The Suman Ghosh blogs.

There are 40 UNESCO World Heritage Sites in India. Dholavira and Ramappa Temple are the latest addition to the list under the ‘Cultural’ category. ‘Ramappa Temple’, Telangana and ‘Dholavira’, Gujarat which is included in the list of UNESCO World Heritage sites in 2021. This decision was made in the UNESCO World Heritage Committee’s 44th session held in China. In 2021 the total number of World Heritage Sites has increased from 38 to 40. What is UNESCO World Heritage Site? UNESCO World Heritage Site is a place that is recognized by the United Nations Educational, Scientific and Cultural Organization (UNESCO). This is exemplified by the Convention regarding the Protection of the World Cultural and Natural Heritage, accepted by UNESCO in 1972. Criteria for UNESCO World Heritage Sites: 1. Human creative genius. 2. Interchange of values. 3. Testimony to cultural tradition. 4. Significance in human history. 5. Traditional human settlement. 6. Heritage associated with events of ...

  The LPG (Liberalization, Privatization, and Globalization) concept has been a turning point for the Indian economy, transforming it from a state-controlled economy to a market-oriented economy. The introduction of this concept in the early 1990s was a paradigm shift for India, which had been under the license raj regime for almost four decades after independence. The LPG concept aimed at dismantling the state monopoly and encouraging private sector participation, reducing trade barriers, and integrating India into the global economy. This approach has brought about significant changes in the Indian economy and has helped India to emerge as a global economic powerhouse. Liberalization Liberalization was the first step in the LPG concept. It aimed at reducing the state's control over the economy and promoting private enterprise. The government abolished the License Raj regime, which had made it difficult for businesses to start and operate in India. This led to the emergen...

  The Silicon Valley Bank (SVB) is a renowned American commercial bank that provides financial services to technology, life science, and venture capital industries. In 2015, SVB opened its branch in Bengaluru, India, to support the growing start-up ecosystem in the country. However, in 2020, the bank's Indian operations faced a crisis that shook the country's start-up ecosystem. The debacle began in early 2020 when SVB India's Managing Director, Shailendra Singh, abruptly resigned from his position. He was widely considered to be one of the most influential people in India's start-up ecosystem and had played a crucial role in building SVB's reputation and client base in India. Soon after Singh's resignation, rumors began to circulate that SVB India was facing financial troubles and might even shut down its operations in the country. These rumors were fueled by reports of layoffs at the bank and the closure of several of its branches in India. SVB India denied th...

  Union Budget India 2023: A Comprehensive Overview by Suman Ghosh The Union Budget of India is a yearly financial statement presented by the government of India, outlining its expected revenue and expenditures for the upcoming financial year. The budget is crucial as it lays down the government's economic policies, initiatives and plans for the country. Union Budget 2023 was presented on 1st February 2023 by the Honorable Finance Minister Nirmala Sitharaman. The budget focused on the government's efforts to revive the Indian economy that was hit hard by the COVID-19 pandemic. The main focus of the budget was on the agriculture sector, infrastructure development, and boosting the manufacturing industry. The budget proposed an allocation of Rs. 2.83 lakh crore for the agriculture sector, with a focus on doubling farmers' income, ensuring adequate credit and insurance facilities, and creating a modern infrastructure for storage and marketing of agricultural produce. The gover...

Crypto assets offer a new world of opportunities: Quick and easy payments. Innovative financial services. Inclusive access to previously “unbanked” parts of the world. All are made possible by the crypto ecosystem. Consumer protection risks remain substantial given limited or inadequate disclosure and oversight. But along with the opportunities come challenges and risks. The latest Global Financial Stability Report describes the risks posed by the crypto ecosystem and offers some policy options to help navigate this uncharted territory. The Crypto Ecosystem—What Is It, What’s at Risk? The total market value of all the crypto assets surpassed $2 trillion as of September 2021—a 10-fold increase since early 2020. An entire ecosystem is also flourishing, replete with exchanges, wallets, miners, and stablecoin issuers. NFT Drops Many of these entities lack strong operational, governance, and risk practices. Crypto exchanges, for instance, have faced significant disruptions during periods of...

The Indian currency is likely to depreciate further and the exchange rate to fall below 80 per US dollar, forecast analysts and economists. A day later, the US is nervous that the USD/INR pair will soon hit the 80 mark Analysts predict that the exchange rate for the Indian currency could fluctuate between 80 and 81 per US dollar. So far in 2022, the Indian rupee has depreciated more than 7 percent against the US dollar. 1.Stability of Rupee: Despite facing several blows in the last few weeks, rupee has been one of the best performing currencies and also the stable one in Asia. “Rupee being one of the stable currencies, it has further room for depreciation. It may even touch 81 soon,” added Sugandha Sachdeva, vice-president, commodities and currency research at Religare Broking. 2. Investors choosing safer haven: Since the Ukraine-Russia war broke out, investors have shifted more towards safe haven like US. “Due to the dollar supremacy, the US never had to defend dollar. US by default w...