Issue-1

October

2022-2023
D.A.V Public School, Jasola Vihar

Designed by- Adnan, ADEEB, Sarthak,Vishesh,Priyanshu

Words of Wisdom
Sh. Prabodh Mahajan
Chairman, DAV Public School Jasola Vihar
Vice President, D.A.V College Managing Comittee, New Delhi
"Where there is righteousness in the heart, there is beauty in the character.
Where there is beauty in the character, there is harmony and peace."
-Mahatma Gandhi

Dear Students,
You have made D.A.V proud with the first ever issue of 'Econ-O-Com' magazine.
My heartiest congratulations to you and your mentors.
Let us recollect and recall what made India a great nation. It was the philosophy
of the Upanishads and the Gita, the ideals of life and culture enshrined in the
Mahabharata and the Ramayana. The teachers of ancient times taught tolerance
and the power of assimilation and created a broad outlook among their students.
Narrow mindedness, casteism, communalism, parochialism were condemned
and were a taboo. It was such an education that made India great in the eyes of
the world and spread its culture beyond its natural boundaries.

What do we witness today? 'Simple living and high thinking' has been reduced to
a mere slogan. Petty mindedness, selfish ideas, greed, falsehood, corruption, caste,
regionalism and power politics have taken hold of our life.
The vedic ideology has laid 'Ten characteristics ' of a good human being which are
compassion, humility, forgiveness, tolerance, discipline, fearlessness, truthfulness,
clarity of thought, freedom of anger and purity of mind.
Let us strive today to achieve some of them to better our lives and create a
harmonious society.
The ultimate aspect of a successful and prosperous life is to be peaceful and
content in one's mind.
May the almighty bless you all with good health and happiness !

Econ-O-com/02
Words of Wisdom
Sh. Baldev Mahajan
Vice chairman, DAV Public School Jasola Vihar
Former Director, National Institute of Educational Planning and Administration
and Joint Secretary, Govt. Of India

Dear Dr V.K Barthwal,

I am glad to know that the first edition of 'ECON-O-COM' will be published
shortly. When the covid-19 pandemic befell, all of us came to an unprecedented
sense of anxiety and uncertainty, especially in the education sector. Students,
teachers, and administration felt compelled to experience the journey of
education in a new way, in the face of numerous firsts that the pandemic
brought. We adapted, kept enhancing and advancing, and never gave up. These
characteristics are deeply rooted in DAV's foundation itself. It is gratifying to
observe that despite suffering hardship due to the pandemic, the school is making
rapid progress towards imparting
quality education and real-world experience.
Be it academics, excellence in Co-curricular, sports and games, or service to the
community, the students have earned glory for themselves and the school. I
appreciate that under your guidance, the school's mission is to bring out the best
potential of each child. With the idea of launching this magazine
'ECON-O-COM', I can say that the students are engaged in their learning
process, which is promoting the habit of inquiry and research and leads to the
development of confidence in them.
Congratulations on the new launch of the magazine. I would like to wish all the
best to the principal, staff, and all the students and a wonderful journey ahead.
Yours sincerely
Baldev Mahajan

Econ-O-com/02
Words of Wisdom
Ms Prem Lata Garg
Manager, DAV Public School, Jasola Vihar

I am extremely happy to note that DAV Public School, Jasola Vihar is bringing
out a new magazine named ‘ECON-O-COM’.
Giving opportunity to students to take charge is a great way to expose them to
responsibilities. As we begin again, opening the gates once more to laughter and
noise, we do so by taking along lessons of the past. The pandemic has shown that
the world could be uncertain but our response is what matters. During these
hard times, harnessing the immense potential of the students is an art that the
school has done very well. The students have not only excelled in their academics
but have very well done the co-scholastic activities too. Publishing such
magazines like ‘ECON-O-COM' is a thoughtful way to accelerate the potential
and interest of the students with lots of research work and knowledge given in
this magazine to open a wider view for them. The school magazine is one of the
many platforms provided for students to express themselves in many varied ways.
Their literary and artistic skills are expressed very colourfully in this magazine. It
can be one such memorable experience which would provide an opportunity for
the pupils to express their creativity that leads to the development of divergent
thinking. Publishing school magazine presents challenges, but those very
challenges empower student growth. With flexibility and creativity, the entire
staff develops problem-solving skills to meet team goals.
I congratulate the principal, teachers and the team of students for the
outstanding efforts in the first ever upcoming edition of ‘ECON-O-COM’.

With best wishes

(Prem Lata Garg)

Econ-O-com/03
Words of Wisdom
Dr. V.K. Barthwal
Principal, DAV Public School, Jasola Vihar
“Vision without action is merely a dream.
Action without action just passes the time
Vision with action can change the world”

-Joel A. Barker

Education is not merely the acquirement of facts but also of values and skills which help in
the improvement of different facets of mankind. Education plays a pivotal role in honing
the personality of a child into a healthy mind and soul not only equipped with 21st-century
aptitude and skills but also helping one face the challenges of life in efficient and creative
ways.

Aristotle once said, “Educating the mind without educating the heart is no education at
all”. Even as we impart education to match the advancement in technology and
globalisation, we march our children ahead with D.A.V Jasola ethos of modern values and
principles we endeavour constantly to instil these qualities in our children. We feel proud to
help them grow into sensitive and responsible citizens of the future.

It is a matter of immense pride for me to note that our Department of Economics has
brought out the first-ever edition of ‘Econ-O-Com’. I sincerely believe that this magazine
provides students to share their innovative thoughts and perspectives on certain topics
related to their interested domains. This kind of academic exercise not only helps to ensure
the personality development of students but also equips them with better insights and
confidence to face real-life challenges in the future.

I understand and appreciate the relentless effort undertaken by the magazine committee
members in editing articles and giving a final form to the magazine. I acknowledge their
dedication and hard work. Finally, I congratulate all the faculty members and students of
the department and wish them success in their concerted efforts.

God bless you all!

Econ-O-com/04
 Words of Wisdom
Ms Priyanka Bhattacharjee
PGT Faculty of Economics, D.A.V Public School, Jasola Vihar
Editor-In-Chief :’Econ-O-Com’

Ever since the dawn of civilization, humans have been inclined towards
knowledge and the quest to seek the truth governing how our world, societies,
and bodies organize, coordinate and work.
D.A.V Public School, Jasola Vihar, is well known for its academic excellence and
dedicated approach towards disseminating knowledge in the literary world. The
school appreciates the role of education and research. It is committed to
developing an inclination towards research in both teachers and students.
In this pursuit, our school has taken the initiative to launch a new magazine
named 'ECON-O-COM' - a students' magazine of D.A.V Jasola Vihar to
encourage students mostly at the secondary and senior secondary level to pursue
research, choose career options under the guidance of the experienced faculty of
the school.
This magazine has launched exclusively to publish strong, current academic
content and research articles by the students on contemporary topics and issues
in the areas of Economics, Commerce, Management, Governance and Policies,
etc.
To maintain high academic standards, ethics and integrity, a rigorous process of
double-blind review of research papers has been followed along with a screening
of plagiarism of each manuscript. The research work published in 'Econ-O-Com'
is original and not published or presented in any other form.
I must congratulate all the members of the editorial team and the authors who
wrote such thought-provoking articles and coordinated the launch and timely
completion of magazine work.
My sincere thanks to the principal sir, and everyone involved in the first issue of
'Econ-O-Com'.
A special mention to the design team for bringing a unique theme, tone and
essence to the 'Econ-O-Com.'

Econ-O-com/05
MAKING IT HAPPEN!

Many of us might not like reading books and long content, but we the editorial board are striving to
find the best way to make our mates informed via this virtual magazine. we take great pleasure in
introducing the first-ever edition of the “Econ-O-Com” and look forward to increasing our reach and
making a comeback with “Econ-O-Com (2nd edition)”.

“Econ-O-Com” promises an opportunity for the readers to relive the enthralling journey of this
academic and economic year 2022-2023.

This magazine aims at indulging creative minds at “D.A.V Jasola Vihar” into showcasing their
thinking and writing abilities and enhancing their critical thinking abilities.

The best part about the magazine is that it isn’t limited to narrow facts and thoughts of individuals
rather it is managed by a great team working behind who are trying their best to collect as many
perspectives to the data as possible to unleash a wider field for knowledge and encouragement. this
magazine includes literacy skills such as story elements, career corners, case studies and quite
flabbergasting topics ranging from the great legend of the stock market to the curious world of virtual
society, fruitfully mixed with fun facts and self-analysis corners. interesting... Isn't It?

We express our gratitude to the editorial staff, teachers and sources for their valuable and
overwhelming contribution and cooperation. we sincerely hope that the readers of this digest find the
content interesting, relevant, relatable and intellectually stimulating.

We would like to make a special mention to express our gratitude to the school principal “Dr V.K.
Barthwal” for allowing us to embark on this journey with sheer motivation and also to the teacher in
charge “Mrs Priyanka Bhattacharya” for coming up with such a distinctive idea and giving us the
opportunity to work and distinguish our year.

- Editorial Board

Econ-O-com/06
INDEX
S.no. Table of contents pg.No.

1 The Story of great Stock market 8-13

Agricultural transformation in
2 13-16
CATALYSING INDUSTRY

3 Beating the drum on GST-tax digest 17-27

4 E-way bill 28-31

5 Sensory Marketing 32-34

The fundamentals of skill

6 development and power 35-36
networking

What if Facebook was the real

7 37-39
world?

8 Greenwashing Investing 40-44

ESG (Environmental, Social And

9 Governance) targets and Financial 45-49
Performance

The future of electric vehicle in

10 50-51
india

11 Women and Finance and Business 52-54

12 Career Corner! Life with Economics 55-59

13 Credits 60-62
The Story Of Great Stock
Market

By- Adiva Siddiqui (XI-D), Vishesh Pandey (XII-C)

and its effects :

The Tragedy of 1922
Harshad Mehta, the Big Bull of the Stock market for almost 10 years. He was a powerful
and cunning man born in a Gujarati family and completed his schooling at Janta Public
School. This young enthusiast started his career as a salesperson and later realized his
emerging interest in stocks. His cunning ways were compulsive and fascinating but also
obnoxious at the same time. It was later discovered about his criminal activities in stock
markets. The 1922 scam was one of the biggest in India amounting to approximately ₹
500 crores. Harshad and his investors used banking system weaknesses to launch a
securities scheme that diverted Rs. 4000 crores from banks to the stock traders between
April 1991 and May 1992. He was responsible for the big spike in the stock market price in
1992 by investing at a premium for a large number of shares. But were there any effects of
this scam on the stock market?
Once this scam was exposed many banks were left with BR(s) (Bank Reconciliation
Statement) which had no value. Even the stock market took a huge hit of 72% after the
scam was exposed. Harshad Mehta was convicted by both the supreme court and high
court for 74 criminal offences. He spent his last moments of life in jail only and died of
cardiac arrest at the age of 47. All in all, the 1922 scam led to many financial regulation
changes and laws. The security Laws (Amendment) Act was passed in 1995, widening
SEBI's (Securities Exchange Board Of India)’s jurisdiction and allowing it to regulate
depositories, FII (Foreign Indirect Investments), venture capital funds, and credit-rating
agencies. In order to secure investors’ interests, SEBI also made it mandatory for
companies issuing securities to make public disclosures.

Econ-O-com/08
Crimes
Committed
Diversion of

Harshad Mehta took large amount of cash from

government securities over a short period and put it in
his stock market. He then put the money into a few
funds

carefully chosen assets, increasing their values to

insanely high rates. This is how he defrauded banks by
instructing them to pay straight to his account while
appearing as a broker. trading
Intra-day
Harshad and his investors used banking system weaknesses
to launch a securities scheme that diverted Rs. 4000 crores
from banks to stock traders between April
1991 and May 1992. He was responsible for the high increase
in the stock market price in 1992 by investing at a premium
for a large number of shares. ACC, Apollo Tyres, Reliance,
Tata Iron & Steel Co, BPL, Sterlite, and Videocon were
among the stocks heavily invested in by Mehta.

Econ-O-com/09
 cheques
Payment
Harshad Mehta, who was the broker for several banks, slowly
requested that cheques be issued in his name. He also stated that he
would directly pay the other party (bank). Then he withdrew a cheque
from the RBI in his bank’s favour, received funds, and deposited them
into his account the same day. This permitted him to get money as
soon as the transaction finished and deposited it in his stock market.
Dispensing of

Harshad Mehta utilised his reputation to convince banks to issue cheques

securities

without collecting the securities in exchange for the promise of receiving

them the next day. This was a bribe to banks that would release cash
without collateral. Harshad Mehta and his companions were able to
utilise the money of the banks to invest in the stock market as a result of
this.

receipts (BR)
Fake bank
Harshad Mehta was offered fake bank receipts by two well-known
banks, the Bank of Karad and the Metropolitan Co-operative Bank
Limited. They were handed to banks, who in turn provided him
with money. He faked bank receipts by asking for the help of bank
staff involved in the scam. He utilised them to withdraw funds from
banks in order to invest in the stock market.

Econ-O-com/10
 Harshad Mehta used to handle the ready forward transactions.

(RF) to maintain SLR

Use of Ready Forward
He was able to convince the banks to write cheques in his name.
He’d then be able to invest the money that had been deposited in
his account in the stock markets. He immediately took
advantage of the hole in the system and rapidly expanded the
swindle. Only two banks could be involved in a normal ready
forward transaction. Securities would be taken from a bank in
exchange for cash. However, when a bank requested security or
payback, Harshad Mehta would take the assistance of a third
bank. Eventually, there would be the fourth bank, and so on.
Instead of just two banks, there were suddenly plenty of them,
all linked by a network of readyforward transactions.

Before in hand, Harshad Mehta had a good understanding of these

processes: transactional banks made payments and transferred
securities directly to each other. Following that, he worked as a bank
broker, delivering securities and making payments to the relevant
banks. The seller (bank) would send their securities to Harshad, a
Settlement

broker, who would then transfer them to the buyer (bank). When the
buyer paid the bank, Harshad would return the money to the seller.
process

This is the settlement procedure. However, after building his trust with
both the banks, he began to trick them by depositing funds into his
account without securities, which he slowly used to invest in the stock
market. These were funds from the middle class. He took advantage of
it for his gain.

Econ-O-com/11
Stock Market
Reforms
Settlement

Back in 1992, the settlement cycle - the time within

which brokers have to pay full money and take
cycle

delivery of stocks or deliver stocks if sold - was 14 days.

Now, it is two days, and SEBI is also hinting at a 1-
day cycle soon.

balance
Minimum
In 1992, there was no rule over the maintenance of the
minimum balance that a customer needs to ensure to buy
stocks. But now, a customer can’t buy stocks without the
minimum money in the account or sell without stocks in the
Demat account.
The new rule helps reduce the systemic risk from aggressive
brokers who were previously compromising risk for the business.
difference

Lastly, in 1992, dealers used to pocket a cut by telling different

prices to customers than the actual trade price. However, these
Price

days the process is 100 per cent transparent.

Econ-O-com/12
 transactions
Electronic
Back in 1992, the settlement of trades was done through
paper and counter-party risk was evident. Now, all the
settlement of trades happens through clearing corporations
(CC), and all transactions are electronic.
approval
Broker's

Today since the risk from the customer is way lesser due to
margin requirements & CC, you don’t need approval from
a broker to open an account like in 1992. You can open a
trading account online within 15 minutes .

process
Trading
Back in 1992, all the trades were placed through dealers
and hence they carried a huge execution risk. These
days, most of the trades are executed by customers on
their own.
Brokerage
firms' role

In 1992, brokerage firms dealt as an advisory, but

now they focus on execution and not advisory.
fee
Brokerage

In 1992, customers were mostly unaware and paid at

least 1 per cent as brokerage for equity delivery trades,
while no charges have to be paid now.

Econ-O-com/13
AGRICULTURAL
TRANSFORMATION IN
CATALYSING INDUSTRY
By- Sakshi Garg (XII-D),
Priyanshu Rao (XII-D)

Globally, agriculture employs about 1.3 billion smallholders

and landless workers. Nearly 88 percent of the global 1.2
billion youth live in developing countries and account for
approximately 24 percent of the working poor. For the
developing countries, innovations in agriculture play a
critical role in achieving livelihood security of people
dependent on agriculture as well as creating new
employment opportunities for youth. Considering that the
bulk of the global agricultural supply comes from
smallholder farms, innovations in making solutions
affordable and adaptable to local conditions and needs will
be effective in delivering positive outcomes. Making
agriculture a profitable and attractive enterprise for the
youth will be a key for achieving larger development and
food security goals.

Econ-O-com/14
The Need for Innovation
Agriculture has linkages with food and nutrition security
and hence innovation matters in this respect.
Globally, 163 million children under 5 years suffer from
VAD - 65 million in Sub-Saharan Africa and about
49 million in Asia resulting in stunted growth, weakened
immunity, blindness, and increased mortality.
Innovations in crop varieties that are loaded with essential
nutrients like vitamins, zinc, iron, etc can impact nutrition
in a positive way.

Possible Techniques
Biofortification of crops i.e breeding the crops with more
nutrients and its rapid commercialization
scaling up in regions, where undernutrition threatens a large
section of the population needs to be fast-tracked. Also,
fortification I.e adding several micronutrients(like vitamins)
to the crops deliberately to
overcome the problem of nutrition deficiency in the
population can be an effective tool in replenishing the
nutrient requirements. Innovations in a fortification that do
not compromise on the palatability of the
foods and are affordable to the population who are most
vulnerable to undernutrition can be instrumental in
overcoming the challenge of hidden hunger.

Econ-O-com/15
Indian For India, with a population of 1.3 billion
already and likely to surpass that of
Context China by 2022, demand for food, feed
and fibre will keep increasing. Indian
agriculture faces considerable
groundwater challenges in terms of
depleting and deteriorating water
resources owing to the intensification of
farming, resulting
in a declining per capita water supply of
less than 1,700 cubic meters per year.

India also experiences climate change in terms

of rising temperatures and erratic monsoons
resulting in recurring droughts. Such
droughts, as experienced in 2014 and 2015,
adversely impact the crop sector and farmers’
income.
It also faces a huge challenge to grow more
and grow sustainably with limited resources.
Agricultural resources including land, water
and labour face competition from non-
agricultural sectors.
Also, India is home to a large number of poor
people and has the highest number of stunted
children under 3 years age, which makes
innovations for attaining nutrition security
even more important.

Econ-O-com/16
Possible Solutions

In the developing world, India and Africa in particular,

innovations must catalyze gains for the smallholders in terms
of higher productivity, effective risk mitigation through access
to credit and insurance and increased income through market
linkages. From a sustainability standpoint, it is important to
ensure that the innovations encourage farmers to adopt
climate-smart agricultural practices through optimal
utilization of natural resources, energy-efficient power sources,
controlling
post-harvest losses through better infrastructure and services,
and improving value addition in fresh produce for better price
realization for farmers. Innovations in policymaking and
institutions that encourage consolidation, greater outreach
and access to input and output markets will be most valuable
in achieving holistic and inclusive growth. Also, it is critical to
nurture an ecosystem that aims at incentivizing investments
in research and development and innovative business models
that aim at improving access and delivering benefits in an
affordable format.

Econ-O-com/17
Beating The Drum On
GST-Tax Digest
By- Vishesh Pandey (XII-C)
"The hardest thing to understand is the tax structure."

- Albert Einstein

Even Sir. Einstein was perplexed by the idea of taxation, it seems.

Taxes are the backbone and one of the most indispensable components of the economy,
the only source of subsistence for the government, and an empowering tool for the
government to drive economic interests and fluctuations.
Taxation is the only instrument to achieve a country's long-term growth and
economic development. It has been the primary source of revenue for states across the
world, and India is no exception to this.

The two types of taxes include:

Direct Tax - Taxes whose burden can't be shifted to others.
Example- Income Tax, House Tax, etc.
Indirect Tax - Taxes whose burden can be shifted on others (typically from
producers to consumers). They are levied on goods and services.
Example- Goods and Service Tax, Value Added Tax, Excise Duty, etc.

India has a well-structured and simplified taxation system, wherein authoritative

segregation has been done among the Central Government, the different State
Governments, and the Local Bodies. The Department of Revenue under the
Government of India's Ministry of Finance is solely responsible for tax computation.
This department levy taxes on individuals or organizations for income, customs duties,
service tax, and central excise.

Econ-O-com/18
Historical Facts

Taxation was first imposed in Ancient Egypt around 3000

B.C.- 2800 B.C. during the first dynasty of the old kingdom.
Records indicate from that period that the Pharaoh would
conduct a biennial tour of the kingdom, collecting tax
revenues from the people.
Historically, taxation has been crucial for nation-building

and welfare states. After the destruction brought about by

the Second World War, European societies were rebuilt by

the progressive tax to be spent on social

welfare programs
and infrastructure.
In India, the tax system was introduced in ancient times.
The existence of the early tax system can be seen in many
old books such as Manu-Smriti, and Arthasastra.

Econ-O-com/19
Prior Tax Structure Of
India
Central and state governments imposed various taxes on the
Indian population, such as service tax, V.A.T., etc. Before
introducing G.S.T., the Indian tax system was complicated
and had cascading effects.

Value-added tax (V.A.T.), introduced in the year, was a

type of indirect tax levied on goods and services for value
added at every point of the production or distribution
cycle, starting from raw materials and going all the way
to the final retail purchase.
The main aim behind the introduction of V.A.T. was to
eliminate double taxation and the cascading effect of the
then-existing sales tax structure.
Though it was brought in to eliminate the cascading
effect of taxes, it has not been able to do so entirely.
Claiming an input tax credit (I.T.C.) on service under
V.A.T. is impossible. Different V.A.T. rates and laws in
states made it one of the most complex taxation systems.

Econ-O-com/20
Introduction To G.S.T.:

The Goods and Services Tax (G.S.T.)

introduced in India on 1 July 2017, replaced a
host of indirect taxes levied by the central and
state governments, which has changed the
taxation landscape. The underlying theme
was to have a 'one nation, one tax', which
would improve the ease of doing business for
taxpayers, bring transparency, ensure timely
compliance and ultimately reduce the tax
burden for the commoner.
Under the indirect tax system, more than 15
different taxes were payable according to
different norms. Therefore, immediate and
systematic regulation of the filing and
calculation of taxes was required.
The Indian tax system was cumbersome and
burdensome, and different taxes on the same
products in different countries resulted in high
inflation that had to be fixed.

Econ-O-com/21
Structure Of GST:
GST in India is a Dual GST framework, wherein, Centre will
levy and administered CGST & IGST, while respective state/
Union Territory will levy and administer SGST/UTGST.
CGST is a tax levied on Intra State supplies of both goods and
services by the Central Government and will be governed by
the CGST Act. SGST will also be levied on the same Intra
State supply but will be governed by the State Government.
SGST is a tax levied on Intra State supplies of both goods and
services by the State Government and will be governed by the
SGST Act. As explained above, CGST will also be levied on the
same Intra State supply but will be governed by the Central
Government.
UTGST is just the way similar to SGST. The only difference is
that the tax revenue goes to the treasury for respective
administration of union territory where the goods or services
have finally been consumed.
Delhi and Puducherry levy SGST and not UTGST because
they have their own elected members and Chief Minister.
Hence, they function as partial – states.
IGST is a tax levied on all Inter-State supplies of goods and/or
services and will be governed by the IGST Act. IGST will be
applicable on any supply of goods and/or services in both cases
of import into India and export from India.

Econ-O-com/22
G.S.T- As A Dichotomy
To V.A.T

Traditional taxation consisted of the 'tax on tax' ideology, i.e.

charging taxes on subsequent levels of the production and supply
line.
For Example -

There isn't any exclusion of taxes or input tax credit involved. In

the case of V.A.T., taxation at every stage of the supply
chain/trade, the cost of the commodity rises significantly and
doesn't encourage the consumer to have a spending mindset.

After the wholesaler/seller receives the product, they add their

profit margins, and then V.A.T. is applied to that manipulated
price. As a result, this product included a series of taxes plus profits
of corresponding intermediates.

Econ-O-com/23
GST’s Intervention

Under GST, producers can reduce

their tax liability by availing of an
input tax credit. Input credit means
at the time of paying tax on output,
you can reduce the tax you have
already paid on inputs and pay the
balance amount. It diminished the
cascading effects of taxation by which
prices of individual commodities
dropped significantly.

Econ-O-com/24
Benefits Of GST
From the consumers point of view, the biggest advantage would
be in terms of reduction in the overall tax burden on goods, which
is currently estimated to be around 25%-30%. It would also imply
that the actual burden of indirect taxes on goods and services
would be much more transparent to the consumer.

GST also made Indian products competitive in the domestic and

international markets owing to the full neutralization of input
taxes across the value chain of production and distribution.

The entire process of GST (from registration to filing returns) is

made online, and it is super simple. This has been beneficial for
start-ups especially, as they do not have to run from pillar to post
to get different registrations such as VAT, excise, and service tax.

Under GST, there is just one, unified return to be filed. Therefore,

the number of returns to be filed has come down. There are about
11 returns under GST, out of which 4 are basic returns that apply
to all taxable persons under GST.

In the pre-GST era, it was often seen that certain industries in

India like construction and textile were largely unregulated and
unorganized.Under GST, however, there are provisions for online
compliances and payments, and for availing of input credit only
when the supplier has accepted the amount. This has brought in
accountability and regulation to these industries.

Econ-O-com/25
The Process

The introduction of GST has simplified business

processes, tax administration and compliances
in India. The Ease of Doing Business Index, a
measure used by the World Bank Group in
which ‘paying taxes’ is one of the important
parameters used to determine country rankings,
has shown significant change.
India’s ranking during the last three years
showed a sharp upward momentum from 100
in 2018 to 77 in 2019 and 63 in 2020 – a jump of
37 places in a span of 3 years.
The robust unified e-way bill system introduced
in 2018, has facilitated dispensing with the
archaic check-posts, thereby reducing supply
chain lead time and associated costs for
companies and helping the tax administration
monitor tax compliances and potential revenue
leakages better.
The introduction of e-invoicing from October
2020, provided a system that allows real-time
data reporting by taxpayers. The availability of
real-time and relevant data helped in the
detection of tax frauds and curbing evasions.

Econ-O-com/26
G.S.T. Rates
The GST council opted for a four-tier rate structure of 5%,12%, 18%, and 28%
keeping in view the social and economical conditions of different sections of society.
Lower tax brackets are meant for essential commodities and higher for luxury
goods and services that attract additional cesses too. It capped the levy of GST at
40%.
The GST council finalized the tax rates for 1211 items on 18th May 2017. while 7%
of the total number of items (eg: foodgrain, unbranded flour, milk, gur, curd,
buttermilk, fruits, salt, etc) were exempted from tax. 14%, 17%, 43% and 19% of
goods or products attracted tax rates of 5%, 12%, 18% and 28% respectively. a lower
tax rate of 5% was levied on items such as sugar, tea, coffee, edible oil, spices, coal,
etc. while a higher rate of 12% was applicable on items such as butter, ghee,
almond, fruit juice, etc. a tax rate of 18% was imposed on items or goods including
hair oil, soap, toothpaste, computer, printers etc. the highest tax rate of 28% was
levied on luxury and de-merit goods, consumer durables, cars, etc. in regard to the
taxability of services, it may be noted that while education, healthcare, local
trains, two-tier travel tickets continue to be exempted from tax a tax rate of 5% is
leviable on goods transport, travel in ac rail coaches, economy class air tickets, cab
aggregators etc; 12% tax rate on business class air ticket, work contract etc; 18% tax
rate on telecom, financial services etc; and 28% rate on rooms and restaurants in
five-star hotels, cinema tickets, betting at race clubs, etc.
In recent amendments, the GST council has decided to exempt taxation from the
funding of instruments to scientific and R&D institutes, import of items meant to
be equipped as defence equipment, and import of certain crucial and potent
drugs/vaccines/medicines. Also, it has hiked taxation on various categories such as
hotel accommodations (rates vary according to revenues of hotels), mobile phones
to 18%, lotteries to 28%, plastics to 18%, etc.
As per certain reports, the government is planning to impose GST on petroleum
and crypto exchanges.

Econ-O-com/27
Conclusion

The GST law represents a bold initiative of the government to

rationalize the system of indirect taxes in India. This important
law has resulted in removing market distortions through the
elimination of a multiplicity of taxes and 'tax on tax' that led to a
higher tax burden on consumers. It has ensured a common and
unified market in India with uniform rates of tax applicable to the
same goods and services across States. In fact, GST is expected to
help enhance economic growth, generate more employment
opportunities, increase the tax base of the economy, and finally,
lead to increased tax revenues for the government.

GST in India is still there at an experimental stage with the

existing problems of lack of technological awareness among small
traders, intermittent glitches on the GST portal as well as blatant
public demand for revision of tax rates on certain goods and
services, etc. In fact, GST in India is undergoing necessary changes
in response to the needs and aspirations of different sections of
Indian society and will continue to do so till the time this new
system of taxation stabilises.

Econ-O-com/28
E-WAY
BILL
By-Aryan Ahmed Solanki (XII-C),
Animesh Singh(XII-C))

The e-way bill or electronic way bill is an electronic receipt or a document generated
on the GST portal when there is a movement of goods from one place to another.
The e-way bill acts as a permit for the intra-state and inter-state movement of goods
valued at more than Rs 50,000. 7.7 crore e-way bills were generated in March 2022
and 7.4 crore e-way bills were issued in April 2022, according to the latest available
data.

INFORMATION E-WAY BILL

INCLUDES
The e-way bill includes information about details of the goods, the
consignor, the recipient, and the transporter. It should be generated before
the movement of goods by the consignor or consignee if goods are
transported on their own or hired conveyance, by road, railways, or air.
And it is the responsibility of the transporter to generate the e-way bill. An
e-way bill has to be prepared for each consignment of goods valued over
Rs 50,000 and in case the transporter carries multiple consignments in the
same vehicle, a consolidated e-way bill has to be generated.
FACT OF E-WAY BILL
GENERATION

If goods are rejected by the

recipient, for e-way bill
generation delivery challan
needs to be issued.
Blocking of e-way bill
generation is applicable only to
the Supplier GSTIN

Econ-O-com/29
WHY E-WAY BILL IS
NEEDED?

It serves as a mechanism that

ensures the goods which are being
transported comply with the
GST Law and is an effective tool
to track the movement of goods
and check tax evasion.

WHAT IS THE MINIMUM

DISTANCE FOR AN E-WAY
BILL?
The E-Way bill is complete only
when Part-B is entered.
Otherwise printout of EWB
would be invalid for movement of
goods. Filling up Part-B of the e-
way bill is a must for movement
of the goods, except for within the
same state movement between
consignor place to transporter
place, if distance is less than 50
Kms.

Econ-O-com/30
WHEN DID E-WAY
BILL START?
The 'E-way bill' provisions in respect of inter-state
supplies of goods were implemented with effect
from 1st April ,2018. The different States had
introduced e-way bills for intra-State movement
of goods at different times. However, all States
have introduced the e-way bill latest from 16th
June 2018.

E WAY BILL comprises of two parts and they are

:

Part A request for the details such as

recipient GSTIN, place of delivery, invoice
WHO ARE
date, goods value, transport document
EXEMPTED
FROM E-WAY
number, reason for transportation etc.

Part B comprises of transporter details like BIL L ?

Vehicle number and transporter ID.
In case goods are being
transported for weighing
purposes and the distance
is not more than 20 Kms
from the place of the
business of the consignor
to the weighbridge or vice
versa, e Way bill
generation is not required.

Econ-O-com/31
 UPDATES
THE LATEST
⦁ The government made this change applicable when the
movement of goods commences and terminates within
the area of same city. Any Goods except all type of
Tobacco and its Products i.e. Chewing Tobacco,
Cigarettes, pan masala etc the E-Way Bill limit shall not
exceed Rs. 2 Lakh. - DATED 24/02/2022 Rajasthan govt.
⦁ As per the GST Council, the e-way bill requirement
has been laid down for the transportation of gold falling
under the HSN Chapter 71 for all Interstate and
Intrastate transactions. 12/9/22

⦁ Instead of paying the tax and penalty like the present

rules, the accused will have to pay a fine of twice the
amount of the tax. The whole amount will come under
the category of penalty and nothing will come under the
name of the tax amount.This means that after applying E-way Bill extension
responsibility
for the refund, you will either get back the entire amount

or nothing at all, compared to at least getting the tax If goods are rejected by the
recipient for E-Way Bill
amount as per the current scenarios. 1/01/2022 generation, delivery challan
needs to be issued.

Econ-O-com/32
Sensory
Marketing
What Is Sensory
Marketing?

“Marketing that engages consumer senses and affects

their perception, judgement and behaviour.”
~ Aradhna Krishna.

Sensory marketing is a way of marketing the product such

that it plays through the senses of the customer (smell,
view, taste, touch and hearing) and creates an abstract
idea or image for a product.

The first one is a plain slab of chocolate, one simply consumes it as a plain
chocolate, but at the same time may feel guilty apparently because of it’s bad
implications on health and the cumbersome length and breadth. Whereas
the second chocolate (Hershey’s kisses) comes in a wrap and small pieces, so
one can have more bites without guilt, although in some cases consumption
may be equal.

Let’s take another example-

Many hotels (upper league) are using strategy of signature scents so that the
customer, whenever in contact with the scent, can remember the place and
features they loved. Like the Westin Hotel has a scent of white tea with
geranium and fressia.

Econ-O-com/33
 Sensory vs Perception
Sensory is taking information through our senses (with biological processes) whereas Perception is the
understanding of sensory/sensation.

SENSATIONS

TASTE

HAPTIC(Touch)

VISION
OLFACTORY AUDITORY(Hearing)
(Smell)

Haptics
Aristotle proposed his theory of aisthēsis which
suggests that “touch” is on the top of any sensation.
The touch sense is important as it makes one feel
more “friendly” and secure feeling if the source of
touch is good. You’ll understand better by these
examples-
An infant monkey, between 2 different prosthetic
mother models, chooses a cloth mother model
rather than a wired mother model which provides
nutrition through milk too (Harlow, 1958).
Another example is a study done on 199 subjects
on the topic “Effect of Touch”.Half of the subjects
were given products they couldn't touch but only
see and the other half were given products which
they could touch. As a result, subjects who touched
bought the product more

Econ-O-com/34
Olfactory
Studies show that odour recognition is more in humans
than any other information obtained through the senses.
Humans have the ability to recognise as many as 10,000
different scent combinations.
Recognition accuracy(tendency to forget) decreases slowly
when its odour is taken in. So there are very high chances
of product recognition if it is connected with an odour.
For example, a study shows odour recognition reduced
from 70% to 65% in a year. This is very slow compared to
the decreasing rate of recognition of other senses.

Conclusion
Sensory Marketing can be very beneficial for advertising
companies if researched properly and used in an
appropriate way. Till now very little study or research has
been done on the topic and there are possibilities of more,
besides the information provided here.

Fun fact!
DOGS HAVE 44 TIMES MORE
SCENT RECEPTORS THAN
HUMANS

Econ-O-com/35
The
Fundamental
Of Skills And
Power
Networking
Networking is the process of the
interconnection of two or more
people/systems that exchange
information and resources to help
each other in reaching an objective
By -Ishita Gautam (XII-C, Sanya Rawat (XII-C)
Archita Jha (XII-D)
Terms to be emphasized on:-
• Process - Networking is something that
doesn’t happens casually but requires a
thought and deliberate activity which
constitutes the process.
• Engaging - You are looking to have
others do or share their resources and few
others might be looking for you to help
them out in reaching their objective.
• Objective – The purpose of networking
needs to be clear and it shouldn’t be
merely to collect people’s contact
information but to further career
development.
Econ-O-com/36
The process of networking involves three basic phases: prospect
identification and
management, making contact, and follow-up.
The first phase involves identifying Whom you need to speak to which
largely
depends on your objectives. Suppose one is trying to learn about
occupation, it can be just about anyone involved with that field.
Building a network requires consistent work, and a strong network will
take time to
achieve. For this reason and added to the high demand for networking,
sometimes it is suggested that the willing one should start developing
one's network at the starting phase only, even at the start of their career.
the network should include anyone who might have a connection that
will help: family, friends, past and present coworkers, people you met
through associations and clubs (especially business associations), alumni
from your college, and acquaintances.

The content of networking calls or emails will largely depend on the

objective of the networking effort. Some networking basics and elements
of etiquette apply to all contacts:-
• If this is the first contact, tell the contact where you got his or her name.
• Be mindful of your contact’s time.
• Use your network for more than just asking for jobs.
• Help others in your network.

Common courtesy and follow-through are the catalysts of good

networking.

Econ-O-com/37
WHAT IF FACEBOOK
WAS THE REAL WORLD?
The topic itself might be sounding a bit schizophrenic or delusional. I feel this social
world and especially 'Facebook’ is quite realistically inclined. Facebook is so real that
profiles created every minute may exceed the global birth rate, which is about 5
profiles created every second compared to 4.5 babies born per

second.

Facebook isn’t just a daily convenience tool, of course as of now it’s a part of the
family.

Introduction to
By- Vishesh Pandey (XII-C)

Facebook
Facebook is a social networking site that makes it easy for you to
connect and share with family and friends online. Originally
designed for college students, Facebook was created in 2004 by
Mark Zuckerberg while he was enrolled at Harvard University.
By 2006, anyone over the age of 13 with a valid email address
could join Facebook. Today, Facebook is the world's largest
social network, with more than 1 billion users worldwide.

Meta is an American multinational technology

conglomerate based in Menlo Park, California. The
company owns Facebook, Instagram, and WhatsApp,
among other products and services. Meta is one of the
world's most valuable companies. It is considered one of
the Big Five American information technology companies,
alongside Alphabet, Amazon, Apple, and Microsoft.

Facebook filed for an initial public offering (IPO) on

January 1, 2012. The preliminary prospectus stated that the
company had 845 million monthly active users, and a
website accruing 2.7 billion likes and comments daily.

Econ-O-com/38
What Is Social Media and How
Does It Hold Such An Impact On
Our Lives?
Social media comprises of various platforms such
as Facebook, Snapchat, Twitter, etc... to transfer
information. We depend on social media so much
that apparently, we can't live without it. It holds
such an impact on teens, parents, and even kids.
Even with all the benefits of social media there are
many consequences with it as well . It has played
a part in all of our new world advancements.
Introduction of Social media has had a major
influence on society in the 21st century, enabling
people to engage with each other in radically new
and different ways. In less than a decade, it has
transformed how we stay in touch with friends,
shop, network and gather our news.

Overall, Facebook (Meta) is a full fledged bubble

which is expanding its reach to overshadow the
real world .

Econ-O-com/39
PROS vs CONS
Apart from the technicalities and the history, we can clearly see how
Facebook and meta have influenced our Gen-Z and millennial lifestyles.
People from the demography of 30s-50s (around 31%) get their news from
Fun Facts:
Facebook. This interdependency on social media whether to connect to any Facebook has 2.91 billion
old friend, significant individual or family member or to shop eCommerce, monthly active users .
has recently surged to a skyrocketing extent. Irrespective of many other uses of 77% of Internet users are
Facebook in recent times, it was initially meant for sharing photos and active on at least one Meta
platform
memories with close ones.
Over 1 billion Stories get
Epidemic Social media and networking seem to play an essential part in posted every day across
everyone’s lives throughout the planet. Many debates whether it is improving Facebook apps
or destroying human face-to-face interaction. Facebook is the favorite
If Facebook was the real world then it would have many undebatable and social platform of the 35-
44 demographic
quite logical pros and cons.
57% vs. 51%: Users learn
Imagining us to be a part of the meta world, we would have been blessed by more life skills from social
the constant ping by our friend circles. Though the problem with social media media than university
is that it degrades one’s ability to socialize but on the very contrary Facebook (based on normative
serves as a great medium to build relations with legit people. It would never surveys)
Facebook Users Have
let our dopamine levels down, Facebook provides psychological satisfaction to
Uploaded 250 Billion
individuals. Its’ benefits don’t just accrue to the individuals but it also serves Photos
the purpose of businesses and governments to market and sell out their Women Use Facebook
respective USPs (Unique Selling Proposition) and policies. More than Men
Every segment of society is either directly or indirectly affected by Facebook 88% of Facebook Users
Created an Account to
and social media in general.
Stay in Touch with Family
& Friends
Respective Cons of Facebook include the separation from reality which means

that no matter what the real world is, it's always more fulfilling and different

from the social media world. Irrespective of immaculate and enhancing tech,
the meta world would always lack the quirkiness of the real world. On the
other hand over engagement on social media has been linked to many
disorders and diseases.

These cons are apparently illogical and might get resolved in the coming
millennia. We may envisage the future to be themed like ‘Matrix’, ‘Ready
Player One, ‘In Time’, etc.
Econ-O-com/40
GREEN WASHING
"Talking nice about sun and wind and green jobs is just GREENWASHING!"

What is green
By- Adarsh (XI-C), Rohan (XI-C), Vishesh (XII-D)

washing ?
Spending more time and money claiming to be 'Green' through
advertising and marketing rather than actually implementing
business practices that minimize environmental impact is 'Green
Washing'. Hence , it is an extremely unethical practice !
Also , it can be described as the process of conveying a false
impression or providing misleading information about how a
company's products are more environmental friendly .
This term was originally coined by an Environmentalist Jay
Westerveld in 1986 , he claimed in one of his essay that the hotel
industry falsely promoted the reuse of towels as part of a broader
environment strategy , but in reality the act was designed as a
cost saving measure .
How Prevalent is
Green Washing?

Greenwashing is the selective disclosure of positive

information without full disclosure of negative information
so as to create an overly positive corporate image .It is a
central empirical phenomenon within organization's
interaction with the natural environment because it is hard
for the stakeholders to directly evaluate firm's environmental
performance .

Econ-O-com/41
 You will be shocked to know that there are 37% of cases,
wherein the claims included vague and general statements
such as 'conscious' , 'eco-friendly' ,'sustainable' which aimed
to convey the unsubstantiated impression to consumer that
a product had no negative impact on the environment and
in 59% of cases, the trader had not provided easily accessible
evidence to support its claim . It is surprising to know that
in more than 50% of the cases the trader did not provide
sufficient information for the consumer to judge the claim's
accuracy .
According to the report Coca-Cola which serves 1.9
Case of Coca

billion of drinks in more than 200 countries each day has

spent millions on advertising an innovation. It claims
that its bottles contain 25% marine plastic, but does not
disclose the fact that it is the largest producer of plastic
pollution in the world. As per Break Free from Plastic
brand audit, the Coca-Cola Company is the world's
worst corporate plastic Polluter for the fourth year in a
Cola

row.
Greenwashing ?
We don't have to be investigative reporters to uncover questionable How to Uncover
Greenwashing practices, being an aware and vigilant citizen is only
needed to spot greenwashing.
Ways to uncover them are discussed below :
Look behind the buzzwords: Look for stamps of approval from an
organization or certification.
Do your research: It never does harm to ask a brand, if you are
not sure about their eco credentials. Also, look for the
authenticity.
Count on the right resources: There are endless handy sites, books
and social pages out to help in our eco- journey.
Make sure claims are verified by a third party: Look for labels
that cover for labels which cover the full spectrum of factors that
go into being environmentally friendly.
Econ-O-com/42
Seeking impact investing
to avoid greenwashing
If you're new to impact investing, you may be
unsure where or how to begin on, if your
portfolio is already focused on impact
investments, you may want to re-evaluate it with
a critical eye . In any case consider working with
financial Professional as your next step.
Burlingame acknowledges, "Import in investing
and its terminology can be confusing to investors.
Greenwashing is an additional challenge and
creates a bad investor experience, your financial
professional is a first of
defense who provides transparency and
guidance!"

Experienced financial professionals can serve as a

safeguard against greenwashing . As Burlingame
asserts, "Questions should be asked of ,it allows
them to highlight their corporate reputation and
commitment to Impact." As impact investing
demands rise, the available data and reporting
capabilities are growing to Burlingame reinforces
the growth. In the 1990s, 20 companies disclosed
ESG data. Today that number is over 9,000. The
Increase in data and ability to analyze it helps
quantify the non-financial benefits.

Econ-O-com/43
Literature review and
hypothesis development.
Aim to gain a better understanding of the factors
which can mitigate greenwashing behavior. The
prior literature on environmental greenwashing
and empirical evidence support that closer scrutiny
by external stakeholders can alleviate the extent of
environmental green washing . Companies are less
likely to be involved in environmental
greenwashing when they were headquartered in a
location with a greater density of environmental
NGO members, such environmental greenwashing
behavior can be deterred by external scrutiny from
environmental activists .

At the firm level we focus on wealthy

increased scrutiny from independent
directors institutional investors on board
governance

size how direct effect on firm's

greenwashing behavior. The CSR literature
Finn level

suggests that CSR disclosure can be seen as

factors.

firms trying to meet the information

demand from non shareholder, stock
holders and shareholders show that a
corporate social responsibility report can
exert a positive impact on analysts forecast
and accuracy on Researchers.

Econ-O-com/44
 As global warming becomes increasingly prominent
,countries worldwide advocate for a low - carbon economy
to cope with the pressure to reduce greenhouse gas emission
.Greenhouse behavior promotes the positive impact of
carbon disclosure quality on enterprise value in the short run
, but this promoting effect faces in the long run.
Global sustainable funds drew $96.6 billion in net new
deposits in the first quarter of 2022 , according to the
reporter by researcher Morningstar Inc, a 36% decline
compared to the prior quarter but still better than the
73%decline in inflows in the broader fund market over the
same period .

Literature review and

hypothesis development.
before Investing
Investigating

While the impact investing landscape is comprised of

many ethics-based businesses and investment
managers , greenwashing remains a brand concern due
to a lack of detailed regulatory oversight. Working
with a trusted financial professional to evaluate the
impact claims of a business on a fund manager can be
critical to your investment endeavour. It may also
simply provide great peace of mind.

Econ-O-com/45
ESG
(Environmental,Social
And Governance)
targets and Financial
Performance By- Archita Jha (XII-D), Kashish (XI-C)

What Is ESG ?
Traditionally, investment decisions have been driven, mainly
by financial parameters. However, with growing concerns
around climate change and equality, the concept of ESG I.e
Environment, social cooperation, and governance is gaining
ground. It is a set of non-financial parameters that helps the
stakeholder in understanding how an organization or a
company is managing risk and opportunities in environmental,
social, and governance criteria.

Targets
Environmental, Social, and Governance (ESG) goals are a
set of standards for a company’s operations that force
companies to follow better governance, ethical practices,
environment-friendly measures, and social responsibility.

Econ-O-com/46
 Environmental criteria consider how a company performs as a steward

Environment
of nature. A company whose activities are detrimental to the
environment may be undeserving of your money, and vice versa. Some
of the key issues to research under this criterion are-
Climate change, deforestation, and resource depletion
management
Greenhouse gas emissions, goals, and transparency into how the
company is meeting those goals
Carbon footprint and carbon intensity (pollution and emissions)
Usage of renewable energy
Recycling and safe disposal

To be apt, the social criteria looks at how the company treats

people.
Companies that help society and treat their employees well usually
help themselves in the long run. Some of the key issues in this
include-
Working conditions, health, and safety
Employee training and development, treatment, pay,
Social

benefits and perks

Public stance on social justice issues(say child labour and
slavery) as well as lobbying efforts
Integration with the local community and social license to
operate with the consent
Governance

The governance criteria refer to a set of rules, systems, structures, and

policies governing a corporation.
Some of the governance topics include:
Tax strategy Donations and public lobbying.
Corruption and bribery.
Diversity of the board of directions and management.
Corporate risk management.

Econ-O-com/47
 Why ESG?
It focuses on non-financial factors as a metric for guiding
investment decisions wherein increased financial returns
are no longer the sole objective of investors.
Aligning with the ESG principles help companies to
expand existing markets and provide new avenues for their
product with no or very less competition.
ESG-compliant companies have ease of access to resources
— natural, financial, human talent, etc — at a lower cost.
Adherence to the ESG framework encourages companies to
look for more sustainable investment opportunities that
create a competitive advantage in the long run.
Fulfilment of ESG norms such as redress of shareholder
grievances, human rights, and gender diversity of the
companies will result in fewer penalties and enforcement
actions.

The practice of ESG investing began in the 1960s as socially responsible

investing, with investors excluding stocks or entire industries from their
portfolios based on business activities such as tobacco production or
involvement in the South African apartheid regime.
The formal story of ESG investing began in January 2004 when
former UN Secretary, 'General Kofi' invited over 50 CEOs of major
History

financial institutions to participate in a joint initiative of the UN

Global Compact with the support of the International Finance
Corporation (IFC) and the Swiss Government. The goal of the
initiative was to find ways to integrate ESG into capital markets. A
year later this initiative produced a report entitled “Who Cares Wins,”
with Ivo Knoepfel as the author and this was the time when the term
ESG was first used. Ever since the introduction of the United Nations
Principles for Responsible Investing (UNPRI) in 2006, the ESG
framework has been recognized as an inextricable link between
modern-day businesses.

Econ-O-com/48
ESG criteria include
Environmental goals can help in reducing the carbon
footprint, determining sourcing strategy and setting a
foundation for how to eliminate unnecessary waste.
Social impact can build a meaningful diversity program,
enhance employee health and make lasting changes in the
community.
Governance includes diversifying the board, enhancing
business ethics, increasing stakeholder transparency and
protecting privacy.

Sustainable project for waste water reuse

Econ-O-com/49
ACHIEVEMENTS
CONCERNING
INDIA
The asset size of ESG Funds has grown nearly five times to Rs
12,300 crore over the last couple of years.

Indian investors are showing an increased interest in ESG

compliant companies and investment products and companies are
proactively taking steps toward inculcating ESG in their corporate
governance strategies.

For instance, Tata Consultancy Services revealed plans to reduce its

absolute GHG emissions to achieve net zero emissions by 2030.

In a first-of-a-kind move, the Ghaziabad Municipal Corporation

became the first-ever civic body in India to issue green bonds listed
on the Bombay Stock Exchange (BSE) as an environment-friendly
move and declared to use its profit in the tertiary water treatment
plant which will benefit the industries in Ghaziabad.

Econ-O-com/50
The Future of
Electric Vehicles
in India By- Mr. Parvesh Pandey
Supervisory Head (Sr.)
Electric Vehicles (EVs) are a sustainable transportation sector in the future because
of their extremely low to zero carbon emissions, great efficiency and low noise
pollution. Electric vehicles can be the new trend considering the current
environmental conditions in the country. The Indian automobile industry has
enabled the enlargement of the electric vehicle sector in India. EVs have become the
promising and trusted channel for the improvement of air quality, energy security,
and resource management problems. The government and auto sector companies
have recognized the potential of alternative fuel vehicles (AFVs) for environmentally
friendly transportation, and auto sector companies have been enacting measures to
boost the market for EVs. However, the country is still struggling to identify the
medium to replace the existing usage of fuel mechanisms with environment-friendly
EVs.

Fuel-burning will create a negative impact on climate change because vehicle

emissions generally contain CO2, CO, NO2, and other particulate matter (PM2.5
and PM10) which have been considered the major contributors to the effect of
greenhouse gases and also cause various diseases like cancer. EVs play a very vital role
in making India a developed country. The manufacturing of EVs is getting
increasingly popular.
EVs can also be the best source of increasing GDP in the coming years.
Furthermore, to the benefit of decreasing pollution, according to the research, "EVs
can also reduce oil imports. It is a relatively new concept in the automobile industry.
Although some manufacturers have built their entire model around being proactive
and using electricity, others provide a hybrid vehicle that runs on both electricity
and gas.

Econ-O-com/51
In the current scenario, EV sales in India are limited to electric bikes and rickshaws, the car
arena is still far away from reaching its goal. The global trends are quite different from the
Indian scenario. The reason behind this is EVs are often more expensive than petrol and
diesel vehicles since their batteries are more expensive, and the larger the battery, the more
we must spend. Electric vehicles use the same rechargeable lithium-ion batteries that power
our laptops and smartphones; they're just bigger and have a lot better capacity.
The issue of charging time is inextricably linked to the issue of driving range. EVs typically
take 8 hours to completely charge. The length of time it takes to charge a battery is largely
determined by its size. The larger the battery, the longer it will take to charge. Also, the
overall price of EVs is considerably higher than petrol or diesel cars.

The Indian government needs to give some benefits to the people who buy EVs like
exemption from paying GST, road tax or parking charges. However, in India, these are
things that have never been paid attention to. Even though some state governments like
Delhi, have introduced EV laws to provide financial incentives to new electric vehicle
buyers, the problem of charging stations arises. If the Indian cities are well equipped with the
charging infrastructure for EV cars then this will become the most viable option for the
people.
Despite all issues now the time has arrived to move away from fuels like petrol and diesel.
The cost of pollution is beginning to spiral out of control for residents and the levels of
pollution in major Indian cities. The disruption caused by climate change presents both
opportunities and challenges.
EVs are more viable options for the climate than existing road vehicles. Even though it is not
a foolproof plan for climate change still it can make a difference in the current scenario.
They emit fewer greenhouse gases and air pollutants than fuels like petrol and diesel. The
EVs have significantly contributed to the betterment of the air quality index.
Economic motivation has become the key to the benefit of both the environment and the
people as well. The Indian policymakers must also address the medium of economic
motivation by reducing the taxes for the people purchasing electric vehicles.
Furthermore, they should also frame the ideas and methods to increase the establishment of
charging stations just like the petrol pumps.
The technology of EVs can give a chance to increase other technologies like it can help
invent the methods to reduce the charging time required by the EVs. Although there are
many contentions related to the fact that EVs reduce pollution completely. However, EVs
might not be completely helpful but they still can make a huge difference in a country like
India.

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Women In
Finance By- Kaushiki Jha (XI-D, Adiva Siddiqui (XI- D

As we all are very well aware of the situation of women in our

society. Compared to the early times, it is observed that they are
at the better condition in every sector, but can we say that this

sector
productive in economic
women can be more
Gender equity : How
fact is quite celebrating if we consider every aspect and region? In
India, I cannot just say this has happened yet. Since the 1980s,
women are recording a higher life expectancy than men
worldwide. But across all the developing countries, more women
and girls still die at younger ages relative to men and boys,
compared with rich countries. As a result of this "excess female
morality ", about 3.9 million girls and women under 60 are
"missing "each year in developing countries About two-fifths of
them are never born.
One-sixth die in early childhood, and more than one-third die
during their reproductive years.

According to the surveys, women earn less and are less economically productive than most men across the
world. But experiments and some intellectual experiences have shown that greater gender equality can enhance
economic productivity. Closing the gap between men and women is as much a part of development as is
reducing income poverty. Society is keen to take certain measures for the upliftment and welfare of females.
Elimination of barriers against women working in any sector or occupation will of course increase the output
by raising women's participation and labour productivity by as much as 25 % through better allocation of their
skills and talent. We all would agree that everyone can be productive and efficient by using one's own skills and
ideas. Similarly, women can also contribute to their own potential. Firstly, women's greater control over
household resources either through their own earnings or cash transfer can enhance the country's growth
prospects by changing spending and making it proportionally beneficial for every member. Empowering
women as economic, political and social actors can change policy choices and make institutions more respective
of a range of voices. In India, giving power to women at the local level led to greater provision of public goods
such as water and sanitation which in turn benefitted even those women who weren’t a part of power. Another
problem that women face is that they do not get adequate time out amidst the household chores to carry out
their passion and get engaged in economic activities.

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Even if we scroll through the Puranas and other epics, the level of respect, skills
and education received by women was commendable. So, in modern times we
cannot take for granted a lack of knowledge and indecent behaviour towards
women. India lies at 77.7 % rank in matters of literacy on a global level. Since 2011
there has been an increase of 4% in literacy percentage which is admirable as Geeta Gopinath
compared to other developing countries but still more measures can be taken Deputy Managing Director, IMF

ahead for improvement.

The most literate state of India, especially in the female sector, is Kerala with
92.07%and the least literate state is Bihar with an overall 70.9% and in the female
sector 60.5%. Such a difference in both the states which are a part of India is
astonishing. The difference in knowledge shows the amount of difference there
must be in the acceptance of working of women. There can always be room for
improvement.
Financial support is much needed and necessary and it is always accepted that a
Nirmala Sitharaman
male figure must work on making our women financially independent because Minister Of Finance, India
there is not a field where women have not contributed in amazing ways. We can

remove the concept of a patriarchal society from a negative light and be the best
of what we are. Let's make this century worthwhile for all. But just thinking all
this would never bring true change until we are strong enough to face the reality
and counter them with a determined heart. It is sorrowful to know that the
gender gap in society has not vanished yet and is more profound when it comes to
economic participation and opportunity. Things are just as bad at the highest
level of corporate leadership worldwide where women account for just 24% of
senior roles.
Maggie Timoney
Even fewer are CEOs of the world's largest corporation only 1 in 20 fortune 500 CEO, Heineken
companies were led by a woman in 2018. Although women are gaining

representation among executive committees in fortune 100 companies, at the

board level, they remain a small minority. In 2017, women accounted for 22% of
the executive committee roles in America, 15% in Europe, and just 4%in Asia.
WEF's 2020 global gender gap index figures indicate that just 25% of women
formally engage in India's labour market, compared with 82% of MRN. This is
one of the lowest workforce participation rates in the world for women ranking
India as 145th out of 153 countries

Safra Catz
CEO, Oracle

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This figure is even more worrisome given the fact that the
Amrapali Gan
women's labour force participation rate in India has fallen from CEO, Onlyfans

35% in 1990 to 25% now, despite significant educational gains and

robust GDP growth. India is the only major economy to witness
such a negative trend in women's participation in the workforce.
An Indian woman is making about 20% of what an Indian man
making. That compares to an average American woman, who
makes about 65% of an American man; an average Chinese Roshni Nadar
woman making 60%of a Chinese man. Also according to the CEO, HCL ltd.

OECD data, the average Indian woman performs 6 hours a day

of housework and you will be shocked to know that on the other
hand, an Indian man does it for an average 1 hour. The world
bank reports that the Indian GDP growth rate would climb
above 9% if women had an equitable share of jobs, and India
could boost its growth by 1.5%points per year if just 50% of women
could join the workforce. This is motivating for all my female Leena Nair
readers, isn’t it? When more women participate in the labour CEO, Chanel

force, men also benefit. A 2019 IMF study found that as women's
complementary skills raise productivity, wages are boosted for
everyone.

Susan Wojcicki Anjali Sud Ginni Rometty

CEO, Youtube CEO, Vimeo CEO, IBM

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Career in
Economics By- Archita Jha (XII-D)

Making money that matters...

Misconconceptions about it.

Economics and the
Basic Knowledge about
Many students and parents take economics as a non
science field, dealing with all sorts of cumbersome data
and a large academic bend. But, In his landmark essay
on the nature of economics, Lionel Robbins defined
economics is “The science which studies human
behaviour as a relationship between ends and
scarce means which have alternative uses”.
Whether we believe it or not, every action, decision,
behaviour, nature or even the morality-based inclination
of any institution or person corresponds to the economic
interests of the same directly or indirectly. So, a good
economist can shape the biggest of decisions of any
institution or government by putting forward
important economic factors and stakeholders.

Econ-O-com/56
Some Major Branches
of Economics

Microeconaomics
It studies the action of individuals and firms to
determine prices, production, and consumption in single
markets i.e, at a small scale. Demand and supply, Behavioural
game theory, monopolies, oligopolies and nudge theory Economics
are some highlights of this field. It cmbines elements of
economics and psychology to
Macroeconomics understand and predict
real human behaviour. For
It studies the economic issues at the aggregate example- Are people more
level of an economy. It predicts and optimizes likely to donate
economic output, inflation, interest, foreign
money for education or
exchange rates, and trade.
healthcare?
Developmemnt
Economics

It analyses the impact of policies, schemes,

subsidies, and world events on developing and
low-income countries. It advises and focuses on
improving the social, economic and fiscal
conditions in developing countries.
Econometrics

It applies statistical tools and models to analyze data and turns

a theoretical economic model into useful tools for policy making.
For example- analysis of the impact of offering free education
on employment and wage levels in
the country.

Econ-O-com/57
Career
Prospects
Financial advisors swear upon the economics
when it comes to the understanding of the
Investing and

factors which impacts the performance of a

company or institution. Courses in Finance,
help build a career as investment analysts or
finance

investment bankers. With cryptocurrencies

and block chain changing the face of financial
transactions, micro-economists will find
many growth opportunities.
After 12th -
Company Secretary
Chartered Accountant
Certified Financial Planner
Academics

Economics commands the fastest-growing

research budgets across universities and
governments since the research often uses real
data to highlight issues and propose solutions
to current and proposed policies

Econ-O-com/58
 Data analytics
Econometrics training is very useful in data analysis careers
especially in policy making, think tanks, finance and
investing. Several undergraduate courses combine
Economics with Data Analytics to analyse data to create
results across government, fintech, marketing or even
technology careers. .

After 12th -
Bachelor's Degree In Data Science
Government and
Policy Making

Economists with advanced training in macroeconomics,

development economics and international economics are
well equipped to use these skills for careers as policy makers
and economic analysts working with governments, think
tanks OR organizations like the World Bank, IMF or
WTO..

Econ-O-com/59
BUSINESS

Economists are equipped to plan pricing strategies, advertising

and marketing strategies as well as to write to please the media. A
degree in Economics combined with a business degree would open
all management careers.

DIFFERENT
COURSES AND COST
STRUCTURE IN INDIA

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Designing Team
Vishesh Pandey

Archita Jha

Priyanshu Rao

Sarthak Verma

Adeeb Khan

Adnan Ahmed

Econ-O-com/61
 Editorial Board
an ka
Priy jee
ch ar
ta
Bhat

a Jha
chit
Ar

ndey
sh Pa
Vishe

ki Jha
ushi
Ka
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