Farm Loan Waiver

Before diving to the details about loan waiver let’s all get an idea about what actually is loan waiver.

Farm loan waiver: To assist the farmers who are in distress, the Government came up with the process called Loan waiver. In accordance with this, the government will pay defaulted loans taken by the farmers. There is a timeline vis-a-vis when this process took it’s birth but acknowledging those details are meant to eat your time. But dont worry I will fill you about the details in gist/crisp manner.

2016-18: States too have followed the footsteps of Union Government and adopted loan waiver. Ex. Madhyapradesh, Jammu and Kashmir, Tamilnadu, Telangana, Andhrapradesh etc.

Budget -2008: Agriculture Debt Waiver and Debt Relief Scheme (ADWDRS) promised to pay loans taken by the small&marginal farmers and other farmers offering waiving percentage 100% and 25% respectively.

2017- Considering the problems faced by farmers during demonetization, the Budget (17) announced 60 days of interest waivers to farmers.

Arguments in favor:

=>Few people opine that the situation of farmers since a decade(2008-18) have became worse with post-subpime crisis (2008), global financial crisis (2008) ,droughts (2017, 18), and demonetization (2016). These have raised issues like dropping down prices and demand for the products example being textile industry in international market and are forced to sell them in domestic market at cheaper rates

=>In addition to this, the government have came up with the plans of restructuring for loans by corporate borrowers which reinforced support-farmer people to demand for same as debt waiver.

=>Violent agrarian agitations in Maharashtra, Uttarpradesh and Madhyapradesh also made it visible the pathetic plight of the farmers.

=>Farmers are being more prone to Debt Overhang (where all the income earned so far was used to repay accumulated debts) and are forced to use savings/income in buying farm inputs(seeds, fertilizers, pesticides)

Challenges associated with loan waiver:

” Loan waivers undermine credit culture. NPA problem will get aggravated ” __ ex-RBI Governor Urjit Patel

“Farm loan waiver should not form part of election poll promises”__ Former RBI Governor Raghuram Rajan

These are only individual opinions but serious measures are yet to be taken and implemented.

=>Impact on behavior: Loan waiver reduces the hard working capacity and chances for developing negligent behavior/lack of discipline in farmers are more likely.

=>Partial Coverage: Out of 100% loans borrowed by farmers only 60% are from formal sector(banks,NBFCs) and rest of the borrowings are from informal sector (Marwadi, Shroff). So even though government announced loan waiver significant percentage of farmers deprived of benefit.

=>Feedback: Comptroller and Audit General (CAG) commented on ADWDRS which implemented in 2008 ,as it is prone to serious exclusion and inclusive errors. Also Economic Survey-2017 pointed out that loan waivers haven’t contributed neither in accentuating GDP contribution nor in development of farmers.

=>Multiplier Effect: WHO recommended 5% of GDP to health sector whereas the actual allocation was less than 2%.The amount allotted for waiving tantamount to 1.5% of GDP. So it would be justifiable for the government to invest money in the schemes which promotes welfare for majority of populace than in the schemes which have serious implications on other developmental expenditure.

=>Fiscal Deficit: It would be burdensome on state governments implementing the waiver process and there are also chances that a particular state would end up in inflation too. Ex: Report in 2017 by RBI quoted that ₹88000 crores used as loan waiver by 7 States ( Uttarpradesh. Maharashtra etc) notified as a states with inflation.

=>No recognition: Loan waiver focussed mainly on cultivators and the truth that agricultural workers are also being impacted was neglected.

Farmers distress is a real and pressing problem.But the government intervention has hurt more than it has helped.Loan waiver is not a magic wand that could solve the long-standing problems, it could only be used as a temporary relief (like a bandage to serious wound).There are certain issues to be considered in this regard to get ushered in right direction. Like proper identification of vulnerable farmers, enhancing non-farm works, improving technology , expansion of irrigation cover ,focussing on long-term solutions etc.

Hope you have enjoyed the article. Happy reading!

COUNTRIES WITH THE MOST SUCCESSFUL STARTUPS.

United States

The US boasts the world’s largest GDP (around $20 trillion), low unemployment rates, and top-ranked entrepreneurial infrastructures. With that in mind, the US market is extremely diverse, offering adequate buying power, and government support for local venture funding has been at an all-time high. The American culture has globally influenced many nations and has become the top spot for new startups in 2020.

United Kingdom

Brexit might have scared off some investors, but the UK holds a reliable and extremely well-governed economy. Local authorities have improved taxation policies, seeing a rise in investor profiles, business incorporations, and currently stands at a 0.7% inflation rate as of 2019. Entrepreneurial infrastructure falls close behind the US, and being the country with the lowest corporation tax from all G20 countries, the UK is a great choice to consider.

Germany

As Europe’s biggest economic powerhouse, Germany holds a great and extremely well-educated workforce. The nation has been one of the most attractive startup destinations for years, offering business owners and entrepreneurs an opportunity to use the well-funded European markets. As a key member of the EU, Germany sits on a $3.6 trillion GDP as of 2017.

Singapore

The Eastern Hemisphere has become a popular choice for prominent business investors and, recently, startups. A wealthy nation with high levels of education and political stability, Singapore offers easier market access and free trade agreements. It’s a melting pot of cultures, and their local economy has seen a 2% growth each year.

New Zealand

A different choice from Europe or North America, the island nation has seen a booming economic influx, with more skilled workers, affordable wages, and simple startup procedures. The country has a 0.6% inflation rate, a 3.6% GDP growth, low-interest rates, and local government has become more business-friendly, with easier access to local statistics.

Illitracy in India

Illiteracy in India is a massive problem in India especially when it comes to facing crisis like the Covid 19 . This crisis has nearly disturbed the lives of a majority of the world population . A group of seen applying cow dung on their body and when they were asked they told the news reporter that cow dung will help them face the crisis . And what happened the next day  is not very happening as one of them died due to Covid 19 . So education plays an important role in facing such crisis . But the problem is levels of education can not be increased over night . Science play an important role in this case .

SOLAR IS THE FUTURRE.

Topaz solar farm and Desert sunlight farm, US

The Topaz solar farm is located in the north-western part of the Carrisa Plains in San Luis Obispo County, California, US. The 550MW plant was developed by First Solar and later acquired by BHE Renewables in January 2012. Commissioned in 2014, the project covers an area of 4,700 acres and is equipped with more than eight million solar modules. Topaz supplies electricity to approximately 180,000 households in California.

The Desert Sunlight solar farm is located in the Mojave Desert in the Riverside County, California, US. Developed by First Solar, the facility is owned jointly by NextEra Energy Resources, GE Energy Financial Services, and Sumitomo Corporation of America. Commissioned in 2013, the power plant is equipped with eight million panels that generate power enough for 160,000 homes.

Solar Star Projects, US

Solar Star Projects comprises two co-located projects, Solar Star 1 and Solar Star 2, in the Kern and Los Angeles counties, Rosamond, California, US. The two projects have a combined capacity of 579MW and comprise more than 1.7 million solar modules installed on 3,200 acres of land. They were developed by SunPower Corporation and owned by BHE Renewables.

Completed in March 2015, the projects supply electricity to more than 255,000 homes. They are equipped with the SunPower® Oasis® Power Plant technology, which positions the panels to track the sun during the day and increases energy capture by up to 25%.

Kamuthi Solar Power Station, India

The Kamuthi solar facility in Tamil Nadu, India, has a total generation capacity of 648MW. Covering 2,500 acres (10km²) and consisting of 2.5 million solar panels, the site is estimated to supply enough power for 750,000 people.

Enel Villanueva PV Plant, Mexico

Located in the Mexican state of Coahuila, the photovoltaic (PV) facility comprises more than 2.5 million solar panels installed across 2,400ha in the Mexican semi-arid region. The 828MW power plant became fully-operational in September 2018 and has the capacity to produce more than 2,000GWh a year.

The Enel Group invested approximately $710m in the construction of Villanueva. The plant’s initial capacity was 754MW, which was increased to 828MW following a 10% capacity extension option added to the energy sales contracts.

Enel deployed a unique pilot programme using digital technologies and automation for the plant’s construction. The programme included the use of GPS-controlled machines for moving the earth, drones for conducting 3D topography, and robots for automatic installation of panels.

Longyangxia Dam Solar Park, China

The Longyangxia solar park has a capacity of 850MW, sufficient to power 200,000 households. The site sits on the Tibetan Plateau in northwestern China’s Qinghai province and spans 27km². The plant is installed with approximately four million solar panels and is operated by State Power Investment Corporation, one of China’s top five power generators.

Phase one of the power plant was completed in 2013, while phase two was completed in 2015, with a total construction cost of approximately six billion yuan ($920.84m).

The project was developed by Huanghe Hydropower Development and is integrated with the 1,280MW Longyangxia hydroelectric power station.

CURRENCIES WHOSE WORTH IS MORE THAN DOLLAR.

5. British Pound: 1 GBP = 1.27 USD

Bank of England policymakers generally kept pace with developments in other countries over the last several decades and kept the pound more valuable than the U.S. dollar. The British pound  was traditionally worth more than the us dollar, but it declined during much of the 20th century. This decline reversed during the 1980s, and the British pound regained its old advantage over the U.S. dollar.

4. Jordanian Dinar: 1 JOD = 1.41 USD

Like the Cayman Islands Dollar, the Jordanian Dinar was pegged to the U.S. dollar at a higher value. The idea was that a stable exchange would help to attract U.S. investment in Jordan. It is crucial to remember that any country can peg its currency to the dollar at any value. However, the currency must keep its value relative to the U.S. dollar to maintain that peg. Jordan successfully did that during the first two decades of the 21st century.

3. Omani Rial: 1 OMR = 2.60 USD

Oman is yet another country that pegged its currency to the U.S. dollar at a fixed exchange rate. The Omani rial  maintained its value against the dollar due to Oman’s historically tight monetary policy and financial restrictions. Omani policymakers have generally restricted the money supply to protect the country against war and conflict in the Middle East. That has impacted the country’s inflation rate, and lending practices in Oman tend to favor risk-averse companies and business ventures.

2. Bahraini Dinar: 1 BHD = 2.66 USD

The Bahraini dinar  was pegged to the U.S. dollar at a slightly higher value than the Omani rial. The Bahraini dinar’s yearly average has remained close to its current exchange rate since 2011, despite the significant effect that low oil prices had on Bahrain’s economy. Bahrain’s inflation rate was also modest and relatively stable.

1. Kuwaiti Dinar: 1 KWD = 3.26 USD

The Kuwaiti dinar was the most valuable government-backed currency as of 2020. Some currencies not backed by governments, such as gold and bitcoin, were actually worth far more. Substantial oil production helped augment Kuwait’s wealth and support the value of the Kuwaiti dinar. Over the years, Kuwait amassed a significant soverign wealth fund. The kuwait investment authority manages this fund and helps to ensure that Kuwait remains prosperous.

WHAT IS WOMEN EMPOWERMENT.

What Does Women Empowerment Mean?

Women Empowerment is the process that creates power in women to live a happy and respectable life in a society. Women are empowered when they are able to access opportunities in a variety of fields such as in education, profession, lifestyle, etc., without any limitations and restrictions. It includes raising their status through education, awareness, literacy and training. It also includes the authority to take decisions. When a woman makes a crucial decision, she feels empowered.

Women’s empowerment is the most crucial point for the overall development of a country. Suppose, in a family, there is one earning person, while in another family, both men and women are earning, then who will have a better lifestyle. The answer is simple, the family where both men and women are earning money. Thus, the country where men and women work together develops at a faster rate.

Need for Women Empowerment

History says that women were ill-treated. The Sati Pratha in the ancient times to the girl child abortion in the present scenario, women continue facing such violence. Not only this, heinous crimes against women such as rape, acid attack, dowry system, honour killing, domestic violence, etc., are still happening in India.

Out of the total population, 50% of the population should consist of women. However, due to female foeticide practices, girl child numbers are decreasing sharply in India. It has also impacted the sex ratio in India. The literacy rate in girls is very low. Most of the girls are not even provided with primary education. Moreover, they are married early and made to raise children and shoulder only household work. They are not allowed to go out and are dominated by their husbands. Women are taken for granted by men as they are considered their property. Even at the workplace, women are discriminated against. They are paid less for the same work as compared to their male counterparts.

Steps to Empower Women

Women can be empowered in various ways. It can be done through government schemes as well as on an individual basis. At the individual level, we should start respecting women and start giving them opportunities equal to men. We should promote and encourage them to take up jobs, higher education, business activities, etc. The Government has come up with various schemes such as Beti Bachao Beti Padhao Yojana, Mahila-E-Haat, Mahila Shakti Kendra, Working Women Hostel, Sukanya Samriddhi Yojana, etc. to empower women. Apart from these schemes, we as individuals can also empower women by abolishing social evils like the dowry system, child marriage. These small steps will change the situation of women in society and make them feel empowered.

Starvation in North Korea

The north koreans are starving but they have no choice but to face such starvation . They cannot fight , shout or do anything . They are brutalized every second by the cruel emperor of North Korea . No one is allowed to raise his or her voice against the cruel emperor . They can only suffer under his regime . The problem with this country is that their are so many trade restrictions imposed on this country that no external trade happens in North Korea . Now since China is not allowing any trade with this country so it has resulted in starvation of the people of North Korea . Now they have no choice but to suffer indefinitely .

DIGITAL MARKETING – A BOOMING INDUSTRY

Understanding digital marketing

At present, the world is going digital and more and more companies across the world are having an online presence. Digital Marketing has truly made differences in the field of advertising and marketing. The traditional marketing strategies are no more used by companies as internet media is more reliable and optimum. The internet marketing is highly effective, financially feasible and more comprehensive. Digital marketing provides powerful techniques to generate business and efficiently boosts the present scale to zenith levels.

Ever increasing rise in internet usage

The Internet has totally changed the way in which people used to buy required things and even the way in which different businesses provide their products and services. With the reduction in the price of smartphones, there has been a rise in the internet usage. This has resulted in the development of online businesses. Right from the cell phones to personal computers, garments to shoes, books to gadgets, people are increasingly using the internet to buy different products and services.

Online business challenges are the strength of digital marketers

With the organizations busy running their business, they are not able to invest quality time to understand top, middle, and bottom objectives to engage the audience. Digital marketer comes to your rescue as it lowers the business costs considerably. They help the business survive and grow by targeting the right people at the right time. They also identify and prioritize the key performance indicators by auditing your customers’ behavior on various digital platforms. Digital marketers analyze the performance of your online business industry and help companies make informed data-driven decisions for optimal customer experience.

Sports

Sports are an integral part of ones life . It is rightly said that ” All work and no play makes Jack a dull boy “. These cannot be excluded from our lives . But during the Covid 19 pandemic we are not able to play outdoor games .  We all are scared to go outside our homes . So what we do is that during our free time we play online games like PUBG , Free fire , FIFA , Call Of Duty  etc . So that is what we can do before every thing becomes normal .

ARE E-BOOKS STILL TRENDING ?

Do you prefer reading an e-book or a physical version? It might be a surprise, but for most people, old school print on paper still wins.

Publishers of books in all formats made almost $26 billion in revenue last year in the U.S., with print making up $22.6 billion and e-books taking $2.04 billion, according to the Association of American Publishers’ annual report 2019. Those figures include trade and educational books, as well as fiction.

While digital media has disrupted other industries such as news publishing and the music business, people still love to own physical books, according to Meryl Halls, managing director of the Booksellers’ Association in the U.K.

“I think the e-book bubble has burst somewhat, sales are flattening off, I think the physical object is very appealing. Publishers are producing incredibly gorgeous books, so the cover designs are often gorgeous, they’re beautiful objects,” she told CNBC.

People love to display what they’ve read, she added. “The book lover loves to have a record of what they’ve read, and it’s about signaling to the rest of the world. It’s about decorating your home, it’s about collecting, I guess, because people are completists aren’t they, they want to have that to indicate about themselves.”

Genres that do well in print include nature, cookery and children’s books, while people prefer to read crime, romantic novels and thrillers via e-reader, according to Nielsen Book International.

It’s more than a decade since Amazon launched the Kindle, and for Halls, there is also a hunger for information and a desire to escape the screen. “It’s partly the political landscape, people are looking for escape, but they are also looking for information. So, they are coming to print for a whole, quite a complex mess of reasons and I think … it’s harder to have an emotional relationship with what you’re reading if it’s on an e-reader.”

GDP CREATES NEW RECORDS!

India’s Gross Domestic Product (GDP) contracted 7.3% in 2020-21, as per provisional National Income estimates released by the National Statistical Office on Monday, marginally better than the 8% contraction in the economy projected earlier. GDP growth in 2019-20, prior to the COVID-19 pandemic, was 4%.

 

The fourth quarter of 2020-21 recorded a growth of 1.6% in GDP, the second quarter of positive growth, after the country had entered a technical recession in the first half of the year. The Gross Value Added recorded 3.7% growth in Q4, compared to 1% in Q3. GVA had contracted 22.4% and 7.3% in the first and second quarters of 2020-21.

 

The GVA in India’s economy shrank 6.2% in 2020-21, compared to a 4.1% rise in the previous year. Only two sectors bucked the trend of negative GVA growth – Agriculture, Forestry and Fishing (which rose 3.6%) and Electricity, Gas, Water Supply and other Utility Services (up 1.9%).