Economy ki kahani

May 17, 2020 So, today I’m going to talk about our economy, its been 5 days since our prime minister announced the biggest news for our economy, “the 20 lakh crore package” the day it was announced it was also said by the prime minister that the package will be explained completely, but our great public assumed every Indian will get a sum of Rs.16000 well lets leave this things apart. In the last 5 days our finance minister has announced various reforms or can be said the things that are included in that package, here we are going to talk about them and many more things stick with me for a while. Firstly I would say that the package has been trolled over WhatsApp and social media just because that doesn’t hand over money directly to the people, one of the announcement was The finance minister announced that from May 14 to March 31,2021 TDS and TCS rate has been reduced by 25%,This will release liquidity worth Rs 50,000 crore, well to be focused on that this wont give money directly in the hands of people this will reduce the money that will cut due to TDS. For the people who don’t know what is TDS, well TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. In simple language TDS is the money that government takes from employees before their pay checks reach them. So now this reform brings a big relief because now people will get more money in their pay checks for at least this financial year(April 2020-March 2021). Now the government also announced a cut in the PF and the EPF(Employee provident fund), for the people who don’t know this a fund that government handles that is a retirement benefit for the employees a small amount of their income is taken away in a fund and given back to them in pieces or in a lump -sum amount after their retirement. The cut here is off minor 2% first it was 12% now it has been reduced to 10% for PSU and this will be there for 3 months now it thought that what benefit will we get from 2% extra for 3 months but to be thought its always the little things matter a person having any amount of salary will be happy to get those 2% extra pay home and this is also for people saying government isn’t giving anything in our hands so now this is where government is giving in your hands so stop shouting on them because this isn’t the entire package. Here our economy is seen as a whole not as a micro thing so the figures that are realised are more or to be precise in thousand crores so that what makes people thing where is money going. Right now the Indian economy is going through recession a period in which the economic growth is slowed down and that has also made many companies fire their employees and have huge pay cuts, and because of this the government has also made the PSUs open for private players as of today. People in commerce stream under economics subject have read that government sell out government assets to drag the economy out of the recession period. Just to let everyone know economics is a subject that every person must be aware about because it is about money, it doesn’t matter if you are a science student, okay you might become a doctor ahead but after that what, you might open a clinic, that is self employment, might practice in a hospital well that is an employee case, or open a hospital of your own and hire doctors well that might be business or you might invest in stocks that an investor. All of this evolves around money and economics is a subject of money and that’s why I prefer that it should be read by all because at the end of the day money matters. Today the people are lacking financial knowledge and are unable to see the opportunities that the government is offering to public through various means, just have a look at this, the government has announced 3 lakh crore collateral-free loans for MSMEs, business with up to Rs.25 crore outstanding loan or up to Rs.100 crore turnover are eligible to this scheme, which is expected to benefit 45 lakh MSMEs(Micro, small and medium enterprise), this is for all the business that are sinking they have the best opportunity to recover and the new business to enter the market because if not now than NEVER. Lets talk about stock market, everyone knows about it but only few enter just because its too risky well you know what, all of you take a lot more risk every morning when you go out to buy groceries because the deadly virus is somewhere waiting for you but that’s not considered because its not about money, our life doesn’t hold any value right! There was stock market crash some days or weeks ago, for your knowing stock market crash is the best time to enter many casual investor were scared because of losing money but that was a time to use your brain and your financial knowledge to invest because there is always a time when the market goes down but it comes out of it and, so it was great opportunity but many people missed but they can still go in there is no right time, you make the time right by your knowledge. For instance there was a global stock market crash in 2008 and after having such a crash the market recover and it took time that’s pretty obvious but it did recovered. Downfall happens everywhere but that doesn’t mean that wont be up again it might be more better when its back up at its peak. Its nearly been 2 months of lockdown and it may continue for a month or more, well this is the best time to get financial knowledge because its as important as the knowledge you gain from school or can be said more important than it, in your life ahead you wont need to know how Akbar died to earn some cash baby, you need this knowledge, every person isn’t able to see the opportunities that are offered because if they would be able to see there wont be around 2300 billionaire in the world of more than 750 crore so I would request you all to get up from your asses and train your mind to see opportunity in every thing than only one can be a successful person in their life or according to me all you would do in your 60as and 70s will sit and blame the government for not doing anything for you, just because you had a blocked vision for seeing opportunities. Ending this on the note that blaming anyone for your misdoing wont get you anywhere so train yourself mentally and physically in this time rather than making fun of the government for offering you a box full of opportunities, I can bet after all this ends many people will emerge as a successful businessman just because they saw what others dint. It’s all about mindset the basic difference between rich and poor is their mindset rich have a growth mindset and unfortunately the poor don’t have that. -Akhilesh dua. Comments Powered by Blogger Report Abuse