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Boycott Chinese Product Says CAIT

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On account of the continued border clash between China and India, even after 3 Indian Army men died. In the face-off that happened at the Galwan Valley in Eastern Ladakh, three army men, including a colonel rank officer, have sacrificed their lives. It turned violent on Monday with multiple casualties on both sides.

Following this military aggression of China, the Confederation of All India Traders (CAIT) has made a list of 450 imported goods that are made in China. It calls for nationwide aggressive boycotting of all these products and encourages purchasing All India products. India being one of the most influential traders of China, is sure to set up a massive loss to the Chinese economy.

Praveen Khandelwal, CAIT general secretary, announced that CAIT has decided to step up its nationwide boycott of Chinese imports from June 10 under the campaign ‘Bhartiya Samaan-Hamara Abhimaan,’ due to the border skirmishers.

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Currently, India imports about finished goods of worth Rs 5.25 lakh crore, i.e., $ 70 billion annually. However, CAIT aims to decrease the annual import by $13 billion or about Rs 1 lakh crore by December 2021.

CAIT has identified about 3000 finished goods belonging to 500 categories, that are even made indigenously by Indian manufacturers but are imported from China due to low cost. Now it is time for Indian goods to replace the Chinese. This can be done easily as it does not require any sophisticated technology, says a statement by CAIT. For those goods that we rely upon China for, we are proposing the Indian Manufacturers.

Raising the issue to Union Commerce Minister Piyush Goyal, CAIT has suggested to provide incentives and assistance to small-scale industries and start-ups.

The list released by the CAIT includes all types of daily products ranging from toys and textiles to electrical, electronics, and building hardware.

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Digital Marketer Aayush Rana all set to launch FirstBox

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Aayush Rana

Success not a day’s task but, eventually, the day comes when you keep following the right path. Aayush Rana is an example of how one can achieve the heights of success if one gives 100% to an idea and sticks to it until the seeds become the fruit-bearing tree. Aayush Rana had great affection for programming since his early childhood, and he is making his own websites since grade 11.

Aayush has founded many techs and news entertainment sites like FoxExclusive and Today in Bermuda, just to name a few. He also owns over 20 million audiences on various social media sites, which he occasionally used to promote other brands. Aayush Rana achieved a lot in so little time. But, the journey doesn’t end here.

The Creation Of KR Media and Launch of FirstBox by Aayush Rana :

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Aayush Rana is the owner of KR Media and also has launched various entertainment and tech news websites like FoxExclusive and Today in Bermuda, just to name a few. With the launch of KR Media, Aayush Rana began running social media campaigns for various brands that led to the increase in the influence of Aayush Rana in the field of marketing. This success is not a day’s journey, of course, and in the end, he ended up created digital strategies for a few of the top brands in the Indian market.

Aayush also used to be involved in the digital promotion of various Bollywood and regional artists.

The versatility of Aayush Rana has provided him with great fame, and now, he is one of the youngest marketers in our country. His plans of launching the online B2B e-commerce store, FirstBox, seem to be gathering quite a buzz from the whole market. With Narendra Dagar, Aayush Rana aims at conquering the B2B space and increase his influence among the small scale buyers with a low purchasing power. He plans to roll out FirstBox by the fourth quarter of 2021. He plans to keep no markup fees on the platform and will help buyers from small towns to easily purchase goods. The only charge they levy is the membership fees, that’s it.!

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We wish him the best of luck and hope he succeeds in his venture.

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First GST Council Meeting Post Lockdown: GST Revenue falls

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The first council Meeting regarding GST post the nationwide lockdown is held today at 11 am through video conferencing. However, no cut in tax rates is determined. The 40th council meeting includes Finance Minister Nirmala Sitharaman, Anurag Thakur, finance ministers of states & UTs, and senior government officers.

The business people are naturally expecting a fall in GST rates to cut down the loss suffered and high demand during the COVID-19 pandemic that has led to an economic slowdown, but the government is aiming in generating revenue as the GST falls short and for the compensation of states; and to provide relief measures to people.

Taxpayers can expect relief measures regarding the late old GST and input tax credit relaxation by inverted duty structure. GST data for April to May 2020 is yet to be produced. But the tax revenue collections have been severely hit.  Methods to manage these will be discussed in the meeting.

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The government has already suffered losses due to the GSTR-3B from February to May 2020. So now, the government will concentrate on generating funds for compensating the revenue loss of the states.

Several relief measures like tax returns regarding GST were announced during the lockdown, and the E-way payments were extended. Even filing GST return online was facilitated.

In the meeting, the Chief Minister of Uttar Pradesh, Yogi Adityanath, announced that the state government would take care of all its expenses of child laborers and their families in its Bal Shramik Vidya Yojana.

However, the gaming industry has been benefitted immensely since the onset of the lockdown due to the surge in the number of users.

The GST Council will plan to manage the revenue requirements, industry, and people’s needs. It has considered exempting direct taxes so as to encourage consumption, which will, in turn, increase the economy. The GST revenues will shoot up as a result of the State as well as the Central governments.

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The government has decided to refund individual taxes, levies, and duties outside PM Modi’s Atma Nirbhar Bharat package, such as VAT for fuel.

After the meeting ends, Finance Minister Nirmala Sitharaman will give out statements to the media at 12:45

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All You Need to Know About Insurances!

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Insurance is a way to protect yourself or your belongings from a financial loss, damage, or injuries that may occur due to unexpected catastrophes. It is basically buying a risk from a person in return for some initial money, called Premium, and spread the risk around a community. This makes the person insured and less burdened, free from tension, or fear of loss so that he can go about making more wealth.

What is Insurance?

Let us consider an example. Tom is a man possessing a super expensive car, and he is always afraid that the vehicle may get damaged from an accident or stolen. He is worried so that he approaches a friend Harry to seek help. He proposes that he pay an amount of 10,000 rupees to Harry as Premium, and when his car is actually met with a catastrophe, Harry has to buy Tom another car of the same model. Now, harry may go on to carry out the same proposal to another set of people, pooling the Premium, so that when one of then actually loses their car, he can buy them a new one from the pooled funds.

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In the above example, tom has to sign a contract that contains the terms and conditions of the insurance policy. He s called an insured or Policyholder. Harry, who transfers the risk is called the insurer or underwriter and may belong to an insurance company or insurance carrier.

Insurance has its roots in waterways trading. Early Chinese and Babylonian sea merchants used to insure their ships and goods against shipping risks like mid-way pirate attack or damage due to bad weather.

Modern insurances rose when the great city of London caught fire in 1666. It had ravaged about 13,000 homes. That was when the architect Sir Christopher Wren included an ‘Insurance Office’ in his plan of rebuilding.

The Lloyds of London actually emerged from a coffee shop in London where many merchants, sea traders, and business people hung out. While discussing their businesses, the idea of modern-day insurance came into play.

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Types of Insurances

  1. Auto Insurance

It is a type of insurance where a vehicle is insured against a loss. Its coverage includes traffic collision, bodily injury or property damage, cost of treatment of the driver and passengers due to injuries.

  1. Health insurance.

This type of insurance also contains dental insurance. It deals with policies that cover the cost of medical treatments. In many countries, it is a part of the employer’s benefits.

  1. Income Protection Insurance

This insurance is the kind of coverage given to people who suddenly become disabled and cannot work anymore due to any reason. In order to sustain their income, Disability insurance policies provide monthly support to help pay for the necessary needs as usual.

It is of two types: short-term, in case he recovers sooner, and long term.

  1. Casualty Insurance
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This insurance is against accidents (natural or human-made) and not pertaining to any specific object or person. It has a broad spectrum.

  1. Life insurance

It provides a monetary benefit to the deceased person’s family in either lump sum or annually.

  1. Property Insurance

This kind of insurance provides insurance against property against risks like fire, weather, theft, or natural calamity.

Why is Insurance Necessary?

If you own any property like a home or ground or a vehicle, you are obviously prone to be worried about their safety. Or are you a businessman holding a large corporate?

Insurance provides you safety for repairs and replacement of any damage that is covered in your policy for your home. Vehicles are safe against theft, damage from perils like fire and water. To maintain your current standards even after an unexpected catastrophe, health care cost, provide for your family after your death, insured vacations, etc.

Take an insurance policy today and lead a safe and secure life!

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