Can India be a USD 5 trillion economy by 2024?

The present government of India has set a target to make India a $5 trillion economy by 2024.

 India’s GDP in 2018 was $2.73 trillion dollars. 2019 -2.97

Yes, India can become a 5 trillion dollar economy by 2024:

 Ease of doing business has improved drastically in recent years. India ranked 77 in the
World Bank’s Ease of doing the business index of 2018. India’s rank was 130 in 2016. This
improvement helps in the growth of the economy.

 In Budget 2019, 100 lakh crore rupees were announced for infrastructure over the
next 5 years. This will create lots of employment opportunities and will improve the transport
sector. So, this will, in turn, improve the economy.

 Reserve Bank of India has announced interest rate cuts, which means EMIs will get
cheaper. So, this can result in more purchases by the public by taking loans and thereby
increases money circulation.

 Recently, on 23rd August 2019, Finance minister Nirmala Sitaraman announced some
support measures for the economy. In this announcement, steps were taken to support the
auto industry. It was also announced that Rs.70,000 crores will be infused to banks so that
banks will be able to issue fresh loans. This will eventually help in economic growth. So, this
gives us hope that the government is actively taking steps to achieve the goal.

 Our Finance Minister Nirmala Sitaraman has promised to bring more reforms in the
coming days to improve economic growth and thereby to make India a 5 trillion dollar
economy by 2024.

 Reserve Bank of India is transferring Rs. 1.76 lakh crore surplus funds to the
government. This helps the government to invest money in several sectors and bring
economic growth.

India may not become a 5 trillion dollar economy by 2024:

 At present India is facing an economic slowdown. In the April-June quarter, India’s

GDP growth was just 5.7%. To become a $5 trillion economy, India’s GDP growth should be
at at least 8%, and nominal GDP growth should be at least 12% (Nominal GDP growth means
Real GDP growth plus inflation). But considering the present circumstances, it is very
difficult for India to achieve that growth. Recently, Moody’s Investor service revised India’s
GDP growth to 6.2% from 6.8%. Even 2019’s Economic survey predicted this year’s GDP
growth as 7%. So, if we take these things into consideration, it seems highly impossible to
achieve the goal of making India a 5 trillion dollar economy in the next 5 years.

 Because of the economic slowdown in India, foreign investors pulled out

approximately Rs.8,300 crore in August 2019 alone. Already there is a lack of private
investment and also a domestic investment. So, it may take so much time for the Indian
economy to recover.
 Many sectors are reporting slow growth because there is low demand for goods and
services. This is reducing the circulation of money and resulting in more unemployment,
which in turn reduces the demand for goods. So, right now India is caught up in this vicious
cycle. Working on these things and making India a 5 trillion dollar economy at the same time
seems impossible.

What needs to be done:

 The government should focus on inclusive growth to achieve the goal rather than just
focusing on increasing the GDP. Because in India, income inequality is very high. So, if the
rich get richer and the poor became even poorer, a 5 trillion dollar economy will be no use to
the common people. So, the government should take steps to improve the income of common
people. It should take effective steps to create a large number of employment opportunities,
to simplify GST and to bring structural reforms. It will increase the money at hand for
common people, which will result in the purchase of more goods and services and will
eventually improve our economy. And then even if India may not achieve the goal, it will be
successful because there will be happier people.

Conclusion:

Having a goal is definitely a good thing because it encourages the government to take
steps in that way. Becoming a 5 trillion dollar economy by 2024 is an achievable goal for
India. But considering the present circumstances, it seems impossible to achieve it. However,
we have 5 years at hand. So if the necessary reforms are brought, there is a possbility that
India will achieve the goal.

What corporate tax cut means for the Indian economy

The corporate tax cut is part of a series of steps taken by the government to tackle
the slowdown in economic growth.

In its boldest gambit yet to stir up the economy, the government on Friday issued an
ordinance to reduce the corporate tax rate for domestic firms and new
manufacturing units by 10 to 12 percentage points, effectively bringing India’s tax
rates on par with its competing Asian peers.

Finance Minister Nirmala Sitharaman said that the effective tax rate for domestic
corporates, inclusive of surcharges, will fall from 34.94% to 25.17% if they stop
availing any other tax sops. For new manufacturing firms set up after October 1,
2019 and commencing operations by March 31, 2023, the effective tax rate will fall
from 29.1% to 17%.
The story so far:

Finance Minister Nirmala Sitharaman on Friday, among other things, announced a

significant cut in corporate tax rates, thus bringing down the effective tax rate
(including various cesses and surcharges) on corporations from 35% to 25%. Also
under the new corporate tax policy, new companies that set up manufacturing
facilities in India starting in October and commence production before the end of
March, 2023 will be taxed at an effective rate of 17%. Following the government’s
decision, both the Nifty and the Sensex rose over 5%, which is their biggest one-day
rise in a decade.

Why is the government cutting taxes?

The corporate tax cut is part of a series of steps taken by the government to tackle
the slowdown in economic growth, which has dropped for five consecutive
quarters to 5% in the June quarter. The most immediate reason behind the tax cut
may be the displeasure that various corporate houses have shown against the
government’s policies. Many investors, for instance, were spooked by the additional
taxes on them that were announced by the government during the budget in July and
began pulling money out of the country. The government hopes that the new, lower
tax rates will attract more investments into the country and help revive the domestic
manufacturing sector which has seen lackluster growth.

What impact will it have on the economy?

Tax cuts, by putting more money in the hands of the private sector, can offer people
more incentive to produce and contribute to the economy. Thus the present tax cut
can help the wider economy grow. The corporate tax rate, it is worth noting, is also
a major determinant of how investors allocate capital across various economies. So
there is constant pressure on governments across the world to offer the lowest tax
rates in order to attract investors. The present cut in taxes can make India more
competitive on the global stage by making Indian corporate tax rates comparable to
that of rates in East Asia. The tax cut, however, is expected to cause a yearly
revenue loss of ₹1.45 lakh crore to the government which is struggling to meet its
fiscal deficit target. At the same time, if it manages to sufficiently revive the
economy, the present tax cut can help boost tax collections and compensate for the
loss of revenue.
What lies ahead?

Some see the present tax cut simply as a concession to corporate houses rather than
as a structural reform that could boost the wider economy. They believe that the
current economic slowdown is due to the problem of insufficient demand which
cannot be addressed just through tax cuts and instead advocate greater government
spending to boost the economy. Others, however, argue that lackluster demand
faced by sectors like automobiles is merely a symptom of supply-side shocks such
as the goods and services tax that have affected various businesses and caused job
losses. If so, tax cuts and other supply-side reforms can indeed help the economy
recover from its slump. However, the government will also need to simultaneously
enact along with these tax cuts other structural reforms that reduce entry barriers in
the economy and make the marketplace more competitive. The government could,
for instance, extend the tax cuts to smaller businesses. The benefits of the present
tax cut will also depend on whether the government sticks to its promises in the long
run. Investor confidence in the past, it is worth noting, has been affected by
retrospective changes to the law made by governments in the past.

A room without books is like a body without soul - Roman philosopher Cicero

Body is a container, to which a soul adds value. Similarly, a room is a container to

which books add value.

Body is perishable, while a soul is immortal. Similarly, rooms/physical places are

perishable while books record history and are immortal.

Books represent permanence. We are still decoding ancient texts and scriptures
which have been discovered from millions of years ago. Books give insight into
people and we gain a moral conscience which is what is the essence of a soul.

The soul is a concept that comes from religion, and books are the medium through
which religion is passed on - through the holy scriptures.

Just as a book can be interpreted differently by different people, similarly a person

(a soul) is viewed differently by different people.

When the same book is read again, different nuances emerge. The more one
interacts with a person, different nuances of their soul/ core personality emerge.
 A body without soul represents something superficial and empty. Similarly a room
without books is a room without wisdom. Looking at the opposite point of view, this
statement need not be true in today's virtual world. The absence of physical books
doesn’t mean the absence of books. People today have shorter attention spans,
reading habits have gone down. This statement belongs to an earlier time when
people would go in depth into subjects. Books are not the only thing that give soul
to a room. When we visit historical sites like the Taj Mahal or palaces, each room
has a soul even if it may not have books. Just because a room has books doesn’t
mean it has a soul. The books may be just for show, without anyone reading them.

For me my books have deep sentimental value and my collections show the
different stages in my intellectual development. I like to keep a record of how I
have progressed and I also keep a section of books I have yet to read as a reminder
of where I hope to be – the person I hope to be – some day in the future. I hope that
books that are rich in information will change the way that I think, behave, feel, and
connect with others; such a transformation is beyond the physical and can changer
one’s temperament and spirit. Perhaps we truly are feeding our souls when we pick
up a book.

The room need not even be a physical place; the room in our hearts must be
decorated with the beautiful pages of literary masterpieces.

There is Always a better Tomorrow

Many a times when people experience the setbacks or failures in the life,
the closed one inspires them by saying there is always a second chance. It
is a more optimistic approach to live a life.

Yes

• Failures should not stop people from moving ahead as every day comes
with a new hope and new opportunity.

• Amitabh Bachchan Production Company failed but then he utilized the

second chance in the form of KBC and made it big.

• There are many other famous people who failed at their first attempt but
it is the second chance that provided them with victory.

• If the first marriage fails then people can opt for a second chance, opt
for divorce and marry to someone else.
• People who won from cancer like Yuvraj Singh are blessed with the
second chance to live a good life again.

No

• A student caught for cheating in exams will just face the punishment of
expel without any option of second chance.

• Driving carelessly can just result in the accidents that can lead to the
permanent physical injuries or death that is irreversible.

• Pouring money in the gambling and the stock market will destroy all the
financial disciplines of life making it to zero.

• People can forgive you for the harsh words but they will not forget it and
will close the doors of second chance for mending the relationships.

• Time and tide stops for none, and time once passed can never be bought
again. The left over time can just be used.

Conclusion

Second chances are there in some cases, but in the other cases it is just
the second choice. There is certainly a difference between chances and
choices. A second chance is not the guarantee of going in the past and
rectifying the mistakes. However, if tried people can create the second
chances and put in their best efforts to get blessed with the good things of
life.

Black Is Good

Introduction

Many a times, people avoid wearing color ‘black’ stating it as an

inauspicious color that brings adversity to the family. Even the females
who are black-colored are hardly considered as beautiful. There are many
other instances seen in the daily life that indicate people don’t like black
color. Black market, black day, black Monday, etc everything that is bad is
termed as black. Today let us debate on the topic - ‘Black is good’ so as to
know what the views of today’s generation are:

Yes
1. The color of coal is black which is used to meet the energy demands of
various segments. It is used for residential as well as the commercial
purposes.

2. The color of kajal is black, and it is used to enhance the beauty of eyes.
So, a thing that increases beauty can never be bad.

3. Black is one such color which when mixed with other colors never loses
its identity. It remains black denoting that no matter what it is superior to
other colors.

4. Black pepper provides relief from various health problems including but
not restricted to coughs, anemia, muscular strains, dental disease and
many others.

5. Nelson Mandela is a famous personality who worked to end apartheid in

South Africa. He belonged to black community but is a respectable
personality all over world.

No

1. Darkness is associated with black color and when there is darkness

people loses their visibility of things. It ultimately creates problem for
people.

2. Black when mixed with other color tends to convert them into black. It
indicates that people with negative deeds are harmful for all other people
in the society.

3. Sometimes in certain cases, or if the oxygen level drops, the blood color
tends to appear almost black. It indicates that black is a sign of problems.

4. In the longer term, black coffee has been linked with an increased risk
of osteoporosis, heart disease and high cholesterol.

5. In darkness, it is not possible to click the pictures. There is always

requirement of light to get clear view of things.

Conclusion

There is nothing like good or bad, it is only our perception that gives
meaning to an object. Black is nothing but a simple color. It cannot be
termed as good or bad. What really matters is the benefits and
 disadvantages of black-colored things. If they offer benefits, black is good,
and if they create problems, black is bad. It is equally applicable for black-
colored people. Black is just the color of skin, and it can never define a
person’s character.

Roses are red, crows are black

 The red color of roses signifies life and optimism. The color of blood,
vital to living beings, is also red. Red is the color most commonly associated
with joy and well being. It is the color of celebration and ceremony. Whereas
black signifies mourning, death, and sadness. Even the color of ashes after one’s
funeral is also black.
 In ancient Roman and Greek culture, red roses were linked with Venus, the Goddess
of love.Bright red roses are interpreted as the ultimate expression of romantic and abiding
love. Their bright red shade expresses these emotions perfectly.
 Crow is one of the most popular spirit animals around the world. Spirit animals are
considered as symbol of magic and mystery in our lives. Traditional meanings associate the
crow with bad omen, death, and dark witchcraft. In Indian mythology Different gods have
different vahanas (animal vehicles). Crow is the vahna of God Shani, who ward off influences
of evil forces.
 Roses pose a dubious picture. They are beautiful in appearance but also possess
thorns, which can prick if overlooked. Likewise anything alluring in sight may have inimical
effects.
 roses are meant to please different moods of people. Roses are the symbol of love
and happiness, mainly because of its colour – red, red is the colour of love and affection.
