In the midst of the debilitating issue of economic slowdown in India, the country is looking for ways to reduce the fiscal deficit. Initiatives like GST, infrastructure development, reducing bureaucracy and regulation, simplifying the tax code, insolvency and IBC, and recent corporate tax rate cut targeted towards economic reform, allow India to improve its growth trajectory for the better. However, even with all these efforts, it seems that the country is currently facing challenges to back its mandate. And in this situation, India’s business sector is facing flak in dealing with tax administration, resulting in limiting economic growth.
Despite the aggressive and inspiring initiatives towards green energy development in India, the country is still the 3rd biggest oil consumer in the world. With a consumption record of 4.69/million barrels per day, India is expected to join China in coming years to account for nearly 50% global oil demand. Now, that is a scary prediction for a country that is actively engaging in policy reformation, manufacturing sector and infrastructure development to increase green energy usage.
Why? Because as the dependence on oil increases it will give rise to the forex outflow, which could have been invested towards a speedier green energy adoption that promises to save billions on fossil fuel imports, create jobs, improve export demand, and restore climate degradation.
Shri Narendra Modi led BJP Government has carried out some transformational reforms in India by focusing on GST, infrastructure development, reducing bureaucracy and regulation, simplifying the tax code, insolvency, and IBC that helped India become a better-ranked business ready country and rebalanced the rights of promoters, banks, vendors. These developments have led India to become one of the fastest-growing economies in the world. Although previous predictions suggest that India’s Gross Domestic Product (GDP) had grown at 7.3% in FY 18-19 with a better prospect for the next fiscal, in June 2019, the figures revealed that the economy had been slowing down for nearly three quarters.
The pursuit for fulfillment, success, and acknowledgment is life and inspiration is the fuel that powers us to move forward in the face of mounting challenges. Although inspiration can derive from anything in the world, it helps to find inspiration through human connection. It is the opportunity to relate our life experiences with others, that invokes insight into the life and offers self-discovery. And that is why we are drawn to life stories of great and successful individuals. Immersing stories and personal accounts of people who have broken the monotony and made their own path can help us achieve emotional empowerment and makes it easier to find the best versions of ourselves.
It has always fascinated me to search and find the moment, the decision, the action that transcends a common man and makes their life story a guideline for those who aspire to soar. In this blog, I would like to discuss three of my favorite biographies that can offer insight into life, work, and choices that can add value and depth in one’s personal and professional life.
What it is that one needs the most to thrive in today’s complex and continuously changing world? Education, opportunity, will, practicality, positivity? All of that, yes! But there is something one needs to bind all of these characteristics together. And it’s mental and physical fortitude. As an entrepreneur, I was constantly questioning myself at the beginning of my career. I had enormous shoes to fill in and the ideologies I was brought up with were often too much to carry, amidst the stress.