How long can India ignore Bitcoin?

National News

In his 110 minute long address to the Parliament, one quote made by Indian Finance Minister Arun Jaitley on February 1st, during the Union Budget session made international headlines. A quote powerful enough to send markets tumbling.

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HIGHLIGHTS OF INDIAN BUDGET 2018

National News

WITH LESS THAN AN YEAR TO GO TO THE GENERAL ELECTIONS, FINANCE MINISTER ARUN JAITLEY PRESENTED HIS LAST FULL BUDGET IN THE LOWER HOUSE ON FEB 1ST. THE BUDGET WAS WIDELY SEEN AS A POPULIST ONE. FINANCE MINISTER PREDICTED 7.2% – 7.5% GROWTH RATE FOR SECOND HALF OF 2017-18. THE HIGHLIGHT OF THE SPEECH WAS THE INTRODUCTION OF NATIONAL HEALTH PROTECTION SCHEME AND THE RE-INTRODUCTION OF LONG TERM CAPITAL GAIN TAX, HERE ARE THE TAKEAWAYS FROM THE FINANCE MINISTER’S SPEECH:

AGRICULTURE SECTOR

agriculture 2

  • MINIMUM SUPPORT PRICE INCREASED TO 1.5 TIMES PRODUCTION COST
  • 470 APMCs CONNECTED TO eNAM NETWORK
  • Rs 2000 Cr CORPUS FOR AGRI-MARKET DEVELOPMENT FUND
  • CLUSTER-MODEL APPROACH FOR HORTICULTURAL PRODUCE
  • Rs 500 Cr FUNDING FOR OPERATION GREEN
  • NATIONAL BAMBOO MISSION RESTRUCTURED
  • Rs 10,000 CR FOR FISHERY AND AQUACULTURE INFRASTRUCTURE DEVELOPMENT FUND & ANIMAL HUSBANDRY INFRASTRUCTURE FUND
  • INSTITUTIONAL CREDIT FOR AGRICULTURE TO RS 11 LAKH CRORE FOR 2018-19
  • ALLOCATION FOR FOOD PROCESSING UNITS: Rs 1400 Cr
  • 42 MEGA FOOD PARKS TO BE SET UP

ELECTRICITY SECTOR

electricity

  • 8 CRORE FREE GAS CONNECTIONS TO WOMEN UNDER UJJWALA SCHEME
  • 4 CRORE ELECTRICITY CONNECTIONS TO THE POOR UNDER SAUBHAGYA YOJANA

INFRASTRUCTURE DEVELOPMENT

rise

  • RS 14.34 LAKH CR FOR RURAL INFRASTRUCTURE:
  • RISE – REVITALIZING INFRASTRUCTURE IN SCHOOL EDUCATION ALLOCATION OF 1 LAKH CRORE RUPEES
  • GOVT PLANS TO CONSTRUCT 2 CRORE MORE TOILETS

SOCIAL JUSTICE

st sc

  • EKLAVYA SCHOOLS FOR SCHEDULED TRIBE POPULATION
  • ‘EKALAVYA’ SCHOOL TO BE AT PAR WITH NAVODAYA VIDYALAS
  • ALLOCATION FOR SC WELFARE – RS. 56,619 CR
  • ALLOCATION FOR ST WELFARE- RS. 39,135 CR
  • NATIONAL LIVELIHOOD MISSION ALLOCATED RS. 5,750 CR

PROVIDENT FUND

  • GOVT. TO CONTRIBUTE 12% OF EPF CONTRIBUTION FOR NEW EMPLOYEES IN ALL SECTORS

HEALTHCARE SECTOR

health

  • Rs 1200 CR ALLOCATED TO HEALTH WELLNESS CENTRE
  • 600 cr FOR NUTRITIONAL SUPPORT OF TB PATIENTS
  • 24 NEW HOSPITALS TO BE SET UP
  • 1 MEDICAL COLLEGE PER 3 PARL CONSTITUENCIES
  • NATIONAL HEALTH PROTECTION SCHEME:
  1. WORLD’S LARGEST GOVT. FUNDED HEALTH PROGRAMME
  2. ANNUAL COVER OF RS. 5 LAKH
  3. TO COVER: 10 CRORE POOR FAMILIES

RAILWAYS

railways

  • CAPITAL EXPENDITURE: ₹1,48,528 crore
  • TRAINS TO HAVE WiFI, CCTV
  • 4267 UNMANNED RAILWAY CROSSING TO BE ELIMINATED
  • REDEVELOPMENT OF 600 MAJOR RAILWAY STATIONS
  • MUMBAI TRANSPORT SYSTEM TO EXPAND
  • SUBURBAN NETWORK FOR BENGALURU

DIGITAL INDIA

digital indi a

  • 5 LAKH WIFI HOTSPOTS TO BE SET UP IN RURAL AREAS
  • NITI AYOG TO FORM NATIONAL PROGRAMME FOR #ArtificialIntelligence
  • GOVERNMENT TO ELIMINATE USE OF CRYPTOCURRENCIES

COMMERCE

nlp

  • SINGLE ONLINE WINDOW TO LINK ALL STAKEHOLDERS UNDER NATIONAL
    LOGISTICS PORTAL

INSURANCE

  • GOVERNMENT INSURANCE COMPANIES TO BE MERGED INTO A SINGLE ENTITY

TAXES

  • TAXES
    12.6% GROWTH IN DIRECT TAXES IN 2017-18
  • 18.7% GROWTH IN INDIRECT TAXES IN 2017-18
  • REVISED FISCAL DEFICIT ESTIMATE FOR 2017-18 IS 3.5% OF GDP
  • FISCAL DEFICIT OF 3.3% EXPECTED FOR 2018-19
  • 100% TAX REBATE FOR FARMER PRODUCER COMPANIES HAVING A TURNOVER OF RS. 100 CR
  • COMPANIES WITH TURNOVER OF UPTO RS. 250 CR TO BE TAXED AT 25%
  • PERSONAL INCOME TAX RATES UNCHANGED
  • RS. 40K STANDARD DEDUCTION IN LIEU OF PRESENT EXEMPTION
  • LONG-TERM CAPITAL GAINS EXCEEDING RS. 1 LAKH TO BE TAXED AT THE RATE OF 10%
  • ALL SENIOR CITIZENS CAN CLAIM BENEFIT OF REDUCTION RS. 50,000/ YEAR
  • EDUCATION AND HEALTH CESS TO BE INCREASED FROM 3% TO 4%

What India Expects from Budget 2018

National News

Finance Minister Arun Jaitley is all set to present his last full budget tommorow in Parliament.

Here is a list of what India expects

Taxation

Raise in upper limit of income tax ceiling

Tax relief for senior citizens

Further reduction of taxes in GST

Exemption of taxation on essential commodities like sanitary napkin, medicines and food

Reduction in corporate tax rates & Minimum Alternative Tax

Remove tax on angel investors

Remove tax on digital services

Agriculture

Encourage micro-credit for farmers

Reduce waivers on fertilizers & allied products

Investment in micro-irrigation projects

Waive off loans on farmers

Invest in ‘in-situ’ processing units to reduce dependency on transport

Invest in cold storage plants

Banks

Revive banks with non-performing assests

Simplify procedures for insolvency

Incentives for digital monetary transactions

Encourage long term investments

Infrastructure

Increase investment into infrastructure projects

Increase investment in waterways

Focus on Railway Infrastructure & safety

Auto sector

Reduce import tax on raw material

Lower GST rates on electric vehicles

Real estate sector

single-window clearance for all real estate projects

Reduce taxes on under-construction projects

Focus on sustainable, cheap housing projects

Energy sector

Focus on clean energy sector

Provide incentives for alternate & clean fuel

Incentives for solar projects

Reduce cess on oil and gas exploration and production

Metals and mining sector

Decrease customs duty on coking coal

Decrease in export duty on iron ore

NewsCaravan Exclusive: KAMALA MILLS FIRE TRAGEDY

National News

Massive fire broke out in Kamala Mills Compound at 12:30am this morning (December 29). This Commercial hub houses several media firms, companies and restaurants.

The fire apparently broke out at ‘1 Above’ restaurant located in the Mill Compound and soon spread to Mojos, another restuarant which is close to ‘1 Above’.

Our reporters were present in the vicinity of the incident and and here are is a broadcast of what transpired that night.

This video was taken moments after the fire

VIDEO ONE

This video was taken just as the emergency services arrived

VIDEO 2

This video speaks of the importance of the Kamala Mills Compound

VIDEO 3

This video shows of how ambulances ferried injured to KEM hospital within moments of incident

VIDEO 4

This picture was taken at 5:30 am, the video was well controlled by then

This photo was taken at 3:30 pm from the site of the incident

World Wrap Up for December 9, 2017

World Affairs

TRUMP BACKS TAINTED SENATOR
US President Donald Trump urged voters to elect a Republican Senate candidate in Alabama who has been dogged by allegations of sexual misconduct, warning that America “cannot afford” to have a Democrat win the hard-fought campaign.

PALESTINIAN, ISRAELI FORCES CLASH IN BETHLEHEM
Palestinian protesters clashed with Israeli troops in the West Bank for the third day on Saturday following US President Donald Trump’s recognition of Jerusalem as Israel’s capital.
Protesters hurled stones at troops who responded using tear gas and other riot dispersal means.Trump’s declaration set off a wave of protests across the West Bank, the Gaza Strip and the wider Arab and Muslim world.

UN: 14 PEACEKEEPERS KILLED IN CONGO
Rebels attacked a United Nations peacekeeping base in eastern Congo, killing at least 14 peacekeepers and wounding 40 others in the worst violence against the mission in this Central African country in years. the peacekeepers were mainly from Tanzania, and that at least five Congolese soldiers also were killed in the assault blamed on one of the region’s deadliest rebel groups. …////

KIM JONG UN CLIMBS SNOW-COVERED MOUNT PAEKTU
North Korean leader Kim Jong Un has visited the top of the country’s tallest peak, Mount Paektu.
State television showed still images of Kim Jong Un walking across the snowy summit of the mountain with a group of officials.

Exclusive: Mining Baron Diary Stings AIADMK, Tamil Politics

National News

Tamil Nadu politics was jolted after entries into the diary of Mining baron Sekar Reddy emerged. The diary reveals several big names like the O pannerselvam and several others. Take a look at the names released and the amount paid.

P THANGAMANI
MINISTER FOR ELECTRICITY
Rs 50 LAKH

ADVOCATE SANGAMITRA
Rs 2 LAKH

KRISHNASWAMY MLA
Rs 5 LAKH

REVENUE MINISTER PSO
RS 25,000

MANNARGUDI MAHADEVAN
SASIKALA’S BROTHER
Rs 10 LAKH

CUDALORE COLLECTOR
RS 10 LAKH

ENVIRONMENT MINISTER SPA
Rs 2 LAKH

PERIYAVAR (OPS) RS 3.5 CR

OPS PA RAMESH
RS 3.7 LAKH

ADVOCATE FOR NOVEMBER
RS 3.7 LAKH

REVENUE MINISTER PSO PERUMAL
Rs 10,000

OPS RAMESH GARDEN EXPENSES
RS 20 LAKH

Note : Most of these transactions were made when Amma was hospitalized.

Kim Jong Un dares USA, Launches Missile

World Affairs

A week after United States designated North Korea as a state sponsor of terror, Kim Jong-Un dared Uncle Sam and fired a ballistic missile into Japan sea.

South Korea’s army confirmed that the missile was fired from an area north of Pyongyang.

The trajectory of the missile is unknown and the US and South Korea are investigating into this.

The launch is the second intermediate ballistic missile launched by North Korea in the recent past.

TRUMP: WE WILL TAKE CARE OF IT

US President Donald Trump spoke minutes after the launched, however his response seem measured. He simply said “We will take care of it. It is a situation that we will handle”

MISSILE LANDS IN JAPAN SEA, NO DAMAGE REPORTED

North Korea confirmed that it had ‘successfully launched: a new type of ICBM called the Hwasong 15. However no damage was reported from this missile that was launched from the western coast of North Korea .

UN AMBASSADORS CONDEMN NKOREA MISSILE
UN ambassadors from Japan, Italy and the United Kingdom slammed North Korea over it’s intercontinental ballistic missile.

U.N. Security Council President said that he was in contact with key U.N. members after this development.

Meanwhile Japanese Prime Minister Shinzo Abe added that his country would no longer tolerate the actions of North Korea and pressed for sanctions against the rogue nation.

This is the second ICBM launch by North Korea in less than 10 weeks, is the country, backed by the China seems to be getting more emboldened. Will the world let the Maverick dictator continue to set terms, or will the UNSC and Atlantic Countries stop this nuclear war drama?

Blog by Isheeta Bali

Why Global Entrepreneurship Summit in Hyderabad is just a PR exercise

National News

Beggars were removed. Walls were cleaned up. A city was spruced up. But have you wondered why India, Telangana and US were in an overdrive mode for Global Entrepreneurship Summit?

Telangana pips Andhra:

For Telangana, one of India’s youngest state, this summit was a victory in the battle of ego. KCR toiled hard to ensure the event was held in Hyderabad, ensuring a victory over rival/neighbouring/sister state of Andhra Pradesh.

Modi’s diplomatic charm offensive:

This summit will benefit Prime Minister Narendra Modi in many ways. Not only will this bolster his image across the globe as a World Leader but will also attract his most hardcore fans- the NRIs. PM Modi is pro-capitalist and what better way to attract entrepreneurs than a summit?

PR exercise for Ivanka?

At W20 summit earlier this year Ivanka was booed. A major embarrassment for the young lady who aims to be her father’s political inheritor. Global Entrepreneurship Summit is her first major solo venture as the Advisor to White House. Many believe that she could be the First Woman President America has been waiting for. The theme of this summit is woman empowerment : a clear alignment with her political strategy.

But can Ivanka really change the tide? Can this summit propel her image as a female crusader of change? Only history can be a better judge of that. But if Ivanka seeks a long-standing political career, she will have to outshine her eccentric father and her prodigal husband.

Image courtesy Twitter

Blog by Isheeta Bali

When Harry Met Meghan

Entertainment, World Affairs

Sorry ladies, time to grab those tissues, because Prince Harry is taken! Yes and this time it’s official!

Image courtesy: popsugar

Prince Harry is all set to walk the aisle with television star Meghan Markle. The announcement was made on Twitter by his father Prince of Wales Charles.

The announcement says the couple had been engaged earlier this month (November 2017) and would marry in spring 2018.

Changing Times for Royals:

Just like his older brother, Prince William, Harry is not marrying an aristocrat. He is marrying a commoner too, but this marriage is unique in more ways. Meghan is not just a commoner. She is a US citizen who was previously married but divorced after 2 years of marriage. She is half-black, also making her the first person of colour to join the royal family. While the world is rooting for Meghan, Brits are not so excited over this as they think Meghan is too ‘over exposed’ due to her stint as an actress and doubt if this marriage would last. Prince Harry has had a long list of girlfriends and was known as a wild party child. His commitment phobia haunted his exes. But either way the couple are expected to breathe of fresh air into the losing charm of the Royals. People are bored of plain- jane Kate and hopefully Meghan will spice things up for the Clarence House!

Blog by Isheeta Bali

Health Care Alert: Doctors Redefine Blood Pressure

Health Care

Medical health fraternities around the world conduct several seminars all through the year.

In Anaheim at California, American Health Association, hosted its Annual Scientific Sessions. But this was no ordinary session.

Reason? This gathering was when the health fraternity changed the guidelines of Hypertension. It was a watershed moment in the medical history as 140/90 mm Hg was no longer high blood pressure.
WHAT ARE THE NEW READINGS?

Note : read the following data as: Blood Pressure Type/Systolic Blood Pressure/Diastolic Blood Pressure both measured in mm Hg

1) DESIRED RANGE: lower than 120/80 mm Hg

2) ELEVATED: 120-129/<80 mm Hg

3) STAGE 1 HYPERTENSION 120-129 /80-89 mm Hg

4) STAGE 2 HYPERTENSION: 130-139/80-89 mm Hg

5) CRISIS: >180/>120 mm Hg

Note: no reading on Hypotension or Low Blood Pressure issued

How is BP measured?

Human blood flows in veins and arteries. Blood flows under pressure due to pumping of blood by the cardiac (heart) muscles.

For diagnostic purpose, the pressure exerted by blood while flowing through arteries is of significance. This pressure is recorded with the help of Sphygmomanometer.

The upper reading is the systolic pressure, the pressure exerted on arteries when the heart is beating and diastolic pressure, the pressure exerted on arteries while heart rests between each beat.

WHAT WERE THE OLD READINGS?

Note : read the following data as: Blood Pressure Type/ Systolic Blood Pressure (mm Hg) / Diastolic Blood Pressure (mm Hg)

1) Low Blood Pressure : < 100 /< 60 mm Hg

2) Desired Range (normal / Physiological range): 100-120/ 80 mm Hg

3) Pre-hypertension: 120-139 80-89 mm Hg

4) Stage 1 Hypertension : 140-159 90-99 mm Hg

5) Stage 2 Hypertension: 160-179 100-109 mm Hg

6) Hypertensive urgency : > 180 > 110 mm Hg

WHY IS THIS IMPORTANT?

This change in rating marks a huge paradigm shift for health care sector. Now one of every two American is hypertensive. This is especially worrying for First World Countries as it adds an additional burden on the health care sector. In several developing economies such as India, Health care workers, will now not just have to work towards eliminating epidemics, they will also have ensure the rise in sedentary lifestyle diseases are curbed .

It also highlights changes in health parameters through the years, while 130/85 was normal a decade earlier , but today it is high. Meaning we may have to change our lifestyle soon.

Apart from the parameters, changes have also been towards the prescribing methods.

Earlier medication could be prescribed if a person had Stage 1 hypertension (140-159 over 90-99 mm Hg), but now medication can be prescribed for a Stage 1 hypertension patient (120-129 over 80-89 mm Hg) if ‘a patient has already had a cardiovascular event such as a heart attack or stroke, or is at high risk of a heart attack or stroke based on age, the presence of diabetes mellitus, chronic kidney disease or calculation of atherosclerotic risk’.

Doctors are also expected to recognise the need for multiple medications and treatment modalities including the usage of combination drugs.

Blog by Isheeta Bali