Tag: Innovation

India at 75: A Nation Marching towards Aatmanirbhar Bharat

Economy, news

Better late than never. It took us 75 years, but we have finally begun our journey towards self-reliance. An ongoing pandemic overflowing with uncertainty, Covid-19 has impacted lives and livelihoods across the globe. Even as the best minds in the world race towards finding preventive and curative solutions to combat and curb the spread of the novel coronavirus, the current crisis has been an eye-opener to several opportunities that have presented themselves during this time. To this end, Hon’ble Prime Minister Shri Narendra Modi made a much-needed call for an Aatmanirbhar Bharat or a self-reliant India that would be a source of local ingenuity creating global impact. He exhorted fellow citizens to utilize this time of crisis to be vocal for local and be self-reliant. Atmanirbhar Bharat is the vision of making India a self-reliant nation.

The first mention of this came in the form of the ‘Atmanirbhar Bharata Abhiyan’ or ‘Self-Reliant India Mission’ during the coronavirus pandemic-related economic package announcement on 12 May 2020.[1] This self-reliant policy does not aim to be protectionist in nature. It does not mean isolating away from the world. Foreign direct investment is welcome, technology is welcome, self-reliant India translates to being a bigger and more critical part of the global economy. He eloquently identified five pillars on which Aatmanirbhar Bharat would stand and on which a New India could pole-vault to an era of sustainable economic prosperity and societal good, bridging the financial as well as digital divides between the haves and the have-nots. Creating a nation of job-creators and not just job-seekers is the key. And central to this is the need for extensive collaboration between corporate industry, academia, and governments at the village, district, state and central levels. Such synergies have indeed gained momentum with the Covid-19 crisis and need to be further capitalized on. We begin with the pillar of demographic dividend. With over 65% of our country under 35 years of age, more than 1.4 million schools and 10,500 engineering and related institutions, a whopping 39,000 colleges and universities, India enjoys a demographic dividend like no other in the world.

We must enable the channelization of this youthful energy towards nation-building activities by focusing on developing vocational, technical and managerial skills while fostering a culture of innovation and entrepreneurship at the school, university and industry levels. The recent announcements of private sector participation for innovations in space and defence sectors open up a flood of new opportunities for the MSME industry. Any solution developed for 1.3 billion people can also be a possible solution for the 7+ billion people on the planet. The recently launched Bharat App Innovation Challenge by MeitY, MyGov, and Atal Innovation Mission is a welcome step to identify and create world-class apps that can be used by the rest of the world too. India has the perfect environment. It has over 1.3 billion people, a youthful population, a growing middle class, one of the world’s fastest-growing economies, and affordable, available advanced technology to re-imagine new solutions to existing and emerging consumer needs. An ideal situation for thousands of startups and companies to capitalize on and fulfil pent-up demand for new solutions and consumer- or citizen-centric services in every vertical— agriculture, healthcare, education, water management, clean and renewable energy, affordable housing, defence, space, transportation, or retail. The following few examples prove the need and efficiency of a long due movement which will go on to rake supreme growth for our country:

1)The growth of India’s personal protective equipment (PPE) sector from zero before March to 1,50,000 pieces a day by the beginning of May, is considered a fine example of a self-reliant India. The PPE industry in India has become ₹7,000 crores (US$980 million) in two months, the second largest after China.[9]

2) The largest fund in the country worth ₹21,000 crores (US$2.9 billion) was set up by the IIT Alumni Council with the aim of supporting the mission towards self-reliance.[10]

3) India’s own ‘Made in India’ 5G network was also announced in July 2020 by Reliance Jio. Mukesh Ambani announced in mid-July that “Jio has created a complete 5G solution from scratch, that will enable us to launch a world-class 5G service in India, using 100 per cent homegrown technologies and solutions”.

4)For the first time, in July 2020, it was announced that Apple would manufacture one of their premium iPhone models in India.[12]

5)August 2020, Defence Minister Rajnath Singh announced that the Defence Ministry is “now ready for a big push to Atmanirbhar Bharat initiative” by imposing an “import embargo on 101 items” in a staged manner over a period of 5 years. 

 Aatmanirbhar Bharat provides a truly watershed moment in our history to ignite the innovative entrepreneurial spirit of New India by focusing on strengthening the above pillars, which will ensure an unprecedented wave of long-deserved growth, prosperity and well-being that can serve the interests of the rest of the world as well.

Written by – Radhika Ahuja

Cyber World- A boon or a bane?

Social

We all are well aware about today’s generation’s attraction towards the cyber world from adults to the children everyone enjoys the benefits they are getting from the internet. It is a way of receiving information and sharing it to the world. The whole world becomes a global village due to the cyber world. It links the people staying far away from each other and making communication easier through social media.

Students use the internet for learning purposes for entertainment and for innovation whereas adults use it for their official works hence the internet is a boon for everyone but it affects on both ends, good or bad especially for the teenagers who are among the heaviest users of social media. When they indulge themselves in immoral activities on social media gateway and share futile and obscene information on the internet. The negative use of internet affects many lives resulting in cases like threatening, murder and suicide not only this but also according to the research it is found that forty-five per cent of the population access the cyber world above two hours per day which harms their studies and other activities on the other hand. Hence the cyber world has its own positive and negative effects which totally depends upon the users whether they will treat it as a boon or a bane.

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Written by Sukanya Chanda

DON’T QUIT UNTIL YOU TOUCH THE PINNACLE

Uncategorized

“Tomorrow is my exam, but I don’t care because a single piece of paper can’t decide my future.” – Thomas Edison.

The easiest thing in the world is to “GIVE UP” and the most difficult thing is “HOW TO OVERCOME.” The students generally got stuck between two, neither want to quit nor to survive.

Board results have already out. Some scored well and some couldn’t unfortunately. What will be next? Then someone will get the desired stream and some will not be able to do that.

Some will be rebuked by their parents for not getting good marks and some will be mocked by the so-called well-wishers which are enough to push someone towards depression.

“I was failed in the entrance examination to the Swiss Federal Polytechnic school located in Zurich at the age of 16″- Albert Einstein.

Securing an average mark does not make someone useless until or unless he thinks of it.

10 ruthless truths will change your life:

· Fix your goal based on your interest, not others.

· Don’t think about the people talking behind your back.

· Take criticism as a new challenge.

· Be composed and calm.

· Control your anger issues which may lead you to a wrong path.

· Your mirror is the only friend in the world.

· It is normal to have some flaws. People hate perfection and nobody is perfect.

· Keep yourself away from the toxic people.

· Take your life as a journey. So having ups and downs are completely natural.

· Work hard until you get the best outcome.

Every hour one student commits suicide, with about 28 such suicide reported as per National Crime Record Bureau (NCBR). In most cases, depression is the main cause for a student to take such a violent.

Life is an asset and everyone needs to live the moment bit by bit. Suicide can’t be a way of escape. Failure in one examination does not prove that she or he will be a failure every single time. Poor score in a particular subject does not mean anything but only that some concepts are weaker than others. Fix that on your own. It must be remembered nobody can help you until or unless you want to achieve something in your life.

We live in a society where people are always ready to judge you but you will not find their trace when you need them most. Chanakya said, “I am thankful to those who left me because they taught me I can do it alone.”

Confidence is the only ornament you need to wear to be succeeded in life. Giving up from life does not make any sense. Take a difficult subject as a new challenge every day and start practicing it and analyze your mistakes. You might fail at the beginning but eventually, your skills will be developed.

“ All power is within you; you can do anything and everything.” Swami Vivekananda.

Now the decision is yours, whether you will utilize the strength to be on the top of success or leave everything and run away like a true failure. The choice is yours.

-Saswati Chattopadhyay

ONE CHILD POLICY IN INDIA

Uncategorized

As we all know, China has largest population in the world and also it also famous for their ‘one child’ policy though many arguments and critics took place under this policy and also many problems were faced by the citizens of china.

After all the problems faced by China, many Indian ministers are planning for child policy also we all know India is the 2nd largest country in the context of population and everyday millions of mother gave birth to child and everyday population of India is increasing in 2016 Prahalad Singh Patel the member of parliament introduced the bill that would state that limited Indian for 2 Child Policy. However, this policy did not get much support from the other people.

 In early 2020 Mohan Bhagwat leader of National Volunteer Organization (RSS) came in the support of 2 child policy also he declared that 2 child policy will be their organization’s primary goal however many people criticize and claim that this proposal is attempt to limit Muslims population  in India.

  • 2 CHILD POLICY ON LOCAL LEVEL

Though 2 child policy is not in India on national level but some local laws are formed to control the population. Under this policy person who are standing in the election of Panchayat (local level) is having more than 2 children then he/she will get directly disqualified. This is done so that local people can get aware about 2 child policy and look up their local politicians and follow their 2 child example.

Also, in many states rules are been formed under 2 child policy, there will be penalties on the people who will have more than 2 children also there will be no rights given to the child born after the 2nd child the children born after 2nd child will not be able to get any government in future. Also they may not be able to get state provided health care and other nutritional supplements for mother and the 3rd child born.

Father may be fines and jail as the penalties also they may get less government facilities and restrictions in the government job and promotions.

  • CRITICS AGAINST 2 CHILD POLICY

 Many people are against this policy as this policy not only affects the human rights but also may slow down the development of the country. As everyone knows that India is growing country and it is coming up with booming technology industry, for which there is need of young people and if the 2 child policy came in India then might be their will be shortage of youth as for running the technology industry there is the need of young blood.

There are many problem which is faced by the China under 1 child policy more than half of the population has undocumented child after they already has one child also there was large difference in the gender and if this problem arise in India it may create problem like gender discrimination already India is male dominating society and 2 child policy may create more problem.

Also according to human right activist, Indian government is violating the laws of women by encouraging abortions and infanticides of female. Also this policy may result in reason for many men to leave their wife and give her divorce if the women go to political office.

Many uneducated women are also there who don’t even have any idea regarding 2 child policy and due to which they are facing problems many women run to political office and claim that they don’t know about these kinds of policy.

According to many critics these policy is attempt to limit the Muslim’s population in the country as every year there are more Muslim  fertility rate then Hindu which has created fear that Muslim will be become dominating over Hindu. Some also claim that RSS want to maintain the current ratio of Hindu and Muslim.

However, according to critics Muslims are likely to have more baby than 2 therefore this attempt will keep them away from government jobs and promotions.

  • CONCULSION

Despite, many leaders and government liked the 1 child policy but at some stage are country is different from there are country is rich in diversity and this may affect the sentiments of any religion or any gender as well. However it is important to control the population because increase in population is one of the main reason due to which many people are suffering from unemployment, poverty and pandemic disease like COVID19 it has also said after the lockdown the their will be rapid growth in the population which may affect the economy of our country and create problem in the development of the country.

                                                                       By Anjali Sharma

Why do angel investors prefer Tech start-ups over Non-Tech?

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Start-ups (which indirectly fall under MSEs category of taxation) since 2014 have collected around $100 billion and are on the ever-accelerating way to mark its way to $500 billion by 2025, with a projection to create over 35 – 40 lakh jobs. 

It was a beautiful day for Mr. Singh. He had invested in an idea introduced by a bunch of boys who had recently graduated out of an Engineering College. It was something related to irrigation technology with the name “Ivy-Irri Tech”. Mr. Singh had no idea what it was, but his financial advisor and accountant advised him that the investment would garner good profit in a very short period of time. After he found everything to be appropriate, he wrote off a check for Rs 3 crore for 3,000 shares to Ivy-Irri Tech boys. Today, he received the triple of his investment (i.e., Rs 9 crore) as the start-up was brought under the banner of a multinational corporation (MNC).

Mr. Singh was indeed an ‘angel’ who invested in the start-up seeing the growth projection as calculated by the discounted cash flow (DCF) method. He knew and took all the risks on the idea. Like Mr. Singh, there are a number of high-value individuals in our nation who are approached to invest in a small idea, which the ones presenting are able to convince (or show) to be of big worth in a short period of time.

A few days went by and the boys again contacted him over the notice they received from the Income Tax Dept. The notice stated that they had to pay 30% as ‘Angel Tax’ clause of Section 56(2)(vii b) of the Income Tax Act, 1961.

These start-ups operate in a very vulnerable environment and anything can happen any moment. All the money made in the first half of the day may just vanish off by second. The basic principle of start-ups is a low investment to high yield, in less time.

According to Economic Times, “Angel tax is a term used to refer to the income tax payable on capital raised by unlisted companies via the issue of shares where the share price is seen in excess of the fair market value of the shares sold. The excess realisation is treated as income and taxed accordingly.” This is charged when the initial “angel” investor is an Indian, while foreigners are exempted from it as that’d just add more to Foreign Direct Investments (FDI) category. Also, the value of start-ups is counted against the industry suggested method of DCF with the net value present (NVP) method that increases the difference between the projected margins to the excess premium earned.

Hence, now the start-up will have to pay the excess of what they received of initial capital (i.e., Rs 3 crore).  In shares & dividend terms – Mr. Singh bought 3000 @ Rs 10000 each. He sold them (the startup sold it to the MNC) at a premium (excess from Market Value – profit) of Rs 30,000 for each share. Hence, for 3000 shares the excess profit is Rs 6 crore. Now 30% of Rs 6 crore is Rs 1.80 crore and that is what the start-up is charged as “Angel Tax”.

This is a major de-motivation to the hardworking, innovative minds that have worked hard to put up the efforts to bring their dream into happening, just like the “Ivy-Irri Tech” chaps and returned the initial investment in a triple in less than some years, but now are a victim of the ‘Angel Tax’.

However, the income tax regimes in our nation, which are duly unregulated at the helm of dysfunctional bureaucracy and call for immediate reforms at a great extent, do not spare even the ‘angels’. This taxation regime has led to the inclination of angel investors into investing in tech start-ups and deviating from the non-tech cohorts. The falling of start-ups into MSEs category, the very narrow definition of start-ups, and the bureaucracy which looks for an opportunity to put to their advantage, are the reasons for non-tech start-ups being not worth investment against hassles.

Of the limited few exemptions in Angel Tax, the angel investors tend to avoid the non-tech sector as there’s a very obstructive measure which restricts the investment into immovable objects. So if the start-up in non-tech sectors, would involve investment in immovable assets (which is the case in most non-tech start-ups) then the investment would not fall into exemption into start-up’s seed funding and thereby incurring additional taxation.

The ruling Govt. has presented a very ambitious plan to lead India to a $5 trillion economy for which there needs to be a safe growth rate in the economy at 11.3% (also assuming rupee falls to the dollar, further) for the next five years with no exception contrary to the present which is less than 4%. Further, with Moody’s downgrading India to ‘Baa3’ category, just one rank above “junk” category, the onset of FDIs flowing into Indian start-ups seems reclusive and does not seem to recover anytime soon. So, the Income Tax Act, 1961 needs to reform from its very core to match up the economic challenges of the 21st century for Indian investors to keep the market afloat and its operations flared up. Time is money, and neither of that we do have. 

                                                                                                                             – Aanandita Singh