations when purchasing shares for income.

3. New issues

Also known as Initial Public Offerings or IPOs, these are why the share market was created in the first place. These events mark the first time that companies make their shares available to the public. Once they’re listed on the share market, of course, any one can buy and sell but what is often lucrative is getting an allocation in the IPO before the shares list.
In times past, ordinary mortals found it hard to get access to those new floats unless the promoters were having trouble filling them. That’s changing now, thanks to technology, and the returns in recent times have been very good indeed. In 2015 IPOs returned 24 per cent on average.
We reported last week that investors in companies that have used our technology to buy the 25 mainly small companies we floated since they started in October 2013 would have found themselves ahead by significant amounts, particularly if they held on to the shares for a year.
We calculated that if they’d bought the full spread of 25 floats, investors would have been up
1. 5.1% if they sold on the first day
2. 9.3% if they sold at the end of the first month
3. 30.6% if they sold at the end of the first 3 months, and
4. 86.3% if they sold at the end of the first year.•
 

4. Defensive stocks

These are the shares that don’t go down so much when times are tough because they sell consumer staples. Typically, these types of stocks provide a constant dividend and report stable earnings regardless of the state of the share market as a whole.
Also known as non-cyclical stocks, these companies operate businesses that are not highly correlated with the economic cycle such as utilities, food, and (traditionally) oil. You don’t give up going to the supermarket, for instance, even in a recession.

All About Make In India

Make in India 

Launched in September 2014, the Make in India program is a government initiative focused on encouraging companies to manufacture in India. This government initiative aims to boost the domestic manufacturing sector and increase foreign investment in the country.

This article discusses the key points of the Make in India Program campaign and the purpose and significance of the Make in India Program for the Government of India. This is one of the main projects of the current government. 

Make in India Program

The make in India program is one in all the key comes of the govt of India. Through the create in India program, the government intends to:

• Revive the heretofore insulating material producing sector of India to boost the expansion of the economy. 

• Encourage foreign businesses to speculate in India for his or her manufacturing needs.

 • Improve India’s rank in ‘Ease of Doing Business index. simple doing business could be a report printed by the planet Bank. It compares the Business Regulation in a hundred ninety Economies. In 2020, India’s rank within the simple Doing indicator was 63. 

• Develop India right into a worldwide production hub.

• And to enhance employment possibilities withinside the country.

•Sectors Covered Under Make in India Program

Through the Make in India program, the authorities is  centered on growing jobs and launchin ability improvement programmes in a number of the important thing sectors. These sectors include Automobiles, Construction, Ports, Tourism and hospitality, Biotechnology, Aviation, Defence manufacturing, Leather, Railways, Space, Chemicals, Electrical machinery, Media and entertainment, Automobile components, Thermal power, IT & BPM, Food processing, Wellness, Renewable energy, Pharmaceuticals,Textiles and garments and Mining.

Objectives of Make in India Program

There are numerous objectives aimed toward through the Make in India Program. They are:

• Raising the boom withinside the production region to 12-14% according to year.

• Creation of a hundred million extra jobs withinside the production region through  2022.

• Increasing the proportion of the producing region withinside the GDP to 25% through 2022.

• Skill Development many of the city negative and the agricultural migrants to foster inclusive boom.

• Encouraging environmentally sustainable boom.

• Enhancing the worldwide  competitiveness of the Indian production  region.

Key Schemes Launched to Support Make In India Program

Key Schemes Launched to Support Make In India ProgramThere are numerous key schemes released with the aid of using the authorities of India to guide the Make in India marketing campaign from time to time. These include:

• Skill India Mission

This venture objectives to talent 10 million in India yearly  in numerous sectors. To guide the powerful implementation of the Make In India marketing campaign, there’s a want to upskill the massive human aid available. Currently, the share of officially professional team of workers in India is simplest 2% of the population. The Skill India programme objectives to widen this percent thru numerous talent improvement programmes throughout the country.

 • Startup India

Startup India Program objectives to Construct an atmosphere that fosters the increase of startups, using sustainable financial increase, and growing massive-scale employment. Under this program, the authorities has  delivered numerous key relaxations for entrepreneurs. 

• Digital India

This objectives to convert India right into a knowledge-primarily based totally and digitally empowered economic system through making many offerings absolutely online. 

• Pradhan Mantri Jan Dhan Yojana (PMJDY)

The venture envisages monetary inclusion to make certain get right of entry to to monetary offerings, specifically banking savings & deposit accounts, remittances, credit, insurance, pension in an low cost manner.

• Smart Cities

This venture objectives to convert and rejuvenate Indian towns. The purpose is to create one hundred clever towns in India thru numerous sub-initiatives.

• AMRUT

AMRUT is the Atal Mission for Rejuvenation and Urban Transformation. It objectives to construct fundamental public facilities and make 500 towns in India extra livable and inclusive.

• Swachh Bharat Abhiyan

This venture objectives to make India cleanser and sell fundamental sanitation and hygiene.

• International Solar Alliance (ISA)

The ISA is an alliance of nations maximum of which lie withinside the temperate zone. This is India’s initiative aimed toward selling studies and improvement in sun technology and formulating regulations in that regard. The headquarters of ISA is in Gurugram.

• Sagarmala

This scheme aims at developing ports and promoting port-led development within the country. Several ports are being constructed and renovated under this project. 

•AGNII

 AGNII or Accelerating Growth of recent India’s Innovation was launched to push the innovation ecosystem within the country by connecting people and assisting in commercializing innovations.

Amazing facts about NASA

 NASA ( National Aeronautics and Space Administration)

NASA (National Aeronautics and Space Administration) is a government based agency of US that plays an important role in science and technology related to air and space. In 1957, the Space Age started with the launch of the Soviet satellite Sputnik.

 

Amazing facts about NASA

1. In 1958, NASA was established by President Dwight D. Eisenhower. That time it was established as a civilian independent agency of the United States federal government executive branch.
2. Let us tell you that before the establishment of NASA, President Woodrow Wilson started the National Advisory Committee for Aeronautics (NACA). The main function is to supervise and to direct scientific research and to study problems related to flight.
3. Do you remember, Sputnik 1 which was the first artificial satellite in the world that was launched by Soviets just one year before the establishment of NASA?
4. A series of satellites named Landsat was launched into space in 1972 with a purpose to click the photograph of Earth’s surface from the outer space.
5. By the end of 1960s, President John F. Kennedy gave NASA a goal of sending man to the moon. On 20 July, 1969, the first man walked on the moon as a part of the Apollo 11 mission. During all Apollo missions around twelve men walked on the moon. The lunar landing of Apollo 13 in 1970 was aborted after the explosion of an oxygen tank.
6. A research aircraft used by NASA known as SR-71 or “Blackbird” for testing high-speed, high altitude aeronautical research. In 1950s, it was secretly designed at Lockheed’s Advanced Development Company also known as “Skunk Works”.
7. The headquarter of NASA is in Washington, D.C. It has nine centers, the Jet Propulsion Laboratory and seven test and research facilities located in several states around the country. Do you know that more than 17,000 people work for NASA and many work with the agency as government contractors? Astronauts are the best-known NASA employees. Most of the workers in NASA are scientists and engineers. People do several other jobs also here like writers, lawyers, teachers etc.
8. Currently, NASA has astronauts living and working on the International Space Station. Everywhere in the solar system NASA’s robotic space probes have visited and also in various celestial bodies. With the help of telescope, scientists look at the far reaches of space. In fact Satellites helped and provide several data about Earth, which had helped to understand several phenomena’s and valuable information for better understanding the weather patterns.
9. NASA also showed movie named Armageddon to new staff and then question them about inaccuracies in the film. At least 168 have been identified. In 1972, NASA and the Department of Health, Education and Welfare founded the Learning Channel (TLC).
10. Do you know that NASA has a program for dealing with life on other planets and if it should be discovered known as the Office of Planetary Protection?
11. A “waterworld” is also discovered by NASA which is about 40 light years away from the earth and might contain some exotic materials like hot ice and super fluid water.
12. A spaceship was designed by NASA which is capable of using a nuclear explosion to deflect an oncoming asteroid. Also, a NASA scientist invented the Super Soaker squirt gun.

Artificial intelligence

 Artificial Intelligence

What is artificial intelligence?

Artificial Intelligence (AI) Explained
In the simplest terms, AI which stands for artificial intelligence refers to systems or machines that mimic human intelligence to perform tasks and can iteratively improve themselves based on the information they collect. AI manifests in a number of forms. A few examples are:
1. Chatbots use AI to understand customer problems faster and provide more efficient answers.
2. Intelligent assistants use AI to parse critical information from large free-text datasets to improve scheduling.
3. Recommendation engines can provide automated recommendations for TV shows based on users’ viewing habits.
AI is much more about the process and the capability for superpowered thinking and data analysis than it is about any particular format or function. Although AI brings up images of high-functioning, human-like robots taking over the world, AI isn’t intended to replace humans. It’s intended to significantly enhance human capabilities and contributions. That makes it a very valuable business asset.

Types of artificial intelligence 

1. Purely reactive 

These machines do not have any memory or data to work with, specializing in just one field of work. For example, in a chess game, the machine observes the moves and makes the best possible decision to win. 

2. Limited memory 

These machines collect previous data and continue adding it to their memory. They have enough memory or experience to make proper decisions, but memory is minimal. For example, this machine can suggest a restaurant based on the location data that has been gathered.

3. Theory of mind 

This kind of AI can understand thoughts and emotions, as well as interact socially. However, a machine based on this type is yet to be built. 

4. Self – Aware 

Self – Aware machines are the future generations of these new technologies.
They will be intelligent , sentient , and conscious .

Importance of artificial intelligence 

1. Artificial Intelligence’s importance and subsequent components have been known for a long time. They are being seen as tools and techniques to make this world better. And it’s not like you have to go through to be able to use these fancy tech gadgets. You can look around, and I’m sure most of your work is smoothed out by artificial intelligence.
2. Its importance lies in making our life easier. These technologies are a great asset to humans and are programmed to minimize human effort as much as possible. They can operate in an automated fashion. Therefore, manual intervention is the last thing that can be sought or seen during the operation of parts involving this technology.
3. These machines speed up your tasks and processes with guaranteed accuracy and precision, making them a useful and valuable tool. Apart from making the world an error-free place with their simple and everyday techniques, these technologies and applications are not only related to our ordinary and everyday life. It is affecting and holds importance for other domains as well.

Difference between artificial intelligence and machine learning

Artificial Intelligence and Machine Learning are the terms of computer science. 
Artificial Intelligence comprises two words “Artificial” and “Intelligence”. Artificial refers to something which is made by humans or a non-natural thing and Intelligence means the ability to understand or think. There is a misconception that Artificial Intelligence is a system, but it is not a system. AI is implemented in the system. There can be so many definitions of AI, one definition can be “It is the study of how to train the computers so that computers can do things which at present humans can do better.” Therefore It is an intelligence that we want to add all the capabilities to a machine that human contains.
Machine Learning is the learning in which a machine can learn on its own without being explicitly programmed. It is an application of AI that provides the system the ability to automatically learn and improve from experience. Here we can generate a program by integrating the input and output of that program. One of the simple definitions of Machine Learning is “Machine Learning is said to learn from experience E w.r.t some class of task T and a performance measure P if learners performance at the task in the class as measured by P improves with experiences.” 

Books which everyone should read

 Books which everyone should read 

Everyone wants to develop a habit of reading. I don’t know whether everyone likes to read books or not but I am sure everyone just wants to develop a habit of reading because they know that the habit of reading is best habit that anyone can adopt.
So here are some books which should be read by everyone.

1. 1984 by George Orwell 

1984 tells the futuristic story of a dystopian, totalitarian world where free will and love are forbidden. Although the year 1984 has long since passed, the prophecy of a society controlled by fear and lies is arguably more relevant now than ever.

2. The Lord of the Rings by J.R.R Tolkien 

Tolkien’s fantasy epic is one of the top must-read books out there. Set in Middle Earth – a world full of hobbits, elves, orcs, goblins, and wizards – The Lord of the Rings will take you on an unbelievable adventure.

3. The Kite Runner by Khaled Hosseini

The Kite Runner is a moving story of an unlikely friendship between a wealthy boy and the son of his father’s servant. Set in Afghanistan during a time of tragedy and destruction, this unforgettable novel will have you hooked from start to finish.

4. Harry Potter and the Philosopher’s Stone by J.K. Rowling

This global bestseller took the world by storm. So, if you haven’t read J.K. Rowling’s Harry Potter, now may be the time. Join Harry Potter and his schoolmates as this must-read book transports you deep into a world of magic and monsters.

5. Slaughterhouse-Five by Kurt Vonnegut

Slaughterhouse-Five is arguably one of the greatest anti-war books ever written. This rich and amusing tale follows the life of Billy Pilgrim as he experiences World War II from a peculiar perspective.

6. The Lion, the Witch, and the Wardrobe by C.S. Lewis

The Lion, The Witch, and the Wardrobe is undoubtedly one of the great books of all time. This renowned fantasy novel is set in Narnia, home to mythical beasts, talking animals, and warring kingdoms. The story follows a group of school children as they become entangled in this incredible world’s fate.

7. To Kill a Mockingbird by Harper Lee

                      
To Kill a Mockingbird is one of the top must-read books of all time. Published in 1960, the story explores life in the Deep South during the early 20th century through the story of a man accused of a terrible crime. It’s poignant, humorous, and gripping.

8. The Book Thief by Markus Zusak

The Book Thief is a story of bravery, hope, and friendship in a time of Nazi tyranny. Narrated by Death itself, this novel will have you holding your breath for chapters at a time.