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Dear readers,

Wish you all Merry Christmas and Happy New Year. May God bless all with humanity, peace, harmony, unity in diversity, righteousness, integrity, truthfulness, compassion, empathy, austerity and simplicity, prosperity and good health and happiness. May God give all the power to work hard righteously, fearlessly and selflessly with love, faith and devotion for all.

13th World Confluence of Humanity, Power and Spirituality is being held on 18th and 19th December through virtual platform. The speakers are Sister Shivani, Motivational Speaker Brahmakumari, ShriKamlesh Patel, Spiritual Leader, Author (Heartfulness), Shiv Khera, International Motivational Speaker, H.E. Rosalia Arteaga, Former President of Ecuador, Anuradha Paudwal, Renowned Singer, Rev. Pravrajika Divyanandaprana Mata ji, Principal, NiveditaVidya Mandir & Editor, Samvit, Swami Nigamananda GiriJi, Senior Monk, Yogoda Satsanga Society of India, Ranchi, Venerable Bhikkhu Sanghasena, Founder of Mahabodhi International Meditation Centre, Leh, Ladakh, Bishop Lord Richard Harries, Former Bishop of Oxford, Ashish Vidyarthi, Actor & Motivational Speaker, Dr. Kavita Gupta, IAS, Pierre Ravan, Spiritual Musical Artist, Dr. Thanos Kriemadis, Professor, University of Peloponnese, Greece.

A galaxy of audience from different walks of life and youth will be infused and ignited by the message of world peace, harmony, love, unity, righteousness, service, devotion, simplicity, women empowerment creation and generation of wealth for the welfare of all and protection of Mother Earth.

Bharat Economy: Gross Domestic Product (GDP) has contracted to 7.5% in July-September, 2020, whereas it was 23.9% in April to June, 2020. It was just 4.4% in the same quarter last year. Agriculture and manufacturing with 3.4% growth have helped agriculture to persistently contribute to growth. Capital expenditure has declined by 37.7%. It is becoming difficult for the government to sustain expenditure with dwindling growth and less revenue receipts. Exports and imports continued to fall. The total foreign direct investment (FDI) during July to September 2020-21 was $28.10 billion out of which $23.44 billion was in equity. The Sensex has been reaching its peak of ……. India Inc.’s overseas borrowing has doubled in the second quarter. However, India’s growth lags in Asia. Bangladesh has a faster growth rate. India has the potential to do better provided trust is created with policies of minimum regulations and no arbitrary criminal enactments.

China’s economy expanded by 4.9% in the September quarter. Japan also grew by 5%.

The physical deficit for April to October touched a massive Rs 9.53 trillion accounting for 119.7% of the budget. Revenue collection has taken a hit due to lower tax, non-tax collection, and non-debt capital receipt.

The micro-economic factors paint a grim picture of the Indian economy. The chief economic advisor Krishnamurthy Subramanian said that economic recovery provides optimism though being cautious about a second wave of pandemic is still warranted. RBI’s governor Shaktikant Das said that the economic recovery is stronger than expected. The Covid-19 pandemic continues to pose a potent risk to growth.

MSMEs, NBFCs and service sectors are in need of more practical measures and relaxation of several regulations which are hard hitting them. Banks are still insisting for collateral security for MSMEs. 

The merger of Lakhsmi Vilas Bank (LVB) with DBS Bank of India, a foreign bank without payment to stake holders of equity and debenture, is not being viewed as natural justice. The law of equity does not justify it. The merger is not disputed but consideration of payment to stakeholders needs to be justified.

Cover story: According to the World Health Organisation (WHO), many potential vaccines for Covid-19 are under study and several large clinical trials may report results end of this year or by January 15, 2021. The WHO has convened an external panel of experts called SAGE to analyse the results from clinical trials. Each country will decide on their national use of that vaccine on the recommendation of the WHO. Scientists around the world are developing many potential vaccines for Covid-19.

The vaccine created by Pfizer Inc. and BioNTech has arrived at secure locations in the UK from Belgium. The shots is available at 50 hospital hubs around the country. On approval by the US's Food and Drug Administration, the US would deploy charter flights to move shipment of Pfizer’s Covid-19 vaccine for quick distribution. Pfizer India has become the first pharmaceutical firm to seek from the Drugs Controller General of India (DCGI) an emergency use authorisation for its Covid-19 vaccine in the country.

Five vaccines are in advanced phases of clinical trials in India with the Serum Institute of India conducting phase 3 trial of the Oxford -AstraZeneca Covid-19 vaccine, while the indigenously developed vaccine by Bharat Biotech in collaboration with ICMR has already started the phase 3 clinical trial.

Drug firm Zydus Cadila, Dr. Reddy’s Laboratories are also in phase 3 clinical trials of the Covid vaccine with different authorities.

India needs to catch up with global standards of effective vaccine management. It’s cold chain network needs improvement. Some states need expansion of the cold chain. Private cold chain infra can be contacted to meet the target.

Serum Institute of India, the world’s largest manufacturer of vaccines plans 100 million doses per month. So far, the company has made 50 million doses of the Oxford University – AstraZeneca vaccine.

Auto disposable syringes are required for safe injection. Country has large capacities to supply the desired quantity.

Training in safe injection practices is required. Safe syringe disposal measures must be practiced.

The government is committed to increase the public healthcare spending to 2.5% of GDP by 2025 from the existing 1.15%.

Covid may cost global economy $11 trillion including $5-5.6 trillion in GDP as reported by the experts. Better ecology will reduce the risk to a great extent. It is hoped by God’s grace new year 2021 will be a year of growth overcoming the hunger of millions and mitigating the risk of Covid-19.