Unique Times December 2020

Vol 9 Issue No.111 Dec - Jan 2021 USD 0.70`50AED 5BD 0.500

STRENGTHEN INDIA’S DEBT MARKET TO STRENGTHEN NBFCS Shri V.P. Nandakumar, MD & CEO, Manappuram Finance Ltd.

M O T O R S

SREE

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Jebitha Ajit Director & CEO Editor Jebitha Ajit Legal Advisor Latha Anand The things you regret most in life are the risks you

B.S.Krishnan Associates didn’t take.” – Lewis Carroll bskrishnanassociates@gmail.com He who shows courage to taste the bitterness of Sub-Editor Vignesh S.G Associate Editor Ravi Saini risks deserves to enjoy the sweetness of success.

Rajeev Kumar David Carmel Alex, a young financial analyst hails

Director and special editor kollur from the Kerala district of Kollam, is the founder of Correspondents Dr. Thomas Nechupadam MaverixPro, steered by him and his close friends,

Vivek Venugopal- Quarter Mile Mahammed Sajid, Abdul Basith, Sethu Lakshmy and

Amrutha V Kumar Mohammed Mustafa. The company has undergone treCreative Design PEGASUS mendous growth in the recent time. The extraordinary Cover Photographer Rony Anto Tharakan story of Mr. David, his team and his organisation come Marketing UAE as the cover story of this edition.

Phygicart.com This time, Manappuram Finance Limited MD and

P.O. Box: 92546, Al Karama Dubai CEO V P Nandakumar brings the attention of the counMr. Anish K Joy

try to a highly important matter: the need to strengthen

Mob: +971528946999 India’s debt market to strengthen NBFCs. info@phygicart.com Our travel article is expected to excite our readers

Plot No 19A, 9th Floor, immensely. This month, Togo, a less-explored African

Green Building, Film City, country, is explored.

Sector - 16A, Noida - 201301 Our auto, this edition, introduces us to an excepMaharashtra

tional premium hatchback car, Hyundai i20. The ex Jayasankar M, a/101, pert explains every minute characteristic of the car in

New Prathamesh Niwas, a highly professional manner.

OPP. Laxmi Park, Thakurli East, Apart from the said articles, all our regulars from

Dombivli post, Thane District, 421201 beauty, movie review and book review to motivation,

Mob: 9820708662 and business come with a rejuvenated energy in this Hariharan

edition.

chennai, Mob: 9840018929 ‘The more that you read the more things you will

Unique Times, No.6/31, know.’

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Printed at St. Reddiar & Sons, P.B. No: 3627, Veekshanam Road, Cochin Published at Pegasus Global Pvt. Ltd. L5-106, Changampuzha Nagar Kalamassery, Ernakulam-682 033 e-mail: editor@uniquetimes.org uniquetimesindia@gmail.com Ph:0484 2532040, 2532080 Mob:9288800999

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CONTENTS

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Scripting stock market success stories: MaverixPro

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Strengthen India’s debt market to strengthen NBFCs

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Importance of the study of management today

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Right to libertya right too precious

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Facts about Alzheimer's disease

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Gadgets Natural tips to reduce pores on face Togo: Rewriting the Destiny of Africa Hyundai I20

UNIQUE DIARY

India to increase its smartphone export

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he Asian superpower of India, which has recently introduced an ambitious ‘Make In India’ program to strengthen its economy (primarily, its manufacturing sector), is expected to step up its smartphone export to around 11,113 crore Indian Rupees. It is a study conducted by techArc that has revealed the information.

The Make In Indian, the program launched by the NDAled central government, is an ambitious program, which aims to transform India as a true manufacturing giant.

The country normally exports smartphones to the UAE, the US, Russia and SAARC countries. Anyway, the report indicates that the Make In India program is progressing towards right direction.

Adani Solar to enlarge its manufacturing capacity

“I grew up in poverty, but I always saw it as a challenge.

The good thing is that you can surmount a challenge if you are willing to pay the price.

The price is hard work.”

Reginald Mengi.

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undra Solar PV Ltd., which is known as Adani Solar, is planning to enlarge its manufacturing capacity massively. The proposed enlargement is aimed to meet the anticipated rise of the domestic demand by the year 2021. Currently, the company is the largest integrated solar cell and module manufacturer in the country. It possesses an impressive capacity of 1.5 GW. It is targeted to add an additional capacity of 2 GW to take its total capacity to the mark of 3.5 GW. It is said that in the near future the domestic demand will climb as high as 10 to 12 GW. What makes the move tactical is the fact that it lowers the country’s current dependence on China in this business area.

UNIQUE DIARY

AstraZeneca boasts its Covid-19 vaccine 90 per cent effective

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harma giant AstraZeneca has boasted that the vaccine it has developed to fight the Covid-19 pandemic can be more than 90 per cent effective. The company has assured that the vaccine can play a key role in the fight of the world against the virus. It has said that it will have as many as 200 million doses ready to be distributed by the end of this year (2020). The company’s main competitor is Pfizer. Recently, a slight fall has been reported in the value of the shares of the company as the efficiency rate of the vaccine has been reported unimpressive compared to the efficiency rate boasted by its US counterpart.

Good year for Helmet industry

“Motivation, backed by good planning and correct action, leads to success.�

Aliko Dangote

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he year 2020, though was not a good year for the automobile industry, was a very good year for the helmet industry, as the sector is expected to grab an impressive growth of ten per cent this year. It is believed that the strict enforcement of the laws related to the wearing of helmet has helped the industry to display this performance. It is said that the industry is likely to continue its growth momentum in future also.

As per a report, the industry sees a massive opportunity in the new policy of the government which bans non-ISI certified helmets. A businessman has said that if the new policy is implemented strictly the industry will watch a tremendous growth in the near future.

Unprecedented reforms to gift new era of growth: NITI Aayog CEO

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mitabh Kant, the Chief Executive Officer of the NITI Aayog, has opined that the unprecedented reforms on both the fronts of governance and economy are expected to gift the county a new era of growth and prosperity. The words of the chief of the organisation erected to achieve the development goals of the country offers great hope to the people of the country, which wants the country to get back to the track of rapid development as early as possible.

The chief of the NITI Aayog has reminded the country the need to increase its investment on the area of research.

There is no doubt that the area of research can play as a true catalyst to the country’s development dreams.

Centre to replace current FDI clearance system with transparent one

“Everyone has the freedom to become what they want to become. It is up to you to build your confidence and work hard to get where you want to be.”

Chris Kirubi

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he central government is set to replace the current clearance system for Foreign Direct Investment with an alternative which is more transparent. The new alternative is expected to handle the requests in connection with the FDI in an expeditious manner.

The new system is scheduled to come to place from March 31, 2021 onwards. It is believed that the said system can give a boost to the economy of the country – which urgently needs a boost. The vital information has been publicised by Indian Finance Minister Nirmala Sitharaman herself, while speaking at a meeting organised by the Confederation of Indian Industry.

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Moldovan Election: Pro-EU candidate defeats Pro-Russian candidate

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aia Sandu, the pro-EU candidate, has defeated pro-Russian candidate Igor Dodon, who is the incumbent President, in the Moldovan Presidential Election.

Ms. Sandu has secured as many as 57.7 per cent vote.

At the same time, her opponent, Mr. Dodon, has failed to wrist more than 42.2 per cent vote. The result implies that the country, in the near future, may move close to the faction, led by France and Germany, away from the one, led by Russia. Ms. Sandu is a former World Bank economist. Undoubtedly, the result is a huge blow to the faction led by the European rebel of Russia.

Hungary, Poland veto Covid recovery fund

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wo conservative European countries, Hungary and Poland, have vetoed the Covid-19 recovery fund, introduced to help those countries - which were weakened economically by the virus outbreak. The European Union budget, which includes the recovery fund, has been blocked using a clause that ties funding with adherence to the rule of law in the bloc.

Had the budget been passed, those countries which were devastated by the virus outbreak would have received a strong financial support of â‚Ź750bn. The EU consists of over 27 member countries. The EU functions on the basis of consensus. Each and every member has the right to veto European Union Budget. Hungary and Poland have used their veto power to block the budget.

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French court dismisses petition seeking postponement of trial against Sarkozy

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court in France has dismissed a petition seeking the postponement of a trial against former French President Nicolas Sarkozy. He is accused of offering a lucrative job to a judge in exchange of a vital information on a campaign finance inquiry. The request to postpone the trial was submitted lately on the ground that his medical condition could worsen if he was presented in the court. Anyway, the medical examination carried out on the former President at the behest of the court has found the ground baseless. The development is a big blow to the former President. Mr. Sarkozy was once a very powerful political leader based in France.

His mixed ethnicity was what made him more acceptable.

Russian Covid-19 vaccine less expensive than competitors

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he vaccine developed by Russia to fight the Covid-19 pandemic, Sputnik V, will be less expansive than the other vaccines which are expected to hit the market along with the Russian vaccine in the near future, as per a latest report. Russia is the first country which has come up with a strong vaccine against the virus outbreak – which has brought the world to a standstill. Though the west initially expressed scepticism over the efficiency of the vaccine, it has later softened its stand against the vaccine. The main allegation against the vaccine is that it was launched before the proper completion of its final phase of clinical examination. Notably, as per a recent study report, the efficiency of the Russian vaccine is not less than 95 per cent.

For more info: europetimes.co

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COVER STORY

SCRIPTING STOCK MARKET

SUCCESS STORIES MAVERIXPRO

Investing in the stock market is one of the best ways to achieve one’s financial goals. However, Indians have a strange love-hate relationship with the stock market and just 1.5 percent of our populace invests in equity markets.

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Photography: Rony Anto Tharakan

Demystifying the trading process has been our biggest challenge. People also hesitate to invest in stocks for many reasons. It could be fear of incurring loss, lack of knowledge, lack of patience and skill, poor service from advisories and brokers, lack of proper financial education etc.

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COVERSTORY COVER STORY

The company, steered

by David and his buddies Muhammed Sajid, Abdul Basith, Sethu Lakshmy and Mohammed Mustafa, all in their thirties, is setting a new benchmark in the industry by making stock trading accessible for all.

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hen the states like Maharashtra, Gujarat, Tamil Nadu, West Bengal and Uttar Pradesh see many active traders entering the trading scene, Keralities have mostly shied away, barring very few exceptions. When it comes to investments, they have been reluctant to go beyond the staple of fixed deposit, real estate and gold.

Today, the state is emerging as a forerunner for making the stock market education universal, thanks to the efforts of the start-up MaverixPro. Founded by David Carmel Alex, a financial analyst who hails from Kollam in Kerala, MaverixPro comprises of a young and dynamic team who aids in offering a hassle free trading experience.

The company, steered by David and his buddies Muhammed Sajid, Abdul Basith, Sethu Lakshmy and Mohammed Mustafa, all in their thirties, is setting a new benchmark in the industry by making stock trading accessible for all.

David developed a penchant for stock trading from his early years. He has seen his father, a businessman in Saudi Arabia, trade and book profits.

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COVER STORY COVERSTORY

People from small towns are showing increasing interest in stock trading and this is indeed a positive trend as it leads to socioeconomic transformation. Slowly, some of them are diversifying their investments rather than sticking onto traditional, conventional fixed savings avenues.

In the later years, his work experience with some of the leading trading firms helped and some of the stocks he owned proved multibaggers.

With his specialized knowledge and experience in trading, David is confident that stock market education would enable more youngsters to make it a parallel income stream and reach their financial goals at a faster pace. The MaverixPro Office at HiLITE Business Park, Calicut, is a scene of brisk activity.

The high-tech trading floor, equipped with over 100 analysts who are adept at advanced hedging strategies and algorithms supported by machine learning advancements, being the highlight.

Just as any other online communication platform, MaverixPro has been

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much sought after during this pandemic as economic woes and hunt for new income streams spurred people to find time to learn and invest. During this period MaverixPro has seen a surge in demand, particularly among younger, less experienced investors.

“Demystifying the trading process has been our biggest challenge. People also hesitate to invest in stocks for many reasons. It could be fear of incurring loss, lack of knowledge, lack of patience and skill, poor service from advisories and brokers, lack of proper financial education etc.” says David.

And now it isn’t just the urbanites who are interested in stock markets.

MaverixPro’s diverse clientele include small town investors as well. “People

from small towns are showing increasing interest in stock trading and this is indeed a positive trend as it leads to socioeconomic transformation. Slowly, some of them are diversifying their investments rather than sticking onto traditional, conventional fixed savings avenues”.

“At MaverixPro, we create a portfolio for our investors once they trust us with their money. Our traders, based on their experience in the industry, analyze companies on the basis of their track record and performance. Investments are made in a select basket of shares of promising companies. Portfolio managers assist investors when they say they aren’t knowledgeable enough

or don’t find time to research and track their financial investments”.

The firm also provides classes to trading enthusiasts and aims to create a platform where traders can communicate with each other making it a live and interactive space.

The women who have for long settled for domesticity forsaking their career goals find a savior in MaverixPro. Their dream of becoming financially independent can now be realized through trading. “Many of them come to us wanting to make a fresh start, to pursue something worthwhile that could be mentally satisfying, yet at the same time giving them a strong financial footing with a sense of achieve-

ment. Some of them become quite successful at it proving that number crunching isn’t just the men’s domain. Many working professionals also come to us wanting to make a parallel income from the stock market.”

A family man, David loves spending time with his family.

His wife Rossanna Sebastian and son Alix Mikyle Carmel David make sure that he’s high on the happiness quotient. When asked about his future plans, pat came the reply. “Retail banking sector is an area where we would like to enter next. Also, we would like to bring financial education, retail banking and brokerage services under a single umbrella”

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BUSINESS

Shri V.P.Nandakumar MD & CEO Manappuram Finance Ltd.

India’s financial markets are still a work-in-progress and there’s a dearth of alternatives to bank funding, especially for the long-term. The solution, therefore, is to deepen India’s bond markets that would free NBFCs from excessive dependence on banks to make the occasional failures like IL&FS less traumatic for the banking and financial system. The development of an active and liquid corporate bond market will greatly help in the transparent and efficient financing of business and industry, especially NBFCs.

Strengthen India’s debt market to strengthen NBFCs

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t’s well known that in recent years India’s banks have been grappling with high levels of non-performing assets (NPAs).

This problem came to light in 2014-15 when the Reserve Bank of India, suspecting that NPAs were being under-reported over the years, intro-

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duced tougher norms for NPA recognition under an Asset Quality Review.

The result was that NPAs in 2015-16 almost doubled over the previous year. With the consequent sharp increase in provisioning, many banks have suffered severe erosion of their capital base. This, in turn, con-

strained their ability to lend in tune with the requirements of the growing economy. Since credit is the lifeblood of the economy, India stood to suffer badly under these circumstances.

However, as things turned out, it was not as gloomy as one would have feared, only because the non-banking financial companies (NBFCs) stepped up to the plate. Consider these figures. The lending book of India’s NBFCs has grown at a rate of 18 per cent in the last five years, while the sector’s contribution to total credit has increased from 15 per cent to 20 per cent in just three years. The NBFC sector has played a pivotal role in meeting the financial needs of individuals and businesses that have traditionally remained un-served or underserved by banks. NBFCs are now recognized as last-mile financiers with proven ability to lend to those marginalised sections of society that commercial banks would not

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BUSINESS

India’s corporate bond market’s penetration or outstanding corporate bonds as a percentage of gross domestic product is abysmally low (around 15 per cent) compared to many of its emerging market peers, like Brazil and Turkey.

have deemed creditworthy. Also, most of them are niche players who approach their business with focused attention and unique insights which allows them to devise innovative ways to address the special needs of their target segment. And innovation allows them to generate profits out of businesses that mainstream players would dismiss as losing propositions.

The funding challenge for NBFCs

While NBFCs are seen as a segment distinct from the banks, the fact remains that the major source of funding for NBFCs even today is the banks.

This is especially true for the nondeposit taking NBFCs. In FY2017, borrowings from banks made up 21.2 per cent of NBFC borrowings, which jumped to 23.6 per cent in FY2018 and 29.2 per cent in FY2019. This

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reliance on banks for meeting a large share of their funding requirement comes at a price. It has meant that NBFCs have often had to face difficulties in lending to even their deserving customers because of inadequate funding arising from the weakening credit profile of the banks.

The reliance on bank funding was not without its blessings as it was easier for NBFCs to raise money at lower costs when the going was good.

However, whenever the tide turned, it would become difficult and costly.

The fact is, banks have acted mostly as fair-weather friends, lending an umbrella in clear weather and taking it back when it rained. This kind of risk-averse behaviour is perfectly understandable because banks are, after all, custodians of the depositors’ mon-

ey. And so, after the 2018 default by one of India’s largest NBFCs (IL&FS) highlighted the problem of asset-liability mismatches across the sector, banks have generally turned wary of lending to NBFCs. Matters were not helped when the leading NBFC engaged in housing finance, Dewan Housing Finance Ltd., also went under subsequently.

Given the risk aversion of the banks, over the last two years there has been a change in the funding scenario for NBFCs. The days of banks being the primary source of funds for NBFCs may well be coming to an end. These days NBFCs are raising funds in the markets at ultra-cheap rates even though the banking system sits on a huge surplus while still reluctant to lend to NBFCs.

Bond market as the alternative to banks

India’s financial markets are still a work-in-progress and there’s a dearth of alternatives to bank funding, especially for the long-term. The solution, therefore, is to deepen India’s bond markets that would free NBFCs from excessive dependence on banks to make the occasional failures like IL&FS less traumatic for the banking and financial system. The development of an active and liquid corporate bond market will greatly help in the transparent and efficient financing of business and industry, especially NBFCs.

The question may now be asked, ‘What prevents the growth of the bond market in India?’

Well, factors such as the dominance of banks in lending, the limited risk appetite of individuals, requirement of higher credit ratings, tax arbitrage, and prescriptive regulatory limits on investments have all played a part. Also, retail participation in debt markets is minimal even though the psyche of the Indian investor is skewed towards fixed income instruments (as much as 47% of the annual household financial savings flowing into bank deposits.)

And so, India’s corporate bond market’s penetration or outstanding corporate bonds as a percentage of gross domestic product is abysmally low (around 15 per cent) compared to many of its emerging market peers, like Brazil and Turkey. In

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Turkey, non-government bond issuances jumped from less than $1 billion in 2010 (0.2 per cent of government issuances) to over $18 billion (12.82 per cent of government bonds) in 2020.

There is, thus, an urgent need to deepen the bond markets with larger participation from the retail investors so that NBFCs can shift from banks to the bond market for the bulk of their funding needs. A good start may be made by having the on-tap public issue of bonds directly to investors, enabling corporates to raise funds regularly at lower issuance cost. The main challenge faced by the investors is the illiquidity of bonds, as each issuance is a new instrument, unlike equity shares where all the follow-up issues are part of the same instrument. It may be worthwhile to explore the issuance/ re-issuance of perpetual debt securities (to be traded on a clean price mechanism, just like G-Sec) allowing higher liquidity and larger participation of investors.

For borrowers, it would lower the funding cost with transparent price discovery. The bond market also requires a functional trading platform

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with a central counterparty facility like that for government securities.

We also need insurance products like credit default swaps for an active secondary market for corporate bonds. The bottom line is to do away with opacity when it comes to underlying assets. The Indian bond market is reasonably large in Asia. However, it is dominated by government securities. Attention should be given to bringing about further growth and diversification in the corporate bond market since it is currently lagging relative to peer countries.

Why it matters for NBFCs

NBFCs have been at the forefront of innovations in financial services which banks go on to adopt later. The culture that produces innovations thrives best under a light-touch regulatory structure.

Regulations are a product of rational thought, whereas innovations emerge from out-of-the-box thinking. Innovations cannot thrive under a heavy hand as encouraging the innovation culture requires a higher tolerance for failure. Innovations are like start-ups where the failure rate is high, yet the one that survives and flourishes, goes on to redefine the

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sector. If India’s NBFCs have succeeded against the odds so far, it’s because they have been lightly regulated all these years compared to the banks. In the banking sector, failures come at a high cost and hence the need for rigorous regulations to prevent downsides.

In the post IL&FS scenario, there is pressure on the regulators to tighten up their oversight of NBFCs. Indeed, as long as NBFCs depend primarily on banks for their funding (considered as money belonging to the public), the regulators will be under pressure to tighten their grip as any default involving public funds is bound to be controversial. And that, as we have seen, would be detrimental to the innovation culture of NBFCs. That’s why a shift in the funding pattern of NBFC’s towards the bond market and away from dependence on banks would be hugely positive for the financial sector, as it would also help NBFCs retain their innovative edge.

(V.P. Nandakumar is MD & CEO of Manappuram Finance Ltd. Views are personal.)

BUSINESS

Rajesh Nair Associate Partner, Ernst & Young LLP

Like any other business, hospitals are also a conglomeration of processes with all the ailments that the processes have. The health report card of any clinic will have to focus on the various symptoms that the hospital exhibits and then take a call on what is the disease profile and then prescribe the various age old panacea from the other industries like optimal queuing models, inventory policies like Just In Time (JIT), Six Sigma, Total Productive Maintenance (TPM), demand forecasting models etc.

Importance of the study of management today

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he subject of management has evolved through the years to be one of the most sought after as well as craved for academic area. The science or art debate has been one of the prolific debates that provide the fecundity and normative logic characteristic only to the subject.

The root of the foundation may not be as fertile a topic as its diverse branching. The interpretations of the subject have itself been the prerogative of the individual himself.

Cultural vagrancy, ethical structure, flora and fauna have all its impact on the way the subject is manifested. As they cliché goes “It’s never Black and White but a shady Grey”. Then why the clamor, the hype and the attention? The answer itself comes from one of management’s premier gurus, Peter Drucker “Never was a subject

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BUSINESS so full of common sense”.

The repositories of knowledge defy the imagination of pundits let alone students. Looking at the history of civilization can itself engage a perceptive mind for years and years of learning management.

The conquests of Alexander, military acumen of Napoleon, Chinese war strategies, (Art of war by Sun Tzu) are still today the favorites of management students. After all its war out there at the market place. The artillery may be different but the scenario is still the same. “Obliterate the competition”. Old religious scriptures are the best teachers of the quality of life and the moral responsibilities of man (or manager). Life and

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times of Emperor Ashoka teaches the concept of corporate citizenship, federalist governance, society and the finer aspects of community living which saw roots in India much before the western civilization made it their own.

But the subject of management has gradually emerged im-

Sigiriya Rock Fortress, the Temple of the Tooth, Adam’s Peak, Yala National Park and Arugam Bay are the main tourist attractions in the Indian ocean Island country of Sri Lanka.

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portant, and more importantly it is now all pervasive in various sectors. The technical course like Engineering and Medicine seemed to lack the ‘execution’ capability or rather to put bluntly, the ability to be ‘managed’. The course itself, at the broad indignation’ of the critics is too general. But in the generality lies the key to understand the various facets of subjects, technology and even the arts. Management also attempts to explain broader contexts through frameworks, structures and helps to elucidate problems. Most importantly it introduces you to business models.

Business models are how we understand the world. They help

us to decipher what we observe and how we understand the various input - output models and the allied mental models. They are also useful in how we simplify complexity, why we consider some things more relevant than others, and how we reason.

It is not just about understand how things work and about managing the overtures and the outputs. We cannot keep all the details of the world in our brains, so we use models to simplify the complex into understandable and organizable chunks.

The subject also attempts to improve our quality of thinking, and also understand situations and problem dispassionately and objectively. The more mental frameworks you have — the bigger your toolbox — the more likely you are to have the right models to see reality. It turns out that when it comes to improving your ability to make decisions variety matters.

It also emphasises the understanding of the technology experts. While this is not a treatise to demean the need of astute

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minds in various files of science, the broader perspective of connections and serendipity often occurs to someone looking at it from a higher plane. The connections between the science and how one communicates and take it to the end consumer is often lost on the expert.

Eminent thinker and writer Shane Parrish has a great reference – Imagine how a botanist looks at a forest they may focus on the ecosystem, an environmentalist sees the impact of climate change, a forestry engineer the state of the tree growth, a business person the value of the land.

None are wrong, but neither are any of them able to describe the full scope of the forest. Sharing knowledge, or learning the basics of the other disciplines, would lead to a more well-rounded understanding that would allow for better initial decisions about managing the forest. Management creates the context to understand it from a business problem, its solution and the broader benefit to the society and the last mile of every citizen.

In a famous speech in the 1990s, Charlie Munger, the Sigiriya Rock Fortress, famous colleague of Warren the Temple of the Tooth, Buffet and seminal author, summed up the approach to Adam’s Peak, Yala Napractical wisdom through untional Park and Arugam derstanding business models by saying: “Well, the first rule Bay are the main tourist is that you can’t really know attractions in the Indian anything if you just remember isolated facts and try and bang ocean Island country of ’em back. If the facts don’t Sri Lanka. hang together on a latticework of theory, you don’t have them in a usable form. You’ve got to have models in your head. And you’ve got to array your experience both vicarious and direct on this latticework of models. You may have noticed students who just try to remember and pound back what is remembered. Well, they fail in school and in life.

You’ve got to hang experience on a latticework of models in your head.”

Eventually, it helps you learn and understand a breadth of issues. Second, it’s articulated very simply. The core of it, it is fairly clear and well articulate through the writings of eminent thinkers across subjects. It is not technical, and it’s not using language that is difficult to understand.

Even our policymakers and our legislators would be able to read this and understand something and get something valuable out of it. So, in that sense, it is perhaps a subject that needs to read, understand and most importantly executed on the ground!

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FINANCE

Adv Sherry Samuel Oommen This article is authored by Adv Sherry Samuel Oommen. Adv Oommen, who specializes in constitution, tax and corporate laws has also cleared the final exams of the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India. He has also completed his Masters Degree in Commerce, apart from obtaining a Post Graduate Diploma in Business and Corporate Laws from Symbiosis Pune. The views expressly are personal and should not be construed as a legal opinion.sherryoommen@nashcp.com.

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It is now judicially settled that orders passed against the principles of natural justice is a nullity. Despite the existence of these rules, it is quite disconcerting how authorities display their growing hegemony and a totally disregard to the rules.

The faith of the citizenry can only be restored if those that execute the law, follow it in its true spirit.

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he issue concerning a person’s life and liberty has been a topic of public debate. It would not be a highfalutin statement to state that the dissenting views of Justice Khanna is possibly the only saving grace in the judgment of the Hon’ble Supreme Court in the case of ADM Jabalpur Vs Shivakant Shukla (1976) 2 SCC 521. Scholars argue that this was a judgment which clearly displayed the highest “hallmark” of judicial deference to the Executive, an aspect that would endanger any democracy.

The issue before the Hon’ble Supreme Court was whether during Emergency, fundamental rights available to a citizen when Emergency is proclaimed and in such a situation would a writ of habeas corpus lie. The Hon’ble Supreme Court held by a 4:1 majority that during Emergency, fundamental rights were not available to the citizens and thus no petition could be filed before the High Court seeking a writ of habeas corpus. History would endorse the fact that the dissenting views of Justice Khanna in the said judgment regarding a citizens’ inalienable right to life would make even an angel look dishevelled and dirty.

It has been reported that before Justice Khanna gave his dissenting judgment, he told his sister “I have prepared my judgment, which is going to cost me the Chief Justice-ship of India”. True to his prediction, his dissenting views angered the Government of the day leading to him

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being superseded by Justice Beg as the Chief Justice of India despite being the senior-most judge of the Hon’ble Supreme Court. The views of Justice Khanna, albeit ahead of his times, is indeed noteworthy and a tribute to way the interpretation of the Constitution of India has evolved. I have extracted a few paragraphs from the said judgment: “The effect of the suspension of the right to move any court for the enforcement of the right conferred

by Article 21, in my opinion, is that when a petition is filed in a court, the court would have to proceed upon the basis that no reliance can be placed upon that article for obtaining relief from the court during the period of emergency. Question then arises as to whether the rule that no one shall be deprived of his life or personal liberty without the authority of law still survives during the period of emergency despite the Presidential Order suspending the right to move any court for the enforcement of the right contained in Article 21. The answer to this question is linked with the answer to the question as to whether Article 21 is the sole repository of the right to life and personal liberty. After giving the matter my earnest consideration, I am of the opinion that Article 21 cannot be considered to be the sole repository of the right to life and personal liberty. The right to life and personal liberty is the most precious right of human beings in civilised societies governed by the rule of law. Many mod-

RIGHT TO LIBERTYA RIGHT TOO PRECIOUS

ern Constitutions incorporate certain fundamental rights, including the one relating to personal freedom. According to Blackstone, the absolute rights of Englishmen were the rights of personal security, personal liberty and private property. The American Declaration of Independence (1776) states that all men are created equal, and among their inalienable rights are life, liberty, and the pursuit of happiness.“

Justice Khanna noted further:

“The question is not wheth-

er there can be curtailment of personal liberty when there is threat to the security of the State. The question is whether the laws speaking through the authority of the courts shall be absolutely silenced and rendered mute because of such threat. The chances of an innocent person being detained under a law providing for preventive detention on the subject satisfaction are much greater compared to the possibility of an innocent person being convicted at trial in a court of law.

It would be a matter of melancholy reflections if the courts

were to stay their hand and countenance laxity or condone lapses in relation to compliance with requirements prescribed by law for preventive detention.”

It took more than four decades for the Hon’ble Supreme Court to uphold the dissenting views of Justice Khanna. In a 9 Bench Judgment of the Hon’ble Supreme Court in the case of KS Puttaswamy and Another (2017) 10 SCC 1 overruled its earlier judgment in the case of ADM Jabalpur, thereby upholding the views of Justice Khanna. A few excerpts from the judgment in the case of Puttaswamy is extracted below:

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33

FINANCE “Khanna, J was clearly right in holding that the recognition of the right of life and personal liberty under the Constitution does not denude the existence of that right apart from it nor can there be a fatuous assumption that in adopting the Constitution, the people of India surrendered the most precious aspect of human persona, life, liberty and freedom to the State on whose mercy these rights would depend.

Such construct is contrary to the basic foundation of the Rule of law which imposes restraint upon the powers vested in the modern state when it deals with liberties of an individual. The power of the Court to issue a writ of habeas corpus is a precious and undeniable feature of the rule of law”.

Quite recently, the Hon’ble Supreme Court in the case of Arnab Manoranjan Goswami 2020 SCC Online SC SC 964 upheld the right to liberty and the duty cast on the courts to ensure the expansion of the footprint of liberty. The said judgment reminds every court to remember and ensure Lord Den-

34

ning’s powerful invocation in the first Hamlyn Lecture titled “Freedom under Law”: “When one of the judges takes seat, there is one application which by long tradition has priority over all others.

The counsel has but to say “My Lord, I have an application which concerns the liberty of the subject, and forthwith the judge would put all other matters aside and hear it.”

The abuse of power has been an aspect that has affected citizenry in general. In a recent judgment, the Bombay High Court in the case of Kangana Ranaut (Writ Petition No 3011 of 2020) strongly deprecated the action of the Municipal Corporation of Greater Mumbai for its breach of public duty, as it was saturated with malice both in fact and in law. Pertinently, the Hon’ble Supreme Court in the case of United Air Travel Services (2018) 8 SCC 141 had ordered payment of damages with a view of providing relief of making “monetary amends” under the public law for

December - January 2021

the wrong done due to the breach of public duty of not protecting the fundamental rights of the citizen.

Further, the Supreme Court in the case of Sunbeam High Tech Developers 2019 SCC Online SC 1389 ordered that such damages should be recovered from the concerned officials in the Government.

It is indeed saddening to note a trend of Governments acting in a manner betraying the fundamental rights of the citizen. The duty of acting in a manner respecting the fundamental rights of an individual is not merely an aspect to be considered by the judiciary but also the Executive, as well. One would only hope and pray that the true spirit of the Constitution is adhered and respected to by all the pillars of democracy. Further, to ensure that the rights of a citizen are paramount, there should emerge a trend where compensation if awarded by the Courts, should be recovered from the concerned erring officials rather than from the public exchequer

HEALTH

Dr Arun Oommen

MBBS, MS (Gen Surg), Mch( Neurosurgery), MRCSEd, MBA ConsultantNeurosurgeon, VPS Lakeshore Hospital Kochi, India

Adolescence is the age between adulthood and childhood. Teenagers are often confused about their role and are torn between their responsibilities as growing adults and their desires as children.

Facts about Alzheimer's disease

A

lzheimer's disease (AD), accounts for 60% to 70% of cases of dementia. It was first described by, German psychiatrist and pathologist Alois Alzheimer in 1906. It is a chronic neurodegenerative disease that usually starts slowly and gets worse over time. The most common early symptom is difficulty in remembering recent events (short-term memory loss). As the disease advances, symptoms can include problems with language, disorientation (including easily getting lost), mood swings, loss of motivation, not managing selfcare, and behavioral issues. As a person's condition declines, they often withdraw from family and society.

Gradually, bodily functions are lost, ultimately leading to death. Although the speed of progression can vary, the average life expectancy follow-

36

ing diagnosis is three to nine years.

In 2010, there were between 21 and 35 million people worldwide with AD. It most often begins in people over 65 years of age, although 4% to 5% of cases are early-onset Alzheimer's which begin before this.

In India the number of people with AD and other dementias is increasing every year because of the steady growth in the older population resulting in an estimated increase of twofold by 2030 and threefold by 2050 in developed countries.

Causes

The cause of Alzheimer's disease is poorly understood. Alzheimer's disease results from a combination of genetic, lifestyle and environmental factors that affect the brain over time. About 70% of the risk is believed to be genetic with many genes usually involved. The genetic herit-

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ability of Alzheimer's disease based on reviews of twin and family studies, range from 49% to 79%. Most cases of Alzheimer's disease do not exhibit autosomal-dominant inheritance and are termed sporadic AD. Around 0.1% of the cases are familial forms of autosomal (not sex-linked) dominant inheritance, which have an onset before age 65. This form of the disease is known as early onset familial Alzheimer's disease.

Other risk factors include a history of head injuries, depression, Downs syndrome, smoking, hypercholesterolemia, obesity or hypertension. The disease process is associated with plaques and tangles in the brain. Many researches say that extracellular amyloid beta (Aβ) deposits are the fundamental cause of the disease. Another hypothesis says AD is caused by reduced synthesis

of the neurotransmitter acetylcholine. Herpes simplex virus type 1 has been proposed to play a causative role in people carrying the susceptible versions of the apoE gene.

The cellular homeostasis of ionic copper, iron, and zinc is disrupted in AD, there is an increased risk of developing AD with environmental factors such as the intake of metals, particularly aluminium. Systemic markers of the innate immune system are risk factors for late-onset AD. Another hypothesis asserts that the disease may be caused by agerelated myelin breakdown in the brain. Iron released during myelin breakdown is hypothesized to cause further damage. AD individuals show 70% loss of locus coeruleus cells that provide norepinephrine (an endogenous anti-inflammatory

agent in the microenvironment around the neurons, glial cells, and blood vessels in the neocortex and hippocampus). There is tentative evidence that exposure to air pollution may be a contributing factor to the development of Alzheimer's disease.

Neuropathology

Alzheimer's disease is characterized by loss of neurons and synapses in the cerebral cortex and certain subcortical regions. This loss results in gross atrophy of the affected regions, including degeneration in the temporal lobe and parietal lobe, and parts of the frontal cortex and cingulate gyrus. Both amyloid plaques and neurofibrillary tangles are clearly visible by microscopy in brains of those afflicted by AD. Accumulation of aggregated amyloid fibrils, which are believed to be the toxic form of the protein responsible for disrupt-

ing the cell's calcium ion homeostasis, induces programmed cell death.

Various inflammatory processes and cytokines may also have a role in the pathology of Alzheimer' disease.

Diagnosis

Alzheimer's disease is usually diagnosed based on the person's medical history, history from relatives, and behavioral observations.

The presence of characteristic neurological and neuropsychological features and the absence of alternative conditions are supportive. Advanced medical imaging with computed tomography (CT) or magnetic resonance imaging (MRI), and with single-photon emission computed tomography (SPECT) or positron emission tomography (PET) can be used to help exclude other cerebral pathology or subtypes of dementia.

The diagnosis can be confirmed with

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37

HEALTH

very high accuracy post-mortem when brain material is available and can be examined histologically.

show a reduced risk for Alzheimer's disease. Physical activity is also associated with a reduced risk of AD.

Early diagnosis

Diet

Emphasis in Alzheimer's research has been placed on diagnosing the condition before symptoms begin. One such test involves the analysis of cerebrospinal fluid for beta-amyloid or tau proteins, both total tau protein and phosphorylated tauprotein concentrations. Searching for these proteins using a spinal tap can predict the onset of Alzheimer's with a sensitivity of between 94% and 100%. When used in conjunction with existing neuroimaging techniques, doctors can identify people with significant memory loss who are already developing the disease.

People who eat a healthy diet have a lower risk of AD and a Mediterranean diet may improve outcomes in those with the disease.

Those who eat a diet high in saturated fats and simple carbohydrates (mono- and disaccharide) have a higher risk.

There is limited evidence that light to moderate use of alcohol, particularly red wine, is associated with lower risk of AD. There is tentative evidence that caffeine may be

Prevention

At present, there is no definitive evidence to support that any particular measure is effective in preventing AD. Epidemiological studies have proposed relationships between certain modifiable factors, such as diet, cardiovascular risk, pharmaceutical products, or intellectual activities (playing chess), socializing among others, and a population's likelihood of developing AD. Only further research, including clinical trials, will reveal whether these factors can help to prevent AD.

Medications

Although cardiovascular risk factors, such as hypercholesterolemia, hypertension, diabetes, and smoking, are associated with a higher risk of onset and course of AD, statins, which are cholesterol lowering drugs, have not been effective in preventing or improving the course of the disease.

Long-term usage of non-steroidal anti-inflammatory drugs (reduce inflammation related to amyloid plaques) is associated with a reduced likelihood of developing AD. No prevention trial has been completed.

Lifestyle

People who engage in intellectual activities such as reading, playing board games, completing crossword puzzles, playing musical instruments, or regular social interaction

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Sigiriya Rock Fortress, the Temple of the Tooth, Adam’s Peak, Yala National Park and Arugam Bay are the main tourist attractions in the Indian ocean Island country of Sri Lanka.

protective. A number of foods high in flavonoids such as cocoa, red wine, and tea may decrease the risk of AD. Reviews on the use of vitamins and minerals have not found enough consistent evidence to recommend them. This includes vitamin A C E, selenium, zinc, and folic acid with or without vitamin B12. In those already affected with AD adding docosahexaenoic acid, an omega-3 fatty acid, to the diet has not been found to slow decline. There is inconsistent and unconvincing evidence that ginkgo has any positive effect on cognitive impairment and dementia.

Management

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There is no cure for Alzheimer's

disease; available treatments offer relatively small symptomatic benefit but remain palliative in nature. Current treatments can be divided into pharmaceutical, psychosocial and care giving.

Medications

Five medications are currently used to treat the cognitive problems of AD: four are acetylcholinesterase inhibitors (tacrine, rivastigmine, galantamine and donepezil) and the other (memantine) is an NMDA receptor antagonist. The benefit from their use is small. No medication has been clearly shown to delay or halt the progression of the disease.

Only donepezil is approved for treatment of advanced AD dementia.

Memantine acts on the glutamatergic system by blocking NMDA receptors and inhibiting their overstimulation by glutamate. Memantine has been shown to have a small benefit in the treatment of Alzheimer's disease. Antipsychotic drugs are modestly useful in reducing aggression and psychosis in Alzheimer's disease with behavioral problems,

Psychosocial intervention

Psychosocial interventions are used as an adjunct to pharmaceutical treatment and can be classified within behavior, emotion, cognition or stimulation oriented approaches.

Behavioral interventions attempt to identify and reduce the antecedents and consequences of problem behaviors. This approach has not shown success in improving overall functioning, but can help to reduce some specific problem behaviors, such as incontinence.

Emotion-oriented interventions include reminiscence therapy, validation therapy, supportive psychotherapy, sensory integration, also called snoezelen, and simulated presence therapy. Reminiscence therapy (RT) involves the discussion of past experiences individually or in group, many times with the aid of photographs, household items, music and sound recordings, or other familiar items from the past. it may be beneficial for cognition and mood.

Simulated presence therapy (SPT) is based on attachment theories and involves playing a recording with

voices of the closest relatives of the person with Alzheimer's disease. There is partial evidence indicating that SPT may reduce challenging behaviours.

Validation therapy is based on acceptance of the reality and personal truth of another's experience, while sensory integration is based on exercises aimed to stimulate senses.

The aim of cognition-oriented treatments, which include reality orientation and cognitive retraining, is the reduction of cognitive deficits. Reality orientation consists in the presentation of information about time, place or person to ease the understanding of the person about its surroundings and his or her place in them. Cognitive retraining tries to improve impaired capacities by exercitation of mental abilities.

Stimulation-oriented treatments include art, music and pet therapies, exercise, and any other kind of recreational activities. Stimulation has modest support for improving behavior, mood, and, to a lesser extent, function.

Caregiving

Since Alzheimer's has no cure and it gradually renders people incapable of tending for their own needs, caregiving essentially is the treatment and must be carefully managed over the course of the disease.

During the early and moderate stages, modifications to the living environment and lifestyle can increase patient safety and reduce caretaker burden.

If eating becomes problematic, food will need to be prepared in smaller pieces or even pureed.

When swallowing difficulties arise, the use of feeding tubes may be required. The use of physical restraints is rarely indicated in any stage of the disease, although there are situations when they are necessary to prevent harm to the person with AD or their caregivers. As the disease progresses, different medical issues can appear, such as oral and dental disease, pressure ulcers, malnutrition, hygiene problems, or respiratory, skin, or eye infections. Careful management can prevent them, while professional treatment is

needed when they do arise.

During the final stages of the disease, treatment is centred on relieving discomfort until death

Prognosis

The early stages of Alzheimer's disease are difficult to diagnose. Life expectancy of the population with the disease is reduced. The mean life expectancy following diagnosis is approximately six years. Fewer than 3% of people live more than fourteen years. Disease features significantly associated with reduced survival are an increased severity of cognitive impairment, decreased functional level, history of falls, and disturbances in the neurological examination.

Other coincident diseases such as heart problems, diabetes or history of alcohol abuse are also related with shortened survival.

Men have a less favourable survival prognosis than women.

The disease is the underlying cause of death in 68% of all cases. Pneumonia and dehydration are the most frequent immediate causes of death brought by Alzheimers diseaseď Ź

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39

FARMER; I FIGHT; FUTURE

ndia is actually the land of farmers. A significant portion of the country’s population depends solely on agriculture for their livelihood. At present, agriculture is not a lucrative employment option. It clearly implies that a large portion of those who depend on agriculture is in poverty.

The central government has repeatedly assured that it would do everything possible to double the income of farmers.

It has even repeated the same point in the Parliament several times.

It recently introduced three bills in the area of agriculture. The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020, the Farming Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and the Essential Commodities (Amendment) Bill, 2020 were promoted as an attempt to help farmers. The government said that the bills would liberate farmers.

The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill (Farm Bill One) introduces the provision of legal agreement into the sector. The bill empowers farmers to bring their business relation with businessmen under the protection of law with the help of legal agreements. It bestows both farmers and businessmen more negotiation power. It ensures both farmers and

ď ŹVignesh S G

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December - January 2021

businessmen get the right benefit from the business.

On one hand, it makes sure farmers do not make compromises on the quality of products they produce. On the other hand, it ensures businessmen do not cheat farmers by denying the latter the right to fair pay. In simple words, the farm bill one paves way for the promotion of contract farming method.

The Farming Produce Trade and Commerce (Promotion and Facilitation) Bill (Farm Bill Two) deals with the matter of selling farm products outside the premises of Mandis. Earlier, it was mandatory for farmers to sell their products (not all, but certain products) through the Agricultural Produce Market Committees. As Agriculture is a state subject, these committees were managed by states.

The arrangement even enabled the states to garner a small amount of revenue from the business.

The revenue incurred were majorly used to develop the infrastructure of the APMCs. In certain states – mainly in the top agriculture states, the revenue generated from their APMCs were earmarked to develop their rural infrastructure. The farm bill two has watered down the framework. It removes the clause which restricts farmers free access to private markets by making it compulsory for them to sell their products (not all, but certain products) exclusively through APMCs. It offers farmers the right

to sell their products anywhere in the country. Simply, it opens up the platform for competition. The bill enables farmers to get best price for their products.

The Essential Commodities Bill (Amendment) Bill (Farm Bill Three) is not a newly introduced bill. It is actually an amendment to the existing bill. The bill deals with the matter of essential commodities. It is illegal to stoke certain goods, which come under the essential commodity list, beyond certain limits. It is aimed to avoid hording. What the amended bill does is it removes certain commodities from the essential commodity list. Not only does the bill removes certain goods from the list, but also it assures that the inclusion of more perishable and nonperishable commodities into the list would not happen if there are no unwarranted emergencies such as natural calamities, price fluctuation and war. The bill also sets two main conditions on how the government should react in the time of price fluctuation. The bill allows the government to interfere in the matter of pricing, if there is a fifty per cent price rise in the case of non-perishable commodities, and if there is a one hundred per cent price rise in the case of perishable commodities.

In a sense, the bill enables farmers generate more income from their goods, as it removes certain restrictions which make it nearly impossible for them to stoke their products until they receive the right pay.

In a general sense, all the three bills sound impressive.

The ongoing protest in the outskirts of Delhi, the National Capital, indicates the bills have not gone well among the farming community of the country – especially large-scale farmers in the northern region of the country such as Uttar Pradesh, Haryana and Punjab.

Tens of thousands of farmers have joined a protect march organised by farmers’ organisations to express their protect against the bills.

They have demanded the withdrawal of the bills. Though the government has completed at least four rounds of discussions with the protesters, and offered to amend several provisions of the bills, the protesters have declined to pull back from their ultimate demand that the bills should be withdrawn completely at the earliest.

The bills have been contested on multiple grounds. Primarily, it has been dismissed as anti-farmer and pro-corporate, as it has ample provisions to promote contract farming, hoarding and private market. Though there is no mention of Minimum Support Price in the bills, the bills have been rejected mainly on the ground that the bills may dilute the provision of MSP in future.

It is important that the government should analyse what has gone wrong. It is high time to find a solution to the genuine concerns raised by a section of the farming commodity.

It is needless to say that there is a lack of clarity in certain clauses mentioned in the Bills. Had the government consulted all the stake-

holders in the right manner like what the government did when it developed the GST bill, it could have avoided the present embarrassment.

Anyway, the brilliance the government has demonstrated to listen to the concerns of farmers without preconditions is appreciable.

It is hoped that the government will reach a solution to the problem in the near future itself.

At the time of publishing this article, the protesters are preparing to conduct a national bandh. Many political and non-political organisations have come out publicly to support the protest.

Apart from the issues related to the bills, the protesters have also levelled several other issues such as stubble burning and electricity subsidy.

Recently, a foreign country expressed their concern about the ongoing protest. Undisputedly, it is unacceptable. India has rightly denounced the statement as an improper attempt to interfere in the internal matters of the country.

Not only the government but also the protesters has the responsibility to make sure that no anti-national force misuses the sentiment developed because of the protest in Haryana and Punjab.

“Agriculture is our wisest pursuit, because it will in the end contribute most to real wealth, good morals and happiness.”

Support Agriculture! Support Growth! Support Nation!

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SPIRITUAL ODYSSEY

Contentment

C

hildren, in order to truly succeed in life, it is essential to have contentment.

Contentment is the biggest wealth. If the poorest person in this world has contentment, he is the wealthiest. Without contentment, the richest person is the poorest.

So, try to be satisfied with what you have. Nothing external can provide us with lasting satisfaction. But if we can awaken inner contentment, we won’t need anything else.

Two sons were born to the same mother. One becomes a district collector and the other a clerk under him. Is it of any use if the son who becomes the clerk is sad about being a clerk? It would only bring him down. Being jealous of those above us and putting ourselves down is not going to help. If we think with discernment, however, we can find contentment in any situation. If we have inner contentment, material progress will come easily.

Once, in a village, lived an old man. He continuously fought with his neighbours. He also complained about anything and everything. He was never really happy or content.

As days passed, his behaviour and nature got worse. Because of this, the other people in his village would avoid him if they saw him coming.

Then, the old man turned 80.

Suddenly, an unbelievable change was seen in him. After that, he always appeared happy. He had no complaints or ill feelings towards anyone. He didn’t fight with anyone.

He would smilingly and lovingly talk to everyone. Seeing the change in the old man, all the villagers gathered around him and asked him what had happened.

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The old man replied, “Nothing special. For 80 years, I pursued worldly things for happiness and comfort. I blamed others for my sorrows and difficulties. But then I realised that it was pointless to pursue worldly comfort. I decided to think of hardship and fortune as one and the same and to enjoy life in the moment. From that day onwards, I became happy and content.”

We will never experience complete contentment from sense pleasure. After eating payasam, we may think we will never need payasam again. But after some

December - January 2021

time, we will just crave twice as much. Desires can never be destroyed through their fulfilment.

We must contemplate with discernment and overcome them. We must find happiness and contentment within. Only then can we attain perfection in life.

Amma, Sri Mata Amritanandamayi Devi

MOTIVATION

Dolly Neena

To succeed, one must know himself; One must have assessed his/her strengths and weaknesses, pros and cons. Because, in today’s world, if you need to grow, you need to lead.

Dolly Neena is founder of THE IGNIST, a training company born out of a noble cause and spirit.

She holds a decade long experience being a passionate mentor and entrepreneur.

B

usinesses keep evolving, adapting, innovating, diversifying and re-organising throughout their lifetime. Because business successes might not be permanent. Even though it is looked upon as a risk, Change is inevitable in business – it leads an organisation to growth and many other positive aspects; it allows a business to adapt to its environment and to improve its market position. Most of the times, we go around a needed change scenario, or are scared in order to avoid it. There are times like this pandemic then hit us and throw us off into a very uncomfortable zone

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December - January 2021

ARE ALL YOUR EGGS IN ONE BASKET? where we have no other choice than to take unavoidable critical decisions. One word is particularly important here: Diversification.

“Do not put all your eggs in one basket” – Warren Buffet.

Last weeks had been a shock for most of us. As a business owner, you may be feeling overwhelmed and wonder-

ing whether your business will survive the next few months and beyond. A weak economy creates more problems. Most of us have thought about having diversified into Online activities when the world went standstill. It isn't just about surviving in a shifting landscape, it's also about growth.

Diversification is used by busi-

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45

MOTIVATION

nesses to help expand into markets and industries that you haven't currently explored. Diversification can prove to be the key to global expansion. It can impact the performance of the company – but sure can be controlled in time. The ability to manage both ends of the spectrum are critical for organisations that want to maintain a strong brand and strong relationships with customers as well as employees. As Jack Welch, the late CEO of GE once said, “Leaders emerge during trying times.” There are hundreds of uncertainties and questions arise in our hearts. What are the options for right diversifications? Online is a huge universe to choose from – which domains should we pitch into? How do we map out the diversification options we boiled down into?

Simply put, diversification refers to the expansion of business by entering into a completely new segment or investing in a business which is external to the scope of the company’s existing product line. It calls in for more effective management of product lines.

We will have to neglect the uneconomical products which are not serving good for us anymore. Businesses use this strategy for managing risk by potential threats during the economic slowdown. Business diversification (entering a new market or industry) is a huge undertaking and you may risk the core business slipping if the right resources are not in place – do not jump

46

into something without the right preparation. Gather diversification ideas – from mentors, clients, advisors, consultants, family, friends and clients. Diversification can help to spread risk and increase profitability, but it needs careful planning.

The word Market Penetration originally advises us to sell more of the existing products into the existing markets. As the pandemic hindered a lot of our physical movements this year, it has incurred enormous damage; then the only way out looked as if to go Online. It’s an entrepreneur’s game and decision then to decide what move he or she should make. Being able to or need to adapt to the changing market conditions is an absolute necessity now. To adapt, you need to see the opportunities available to you and your business currently. While any change can or might be disruptive in the beginning, it can prove to be increase revenue productivity and executive delivery in future.

So first you need to learn more about why and how you are to diversify.

There are six established types of diversification strategies: Horizontal diversification, Concentric diversification, Defensive diversification, Vertical diversification, Offensive diversification, Conglomerate diversification. You might even find other 20 of general variants.

Ask yourself whether the diversification domain make any financial sense.

Assess your current assets

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and identify how far you can survive. Know your core competencies and skills and determine how much productive and revenue-generating the new diversification would be. Identify the timelines and have a solid goal in place.

Know what you own and why you own it.

Diversification is one of the most important parts of portfolio management or investing. It is always advisable to never put all the eggs in one basket. A business is generally defined by using one of three frameworks: product, customer function, or core competencies. “There might be no more important change to consider than who you serve. Recent history proves just how quickly public sentiment can shift — from something as consequential as politics to something as mundane as where we spend our walking-around money.

Consider what had to happen between Apple announcing the original iPhone at an on-contract price of $500 — and tethering it to one of the more expensive cellular networks — and it’s becoming a worldwide sensation. Originally, it was for people who wanted a computer in their pocket and for whom price was no object. Now, more than a billion people have either supercomputers or cellphones in their pockets — depending on their level of comfort with technology.”

In order to understand what the future looks like for your business, you need to understand what the future looks like for your customers. Your customer base, how they communicate, their pain

points, their accessibility – these may all have changed within a short space of time, so revisit your business model and check if it’s still relevant or whether you need to rethink it. Understanding and communicating with your customers should be right at the top of your list of priorities. You might need to devote time and energy to finding new sources of income. Then you will have to keep an eye on what your competitor does too. Entrepreneurs need to think not about what their company does but about what it does better than its competitors.

Do checkout on some of the most diversified companies in the market like Johnson&Johnson, ITC, Berkshire Hathaway, TCS, The Walt Disney, 3M, GE, Honeywell, Reliance Industries, Hindustan Unilever, HDFC Bank etc. Due to multiple revenue streams from diverse sectors, these companies are considered to be very solid stock market performers and immune to the impact of swings in the share price.

If you are keeping all your eggs in one basket, but watch that basket closely.

If not, then Diversification can build resilience, minimal risk of loss, enhances risk adjusted return, enable economies of scale, increase your exposure/opportunities, and also increase the value of any business. Just need to be planned for success. So, during this economic slowdown, assess your eggs in your basket well. Nothing is dangerous if you know what you are doing. So, keep calm and diversify!

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GADGETS

Samsung A12

Rs. 15,790 (Approximately)

Android v10 (Q) OS

6.5 inches Display

48 MP + 5 MP + 2 MP + 2 MP

Quad Primary Cameras

8 MP Secondary Camera

3 GB RAM

32 GB Internal Memory

1 TB Expandable Memory

5000 mAh Battery Capacity

Samsung Galaxy A02s

Rs. 13,210 (Approximately) Android v10 (Q) OS 6.5 inches Display 13 MP + 2 MP + 2 MP Triple

Primary Cameras 5 MP Secondary Camera 3 GB RAM 32 GB Internal Memory 512 GB Expandable Memory 5000 mAh Battery Capacity

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December - January 2021

Vivo Y1s

Rs. 7,990 (Approximately) Android v10 (Q) OS 6.22 inches Display 13 MP Primary Camera 5 MP Secondary Camera 2 GB RAM 32 GB Internal Memory 256 GB Expandable Memory 4030 mAh Battery Capacity

Realme X7 Pro

Rs. 23,490 (Approximately) Android v10 (Q) OS 6.55 inches Display 64 MP + 8 MP + 2 MP + 2 MP

Primary Cameras 32 MP Secondary Camera 8 GB RAM 128 GB Internal Memory 4500 mAh Battery Capacity

December - January 2021

49

BEAUTY

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December - January 2021

Natural tips to reduce

pores on face

S

kin is a very sensitive order.

Compared to the others, the facial skin is the most sensitive part of the skin. People, thus, are very conscious about their facial skin. They often do not hesitate to go to any extent, if it is for their skin.

Our skin has a relation with the food we eat. It is said that our face can tell whether we are on the right track in terms of our daily diet.

If your skin has any heath problem, don’t look for its reason outside; most probably, you will get the answer, if you observe your diet carefully.

Skin pore is a very serious skin issue. It is not easy to specify exactly what is the reason for this skin condition. There are many reasons which can lead you to this skin condition. One of them is improper diet.

In some cases, the condition can be eliminated simply by bringing a smart change in the diet. Unfortunately, in the majority of cases, a medical intervention is inevitable.

The affected persons often prefer a chemical option over a natural option, as the majority of them get impatient when they confront this problem.

The reality is that though the chemical option provides a swift so-

lution to this skin problem it cannot provide an everlasting solution. It is needless to say where the everlasting solution to this problem lies.

Notably, the everlasting solution hinges on the natural option.

In this edition, certain natural methods to reduce the issue of skin pore is explored.

Cucumber and Lemon

Cucumber is a common vegetable. It is easily available. It is a rich source of several vitamins and minerals. What makes the vegetable suitable is its high silica content.

It is said that the right mixture of cucumber and lemon can do wonders on skin. Lemon is also popular for its nutritious and beautifying properties.

Take two tablespoons of cucumber juice. Add a table spoon of lemon juice into the cucumber juice. Mix them well. Dip a clear cotton ball into the mixture. Apply the mixture to your skin with the cotton ball. Let the mixture rest on your face until it dries out. Remove it with lukewarm water. Repeat this at least once in a week.

is highly beneficial. What makes the peel beneficial is its potassium content and lutein content.

Take a small piece of banana peel. Slowly rub the piece against your skin in a circular motion. Continue the process for at least ten to fifteen minutes. Let it stay on the face for few minutes. Wash the face with lukewarm water. Repeat the procedure at least twice a week for better result.

Turmeric

India’s connection with turmeric began centuries ago. It is not only a widely used spice, but also a popular cosmetic. It is popular for its anti-bacterial properties.

Take a tablespoon of turmeric.

Pour few drops of water into the turmeric powder. Make a thin paste. Apply the paste on your skin. Let the paste rest there for few minutes. Wash it off with lukewarm water. Repeat the procedure at least once a weekď Ź

Stay Beautiful! Stay Healthy!

Banana Peel

Banana is a very delicious fruit.

It is one of the cheapest fruit available in this part of the world. It is known for its nutritious value. It is said that even the peel of the fruit

Dr. Elizabath Chacko, MD-Kalpana International

Mob: 9388618112

December - January 2021

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TRAVELOGUE

Togo is a growing under-developed country at this juncture. Unlike other African countries, it maintains good relation with its neighbours, such as Ghana, Benin and Burkina Faso. It is a member of the United Nations, Organisation of Islamic Cooperation, African Union, Francophonie, South Atlantic Peace and Cooperation Zone, and the Economic Community of West African States.

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Togo: Rewriting the Destiny of Africa

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frica is called as the darkest continent of the world. The aforesaid statement reflects what the world thinks of this continent. Of course, the continent has many limitations. The colonial exploitation has made it incapable to get into the bus to modernisation. A considerable portion of the continent has not yet recovered from the injuries made to the country by the colonial masters. The illogical borderlines drawn by the colonial masters have led the con-

tinent to collapse. A significant section of the population of the continent has not yet achieved their basic rights such as the right to food, the right to water, the right to shelter and the right to clothing.

The aforesaid points are just a portion of the story.

There is a shade of Africa which tells a different story from what has been told above.

The shade shows the beautiful version of Africa. It showcases the African version of happiness. It does convey that it is not necessary to treat devel-

opment as high-rise buildings, eight-line roads and massive bridges. If a country has all the above mentioned but no happiness, then there is no point in investing in the above elements.

Certain African countries, it seems, know this fact clearly.

Togo is one of those countries.

Though the country is not as developed as other countries in the continent, it has consistently ranked high in terms of peace and stability. When many African countries have fallen under the clutches of

December - January 2021

53

TRAVELOGUE

Lome, Kpalime, Koutammakou, Agbodrafo and Togoville are the five main tourist destinations in this part of the world.

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December - January 2021

civil war (the major threat Africans face at this junction), the country has managed to keep disturbance at bay.

It is true that Togo has failed to achieve any significant infrastructure development so far. It is still heavily dependent on agriculture. Its economy is one of the weakest ones in the continent.

Notably, the said negatives don’t overshadow the positives the country has. Actually, it is the fact which makes this country a winner.

It is sure that this country will conquer great heights in future. It proudly possesses and nourishes what the rest of African lacks.

Togo is a growing underdeveloped country at this juncture. Unlike other African countries, it maintains good relation with its neighbours, such as Ghana, Benin and Burkina Faso. It is a member of the United Nations, Organisation of Islamic Cooperation, African Union, Francophonie, South Atlantic Peace and Cooperation Zone, and the Economic Community of West African States.

The country has a depressing history to tell, just like other African countries.

It is a victim of colonial ex-

ploitation.

The modern history of Togo began in 1884. It was the year in which the country was declared as a protectorate

by Germany. The World War One ended the rule of Germany and made France the new master of the land. The colonial France maintained its domination over the territory till 1960.

In the year 1960, the country breathed freedom.

It was the beginning. But the true start occurred when Gnassingbe Eyadema took the helm of the country through a military coup. The incident overturned the destiny of the country.

Until the year 1990, the anti-communist leader was an unchallenged leader. Post that year, his leadership faced some challenges as the country ditched its one-party policy to embrace a new, two-party policy. But Mr. Eyadema surmounted all the challenges and remained in the top seat until his death – which occurred in the year 2005.

Sadly, Togo has not yet recovered from the hangover of the Gnassingbe regime. The present leader of the country is Faure Gnassingbe, who is the son of Mr. Eyadema.

Since the year 2005, he is the President of Togo.

If the country has any downside at this moment, it is its addiction, as well as its blind affection to the Gnassingbe dynasty.

The future of Togo is as bright as the rays of sun. The real wealth of the land is its unique climatic condition. It is the element which makes its agriculture sector powerful. The same element is the one which brightens the future of its tourism sector.

This blessed land showcases beautiful beaches, amazing lagoons, stunning villages, mind-blowing architecture, breath-taking art and music, and unique cuisine.

Lome, Kpalime, Koutammakou, Agbodrafo and Togoville are the five main tourist destinations in this part of the world.

Lome is the capital of Togo. It is not only the administrative centre of the country, but also the industrial centre.

It is home to an oil refinery and a port. It is known to the west since the colonial period.

During the colonial period, it was a main trade hub. Still, it enjoys its dominance in terms of trade and commerce. It is home to several amazing mar-

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kets. The Grand Marche is one of them.

The main tourist attraction in this part of the country is the Togo National Museum, which speaks volumes about the rich culture and tradition of the country.

Kpalime is an extra-ordinary town situated in the West African country of Togo. It is situated in the Plateaux Region, which is surrounded by coco and coffee plantations.

A church built by the colonial Germany in the year 1913 is the main attraction in the region. The town is also home to an amazing craft centre, which sells traditional crafts such as woodcarving and batik. Apart from the aforesaid attractions, Mount Agou and Missahohe Forest are the main attractions. The town is famous for its backcountry and markets.

Koutammakou is also known as the Land of Batammariba. It is a UNESCO World Heritage Site situated in the northern region of the African country of Togo.

It is the best place to understand the life of the rural population of Togo. It showcases rustic mud houses.

Agbodrafo was a part of the Slave Coast. The town is situated between the Atlantic Ocean and Lake Togo. Still, there are several colonial ruins in this part of the country which can speak volumes on how brutal the African slave trade was. The house of slaves and the well of chained ones are some of the vestiges of that brutal past. The town is now famous for The Hotel le Lac, which is a famous resort situated in the town.

Togoville is an exceptional town situated in the northern shore of Lake Togo.

It is a calm and picturesque destination.

It is popular for its small beaches, silent shores and its amazing colonial buildings.

A colonial cathedral is the biggest attraction in this part of the country.

Togo is different in many ways. A trip to Togo can offer an experience which cannot be drawn from anywhere else.

This country deserves the attention of travellers. Let’s plan a trip to this country.

‘We Travel Not To Escape Life But For Life Not To Escape US.’

December - January 2021

57

AUTO REVIEW

Vivek Venugopal is one of India’s top automotivewriterswithover a decade’s experience in road-testing and reviewing cars.

He is currently the Editor of Quarter Mile magazine and a columnist in several leading magazines and newspapers. He is also a highly sought after consulting engineer and market analyst for many automobile manufacturers.

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For this generation, the ‘Elite’ name has been dropped and it has grown a fair bit in width around 41mm. It is also much stiffer using 40 percent stiffer materials while being 100 kilos lighter than before. It also has a Cd of 0.33, the lowest in its class.

H

yundai has had a great run in the premium hatchback category with the i20 for over 12 years. The way it offers the perfect blend of practicality, space, comfort, equipments and the ease to drive around, has appealed to many who often upgrade from one generation to the next. And now, there is a new one that wants to rewrite the i20 story.

Previous generations of the i20 have all been designed with the European markets in mind and they all looked the better for it. For this generation,

the ‘Elite’ name has been dropped and it has grown a fair bit in width around 41mm. It is also much stiffer using 40 percent stiffer materials while being 100 kilos lighter than before. It also has a Cd of 0.33, the lowest in its class.

While the car looks wide, the raised suspension spoils the stance. The styling is a bit on the daring side, with exaggerated lines and too many details fighting for attention. The side profile has two or more creases that feel too many. The front is set low, the rising belt line only accentuating that. The grille is massive

and has a lot of detail. There is so much of glass area with the entire C pillar being a quarter glass too. The rear styling is perhaps the most polarizing bit, with massive tail lamps angled downwards and connected by a strip. The styling may not to be everyone’s tastes, but as with most adventurous Hyundai designs, one will get used to it.

It’s a similar story with the interiors too. It’s not gonna blow you away with the design or quality and honestly, it doesn’t have the wow factor of the Grand i10 interiors which is from a lower segment. The front seats are quite supportive and with the dashboard set at a lower height, gives you a great view ahead. The rear seat feels much wider now and has more legroom than ever. Tall people will be comfortable here.

The dashboard has Audi inspired

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AUTO REVIEW

Of the three engines on offer, the 1.5 litre diesel is our pick. It’s easily the best in its class, with good drivability, ample refinement, adequate power and stunning fuel efficiency.

lines that continue along the air con vents, the instrumentation is now digital, although it’s not as good as the one in the international version, and has the reversed tacho that we are not fans of. The 10.25 inch touch screen is massive and has a lot of features like Android Auto, Apple Car Play, voice recognition, BlueLink, overthe-air map updates etc. The new i20 comes loaded with six airbags, auto headlamps, ESP, tyre pres-

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sure monitoring system, Bose audio with 7 speakers, sunroof, cruise control, hill assist, leatherette seats, air purifier, ambient lighting etc. However, it doesn’t get auto dimming rear view mirrors, rain sensing wipers, 60:40 split rear seat etc Of the three engines on offer, the 1.5 litre diesel is our pick.

It’s easily the best in its class, with good drivability, ample refinement, adequate power and stun-

ning fuel efficiency. It’s the same unit that powers a host of Hyundai and Kia models and though it is the 100bhp and 245Nm state of tune, it’s still impressive here in the new, lighter i20. The clutch is well weighted and the gears are effortless to slot into, making this a very easy car to drive in town. It pulls well off-boost, gets a bump in power as it nears 2000rpm and has steady power all the way to its 4800rpm redline. It does get noisy

at high revs though and it is best to upshift early, with this engine. Performance isn’t bad with 100kmph coming up in 11.2 seconds. We also briefly drove the 118bhp, 175Nm 1.0L turbo petrol with its dual clutch automatic, which is also good. The engine had adequate refinement for a 3cyl although there are some vibrations present. The dual clutch auto isn’t Volkswagen DSG quick, but does a good job.

Still, with the diesel being so refined and the torquey nature making it just as enjoyable, we quickly went back to that. The difference in price between petrol and diesel fuels might be negligible these days but the diesel still holds the advantage of efficiency and if you do a lot of highway miles, it makes sense to buy the diesel.

Another reason why we pre-

ferred the diesel is the way it handles. As is the case with most Hyundais, it runs a stiffer front setup.

And to top it off, this gen of the i20 has got the handling almost right, despite the comfy suspension setup and awful Ceat SecuraDrive tyres.

The steering is more precise than it has ever been in an i20, the chassis is quite stiffer this time and the car is very eager to turn in to corners displaying decent mechanical grip.

It has a newfound balance in corners where the old one used to understeer. Unlike the old i20s which had their front-end wash wide, when this one runs out of grip, all four wheels slide almost equally.

Don’t expect an out and out driver’s car, but it is slowly getting there and you would even enjoy this, with a set of good tyres and may be a slightly uprated suspension.

The ride quality is improved too and it has a big car feel to it.

Straight-line stability is good and it can deal with uneven surfaces quite well. There is very little bobbing motion and the damping seems to be well judged for the most part.

The car feels more mature in the way it absorbs bumps and potholes.

Braking is re-assuring, but it certainly begs for more grip from the tyres.

It’s easy to dismiss the i20 as being over-styled and overpriced but this one is quite impressive that for someone in the market for one, it deserves a proper look. It is spacious, comfortable, well equipped, it drives well, is adequately fast, very refined, efficient and what not. In the sea of compact SUVs that are swarming our market, it’s refreshing to see a good ‘car’ for a change

December - January 2021

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MOVIE REVIEW

Coolie No.1

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t is a comedy film directed by veteran filmmaker David Dhawan, who is known for his superhit comedy films such as Hero No. 1.

The film is the remake of the 1995 film of the same name, directed by the same director. Varun Dhawan, the son of the director, and Sara Ali Khan appear in the lead roles in the film. Apart from the two quintessential actors, Rajpal Yadav, who is known for his comedy roles, Paresh Rawal, who is popular for his character roles, and Sahil Vaid act in the lead roles. The screenplay is written

by Farhad Samji.

Durgamati

I

t is a horror film directed by acclaimed filmmaker G Ashok, who works predominantly in the Tollywood film industry. The film is the remake of Bhaagamathie, which was released in the year 2018. The film revolves around a woman IAS officer, who faces a serious corruption charge. It is a female oriented subject. Bhumi Pednekar acts as the IAS officer. Apart from Ms. Bhumi, Arshad Warsi, Mahie Gill, Jisshu Sengupta and Karan Kapadia appear in the lead roles. The Telugu version of the film, which was directed by the same director, was a super hit. In that film, Bahubali fame Anushka Shetty played the central role.

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December - January 2021

Nomadland

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t is a classic film directed by highly respected Chinese filmmaker Chloe Zhao, who is also a writer, screenwriter, editor and producer.

The film describes the story of a woman who embarks on a journey through the American West after losing everything to the recession.

Frances McDormand act as the main character. Apart from the exceptional actress, David Strathairn, Charlene Swankie, Douglas G Soul and Linda May appear in the film.

The screenplay, which is the real backbone of the film, is written by the director herself. What makes the film exceptional is the stunning performance of its main actors.

I’m Your Woman

I

t is a crime thriller directed by young American filmmaker Julia Hart, who is also a respected screenwriter. The film revolves around a woman, who is forced to go on the run with her baby to escape from the criminals, who are angry with her husband. Rachel Brosnahan acts as the central character. Apart from Ms. Rachel, Bill Heck, Arinze Kene, Frankie Faison and Marsha Stephanie Blake appear in the lead roles. The screenplay of the film is written by the director herself, with the support of Jordan Horowitz. The film can appeal all kinds of people.

There are several extra-ordinary thriller sequences in the film.

December - January 2021

63

BOOK REVIEW

The Crusader: How Modi Won 2019 Elections Author Price

: Randeep Sisodia : Rs. 199 (Paperback)

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he 2019 Indian General Election was a tight competition. In the election, the ruling NDA defeated the political challenge posed by the UPA and the others including the BSP, SP, JD(S) and DMK. The BJP singlehandedly crossed the simple majority mark. The election result left many perplexed. The book explains how Prime Minister Narendra Modi-led NDA wristed a surprising victory in the general election. The book is a research material. It is the product of a detailed study. The book is suitable for all kinds of readers, though it is more suitable for political enthusiasts who are interested in the topic of election study.

Trading Power: The Inside Story of How the People’s Mandate was Betrayed in the 2019 Maharashtra Election Author Price

T

: Priyam Gandhi-Mody : Rs. 360 (Paperback)

he 2019 Maharashtra election was extremely controversial. In the election, the BJP emerged as the single largest party. But it failed to secure a simple majority. In the aftermath of the election, the state witnessed several dramatic political developments. The developments culminated in the creation of a post-election alliance of Shiv Sena, NCP and Congress. Many criticised the alliance as a betrayal, as Shiv Sena, who had contested along with the BJP in the election, ditched the alliance partner for the CM post. The book throws light into the sensitive political developments which led to the emergence of the post-election alliance which rules the state. The book can appeal every one.

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BOOK REVIEW

How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need Author Price

: Bill Gates : Rs. 1,043 (Hardcover)

W

e know that the world is at the edge of a huge climate crisis. Though at this moment what we experience is a small version of the crisis, if the things are not attended at the right moment it may transform into a huge crisis in future. What we need urgently is a clear idea on how we can tackle the impending climate threat. The book shares the thoughts of Bill Gates about the issue of Climate Crisis. The book is not only important for its writer, but also special for the topic it handles. Every one who wonders how the problem of climate crisis can be addressed rightly must read this book to form a crystal-clear idea about the topic.

Powershift: India-China Relations in a Multipolar World Author Price

T

: Zorawar Daulet Singh : Rs. 513 (Hardcover)

he present world is largely a multi-polar world. The bilateral relation between India and China is a very sensitive topic. At present, India is not in a good relation with China. Considering the character of the present world, Delhi cannot simply avoid Beijing. In order to maintain the global political equilibrium, the South Asian superpower needs to cultivate a tactical relation with its communist neighbour. The book explores the topic of India-Chine Relation. It throws light to all the facets of the relation between the two most powerful countries of Asia. The book is suitable for all kinds of readers, though foreign relation enthusiasts may find the book more interesting.

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Printed On 09/ 12/ 2020

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