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Dear Readers,

Independence Day & Addiction: We have celebrated the Independence of Bharat Mata on August 15 with our pledge to stand for the virtues and values of Bharat Mata. The Constitution of India has enshrined the principle of a welfare state. What sort of welfare is happening when the basic health of the people, the core principles of nation-building is ignored by promoting the sale of alcohol and opening new shops and centres for its sale? We pay homage to Gandhiji (Bapu), but we do not follow his message of banning the production and sale of alcohol. Some states, namely, Gujarat, Nagaland, Manipur, Bihar, and Lakshadweep have prohibited alcohol. Kerala is also moving towards it in a phased manner. In Bihar about 1,41,000 persons are in jail on account of the violation of prohibition of alcohol.

The Supreme Court has banned the sale of liquor within 500 meters of highway. There have been fatal accidents due to the consumption of alcohol. However, shops are being opened even near educational institutions. The attention of the honorable, concerned Supreme Court is drawn to this fact also. Some people argue that the ban on alcohol production and sales will promote the illegal production and distribution. But when it is freely available then people are affected more, even the young children are becoming addicted to it. There have been reports that after the consumption of alcohol one gets the tendency towards violence against women. Men can acquire alcohol through the illegal trade channels that route drugs too. If it is so then why not make the narcotic drugs freely available. Then no need of having the Directorate of Narcotics.

Consumption of alcohol is increasing on an average of 8.9% annually in the past six years. The estimated amount is $22 billion (Rs. 1.46 trillion) in 2016. India is the third largest liquor market in the world with an overall retail market size of $35 billion per annum. Alcohol consumption in India has risen by 55% over a period of 20 years from 1992 to 2012. Is this independence?

Alcohol control: Worldwide, 3.3 million people are dying every year due to harmful use of alcohol, representing 5.9% of all death. People are at risk of developing more than 200 diseases including liver cirrhosis and cancer, trauma, violence, organ system damage, unsafe sexual practices, premature death, poor nutrition are many problems with addiction. Brain degeneration, irritation, negative approach to work, fall and miseries/poverty of families are results of addiction. The worrisome problem of addiction is violence against woman even minor girls. Addiction-induced unemployment and lethargy take a toll on the GDP as well.

There is no uniform law related to the permissible age for drinking alcohol. It varies from state to state. It is also not being enforced. More and more teens-both boys and girls are becoming victims of addiction of alcohol/drugs.

Alcohol is a scourge. It brings imbalance and disaster in human life. Paramhansa Yogananda said, “liquor increases man’s desire for money and sex and it is, therefore, the worst evil.” All religions have proscribed and condemned the consumption of alcohol.  In ignorance, one may say that demi-gods in Hindu mythology have been drinking Sura (a type of juice), which is actually Soma Rasa consumed for energy. Many times they had also fallen from their home. Lord Shiva is known to take a little quantity of hemp, but that is essentially for reasons like combating the cold effect of Ganga flowing from his head and for countering the chilly-frosty climate of Kailash Parvat.

India is the largest buyer of whisky in the world. The government should stop drainage of the forex. It should impose GST of 50% as sin tax, if it fears to ban production and consumption of liquor in the country.

Bharat is the land of lord Rama, Lord Krishna, Lord Buddha, Lord Mahabir, Gandhi (Bapu) and many saints. Health is the prime factor for the growth of the Nation. Body is the temple of God. We are children of God, the mortal manifestation of His divine image. When we indulge in addiction, our father, our God, is pained.

Indian Economy: To deal with inflation arising from volatile crude oil prices, a revision in the minimum support price (MSP) of kharif crops and hardening input costs, the Reserve Bank of India (RBI) hiked the Repo Rate by 25 basis points to 6.50%. Banks are now expected to nudge up their deposits and lending rates. As it appears, this will affect investments, which are almost negligible in private sectors. Inflation target of 4% is reiterated by the Governor of RBI. However, hike in the rate will certainly lead to inflation instead of curbing it, as the cost of production will increase. The RBI may further hike the rate in October 18. Almost 80% of the population’s expenses are largely on food which prices have gone up due to increase in MSP.

The nation must acknowledge the role of industrialists, businessmen, promoters, small, medium and big enterprises in growth of the economy and job creation. It is not good to stigmatize capital. India needs to develop pro- arket system with prompt action, modification, and change in policy decision in a fair way.

As reported, stressed assets and non-performing assets are often not due to the fault of promoters, but due to external and internal factors beyond the control of promoters.

After imposing minimum tariff prices and dumping duties on import of steel products, the sinking steel sector has started revi-ving and making profit since the third quarter of 2017. The global trade war by the USA started with imposing high tariff on the import of steel products from China, Korea, Japan, Taiwan and other countries who have been now dumping steel products in India despite competitive tariffs and dumping duties. Thus, the steel sector in India is in the red.

According to the RBI’s survey report, 48.2% believe that economic conditions will improve in the coming twelve months. The RBI is bullish on growth rate. The International Monetary Fund (IMF) compared the $2.6 trillion Indian economy to an elephant that is starting to run with structural reforms. In 1893 Swami Vivekanand said India is a sleeping dragon. When it rises and moves, no power can stop it. India’s contributions to global growth is 15%. Its economy has helped to lift millions out of poverty. The IMF expects the Indian economy to grow 7.3% in the current year and 7.5% in FY 2020. But its per capita income of $2000 is still way below that of other large emerging economies. The 15% contribution to the global economy by 1.3 billion population is too little. The IMF says that India needs to simplify the Goods and Services Tax (GST), cut debts, increase exports and productivity, restrain fiscal deficit, and boost savings and investment.

The government will shortly announce new industrial policy focusing on three pillars- competitiveness, sustainability and inclusion. It considers that the cost of doing business has to come down. India’s industrial sector contributes 29% to the GDP of the country, which is 44% in China. The RBI should lower interest rates for investment and different economic situations all over the country. Higher rate of interest would not restrain inflation rather increase it. Higher rate of interest will also increase the cost of production. It makes products less competitive in the global market.

The government has doubled the import duty on 300 textiles products imported from China to save indigenous industry and boost exports. Other industries, especially MSMEs are suffering losses due to cheap products from China and other countries. Government’s urgent actions are needed for the survival of our industries.

Stock Market: Mutual Funds have been awash with funds. Indian savers have been pouring money into MFs. They have invested Rs. 73904 crore of stocks till the last week of July 2018. FPIs sold net Rs. 4167 crore of stocks. 68% of the MFs holding is in large cap stocks. About 18% of the investment is in mid cap stock. MFs have invested in about 1000 stocks. They will continue to invest irrespective of the market condition. Although the stock market is scaling new peaks, the gains have been restricted to mostly a few premium stocks. More stocks need to be in the market to mop up incremental liquidity/saving. The SEBI should approve IPO within a reasonable time of month so that more private investment, which is at present negligible, can be available.

If the Fed changes the rate of interest, the FIIs will probably withdraw investment from the equity and debt markets. FIIs are selling while existing domestic institutional investors in the form of mutual funds, pension funds and insurance funds are investing. Market volatility will be more in 2018 compared to 2017.

Indian Prime Minister, Narendra Modi had banned the production and sale of alcohol while he was the Chief Minister of Gujarat. As the Prime Minister, he has taken many bold decisions like demonetisation, GST and triple Talaq. May Bharat Mata bless him to ban the production, sale and import of alcohol to save especially the women and the youth and scarce forex. He should not worry about vote bank. God conspires to support those who work for the cause of humanity.