24 NOVEMBER 2016 Demonetisation Scheme: Impact on Indian ... · and demonetisation would lead to a higher tax/GDP ratio. Phil-ips Capital reported that parallel economy accounted

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VOLUME 2 ISSUE 18 24 NOVEMBER 2016

Demonetisation Scheme: Impact on Indian EconomySaptarshi Chowdhury

Parliament adjourned

Supermoon Phenomenon

Strike of Thunder

International Film Festival in City of Joy

Opposition stalled both houses of parliament in its winter ses-sion on their attack on the gov-ernment over impact of it’s ban on 500 and 1000 rupee note.The opposition shouted slogans and demanded PM Naredra Modi to come and respond to the hard-ships being faced by the com-mon man in Rajya Sabha.In Lok Sabha opposition have moved 21 adjournment motions on note ban disturbing the normal func-tioning of the parliament.

The moon in it’s full moon phase was closest to the Earth, last Monday , a phenomenon be-ing popularly called supermoon .The rarest of the rare celestial event and one of its type in 68 years witnessed the moon to be the largest and brightest. The next such celestial event will be in 2034 when the three celestial bodies Earth,Moon(in its full moon phase) and Sun will fall in a staright line a term techni-cally being called perigee-syzy-gy of earth –moon –sun system.

Prime Minister Narendra Modi has pulled off one of the most signifi-cant reforms of the NDA govern-ment by announcing the demon-etisation scheme on November 9. The move has been largely appre-ciated as a bold step against black money and hawala transactions; the scheme is also expected to pro-vide a blanket cover against illegal cash in the coming future.The success of a scheme depends how it performs in the short term period and its impact in the long run. Both these parameters will always have a mixed impact on the general population. When the government banned the 500 and 1000 rupee notes, an estimated 14 lakh crore of liquid cash in the money market became invalid.In the short term the lower, middle and upper middle class have been hit. Household cash or cash in hand have been rendered invalid; if this cash in hand that was gen-erated through illegal means could be either disposed off or depos-ited in the banking system. Till

two days ago 1.5 lakh crore have been deposited in banks across the country, this money will surely have an impact on the economy. There is disruption in the current liquid cash scenario which has af-fected small traders, kirana stores, and roadside vendors. The work-force involved in this sector will also suffer until situations normal-ize.Since the announcement of the scheme, movement of goods and services have come to a standstill. Consumption is haywire as con-sumer durables and non-durables have seen a negative impact be-cause disposable income of the general population has taken a hit; the consumption pattern has also changed. The credit terms and financial arrangement between consumer firms, distributors and wholesale/retailers have been dis-rupted because of the tight cash supply scenario.Demonetisation would have a negative impact on the real estate sector as it has strong links to il-

legal cash transactions. The luxury goods segment will also see a neg-ative impact and in the long term sectors such as Jewellery, luxury cars will face the heat. The equity market might panic in the short term but is expected to stabilize quickly. With this scheme the gov-ernment also makes a significant push towards a cashless economy so businesses such as mobile wal-lets, payment banks and financial technology will see a gain in the long term.Generally being described as a long term trump card, demoneti-sation can have a positive impact on the country’s tax structure. The move comes when we are already heading towards a new tax regime in the form of GST. Both the GST and demonetisation would lead to a higher tax/GDP ratio. Phil-ips Capital reported that parallel economy accounted for 23.2 % of our GDP which is now around 25-30% of our GDP, post demoneti-sation. As the government keeps a close watch, a stronger tax net

would mean higher tax collection and more money being accounted for. In the long run the government should deduce tax rates.While the scheme outlines every major concern, it doesn’t state the fate of those who still doesn’t have a bank account. Hospital treatments and wedding plans are facing the heat of this move. A newborn died because the hospital did not take payments in old de-nominations. Senior citizens and common man faced harassment while standing in the long queue for currency exchange. Banks have been running out of cash and ATM’s are still closed, while the move is being appreciated many are complaining about the poor execution and planning. The im-mediate political impact would be felt in the upcoming UP and Pun-jab polls. While the country has already witnessed such schemes in the past during the Moraji De-sai government we hope this time the menace of black money can be curbed to a great extent.

“Kolkatay asbo kintu bangla bolbona, ae ki kokhono hoy!” Shahrukh Khan exclaimed while the city of joy cheered him loud. Well that’s a part of his sweet little Bengali speech that he gave at the inauguration of Kolkata Film Festival (KIFF) on 11th November. A star studded af-fair, the inauguration ceremony saw the presence of Bollywood Shahenshah Amitabh Bachchan, his wife Jaya Bachchan, state ambassador Mr. Shahrukh Khan, Mr. Sanjay Dutt, Kajol Devgn and Parineeti Chopra. While Jaya Bachchan made way for the “jamai” of Kolkata to speak to his admirers, Amitabh gave a stunning speech recollecting the journey of Indian Cinema and the progress it made in its por-trayal of the fairer sex.In the presence of the honour-able Chief Minister Mamata

Banerjee, Kolkata embraced the 22nd edition of its much awaited gala festival at Netaji Indoor Sta-

dium. Adding a twist to the tale, two new extraordinary themes were added to the cine extrava-

ganza this time – “Parae Parae Cinema” and “Innovation of moving images”.

Celebrating films and the talents of the film lovers, KIFF is screen-ing 155 films from 65 countries

with China as the focus country. These films are projected across 105 screens at 13 venues at the city. Encouraging the fight for women empowerment, KIFF se-lected 15 films from 13 countries for the international competition (Best Film by a Woman Director and Best Woman Director). To ensure that the best works of the world cinema is showcased during the festival, KIFF has left no stones unturned in its selec-tion process. Considering the stiff competition, a wide collec-tion of films will be presented that’s surely going to strike the right chord with the people. However as King Khan said, whether you win or not, the city of joy wished the dignitar-ies and the worldwide talents a warm and marvellous stay, with the promise to enjoy the best of works round the world.

Pakistan holds Strike of Thun-der drill along Border amid escalating tensions between Is-lamabad and New Delhi .The military exercise which wit-nessed JF-17 Thunder fighter jets,helicopter gunships and Al –Khalid tanks being used came in after Indian firing kills seven Pakistani soldiers along LoC.

Ipshita Paul

The historic nuclear energy deal between In-dia and Japan was sealed during the Prime Minister Narendra Modi’s recent visit to Ja-pan. The deal was signed by Narendra Modi and his Japanese counterpart Shinzo Abe in Tokyo almost six years after the negotiations started. This was the Prime Minister’s sec-ond visit to Japan in a span of two years. The deal is historic in many ways. India is the only country that has not signed the Nuclear Non-Proliferation Treaty, yet has entered into an agreement with Japan. This agreement will allow Japan to supply nuclear reactors, fuel and technology to India. There were strong reservations in the Japanese po-litical circle about the agreement and Japan had sought assurances from New Delhi that it would not conduct nuclear tests any more

before the deal was signed. Concerns have been raised in India over the note on ‘Views and Understanding.’ Japan has stated in the note that if India violates the declaration of September 2008 unilateral moratorium on atomic tests, the deal will be terminated. Critics in Japan have also raised concerns about country’s technology being diverted to India’s nuclear weapon programme. Both the Prime Ministers have insisted that the agreement will contribute to peaceful use of nuclear energy. The Japanese government, however, was supported by its trade lobbies. It wanted to sign the deal to earn economic dividend of-fered by the huge Indian nuclear market es-timated to be over US$ 100 billion. During the previous rounds of negotiations, Japan

had consistently insisted on the “nullifica-tion clause” which would allow automatic freezing of India-Japan nuclear ties if New Delhi carried out any further nuclear tests. However, Japan expressed its satisfaction over India’s voluntary moratorium on fur-ther nuclear testing. Yet, it seems quite diffi-cult for Prime Minister Shinzo Abe to justify discarding of the ‘nullification clause’ in the Japanese parliament.

Doctor StrangeAaheli Ghose

Dr. Stephen Strange (Benedict Cumber-batch) is a world-renowned neurosurgeon – taking on hopeless cases that no other doctor would dare attempt. Unfortunately, Strange’s motivation for fixing irreparable spines and removing inoperable brain tumors is a self-serving one – as the doctor loves fame and fortune more than the gift of saving lives. While speeding along a mountainside road-way, preoccupied by which medical case he should accept next, Strange collides with another car and is tossed down the hillside – mutilating his hands in the fall. Months, and millions of dollars in experimental pro-cedures, later and the doctor is still impaired by nerve damage in his fingers – damage so severe that he is no longer able to perform surgery.In a last ditch effort to repair his hands and resume his work, Strange travels to a myste-rious place of healing known as Kamar-Taj in Nepal. There, Strange discovers that, for centuries, Earth has been protected by a se-cret society of sorcerers – men and women responsible for defending the laws of nature and physics from supernatural threats. Led by the Ancient One (Tilda Swinton), and mentored by fellow sorcerer Baron Mordo

(Chiwetel Ejiofor), Strange becomes a pow-erful magic wielder – but when an old enemy of Kamar-Taj returns for vengeance, Strange must decide whether he will use his new-found abilities to fix himself and return to his former life or step-up to a greater calling – one of self-sacrifice and servanthood. Fol-lowing thirteen successful installments in the Marvel Cinematic Universe, Doctor Strange not only serves to expand the interconnect-ed MCU narrative through the inclusion of mysticism and alternate dimensions, the film also continues to push the larger franchise into new sub-genres and fresh cinematic lan-guage. Where aspects of Doctor Strange bor-row heavily from the Marvel Studios formu-la, especially via origin story setup and a dull villain, director Scott Derrickson (Sinister) conceived a blockbuster movie experience packed with spectacle and unique action set pieces – while laying a satisfying foundation on which to explore Doctor Strange in the current story and beyond. Where most MCU films have become near-inseparable from the shared timeline, Doctor Strange only makes passing refer-ences to The Avengers and prior universe-level events. Doctor Strange is, in spite of

far-reaching implications and future connec-tions, a satisfying self-contained adventure – in which many of the best moments stem from the drama, humour, or action at hand. As a result, casual filmgoers should find Der-rickson’s film more approachable than most MCU installments, since the movie priori-tizes a focused (though customary) introduc-tion to its main character and does not get bogged down by cross-narrative complica-tions. Still, even though the film can stand on its own, there is also plenty of enticing MCU connections (big and small) as well as easter eggs for established fans to dissect.

CAMPUS NEWS

Interactive Session Mr.Krish Dhanam of Zig Ziglar Corporation organized a session on digital generation apps at NSHM Knowledge campus on November 12,2016.The inter-active session with students and staff members catered towards

discussing the growing depen-dency of today’s generation on digital apps and the vices and virtues of it.

TheTeam: Aaheli Ghose, Aakruti Saha, Aindrilla chatterjee, Ipshita Paul, Ishani Bhattacharjee, Paramita Das , Ramyani Mukherjee, Saptarshi Chowdhury, Sreemoyee Bhattacharya Design Team: Lina Manna,Medha saha

Chief Mentor: Dr Buroshiva Dasgupta Mentors: Jhuma Basak, Sharmila Sinha, Debanjan Banerjee, Anwar Ali, Ankita Ash, Reshmi Naskar,Barnali Ray

Director: Scott DerricksonProduced By : Kevin FeigeWritten By: Jon Spaihts, C.Robert, Cargill, Scott DerricksonCast: Benedict Cumberbatch, Rachel Anne McAdams, Tilda SwintonRating: 4.5/5

Impact of Trump’s win on world politics

Obituary : Leonard CohenRenowned canadian singer, songwriter and poet Leon-ard Cohen passed away at the age of 82 years on 7 th of November. Born in Westmount, a suburb of Montreal pub-lished his first collection of poetry”Let us compare mythologies”, in 1956 and the prowvocatively titled “Flowers of Hitler” in 1964.Cohen left his literary ca-reer for his revolutionary music.He recorded his first debut album with John Hammond which are fol-lowed by “songs from a room”(1969) another pow-erful collection of songs which enforced Cohen as a poet who sang for the dying spirits.Leonard Cohen per-formed at the Royal Albert Hall in 1972 and the theatri-cal trailer”sisters of mercy” was produced in New York and the rest was history of-course.He positioned him-self as the wise world weary artist whose cogent themes of love and faith, anguish and ecstasy, war and poli-tics and harrowing lyrics covering myriad spheres of life left the world marvel.More than 2000 songs were recorded over his musical career of more than half a century.His last album which re-leased this year ,seemed to be his final letter to life depicting his rumination on spirituality and morality, all in a final conversation with God.Leonard Norman Co-hen will always be remem-bered as the legend for his songs which are a food for the soul.In other words, he will always belong to those who could hear his loud whispers between his the lines of his poetry.

Indo-Japan Nuclear Deal

Paramita Das Donald Trump is the 45th President of USA and its being termed as a shocking upset, with many Americans still refusing to accept him as the President. The world now has to adjust their foreign policy in accordance with ‘Trump’ policies, which to everyone’s surprise is volatile. Donald Trump initiated ‘hate politics’ and ‘America for Americans’ as his agenda before the American Presi-dential elections. In the context of terror-ism Trump based his opinions on complete annihilation of Muslims and as a National-ist leader,promised to inhibit the immigrants in America,refused to give proper respect to blacks and latinos only to bring the sentiment of white Americans in his favour to achieve his mostly desired victory over Clinton. Suprisingly enough his ploy has worked with Hillary Clinton being handed a very disas-trous result.Donald Trump directly played with the fears of the American people, by succesfully firing up racist attitudes among white Ameri-

cans thereby creating xenohobia. In doing so he successfully alienated Clinton from the educated as well as the non-educated white college voters. The frustration that was sup-pressed during the Democratic regime is now out in the open. People favours strong immi-gration policy, sending back immigrants and building a wall to keep their fears at bay.While tensions at home remains, Europe should be tensed about Trump’s disregard for NATO. He has advocated an exit from NATO as it doesn’t serve US purposes. In doing so other European countries would lose their security arrangement with Wash-ington. In Asia, Japan would be tensed with the US election results. In his Presidential campaigns, Donald Trump has advocated that Japan should now end their dependence on US nuclear arsenal and be ready to defend itself. The asia-pacific region could witness an arms race if in all probabilty if Trump sticks to his word.

A Trump Presidency could not have come at a worst possible time for the Middle East. In constant turmoil over terrorism issues, many are unsure of Trump’s policies. Donald Trump is happy to let Russians carry out their operations against ISIS and others, which means that conflict in middle-east would drag on. Suprisingly US may have friendly relations with Russia. Both President Putin and Trump have acknowledged each other in the recent past. It is of little doubt that United States have selected one of their most unpredictable Presidents.

Ramyani Mukherjee

Movie ReviewVOLUME 2 ISSUE 18 24 NOVEMBER 2016