An IIJNM Publication
Volume 13 Issue 15
What’s on your mind? Budget 2017 After demonetisation, people in India are eagerly waiting for the upcoming budget.
committee for which funds were not allotted before,” says SwagataMistry, an ex-banker at State of India (SBI). She adds, “SBI has already cut down its interest rate by 9 percent. Loan rates will be cut down and resultantly, deposit rates will also decrease. Businessmen will be benefitted as they will get cheaper loans but the common people will face many troubles. They will have
Let it Pump By Mrigakshi Dixit mrigakshi.d@iijnm.org
By Ahana Chatterjee ahana.c@iijnm.org Given the much-debated step of demonetisation on November 8, 2016 taken by Prime Minister NarendraModi, this year’s budget is going to be a significant one. This decision had astronomical effects on India’s economy- GDP (Gross Domestic Product) point was affected, rupee fell against the U.S dollars, the interest rate and loan rate in the banks came down. PM Modi claimed thathe took this step in order to stop black money transaction, circulation of fake currency in the system and funding to terrorist organizations. Among the affected was a large population of middle class and lower middle class citizens. This year, there have been two deviations from the tradition. Firstly, this time the budget will be announced on February 1, instead of February 29. Secondly, after 97 years, the rail budget will be presented along with the union budget. Last year, the GDP was 7.6 percent but the IMF’s (International Monetary Fund) forecast says that India’s GDP will be down to 6.6 percent, this time. On the other hand, Indian government said that due to an industrial slowdown, the GDP might get decelerated to 7.2 percent in this budget session. Some of the rating agencies estimated that GDP growth can be little lower than 40 points which was already the case in financial year of 2016-17. “Demonetisation will affect this year’s budget. The government has spent a lot in printing new notes and forming
Tuesday, January 31, 2017
Arun Jaitley to announce budget tomorrow at 11 am - image source: BGR.in to invest more in mutual funds.” banking services features like Mint, a business media organi- fund transfer, and merchant paysation, in one of its reports stat- ments in a single mobile applicaed that “the ratio of currency to tion, is integrated in commerce GDP in India crossed 10percent and if credit will kick into our for the first time in 2002-03 and culture or will the non- credhas remained above this level itculture continue,”he adds. since then. This ratio has averThe excise department, this aged 10.8percent in the last de- year, is not much excited about cade. There has not only been a the budget due to demonetisarelatively sharp increase in the tion and is waiting for the GST ratio of currency to GDP dur- bill which is expected to roll ing 2015-16 but a reversal of out in July. 2017’s main focus the negative trend witnessed in would be the implementation the previous three years. The in- of GST. Majority of it has been crease in this ratio could have given to the state government so persisted through the current year this year it is going to be a maas well before the demonetisa- jor step towards the economy. The service tax which was 15 percent in the previous yearmight be increased to 17- 18 percent.ShashankMathur, Network Engineer at Fidelity National Information Services (FIS), says, “With the huge inflow of cash in banks and government treasury after demonetisation, there is an expectation of lowering the income tax slabs in this budget.While GST seems to be a good idea, abolishing all taxes, including income tax, and coming out with taxation on every transaction seems a far-fetched idea.”“With the inflation,it would be good if the government can also account for a bation of higher denomination notes sic minimum salary of private Announced on 8 November.” sector employees along with the Vargab Bakshi, Partnership new pay commission,” he adds. “According to me the budget Head (South Asia) at ‘Shopify’, wishes to see cashless transac- this year will be pro-people as the tions being implemented and government has a lot of cash in promoted in a better manner. “I hand after this note ban. I expect am hoping the best for GST as it better income tax slabs, interest will solve numerous business is- rate cuts in home loan, educasues. Post demonetization, I am tion loan and also looking after keen to see how Unified Payment the matter of service tax,” says Interface, a system that powers Soumyajit Majumdar, an employmultiple bank accounts, several ee of a private company in Delhi.
Bengaluru: Doctors have found that people living in the cities are getting prone to lifestyle diseases more than communicable diseases. Heart problems, type II diabetes, obesity, atherosclerosis, strokes, cirrhosis, high and low blood pressure all these diseases comes under the category of lifestyle diseases. “Under these lifestyle diseases people are vulnerable more to heart ailments as it is one of the organ that is both directly and indirectly affected with the exposure to any sort of risk factor,” said Dr. Mohan Kumar a city based cardiologist. He mentions, these risk factors involves, tobacco consumption, smoking, sedentary life, stress, imbalanced diet and pollution. As a result of this dramatic change, there is an increase in the cardio vascular disease (CVD) cases in Bangalore. According to World Health Organization (WHO), heart diseases claim most of the lives in urban areas, followed by respiratory diseases and tuberculosis. Heart is one of the most important human organs responsible for the proper functioning of the body. Heart circulates blood and supplies oxygen and nutrients throughout the body via the circulatory system.
“There are two types of heart disease - congenital and coronary diseases. Congenital diseases are present from the birth and the latter comes with passing of time, mainly due to change in lifestyle of a person,” said Dr. Shrikanth K.V a heart specialist at city’s Narayana health hospital. He adds: “Presently around 70-80 per cent of people suffer from coronary heart disease and the percentage of patients is gradually increasing with the passing time as I witness in my clinic.” According to Medical Certification of Cause of Death (MCCD), in Karnataka, in the year 2014, more than 32 per cent lives were claimed due to heart diseases. The heart diseases consist of angina, heart
failure, stroke, peripheral arterial disease, and heart attack. In the year 2015, more than 17.3 million lives were lost across India due to the heart strokes as per World Heart Federation. Ischemic Heart disease and strokes records for 80 percent deaths caused due to Cardio vascular disease (CVD). “Heart diseases are generally linked to complications in the critical parts of heart like, heart muscles, heart valves, arteries and heart’s electrical system (atria and ventricle). Even a small problem in any part of the heart can contribute to the weakening of heart in several ways,” said Dr. Srikanth K.V. “For the proper functioning of heart it needs a continuous pumping of blood and oxygen and lack of any of it reduces the efficiency of heart,” he added. “Most of the heart disease is said to be a silent disease, there symptoms are not visible to the patients until they are on the advance stage of it,” said Dr Kumar. He asserts, “Improper diet, lack of physical activity and mental stress, exposure to all these activities restricts the proper functioning of heart. It starts from mere heart pain that people ignore.” Stress: Dr Satish at National Institute of Mental Health and Neuroscience (NIMHANS) said people these days are exposed to lot of personal and professional stress in life. Stress can come in many forms like work pressure, debt pressure and even the pressure
broken heart. “I was searching for a job since last two months. Due to stress my food intake was reducing, this resulted into high heart blood. I experienced breathlessness and heart pain,” said Aparna Reddy, 25-year-old. “Youngsters complain of heart pain, breathlessness and cough, all these symptoms may account for heart stroke or other coronary disease,” said Dr. Kumar. Consumption of tobacco and alcohol Tobacco consumption reduces the elasticity of blood vessels making them stiff and blocks the blood flow to the coronary arteries. “Youngsters these days are more vulnerable to heart diseases because of the consumption of tobacco and alcohol on daily basis. Continued on Page 2