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CULTURE AND ECONOMICS

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By Shrishti Singh, Kalindi College Since ancient times, the Indian lifestyle has been known to be enriched with the numerous economic activities of its people. There are various small activities in India that have their origins in the social, religious, and cultural proximity of the country. Religious activities may include the fees of a priest in conducting ceremonies while social activities may be festivals and ceremonies. These economic activities are all interwoven in intricate yet beautiful self- reliant areas of the Indian villages. Numerous socio-cultural traditions in India led to the formation of handicraft industries that have worldwide markets now. The market that Indians had before the invasion of the British was spread in all corners due to its rich artistry. This market temporarily stopped after the British invasion, but the post-independence government steadily tried to revamp that culture. A survey was conducted that showed that in 1995-96 alone, this cultural sector pr...
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AFTER 52 YEARS, UNEMPLOYMENT CLAIMS AT ITS LOWEST

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By Palak Mehta, Kalindi College To be precise, this is the record-breaking year in the history of the United States of America in terms of unemployment. After more than 52 years, the residents claiming unemployment or redundancy benefits have shrunk drastically. According to the U.S. Department of Labour on Thursday, the unemployment claims dropped by 43,000 making the figure 184,000 last week which is the lowest since September 1969. This is a sign of progress in labour markets in these times of pandemics. There was a decrease of 43,000 claims from the previous week, consistent with the govt agency, and below the 215,000 that had been expected during a Refinitiv poll of economists. Economists have cautioned that the data on claims is subject to seasonal fluctuations over the vacation period which will distort weekly readings. Ian Shepherdson, an economist at Pantheon Macroeconomics said “A correction next week seems likely, but the trend in claims clearly is falling rapidly, reflectin...
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A SELF MADE CRISIS

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By Nikita Bhardwaj, Kalindi College Imagine standing in long queues at a supermarket only for it to give you bread for a single rupee. Imagine having a job but your employer is leaving you on an arrear for months continuously. Or even worse, what would happen if all your savings turned to dust? The people of Turkey are striving to get through an exactly similar situation. They are finding it gruelling to make ends meet as even the prices of essential items like milk, bread, toilet paper are skyrocketing. But what led to such exorbitant levels of inflation in Turkey? The Turkish Lira (TYR) has plummeted to more than half of its value against the dollar over the past two years from 4.84 TYR against one dollar in 2018 to 14 TYR against a dollar in December 2021. Moreover, it has lost a whopping 40% of its value since the beginning of this year, becoming one of the worst performing currencies in the world. In 2014, it took 2 liras to buy a US dollar but now it takes 14 liras to buy a US do...
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STAGFLATION: ENEMY OF THE PAST OR WORRY OF THE PRESENT?

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By Ritika Yachna, Kalindi College As the time to say goodbye to 2021 is nearing, traders are saying hello to the anxiety of dealing with ‘stagflation’. A word that hasn’t been heard since the late 70s, an enemy that the world had long forgotten, is making a comeback. A massive increase in energy prices across the world, crimps in the supply chains, and rising unemployment has made the matters worse. ‘ Stagflation ’, a portmanteau of two words, ‘stagnation’ and ‘inflation’ refers to a sluggish economic period of low growth and increased inflation. Stagflation was first experienced in the United States in 1971 when President Richard Nixon made a major decision to take the US off the gold standard. This decision coaxed the decline of the dollar against other currencies, escalating the domestic inflation rate. The authorities went on to impose both wage and price control which contributed to the increasing spiral of tension. In 1973, the Arab members in OPEC seized the oil supply to the co...
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HAS THE PANDEMIC CHANGED OUR MONEY PSYCHOLOGY?

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By Nandita Rai, Kalindi College The world of behavioural economics studies how humans function around the commodity we so fervently call " money" . The idea behind this fast emerging field remains that human beings in fact are not spreadsheets and neither do our decisions come from formulas. Another recent discovery supporting this belief has suggested that even though the pandemic might be coming to an end we are very likely to be hit by a tsunami soon, the tsunami of wants . Wants that have increased after a year of no festivals and no outings and are more likely to increase as the deadly virus is believed to be in its final stages and as the ‘ no you can’t ” slowly transform into ‘ yes you can ’ with more than 70 percent of adults having at least one dose of the vaccine in India itself. This has led to numerous studies being conducted regarding the sudden urge that many of us are feeling to overspend, irrespective of our disposable income levels. As the next normal continu...
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BRIM OVER YOUR TUMMY WITH ONE CLICK

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By Aiman Muskan, Kalindi College Around a decade ago when we were kids ,we used to plan a dinner night in a restaurant every month with zeal and enthusiasm and now we are just a click away from ordering food from our favourite restaurants and getting it delivered at our doorsteps. What an evolution! Food delivery systems have made life so convenient for the busy and knackered urban Indians who would prefer ordering food to cooking at home. Affordable prices with a variety of choices, free home delivery, high discounts through promotional codes and many more exciting features add to the consumer utility while placing an online food order. The food delivery services are evolving and gaining popularity like never before. Nowadays, food delivery system has become a global market and its growth has tripled since a past few years. It has seen a considerable rise during covid 19 pandemic lockdowns when the restaurants were shut down but were delivering food through Swiggy ,Zomato ,food panda ...
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POWER SHORTAGE IN INDIA: AN EMERGING TENSION OR SUPERFLOUS PANIC?

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By Ambika, Kalindi College With its coal-fired power plants running extremely low on coal, India has found itself in the middle of a power crisis. The worsening horde on India’s coal supply pursues to trigger this power crisis further by creating an alarming effect on the world’s fastest expanding major economy. According to the Central Electricity Authority (CEA), an average of 3 days stock is left in half of the coal-fired power plants. 16 out of 135 coal-fired power plants had 0 coal stock. More than half of the plants are observant for outages. While utilities make up for about 75% of India's coal consumption, coal is believed to account for 70% of India's electricity output. India's industrial capacity demand has rushed after the second wave of Covid-19 pandemic. In the first 8 months of 2021 the country's power demand increased by 13.2%. Imports of coal become more costly as there is a broad price gap between lower domestic prices and huge global coal prices that ...
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