All posts by iamtoac


imageSource credit- THE HINDU

From a beggar of financial aid to one of the global economic powers, from a socialist economy to a capitalist inclined economy, from following a restrictive trade to practising a free trade, this transition has been dramatic. Dramatic yet progressive. It has not been an easy task. The LPG (liberalisation, privatisation, globalisation) reforms caused a myriad of changes in the economic structure of India.

Surprisingly, this was a reform taken by a PM who had been a socialist by heart and principles. This huge step was taken to ease the lump some debt that India owed to IMF. Devaluation of currency, foreign investments, and increased exports are some effects of the reforms.

Why the Indian government initiated these reforms-

Rajiv Gandhi was assassinated in 1991, this was also a time when the foreign debt was piling up and the investors lost confidence, which led to the Indian economy on a verge of economic bankruptcy. PV Narsimha Rao stepped up as the PM with Manmohan Singh as the Finance Minister(though an economist). The balance of payment crisis was a big concern to the government. The overvaluation of the currency had a gargantuan impact in the 1991 crisis.

This was not the only problem. The foreign reserves started vanishing so fast they were at such a point that it would last only for less than 3 weeks. The Gulf War made the BOP swell and the oil bill skyrocketed. All this led to decrease in exports which was supported by the fall in the USSR- a major trade ally of India at that time. The gross fiscal deficit rose against 12.7% of the GDP. This was a major problem as the productivity of the workforce and the growth was not enough to cater to the deficit. Redtapism, and bureaucratic hurdles caused in the low establishment of private industry firms. So, all these caused in the downfall of Indian economy. We see a big transition from socialist to a mixed economy.

What are some the major changes in the Indian economy post reforms-

The government had to take big steps like devaluation of currency, easing the rules and regulations for private sector industries and abolition of licence raj.

Currency Valuation-
These reforms led to freeing of the exchange rate. This was a huge step that the Indian economy took in reference to foreign investments. Rupee value is from then on determined by the market forces and a slight intervention of the central bank. Now India is well connected with the world due to healthy trade and investment. Ultimately, the exports increased for various goods due to depreciation in our currency. In the due course our depreciated currency may appreciate due to increased trade and connectivity.

Abolition of License Raj-
The term license Raj may not be a familiar term now, but it was extensively used before 1991. The government had control over the industries and the industries had to take permission for every change they made or every action they wanted to take in the course of its operation. Because of these strict rules Private Sector was limited to a very few industries and the productivity of these few was low when compared to the global progress. Post these reforms, the Monopolies and Restrictive Trade Practices Act(MRTP) was abolished- according to which the large scale companies had to comply with the Act when they plan on diversification or expansion. Furthermore, industrial licensing was eliminated in all except 18 industries(doesn’t even sum up to 20%).

Foreign Investment –
Foreign investments were almost nil prior the reform period. This was due to the unwelcoming policies adopted by institutions. However, after the easing of economic policies, 51% of the equity for a few industries was granted for foreign direct investment(FDI). It further rose to 74% and subsequently to 100% for a few industries. The government setup Foreign Investment Promotion Board(FIPB) which is a single clearance window for applications on FDI.

India’s trade found a new trajectory with the implementation of LPG reforms. India had a Foreign Exchange Regulation Act(FERA),-which imposed restrictions on outward flow and inward flow of currency- violating which was a criminal offence. Now, India has full current account convertibility; this means that rupee can be exchanged with other currencies to buy goods and services from other countries. India also has partial capital account convertibility. There was also rationalisation of tariffs on import goods and removal of restrictions pertaining to trade.

Socialistic to Mixed Economy-
Socialism started as a part of the Indian Independence Movement against the British. The common citizens were perplexed by the zamindars’, princely class’ and landed gentry’s dominance over the economy. From then to until 1991 the Indian economy remained socialist and as per the Constitution it still is. But, after the Soviet Union fall and Gulf War India’s economic outlook took a U- turn to a mixed economy. Privatisation marked this change. It holds good for a country with huge population like India, because the private sector takes care of most of the business aspects and government can focus on the mainstream economic problems.

Banking Sector-
Before 1991, Indian banking sector did not even have a shade of private entrepreneurship. The banks did not mention about their profits and losses. There have been significant changes in the cash reserve ratio(CRR) and statutory liquidity ratio(SLR) aftermath of the reforms. The banking sector is now more flexible, well regulated and suffices most of the financial needs of people.

Stock Markets-
Stock markets have been redefined after 1991. It found its ground through the major stock exchanges in our country like NSE and BSE. Many services related to this like Asset Management, Hedging Services, Investment Banking have started coming up. Employment generation has also been a major advantage of the stock market boost.


Have income inequalities been reduced? Are the poor people still suffering from something called poverty? Are all the middle class households immune to inflation? Can the poor farmers avail loans or credit whenever they need? Are all the children of this country educated? Is child labour still a problem? These are the questions we have to focus upon.

Yes, we are able to earn more. But, the income gap still persists the rich are able to earn more faster than the poor. Though, this holds good to some households. The Indian domestic industry especially the small and the micro enterprises are the worst hit due to globalisation. Most of the unskilled labourers still work for low wages in risky conditions. The real wages are low due to inflation rates and other macroeconomic factors.

There has been an overall progress, but it may not be progressive or advantageous for every person in the country. After all, we have to bear the opportunity cost of these reforms. Economics is so complex, everything is interrelated and interconnected. It may hold good for one but can lead to an adverse effect on the other.

Read more thoughtful articles by Hindu Reddy here!

How to save money


Happy Wednesday lovely people, hope your week is going well. So today, I would give you tips on how to save money.

Plan out your spending: know what you spend most money on set your priorities so you don’t waste money on unnecessary things.
Make your own gifts: Diying things will save you a ton of money because you can spend as little as £5 in making it instead of spending £30 in purchasing it and the person you give will appreciate it because you put so much time and effort.
Write a list before going shopping: this will help you to purchase only necessary things.
Learn to repair: there are some things that just need repairing instead of wasting money replacing it, you can just repair and save yourself some money.
Stay healthy: this will help you spend less in hospital bills, cigarettes, drugs,medications and probably insurance.
Cut down on electricity usage: turn off the lights, turn off the tv and go outside to read and enjoy nature or you can go for a walk.
Compare prices: walk around the mall and compare the prices of certain commodities so you can get it for the best possible price in order to save money.
Cook: to be honest, we waste our money on fast food when we can just buy the ingredients to cook good food and we can re use the ingredients over and over again.
Sign up for freebies: who doesn’t love free things?
And finally, have a savings account: this is pretty self explanatory

Read more useful articles by Esther here!


Embrace your imperfections


Embrace your quirks, being wierd Is wonderful thing- Ed Sheeran

We all have our imperfections and that makes us individuals and beautiful in our own ways. The world would be extremely boring and wierd if we all looked alike and did the same things. Don’t try to copy others because everyone is uniquely and wonderfully created trying to copy others will disrupt your future and God’s purpose for creating you. Don’t feel insecure about your imperfections because that’s the way you are created. Let us encourage diversity and learn to embrace our imperfections. Let our motto for this week be I LOVE AND ACCEPT MY IMPERFECTIONS and remember that imperfections makes you who you are.

Read more inspiring articles by Esther  here!

The Wolf of Time

image Image credit- Rebecca Sullivan

Hello Readers,

Lately I have been thinking about the concept of time and its meaning. I thought I would share my thoughts and questions with you and maybe ‘open a new door’ as to how time is percevied!!

If time was a character what would it be? Would time be a character deemed as enchanting and one that radiates warmth? Would you personify time as a protector, allowing you to experience beautiful and meaningful moments, aiding your development? Or would you describe time as a cruel, deceitful and overriding character, letting the vibrant lights of life quickly fade with its shadow looming over, reflecting the stillness of your world?- Back to the real life you go, you hear time say. How would the face of your time look? Would it have an endearing smile and eyes which would unlock and grant you your hopes and dreams that you envisioned? Or would time’s face be emotionless, giving you a cold glare with its stone eyes that conveys authority and overruling power, leaving you feeling crushed?

The idea of what time is, what time means, can change throughout one’s life. Time in childhood should bring one moments of joy, beauty and pleasure, a period in which one is given a chance to explore their surroundings, a stage in which that dreams are created. As children we try to hold on to the aspects of life that filled with fun, laughter and love, trying to make activities which exudes such moments last longer, whilst rushing through other more mundane activities. It could be said that time is segmented, renamed and categorised into joyful and pleasurable and gloomy and uninspiring events; the way in which a child expresses these times suggest how favourable or favourable they are. For example the way that a child excitably announce that ‘Its playtime’ depicts that it’s moment of magic and wonder, contrary to when ‘Its homework time’ said in a lifeless tone.

This want to breeze past some moments of time and meander through others is shared by adults, but to a lesser extent. Suddenly you wake up to the fact the there is no second chance; time is slippery, there is a limit to how long you have to hold on to something. It is only as you get older that you truly appreciate time and what time have given you; you might have been taught useful lessons, making you wiser and equipped for the unused time, you might have been given a chance to fulfil a dream or simply given you moments for you to treasure.

The harsh fact that time is running out, or that time is not giving you enough space to full, leaves you panicking, trembling with fear: ‘I want to do this..’ ‘When can I do this now?’ Yet whilst one experience all these thought and feelings, time is still continuing, getting older, fading; the volume of life left in the timer is slowly disappearing. W. H Auden once wrote in a poem ‘You cannot conquer time,’ personifying time as an all-knowing character. However instead of taking on a defeatist view, seeing time as an enemy, create a harmonious connection with time, go forward with ease. Change that monologue in your head from ‘What I could haves’ to ‘What I can dos.’ Make time your friend; is it the one that will see you until the very end- who knows how your character of time could change?!!

I hope you have enjoyed this read and thank you for you so much time!!

Untill next time,

All my love XX

Read more interesting articles by Rebecca Sullivan here!

Alden Ehrenreich Officially Cast as Han Solo in Star Wars Spinoff — TIME

Alden Ehrenreich will play a young Han Solo in an upcoming Star Wars spinoff, directors of the franchise said. The Hail, Caesar! actor was cast for the role of the standalone movie after auditioning for six months, he said at Star Wars Celebration Europe at the ExCel Centre in London, according to Deadline. Read more on  TIME

Could you be friends with yourself?


I’ve been toying with this idea of could I be friends with myself? Because it comes up a lot when I look for an idea of what to talk about. I was like saying to my friend earlier. Admit it I’m the most frustrating person at the times to be honest it’s true. I have a love hate relationship with myself where I get on with myself so much and then other days I’m like what the hell is wrong with you sort of thing.

I have agreed with people who say your the most frustrating person to work with. In a joke kind of way but I use the punch line of you telling me. I can’t stand myself half the time. One thing I don’t agree with people is that I’m pretty and etc that’s just me being inscure and what not. Everyone has those don’t they unless your one of those people who a stuck up and think their perfect in every way. Who are they trying to be Mary Poppins? No ones perfect I know I’m not.

My answer is this I can be friends with myself. I do fall out with myself a lot because I have dyslexia so I can fall out with my alter ego as you may call it. It makes me laugh that I argue a lot with myself best way for it and yeah sometimes I forgive myself for it. I have this feeling that something is telling me magpies are looking out for me today. They seem to be following me everywhere. Just moved from the back of the sports park to the front of the park.

Let me ask you these questions and you can share your opinions or keep them to yourselves or email what you think. Could you be friends with yourself? If so why. Do you believe in life after death? Such as after you past you turn into something like a bird for example. Do you believe that you come back as a Sprite? I ask myself these sort of questions to myself all the time. As I feel like someone or some people are watching over me when things get tough and etc. Let me know what your own thoughts are.

Read more creative articles by Lizzy here!

Authority and Me Before You


Hello Readers,

Recently, I have watched the incredibly emotional film Me Before You. This film open minds, bends stiff ideas and leaves you with one (or lots of) tears. I believe sharing my thoughts on this particular film is important to express. Like a post I have written before, regarding a film, I will write about Me Before You in relation to a theme that it so elegantly illustrated, and that is authority. Authority, in this film, shows that you can be the master of your own destination, if you have a little believe. This was demonstrated by both characters that I wilI write about. I would like for you to read this with an open mind and to remember nothing is ever ‘black and white.’ Feel free to comment any thoughts you may have on this!!

So much, if not all, of society is controlled restricted and overruled by a superior force, in one way or another. This could be in the form of the government, teachers/people we seek advice from or your parents. Sometimes the sense of authority can make you feel ‘safe’, providing you with assurance that your life choices are accepted agreed and Okayed by a figure that you admire. With reassurance given it motivates you, consciously or subconsciously, to succeed even more in the decisions that you make. This sense of security that comes with authority could, however, be so overbearing that one is left trapped, finding themselves in an unrequested life, unable to grasp hold of the steering wheel of their life, simply be a passenger on route to a unknown destination. But just because you are answered with a dismissive glare and hear the stomach-churning, two letter word ‘NO’ do not mean you cannot find your own way. You can create your own key to open the lock!!

The film, Me Before You, follows the story of Will; a man who once was a young highflying city banker with a zest for life and had a love for travelling was left paralyzed following a motorbike accident. He was back living with his parents in a place he described “That people come to when they get tired of actually living.” Will’s life, post-accident, is a total contrast from the way he found his way in the world; from being completely independent, and in control of his destination to having to ask for assistance with every little movement and having it authorised by another person.

Will’s story merges together with the life of Lou. A young lady with a quirky personality, trying to earn money for her family, but finds herself unhappy in every job she takes. She is living in the world not truly knowing which way her life is headed. Lou then applies and is successful caregiving job to a young man, who just happens to be Will. In her first few encounters with Will, he appears to be shut off and very closed minded to the idea of any sort of companionship with anyone including Lou; the personalities of both theses character could not be more different, with Lou always looking at life with ‘the glass half full.’ Will’s bitterness is highlighted when he says to Lou “What if I said I didn’t want you here?” to which she replies “I’m not employed by you, I’m employed by your mother.” Here we see the lack of authority Will have; the director of his life lies with someone else. However Lou’s raw honesty to Will about the effect his pessimism on others “making….life…miserable” that results in his company “not being particularly enjoyable,” allows him to see another’s perspective and that others have difficult times too. From this moment in the film Will’s cynicism begins to fade, letting a relationship with Lou blossom. They both learn things from each other that would otherwise be an unknown territory if their lives did not pave the path that it did; from Lou’s perspective being magnified, enabling her to find a deeper meaning of life that she craved for, and Will’s ability to look beyond stereotypes and find true beauty in people, stepping out of his comfort zone. Both of these characters could be said to play a ‘teacher’ role to each other, one teaching the other vital life lessons.

This beautiful relationship between Will and Lou that makes them re-define the word life plays a deep importance in both of their lives. However for Will what he desires for is unattainable, Lou learns of Will’s wish to end his life; not wanting to endure anymore of the endless physical or emotional pain he experiences every day, as a result of his disability. In the hope that he will change his mind and see that “life is worth living” Lou establishes and make come alive Will’s dreams, dreams of traveling, going to concerts and being part of activities that he enjoyed as what he termed as the “Old Will.” But even in times of joy, Will is reminded of what he yearns for; after He and Lou drive home from concert Will says “I just want to be a man who’ve been to a concert with a girl in a red dress, just a few minutes more” in reply to Lou’s comment “we better get you in (both still sitting in the car).” He still has to ask to do things in order to experience just a fraction of his desired life, which would perhaps be otherwise left unsaid.

Both characters show that some they can gain or regain power over their life. This is firstly demonstrated by Lou and her ability to persevere with the cynical temperament of Will when they both meet, showing him the light amongst the darkness of his perspective. Throughout the film we see Lou’s sense of self blossoming, being able to stand up for herself and not having something or someone else have power over her. Secondly Will regains his ability to be heard and respected. This is first demonstrated when Lou expresses the effect he has had on her when she tells him “I have become a whole new person because of you,” indicating that he have the abilities to change people lives, even if it is unconsciously. A second way in which he regains authority is by having the final say on the direction of his life. Although Will is tried to be convinced that he could still experience life and fulfil his dreams, he wants to experience those things as the “Old Will”; he is still wishes to die. After six months of when he first shared his wish with his parents, he makes his final journey to Switzerland whereby he ends his life. This was solely Will’s decision and a decision he persisted with. Even though people who authorised the way he lived was in disagreement, Will got back control of his life and directed it in the way that he knew best.

All my love XX

Read more thoughtful articles by Rebecca Sullivan here!


3 Reasons Why You Can’t Find A Job

image.pngSource credit-here

Have you been unemployed? If so, then you probably know how frustrating it is to try to find a job in the United States today. Some areas of the United States have been devastated so badly by the economic downturn. Unless you have been unemployed before, it’s hard to explain the extreme frustration that one feels when you are unable to pay the rent and feed your family. This epidemic has prompted me to become an entrepreneur and become my own boss. However, there is a huge misconception that being unemployed is the fault of those who are unemployed. The truth is that our economy is dying and it is not producing nearly enough jobs anymore.Here are some reasons why it’s hard to find a job.

1. Increased competition:
There have been a record number of college applications across the nation, resulting in more college graduates, and thus, more competition for the limited number of jobs available on the market. I will safely assume that every person reading this knows at least one person in their social circle who has graduated college and is still having difficulty getting a job

2. Lack of networking:
Many people get jobs through referrals. Statistics show the majority of people get their jobs this way. The reason why word of mouth is so effective is because it cuts through all the worry of whether or not this person can do the job. If somebody has been working for a company for some time, then that employee knows what it takes to succeed, and if that employee knows somebody who can do it, it’s an easy fit. The employer will trust the employee referring the new candidate and the new candidate will most likely get the job.

3. Technology Replaces Workers:
This has become a major problems in recent years with more technology there is a lesser need to for employers to hire available workers. This results in a huge number of displaced workers

Read more useful articles by Jay Colby here!

Is this true?: The One Thing That Holds Back Almost Every Entrepreneur

image.jpegThe Entrepreneur Insiders network is an online community where the most thoughtful and influential people in America’s startup scene contribute answers to timely questions about entrepreneurship and careers. Today’s answer to the question, “What are some tips for maintaining a successful startup?” is written by Neil Powell, co-founder of Mugnacious.

I realized, and sadly not very long ago, that my ability to predict my future is not so good. In fact, I’m embarrassed by how often I’ve been wrong. I’m not talking about thinking or preparing a bit for what might lie ahead either. That’s what a good business person does. I mean habitually trying to predict what will happen to you and your business in the future. I’ve spent God knows how many of my precious little life hours obsessing about all kinds of ways things could play out for me and my small business.

The senseless string of questions, worry and doubt:

What if no one calls me for projects next month, even when I’ve had a banner year thus far?

What if that art sale doesn’t happen?

What if they change their mind?Then what would I say?

What if …

And while all this fortune telling was going on in my head, I was never really paying attention to the now part of my business — remembering or noticing all the little signs that life presents to you over and over during the course of a day, a week, a month or a year.

Because while I was racking my brain trying to calculate all the things a client might say during drinks Friday, life had been driving a big dumb clown car down Happy Street passing out new opportunities. But I couldn’t see any of this. I was always so fixated on the future. By trying to predict my future, I would inadvertently make decisions based on fantasy. Most of which played to the conservative side of things and led to predictable behavior. Offering up only opportunities that led to more of the kind of work I wanted to move away from in the first place.

It wasn’t until just last year that I started to change. Career-wise, I was at a crossroads of sorts. I worked as both an artist and an interior designer. Just when revenues from my two roles were starting to even out, I started getting more fine arts projects.

In the past, I would have resisted turning too much of my attention toward my art and away from design. After all, it was the design channel of revenue that was allowing me the freedom to pursue art. But now, I was starting to give in to the fact that people love my art, and when I really focus on it, it flourishes.

Now I was turning my attention away from trying to predict my business’s future and turning it toward spending more time nurturing to what I really want my business to be — a magical place of making and wonder.

In March I decided to make a bold move. I opened a workshop and show space in Brooklyn and it’s given a whole new life to my small business. It was a decision that has transformed the way I work and approach my business. Admittedly, I was a tiny bit scared but nonetheless excited.

I feel reborn as an entrepreneur. All because I stopped trying to predict the future and started to take notice of now.

Originaly seen on the Fortune.

Follow Thoughts Of A Civilian for more influential (shared)articles like this!!

Enjoyment and Connections


Hello Readers,

The word enjoyment…what does it mean to you? What connotations does enjoyment have? Do you have an immediate image in your mind when you hear that word? Perhaps of a place or of a specific person? What feelings to you experience when you think of the word enjoyment?

Enjoyment, the sense of enjoyment is unique to every individual; the passion, the enchanting nature, the singular or multiple elements of entities that drives one to ever find themselves lost in the joyful state. These are precious moments that should be cherished as it gives one a chance to get in touch with their ‘true self’ being reminded of freeing, calming, fun and joyful nature inside them; they are able to go back to the place where they are just ‘let be’. Maybe out of these times whereby they are able to indulge in thrilling experiences, they can recognise qualities in themselves that they have perhaps overlooked or were inattentive to before.

An exciting aspect of enjoyment is that the entity you take pleasure in could be shared by others, other people you may not know; you and that mystery person(s) already have a connection, you just have to go in search of those who are on the other end of the link.

Place yourself in a music concert- the first cord on guitar is strummed, the first note on the piano is played and the first beat on the drum is echoed, it is THE song everyone knows. Now for my favourite bit- looking around and seeing, feeling the vibrations of excitement amongst hundreds of individuals, radiating what you are feeling-all singing the same words and waving their hands in unison. The atmosphere is electric with joy all for one reason and if a person a members of the crowd ‘Why do you like this band?,’ you would find that similar responses would be given- you might even find two people give the exact same answer.

My example of a concert is on a big scale, but even if you were to consider a form of enjoyment that was more individualised to you, you are guaranteed that there is at least another person in the world with similar appreciations as you. This comes to remind you and I that no one is ever completely alone, if you only looked around.

So, go and find what it is you enjoy, what it is that you have deep happiness in doing it!! Even if there is a wall of fear jump over to the other side and find out the answer to ‘what if?’. Most importantly enjoy!!

Until next time,

All my love XX

Read more interesting articles by Rebecca Sullivan here!