Impact of Global Recession on Indian Economy - Free Essay Example

Sample details Pages: 3 Words: 1044 Downloads: 6 Date added: 2017/09/16 Category Economics Essay Type Argumentative essay Did you like this example? Impact of global meltdown on Indian economy in 2009 Ashok Handoo | 08 Jan, 2009 With the advent of 2009, economists are debating the extent of the impact of global meltdown on the Indian economy in 2009. The predictions range between somewhat optimistic to fairly pessimistic. But the common thread running is that 2009 will be challenging, indeed. The Deputy Chairman of the Planning Commission Montek Singh Ahluwalia says the stimulus package part two is part of the government strategy to deal with the situation as it evolves. The fiscal and monetary measures taken under the second package are targeted to increase iquidity for pushing up demand, addressing the concerns of the industries and provide incentives to exporters that have been hit by the recessionary conditions. The first objective is aimed to be met by reducing the key interest rates further the CRR has been cut by point 5 percent, bringing it down to 5%. The repo and the reverse repo rates have been reduced by1% eac h, bringing them down to 5. 5 % and 4% respectively. All this will leave more funds with the banks to enable them to lend more at lower rates of interest. The second objective will be met by curbing cheap imports. That explains why certain duties on import of cement, Zinc and ferro-alloys, TMT bars etc. which were removed earlier to fight inflation, have been restored. The third objective to boost exports is hoped to be met by a twin stroke-increasing duty drawbacks, which the exporters claim against the taxes paid on inputs needed to manufacture the item for export and extend the duration of the scheme up to the end of December this year. The government is able to do this because the inflation rate is consistently falling for the last one and a half month. As Ashok Chawla Economic Affairs Secretary in the Finance Ministry observes the trend is clear. This will translate into lower interest rates. There is a possibility of inflation rate coming down to a tolerable 5% by th e end of the current financial year. Ahluwalia is confident that despite the gloomy international economic situation India will register growth rate of 7 %. But, he says, fiscal deficit will be higher than anticipated on account of the stimulus packages announced. The mid-year economic review presented in Parliament, projects its ncrease to 5 percent against the target of 2. 5 percent. The Reserve Bank of India Governor D Subbarao too admits that 2009 will be more challenging adding that the RBI will continue to do everything possible to mitigate the impact of global crisis on the Indian Economy. He however, says that the outlook for India and the world remains uncertain and the path of global crisis and its resolution remains unclear. That view is shared by the Nobel laureate Amartya Sen as well. Sen recently admitted that he did not have a ready answer to how deeply global meltdown will affect India in the New Year. The World Bank President Robert Zoellick predicts that the glo bal economy is likely to worsen in the first half of 2009. The IMF chief concurs with him. The RBI has made it more than clear that it has a road map to deal with the situation and steps will be taken as and when required. To quote Subbarao our approach has been to cross the river by feeling the stones. It has already lowered its key interest rates-the CRR to a 2 year low and the repo and reverse repo rates to an 8 year low. But there are areas of concern as well. Foreign investment flows have declined. The Commerce Minister Kamal Nath informed the Lok Sabha that FDI inflows between April and September 2008 showed an increasing trend each month in comparison to the same period in the previous year. But he cautioned that FDI flows to the developing nations would generally decline in 2009. He was however quick to add that the government has put in place a liberal policy which permits FDI up to 100 percent on the automatic route, in most sectors and activities. The other area of c oncern is that Indias industrial growth has declined for the first time in 15 ears. Since Industry accounts for about 25 percent of the country’s GDP it is bound to affect the growth rate. Exports declined by 9. 9% in November last which is also worrisome. The RBI in its report says there are downsize risks from Indias increasing global integration such as the sustained outflow of capital, financial contagion and slowing world growth. It corroborates Prime Ministers view that in a globalised world, we cannot pretend that we will not be affected by the crisis that has been created somewhere else. But it says that use of a ombination of instruments to absorb excessive pressure had helped cushion the impact on Indian economy. The silver lining is that since 50% of our GDP comes from the service sector, which is not affected much by the global recession, growth rate in the current year will end up around 7%. That is what the mid- year review estimates. Five years of nearly 4% far m growth and high domestic saving rate of 36% is seen as making that possible. That the government is alive to the situation is apparent through the measures it has been aking in association with the RBI from time to time. It has raised public expenditure by Rs. 20,000 crore through the first stimulus package announced on December 7. The RBI too injected Rs. 300,000 crore liquidity into the system through a series of cuts in rates. The second package will increase availability of funds with banks and non-banking financial companies by 75,000 crore. The state governments too have been allowed additional market borrowings of Rs. 30,000 crore. It is now for the Banks and the big industries to fulfill their share of responsibilities and nsure that the measures taken are effective. They need to move hand in hand with the government. Time and again, the Prime Minister has been assuring the people that despite the international environment the country has the capacity, ability and resilien ce to cope with the present global crisis. He has been citing the economic crisis of 1991 which Asia faced and which was more serious, but India overcame it efficiently. With steadfast commitments of all the players in the field we look forward to see India coming out of the present global crisis with minimum bruises. Don’t waste time! Our writers will create an original "Impact of Global Recession on Indian Economy" essay for you Create order

Definition and Examples of Cacophemisms in English

Cacophemism is a  word or expression thats  generally perceived as harsh, impolite, or offensive, although it may be used in a humorous context. It is similar to dysphemism, and a contrast with euphemism. Etymology is from the Greek, bad plus speech. Cacophemism, says Brian Mott, is a deliberate reaction against euphemism and involves intentional use of strong words, very often with the aim of shocking the audience or the person to whom they are addressed (Semantics and Translation for Spanish Learners of English, 2011). Examples and Observations A cruel or offensive dysphemism is a cacophemism (from Greek kakos bad), such as using it for a person: Is it coming again tonight?(Tom McArthur, The Oxford Companion to the English Language. Oxford University Press, 1992) How Neutral Terms Become CacophemismsWhen we use cacophemisms,....we do not necessarily speak ill of anything. Cacophemistic language is a rough and raw, blunt and vulgar way of saying anything — good, evil, or neutral — of a thing. Not all of it is obscene by any means; witness grub and duds for example. Some are extremely vulgar, but not quite obscene (that is, not quite categorically tabooed in polite society), likely to offend but not to shock, like puke, guts, fart, stink, belly, croak, and burp. A genuinely obscene word, in virtue of the taboo its utterance violates, is as cacophemistic as a word can be. . . .People naturally find some perfectly accurate descriptive terms unflattering and displeasing. It is therefore considered good manners for others to avoid these terms as much as possible, and when one cannot avoid speaking the unpleasant truth, to find descriptive synonyms that strike the ear as less blunt, though they say the same thing as the unflattering te rm. In this way, we generate a stream of euphemisms, in comparison to which the original descriptive term seems ever more coarse, until that term, originally neutral, becomes a cacophemism. The words fat and old are good examples of this process. It is now considered to be blunt almost to the point of uncouthness to refer to a fat person as fat. And while there are a few dysphemistic ways of saying the same thing (potbellied, fat-assed, lard-assed, gross), there are few other terms that are as cacophemistic now as the straightforward unadorned fat.(Joel Feinberg, Offense to Others. Oxford University Press, 1988) Rationalizing With Euphemisms and CacophemismEuphemism and cacophemism play a central role in rationalization. When we call someone a terrorist, we may be using a cacophemism — making an activity seem worse than it actually is. When we call the same person a freedom fighter, we may be using a euphemism — making the activity sound better than it really is. Either way, by using these words, we set ourselves up for rationalizing the harming of others.(Ronald A. Howard and Clinton D. Korver, Ethics for the Real World. Harvard Business Press, 2008) Cacophemisms and HumorA euphemism is generally no more than the triumph of squeamishness over reality: little person for dwarf, senior citizen for old man, disturbed for crazy, etc. Cacophemisms, on the other hand, tend to reflect an attitude of rough-and-ready good humor toward the person or object in question: egghead, grease monkey, quack, etc. A further difference between the two isms is that cacophemisms are more readily recognized for what they are; euphemisms tend to have acquired a wider  currency in normal parlance and hence to be accepted more unthinkingly by the listener.(Peter Bowler,  The Superior Persons Book of Words. David R. Godine, 1985)

Rhetorical Analysis Essay - 1097 Words

Freedom from Child Labor Through Women’s Rights â€Å"We have, in this country, two million children under the age of sixteen years who are earning their bread† (1-3). Throughout Florence Kelley’s speech to the convention of the National American Woman Suffrage Association, she emphasizes the injustice of child labor laws and the need for women to take a stand by fighting for the right to vote. Kelley is one of many inspirational leaders who fought for women’s rights. She reaches out to a group of women so that they might call to mind their right to petition. In doing so, Kelley is persuading the audience to fight for their right to vote to change child labor laws. Kelley uses several rhetorical devices such as imagery, diction, and pathos†¦show more content†¦Kelley continuously describes how young and innocent these children are so that the audience can better understand that this is no place for young children to be working. By using the racial word â€Å"white† to describe the girls Kelley is appealing to her audience, which is primarily upper class white women (29). In doing so, she shocks the audience into realizing this could be their children. Furthermore, Kelley declares, â€Å"nor is it only in the south† that this is happening, which suggests to the audience that this is a national issue and is probably occurring in more than just the six states she mentioned (36). Consequently, Kelley condemns the New Jersey legislature by using the word â€Å"shameful† in describing the repeal bill that allows girls as young as fourteen years of age to work all night (60). She calls these children â€Å"beasts of burden† to emphasize how the people in America no longer treat children as blessings, but as inhuman as â€Å"beasts,† as well as stating â€Å"of burden† to show that there is a great load that is overpowering young children (76). Furthermore, she explains how children have be en â€Å"robbed† of their education and socialization in school so they can be little slaves. Kelley uses the word â€Å"robbed† to emphasize that the right to education belongs to children, and is being stolen from them. Throughout this speech Kelley uses phrases such as â€Å"our socks,† â€Å"ourShow MoreRelatedThe Tipping Point: Rhetorical Analysis Essay813 Words   |  4 PagesThe Tipping Point: Rhetorical Analysis Throughout The Tipping Point, Malcolm Gladwell explains to his reader his ideas about drastic changes in society, and how they seem to occur so rapidly. In this particular selection, Gladwell emphasizes the purpose of â€Å"connectors†, saying that they have a â€Å"special gift for bringing the world together (page 38)†. Gladwell states that part of the reason information or trends spread like wildfire is the presence of a specific group of people. 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In specific, two of his speeches, â€Å"I have a Dream† and â€Å"Letter from a Birmingham Jail† Dr. King used the rhetorical devices of anaphora, allusion, and diction to relay his thoughts of what is right, and also as a way to build a common ground with his audience. Though the rhetorical devices are share d between the two speeches, there are also several differences.Read MoreRhetorical Analysis Of Andrew Sinek s Ted Presentation1263 Words   |  6 Pagesstock that s going in the opposite direction—down—from the most desired direction—up. This is a provocative opening that engages the audience right away. 2. Ask a series of rhetorical questions. A common way to engage the audience at the start is to ask a rhetorical question. Better still, start with a series of rhetorical questions. A good example of this tactic is Simon Sinek s TED presentation. He starts with: How do you explain when things don t go as we assumed? 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Creative Writing A Night Fishing Essay Example For Students

Creative Writing: A Night Fishing Essay It must have been 4 feet long and must have weighed at least 30 lbs. It was oneof the slimiest ones we ever caught. The tentacles were almost a foot long andthe scales where the size of emailprotected AYeah right, we believe you, (Pasteyour name here)emailprotectedWhile my peers were playing video games or hide-and-go-seek,(a friends name) and I were out ether exploring the unknown, or sleeping fromstaying out all night. None of the students in my sixth grade class Ashow andemailprotected believed me when I told them about the unforgettable experiences (afriends name) and I endeavored. To tell the truth, I didnt really want them tobelieve me. If one of them told my mom what (a friends name) and I did then ourlittle butts would have been grounded for a serious amount of time. The fishingstories that I told where true, all true. We will write a custom essay on Creative Writing: A Night Fishing specifically for you for only $16.38 $13.9/page Order now (a friends name) and I had gone on many explorations to far off places. We hadsneaking out at night down to such an art that if we could put it on paper thenit would be more famous then Leonardo da Vincis painting, The Last Supper. Wewould sometimes make dummy bodies that would lie lifeless all night undertightly nitid sheets.The Abig yellow emailprotected is where we met. From there wewould do whatever sounded like the most fun. Sometimes it was hanging out andeating ice cream all night. Other times we would go tick someone off by tee-peeing their house. And yes, there were even times when we would go fishing atthis lake that was out in the middle of nowhere. We called this lake the back-lake because it was the lake way in the back of the golf course. One night (afriends name) and I had an experience there that would shake us up for a longtime to come. The night started out like a lot of other nights. First we went to go eat someice-cream from Foster-Freeze, then we would get on our bicycles and pedal ourlittle butts all the way to the golf course. Once there, we would get on thisroad that golf carts use to drive around. The road was very windy. When wearrived we would just throw our bikes down and run like little rabbits down tothe lake. We would start casting as fast as we could. We would cast so fastthat I dont think we remembered to put bait on the hook. After the first fewminutes of fishing, (a friends name) and I would start getting into competitionswith each other. Who ever caught the most Large Mouth Bass one. I being theyounger one, usually lost. Later that night, we had an experience that would excite us for the rest of thenight. Howling Coyotes were a normal sound for two in the morning. But hearingthem get louder and louder was not. It was almost like a train, at first thereis just a quiet hum then the amplitude of the whistle would rise a little bituntil eventually the train could be seen. But seeing a train coming is not asbad as seeing a bunch of blood thirsty dogs running full speed at you in themiddle of the night. So, our instincts took for a little run. We ran and ranand ran and ran.I was the younger of the two of us and I always told (afriends name) that I was going to live longer then him. As (a friends name) gotfarther and farther ahead of me, I started to wonder if I would really livelonger then him. .uddb2553885b0482ba3125efa09423772 , .uddb2553885b0482ba3125efa09423772 .postImageUrl , .uddb2553885b0482ba3125efa09423772 .centered-text-area { min-height: 80px; position: relative; } .uddb2553885b0482ba3125efa09423772 , .uddb2553885b0482ba3125efa09423772:hover , .uddb2553885b0482ba3125efa09423772:visited , .uddb2553885b0482ba3125efa09423772:active { border:0!important; } .uddb2553885b0482ba3125efa09423772 .clearfix:after { content: ""; display: table; clear: both; } .uddb2553885b0482ba3125efa09423772 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uddb2553885b0482ba3125efa09423772:active , .uddb2553885b0482ba3125efa09423772:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uddb2553885b0482ba3125efa09423772 .centered-text-area { width: 100%; position: relative ; } .uddb2553885b0482ba3125efa09423772 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uddb2553885b0482ba3125efa09423772 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uddb2553885b0482ba3125efa09423772 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uddb2553885b0482ba3125efa09423772:hover .ctaButton { background-color: #34495E!important; } .uddb2553885b0482ba3125efa09423772 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uddb2553885b0482ba3125efa09423772 .uddb2553885b0482ba3125efa09423772-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uddb2553885b0482ba3125efa09423772:after { content: ""; display: block; clear: both; } READ: Diabetes EssayThe distance we ran was about a quarter mile. It did not seem like a quartermile though, it seemed to be more like a mile. I still wonder if we ran aroundin circles. I felt like one of those young wilder beasts that I always see getchased down by giant Lions on the Discovery channel.My body pumped so muchadrenalin in me that I felt like I could jump over a six foot fence. Well guesswhat happened, there was a six foot fence. I could not get over it by myself, Ihad to have (a friends name) stick his hands through the fence so I could getover. Behind the fence was someones backyard. We ran to the house and restednext to a large window to catch our breath. About ten minutes passed we caught a glimpse of a man getting a cup of coffee inthe middle of the night. We were sitting right under the kitchen window and thelight coming from inside lit our sox up like two flourescent beacons. I am gladhe did not see us. I could almost hear my dads belt snarl. After the man hadhis midnight coffee the lights went out. It was about four in the morning when the shrubs breakfast woke us up. We weresitting right in front of a two sprinklers. It took us about two seconds todepart out of the backyard. We went back to where we were fishing. All the hotdogs that we used for fishing bait were gone. It was OK that the dogs devouredour hot dogs because we were probably not going to fish in the morning, anyway. I learned that it is not always a good idea to think about my self. Just think,I could have been a giant hot dog. My entire body could of been used for asnack. We should all treat others how we wish they would treat us. (a friendsname) showed me that he did not only think about himself, he also though of me. If (a friends name) did not help me over the fence then I would have turned intochop-stewy, or more accurately, grade emailprotected chop-stewy. Although I didnt get everyone to believe my Ashow and emailprotected speech, I didundisputably get everyones absolute attention. For when I am 65 years old and am laying in a hospital bed and hear the heartmonitor go from a beep to a hum, I will end my journey to the Big-Bright-Lightwith the thought of my mom, my dad, my sister, my brother, my wife, and that onespecial best friend, (a friends name). And maybe, just maybe, I will be able togo fishing in a place and in a time that is oh so familiar once more in a placecalled haven. Category: English