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Analyse the current economic conditions of India after lockdown.

 By: Astha Raghav. 

The current economic conditions of the COVID-19 pandemic in India has been largely disruptive. India growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics.  The Chief Economic adviser to the Government of India said that this drop is mainly due to the corona virus pandemic effect on the Indian economy Notably India had also been witnessing a pre- pandemic slowdown, and according to the World Bank, the current pandemic has “magnified pre- existing risks India’s economic outlook “. Manufacturing and the urban economy had come to a grinding halt while the rural economy continued to move because of less strict lockdown. While the lockdown took a toll on the economy, the number of infection cases continues to climb with growth prospects for the current quarter collapsing.  The country’s lockdown began in late March and was subsequently extended several time. Stringent restrictions halted most economic activities and caused millions of people, many of them daily wage earners, to lose their jobs and revenue streams. To mitigate the economic fallout, Prime Minister Narendra Modi’s government had announced a $266 billion support package containing both fiscal and monetary measures, said to becworth around 10% of India’s GDP. b
But economists have said the package will do little to stimulate growth, as it includes very little planned government spending and benefits of several measures are expected to only be seen in the medium term. While the impact on India GDP  for the current quarter will not be known for a few more months.
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Neutraceuticals as an alternative of pharmaceuticals

 By: Astha Raghav 

Neutraceuticals is a broad umbrella term is used to describe any product derived for food sources with extra health benefit in addition to the basic nutritional value found in foods. 

Neutraceuticals are products, which other than nutrition are also used as medicine. A neutraceuticals products may be defined as a substance, which has physiological benefit or provides protection against chronic diseases. Neutraceuticals may be used to improve health, delay the aging process, prevent chronic diseases, increase life expectancy or support the structure or functions of the body. Nowadays, neutraceuticals have received considerable interest due to potential nutritional, safety and therapeutic effects. In recent studies have shown promising results for these compounds in various complications. The recently published papers about different aspects of neutraceuticals as alternative for pharmaceutics were searched using scientific sites such as Medline, PubMed and Google Scholar. It included neutraceuticals and allergy, Alzheimer, cardiovascular, cancer, diabetes, eye, immune, inflammatory or Parkinson. 

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IMPORT PROCEDURE

The buying
of goods and services from outside the nation is called importing. Usually, it
is done in case the country is not able to produce that good themselves
efficiently due to lack of resources. The process of importing is a lengthy
one. There are lots of paperwork and decisions made in order to trade
internationally. Let’s have a look at the procedure here.

 

1.TRADE
ENQUIRY

The first
and foremost step is to enquire and collect all the information about the
countries and the firms that can export the required goods in the importing
nation. The importer comes into contact with the exporter with the help of a
‘trade enquiry’ where he requests for all the details related to the goods need
to be imported.

In response
to the enquiry, the importer receives a ‘Performa Invoice’ which
contains all of the information that he asked for.

 

2.IMPORT
LICENSE AND IEC NUMBER

Some goods
can be shipped across nations freely without any restrictions. But some goods
need a license to be imported to a certain territory. This list of restricted
goods can be checked through the ‘Export Import Policy’ (EXIM). A
license must be acquired if the required goods falls under this list.

Also, in
India, it is necessary for all the importers to register themselves under the
Directorate General Foreign Trade (DGFT) and get an Import Export Code (IEC)
which must be mentioned on the import documents.

3.FOREIGN
EXCHANGE

Now, the
importer has to arrange for foreign exchange as the payment for the goods must
be made in the currency of the exporting country. For instance, India will have
to pay in US Dollars if the goods are being imported from USA. In India, these
exchanges can be procured by the Exchange Control Department of Reserve Bank of
India.

 

4.PLACE
ORDER

After the
foreign exchange is procured, the importer has to place an order to the
exporter with all the necessary information such as quantity, quality,
insurance, weight, date and time of delivery, packaging and lot more. This
order can either be directly placed by the importer or could be placed through
a middleman.

 

5.LETTER
OF CREDIT (LOC)

An exporter
needs to be sure about the financial condition of the importer to secure his
payment. For this reason, he demands for an LOC from the importer which is
issued by the importer’s bank as a guarantee that the importer is financially
stable enough to make the payments. This LOC will only be issued by the bank if
they are sure about his credibility.

 

6.FINANCE
ARRANGEMENT

The importer
has to pay for the goods when they arrive in order to retrieve them. Therefore,
he must arrange the finance way before the delivery of the goods so that he
won’t be penalized for letting the goods stay at the port due to insufficient
funds.

 

7.RECEIPT
OF SHIPMENT ADVICE

After the
exporter has loaded the goods on the ship, he prepares a ‘shipment advice’
for the importer which contains information such as description of the goods,
bill of lading, date and time, name of the ship, invoice number and more.

 

8.IMPORT
DOCUMENTS

After the
shipment of the goods, the exporter hands over the important documents like
bill of lading, packaging list, marine insurance police, certificate of origin
etc. to the banker of the importer to be sent to the importer. These documents
are only delivered to the importer when he accepts the bill of exchange.

 

9.ARRIVAL
OF GOODS

At the
arrival of the goods, the one in charge of the ship informs the in charge of
the dock and provides him with a ‘general manifest’ which contains all
the information regarding the imported goods. The unloading of the goods in the
importing country takes place on the basis of this document.

 

10.CUSTOMS
CLEARANCE

In order to
take the delivery, the importer has to clear the customs duty. Firstly, the
importer has to get a delivery order by the shipping company in order to take
the delivery. Then he must pay the dock charges for receiving the goods on the
port. After this, a ‘bill of entry’ has to be filled by the importer for
the assessment of the customs duty. This bill of entry consists of the name and
address of importer and exporter and information about the goods.

Only after
the completion of these process is the importer allowed to take away the
consignment with him.

Gandhi Jayanti

 By: Astha Raghav. 

Gandhi Jayanti is celebrated on October 2 every year to mark the birth anniversary of Mohandas Karamchand Gandhi, popularly known as Mahatma Gandhi. Known as the ‘Father of the Nation’, the ideologies, struggles and kindness of Gandhi drove India to its independence. One of the most prominent leaders of India’s independence movement, Gandhi was the man behind non-violent civil disobedience.

This year will mark the 152nd birth anniversary of Mahatma Gandhi and the entire world observes this day as ‘Gandhi Jayanti’. It is a national holiday in India to honour the legendary leader without whom India wouldn’t have tasted independence. The United Nations also observe Gandhi Jayanti as ‘International Day of Non-Violence’ every year.

Gandhi played a key role in India’s freedom movement and his philosophies towards India have impacted people’s lives. His method of non-violence inspired many civil rights movements in the world and he also fought to bring significant changes in society.

Who was Mahatma Gandhi?

Born on October 2, 1869, in Porbandar in Gujarat, Mahatma Gandhi is considered as the nation’s tallest leader of the independence movement. As a child, he always expressed his feelings about patriotism and united India with his thoughts and ideologies to fight for freedom.

He successfully led India’s non-violent movement against the colonial British empire. He went to South Africa to study law and led nationwide campaigns for farmers and labourers and also fought against caste  of athall age groups discrimination and was vocal about expanding women’s rights. 

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Unemployment

 By: Astha Raghav. 

Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed).

Unemployment can have many sources, such as the following:

  • new technologies and inventions
  • the status of the economy, which can be influenced by a recession
  • competition caused by globalization and international trade
  • policies of the government
  • regulation and market

Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can influence the availability and cost for money through its monetary policy.

In addition to theories of unemployment, a few categorisations of unemployment are used for more precisely modelling the effects of unemployment within the economic system. Some of the main types of unemployment include structural unemployment, frictional unemployment, cyclical unemployment, involuntary unemployment and classical unemployment. Structural unemployment focuses on foundational problems in the economy and inefficiencies inherent in labor markets, including a mismatch between the supply and demand of laborers with necessary skill sets. Structural arguments emphasize causes and solutions related to disruptive technologies and globalization. Discussions of frictional unemployment focus on voluntary decisions to work based on individuals’ valuation of their own work and how that compares to current wage rates added to the time and effort required to find a job. Causes and solutions for frictional unemployment often address job entry threshold and wage rates.

According to the UN’s International Labour Organization (ILO), there were 172 million people worldwide (or 5% of the reported global workforce) without work in 2018.

Because of the difficulty in measuring the unemployment rate by, for example, using surveys (as in the United States) or through registered unemployed citizens (as in some European countries), statistical figures such as the employment-to-population ratio might be more suitable for evaluating the status of the workforce and the economy if they were based on people who are registered, for example, as taxpayers.

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International Business

By: Astha Raghav 


 It is defined as business transactions that takes place across national boarders.  This broad definition includes the very small firm that exports ( or imports) a small quantity to only one country, as well as the very large global firm with integrated operations and strategic alliances around the world. 

International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale.

It involves cross-border transactions of goods and services between two or more countries. Transactions of economic resources include capital, skills, and people for the purpose of the international production of physical goods and services such as finance, banking, insurance, and construction. International business is also known as globalization.

To conduct business overseas, multinational companies need to bridge separate national markets into one global marketplace. There are two macro-scale factors that underline the trend of greater globalization. The first consists of eliminating barriers to make cross-border trade easier (e.g. free flow of goods and services, and capital, referred to as “free trade”). The second is technological change, particularly developments in communication, information processing, and transportation technologies.

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CUSTOMS DUTY AND GST

Custom duty
is a type of indirect tax that is levied on the goods transported across the
borders of a nation. Tax levied on goods imported from foreign countries is
known as import duty and goods exported to the foreign countries is known as export
duty. The value of these duties depends on various factors. Duties levied based
on the value of the goods is known as velorem duties and duties levied
depending on the quantity of the goods is referred to as specific duties.

The main
objective of levying these taxes is to ensure the safety of a country’s
economy, environment, jobs and citizens by managing the transportation of goods
in and out of the country.

In India,
custom duties come under the Customs Act, 1962. According to this, the
government has a right to impose these taxes on both, the import as well as the
export of the goods. Any matters corresponding to these are looked after by the
Central Board of Excise and Custom (CBEC) which is a part of the Department of Revenue
of the Ministry of Finance.

The
government charges the exporter with export duty to send the goods across the
national borders and when any goods are received by a country from outside the
borders then the buyer or the customs broker must pay the pre-decided amount
first in order to retrieve the delivery.

How are
these customs duties imputed? Under the Customs Valuation Rules 2007, there are
various rules laid down to impute the value of these taxes.

Rule 3 and 4
– Comparative Value Method, comparison of transaction value of similar
goods.

Rule 7 – Deducting
Value Method, use of sale price of imported goods in the importing country.

Rule 8 – Computed
Value Method, combines the cost of materials, fabrications and profits in
the production country.

Rule 9 – Fallback
Method, based on the previous methods

On the 1st
of July 2017, the Goods and Services Tax (GST) was implemented which shook the
entire tax system. It is basically a tax that eliminates all the other indirect
taxes and makes the tax system much easier. There are 3 different categories of
GST – Central Goods and Services Tax (CGST), State Goods and Services Tax
(SGST) and Integrated Goods and Services Tax (IGST). The first two are for
intra-state transactions and the last one is for inter-state transactions.

The customs
duty which are included in GST are the Countervailing Duty (CVD) and Special
Additional Duty (SAD). The Basics Customs Duty (BCD) is still regulated as it is. When any goods are imported in India, IGST is imposed on
them along with BCD. Before IGST, there were several other taxes such as anti-dumping duty, safeguard duty, central excise duty and
service charges which made the whole tax system a lot more complicated whereas
now, only one integrated tax is chargeable.

The introduction of GST made the whole international
logistics process easier and less complicated. Although, this policy adopted by
the government was criticized by many for various factors but all in all, it
has reduced the possibility of loopholes in the taxation system and has made it
more transparent.

 

 

Diabetes

 

By: Astha Raghav. 

diabetes, is a metabolic disease that causes high blood sugar. The hormone insulin moves sugar from the blood into your cells to be stored or used for energy. With diabetes, your body either doesn’t make enough insulin or can’t effectively use the insulin it does make.

Untreated high blood sugar from diabetes can damage your nerves, eyes, kidneys, and other organs.

There are a few different types of diabetes:

  • Type 1 diabetes is an autoimmune disease. The immune system attacks and destroys cells in the pancreas, where insulin is made. It’s unclear what causes this attack. About 10 percent of people with diabetes have this type.
  • Type 2 diabetes occurs when your body becomes resistant to insulin, and sugar builds up in your blood.
  • Prediabetes occurs when your blood sugar is higher than normal, but it’s not high enough for a diagnosis of type 2 diabetes.
  • Gestational diabetes is high blood sugar during pregnancy. Insulin-blocking hormones produced by the placenta cause this type of diabetes.

A rare condition called diabetes insipidus is not related to diabetes mellitus, although it has a similar name. It’s a different condition in which your kidneys remove too much fluid from your body.

Each type of diabetes has unique symptoms, causes, and treatments. 

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Hockey

 

By: Astha Raghav 

Hockey is a sport in which two teams play against each other by trying to manoeuvre a ball or a puck into the opponent’s goal using a hockey stick. There are many types of hockey such as bandy, field hockey, ice hockey and rink hockey.

In most of the world, the term hockey by itself refers to field hockey, while in Canada, the United States, Russia and most of Eastern and Northern Europe, the term usually refers to ice hockey.

The first recorded use of the word hockey is in the 1773 book Juvenile Sports and Pastimes, to Which Are Prefixed, Memoirs of the Author: Including a New Mode of Infant Education by Richard Johnson (Pseud. Master Michel Angelo), whose chapter XI was titled “New Improvements on the Game of Hockey”.The belief that hockey was mentioned in a 1363 proclamation by King Edward III of England is based on modern translations of the proclamation, which was originally in Latin and explicitly forbade the games “Pilam Manualem, Pedivam, & Bacularem: & ad Canibucam & Gallorum Pugnam”.The English historian and biographer John Strype did not use the word “hockey” when he translated the proclamation in 1720, instead translating “Canibucam” as “Cambuck”; this may have referred to either an early form of hockey or a game more similar to golf or croquet.

The word hockey itself is of unknown origin. One supposition is that it is a derivative of hoquet, a Middle French word for a shepherd’s stave.The curved, or “hooked” ends of the sticks used for hockey would indeed have resembled these staves. Another supposition derives from the known use of cork bungs (stoppers), in place of wooden balls to play the game. The stoppers came from 

Games played with curved sticks and a ball can be found in the histories of many cultures. In Egypt, 4000-year-old carvings feature teams with sticks and a projectile, hurling dates to before 1272 BC in Ireland, and there is a depiction from approximately 600 BC in Ancient Greece, because it was played with a horn or horn-like stick . In Inner Mongolia, the Daur people have been playing beikou, a game similar to modern field hockey, for about 1,000 years.

Most evidence of hockey-like games during the Middle Ages is found in legislation concerning sports and games. The Galway Statute enacted in Ireland in 1527 banned certain types of ball games, including games using “hooked” (written “hockie”, similar to “hooky”) sticks.

By the 19th century, the various forms and divisions of historic games began to differentiate and coalesce into the individual sports defined today. Organizations dedicated to the codification of rules and regulations began to form, and national and international bodies sprang up to manage domestic and international competition.

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6 ways to create positive brand image online

 

By: Astha Raghav 

The ultimate guide to creating a positive brand image for online reputation management.

1. Own Your own website : Your first goal for creating a positive online image is having a website. Chances are you already have one for your business like your business. com. If you have a website you control at #1 in search results, it will get the most amount of clicks and prevent most people most people from continuing to look through the rest of the search results.

2.Own Related domains: If you want to take it to the next level, build up some other domains for your business or yourself.  

3.Start Multiple Blogs: Your main personal or company blog does not have to be your only blog. Thanks to Google + authorship and Google Direct Connect, you can tell Google a blog on any topic is related to you.

4.Be active on social media: Notice that I did not say create a whole lot of random social profiles that you may never touch again.

5. Create online “business cards”: Several websites allow you to create a personalized page that displays a short bio about you plus links to your website, blog and social networks. 

6. Claim your local profiles: If you have a local business, be sure to claim your local profiles and local directory listingsor create them if they don’t exist on sites like Yelp, Merchant Circle, Yahoo local and similar sites.

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TOP 10 MOST EXPENSIVE STOCK IN THE WORLD

 Stock
collectively refers to all of the shares amongst which the ownership of a
company is divided. If you are interested in a risky investment that may get
you a lot of profit, then you should definitely try out investing in stock
market. Here is a list of the top 10 companies with the most expensive share
prices in the world.


1. BIRKSHIRE
HATHAWAY


With stock
price at $316,248.31 which makes it Rs. 2,20,62,114.60
in Indian currency, and registered in New York Stock Exchange, it
is an American MNC with its headquarters in Omaha, Nebraska, United States of
America. Formerly known as Valley Falls Company (1839-1929) and Berkshire Fine
Spinning Associates (1839-1955), it was founded in 1839 by Oliver Chase with
Warren E. Buffett as its current chairman and CEO.



2. LINDT

Full
name being Chocoladefabriken Lindt and Sprungli AG, its stock price is 78,500
CHF making it Rs.53,63,063.90 in Indian currency. It is a
swiss chocolate and confectionary company which deals with its share in the SIX
Swiss Exchange market. It is widely known for its chocolate truffles,
chocolate bars and other sweets. Founded in 1845 by David
Sprüngli-Schwarz and Rudolf Lindt, its headquarters is in Kilchberg,
Switzerland.



3. NEXT PLC

A British MNC which deals in clothing,
footwear and home products. Its stock price is 5,844 GBP (Rs.5,27,403.47)
and it is listed on the London Stock Exchange (LSE). It has over
700 stores worldwide out of which 500 are based in United Kingdom and the other
200 are widely spread across Asia, Europe and Middle East. It is one of the
largest clothing retailers in the UK which overtook Marks & Spencer in the
early 2012. It was founded in 1864 by Joseph Hepworth and has its headquarters
in Enderby, England.



4. SEABOARD
CORPORATION

It is an American MNC which deals in
several operations. The stock price is $4,699.00 (Rs. 3,28,272.14) and is also listed under the New York
Stock Exchange. In USA, its main operation is the production of pork
and ocean transportation. Worldwide, it engages in activities like grain
processing, sugar production and electrical power generation. Founded by Otto
Bresky in 1918, it is headquartered in Merriam, Kansas, USA.



5. NVR INC.

Stock price being $3,215 (Rs. 2,24,567.75) and
also listed under the New York Stock Exchange, it is an American
construction and mortgage company which runs under the name of Rymarc Homes,
Ryan Homes, NV Homes, and Heartland Homes. Founded 1940 by Dwight Schar, it was
originally named as Ryan Homes which later on, in 1980, changed to NVR Incorporated.
Reston, Virginia, USA is where the headquarters belong.



6. AMAZON INC.

 

An American MNC that focuses on
E-Commerce, digital streaming and artificial intelligence, it is one of the top
5 companies in the USA under the Information Technology industry along with
Apple, Microsoft, Facebook and Google. Its stock is priced at $1,923.77 (Rs. 1,34,426.31) and is
registered in the New York Stock Exchange. Founded by Jeff Bezos
in 1994, it was originally known as Cadabra Inc. which changed in 1995. It has
its headquarters in Seattle, Washington, USA.



7. BOOKING HOLDINGS INC.

Formerly known as Priceline.com Incorporated
(1998–2014) and The Priceline Group Inc. (2014–2018), its stock price is $1,887.73 (Rs. 1,31,739.96) and it is listed under National
Association of Securities Dealer Automated Quotations (NASDAQ) stock
exchange. This company is a part of the travel and technology industry and was founded
in 1996 by Jay S. Walker. The headquarters are based in Norwalk, Connecticut,
USA. Its current president and CEO is Glenn D. Fogel.



8. ALPHABET INC.

Stock price at $1,270.59 (Rs. 88,746.26) and
registered under National Association of Securities Dealer Automated
Quotations (NASDAQ) stock exchange, it is as American MNC which was
founded through the restructuring of Google. It became the parent company of
Google and several other subsidiaries. It was founded by the founders of Google
itself, Larry Page and Sergey Brin on 2nd October 2015 and has the
headquarters in Mountain View, California, USA.



9. MARKEL CORPORATION (MKL)

MKL is a worldwide company of various operations like
insurance, reinsurance and investment. Their stock price is $1,027.19
(Rs. 71,741.52) under the New York Stock Exchange.
It runs under the insurance industry. Found in 1930 by Samuel A. Markel, its
headquarters is in Richmond, Virginia, USA.



10. MRF LTD.

Madras Rubber Factory is an Indian MNC which runs
under the tyres and rubber industry. The stock price is Rs.55,918.35
and is listed under the National Stock Exchange (NSE). It is the
most expensive stock in the Indian Stock Exchange. It is the largest
manufacturer of tyres in India and the sixth largest in the world.
Headquartered in Chennai, Tamil Nadu, it was founded in 1946 by K.M. Mammen
Mappillai.

 

Yoga

 By: Astha Raghav 

Yoga is a group of physical, mental, and spiritual practices or disciplines that originated in ancient India, aimed at controlling (‘yoking’) and stilling the mind, and recognizing the detached ‘witness-consciousness’ as untouched by the activities of the mind (Citta) and mundane suffering (Duḥkha). There are a broad variety of the schools of yoga, practices, and goals in Hinduism, Buddhism, and Jainism, and traditional forms and modern methods of yoga are practiced worldwide.

There are broadly two kinds of theories on the origins of yoga. The linear model argues that yoga has Aryan origins, as reflected in the Vedic textual corpus, and influenced Buddhism; according to Crangle, this model is mainly supported by Hindu scholars. The synthesis model argues that yoga is a synthesis of indigenous, non-Aryan practices with Aryan elements; this model is favoured in western scholarship.

Yoga is first mentioned in the Rigveda and also referenced in many Upanishads. The first known formal appearance of the word “yoga”, with the same meaning as the modern term, is in the Katha Upanishad, probably composed between the fifth and third century BCE. Yoga continued to develop as a systematic study and practice during the 5th and 6th centuries BCE, in ancient India’s ascetic, and Śramaṇa movements. The most comprehensive text on Yoga, Yoga Sutras of Patanjali date to the early centuries CE, while Yoga philosophy came to be marked as one of the six orthodox philosophical schools of Hinduism in the second half of the first millennium. Hatha yoga texts began to emerge between the 9th and 11th century with origins in tantra.

The term “yoga” in the Western world often denotes a modern form of hatha yoga and a posture-based physical fitness, stress-relief and relaxation technique, consisting largely of the asanas,in contrast with traditional yoga, which focuses on meditation and release from worldly attachments. It was introduced by gurus from India, following the success of Vivekananda’s adaptation of yoga without asanas in the late 19th and early 20th centuries, who introduced the Yoga Sutras to the west. The Yoga Sutras gained prominence in the 20th century following the success of hatha yoga.

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