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CSR: All You Need To Know

We are back with our new post on CSR (Corporate Social Responsiblity). As announced by the finance minister Nirmala Sithraman: goverment has decided to expand the scope of corporate spent under CSR norms.
The announcement was done during corporate tax cut.

Let’s being with the explanation of CSR and all you need to know about it.
Here we go!!

What does CSR stand for?

CSR basically stands for Corporate Social Responsiblity, a.k.a. Corporate Conscience, Corporate Citizenship or responsible business refers to a corporation owning the responsiblity for environment & Social well being.

In short, if Company X of a particular country is performing well, it might be using the infrastructure and resources like roads, raw materials, human etc. of that country. Hence, they owe back a responsiblity to the country .

Is Corporate Conscience mandatory?

Now the question is: Is It is mandatory for all the companies in across the world? The answer is “no”. India is the first country which made CSR mandatory under section 135 of Companies Act 2013.

As per the act, companies having net worth of 500 crore, or turnover of 1000 crore, or a profit of 5 crore, have to pay a mandatory tax of 2% of their net profit to certain sectors.

Which are these sectors?

Here is the list of these sectors, prepared by Confederation of indian Industry:

  1. Eradicating hunger, poverty and malnutrition
  2. Promoting education and enchancing vacational skills
  3. Promoting gender equalitity
  4. Rural development.
  5. Contribution to PM relief fund
  6. Clean Ganga fund
  7. Promotion of sports, art and culture and providing basic healthcare among others.
  8. Measures for benefits of armed forces veterans, war widows.
  9. Contribution to technology incubators.

What government has done regarding CSR?

Looking at the Research and Development sector contributing just 1% to the GDP unlike USA and China, government has added it to the above list.

We’ve the official statement of the goverment too, hope you’ve a look:


“Now CSR 2% fund can be spent on incubators funded by central or state goverment or any agency or public sector undertaking of central or state goverment, and making contributions to public
funded universities, IITs National laborities and autonomous bodies(established under the auspices of ICAR, ICMR,CSIR,DRDO, DST, ministry of electronics and information
technology) engaged in conducting research in Science, Technology, and medicine, aimed at promoting SDGs (sustainable development goals)”

Inputs from GOI

Is there something good to happen?

As 2% of Companies profit or turnover or net worth comes out as CSR, it will be a great contribution to these sectors. Amount paid by companies in 2014-2015 is 10,066 crore while in 2017-2018 is 13327 crore. Doesn’t it seem to be a large collection?

Besides, out of total 21300 companies, only 10800 comapanies have paid their CSR. So goverment has still much to collect!!!

Love,

Mistella

National Nutritional Week: Tips for Health & Beauty

The National Nutrition Week is being observed throughout the country from 1st to 7th September.
So we’ve decided to celebrate this week and make you aware of your health.
Here we’ve some tips for a healthy “You”:

● Think before putting yourself on diet:
Yes, if you think of yourself putting on weight, then the most obvious choice is dieting!! But is it correct? Well, it does work sometimes but what if it doesn’t? If it doesn’t work, you lose your appetite and suffer from weakness. So, what’s the better option? Obviously, a daily Exercise!! You need not punish yourself for 2 days or a week by restricted food. Just eat healthy and burn calories while exercising everyday and that’s it.

● Don’t try to look like others:
It usually happens with the people in their early 20s or teenage. They try to get the body, colour, height and other characters of their friends. Most of them even experiment with their body and indirectly, with their health. This is dangerous for a person. You should get the point that all of us have different physical appearances because a number of natural factors are involved. So it’s better to get over these thoughts and concentrate on your work.

● Stay away from pain killers:
Most of us are now habituated to take medicine as soon as we feel a little bit of uneasiness. We take pain killers even when the pain is not unbearable. This is absolutely bad for our health as it affects our kidney adversely. Also, too much of medicine contributes to a low immunity.

● Too much of cosmetics??
Exposing your skin to a lot of cosmetic products is hazardous. If you think that putting make up over your face can hide your acne marks or dark circles, then wait!! You’re allowing them to enter your body through your skin and hair. Inside, they may cause a number of diseases. Most of them contain lead, cadmium and other heavy metals. They can also act as skin darkening agents. So beware of using them.

Well, there’s no harm in doing the above things occasionally. You can put yourself on a diet, but not very often. You can try to enhance your charm by looking at your friends. But the only suggestion is, know your body before experimenting with it.

You can take pain killers when the pain is unbearable, but avoid it as much as possible.

You can also put make up on special occasions, but never make it a habit. You may probably end up having an older appearance at a younger age. Besides, most of the cosmetics are associated with cancer in human.

So, basic objective of this national nutritional week is to intensify awareness generation on the importance of nutrition for health which has an impact on development, productivity, economic growth and ultimately National development.

So, do experiments with your mind and not your body.

Thanks for your patient reading, hope you liked this post.
We’ll back soon, till then love who you are and let you inner charm show your true beauty.

Love,
Mistella.

Is Our Privacy Under Threat?

Is Our Privacy Under Threat?

Privacy, right from the preamble, is assured as a liberty. But the supreme court judgement made it explicit. There was an atmosphere of joy when Right to Privacy was declared a fundamental right. This watershed moment in the constitutional history of India is about to turn into a furore. This predicted furore might be an outcome of upcoming threat to our privacy.

Okay, before I begin with the news and it’s analysis, I suggest you to know it in a broad manner from here

I will explain the whole story in short but still I suggested you read the above article to avoid confusion.

So let’s get back to the point!!

What is the threat?

The Ministry of Home Affairs authorised 10 central agencies to intercept, monitor and decrypt information from any computer recently. This was issued in accordance with Information Technology Act, 2000. But does this Act mention the basis of this surveillance? No, it does not! And here arises the threat. How can one entrust his personal information to these agencies? Isn’t it violative of our Right to Privacy? Let’s analyse the situation together.

Which are these 10 Agencies?

Before we move, it’s obligatory to know these names. Afterall, we’re going to be under their watch!

Pixabay_image

So here’s the list:

• Intelligence Bureau

• Narcotics Control Bureau

• Enforcement Directorate

• Central Board of Direct Taxes

• Directorate of Revenue Intelligence

• Central Bureau of Investigation

• National Investigation Agency

• Cabinet Secretariat (RAW)

• Directorate of Signal Intelligence (For service areas of Jammu & Kashmir, North-East and Assam only)

• Commissioner of Police, Delhi.

What empowers them?

Now the question arises that what empowers them. On what basis they can claim our computer resources? This power is reportedly issued in accordance with Information Technology Act, 2000. This, we already know. And also, that this process is in conformity with section 69 of IT Rules, 2009.

The government justifies the provision on the basis of assumption. But the source is still in doubt. The Right to Privacy verdict 2017, logically invalidates this IT rule of surveillance. But still, if it has come with a positive cause, we can’t deny to welcome it.

The So-called Positive cause

As we know that any of the fundamental rights is not absolute, so is the Right to Privacy. We have to compromise our liberty and freedom when it comes to national security and the increasing terror is absolutely a threat to it. Further, its obvious that surveillance has to be taken away from public eye. So practically, the new rule craftly maintains the equation between the privacy and security. But does this much explain the whole story? Absolutely not! So let’s dig deeper.

Elephant in the room?

No doubt, section 69 of IT act provides for surveillance in National interest. But the new notification does not specify the ‘kind of surveillance’ and ‘how and when it will arise’. Neither there is any parliamentary control nor the scope of judiciary advice. Even if an individual is under surveillance, she can’t reach the court. How would you know that someone’s eyes are on you? There is no system of prior warning here!

So it simply reveals the craft of executive. The whole system is highly bureaucratised. There is no scope to know the very nature of surveillance at all. Hence this completely opaque system of assuring national security is a bit tough to digest.

What can be deduced?

So the whole system is based upon the assumption that section 69 of IT Act is legitimate. This provides the source of power to the government agencies. Hence the new notification is constitutional. Isn’t it? But still, why this furore? why is it being called a threat?

Now it’s the time to take out the hidden problem. No doubt, there’s some issue with the new law of surveillance. So let’s find it out.

The hidden issue

The system of surveillance is quite complex. The framework is confusing. The source rule itself is written in a broad sense. It’s absolutely difficult to find out the meaning of surveillance from it. Besides if we read the original statement of section 69 of IT Act, the grounds of surveillance looks like copy pasted reasons. Yes! it’s been apparently lifted from article 19 (2) and pasted without any change.

Surprisingly, we are so dumb that we are unable to deduce the ground from the phrase. Right?? But even the great advocates of law can’t deduce it, if the phrase is so wide. Phrases such as “friendly relations with foreign state” and “sovereignty and integrity of India” are not enough to describe the grounds of surveillance. How one can be supposed to compromise his privacy on such broad faces?

Is there any solution?

Solutions are there for sure. Surveillance is necessary for nation. But there should be a controlling body to monitor the whole system. It is impossible to entrust our personal information in the hands of executive only.

So what needs to be done, is to initiate the whole process with a clarity. First and foremost, the grounds of surveillance should be made Clear. Second, there must be a request sent to the judiciary before bringing an individual under surveillance. This is essential to keep the governance in harmony with legitimacy. Third, the parliament from time to time, should monitor the whole procedure. This will make the process unbiased and probably more trustworthy.

So this was all for today. Hope you enjoyed reading. You can also share your views with us. Feel free to contact us

If you want us to publish your articles, you can contact us. We’ll be glad to share your thoughts as guest posts on weekends.

Love,

Mistella.

What Stops Indian Economy To Grow?

On Mr. Rajan’s Statement

Raghu Ram Rajan was the former governor of RBI. He has asserted the Demonetization and GST as the two headwinds in the way of economic growth of India.

Raghu ram Rajan is an eminent economist.

Raghuram Rajan, former Governor of the Reserve Bank of India. AFP PHOTO/NICHOLAS KAMM
(Photo credit should read NICHOLAS KAMM/AFP/Getty Images)

“The two successive shocks of demonetisation and the GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking up,” he said delivering the second Bhattacharya Lectureship on the Future of India.

According to Mr. Rajan, the current 7% growth isn’t enough. It is not enough to support the needs of the country.

He said,

“..for four years- 2012-16- India was growing at a faster pace before it was hit by two major headwinds..”

Apart from these two shock blows, India is facing some other issues too.

We will talk about them in detail. But before that let’s make the major two headwinds clear. What’s say???

Demonetization

It was an absolute surprise!! A surprise announced on November 8, 2016.

Economic Survey Of India, 2017-18 was released just before the general budget 2018. It claimed that all the negative impacts of Demonetization have ended.

Impact On Economy

The Demonetization stabilized the cash to GDP ratio. This suggests a return to equilibrium.

The survey says that GDP will rise from 7% to 7.5% in 2018-19. This might be proved as an increment from prediction of 6.75% growth this fiscal year.

The import and export data suggests that the Demonetization effect was over now. The data has come to be in line with the global trends. This implies that the Demonetization and GST effects are receding.

The main objective of Demonetization was to curtail the black money. They were running as shadow economy. Besides stopping the counterfeiting was also an objective behind it.

Goods And Services Tax (GST)

It came into effect on 1st July, 2017.

It was an indirect tax levied to replace most of the indirect taxes.

It is probably a comprehensive, multi- staged, destination- based tax. It is levied on every value addition.

It is one Indirect tax for entire country.

How It Works

Tax is levied on every point of sale. Hence, multi- staged.
On intra- state sale, CGST* and SGST* is levied. While on inter-state sale, IGST* is levied.

*CGST- Central Goods And Services Tax, SGST- State Goods And Services Tax, IGST- Integrated Goods And Services Tax.

The impact of GST on economy is quite visible. It has helped in avoiding cascading effects*. Tax is collected on value addition at each stage of transfer of ownership.

Non-performing Assets

It is an asset that has ceased to generate income for the lender. It is also termed to be “bad loans” in the recent past.

NPAs have really proven to be the toxic agents for the banks in India.

On this issue, Mr. Rajan said,

“..best thing to do is to “clean up”..”

Oil Price Hike

It is already the hottest topic in the market. So we don’t think it needs any further detail!! And the reason behind it is the excessive reliance. Excessive reliance of India on oil import for its energy needs.

So, these were the issues India needs to overcome.

Possibilities of India

Back to Mr. Rajan’s statement, he suggested so many things too.

According to him, India is capable of strong growth. Now what it needs to do:

India needs to create about 1 million jobs per month. These jobs are required to be created for people joining the labour field.

Three Challenges Before India

1. Torn infrastructure – It actually needs to be stiched. As construction sector is the wheel of economic growth, it needs attention.

2. Unclean power sector– Power sector needs cleaning. As it is the source of electricity. And electricity needs to be distributed so that it reaches the needy.

3. Unclean Banks– Yes, the detoxification of banks is the need of the hour.

Finally, Mr. Rajan stated that the excessive centralisation of power is the key source of ceased growth of the economy. This was explained by him in a very humorous way. He took the example of the ‘ Statue Of Unity’ and explained the whole mess.

So people, this was an instant post. Hence, imperfect. But we hope you get some basic information about our economy.

It was completely based on Mr. Rajan’s statements, which is laudable and brave. Every word of his lecture inspired us to write a justified opinion.

We apologise if you don’t agree to any of the sentences.

Thanks for reading and we hope your Diwali was awesome!!

Mistella.

Rupee Fall In 2018: All You Should Know

Indian Rupee hits its all time low against the dollar. This has become a matter of worry and concern in the sector of Indian economy.
According to recent reports, it reached the 71 a $ mark. This in turn, has prompted the central bank or the Reserve Bank to interfere in the market to soften this continuous fall.
The RBI was pushed to sell dollars to stabilize the currency market. The sharp devaluation of currency is a result of the strethening of the US dollar. This is being observed since mid April. But still, Moody Corporation, often called as moody’s. It is an American financial investment company. It still believes that the Indian economy is least to vulnerable to this currency depreciation.

Why is India least vulnerable to currency pressures?

There are a lot of reasons that make India non- vulnerable to dollar strengthening. Probably, India is among the five countries which are the least vulnerable to this pressure. Let’s find out why!!

Rupee logo

Pixabay image


India’s less dependence on foreign currency:

Yes, India is not very much dependent on currencies from abroad. It doesn’t use them to fund it’s debt burden. Consequently, that limits the risk of the horrible impact of depreciation.


Moderate Currenct Account Deficit (CAD):

But before everything else, let’s get to know what does the Current Account Deficit or CAD mean?
So CAD is the measure of the trade of a country (here India in our case). Here the value of its imports is greater than the exports.
Now you are probably able to understand this. Since the Current Account Deficit of India is moderate. It is unexceptional relative to GDP. This limits the risk of vulnerability. Additionally, it was largely financed by the equity inflows. This also includes the Foreign Direct Investment (FDI).


Buffer of forex reserves:

India’s significant buildup of foreign exchange reserves act as buffer. This helps to reduce the external vulnerability risk. Also India is relatively large and stable economy. It is stable with its strong domestic base. This contributes to limit the risk of currency pressure too.


Local currency debts:

India’s debts are no doubt large. Also its affordability being comparatively weak. But the average maturity of these bebts is close to 10 years. And the good news is, about 96% of them is in local currency.

Why to compare with dollar?

Here is your answer! Dollar is the currency of the USA. And USA is the greatest economic superpower of the world. So it is assumed to be a stable economy. Hence it can be believed that no significant change will be observed in its economy in the near future. So All the currencies of the world are compared to the value of the US dollar.

What is the reason and trend of this depreciation?

The escalated trade war between the US and China has paved a way for this challenge. Besides, there is high impact intensity in some sectors. Like jewellery, gems and oil see price hike. This too, is a reason behind the issue. The rise in oil price also observed. From this, it is quite clear that the CAD must contribute to this challenge.
There are still a number of reasons and trends as well. These trends are of great Value in escalation of this issue. In addition, rate hikes have made dollar assets give more return. Thereby making emerging market assets look less appealing.
owing to this, a number of Foreign Portfolio Investors have pulled out a cumulative 9.4 dollar approx, from equity and bond markets since January itself.

How will it impact the economy?

India imports a number of products which do not have any alternative, hence the weakness of currency will make these imports comparatively costlier. Crude oil being the most common example, has seen a drastic price hike in the retail market due to the same reason.
All these lead to higher rate of inflation, which will implicitly be detrimental for growth of the overall economy. Even the RBI has estimated that every 5% fall in rupee will lead to increase in retail inflation by 20 basis points.
If we deeply observe this issue, then we can clearly conclude that the students studying in foreign or Overseas Universities will also be affected badly, for they need to purchase dollars to pay their fees in return of rupee.

How will it impact the export market?

Weakened currency will offer a limited relief to the exporters. It will help the export of services more than the export of goods. Probably because the overall merchandise exports have an average import intensity of as much as 60% with limited addition of value in a number of segments.
Basically, this rupee fall has come when the developed market like the US has turned protectionist.
According to the exporters, this fall in rupee is not much profitable or helpful for their export business.

What can be done now?

If we try to think over the depreciation properly, it will provide two kinds of solution one in the long-term and the other being the short-term. Let’s know about them in a bit detail, what say? We really don’t think you won’t agree here due to any reason so let’s begin the conclusion!!

1.Long-term Solution:

Every problem contains its solution with it. All one needs to do is to sleep over it properly. India imports those products which do not have any alternative in the domestic market. If we talk about crude oil, we find that all the petroleum products are price inelastic.
On the other hand, they contain carbon which produces large amount of pollution. But still there use has become a necessity for daily needs. Their price rise has made transportation facilities way more costlier.
Hence, it is the high time to find an economic and environment-friendly alternative to them. This is honestly the best option to stabilize the economy but will be time taking.

Getty image

2. Short-term Solution:

Here comes the need of RBI to increase the inflow of it’s buffer of dollar in the market. But this should be done with consciousness and complete attention. Because this can be proved to be a bit risky solution.
Besides, OMO or the Open Market Operation can also be proved to be good solution. Here the central bank can buy government bonds and sell it to the people in the market.
In addition, the option of NRI bonds too, can work. This has been proved to be a good measure in the past.

So dear readers, this was all about the Rupee depreciation in India. This fall is especially pushed by the trade war world over. subscribe to our blog for more search articles and poetries.

stay aware and make others too.

Mistella

How Is the Indian democracy balanced

The arrival of democracy

It was a long process of sacrifices and struggles which marked a blurred advent of democracy. But establishing a true democracy was not a cake walk. It took more than a hundred years to know the value of democracy and its need in a country.
Even though it was a sign of independence, democracy came with a negative aspect. It provided independence from the unwanted reign of foreigners, but it gave a long lasting wound to the country as well.

The wound that India still bears

This wound is none other than the partition of a country into two dominions. The struggle ended but the pain remained in the heart of freedom fighters who were struggling to make their country free of outer rule.

It took the life of the great Mahatma Gandhi, who is still remembered as one of the pioneers of the freedom struggle. It took the life of so many great people who dreamt of an independent country but never thought of it breaking into two parts, India and Pakistan.

The changing scenario

It was not at all easy to establish a democratic government in India. But this has been tried to achieve to a large extent. Today, India is a democracy and holds a democratic government.

It has tried to maintain a balance among three organs of government, but let’s see how far it has been successful till now…

JUDICIAL ACTIVISM AND THE INDIAN DEMOCRACY

“Justice is a right to attain right.” Right is attained when the system of justice is at hand, not only to those who possess power of muscles and brain, but also to those who were and are still deprived of the priviledges of various policies and schemes, specially made and implemented for them by the other two organs of the government.

Democracy is all about rights and equality of all sections residing in the society. This equality is somehow dependent on the readiness of the Judiciary to take proper actions.

This may be called as judicial activism. The judicial activism has become a great power for the Judiciary of the country and its people. The system has been proved to be successful in order to make every individual aware of the true meaning of democracy.

It has established a beautiful and transparent relationship between justice and democracy.

The PIL or SAL

The judicial activism has been found to be flourished in 1980s. The system of Public Interest Litigation(PIL) or Social Action Litigation(SAL) is the mode of its promulgation in the society.

1980s situations were not such, that the deprived section could reach the court and offered a lawyer. This was a Catastrophe that they were compelled to grapple with for a long time since the country has been provided with a democratic constitution.

Injustice and violation of fundamental rights provided by the constitution to the democratic people of India was seen everywhere for about three decades of independence.

In 1979, Public Interest Litigation became a piercing tool in the hands of the unsensitized sections of the society through which they could attack the powers, who werere in infringing their right in any form.

The system through which their voices calling for justice, could access the court through different means.

The judges started hearing cases on the basis of newspaper reports, editorials and even filed by a person other than the aggrieved. There were many cases that contributed as examples of the judicial activism and its power.

Cases that served as examples

In 1979, the hussainara Khatoon versus Bihar case is one of the best manifestations of the Public Interest Litigation. In this case, a lawyer filed a petition on seeing a large number of prisoners who had been spending years of their life beyond the time limit decided as their punishment.

These under trial victims of the democratic India were exposed by an another person before court, who was a lawyer. The judges accepted this petition and justice was served to a large number of prisoners facing under trial.

Similarly, the Sunil Batra vs Delhi administration case in 1980, which was filed by an inmate of Tihar Jail on seeing the pitiful situation of the prisoners.

Here, the prisoners were treated very badly and were brutally beaten. This case was in news for a long time as it was a petition written to justice Krishna Iyer which was carved on a paper.

The judge took it into consideration and justice too, was provided but the tradition of filing PIL through letters was banned after the verdict of the court.

Even though the court banned the system of filing PIL in form of letters, the case was an epitome of the system of judicial activism.

Flourishing of the PIL system

System of PIL flourished judicial activism and helped protecting democracy in the nation. It made the illiterates aware of the rights and the true meaning of democracy.

It eased their access to justice and also made it affordable. There were many people who didn’t know the basics of accessing court for justice, like how to file a case, what is a petition and many more.. Such illiterate people were provided justice through PILs filed by other person like lawyers and reporters.

A large number of women facing domestic violence were also provided an access to justice. Many social evils that degraded the value of women in society like the system of dowry, child marriage in remote areas were banned. This helped the women maintain their dignity and equality in the society.

Thus, the fundamental rights like right to equality and right against exploitation were provided as promised by the system of Democratic India. Hence, the post- 1980 situations were a bit favourable for such deprive sections of the society.

In 1984, a case was heard called bandwa Mukti morcha vs Union of India. During the trial, the justice had conclusively given an impressive statement which triggered the underprivileged sections. She summarily said that justice should reach to deprive section and that too, in a different way.

Today’s Scenario

The modern democracy states that the “women empowerment is the first step towards the true independence of India”- how convincing the statement seems!

A person living outside the country, if listens such a statement in a speech by our great politicians, then he would surely make an image of Indians as the most “sober men” in the world, isn’t it? But the scene is something really different.

Women are being empowered, there is a section fighting in the name of feminism, but the cost of this Independence is unpredictable. This cost can only be explained by the innocent girl or most precisely the minor, who has been compelled to compromise her chastity.

What is a “home”- a place where you find peace, safety and protection from all the evil intentions of the outside world, right? And shelter Home, a home where you can find shelter if you’re destitute of the environment of a home. But today’s shelter homes are horrible and heinous.

The cases that have unfolded in last few days, show a spine-chilling face of Indians, those Indians who deserve not to be called as “Indians”

What next

There are claims that these cases which have come to light are the result of great political contact, and still are being solved with political aspect.

But actually, every issue is not required to be presented with political aspect. Therefore, a distance which is safe, needs to be maintained between justice and politics.

Besides, some awareness program should be launched and local people should be trained and employed. Their work should be creating awareness among people and such deprived sections, who are being exploited for no reason, about their rights.

I appreciate the initiative taken by the supreme court to open government shelter homes in most of the states of the country, but this cannot be completely appreciated until the verdict or the scheme is truly implemented throughout the country, providing proper safety and peace to the life of these women being sexually and emotionally abused, those children who are being exploited and many others deprived sections of the society.

If the judicial activism truly exists, then it is the responsibility of Judiciary to take proper action for these exploited sections and provide them with the best facility that ensures at least their protection and a two times meal for them and their families in every 24 hours.

These actions are not possible until the three organs of the government corporate with each other and maintain their own portfolio, instead of intruding the work of other.

Stay tuned for more such articles.

Love,
Mistella.

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