Knowledge & Education – Manjushreesudheendra.com https://manjushreesudheendra.com Sun, 30 Jun 2024 13:52:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 10 things this World Cup teaches all of us: https://manjushreesudheendra.com/2024/06/30/10-things-this-world-cup-teaches-all-of-us/ https://manjushreesudheendra.com/2024/06/30/10-things-this-world-cup-teaches-all-of-us/#respond Sun, 30 Jun 2024 13:52:50 +0000 https://manjushreesudheendra.com/?p=872 “Learnings” – 10 things this World Cup teaches all of us:

  1. Class is permanent, even if it doesn’t work a few times.. Peaks at the right time – Virat Kohli
  2. ⁠When a leader leads from the front, and if fails once in a while – entire team comes together to cover up – Rohit Sharma
  3. ⁠It’s not over till you think it’s over – India team even after SA needed Run a ball
    30 of 30.
  4. ⁠You can bounce back from the lowest unimaginable lows (even if the entire world is against you) – Hardik Pandya
  5. ⁠Hardwork and Humility pays off – even if it hasn’t for decades – Rahul Dravid
  6. ⁠Consistency pays off eventually – Jasprit Bumrah
  7. ⁠There is a point in life which comes for most people from where getting up/getting back seems impossible.. sheer will and determination gets you back – Rishab Pant
  8. ⁠Losses at a big stage are possible as important is the comeback – India team after t50 World Cup to winning the t20 World Cup..
  9. ⁠Nothing is above team work, ultimately every single individuals contribution matters.
  10. ⁠At times the smallest contribution can be the biggest in the game (even of life) – Surya’s catch ?? INDIA TEAM (everyone contributed in their own way at some point in the tournament).
]]>
https://manjushreesudheendra.com/2024/06/30/10-things-this-world-cup-teaches-all-of-us/feed/ 0
The Bretton Woods System: Foundation and Legacy of the Post-War Global Economy https://manjushreesudheendra.com/2024/05/24/the-bretton-woods-system-foundation-and-legacy-of-the-post-war-global-economy/ https://manjushreesudheendra.com/2024/05/24/the-bretton-woods-system-foundation-and-legacy-of-the-post-war-global-economy/#respond Fri, 24 May 2024 05:52:07 +0000 https://manjushreesudheendra.com/?p=767 The Bretton Woods System: Foundation and Legacy of the Post-War Global Economy

The Bretton Woods System, established in 1944 during a conference held at Bretton Woods, New Hampshire, was a groundbreaking framework designed to ensure global economic stability and foster international trade after the devastation of World War II. Conceived primarily by the United States and the United Kingdom, this system laid the foundation for the modern financial order by instituting mechanisms to govern monetary relations among the world’s major economies.

Origins and Objectives

The conference at Bretton Woods brought together delegates from 44 Allied nations with the goal of creating a new international economic order. The primary architects, John Maynard Keynes of the UK and Harry Dexter White of the US, sought to construct a system that would prevent the kind of economic turmoil and competitive devaluations that characterized the interwar period. Their vision was to promote economic stability, full employment, and the growth of international trade by establishing a set of fixed exchange rates tied to the US dollar, which was in turn pegged to gold at $35 per ounce.

Key Institutions

Two major institutions emerged from the Bretton Woods Conference: the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), now part of the World Bank Group. The IMF was tasked with overseeing the international monetary system and providing financial assistance to countries facing balance-of-payments problems. This was intended to prevent the kind of economic instability that could lead to protectionism and currency devaluations. The IBRD, on the other hand, focused on providing long-term capital for post-war reconstruction and development projects, particularly in war-torn Europe.

Mechanics of the System

Under the Bretton Woods System, currencies were pegged to the US dollar within a narrow band, and the dollar was convertible to gold. Countries maintained their exchange rates by intervening in the foreign exchange market, buying or selling dollars to correct imbalances. This created a stable and predictable international trading environment, which facilitated economic growth and international cooperation.

However, countries were allowed to adjust their exchange rates if they experienced a “fundamental disequilibrium” in their balance of payments. This provision was essential to provide flexibility in the face of significant economic changes.,

Challenges and Collapse

Despite its initial success, the Bretton Woods System faced mounting challenges by the 1960s. The primary issue was the US dollar’s role as the world’s reserve currency. As global trade expanded, the demand for dollars increased, but the US balance of payments began to deteriorate, leading to questions about the dollar’s convertibility to gold. The US gold reserves dwindled, causing a loss of confidence in the dollar.

In 1971, President Richard Nixon suspended the dollar’s convertibility to gold, effectively ending the Bretton Woods System. This event, known as the “Nixon Shock,” led to the transition to a system of floating exchange rates that still prevails today.

Legacy

The Bretton Woods System, although ultimately short-lived, had a profound and lasting impact on the global economy. It established the IMF and the World Bank, which continue to play crucial roles in international finance and development. Moreover, it laid the groundwork for the liberalization of trade and the globalization of the world economy.

The principles of cooperation and multilateralism that underpinned the Bretton Woods System remain relevant, particularly in times of economic crisis. While the fixed exchange rate regime it created is no longer in place, the system’s emphasis on stability, cooperation, and economic development continues to influence international economic policies and institutions today.

]]>
https://manjushreesudheendra.com/2024/05/24/the-bretton-woods-system-foundation-and-legacy-of-the-post-war-global-economy/feed/ 0
Akshaya Tritiya: The Eternal Festival of Prosperity and Blessings https://manjushreesudheendra.com/2024/05/10/akshaya-tritiya-the-eternal-festival-of-prosperity-and-blessings/ https://manjushreesudheendra.com/2024/05/10/akshaya-tritiya-the-eternal-festival-of-prosperity-and-blessings/#respond Fri, 10 May 2024 04:52:13 +0000 https://manjushreesudheendra.com/?p=729 Akshaya Tritiya, also known as Akha Teej, is a significant Hindu festival celebrated across India. It falls on the third lunar day of the bright half of the Hindu month of Vaishakha (usually in April or May). This auspicious day holds immense significance in Hindu mythology, culture, and traditions. Let’s delve into its meaning, significance, and the associated stories.

Meaning of Akshaya Tritiya:

The term “Akshaya Tritiya” is derived from two Sanskrit words: “Akshaya” meaning “eternal” or “never diminishing” and “Tritiya” meaning “third lunar day.” Together, it signifies a day that brings eternal prosperity and success. It is believed that any activity started on this day will bring unending benefits and prosperity.

Significance of Akshaya Tritiya:

1. Religious Significance: Akshaya Tritiya holds great religious significance for Hindus. It is believed that Lord Parashurama, the sixth avatar of Lord Vishnu, was born on this day. Additionally, it marks the beginning of the Treta Yuga, one of the four ages in Hindu cosmology.

2. Astrological Significance: According to Hindu astrology, Akshaya Tritiya is considered one of the most auspicious days for beginning new ventures, investments, weddings, or any significant undertakings. It is believed that the planetary positions on this day are favorable for success and prosperity.

3. Cultural Significance: Akshaya Tritiya is also associated with various cultural practices across different regions of India. People buy gold, silver, jewelry, or new utensils on this day as it is believed that acquiring such items on Akshaya Tritiya ensures prosperity and wealth throughout the year.

4. Spiritual Significance: Many devotees observe fasts, perform pujas, and visit temples on Akshaya Tritiya to seek the blessings of the divine for a prosperous and fulfilling life. It is considered an auspicious day for spiritual practices and acts of charity.

Story Associated with Akshaya Tritiya:

There are several mythological stories associated with Akshaya Tritiya, each emphasizing the significance of this auspicious day. One of the prominent stories is the story of Lord Krishna and Sudama.

The Story of Lord Krishna and Sudama:

According to Hindu mythology, Lord Krishna and Sudama were childhood friends. Sudama, a poor Brahmin, once visited Lord Krishna’s palace to seek his help during a time of severe drought and famine. Despite their difference in social status, Lord Krishna welcomed Sudama with open arms and treated him with great affection.

Overwhelmed by Lord Krishna’s hospitality, Sudama was hesitant to ask for any favors. Instead, he offered his humble gift of beaten rice (poha) to Lord Krishna, which he had brought from his home. Lord Krishna, recognizing the pure intentions and love behind Sudama’s gift, accepted it with joy and gratitude.

Upon returning to his humble abode, Sudama was astonished to find his modest dwelling transformed into a grand palace filled with wealth and prosperity. Lord Krishna had blessed Sudama abundantly for his sincerity and devotion. This incident highlights the significance of selflessness, friendship, and the boundless blessings that one can receive on the auspicious occasion of Akshaya Tritiya.

In conclusion, Akshaya Tritiya is a sacred day celebrated with great enthusiasm and fervor by Hindus across the world. Its significance lies in its association with prosperity, success, and the eternal blessings of the divine. Through various rituals, traditions, and stories like that of Lord Krishna and Sudama, Akshaya Tritiya continues to inspire faith, generosity, and spiritual growth among devotees.

]]>
https://manjushreesudheendra.com/2024/05/10/akshaya-tritiya-the-eternal-festival-of-prosperity-and-blessings/feed/ 0
The Urgency of Climate Action: What Every Individual Can Do https://manjushreesudheendra.com/2024/04/24/the-urgency-of-climate-action-what-every-individual-can-do/ https://manjushreesudheendra.com/2024/04/24/the-urgency-of-climate-action-what-every-individual-can-do/#respond Wed, 24 Apr 2024 05:06:00 +0000 https://manjushreesudheendra.com/?p=701 The Urgency of Climate Action: What Every Individual Can Do

The urgency of climate action cannot be overstated. With each passing day, the consequences of climate change become more apparent and more devastating. From extreme weather events to rising sea levels, the impacts are being felt around the globe. It’s clear that immediate and concerted action is needed to mitigate these effects and protect the planet for future generations.

While governments and businesses play a crucial role in addressing climate change, individuals also have a significant impact. Every person has the power to make choices and take actions that reduce their carbon footprint and contribute to a more sustainable future. Here are some steps that every individual can take to help combat climate change:

✅ Reduce energy consumption: One of the most effective ways to reduce carbon emissions is to use less energy. This can be achieved by turning off lights and appliances when they’re not in use, using energy-efficient appliances, and insulating homes to reduce heating and cooling needs.

✅ Transition to renewable energy: Switching to renewable energy sources like solar or wind power can significantly reduce carbon emissions associated with electricity consumption. Many utilities now offer renewable energy options for homeowners, making it easier than ever to make the switch.

✅ Drive less, drive smart: Transportation is a major source of carbon emissions, so reducing the number of miles driven can have a big impact. Carpooling, taking public transportation, biking, and walking are all great alternatives to driving solo. When a car is necessary, choosing a fuel-efficient or electric vehicle can further reduce emissions.

✅ Reduce, reuse, recycle: The mantra of “reduce, reuse, recycle” is more relevant than ever in the fight against climate change. By minimizing waste and recycling materials whenever possible, individuals can help conserve resources and reduce the energy required for manufacturing new products.

✅ Support sustainable practices: When making purchasing decisions, opt for products and companies that prioritize sustainability. 

✅ Get involved in advocacy and activism: Climate change is a complex issue that requires systemic change at all levels of society. By getting involved in advocacy efforts and supporting policies that promote renewable energy, conservation, and emissions reductions, individuals can help drive meaningful change.

✅ Educate others: Spread awareness about the urgency of climate action and the steps that individuals can take to make a difference. 

By taking these actions, individuals can play a vital role in addressing the urgent challenge of climate change. While the scale of the problem may seem daunting, every small step towards sustainability adds up to make a  difference. Together, we can create a more resilient and sustainable future for all.

]]>
https://manjushreesudheendra.com/2024/04/24/the-urgency-of-climate-action-what-every-individual-can-do/feed/ 0
Pudina: A Refreshing Herb with Culinary and Medicinal Benefits https://manjushreesudheendra.com/2024/04/23/pudina-a-refreshing-herb-with-culinary-and-medicinal-benefits/ https://manjushreesudheendra.com/2024/04/23/pudina-a-refreshing-herb-with-culinary-and-medicinal-benefits/#respond Tue, 23 Apr 2024 14:10:45 +0000 https://manjushreesudheendra.com/?p=699 Pudina: A Refreshing Herb with Culinary and Medicinal Benefits

Pudina, commonly known as mint, is much more than a mere garnish or flavor enhancer in culinary pursuits. This versatile herb, with its refreshing aroma and distinctive flavor, holds a significant place in both the culinary and medicinal worlds. From adding a zing to dishes to offering a plethora of health benefits, pudina is truly a gem in the world of herbs.

In culinary applications, pudina is celebrated for its ability to uplift dishes with its invigorating flavor profile. Its fresh, minty taste adds a delightful twist to a variety of dishes, ranging from salads to curries and beverages to desserts. The vibrant green leaves of pudina are often used as a garnish, not only for their aesthetic appeal but also for their burst of flavor. Additionally, pudina leaves can be finely chopped or crushed and incorporated into sauces, chutneys, marinades, and dressings to infuse dishes with their distinctive essence.

Moreover, pudina is a popular choice for beverages, particularly in the form of mint tea or mint-infused water. The infusion of mint leaves imparts a refreshing taste and a soothing aroma, making it a perfect choice for a revitalizing drink. Pudina is also a key ingredient in various cocktails and mocktails, adding a touch of freshness and complexity to the concoctions.

Beyond its culinary applications, pudina has been revered for its medicinal properties for centuries. One of the most well-known benefits of pudina is its ability to aid digestion. The menthol present in mint helps to soothe the digestive tract, alleviate indigestion, and reduce symptoms of irritable bowel syndrome (IBS). Consuming pudina tea or incorporating fresh mint leaves into meals can help promote healthy digestion and relieve gastrointestinal discomfort.

Furthermore, pudina is valued for its ability to alleviate nausea and motion sickness. Whether consumed as a tea, inhaled as essential oil, or applied topically, the aroma of mint has a calming effect on the stomach, making it an effective remedy for nausea and vomiting.

Additionally, pudina is believed to have anti-inflammatory and antimicrobial properties, which contribute to its medicinal prowess. The menthol and menthone compounds found in mint have been shown to possess anti-inflammatory properties, making pudina an effective remedy for respiratory conditions such as asthma and the common cold. Moreover, the antimicrobial properties of mint help to combat oral bacteria, promoting oral hygiene and fresh breath.

In conclusion, pudina stands as a refreshing herb with a myriad of culinary and medicinal benefits. Its distinct flavor and aroma make it a prized ingredient in cuisines around the world, while its therapeutic properties contribute to its esteemed status in traditional medicine systems.

]]>
https://manjushreesudheendra.com/2024/04/23/pudina-a-refreshing-herb-with-culinary-and-medicinal-benefits/feed/ 0
Supply and Demand Dynamics: Unraveling Market Forces https://manjushreesudheendra.com/2024/04/18/supply-and-demand-dynamics-unraveling-market-forces/ https://manjushreesudheendra.com/2024/04/18/supply-and-demand-dynamics-unraveling-market-forces/#respond Thu, 18 Apr 2024 07:58:04 +0000 https://manjushreesudheendra.com/?p=684 Supply and Demand Dynamics: Unraveling Market Forces

Supply and demand dynamics are the cornerstone of modern economics, shaping markets and influencing prices across industries. Understanding these forces is essential for businesses, consumers, and policymakers alike as they navigate the complexities of market behavior and allocation of resources.

At its core, the law of supply and demand describes the relationship between the availability of a good or service (supply) and the desire of consumers to purchase it (demand). When supply exceeds demand, prices tend to fall as producers compete for customers. Conversely, when demand exceeds supply, prices rise as consumers compete for limited goods or services.

One of the fundamental principles of supply and demand is that as prices rise, the quantity supplied by producers increases, while the quantity demanded by consumers decreases. This inverse relationship between price and quantity is depicted graphically by the supply and demand curves, which intersect at the equilibrium point, where the quantity supplied equals the quantity demanded, and the market clears.

Changes in supply or demand can shift these curves, leading to changes in equilibrium price and quantity. For example, an increase in consumer income might lead to higher demand for luxury goods, shifting the demand curve to the right and increasing prices. Similarly, improvements in technology or changes in input costs could increase supply, driving prices down.

One of the factors influencing supply and demand dynamics is elasticity, which measures how responsive quantity demanded or supplied is to changes in price. Goods with elastic demand or supply are highly responsive to price changes, while those with inelastic demand or supply are less so. Understanding elasticity is crucial for businesses when setting prices and making production decisions.

External factors, such as government policies, natural disasters, or geopolitical events, can also impact supply and demand dynamics. For example, trade tariffs or quotas can restrict imports, reducing supply and driving prices up. Similarly, changes in consumer preferences or technological advancements can shift demand for certain goods or services, affecting market equilibrium.

Supply and demand dynamics play out in various markets, from agricultural commodities to financial assets. In agricultural markets, factors such as weather conditions, crop yields, and government subsidies can influence supply, while changes in population demographics or dietary trends can impact demand. In financial markets, factors like interest rates, inflation, and investor sentiment can drive supply and demand for assets like stocks and bonds.

Understanding supply and demand dynamics is crucial for policymakers seeking to achieve economic stability and growth. Monetary and fiscal policies can influence aggregate demand through changes in interest rates, government spending, and taxation. Similarly, regulations affecting production, trade, or competition can impact supply in various industries.

In conclusion, supply and demand dynamics are fundamental concepts in economics that govern market behavior and prices. The interaction between supply and demand determines equilibrium price and quantity in markets, with changes in either factor leading to adjustments over time. Elasticity, external factors, and government policies all play roles in shaping supply and demand dynamics across industries, highlighting the complexity of market forces and the importance of understanding them for businesses, consumers, and policymakers alike.

]]>
https://manjushreesudheendra.com/2024/04/18/supply-and-demand-dynamics-unraveling-market-forces/feed/ 0
India Ratings pegs FY25 GDP growth at 6.5%, says signs ‘bullish’ for private capex. https://manjushreesudheendra.com/2024/02/26/india-ratings-pegs-fy25-gdp-growth-at-6-5-says-signs-bullish-for-private-capex/ https://manjushreesudheendra.com/2024/02/26/india-ratings-pegs-fy25-gdp-growth-at-6-5-says-signs-bullish-for-private-capex/#respond Mon, 26 Feb 2024 14:12:57 +0000 https://manjushreesudheendra.com/?p=614 India Ratings pegs FY25 GDP growth at 6.5%, says signs ‘bullish’ for private capex.

India’s GDP is expected to grow by 6.5 percent in 2024-25, according to India Ratings and Research. While this would represent a decline from the statistics ministry’s first advance estimate of 7.3 percent for the current financial year, the prospect of the private investment cycle bodes well for the economy.

Private corporate sector investment has been down and out for nearly a decade,” said Sunil Kumar Sinha, principal economist at India Ratings, on February 22.

But when we look at lead indicators, all of them are indicating that at the current juncture the private corporate sector is once again becoming more bullish about investments. It may or may not be happening on the ground in the way we would like it to, but some flavour of that has already started becoming clearer at least in terms of intentions and the way they (corporates) are now approaching banks to finance their projects,” Sinha added.

According to India Ratings, Rs 3.53 lakh crore was raised in 2022-23 to finance a total of 982 large projects – those of over Rs 1,000 crore. This is significantly higher than the Rs 1.98 lakh crore raised to finance 791 such projects in 2021-22.

With demand picking up, capacity utilisation in the private sector should start rising from the current aggregate level of 75 percent.

In terms of inflation, India Ratings’ forecast is broadly in line with that of the Reserve Bank of India, with Consumer Price Index (CPI) inflation seen at 5.0 percent in the first quarter of 2024-25 before easing to 4.1 percent in July-September.

]]>
https://manjushreesudheendra.com/2024/02/26/india-ratings-pegs-fy25-gdp-growth-at-6-5-says-signs-bullish-for-private-capex/feed/ 0
Budget 2024 Expectations https://manjushreesudheendra.com/2024/01/31/budget-2024-expectations/ https://manjushreesudheendra.com/2024/01/31/budget-2024-expectations/#respond Wed, 31 Jan 2024 04:19:38 +0000 https://manjushreesudheendra.com/?p=503 Highlights: The Union budget holds a significant position in the financial calendar, sparking increased anticipation regarding the government’s expenditures, fiscal deficit, and personal taxation.

Street expects FY25 nominal GDP growth at 10%-11.5%. Market participants are eagerly awaiting the nominal GDP growth estimate for 2024-25.
India’s nominal GDP is seen growing by 8.9 percent this year to Rs 296.58 lakh crore. The ministry had assumed in its calculations that the nominal GDP would grow 10.5 percent this year to Rs 301.75 lakh crore.

Brokerages seem a little more optimistic and their estimates lie anywhere between 10 percent and 11.5 percent.

Centre rapidly brought down its fiscal deficit to an expected 5.9 percent of GDP this year from 9.2 percent in 2020-21.

Indian economy to grow at 7% in FY24

“It now appears very likely that the Indian economy will achieve a growth rate at or above 7% for FY24, and some predict it will achieve another year of 7% real growth in FY25 as well. If the prognosis for FY25 turns out to be right, that will mark the fourth year post-pandemic that the Indian economy will have grown at or over 7 per cent,” the Ministry of Finance has said in its review of the Indian economy released today.

CII suggests tax changes ahead of interim budget
— Tax exemption limit for individuals must be increased and linked with inflation

— Review capital gains tax structure by bringing consistency in tax rates for different asset classes such as debt, equity and immovable assets

Boost manufacturing, says Industry lobby
–Extension of the concessional tax regime for setting up of new manufacturing facilities for another five years

–Production Linked Incentive should be expanded to labour intensive sectors, such as apparel, toys, footwear, and chemicals.

Investment expectations of Confederation of Indian Industry (CII) lobby
–Continue spending on infrastructure, expand incentives for manufacturing and tweak import taxes on inputs for certain goods.

–Continue to focus spending on infrastructure and increase it by at least 20% to 12 trillion Indian rupees

–Continue to extend support to states in the form of interest free 50-year loans, and increase the allocation by 23% to 1.6 trillion rupees in 2024/25.

Budget 2024 Expectations Highlights:
Finance Minister will present an Interim Budget for 2024 as it is election year.

Highlights: The Union budget holds a significant position in the financial calendar, sparking increased anticipation regarding the government’s expenditures, fiscal deficit, and personal taxation.

Street expects FY25 nominal GDP growth at 10%-11.5%. Market participants are eagerly awaiting the nominal GDP growth estimate for 2024-25.
India’s nominal GDP is seen growing by 8.9 percent this year to Rs 296.58 lakh crore. The ministry had assumed in its calculations that the nominal GDP would grow 10.5 percent this year to Rs 301.75 lakh crore.

Brokerages seem a little more optimistic and their estimates lie anywhere between 10 percent and 11.5 percent.

Centre rapidly brought down its fiscal deficit to an expected 5.9 percent of GDP this year from 9.2 percent in 2020-21.

Indian economy to grow at 7% in FY24

“It now appears very likely that the Indian economy will achieve a growth rate at or above 7% for FY24, and some predict it will achieve another year of 7% real growth in FY25 as well. If the prognosis for FY25 turns out to be right, that will mark the fourth year post-pandemic that the Indian economy will have grown at or over 7 per cent,” the Ministry of Finance has said in its review of the Indian economy released today.

CII suggests tax changes ahead of interim budget
— Tax exemption limit for individuals must be increased and linked with inflation

— Review capital gains tax structure by bringing consistency in tax rates for different asset classes such as debt, equity and immovable assets

Boost manufacturing, says Industry lobby
–Extension of the concessional tax regime for setting up of new manufacturing facilities for another five years

–Production Linked Incentive should be expanded to labour intensive sectors, such as apparel, toys, footwear, and chemicals.

Investment expectations of Confederation of Indian Industry (CII) lobby
–Continue spending on infrastructure, expand incentives for manufacturing and tweak import taxes on inputs for certain goods.

–Continue to focus spending on infrastructure and increase it by at least 20% to 12 trillion Indian rupees

–Continue to extend support to states in the form of interest free 50-year loans, and increase the allocation by 23% to 1.6 trillion rupees in 2024/25.

]]>
https://manjushreesudheendra.com/2024/01/31/budget-2024-expectations/feed/ 0
How India Became A Republic In 1950. https://manjushreesudheendra.com/2024/01/26/how-india-became-a-republic-in-1950/ https://manjushreesudheendra.com/2024/01/26/how-india-became-a-republic-in-1950/#respond Fri, 26 Jan 2024 04:04:33 +0000 https://manjushreesudheendra.com/?p=469 India is celebrating its 75th Republic Day today (26 January, Friday), marking the adoption of the constitution on this day in 1950.

The theme of this year’s Republic Day is ‘Viksit Bharat’ and ‘Bharat: Loktantra ki Matruka’, which symbolise the country’s aspirations and its role as the nurturer of democracy.

Republic Day stands as a source of pride for Indians worldwide, symbolizing the end of the struggle for independence and the establishment of a self-governing nation. It serves as a tribute to the democratic principles enshrined in the Constitution, guiding the nation forward. 

On January 26, 1950, the Constitution of India came into effect, replacing the colonial-era Government of India Act of 1935.

The transition from a dominion under British rule to a sovereign, democratic republic on January 26, 1950, stands as a defining moment in India’s history. 

This marked the birth of the Indian Republic, and Dr Rajendra Prasad assumed the presidency, symbolising a shift from allegiance to the British monarch to an independent Indian head of state.

The adoption of the Constitution on November 26, 1949, was a precursor to the Republic Day celebrations.

While India’s Independence Day celebrates its freedom from British Rule, the Republic Day celebrates the coming into force of its constitution.

January 26 holds a special place in India’s political calendar because, in 1929, the Congress party declared ‘Purna Swaraj,’ rejecting the dominion status proposed by the British regime.

]]>
https://manjushreesudheendra.com/2024/01/26/how-india-became-a-republic-in-1950/feed/ 0
Budget 2024: Fin Min may assume 10.5% nominal GDP growth for FY25 fiscal math. https://manjushreesudheendra.com/2024/01/25/budget-2024-fin-min-may-assume-10-5-nominal-gdp-growth-for-fy25-fiscal-math/ https://manjushreesudheendra.com/2024/01/25/budget-2024-fin-min-may-assume-10-5-nominal-gdp-growth-for-fy25-fiscal-math/#respond Thu, 25 Jan 2024 07:35:37 +0000 https://manjushreesudheendra.com/?p=466 Budget 2024: Fin Min may assume 10.5% nominal GDP growth for FY25 fiscal math.

The finance ministry may assume a nominal GDP growth of 10.5 percent for 2024-25 in its interim budget calculations, according to a Moneycontrol poll of 15 economists.

The nominal GDP growth assumption is crucial to Budget calculations. For instance, the absolute fiscal deficit as a percentage of nominal GDP for next year is a key metric. A higher nominal GDP growth number – and, consequently, a higher nominal GDP – can make the fiscal deficit smaller as a percentage.

Fiscal consolidation in India has mostly been revenue-driven due to expenditure rigidities. Therefore, the economic growth has a strong bearing on tax collection and, in turn, on fiscal consolidation,” India Ratings and Research noted.

With wholesale inflation – which has a strong bearing on nominal GDP growth – expected to keep rising in the coming months after remaining sub-zero for the first seven months of 2023-24, India’s growth without adjusting for inflation is seen higher next year.

As per the statistics ministry’s first advance estimate of national income for 2023-24, India’s nominal GDP is seen growing by 8.9 percent this year to Rs 296.58 lakh crore. The finance ministry had assumed in its calculations in the Union Budget presented on February 1, 2023 that the nominal GDP would grow 10.5 percent this year to Rs 301.75 lakh crore.

Two years of very high nominal growth – thanks to high inflation and a favourable base – in 2021-22 and 2022-23 helped the Centre rapidly bring down its fiscal deficit to an expected 5.9 percent of GDP this year from 9.2 percent in 2020-21. But with the base effect normalising and the key Wholesale Price Index (WPI) inflation so far subdued, nominal growth has come off sharply from 16.1 percent in 2022-23 and 18.4 percent in 2021-22.

We expect the 2024-25 gross fiscal deficit-to-GDP ratio to be around 5.4 percent, with an assumption of nominal GDP of around 10.3 percent,” noted economists Madhavi Arora ansd Harshal Patel of Emkay Global Financial Services.

The Indian government is looking to cut its fiscal deficit to 4.5 percent of GDP by 2025-26.

]]>
https://manjushreesudheendra.com/2024/01/25/budget-2024-fin-min-may-assume-10-5-nominal-gdp-growth-for-fy25-fiscal-math/feed/ 0