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2 Impact of GST on Common man-- 1 In order to mitigate the hassle of different taxes implied on a product govt of India has tried to put them all under one blanket and named it as Goods and Service tax Bill -the GST. This is a step forward to make the tax collection system easy and understandable for a common man. Until now the tax collection system in india is considered as a burdensome hefty thing and nobody from common man knows the exact system. To overcome this drawback and easy the system a one single common tax system is to be imposed. This itself is a very hectic and burdensome process of converting the whole system of cobweb into a simplified system but it should be appreciated that government has tried to solve this cobweb for its citizens. However it is better said than done. The process involve a whole lot of scruiting at every level. Government has came over a point of balance for the GST rate to be 18% +-1% for every state which seems fair so far. Also the government has promised to beer any losses of state for 5 years from its implimentation in the state. Also govt has ensured other risky-areas for states for easy acceptance of the bill. However the common rate of tax itself is being questioned by experts. As its unfair for a less developed state to collect the same amount of tax as that of more developed state. Critics say that this will help develop the industry-friendly states more rapidly than the other ones which should be avoided. As a duty govt should ensure development of each state fairly. Also the irregular availability of land and labour increases the concern of single tax system. Pondering upon the barriers it has in its path, the way of GST doesn't seems to be a smooth ride however to come upto this stage of consent in itself shale be considered as an achievement for the bill. What comes next should be examined carefully but whatever may come its believed that it will comfort the common man. Bankersway.com Page 2

3 Impact of GST on Common man 2 GST stands for Goods and Services Tax. It is an indirect which will replace all other indirect taxes that is levied in India, e.g VAT, service tax, custom duty, entertainment tax etc. This will come into affect from 1st April From then, only a single indirect tax will be levied on everything be it goods or services. It is estimated that the rate of tax will be somewhere between 18% to 22%. The question here arises whether this change brings any benefit for common man. It has been discussed as below: Advantages: i The main drawback of our tax structure is its cascading affect which subjects the prices of essential commodities to skyrocket. With the introduction of single tax the cascading effect of taxes will be go extinct. And this will lead to lower the prices. ii It will eliminate the confusion between the rate of tax on goods and that of services. Now, the tax rate on goods is between 27%-32% and on services it is 15%. So, introducing a uniform rate for all indirect taxes will abolish this confusion. iii While doing trade the merchants face oodles of difficulties as the VAT rate varies from state to state. And this creates variation in their cost prices. Remarkably this change is absolutely going to help them to very extent. Disadvantage: i The prices of services like, DTH recharge, foods in restaurants, parlour etc will go up as only a uniform tax will be applied on everything, so rate of tax will definitely be higher than that of current service tax. It is a major step taken by the Indian government for the welfare of common man. But it will proved to be fruitful only when the further steps are taken in a very organised manner. Bankersway.com Page 3

4 Role of media in a democracy--1 India is a democratic country where power is in hands of people. People take the decision and have the voting power to choose the persons who will the decision on their behalf. Media play a very important role in our country or in some other. Media provide the real condition of the states and the country to the people. Media personnel work tirelessly and provide the real picture of any situation. They provide every single information to us from the remote areas also like we can see in case of uri attack in Jammu and Kashmir. Media provide every single detail of the incident and provided us real time picture of the condition there. This is because of democracy of our nation. In some countries like china the govt do not allow to cover the story like our nation does. In addition, media provide us the knowledge about the happenings in the world, politics, social issues etc. It gives us the power to raise our voices on any issue by giving us the platform. Due to the advancement in recent years the media has become so powerful and have a great effect on the society. But as we all know everything has pros and cons. Media sometimes become irritating too. Media prevent the privacy of people. It peeks out in the life of people without their consent or knowledge. Sometimes they misuse the powers and shows the news in a misleading way too. So there is a need to regulate it in some ways where it is needed. But all in all we are all benefited by the media in one way or the other. Bankersway.com Page 4

5 Role of media in a democracy--2 Democracy is commonly known as government of the people, by the people, for the people. Both Democracy as well as the freedom walks hand in hand. Like a fish to water, democracy can only exist in the atmosphere of freedom of action, which is what media has been doing in today's society. Media is very powerful tool that a democratic country can have. It has the ability to build or break the opinion of the people and swing or evoke emotions of the people.. It acts as an interface between a democratic government and its people. Media through its various means of cinema, newspaper or TV has ruled the hearts and minds of the people. It has also made a great impact in our life through various advertisements of government schemes. For example, take any government campaign like Polio, Girl education and the recently successful Swatch Bharat Abhiyaan, it has made a great impact on our changing minds and betterment of our society. Not only this it has even raised issues like child birth control, sexual harassment, domestic violence etc. which at one point of time were considered as strictly private matters. It is only through media that politicians and criminals involved in lethal politics and corruptions are brought in light so that stringent actions can be take against them. Because of media, the bravery of our soldiers don't go unnoticed to our society. However it also plays negative roles too. The unnecessary exposure by media has an adverse effect on society which they should restrained as much as they can. So, media in a democratic society has gained the most important support i.e FAITH OF THE PEOPLE. Bankersway.com Page 5

6 Is India satisfied with the performance in Rio Olympics-1 The 31st edition of MAHAKUMBH of sports held in Rio Brazil. Olympic which happens once in every four years is an event where all the nations take part in a common plate form to show their commitment towards sports. This Olympic would be a nightmare for Indian Sports as this year India Sent the highest ever contingent of 117 players to take part in the festival of games, Also Expectation was much higher this year because Indian sports persons performed well in the Last 2012 London Olympics where they won 6 medals which were highest ever in any Olympics so far. But this year the dismal performance of just two medals brought many questions with it. Albeit there was some hard luck also this year as many medal prospects missed the bulls eye with the very narrow margin of error. Also the first 13 days were the medal less it was the Sindhu and Sakshi who saved the honour of the country by their good performance. Definitely No country will be satisfied with such a dismal performance. A question Which is in everyone's mind also the pertinent one Question is "Why The country with second Largest population is not even able to secure double digit medals?". The Answer lies in a question " How much Indians give importance to sports?. The reason is very simple, the sport comes in our to list at last place. Indian government schools which cater the majority of the students in Rural areas and remote places are still facing the availability of staff, Having a sports teacher is just a dream for them. Also our government does not seem serious as they organize sport events for a formality. The future is abysmal for an sportsperson that's why many of good prospects leave it and choose other career option. And the one who continues it just play for securing a government level job without much zeal. Also there are many other answers which this Olympic has given to India. AS taking cue to the situation the present government is trying to do its bit as It has formed a task force to look at the three upcoming Olympics 2020,2024 and This seems to be a nice step on the paper but to make it a reality government needs to work hard by increasing public spending towards sports and by improving Infrastructure. Also India should take lessons from our neighbour China and many small countries which performs well despite being very below in terms of GDP. Bankersway.com Page 6

7 Is India satisfied with the performance in Rio Olympics-2 This year the Olympics were organised in Rio-De-Janeiro with the slogan "a new world", and with this new world a new hope was also there when India sent one of the largest contingent ever, of 117 athletes. It was 40% more than that of the number sent during London Olympics 2012.So it was expected that our athletes would win more medals compared to that of last time. But nothing such happened and we stood at 67th position in medal tally. Despite being second most populous and with the largest contingent ever India's performance at Olympics was hard hitting. Forget comparison with the top notch winners like USA and China, impoverished countries like North Korea and Kenya fared better than us. This brings out the mismanagement of the money sanctioned for sports and the sports associations. And biased support of cricket still prevalent in few sections of the society is also responsible for it. Nobody understands that athletics too can become promising and well paid career. Both financial and moral support are needed badly while preparation which are absent for Indian athletes. Along with that ignorance of the sports culture and attitude in our society is responsible for this failure. People still don't believe that sports can be taken as a serious career. All these bundled up together act as demotivating agent for the budding athletes. China, once stood where we are standing today, but its government made some sincere efforts and the result is before us. Since we have hoped for "a new world" a lot can still be changed. Bright career prospects should be offered to the budding athletes such that their parents are assured that their child has committed no mistake in choosing sports as a career and besides cricket athletics can be a serious career. Money sanctioned for sports should be used judiciously. A Nelly formed task force for the next Olympics by the Government raises our hope, But until things are done at personal and ground level nothing can be achieved. Bankersway.com Page 7

8 Role of RBI in controlling the inflation RBI is the central bank of India that execute certain functions such as overseeing monetary policy, issuing currency, managing foreign reserve, working as a bank of Government and as banker of Scheduled Commercial Bank. It also works for overall economic growth of India.Reserve Bank Of India was established in 1935 with the provision of RBI Act of India,1934. Though privately owned initially. it was nationalized on 1949 and since then fully owned by Government of India. RBI is the apex body to control inflation in India in accordance with the monetary authority. Monetary authority refers to the instruments under RBI control to regulate availability, cost and use of money and credit, thus keeping inflation or deflation low or stable. Inflation is supply of excess money relative to goods and services produced,resulting in increased price. It can be measured as the percentage of change of a price index. Inflation in India is also a grave issue of concern, given the vast disparity between the rich and the poor on the one hand or the Rural and the Urban on the other. Skyrocketing inflation robs the poor, and hurts others, though much less grievously. The fruits of the muchtalked about economic growth have not reached large sections, especially in the rural areas. It may be instructive to remember that inflation is not an overnight phenomenon. It is benign to the extent that it allows time to prevent it. In India, the onus to control and take control of the situation of inflation is upon the Reserve Bank of India. To combat inflation, steps generally taken by the RBI include a rise in repo rates (the rates at which banks borrow from the RBI), a rise in Cash Reserve Ratio and a reduction in rate of interest on cash deposited by banks with RBI. The signals are intended to spur banks to raise lending rates and to reduce the amount of credit disbursed. The RBI's measures are expected to suck out a substantial sum from the banks. In effect, while the economy is booming and the credit needs grow, the central bank is tightening the availability of credit. The RBI also buys dollars from banks and exporters, partly to prevent the dollars from flooding the market and depressing the dollar indirectly raising the rupee. In other words, the central bank's interactions have a desirable objective to keep the rupee devalued which will make India's exports more competitive, at the same time, increase liquidity. Bankersway.com Page 8

9 As inflation is inimical to growth, it becomes necessary for monetary policy to respond to contain inflation and anchor inflationary expectations. It should be done in a systematic manner with the objective to bring down inflation to 3.0 per cent consistent with India's broader integration into the global economy. Women Empowerment The most famous saying said by the Pandit Jawaharlal Nehru is To awaken the people, it is the women who must be awakened. Once she is on the move, the family moves, the village moves, the nation moves. In India, to empower the women, first it needs to kill all the demons killing women s rights and values in the society such as dowry system, illiteracy, sexual harassment, inequality, female infanticide, domestic violence against women, rape, prostitution, illegal trafficking and other issues. Gender discrimination in the nation brings cultural, social, economic and educational differences which push country back. The most effective remedy to kill such devils is making women empowered by ensuring the Right to Equality mentioned in the Constitution of India. Giving priority to the gender equality facilitates women empowerment all over the country. To get the high level goal of women empowerment, it should be promoted from the childhood in each and every family. It needs women to be strong physically, mentally and socially. Since the better education can be started at home from childhood, the upliftment of women needs healthy family to bring a holistic development of the nation. Still in many backward areas, there is a trend of early marriage and childbirth because of the poverty, insecurity and illiteracy of the parents. In order to empower women, various steps have been taken by the government to prevent violence, social separation, gender discrimination and abuse against women. 108 th Constitutional Amendment Bill (also called Women s Reservation Bill) was passed to reserve one-third of the seats for women only in the Lok Sabha to make them actively involved in every area. In other fields also the seats for Bankersway.com Page 9

10 women have been reserved for their active participation without any limitation and competition. Various mass campaigns need to be organized in the backward rural areas to make them aware about the real values of women and all the facilities available by the government for their bright future. They need to be promoted for the survival and proper education of female child to really bring the dream of women empowerment come true. Power by bankerspoint.org Bankersway.com Page 10