Monday

29


April , 2019
Editorial
15:15 pm

Dr. H. P. Kanoria


Dear Readers,

Climate change: Climate change resulting from global warming is a global challenge. Planet is warming up at a faster pace than desired. Industrial revolution was the turning point for climate change. Increased anthropogenic activities such as industrialisation, urbanisation, deforestation, changing land use pattern in agriculture, exploding resource uses, increasing consumption of electricity and water, heaps of garbages emitting poisonous gases, mindless dumping of wastage in rivers and oceans, rampant filling up of urban bodies to build real estate and infrastructures, have all been greatly contributing to global warming.

The world has pledged to work to limit the rise to 2 degree centigrade, a step that will require a radical reduction in the use of natural resources and to change of life patterns.

It affects the biological, the physical systems of human beings and all living beings. It causes glacial regression and snow melting resulting in sea level rise and extreme natural phenomenon like floods, droughts, lower agricultural production, diseases, decrease productivity etc. According to WHO (World Health Organisation) climate change will affect the social and environmental determinants of health – clean air, safe drinking water, sufficient food and secure shelter; thereby causing a huge health hazard.

Globally people, leaders and authorities need to take various measures urgently. Some of these measures are:

l Wise use/consumption of natural resources and other resources – it essentially means to consumerism.

l Improvement in forecasting and early warning systems.

l Establishing hazards and vulnerability mapping.

l Augmenting public awareness.

l Creating community based forest management and afforestation.

l Improving irrigation and flood management.

l Rainwater harvesting.

l Recycling used water.

l Preservation of water sources and water bodies.

l Plantation of trees everywhere and specially on the banks of rivers to stop soil erosion.

l Removal and recycling of garbage which causes methylene which otherwise emit Methane gas injurious to health. This will create new employment in urban, semi-urban, rural areas.

l Use of insoluble materials only on restricted items, not for general like food, vegetables, flower bouquets, etc.

l Dried and old calves should be pet in forest which will also become fertile.

l Ban use of coal by hawkers on streets.

l Recycle of insoluble materials – each municipal corporation and municipality, panchayats should manage recycle of garbage by putting plants.

Indian Economy: Muted government spending and high election related spending have created a liquidity deficit of ` 70,000.00 crore in the banking system. It may cross ` 1 lakh crore by end of April 2019. However, all coloured money which are being spent for election by all parties will boost consumerism mainly on insoluble materials used for elections and some portions for personal savings. Industrialists/businessmen/traders/professionals  are made to spend on elections even if that means straining their business.

Due to higher imports despite record exports, trade deficit has increased. It is USD 176.4 billion in 2018-19 against USD 162.1 billion in 2017-18.

Government is planning to allow a stressed firm to prepare a financial reorganisation plan with the approval of at least two-thirds of the creditors before the filling of an insolvency application by any party at the NCLT. Time stipulation of 180 days may be extended by 90 days for resolution to complete after admission of a case by NCLT. Government may also allow the mediation in the process of IBC.

Prime Minister Modiji’s vision was to have “Light for all – No darkness.” But despite all policy and efforts by his government, it is not happening. Huge additions in the generation capacity in both thermal and renewable power have taken place. India is among the top five countries in terms of installed capacity. However, India’s per capita consumption of power remains quite low. More than one lakh MW capacity remains unutilised. Cost of power to consumers, other than free power supply, is very costly. It is more than double at which private sector can supply. Inefficiency of public sectors in distribution causes the high cost to consumers.

Coal accounts for nearly 60% of our total electricity generation, but coal supply has been an area of concern for the power sector. Bharat has large reserves of coal. It can meet all requirements of the Nation. There is no need to import. But Coal India is unable to effectively raise supply in coals. India is blessed with coal reserves 315 billion tonne of which 143 billion tonne are proved reserves, but it is unfortunate that for meeting an annual demand of around 825 million tonne, we end up importing nearly 200 million tonne of coal annually. Trapped in primitive methods of mining, our coal production remains sub-optimal. It is an artificial scarcity that is hurting the economy.

The average stock of 127 thermal plants is for 10-20 days. Proper coal mining and supply can lead to employment of about five million people. It can save scarce foreign exchange wasted on coal exports.

Stock Market: Market will remain volatile in view of rising crude price and election outcome. However, benchmark stocks have risen unexpectedly. Manufacturing industries have shown poor results.

Bharatwasis, along with their global brothers and sisters, should rise to control climate change and global warming realising well that these cause approximately 25% of global disease and mortality resulting in around 9 million deaths in 2015 alone.

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