October , 2017
17:13 pm

Dr. H. P. Kanoria

Dear Reader,

India-Bharat is celebrating the worship of Lord Ganesha and Mother Lakshmi. Lord Ganesha is worshipped and remembered before the start of a new business to remove obstacles and help it to succeed. Lord Ganesha is the favourite son of Lord Shiva and Mother Uma. He was blessed to be worshipped ‘pratham’, first among all gods and goddesses as he had done ‘parikrama’ of his parents considering them as the entire universe. He is the remover of obstacles, who grants success, inner peace, wealth and happiness. He represents humility, as he has as his charioteer a small rat, though he himself is bulky, whereas his mother has a lion, his father Lord Shiva has a bull, and his brother Kartika has a peacock as their charioteer. What a unity in diversity! Due to the blessings of his parents, Lord Ganesha has all virtues. His father Lord Shiva had worshipped him before marching to kill a giant. Mother Lakshmi is the primordial cause of creation. She resides in all beings in the form of good fortune. She is the supreme energy of the cosmos, mother of the universe, the source of great abundance and she grants inner and outer aspiration. Her devotees do not have anger, jealousy, greed, or evil intentions. She gives wealth, prosperity, and happiness to those who worship her with a pure heart, live in simplicity and austerity, and work with devotion for generating wealth for the welfare of humanity and nature. Purchasing ornaments, clothes, and utensils is considered to be auspicious. Distribution of clothes and food among the poor bring blessings and boon. Mother of universe, Lakshmi is for all beings irrespective of castes and religion. Lakhsmi and Ganesha are worshipped globally.

Shopping online with fabulous discounts is becoming popular despite people who like to shop with their family for the pleasure of togetherness and to feel the products before purchasing.

Purchase of jewellery is treated as an investment, saving for marriage of a daughter and happiness of women. This is a form of saving for their future safety. It encourages many to save in the form of jewellery instead of indulging in wasteful expenses. This month of Muharram is the first month of the Islamic calendar. It is regarded as the second holiest month following Ramadan.

On October 2, the birthday of Bapu Mahatma Gandhi is being celebrated. He was an emissary of peace, truthfulness, and social justice. He spoke about the upliftment of the marginalised sections of the society, of the poor, and of women. On his birthday, we reiterate our commitment to observe the high ideals and teachings of Gandhiji.

In BE’s previous cover story ‛Revive real estate for growth and employment’, we had suggested certain measures to improve the sector.

Indian Finance Minister Arun Jaitley is now focusing on stimulus packages of ` 40,000-50,000 crore to create jobs by also accelerating affordable housing sector. Necessary moves will be taken after consulting the Prime Minister.Private participation in low cost housing has got consent of the central government. On private lands, there is central assistance of
Rs. 2.5 lakh per house as interest subsidy on bank loans. Banks’ dilution of capital, disinvestment, higher borrowings etc. will be actively considered. RS. 1.5 lakh assistance will be provided if bank loan is not taken. The country’s economic growth, which slipped to a three year low of 5.7% in April- June will recover slowly. Current Account Deficit (CAD) rose sharply to 2.4% of GDP at the end of first quarter of 2017-2018 led by increased trade deficit. A higher percent CAD impacts investors’ sentiment and affects FDI. The country has $400 billion in foreign reserves. As such, there is no need to panic. The Economic Survey for 2016-17 has also retained its prediction of GDP growth in 2017-18 between 6.75 and 7.5%. Credit to industry is still contracting. Due to digitisation, banks have retrenched more 15,000 employees. J.P. Morgan Chase’s Chairman and Chief Executive Jamie Timon is of the view that India is growing faster than any other country on the planet.

The stock market is being governed by bulls. Bears give shock at times. Many stocks are overvalued. There is underutilized capacity in almost all sectors. An economist says that it is difficult to predict when the market will be overcome by bears as politically and economically there are many issues.

May Lord Ganesha remove obstacles to the path of inclusive and sustainable growth of the Nation and may Mother Lakshmi bless the Nation with wisdom, peace, truthfulness and abundance. May the Festival of Lights usher in peace and prosperity. Happy Diwali.

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