Money With Monika: How can India’s GDP get back on track? | Corona Conversations
The Covid-19 pandemic has dealt a severe blow to the Indian economy which was already grappling with a deepening slowdown. Now, India’s Gross Domestic Product is estimated to contract by around 5% in the current financial year. The economy will have to grow by 11% in order to get back to the FY20 level. While India has done better than many developed countries in the services sector, our manufacturing potential is yet to be adequately utilised. This is one avenue which can help India not just recover from the Covid-induced economic crisis, but also grow stronger in the long run. But how can the country achieve this? Watch Monika Halan explain the various changes that can help India become the world’s manufacturing hub. Monika Halan is consulting editor, Mint, and author of the book ‘Let’s Talk Money’.
If you are worried about your equity portfolio, you are not alone. Whether or not to continue SIPs and whether or not to get out of the market would have been the most asked questions in almost every webinar that I have been a part of since end March 2020. The fear is not just about the market crash in March, but also about the possibility of a global recession and the ability of India’s already slowing and now negative growth to recover from this shock. It is a valid fear and unless India is able to get its growth back on track, targeting at least 8%, if not more, the fruits of demography, of a geopolitical advantage today and of servicing a large domestic market will all be frittered away.
Economist and former Reserve Bank of India (RBI) deputy governor Rakesh Mohan wrote in a superb 2019 paper, titled Moving India to a new Growth Trajectory: Need for a Comprehensive Big Push (read it here), that to get to the needed 8-9% GDP growth, other than a push to financial savings, there is a need to “revive animal spirits in the private sector…particularly in internationally competitive manufacturing sector”. He wrote that there seems to be an acceptance of the fact that India has missed the bus in manufacturing but that there are plenty of buses still to board, if we make the needed changes in regulatory structures that impede enterprise, both Indian and foreign, from making investments in manufacturing.
SPJIMR’s Centre of Financial Studies (CFS) is back with another webinar. SPJIMR Prof. Ananth Narayan will be in conversation with India’s renowned media editors Monika Halan, Latha Venkatesh, Tamal Bandyopadhyay and Menaka Doshi on 26th June, Friday, 5.30 – 7 pm IST.
Money With Monika: How to write a will | The Corona Conversations
Updated: 24 Jun 2020, 12:28 PM ISTLivemint
From covid-19 pandemic to meteor shower, 2020 has been a year of unprecedented events. In this special series of Money with Monika, personal finance expert Monika Halan explains the process of writing a will and how it can be transformative for you and your family. Watch the full episode for Monika Halan’s advice
We’re at the stage in the covid-19 journey where the fear of death is fast getting replaced by the fear of the healthcare system—at least in cities like Delhi that have seen flip flops by the state government and very poor use of the lockdown days to plan for the expected peak in June. The safety protocols that were in decline got a revisit as we got to know of people around us who got the disease. Their horror stories of dealing with the healthcare system scared us right back to self-isolation and the ritualistic cleaning and disinfecting after every visit outside the house.
But once fear sets in, it is difficult to shake off. The number of people pinging, mailing and calling me to figure out their Wills grew as our own taken-for-granted mortality became a question mark. Even if the disease does not kill me, joked a friend, the healthcare system in Delhi will.
I don’t know about you, but as an Iyengar Yoga practitioner, every time I see the weird distortions of yoga posture names—criss-cross applesauce or downward facing dog—I cringe. Some Indians, who know how to perfectly pronounce words in English, Latin and French, mock at others who can’t get the right accent and intonation of foreign language words, seem to be totally fine with not just mispronunciation of yoga postures like swastik asan or adho mukhsvanasan, but with them being given totally new names. If calling a croissant a kekeda roti is silly, it is far sillier to distort names of asans that are a few thousand years old. Well, at least it feels silly and facile to some of us who are yoga purists.
But this was not meant to be a rant about what the postures are called by yoga wannabes, but about how yoga and financial fitness share the same lessons for our physical and financial fitness! I’ve found great synchronicity between my yoga practice and financial planning and I want to share some of these with you.