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Vol 11 Issue No.126 Apr - May 2022 USD 0.70`50AED 5BD 0.500

WAR INUKRAINE: IMPACT ONGLOBAL & INDIANECONOMY Shri V.P. Nandakumar, MD & CEO Manappuram Finance Ltd.

Chief Mentor Mr. V.P. Nandakumar Director & CEO Jebitha Ajit Editor Jebitha Ajit Legal Advisor Latha Anand B.S.Krishnan Associates bskrishnanassociates@gmail.com Sub-Editor Anusha Varghese Consulting Editor Sujit Chandra Kumar Associate Editor Ravi Saini Athulya Pradip Correspondents Dr. Thomas Nechupadam Vivek Venugopal- Quarter Mile Amrutha V Kumar Creative Design PEGASUS Cover Photographer Jinish Photogenic Marketing USA 725, burning tree lane, punta gorda Florida-33982 Mob: +1 (863) 558-5234 UAE Jolly Tel: +971 50 307 1125 Shaji N Palakkal 415, Building 23, Al Khail Gate, Al Quoz-2, Dubai, UAE Tel: +9714 4511075 Maharashtra Jayasankar M a/101, New Prathamesh Niwas, OPP. Laxmi Park, Thakurli East, Dombivli post, Thane District, 421201 Mob: +91 9820708662 Tamil Nadu Joe Michael 305 1st Main Road, 3rd Cross Street, M K B Nagar, Vyasarpadi, Chennai, Tamil Nadu, Pin- 600039 Mob: +91 9791006426 Karnataka, Telangana, Andhrapradesh PEGASUS Ph: 09288800999 Sunilkumar NN Director Vineeth Nair Ambalika Saikia, Ambalika_saikia@yahoo.com Published at Pegasus Global Pvt. Ltd. L5-106, Changampuzha Nagar Kalamassery, Ernakulam-682 033 e-mail: editor@uniquetimes.org uniquetimesindia@gmail.com Ph:0484 2532040, 2532080, Mob:9288800999

Editorial A

difficult time can be more readily endured if we retain the conviction that our existence holds a purpose - a cause to pursue, a person to love, a goal to achieve -John Maxwell Success is the combination of hard work and determination. Every success story will have three basic ingredients: blood, sweat and tears. Trying to achieve success is like firing at a moving target. When you hit one, five more appear from the opposite direction. We feel pressured to work more to earn more money, put in more effort, and acquire more luxury toys, once we've accomplished one goal. Standards and examples of ‘making it’ vary all the time, and a fast-paced world of technological and societal development always throws up new challenges. When we examine the stories of high achievers who have attained long-term success, made a positive influence on others and enjoyed the process, one thing becomes clear. Some of the most successful people have reached where they are because they have a better knowledge of what success is all about, as well as possess the flexibility to follow through on their goals. In this edition, our cover story is on Dr Ajit Ravi Pegasus, Chairman of Pegasus Global Pvt Ltd, who conquered the world of fashion with his unstoppable determination and hard work. In his chosen field, he has always been ahead of his times. Another highlight is Manappuram Finance Limited MD and CEO V P Nandakumar’s opinion on ‘War in Ukraine: Impact on Global & Indian Economy’. We do have our usual fare like beauty, movie review, book review, gadgets, business and motivational articles in this edition. “Books are the escape you never knew you needed until you start reading.” Thank You Sd/Jebitha Ajit

Cover Photograph Dr. Ajit Ravi Pegasus Chairman, Pegasus Global Private Ltd.

Printer & publisher Pegasus Global Pvt. Ltd. Cochin (682033) on behalf of Ajit Ravi. Printed at S.T.Reddiar & Sons, P.B. No: 3627, Veekshanam Road, Cochin-18.

CONTENTS

Ajit Ravi Pegasus The Man Who Never Gives Up

COVERSTORY 20

War In Ukraine: Impact On Global & Indian Economy

BUSINESS BUSINESS

Off My Management Bookshelf During the Pandemic Days…

PEGASUS Comes Up With Yet Another Magnificent National Beauty Pageant

CONTENTS AUTO REVIEW

How the Budget Impacts Non-Profit Organisations

Gadgets

Render Tomatoes a Part of Your Beauty Routine and Enjoy the Benefits

TRAVELOGUE

BEAUTY

Arizona Home of the World’s Best Wonders

Skoda Slavia

UNIQUE DIARY

Gautam Adani looking into forming a partnership with Saudi Aramco

ndian conglomerate Adani Group is looking into possible partnerships in Saudi Arabia, including the possibility of buying a stake in the world's largest oil exporter. According to sources, the group, led by Indian tycoon Gautam Adani, has held preliminary talks with Saudi Arabia's Aramco and the country's Public Investment Fund on a variety of potential cooperation and joint investment opportunities. According to the sources, he has discussed the possibility of purchasing a portion of PIF's Aramco stake. While Adani is unlikely to pay billions of dollars in cash for Aramco shares in the near term, he may consider tying investment to a larger asset-peg or swap deal, according to the people. According to one of the sources, the Indian company could collaborate with Aramco or its subsidiaries, such as Sabic, in areas such as renewable energy, crop nutrients, and chemicals. PIF received a 4% stake from the Saudi government last month. Based on Aramco's closing price in Riyadh on 17th March, the shares are now worth around $89 billion. Gautam Adani is Asia's second-richest person, with a net worth of $90.5 billion. His conglomerate is involved in a wide range of industries, including ports, power, renewable energy, airports, coal trading, and data centres.

JPMorgan's Consolidation of Gains in India

“It’s very easy to be different but very difficult to be better.” Jonathan Ive

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amie Dimon, CEO of JPMorgan Chase, the largest bank in the United States, is frequently seen in India. While the India operations are small, Dimon believes in the long-term India story. The global major even began focusing on emerging mid-sized corporates in the country a year and a half ago. "Mid will be fairly large entities in the Indian context," says Madhav Kalyan, the Indian arm's CEO for more than a decade. "It is not SMEs or MSMEs," says the author. It would be a mix of big corporations and rising local stars. That segment has begun to work well for us." JPMorgan is primarily a wholesale bank in India, with four types of customers: foreign portfolio investors, multinational corporations, Indian corporations, and financial institutions. The bank is benefiting from excess liquidity in both domestic and global markets, a thriving stock market with strong interest from foreign investors, and industry consolidation as large corporations strengthen their positions through mergers and acquisitions. JPMorgan was named the best foreign bank in the BT-KPMG Best Banks Survey 2020-21.

UNIQUE DIARY

Hyderabad will host Microsoft's largest data centre in India

icrosoft announced that it would build its largest data centre in India in Hyderabad, in collaboration with the Telangana government. The multinational corporation will invest Rs 15,000 crore in the new data centre region in Hyderabad over the next 15 years, which will be spread across three sites: Chandanvelly, Ellikatta, and Kottur. Telangana IT and Industries Minister KT Rama Rao announced the news on Twitter, saying that "one of the largest foreign direct investments Telangana has ever seen will indirectly support local business growth and facilitate job creation across IT operations, facilities management, data and network security, network engineering, and much more." According to an official statement, the new data centre in Hyderabad will provide advanced data security and cloud solutions to businesses, startups, developers, educational institutions, and government agencies. The Hyderabad data centre region joins a network of three existing data centre regions in India, which have been operational for more than five years and span Pune, Mumbai, and Chennai. Cloud services, according to Anant Maheshwari, president of Microsoft India, will play a critical role in reimagining the future of business and governance, as well as enabling overall inclusion in the country.

PVR and Cinepolis India are in talks to merge for Rs 13,600 crore

“The journey of a thousand miles begins with a single step.” Lao Tzu

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ccording to four sources who separately confirmed to Business Today that a deal is being worked out, the parent company of the country's largest multiplex chain, PVR Limited, is in talks to strike a Rs 13,600-crore merger deal with rival and third largest movie theatre chain Cinepolis India. According to sources, Cinepolis India will be valued between Rs 4,000 and Rs 5,000 crore. PVR Limited has a market capitalization of approximately Rs 9,600 crore. As a result, the combined entity is expected to be worth around Rs 13,600 crore. If the agreement is finalised, it will bring together PVR's 860 screens in India and the 400 screens owned by Mexico-based Cinepolis' India business. Cinepolis is the country's fourth largest film exhibitor, trailing only Inox and Carnival Cinemas, which have 667 and 450 screens, respectively. The acquisition is critical for PVR because, unlike its previous acquisitions – south-centric SPI Cinemas, Cinemax Cinemas, which is primarily present in the west, and Delhi-NCR-focused DT Cinemas – Cinepolis India's 400 screens spread across 22 cities will strengthen PVR's pan-India presence. The development also comes as the Covid-19 pandemic has decimated film exhibitors' revenue due to multiple lockdowns across the country.

Inner circle of 7 kept the HDFC-HDFC Bank merger a secret until the very end

ccording to sources close to the situation, only seven people were involved in the merger's finalisation. No one else was aware of it. The merger transaction was kept so secret that even the banner with the names of HDFC Bank and HDFC Ltd that was to be shown at the press conference for the two corporations' merger announcement went to print after 3th April 2022. "The evaluation had been ongoing, but it went forward in the last few weeks and was completed," said a person involved in the negotiations. HDFC Ltd's Deepak Parekh, Keki Mistry, Renu Sud Karnad, and V Srinivasa Rangan, as well as HDFC Bank's Atanu Chakraborty, Sashidhar Jagdishan, and Srinivasan Vaidyanathan, were among the seven persons. The RBI Governor was the only one who knew of the merger idea other from this group. Over the last ten days, at least two rounds of discussions with Governor Shaktikanta Das were held, according to the source. In fact, until late 3rd April night, a lot of important leaders within the organisation were unaware of the situation. According to a key fund manager with the HDFC group and a top bank official, they first learned about it late in the evening.

Kiran Mazumdar, Falguni Nayar are most talked-about women business leaders in India

“If you don’t build your dream, someone else will hire you to help them build theirs.” Dhirubhai Ambani

iran Mazumdar-Shaw, the chairperson of Biocon, has taken the top spot in Wizikey's latest News Score ranking of the ten most-talked-about women leaders in India. Falguni Nayar, the CEO of Nykaa, has taken second place. Wizikey has released its most recent news score report on women who are breaking into various industries and making headlines these days. In honour of International Women's Day, it has compiled a list of the top ten most influential women business leaders in India in the most recent news score report. Kiran Mazumdar-Shaw has taken the top spot in the ranking after urging businesses to invest more in academic research and raising $18 million to support Bugworks Research. Falguni Nayar, who has been in the spotlight since Nykaa made a strong IPO debut, came in second place. Arundhati Bhattacharya, CEO of Salesforce India, came in third place. She recently published her book Indomitable: A Working Woman’s Notes on Life, Work, and Leadership.

Apr - May 2022

Burger King’s Russian Partner “Refuses” To Close Locations

espite demands to close the 800 Burger King locations in Russia, the company’s owner said the operator “refused” to do so. Following Russia’s invasion of Ukraine, Restaurant Brands said it had contacted its local partner, Alexander Kolobov, to close the stores. However, it stated that “complicated” contracts with overseas partners prevent it from “walking away” from these agreements. Many Western companies have shut down or suspended operations in Russia. However, a small number of companies, including Burger King and UK retailer Marks and Spencer (M&S), have been unable to do so due to “complex” legal arrangements involving franchise partners. “We contacted the main operator of the business and demanded the suspension of Burger King Restaurant operations in Russia,” Restaurant Brands International president David Shear wrote in a letter to employees. “He has steadfastly refused to do so.” Mr. Shear went on to say that any changes to the local Burger King would “ultimately require the support of Russian authorities on the ground, which we know will not happen anytime soon.”

John Stahl, Game of Thrones Actor, Has Died at the Age of 68

ame of Thrones actor John Stahl has died at the age of 68, according to his agent. In two seasons of the popular HBO fantasy show, the Scottish actor played Rickard Karstark. He was also known for his role as Inverdarroch in the long-running soap opera Take the High Road. According to his agent, Amanda Fitzalan Howard, he is "an actor of remarkable skill and a stalwart of Scottish theatre." During his career, Stahl, who was born in Sauchie, Clackmannanshire, appeared in numerous theatre productions, including appearances at The Royal Shakespeare Company and The National Theatre. Peter May, a Scottish screenwriter, remembered the actor and how he had recently attended his online wedding. Ian Rankin, best known for his Inspector Rebus novels, expressed his desire to work with the actor again after he appeared in his play Long Shadows, describing his portrayal as "terrifying and charismatic." David Greig, a Scottish playwright and theatre director, described him as a "truly great actor" and said the Scottish theatre world will miss him. Mr. Stahl died on the Isle of Lewis on March 2, leaving behind his wife, Jane Paton.

Apr - May 2022

Survivor of an Italian Shooting Has Been Ordained as A Bishop in South Sudan

housands of people descended on a small town in central South Sudan to witness Christian Carlassare’s ordination as bishop of Rumbek, capping off a tumultuous year for the Italian cleric. Since Pope Francis appointed him a year ago, he has overcome a shooting and subsequent operations. The 44-year-old cleric was shot four times in the leg by assailants who broke into his home in Rumbek just weeks after arriving in South Sudan last April. Six people are on trial in connection with the shooting, including a senior member of the Catholic clergy, in a case that prosecutors are pursuing despite the church’s request that it be dropped. Cardinal Gabriel Zubeir Wako, the retired archbishop of Khartoum, presided over 20th March mass in Rumbek, which was also attended by many other clergies and the new bishop’s parents. In South Sudan, the Italian is the first European to be ordained a bishop by an African cardinal. Cardinal Wako said in his sermon that the work of a bishop is frequently misunderstood. He urged people to support Bishop Carlassare, saying, “They think when someone becomes a bishop, he becomes a rich man.” “Don’t take anything from him; instead, encourage him to keep going.”

Amanda Bynes: Nine-Year Conservatorship Has Been Lifted By Judge

California judge has ordered Amanda Bynes to be released from her nine-year conservatorship. In 2013, the former child star was placed under legal guardianship, similar to Britney Spears, while undergoing psychiatric treatment. Bynes, now 35, was best known for her role in The Amanda Show and films such as What a Girl Wants, She’s the Man, and Easy A, but she struggled with drug and mental health issues. Judge Roger L Lund announced on 22nd March that the conservatorship was no longer necessary. According to the New York Times, he said, “She’s done everything the court has asked over a long period of time.” A court can appoint a conservator for someone who is unable to make their own decisions. Bynes’ mother was in charge of her daughter’s financial and personal affairs, as well as her medical decisions, under the terms of the agreement. Bynes thanked fans “for their love and well wishes during this time” in a statement to People. Bynes’ Twitter rants also made headlines, leaving her “ashamed and embarrassed,” as she later admitted. “She’s done everything the court has asked of her.” She has recently cleaned up her act, moved into a “structured community for women,” graduated from the Fashion Institute of Design & Merchandising, and is engaged to her partner, Paul Michael. For more info: europetimes.co

Apr - May 2022

COVER STORY COVERSTORY

Ajit Ravi Pegasus

THE MAN WHO NEVER GIVES UP There isn't a single person on the planet who has managed to reach the top without struggle of some kind. From afar, it may look like a smooth ride but if you interact closely with any successful individual, you are sure to learn about the many hurdles and setbacks on the way to enviable achievement.

r Ajit Ravi's life has been nothing less than a roller coaster ride of ups and downs. He is now back at the helm as the chairman of Pegasus Global Private Ltd but the one who conceptualised the string of prestigious beauty pageants, had to be away from his business empire for a span of five years, during which period he handed over the responsibilities to his wife Jebitha Ajit. It is fascinating to listen to his story of blood, sweat, tears and triumph. Let us go back in time to 2001 when a catastrophe in the form of a road accident turned his life upside down. Ajit was barely 23 years old when his beloved sister and brotherin-law died in that tragic accident. He was then working as an airport staff at Cochin International Airport Ltd, earning barely Rs 3,000 per month, and in the aftermath of

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the tragic event, he had a big financial obligation on his shoulders due to the unaffordable hospital expenditure. He now had the additional responsibility of raising his sister's children, and he accepted it stoically. Ajit's meagre earnings, however, were insufficient to support his extended family. He opted to enter the world of fashion and entertainment with a lot of grit and perseverance. He was an ardent Amitabh Bachchan fan who was astounded and impressed by Mr Bachchan's organisation of the Miss World Pageant in Bangalore. When Ajit's favourite actor brought the world-famous pageant to India in 1996, it was a truly inspiring moment for him. But it wasn't until much later that Ajit learned about the massive financial crisis that Mr Bachchan and his firm ABCL had to deal with as a result of this single event. However, this did not douse his enthusiasm, and

he bravely pushed ahead to make inroads into the world of fashion, which even the mighty Amitabh Bachchan had failed to conquer. Thus, in the year 2001, Dr Ajit established his own event production company, Pegasus, and became the founder and chairman of the company, ushering in a new chapter in his life. And the rest is history. Today, he owns the majority of India's and Asia's most valuable beauty pageants including Miss Tamil Nadu, Miss Queen Kerala, Miss South India, Miss Queen of India, Mrs Tamil Nadu, Mrs Kerala Global, Mrs Karnataka, Mrs Andhra, Mrs Telangana, Mrs South India and Mrs India Global. He is also the mastermind behind the prestigious international pageants, Miss Asia and Miss Asia Global. All of his beauty pageants are well-known around the world, and they are organised by Pegasus Event Production Company,

which he kickstarted in 2001. Another goal he cherished was to organise a global beauty pageant in Kerala, which he realised in 2018 with the Miss Glam World pageant, which honoured attractive and brilliant women from 40 different nations. The key highlight is that whenever Ajit takes on a project, he always makes sure that the event is a huge success both creatively and financially. Other than the beauty pageants, Ajit was also the mastermind behind various award shows such as the Film Media Business (FMB) awards, to honour achievers from the fields of films, media and business, and the MBA Award to hon-

our eminent business personalities with an asset of Rs 2000 crore and more. But it is not just the money they have amassed that matters but also their commitment towards the society. Ajit has also formed a club of millionares and billionares called Federal International Chamber Forum (FICF). The winners of the MBA Award automatically become eligible for membership in this prestigious forum. Ajit is always indebted to VP Nandakumar, MD and CEO of Manappuram Finance Ltd who always supported him as a mentor, and as a tribute, Ajit has dedicated an award category in his name called VPN IBE Award. Yet another initiative by him

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We should never forget the past, remain humble and go ahead to chase your goal - Ajit Ravi Pegasus

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is the International Fashion Fest (IFF) that showcases the attires of different designers. Then there is the Celebrity Cricket Tournament (CCT) that is conducted every year with players from films, television and media. Apart from organising events, he also stepped into film production. The first film he produced was 'Raavu', a Malayalam movie which was also released in Tamil language with the name 'Thottal Vidathe'. His next venture 'August 27', an investigative thriller, is on the floor. Ajit’s love for music has seen him forming a music band under the name 'Minnalai'. He has a significant presence in the media industry with the Unique Times and other news portals and YouTube channels. Europe Times and Times New are popular in European and American regions respectively. Ajit always thinks out of the box and took everyone by surprise when he got into the FMCG product marketing under the brand name DQUE; already in the market are DQUE watches, masks, sanitiser, soap, hand wash, and T-shirts. It is indeed rare to find another entrepreneur who has dabbled in so many diverse fields and proved his staying power over the last two decades. But where there is success, can envy be far behind? That's what happened in Ajit's life too. In the year 2017, during the farewell party of an officer of CIAL called Babu, Ajit spoke a few words as the Union representative. Ajit pointed out that VJ Kurian extended the service of employees who were in his good books and also those who supported his misdeeds. Later, during a personal conversation with Kurian, Ajit talked about certain corrupt practices of VJ Kurian. This obviously led to a chain of events that opened a dark chapter in the life of Ajit. During a personal conversation with VJ Kurian, Ajit had also requested that he wishes to fulfill his dream project called '100 Life Challenge' and once that gets completed, he would resign from

the job at the airport. But VJ Kurian would have none of it and he first suspended Ajit, then demoted him and finally terminated him from his job. It was Ajit's wish to complete his dream project while being an employee of CIAL but this desire of Ajit was cut short by Kurian and Ajit is still engaged in a legal fight to get justice. He was given the above punishments under the pretext that Ajit owns his own company while being an employee of CIAL. Due to the unexpected accident of Ajit's sister and brother-in-law, he had to start a business to manage his expenses. This he did after taking permission from the then MD of CIAL Mr Shriram Bharath (2007) and, the HR department head then had also accepted the fact that the said

Apr - May 2022

COVER STORY COVERSTORY

Dr Ajit's life philosophy is simple: "Do or die." Pegasus has quietly but steadily risen to become one of India's leading event production businesses, thanks to his single-minded focus, steely determination, and unwavering work ethic. document of permission granted was safely kept at the HR department but now the documents are mysteriously missing. Mr Shriram Bharath had even confirmed on mail that he had granted permission to Ajit. But regardless of the said evidence, VJ Kurian with his unlimited powers proceeded with the termination. Being honest and loyal to his talent and work was the only mistake on the part of Ajit but his life became a living hell. He was mentally harassed and humiliated numerous times and a fake case was foisted on him. The case was registered by ACK Nair, Airport Director. Due to the rejection of the Zone A pass, Ajit had called ACK Nair to report the matter. It was a short phone conversation about the entry pass but ACK Nair alleged that Ajit threatened him during the call. A fake threatening case was filed against Ajit and this gradually tarnished Ajit's reputation. He was even demoted from the Superintendent's post to a lower post which clearly affected Ajit's mental health. He was given a shabby cabin for his official duty which clearly degraded his goodwill and dignity among others. This kind of continuous harassment by senior authorities, mainly VJ Kurian and ACK Nair mentally harrassed Ajit which gradually led him to depression. But still, he never complained, rather he fulfilled all the imposed duties as a loyal employee, says Ajit. Even when CIAL was facing a financial crisis, Ajit used to organize the functions and events of CIAL at minimal cost, and the

Apr - May 2022

magazine owned by Ajit was also displayed at the airport. But after the conversation about the corruption done by VJ Kurian all the deeds done by Ajit were trashed and even the magazine was removed from display. But none of this could extinquish the fire inside Ajit. By the year 2018, he handed over the responsibilities of his business to his biggest supporter and his backbone, his wife Mrs Jebitha Ajit. But again the management was in search of some excuse to trouble Ajit. It came in the form of a Facebook post in 2020 uploaded on Ajit's official Facebook account mentioning the selling of three of the beauty pageants conceptualized by Ajit. Half the proceeds from the sale was to be donated to the Prime Minister’s Care fund at a time when the pandemic was wreaking havoc. The management used this to allege that Ajit was still doing business while being an employee of CIAL and terminated Ajit forever even though the business was handled by his wife, recollects Ajit. Jealousy, ego and the fact that Ajit didn't put up with his corrupt activities were the reasons for VJ Kurian to form a grudge towards Ajit. Ajit's loyalty and sincerety became a barrier to his career. It's a clear irony but that is what Ajit's life convinced him. Nevertheless, Ajit has continued his social activities and outspoken nature. Many people are aware of the term Corporate Social Responsibility (CSR), but he was the one who coined the term Individual Social Responsibility (ISR). He believes that everyone has

a duty to do their part to aid the less fortunate and society as a whole. He established the Pegasus Trust for charity purposes and has been putting aside tiny sums of money from his earnings for a long time to help the poor. In 2015, he started the '100 Life Challenge,' a charity programme in which he pledged to set aside a portion of his monthly salary for 100 months in order to help the truly impoverished, and to date, he has successfully come to the aid of approximately 76 vulnerable and destitute people. When asked about his future ambitions, he foresees a Rs 100 crore turnover company in five years and the production of one movie per year. Of course, there is also the goal to devote his entire life to social service and, set an example for the youth. He is always indebted to V P Nandakumar, MD, and CEO of Manappuram Finance Ltd who has always supported and stood by him as a mentor. Dr Ajit's life philosophy is simple: "Do or die." Pegasus has quietly but steadily risen to become one of India's leading event production businesses, thanks to his single-minded focus, steely determination, and unwavering work ethic. The idea behind narrating this inspiring tale is in the hope that his story would transform many people who may be on the verge of giving up and motivate them to move forward in life, much like Dr Ajit, who has essentially risen like a phoenix bird from the depths of despair, thanks to his unwavering selfbelief

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BUSINESS

The sharp rise in global oil prices represents a significant trade shock with macro-economic implications. It will lead to higher inflation and higher current account deficit. India's macroeconomic fundamentals remain strong, but the unfolding global developments pose additional risks from the spillover, RBI noted in its recent monthly bulletin. Shri V.P.Nandakumar MD & CEO Manappuram Finance Ltd.

WAR IN UKRAINE: IMPACT ON GLOBAL & INDIAN ECONOMY

n 24 February 2022, Russia began a military invasion of Ukraine in a major escalation of the Russo-Ukrainian conflict that has been simmering since 2014. Denounced by the US and its allies as a war of aggression, it is the biggest military conflict in Europe since World War II. Russia's economy is only the world's 11th largest with a GDP of about $1.5 trillion but its vast oil and gas resources and its status as a leading producer and exporter of metals and other commodities makes it an important player in world trade. As Western sanctions on Russia

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tightened in response to its invasion of Ukraine, it disrupted the country’s oil sales. Crude prices surged to over $139 a barrel in March 2022, the highest levels since 2008, aggravating global inflation already running hot after the pandemic-induced disruptions to the global supply chain. In Europe, the price of wholesale natural gas spiked to new highs which will further exacerbate inflation and slow down growth to give rise to fears of stagflation. It also makes the task of global central banks trying to cool inflation a lot more difficult. The crisis is also putting more stress on the already stretched global

supply chains. And should the war continue for much longer, things could get a lot worse.

The sanctions imposed on Russia

Russia’s invasion of Ukraine has drawn a harsh response from the US, the UK, the European Union, Canada, Japan, Australia and some other countries. Severe sanctions have been imposed by the western powers on Russian companies, banks, oil and gas sector etc., that have drastically altered the rules of the game for the global economy. The effect has been to isolate Russia from global financial and trade networks, thereby bringing about a

collapse in the value of its currency and financial assets, and sending energy, metals and food prices soaring. Further, it has led to an exodus of leading international companies from Russia. From the tech giants to automobile manufacturers, retailers and airlines have all suspended their activities in Russia. Container shipping lines have cut down their services. Visa and Mastercard have decided to walk out of Russia and their cards don’t work anymore in the country, leaving millions unable to make payments using these cards. Boeing and Airbus will no longer service Russian airlines. The exclusion of Russia from the SWIFT payment system, the freeze on Russian assets, and denial of new funding is likely to affect about 70-80% of Russia’s banking system. The sanctions have cut off Russia's two largest banks, Sberbank and VTB, from the market

for US dollars. Seven Russian banks (including VTB) have been removed from SWIFT, a global messaging service that connects financial institutions and facilitates rapid and secure payments. The Western powers are trying to prevent Russia's central bank from selling dollars and other foreign currencies to defend its currency (the ruble) and its economy. In total, nearly $1 trillion worth of Russian assets have now been frozen by sanctions. However, while the war and its backlash inflict havoc on Russia, the repercussions are also being felt around the world. Even before the invasion, the global economy was faced with multiple stress factors such as surging inflation, supply chain bottlenecks, volatile stock and bond prices etc.

Impact on the global financial system

The potential impact of the sanctions on the world out-

side Russia has apparently not been fully acknowledged. The fact is that the economic consequences will go well beyond the price we pay at the petrol pump. Back in the days of the global financial crisis of 2008, most risks were contained within the banking sector. However, while the banks look to be in good shape today, more shadowy risks have emerged elsewhere, that put at risk even the closely regulated parts of the financial system. We are at a stage where the world is awash with the free money let loose by central banks to keep their economies afloat after the 2008 collapse. Consequently, given how asset prices have inflated into the bubble territory, and how debt levels have risen to new highs, we may be more vulnerable than we think we are. The global economy is now more inter-connected, and harsh sanctions that keep out Russia from the international

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BUSINESS

economy can have unexpected consequences leading to a slowdown in growth and higher inflation. The impact will be felt through three channels. Firstly, as prices for commodities like food and energy increase, inflation levels that are already high will go up even further. As income gets eroded by inflation, demand will fall. Secondly, European countries, especially those bordering Russia and Ukraine, will have to deal with a host of issues and challenges arising from disrupted trade, supply chains, and remittances, as well as a surge in refugee inflows. Thirdly, the blow to business confidence and the heightened uncertainty for investors classes will weigh on the equity markets giving rise to a risk-off sentiment which can potentially lead to outflows of capital from emerging markets. Oil importing countries will experience higher fiscal and trade deficits that contribute to inflation. With food and fuel prices going further up, it may spur unrest in third world countries from Africa to Latin America to

Asia and beyond. Ukraine and Russia together account for about 29% of all wheat exports. Wheat futures have spiked, making the commodity more expensive for producers of food products who will now be forced to pass on the costs to consumers. For India, the unwelcome news is that palm oil prices have also gone up as markets scramble to find alternatives to sunflower oil for which Ukraine has been the major supplier. European governments are likely to face additional fiscal pressures from having to spend more on energy security and on upgrading their military and defence forces in light of the new security challenges. Eastern Europe is likely to see rising financing costs and a surge in refugees having absorbed most of the 3 million people who recently fled Ukraine. The sharp increase in costs for essential commodities will make it harder for policymakers around the world to strike a balance between containing inflation and supporting the economic recovery after the pandemic shocks.

Risk to the petrodollar

Further, it is not inconceivable that the US led sanctions on Russia may bring forward the decline of the petrodollar system in place since 1973 and which has propped up the US dollar’s status as a reserve currency. The petrodollar system is an arrangement under which oil producers sell their output to the US and the rest of the world for dollars. Thereafter, these countries recycle the proceeds back into dollar-denominated assets parked in the US, especially US treasury and corporate debt. So far, this arrangement has supported the USD as the world’s reserve currency by creating an artificial demand for dollar and contributed to the US position as the world’s leading financial power. However, now there are credible reports that leading oil exporters such as Saudi Arabia are in active talks with Beijing to price some of its oil sales to China in yuan. If this move bears fruit, it can undermine the petrodollar’s dominance of the global petroleum market and, in turn, the entire global financial system that runs on dollars. Bear in mind that in recent years the US has relentlessly taken advantage of the dollar’s reserve status by printing as much currency as needed to fund their high deficits, effectively a debasement of the currency. China buys more than 25% of the oil that Saudi Arabia exports and if this were to get priced in yuan, it will boost the Chinese currency’s international standing and put it on a path to becoming a global petroyuan reserve currency to rival the US dollar.

Impact on the US Fed’s inflation fight

The US Federal Reserve raised interest rates on March 16 by a quarter percentage point and signalled its intention to hike rates at all the six meetings remaining in this year. “The invasion of Ukraine by Russia is causing tremendous human and economic hardship. The implications for the U.S. economy are highly uncertain, but in the near

Source: IMF

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term the invasion and related events are likely to create additional upward pressure on inflation and weigh on economic activity,” a statement released by the Fed’s rate setting committee said. The Fed faces the difficult task of combating high inflation while ensuring that growth does not suffer. If the Fed were to go too slow with the tightening, it runs the risk of allowing inflation to get out of hand, which would necessitate even more painful action down the line. Tighten too aggressively, and it risks displeasing the markets and tipping the economy into a recession. The Ukraine war has sent the cost of fuel, food, and metals higher, raising fears of 1970s-style stagflation with heightened risks to prices, growth, and financial-market stability. While the war need not deter the Fed from sticking to its goal of taming inflation, it does reduce the visibility on the likely outcomes of its policy actions. In other words, it diminishes its ability to make accurate forecasts as the margin of error increases. Consumer price inflation stood at a four-decade hight of 7.9% in February compared to a year ago. The Fed is now convinced that it must make borrowing more expen-

sive to squeeze out high inflation before it gets entrenched in the consumer psyche. The war in Ukraine fuels inflation with higher energy and grain prices as also higher prices for commodities including metals. It elevates the risk of a sharper economic slowdown than what the Fed would have bargained for. The prospect of a recession is likely to cool down the Fed’s appetite to push up rates quickly. The war also complicates the Fed's stance on reducing its $8.7 trillion balance sheet which would have the effect of sucking liquidity out of the financial system. Ideally, it would prefer to announce a plan with adequate advance notice to the markets but if the war were to cause major revisions in the outlook for growth, the Fed would be forced to act in real-time thereby setting off jitters in the market.

Impact on India’s economy

Last week IMF warned that the global economic fallout of the war in Ukraine is expected to negatively impact India's economy through several channels which would differ from those that affected us during COVID-19. The sharp rise in global oil prices represents a significant trade shock with macro-economic implica-

tions. It will lead to higher inflation and higher current account deficit. India's macroeconomic fundamentals remain strong, but the unfolding global developments pose additional risks from the spillover, RBI noted in its recent monthly bulletin. The spiralling oil and gas prices and unsettled financial market conditions also pose fresh headwinds to the still incomplete global recovery, it observed. The expected hike in crude oil will increase petrol and diesel prices resulting in higher overall inflation as manufacturing and transportation costs become expensive. As Russia was the leading global exporter of fertilisers, the sanctions have led to a spike in fertiliser prices. The price of urea (the most widely used fertiliser in India) and diammonium phosphate (second most widely used) have more than doubled from a year ago, according to Bloomberg data for India. Fertiliser prices had seen a steep rise in 2021 because of the increase in gas prices (natural gas is a feedstock for fertilizer production), strong US demand, and supply constraints. The current disturbances have provided an additional fillip to prices. In India’s case, much of

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BUSINESS

this burden is borne by the government which absorbs the increase via higher subsidies to protect the agriculture sector. Analysts conclude that the impact on India’s economy will be felt mostly through higher cost-push inflation weighing on all economic agents—households, businesses, and government. According to Nomura, every 10% rise in crude oil prices leads to a 0.4 percentage point-rise in consumer inflation. It increases import bills and widens India’s current account deficit (CAD). India’s CAD is expected to go up to 2.6% of the GDP in FY 2023, up from 1.7% estimated for FY 2022. This is likely to depreciate the rupee which recently plunged to a record low of 76.98 to a dollar. Consequently, there are good reasons to believe that India’s GDP growth will likely be lower while inflation runs hotter than the RBI’s estimates. That, in turn, points to the likelihood of a contraction in corporate earnings. The Economic Survey 2022 estimated India’s GDP growth rate at 8.0 to 8.5 per cent in FY 2022-23, which assumes crude oil prices in a range of US$70-$75 a barrel. Today, with crude oil trading at prices well above US$100 per barrel, many sectors of the economy will be negatively impacted. The rising import bill will put pressure on the Indian Rupee and make imports more expensive adding to inflation. According to estimates provided by Economic Survey, an increase in global crude

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price by US$10 lowers GDP growth by 0.3 percentage point. Therefore, India’s GDP growth estimates for FY 2022-23 are due for some downward revisions.

Some opportunities too

India’s wheat exporters are looking at unexpected gains from the Russia-Ukraine war as prices have skyrocketed amid sharply reduced supplies. As India may have an exportable surplus of 11-12 million tonne of wheat after meeting domestic requirements, we can look at close to US$5 billion worth of wheat exports in FY 2022-23. Given our bumper harvests and overflowing stock levels, farmers would benefit from the higher shipments as much as traders. The crisis is helping Indian farmers to skip government procurement at minimum support prices (MSP) and go with the higher rates offered by private players. More private interest and less government purchase is beneficial for the Centre because it otherwise provides compensation (subsidy) to the states for the economic cost of procurement. This is also a better deal for farmers who otherwise would have to sell their produce at MSP. Western sanctions on Russia have prompted many countries and companies to boycott its oil and gas. This has forced Russia to sell crude oil at deep discounts to ruling international prices. To capture this windfall, Indian refiners are floating tenders to buy discounted oil from

Russia. For example, the Indian Oil Corporation recently bought three million barrels of Russian crude for May delivery at a discount of USD 20-25 a barrel. With imports making up for 85 per cent of India’s oil needs, it is now looking to contain spiralling energy bills through such purchases. Given India's relatively neutral stance on the war, Moscow's offer of oil and other commodities at discounted prices will provide relief on the fiscal front. Also, with the European Union being the biggest market for India’s exports, the supply disruptions to the EU are likely to generate greater demand for steel, engineering goods etc., for which India is an alternate supplier. In conclusion, it may be noted that should the war drag on, the consequences for the global economy will be quite severe with high inflation and slowing growth giving rise to stagflation. It is therefore to the advantage of all concerned that a ceasefire is promptly declared, and talks begin in earnest to arrive at a compromise that would take care of the essential interests of all sides in the conflict. The sooner peace is restored, the better it will be for the world, especially the third world countries whose people stand to suffer the most from higher food and energy prices (V.P. Nandakumar is MD & CEO of Manappuram Finance Ltd. Views are personal.)

BUSINESS

Rajesh Nair Associate Partner, Ernst & Young LLP

The central idea of the book, poor economics is also to understand poverty from various prisms like nutrition, education, healthcare, savings mindset, entrepreneurial attitude, family planning, credit management, and saving money.

Off My Management Bookshelf During the Pandemic Days…

he pandemic brought some very interesting challenges in our personal lives and one of the few good points was the ‘me’ time! We got more time away from the melee of travel and meetings and there was a certain ‘settled’ and routine feature to our schedules. This also meant more time to read and get back to thinking. The three books I read and reread are in some way classics. I think ‘Thinking Fast and Slow’ is the finest management exposition written in the last twenty years. It is not a flip the page , potboiler – but a rigorous way that will help you reflect on your own management ethos and personal decision-making style. ‘Poor Economics’ is a necessary read because we don’t really think of inclusive growth and income divide, the way we should. We tend to forget that it is our moral duty and a business necessity to have a society that does not

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have too many divides and a wide chasm of prosperity ranges. ‘Quiet’ is a book that brings the introverts back to the fore, vehemently advocating the need for cautious communication, thinking, and analysing are more important than just putting your points vociferously across. Have fun reading and learning.

Thinking Fast and Slow

Daniel Kahneman, Economics Nobel Laureate of 2003, is recognized as one of the most influential thinkers alive today. Daniel Kahneman’s million-plus-selling 2011 book, Thinking, Fast and Slow — the distillation of his life’s work, dedicated to his collaborator Amos Tversky, who died in 1996 is by far one of the management classics of the last decade. His theories on thinking and cognitive psychology are recognized as what Darwin’s theory of evolution was to biology or what Newton is to Physics.

Thinking Fast and Slow is easily among the most influential management books of the last decade. The entire construct of the book is the idea that when we think, we use two systems. There is our “fast” System

1: automatic, effortless, intuitive, and capable of providing instant answers to simple questions like “2 + 2 =” or “Do you love your parents?” Then there is our “slow” System 2, which comes into operation when we need to stop and think about questions like “What’s 24 x 17?” or “How will the Indian economy pan out in 2020?” He argues with examples that decisions we take with lots of analysis have an equal weightage to succeed as the decisions we take at random. It is not an easy read in the beginning but once you catch the flow, it has more seminal ideas than any book in recent times.

Poor Economics

Abhijit Banerjee and Esther Duflo, a married couple are joint Economics Nobel prize winners working at MIT. They have documented their

travel and work to many poor economies and looked at poverty alleviation measures of governments and institutions. Their well-researched book is a bible for microfinance. The book documents some of the finest ideas in poverty alleviation and has some great frameworks to fight hunger and disease, improve education, and broaden access to basic financial services. The book was already a classic much before the Nobel announcements and is testimony to the importance of financial inclusion and self-help groups. The central idea of the book is also to understand poverty from various prisms like nutrition, education, healthcare, savings mindset, entrepreneurial attitude, family planning, credit management, and saving money. A detailed perspec-

tive is covered in every chapter and it forms a very valuable framework for policymakers and rural market-

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BUSINESS

ers alike. The parallel idea is also the lack of our understanding of what is poor. Most of us do not know what poverty means. We cannot understand it purely by applying for numbers like – what is per day expense of the poor? or what threshold defines the below poverty line boundary condition in a country! It is much more than that and has the play of economics, anthropology and politics and needs a concerted worldview to be eradicated. While there are many cases of inefficiency, inadequacy, or corruption, even mediocre policies can build significant progress if done in good faith for the stakeholders.

Quiet

Susan Cain, a former Wall Street lawyer, long-time committed introvert, and acclaimed public speaker, gave one of the most-watched TED Talks on this very subject: introversion and the ability to be quiet and observant. Her refreshing, contrarian, and engaging look at the hidden value of introversion is full of originality and insight. Whether you prefer quiet time alone with a book or an all-night block party, Cain will inform and possibly change your perception of yourself, people, teams, and the organization of society. She describes herself when she discusses how the cautious, thoughtful and reticent

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people among us – particularly in the West – can suffer discrimination in a culture that celebrates and lauds the “Extrovert Ideal.” If you’re an introvert, you’ll savor quiet – of course – satisfaction from the results of Cain’s seven years of meticulous research. Extroverts might recoil from – but then quickly deny – her revelations about their less-effective leadership, ability to learn and creative capabilities. In their next breath, being extroverts, they’ll delight in Cain’s confirmation that they do indeed run the world – or at least the Western part of it. To get the best from each employee, leaders must play to people’s strengths and avoid pressuring them to conform – no easy trick. On some level, Cain can barely stand extroverts – because they impose on her peacefulness – but she shows remarkable compassion for both sides of the fence. Whichever camp you belong to, Cain urges you to maximize your talents, skills and peace of mind by finding equilibrium. Put yourself in the right places or circumstances to access the level of stimulation that works for you, but no more. She also busts the normal myth that extroverts are the epitome of Charismatic leadership. Cain notes this allows extroverts to take chanc-

es, speak up and make friends. But most also crave status – the external confirmation of their internal self-portrait. They seek power and like to accumulate expensive items. But the extrovert’s need for constant stimulation raises obstacles to putting in enough study and reflection time to get the success required. The immense immediateness of her theories is also because of the new ‘work from home’ ethos, where the traditional conditions of good communication are being debated endlessly

PEGASUS

Comes Up With

Yet Another Magnificent

National Beauty Pageant

n terms of lifestyle, attire, diversity, market, and opportunities, Kerala's burgeoning bustling cosmopolitan and commercial capital Kochi has a style statement that sets it apart from the rest of the state. Kochi, the Queen of the Arabian Sea, hosted one of the most sought national beauty pageants, Manappuram DQUE Miss Queen of India 2022, which was organised by Pegasus, Asia's largest event production company. The 11th edition of Manappuram DQUE Miss Queen of India 2022 was conducted at Le Meridien Kochi. Miss Queen of India is a platform for intelligent and talented young girls to demonstrate their abilities. The pageant, which is the first of its type in the highly competitive field of fashion, attracted women from all over India. 19 girls from different parts of India competed in this prestigious beauty pageant. Vaishnavi Sharma from Rajasthan

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was crowned as Manappuram DQUE Miss Queen of India 2022. Meharmeet Kaur from Maharashtra earned the Miss Queen of India First Runner-up title and Abinaya Subramanian from Tamil Nadu won the Miss Queen of India 2nd Runner-up title. The winner was crowned by former Miss Queen of India winner Lakshmi Menon. Another wonderful feather in Pegasus' cap for organising nearly 10 events in the midst of the pandemic. The organisers deserve a lot of credit for the bravery they've displayed. The competition was held in accordance with the government's procedure in the context of the Covid 19 outbreak. Miss Queen of India, like other beauty pageants, does not judge participants solely on their beauty, but also on their intelligence,

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social commitment, and talent. The contestants were groomed by a team of experts and were judged by a group of renowned celebrities from the field of entertainment and fashion. Hari Anand (Fashion Designer), Lakshmi Menon (Model and Actress), Alesia Raut (Model and Groomer), and Siddhaant Vir Suryavanshi (Actor and Model) were on the judging panel. Both online and offline, the grooming session was meticulously planned. The online grooming session began 5 days before the pageant, and there were also two days of offline grooming. Apart from the main titles subtitles like Miss Personality, Miss Ramp Walk, Miss Talent, Miss Congeniality, Miss Popular, Miss Photogenic, Miss Social Media, Miss Dazzling Smile, Miss Pretty Hair, Miss Glowing Skin, Chavara Matrimony Best Bride To Be India and

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the regional titles were also awarded during the function. Afrin Sayeda, Deeksha Narang, Chandralekha Nath, Shanmughapriya N, Abinaya Subramanian, Gouri Gothankar, Shanmughapriya N, Dachani Santha Soruban, Kashish Arora Meharmeet Kaur and Vaishnavi Sharma earned the Miss Personality, Miss Ramp Walk, Miss Talent, Miss Congeniality, Miss Popular, Miss Photogenic, Miss Social Media, Miss Dazzling Smile, Miss Pretty Hair, Miss Glowing Skin and Chavara Matrimony Best Bride To Be In-

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dia subtitles respectively. The regional title Miss Queen North, Miss Queen West and Miss Queen South, were handed over to Shrutika Sharma, Aqsa Varghese and Shwetha Jayaram respectively. Pegasus Event Production Company is the first beauty pageant organiser to eliminate the iconic bikini round. With its beliefs, the company has carved out a distinct niche in the fashion market. The company's other major beauty pageant brands include Miss South India, Miss Asia Global, Miss Asia, and Miss

Glam World. The pageant is being held to highlight the country's diverse and rich cultural characteristics as well as to boost tourism. The winners were crowned with a gold crown designed by Parakkat Jewellers. Manappuram Finance Limited and DQUE were the main partners of the event, organised by Pegasus, which has an experience of around 20 years in the fashion industry. SAJ Earth Resorts, DQUE 78 TFM Grade One Soap, Naturals School of Makeup & VPS Lakeshore Hospital are the Powered by Partners.

Co-partners are Kalpana International, Zipfit Windows, Federal International Chamber Forum, Aiswaria Outdoor Media, UT TV, Unique Times, Times New, Europe Times, UT World, Fashion Konnect, Naturals School of Makeup, Photogenic Fashion & Weddings, Udaya Sound, Juzt shine Family Fitness, Million Dots, JD Institute of Fashion Technology, Parakkat Jewels and Green Media. Abinaya Subramanian from Tamilnadu, Afrin Syeda from Karnataka, Aishwarya from Rajasthan, Aqsa Varghese from Maharashtra,

Chandralekha Nath from Kerala, Deeksha Narang from Maharashtra, Deepthi Srirangam from Andhrapradesh, Dhachani Santha Soruban from Tamilnadu, Gauri Gothankar from Maharashtra, Kajal Bhardwaj from Rajasthan, Kashish Arora from Delhi, Komal Singh from Rajasthan, Meharmeet Kaur from Maharashtra, Reema Ravishankar from Kerala, Shanmughapriya N from Tamilnadu, Shruti Raul from Maharashtra, Shrutika Sharma from Uttarakhand, Swetha Jayaram from Kerala and Vaishnavi Sharma from Rajasthan were the contestants

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HEALTH

Dr Arun Oommen MBBS, MS (Gen Surg), MCh (Neurosurgery), MRCSEd,MBA Senior Consultant Neurosurgeon VPS Lakeshore Hospital NH-47, Bypass, Maradu, Nettoor PO, Kochi 682040, India.

Laughter-

A Powerful Medicine

aughter is a strong medicine. Laughter triggers healthy physical and emotional changes in the body. Laughter strengthens our immune system, boosts the mood, diminishes pain, and protects us from the damaging effects of stress. Nothing works faster or more dependably to bring our mind and body back into balance than a good laugh. Humor lightens our burdens, inspires hope, connects us to others, and keeps us grounded, focused, and alert. It also helps us to release anger and forgive sooner. With so much power to heal and renew, the ability to laugh easily and frequently is a tre-

mendous resource for surmounting problems, enhancing our relationships, and supporting both physical and emotional health. Children used to laugh hundreds of times a day, but as adults, life tends to be more serious and laughter more infrequent. But by seeking out more opportunities for humor and laughter, we can improve our emotional health, strengthen our relationships, find greater happiness and even add more healthy years to our life. A good, hearty laugh relieves physical tension and stress, leaving our muscles relaxed. Laughter makes us feel good. And this positive feeling remains with us even

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HOW LAUGHTER BENEFITS OUR BODY AND MIND Physical Health Benefits:  Boosts Immunity  Decreases stress Hormones  Reduces bodily pain  Reduces heart diseases and other lifestyle diseases  Relaxes our muscles

Mental Health Benefits:  Eases Anxiety and tensions  Improves the happiness quotient  Mood elevation  Improves resilience and reduce stress

Social benefits:  Improves personal and professional relationships  Enhances teamwork  Diffuses conflicts and improves group bonding  Improves our attractiveness

after the laughter subsides. Humor helps us keep a positive, optimistic outlook through difficult situations, disappointments, and loss. More than just a respite from sadness and pain, laughter gives us the courage and strength to find new sources of meaning and hope. Even in the most difficult of times, a laugh or even simply a smile can go a long way towards making us feel better. And laughter really is contagious, just hearing laughter primes our brain and readies us to smile. Laughter boosts the immune system by decreasing stress hormones and increasing immune cells and infection-fighting antibodies, thus improving our resistance to disease. Laughter triggers the release of endorphins (happiness hormones), the body’s natural feel-good chemicals. Endorphins promote an overall sense of well-being and can even temporarily relieve pain. Laughter protects the heart by improving the function of blood vessels and increasing blood flow, which can help protect us against heart attacks and

other cardiovascular problems. One study found that laughing for 10 to 15 minutes a day can burn approximately 40 calories—which could be enough to lose three or four kgs over the course of a year. Nothing diffuses anger and conflict faster than a shared laugh. Looking at the funny side can put problems into perspective and enable us to move on from confrontations without holding onto bitterness or resentment. We can’t feel anxious, angry, or sad when we are laughing. A study in Norway found that people with a strong sense of humor outlived those who don’t laugh as much. The difference was particularly notable for those battling cancer. Laughter reduces stress and increases energy, enabling us to stay focused and accomplish more. Laughter shifts perspective by allowing us to see situations in a more realistic, less threatening light. A humorous perspective creates psychological distance, which can help us avoid feeling overwhelmed and diffuse conflict.

Laughter brings people together and strengthens relationships which can have a profound effect on all aspects of our mental and emotional health. Most laughter doesn’t come from hearing jokes, but rather simply from spending time with friends and family. And it’s this social aspect that plays such an important role in the health benefits of laughter. We can’t enjoy a laugh with other people unless we take the time to really engage with them. When we care about someone and really connect face to face, we are engaging in a process that rebalances the nervous system and puts the brakes on defensive stress responses like “fight or flight.” And if we share a laugh as well, we will both feel happier, more positive, and more relaxed even if we are unable to alter a stressful situation. Shared laughter is one of the most effective tools for keeping relationships fresh and exciting. All emotional sharing builds strong and lasting relationship bonds, but sharing laughter also adds joy, vitality, and resilience. And humor is a

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HEALTH powerful and effective way to heal resentments, disagreements, and hurts. Laughter unites people during difficult times. Humor and playful communication strengthen our relationships by triggering positive feelings and fostering emotional connection. When we laugh with one another, a positive bond is created. This bond acts as a strong buffer against stress, disagreements, and disappointment. Laughter is an especially powerful tool for managing conflict and reducing tension when emotions are running high. Whether with romantic partners, friends and family, or co-workers, we can learn to use humor to smooth over disagreements, lower everyone’s stress level, and communicate in a way that builds up our relationships rather than breaking them down.

Laughter is innate and inborn

Laughter is our birthright, a natural part of life that is innate and inborn. Infants begin smiling during the first weeks of life and laugh out loud within months of being born. Even if we did not grow up in a household where laughter was a common sound, we can learn to laugh at any stage of life. Smiling is the beginning of laughter, and like laughter, it’s contagious. The simple act of considering the positive aspects of our life will distance us from negative thoughts that block humor and laughter. More often, people are very happy to share something funny because it gives them an opportunity to laugh again and feed off the humor we find in it. Spend time with fun, playful people.

Simulated Laughter

It’s possible to laugh without experiencing a funny event, and simulated laughter can be just as beneficial as the real thing. It can even make exercise more fun and productive. A Georgia State University study found that incorporating bouts of simulated laughter into an exercise program helped improve older adults’ mental health as well as their aerobic endurance. Plus, hearing others laugh, even for no apparent reason, can often trigger genuine laughter.

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To add simulated laughter into our own life, search for laugh yoga or laugh therapy groups. Or we can start simply by laughing at other people’s jokes, even if we don’t find them funny. Both persons will feel good, it will draw them closer together, and may even lead to some spontaneous laughter.

Developing a sense of humour

An essential ingredient for developing our sense of humor is to learn not to take ourselves too seriously and laugh at our own mistakes and foibles. As much as we’d like to believe otherwise, we all do foolish things from time to time. Instead of feeling embarrassed or defensive, embrace our imperfections. While some events in life are clearly sad and not opportunities for laughter, most don’t carry an overwhelming sense of either sadness or delight. They fall into the gray zone of ordinary life—giving us the choice to laugh or not. So, choose to laugh whenever we can. Attempt to laugh at situations rather than bemoan them. When something negative happens, try to make it a humorous anecdote that will make others laugh. Surround ourselves with reminders to lighten up. Keep a toy on our desk or in our car. Put up a funny poster in our office. Choose a computer screensaver that makes us laugh. Frame photos of our family or friends having fun. Try to avoid negative people and don’t dwell on news stories, entertainment, or conversations that make us sad or unhappy. Many things in life are beyond our control, particularly the behavior of other people. While we might view carrying the weight of the world on our shoulders as admirable, in the long run, it’s unrealistic and unhealthy. Stress can be a major impediment to humor and laughter, so it’s important to keep our stress levels in check.

Humor To Overcome Challenges And Enhance our Life

The ability to laugh, play, and have fun not only makes life more enjoyable but also helps us solve

problems, connect with others, and think more creatively. People who incorporate humor and play into their daily lives find that it renews them and all of their relationships. Life brings challenges that can either get the best of us or become playthings for our imagination. When we “become the problem” and take ourselves too seriously, it can be hard to think outside the box and find new solutions. But when we play with the problem, we can often transform it into an opportunity for creative learning. Playing with problems seems to come naturally to children. When they are confused or afraid, they make their problems into a game, giving them a sense of control and an opportunity to experiment with new solutions. Interacting with others in playful ways helps us to retain this creative ability. As laughter, humor, and play become integrated into our lives, our creativity will flourish and new opportunities for laughing with friends, coworkers, acquaintances, and loved ones will occur to us daily. Laughter takes us to a higher place where we can view the world from a more relaxed, positive, and joyful perspective

FINANCE

Adv Sherry Samuel Oommen: This article is authored by Adv Sherry Samuel Oommen. Adv Oommen, who specializes in constitution, tax and corporate laws has also cleared the final exams of the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India. He has also completed his Masters Degree in Commerce, apart from obtaining a Post Graduate Diploma in Business and Corporate Laws from Symbiosis Pune. The views expressly are personal and should not be construed as a legal opinion.sherryoommen@nashcp.com.

How the Budget Impacts Non-Profit Organisations

he changes proposed in the Union Budget 2022 are beyond a pale of doubt, a need for non-profit organisations to revamp their style of functioning. The manner in which charitable trusts and institutions are administered and managed has to be changed keeping in line with changing times. It would indeed be apodictic to infer that such institutions must necessarily be the change that they wish to see in the world. In this article, I intend to delve into some of the changes that would impact charitable trusts and institutions as per the Finance Bill, 2022 from a direct tax perspective. The views expressed in this article are purely personal and should not be considered as an expression of a legal opinion.

A. Changes to taxation framework:

1. The Central Government has proposed to insert an explanation

in Sections 10(23C) and 11 of the Income-tax Act, 1961 (‘the Act’), whereby it is proposed the voluntary contributions given for the purpose of renovation or repair of church, for instance, would be treated as forming part of the corpus of the trust, subject to certain conditions. This amendment is proposed to be effective from 01 April 2021, which is indeed a welcome clarification. 2. In the case of institutions falling within the purview of sections 10(23C) and 12A of the Act would now, apart from undertaking a compulsory audit, would need to compulsorily maintain books of accounts and other documents to be notified. This amendment is proposed to be effective from 01 April 2023. Alongside the said change, the Government has now proposed that the provisional approval granted under section 10(23C) of the Act can be cancelled at any time in the event of their being a perceived violation of

the relevant conditions. Thus, the burden of proof on proving that the stated conditions have been complied with would clearly now shift to the concerned institution. It thus becomes imperative for non-profit organisations to ensure that they are in strict conformity with law. In my experience, sadly, proceedings once initiated are rarely dropped at the initial stage. While the provisions of the Bill mandate an opportunity of being heard, it is quite likely that this opportunity of hearing would turn out to be an empty formality, as the conclusion is already pre-determined. Hence, the need to have robust control and audit measures is imperative. 3. It is now proposed that the application of income shall be reckoned only on ‘payment’ basis. This has helped clear an earlier ambiguity in determining the manner of reckoning the application of income (whether on accrual or on payment

The Union Budget has proposed to introduce exit tax to be levied at maximum marginal rate if the Trust is converted into a non-charitable organisation or gets merged with a non-charitable organisation or a charitable organisation with dissimilar objects or does not transfer upon its dissolution all of its assets to such specified person within a period of 12 months from the end of the month in which the dissolution takes place.

Apr - May 2022

basis). This change is proposed to be effective from the current year, i.e., FY2021−22 itself. 4. A trust/institution is required to allocate at least 85 percent of its income towards charitable activities in a particular year. However, in the event this threshold is not met, the law allows for the accumulation of funds to be earmarked for charitable purposes in the future years (not exceeding five years), subject to certain conditions. Currently, such accumulated funds can be used even in the year subsequent to the previous year of accumulation—if it is not used in such subsequent year as well, then the funds not applied become taxable in such subsequent year. Now, it is proposed to do away with the option of allowing application in such subsequent year. Therefore, if the accumulated funds are not entirely utilised up to the previous year of accumulation, then the funds not applied become taxable in such last year. This change is proposed to be effective from FY22−23. 5. A trust/institution will be liable to penalty for diversion of income/provision of excessive benefits to trustees/other specified persons. The penalty will be equal to 100 percent of the amount diverted in case of the first instance and will go up to 200 percent of the amount diverted in case of violations in subsequent years. This change shall become effective from FY 2022-23 onwards. 6. Currently, there is no explicit

provision determining the manner of computation of taxable income resulting on account of non-compliances. It is now proposed that the taxable income resulting on account of prescribed non-compliances (such as not maintaining prescribed books of accounts, not filing the Return of Income, and carrying on commercial activities for consideration beyond the prescribed threshold) shall be computed after allowing deduction of revenue expenditure incurred in India, but subject to various conditions therein. This change shall be effective from FY 2022-23 onwards. 7. The Budget has also proposed that if trust/institution diverts income/ provides excessive benefits to trustees/other specified persons or deploys its funds in prohibited investments, then only that part of income that is diverted/regarded as excessive benefit/deployed in prohibited investments would be taxable. Such income would be taxable at the rate of 30 per cent allowing for any deductions. This change shall be effective from FY 2022-23 onwards.

B. Rationalisation of the administrative/procedural framework

1. The provisions dealing with withdrawal of the registration/approval of a trust/institution have been revamped. Notably, the new provisions enumerate certain ‘specified violations’ that will lead to a withdrawal of the registration/approval - among them is having a business

that is not incidental to the attainment of its objectives, material noncompliances in other legislations, etc. This change shall be effective from FY 2022-23 onwards. 2. The Union Budget has proposed to introduce exit tax to be levied at maximum marginal rate if the Trust is converted into a non-charitable organisation or gets merged with a non-charitable organisation or a charitable organisation with dissimilar objects or does not transfer upon its dissolution all of its assets to such specified person within a period of 12 months from the end of the month in which the dissolution takes place. These amendments will take effect from 1st April, 2023 and will accordingly apply in relation to the assessment year 2023-24 and subsequent assessment years. 3. The Budget has now brought in consistency in terms of various procedural requirements for both trusts as well as other specified institutions as listed below: a. Requirement to file a Return of Income for claiming exemption. This is now applicable to both trusts and other specified institutions. b. Accumulation of funds to be applied for charitable purposes in future years subject to conditions is now also made applicable for other specified institutions. c. Income diverted/excessive benefits provided to trustees/other specified persons result in such amount becoming taxable for the trust/institution now applies squarely for specified institutions. I would urge institutions to serious consider revamping their current processes. The time to change is now before it gets late to a point beyond reprieve. Such organisations which have based themselves on the tenet of charity should always remember that they have been created to do ‘good work’. In doing so, such institutions would indeed need to render to Caesar, what is meant for Caesar!!!

Apr - May 2022

WELLNESS

Revitalize Your Mind and Body

with the Science of Life:

Yoga and Ayurveda

Chitvvan Waraich, Head of Marketing & Communications

oga and Ayurveda are complementary ancient healing traditions with roots in the Vedas, one of the world's oldest religious books, if not the oldest. 'Veda' is a Sanskrit word that signifies 'knowledge.' The main ideas relating to the underlying purpose and function of our existence, as well as our particular response to it, were written in these ancient scriptures. The Sanskrit name 'Ayurveda' means 'knowledge of life and longevity,' while 'Yoga' means 'union.' Individual consciousness combined with heavenly consciousness. The Yajur

Apr - May 2022

Veda goes into great length about yoga, while the Atharva Veda and Rig Veda reference Ayurveda principles and remedies. Both theories are founded on the panchamahabuthas, or five essential elements (earth, air, fire, water, and space), as well as the trigunas, or three universal energies that are omnipresent and in perpetual flux within us: The creative and harmonious spirit responsible for actions of truth, clarity, and love is known as 'Sattva.' This energy promotes happiness, calm, good health, and healing.

The energy of 'Rajas' is one of passion and chaos. If the individual is dominating, he or she will crave power and authority. Rajas Guna is most prevalent in stimulants, such as sex, coffee, alcohol, narcotics, and other stimulants, that create excitement and an instant high. The energy of 'Tamas' is naturally destructive and chaotic, and it follows the energy of 'Rajas.' Abuse, depression, and illness are all symptoms of Iat. Both ancient systems, interestingly, are big proponents of the mind-body connection and believe

that a healthy mind dwells in a healthy body. While YOGA elucidates this equilibrium through asanas, postures, and meditation, Ayurveda prescribes herbal treatments based on an individual's body type and genetic composition to revive and heal. Both Ashtanga yoga and Ashtanga Ayurveda have eight branches and have similar anatomy in terms of 72,000 nadis or energy channels, chakras or energy centres, the panchakosahs or five bodily sheaths, and the ultimate kundalini shakti - the primal indestructible energy. In the late 1980s, yoga became popular in the western world. The exciting and extremely novel "mind-body-spirit" concept of physical fitness was eagerly embraced, and it quickly became a craze. Unfortunately, Ayurveda, its medicinal counterpart, was left behind because it required more skill and paraphernalia of herbs and medications that could only be prescribed by professionals to an individual because the therapies were not mass-applied and required thorough customization. This took away the world's wonderful wellness synergy. Yoga is concerned with the holistic health component of Vedic teachings, whereas Ayurveda is concerned with healing, and when the two are combined,

they provide individuals with individualised comprehensive answers for their physical, mental, and emotional well-being. Simply said, wouldn't it be preferable if a person had a better understanding of his or her particular body type before starting a wellness and recovery program? This is the value that this synergy provides. They are inextricably linked and mutually beneficial. Yoga asanas, for example, when prescribed for specific body types, help to bring balance, while Ayurveda treatments aid to remove toxins, making the body more supple and allowing it to do Yoga more efficiently. Carnoustie's Yoga and Ayurveda professionals and doctors believe that wellbeing should emphasise an individual's unique physical and mental characteristics, and that wellness cannot be "one size fits all." Individualised treatments with Yoga and Ayurveda aspects are prescribed based on the individual's unique genetic composition, which they refer to as the individual Dosha type. When regarded as a whole, Yoga can be tailored to the smallest detail of an individual's physiological and mental characteristics, improving its efficacy. What follows is more than just a workout routine; it's a one-of-a-kind mind-bodyspirit experience

Apr - May 2022

HEALTH & FITNESS

OBESITY AND BELLY FAT:

8 Simple Ways to Lose It

besity is generally caused by eating too much and moving too little. If you consume high amounts of energy, particularly fat and sugars, but do not burn off the energy through exercise and physical activity, much of the surplus energy will be stored by the body as fat. And although no excess fat is good, one type of excess fat is much more dangerous than the others. Research shows that abdominal fat is the worst of the worst. There are many reasons why people gain belly fat, including poor diet, lack of exercise, and stress. Improving nutrition, increasing activity, and making other lifestyle changes can all help. Belly fat refers to fat around the abdomen. Belly fat refers to fat around the abdomen. There are two types of belly fat: • Visceral: This fat surrounds a person’s organs. • Subcutaneous: This is fat that sits under the skin. Being overweight is one of the leading causes of major diseases.

Excess belly fat can increase the risk of: • Heart disease • Heart attacks

Apr - May 2022

• High blood pressure • Stroke • Type 2 diabetes • Asthma • Breast cancer • Colon cancer • Dementia Sugary foods such as cakes and candy, and drinks such as carbonated water and fruit juice, can cause weight gain and slow a person’s metabolism. It also reduces a person’s ability to burn fat. Low-protein, high-carb diets may also affect weight. Protein helps a person feel fuller for longer, and people who do not include lean protein in their diet may eat more food overall If a person consumes more calories than they burn off, they will put on weight. An inactive lifestyle makes it hard for a person to get rid of excess fat, particularly around the abdomen. There is some evidence that a person’s genes can play a part in whether they become obese. Genes can influence behaviour, metabolism, and the risk of developing obesity-related diseases. And the habits like smoking, alcohol consumption and poor sleep will also cause obesity. Alcoholic drinks often contain ad-

ditional sugar, which can contribute to weight gain. Consuming excess alcohol can cause a variety of health problems, including liver disease and inflammation.

How do fat??????

you

lose

belly

1. EAT PLENTY OF SOLUBLE FIBER Soluble fiber absorbs water and forms a gel that helps slow down food as it passes through your digestive system. It reduces the body’s ability to absorb fat, lowers cholesterol and blood sugar levels and reduce heart disease risk Source of soluble fiber: • Flax seeds • Brussels sprouts • Avocados • Legumes • Blackberries Soluble fiber may help you to lose weight by increasing fullness and reducing calorie absorption. Try to include plenty of high-fiber foods in your weight loss diet. 2. AVOID TRANS FAT A high intake of trans fat increases belly fat gain. Regardless of whether you’re trying to lose weight, limiting your intake of trans fat is a good idea. Trans fat is found in some margarine and spreads and is also often added to packaged foods. These fats have been linked to inflammation, heart disease, insulin resistance, and abdominal fat gain. To help reduce belly fat and protect your health, read ingredient labels carefully and stay away from products that contain trans fats. 3. AVOID ALCOHOL Excessive alcohol intake has been associated with increased belly fat. If you need to reduce your waist-

line, consider drinking alcohol in moderation or abstaining completely. 4. EAT A HIGH PROTEIN DIET Protein is an extremely important nutrient for weight management. High protein intake increases the release of the fullness hormone, which decreases appetite and promotes fullness. Make sure to include a good protein source at every meal. High protein foods, such as fish, lean meat, and beans, are ideal if you’re trying to shed some extra pounds around your waist. 5. DO AEROBICS EXERCISE (CARDIO) Aerobic exercise is an effective weight-loss method. Studies suggest it’s particularly effective at slimming your waistline. Aerobic exercise (cardio) is an effective way to improve your health and burn calories. Studies also show that it’s one of the most effective forms of exercise for reducing belly fat. However, results are mixed as to whether moderate or high-intensity exercise is more beneficial. In any case, the frequency and duration of your exercise program are more important than its intensity. One study found that postmenopausal women lost more fat from all areas when they did aerobic exercise for 300 minutes per week, compared with those who exercised 150 minutes per week. 6. AVOID REFINED CARBS A high intake of refined carbs is associated with excessive belly fat. Consider reducing your carb intake or replacing refined carbs in your diet with healthy carb sources, such as whole grains, legumes, or vegetables. Diets with under 50 grams of carbs per day cause belly fat loss in people who are overweight, those at risk for type 2 diabetes, and women with polycystic ovary syndrome. 7. DO WEIGHT TRAINING Strength training can be an important weight loss strategy and may help reduce belly fat. Studies suggest it’s even more effective in combination with aerobic exercise. Weight lifting, also known as resistance training or strength training, is important for preserving and gaining muscle mass. Based on studies involving people with prediabetes, type 2 diabetes, and fatty liver disease, resistance training may also be beneficial for belly fat loss. 8. TRACK YOUR FOOD INTAKE AND EXERCISE USING A DIARY Many things can help you lose weight and belly fat, but consuming fewer calories than your body needs for weight maintenance is key. Keeping a food diary can help you monitor your calorie intake. This strategy has been shown to be beneficial for weight loss. In addition, it will help you to see your intake of protein, carbs, fiber, and micronutrients. Also, record your exercise and physical activity

Apr - May 2022

MOTIVATION

Dolly Maria Dolly Maria is founder of THE IGNIST, a training company born out of a noble cause and spirit. She holds a decade long experience being a passionate mentor and entrepreneur.

The whole world is built by those people who believed in the impossible – those who believed in the unseen. Confidence brings in the right level of influence, which fuels your success.

LET THE CROWD FOLLOW YOU!

ave you ever wondered why do we model and follow certain individuals over others? Why are we so impressed and influenced by some people? Those people are leaders in action. Entrepreneurs must be good leaders. You will not see a successful entrepreneur stepping back from the responsibilities that he is expected to do – whether it be to lead the team or to be accountable for his roles. When it’s all going wonderful, he needs to give due credit to the team. And when the going gets tough, she should persevere to be a leader that motivates. An entrepreneur leader organizes, innovates, motivates, mentors, and coaches the team, set an example, takes responsibilities, be a lifelong learner and be much more. Entrepreneurial leadership was once defined as “organizing a group of people to achieve a common goal using proactive entrepreneurial behavior by optimising risk, innovating to take advantage of opportunities, taking personal responsibility and managing change within

Apr - May 2022

a dynamic environment for the benefit of [an] organisation”. Everyone has their own brilliant ideas – But how do you ensure success? Leadership skills are an integral part of an aspiring and successful entrepreneur. An entrepreneur must always be consciously aware to develop her leadership skills and needs to invest time in learning. In the initial stages of starting a business, the founder mostly does all the multi-tasking ending up taking on more than they can manage. Then slowly a team is developed and the tasks are delegated accordingly. For a successful entrepreneur, it all but boils down to execution – ensuring that the job at hand is done with and every single day he tracks an exponential growth in all sectors of the company. Managing yourself and others becomes a prerogative thus; you need to set clear priorities, line up the right team, delegate tasks in a timely manner, strategize a realistic plot, and roll out the action plans. Let’s have a look at the components that maketh a good leader.

The first and foremost thing needed is a Positive attitude. You need to walk the talk and be extremely hopeful about the company’s growth. Unless you have a very clear positive outlook about your future, you cannot expect anyone else to have that for you. Your team models your attitude and language. Even amidst the worst situations, it is your steadfast belief in making things happen that motivates the team to survive those tough times. Every entrepreneur goes through hardships. The key is to break down the challenges into smaller chunks and find ways to solve them one by one. Honesty is another trait a leader should always possess. You always need to be transparent with your team. You never should have a hidden agenda. It is also about treating your people fairly that will encourage them to side with you to do the right thing. Set ethical organizational values. When your team is convinced about your honesty and open-heartedness about the goals ahead, the team will be only more than happy to co-operate with

you in fulfilling those goals, no matter how hard it may sound. Always communicate openly with your team and be genuine in your talks. That brings us to the next trait a leader should possess – Communication skills. This is one of the most important areas an entrepreneur should always be conscious about. It all depends on how well you communicate with your clients and team. Communication is the core of effective leadership. As we know, it can be verbal and non-verbal. Communication helps them to cascade their ideas clearly to others. You must be skilled at effective communication thus – need to be authentic, should be a good listener, should show support, be direct and simple, be understanding & encouraging, be trustworthy, and an example to others through your right way of communication. Arrogant leaders often blame others and miss out to understand their followers - Humility is great valuesuccessful entrepreneurs possess. Successful humble communication encourages positive collaboration and fruitful growth. A good leader understands that it is his team that helps him win. Hence he will make it his priority to lead them well. Great people can bring due confidence into you. Another trait a leader should pos-

sess thus is Confidence. A confident leader can always lead easily, shape her team and guide them with ease. It’s easier for them to make the right decisions faster. Confident leaders are visionaries, who have very clear goals set in their hearts and persevere without giving up. He eliminates obstacles tactically, bounce back from their mistakes in lesser time, and takes pride in their own skillsets. Nothing is more powerful than a person who believes in himself, that he can do the impossible. The whole world is built by those people who believed in the impossible – those who believed in the unseen. Confidence brings in the right level of influence, which fuels your success. Self-doubting is self-sabotaging. A leader with self-confidence is always optimistic, takes necessary risks needed to reach their goals, reconnect with the strongest talents, and leads from the front. A confident entrepreneur will have a clear vision, an undying desire to build something, a brave will to set sail and a foolproof plan to reach milestones. You should not be distracted by your competition, develop a selective ignorance about certain things, and be discerning to give attention to what matters to you in winning the journey. Another inevitable trait a leader

must possess is taking Ownership. From his ideas to goals to the team to the future, it is all about how she or he takes accountability. When he invites a set of people to join to make his dream come true, from that second he is responsible to make it happen. Most of the time, the sole responsibility of taking and making the right choice lies on the leader’s shoulders. The buck should stop at the entrepreneur. It’s the pressure that makes the brightest diamonds – hence the responsibility of taking the right choice, taking the unavoidable risks and facing the consequences, good or bad, that come along with it should be boldly confronted. The sky is not the limit for a persevering leader – breakthroughs happen when we keep at them. There can be many challenging times. We do not grow without the struggles, challenges, roadblocks, and learnings associated with it. We must be able to receive positive and negative feedback in a much more constructive fashion. A great leader would not lead by force, but by inspiring the cause. Constant focus and execution matter in bringing about great productive results. “As we look ahead to the next century, leaders will be those who empower others.” -Bill Gates.

Apr - May 2022

GADGETS

Samsung Galaxy F23 5G

Rs. 15, 999 Approximately Android v12 6.6 inches (16.76 cm) Display 50 MP + 8 MP + 2 MP Primary Cameras 8 MP Front Camera 4 GB RAM 128 GB Internal Memory 5000 mAh Battery Capacity

Oppo k10

Rs 14,990 (Approximately) Android v11 6.59 inches (16.74 cm) Display 50 MP + 2 MP + 2 MP Primary Cameras 16 MP Front Camera 6 GB RAM 128 GB Internal Memory 5000 mAh Battery Capacity

Apr - May 2022

itel Vision3

Rs 7,999 (Approximately) Android v11 6.6 inches (16.76 cm) Display 8 MP Primary Cameras 5 MP Front Camera 3 GB RAM 64 GB Internal Memory 5000 mAh Battery Capacity

Samsung Galaxy A53 5G

Rs 34,499 (Approximately) Android v12 6.5 inches (16.51 cm) Display 64 MP + 12 MP + 5 MP + 5 MP Primary Cameras 32 MP Front Camera 6 GB RAM 128 GB Internal Memory 5000 mAh Battery Capacity

Apr - May 2022

BEAUTY

Render Tomatoes a Part of Your Beauty Routine and Enjoy the Benefits

he benefits of tomatoes for skin are numerous, and they are readily available in practically every kitchen and enjoyed by everybody. Tomatoes have a diverse range of phytochemicals that can benefit your health in a variety of ways. To mention a few of their health benefits, they are beneficial to your skin, heart, neurological function, and mental well-being. It contains a number of skin-beneficial vitamins and nutrients that can help you get the skin you desire. It contains lycopene, an antioxidant found in tomatoes that can help to mend damaged skin and restore its natural, healthy glow. Its acidic and astringent characteristics make it a fantastic component for oily or acneprone skin. Tomatoes are high in vitamins A, B, C, and E, all of which are excellent hair boosters. These vitamins aid in the prevention of hair loss, the enhancement of natural shine, and the treatment of scalp odour and dandruff. Eating roughly 4 to 5 tomatoes a day assures you have outstanding hair health and lustrous

Dr. Elizabath Chacko, MD-Kalpana International

Mob: 9388618112

Apr - May 2022

tresses to show off. Tomatoes contain Vitamin A, Flavonoid B complex, Thiamine, Folatesn, and Niacin, which aid in the treatment of eye diseases such as night blindness and enhance vision when consumed on a daily basis.

Reduces Excessive Oil

While tomatoes are beneficial to the skin in a variety of ways, this is the most well-known. Excessive oil production is a typical complaint among oily and acne-prone individuals. It might detract from your overall appearance and make applying makeup more difficult. If you're tired of using blotting papers to remove oil from your face, try this natural approach involving tomatoes. To acquire smooth and oil-free skin, cut a tomato in half and rub one half on your face thoroughly, then rinse with water after 10-15 minutes.

Treats Oily Scalps

This brilliant red fruit is acidic in nature and helps to keep the pH balance of our scalp in check. Our scalp generates less oil as a result, and our hair does not grow greasy. Tomatoes are not only edible but they may also be used as a natural hair conditioner. Apply tomato pulp to your hair and leave on for 15 minutes before rinsing with cold water. Vitamin C relieves dandruff, eczema, and psoriasis on the scalp, as well as boosts collagen for optimal scalp tissue formation.

Removes Dead Skin

Your skin will appear dull if it is

covered in dead skin cells. Use a tomato to make your skin glow from the inside out. Tomatoes assist in the removal of dead skin cells. It works best when combined with sugar. In a mixer, grind the tomatoes and add the sugar. Apply the paste to your face, massage it in for a few minutes, and then wash it off. While you may have heard that combining sugar and tomato pulp and applying the mixture to your skin is a good idea, we recommend using it exclusively as a body scrub. The skin on your face is delicate, and the sugar granules can easily irritate it. To gain the benefits of to-

mato for the facial skin, simply apply the pulp as it is.

Prevents Premature Grey Hair

Tomatoes are high in vitamins and minerals, which nourish the scalp and delay the onset of grey hair. Tomatoes protect hair against oxidative damage while also strengthening it. Applying tomato pulp to your hair and scalp on a regular basis for 1520 minutes will help you get rid of premature grey hair.

Treating Lip Pigmentation

Tomato has significant skin lightening properties which help to treat pigmentation on the lips. Also, toma-

toes are rich in water which ensures that the lips will stay plump and hydrated. The anti-oxidant properties of tomato also protect the lips from free radical damages. In general, there are no unavoidable negative side effects. However, because everyone's skin is different, not all tomato combinations will work for you. Before using it on a daily basis, it's usually a good idea to run a patch test to see how your skin reacts. Avoid taking it if you experience any discomfort or redness.

Stay Beautiful! Stay Healthy!

Apr - May 2022

TRAVELOGUE

Arizona There are no limits to what you can see and do in Arizona, and each part of the state transports you to a different world with its own set of circumstances, people, and opportunities for making the most of your vacation.

Apr - May 2022

Home of the World’s

Best Wonders A

rizona has long been a popular tourist destination for visitors from all over the world, as it is home to numerous landmarks for sightseeing and adventure. There are a variety of things to do in Arizona that attract visitors to this beautiful state. Visitors to Arizona are treated to scenic wonders and monuments that are difficult to describe in words.

Natural parks, mountain ranges, city streets, and bars are all great places to visit in Arizona if you want to engage in some fun activities. There are no limits to what you can see and do in Arizona, and each part of the state transports you to a different world with its own set of circumstances, people, and opportunities for making the most of your vacation.

Apr - May 2022

TRAVELOGUE

Best Time to Visit Arizona

It's difficult to pinpoint the best time to visit Arizona because the state offers fantastic tourist conditions all year. With its pleasant temperatures and incredible blooms, the months of March through May can be a fantastic time. This is when the number of visitors begins to increase, but you can still catch a sunset at peaceful Antelope Canyon. Summer in Arizona is hot and humid, and many attractions are packed to the brim with tourists. As a result, it's preferable to take a breather at Cibecue, Havasu, or Tanque Verde Falls. Fall, like spring, is a wonderful time to visit Arizona because of the warm weather and abundance of things to do. On Veteran's Day in November, don't miss a solar spotlight at the Anthem Veterans Memorial. If you want to save money or don't want to deal with crowds, go in the winter. You will be warmly welcomed by numerous light parades and festivals.

Top Place to Visit in Arizona

Take a look at our list of the best places to visit in Arizona before you embark on your journey.

Antelope Canyon

Antelope Canyon, a jaw-dropping slot canyon in Northern Arizona, is sure to impress. Swirling orange sandstone and ethereal light beams (which appear during the summer months) combine to create a magical, otherworldly experience. To visit this area, which is part of the Lake Powell Navajo Tribal Park, visitors must sign up for a guided tour. In the nearby town of Page, Arizona, you'll find lodging options like the Best Western Plus at Lake Powell and the Comfort Inn & Suites Page at Lake Powell if you want to stay overnight. Antelope Canyon is a must-see, according to previous visitors, who also mention that tour guides can often provide expert advice on how to take the best photos while there.

Grand Canyon

It's impossible not to be inspired by the Grand Canyon when standing on the rim and looking out over the endless ridges of colourful cliff walls and deep ravines. In the late afternoon sun, the canyon glows

Apr - May 2022

with hues of orange, red, yellow, and everything in between. The Grand Canyon, one of America's most popular tourist destinations, and certainly in Arizona, is a sight that must be seen to be fully appreciated. The enormity of this natural wonder, carved out over centuries by the Colorado River, which can be seen in the distance far below, is captivating.

Sedona

Sedona has one of the most beautiful settings in Arizona, surrounded by stunning red rock mountains and buttes. Sedona is a popular day trip from Phoenix, about a 1.5-hour drive north, but the town is worth much more than a few hours. The drive into Sedona from the south, starting in the Village of Oak Creek, is breathtaking, with pullouts along the way to enjoy the scenery.

Sedona's main street (89A) is a great place to spend an afternoon because it's full of interesting tourist shops, art galleries, and restaurants. If you're looking for great hiking and mountain biking trails, the town is also one of the best places to visit in Arizona. Sedona also has a number of excellent golf courses and golf resorts. Consider staying at one of Sedona's spa resorts if you're looking for something a little more relaxing.

Phoenix

Phoenix is a great base for exploring Arizona, but it's also a popular winter destination for golfers and sun-seekers looking for a relaxing stay at a resort or spa while basking in the desert heat. You'll find great shopping, dining, golf courses, desert parks with hiking trails, biking trails, campgrounds, and some outstanding attractions in

TRAVELOGUE

the Phoenix Metropolitan Area, which includes Scottsdale and Mesa. The Heard Museum and Frank Lloyd Wright's Taliesin West are at the top of the list of places to see in Phoenix. If you plan on staying in the area for a while, there are some fantastic day trips from Phoenix that will take you to cliff dwellings, historic mountain towns, ghost towns, and even the Grand Canyon.

Hoover Dam

One of America's great engineering feats is the Hoover Dam. Completed in 1935, this massive structure spans the Colorado River, connecting Arizona and Nevada. It has a height of 726 feet and a length of 1,244 feet. The largest artificial lake in the United States is Lake Mead, which is held back by the Hoover Dam. It stretches 110 miles and can hold the equivalent of two years' worth of Colorado River flow. There is no charge to drive or walk across the dam, but there is a parking fee. A tour of Hoover

Apr - May 2022

Dam or the Powerplant is another option. The visitor centre has a café with some basic food options, as well as information on the dam and tours.

Explore the Ghost Town

Arizona is littered with ghost towns, which sprang up during mining booms only to be abandoned when the mines dried up. The remains of the old jail and general store from Gleeson's heyday as a turquoise mining town can be found 16 miles east of Tombstone. Tip Top, like Gleeson, was one of the most active mining towns in the state, having been founded in the 1870s to mine silver and is located about 50 miles north of Phoenix. There are dozens of buildings left over from the town's glory days, including a post office, saloons, a school, and a brewery. There are often off-roading and hiking trails nearby, as well as haunted hotels, in addition to exploring old buildings and structures in these old towns. You could easily spend several hours

just wandering through the various buildings and looking at the various relics scattered about (just exercise caution as the buildings are old). The majority of them are free to visit, though a few are on private property and charge admission. If you prefer a guided tour, go to Castle Dome, Vulture City, Ruby, or Goldfield Ghost Town, all of which offer them. Get Ready to Visit More in Arizona With so much to offer, Arizona has become one of the most popular tourist destinations in the United States. Geographically and naturally, the destination is distinct from other tourist destinations. Arizona has an almost infinite number of things to do, making it a one-stop shop for travelers seeking peace, adventure, and a heavenly experience. Travel expands the mind and fills the gap. – Sheda Savage

Happy Traveling!!

AUTO REVIEW

Vivek Venugopal is one of India’s top automotive writers with over a decade’s experience in road-testing and reviewing cars. He is currently the Editor of Quarter Mile magazine and a columnist in several leading magazines and newspapers. He is also a highly sought after consulting engineer and market analyst for many automobile manufacturers.

Apr - May 2022

The Slavia has great suppleness that absorbs bumps and delivers a consistent ride. The long-travel suspension has good body control too. The Slavia doesn’t dart into corners but you can drive it fast with massive confidence.

he Slavia is Skoda’s attempt to rekindle some of the lost interest in sedans. And what better way to do it than with one that’s driver-focussed like this 1.5 TSI with 150bhp? 150bhp was Mk1 Octavia RS power and even today cars in that segment top out at 120-125bhp. And if you go for the automatic, it’s not some boring CVT they have paired it to, but a quick-shifting 7 speed DSG. So is it enough to make us forget our crossovers and embrace the fun to drive sedans, once again?

For one thing, they have given it a high driving position and crossover-like 179mm ground clearance in an attempt to appeal to everyone. The styling, as a result, has suffered a bit with a higher beltline, too much visual mass around the body and lots of gaps in the wheel wells. The proportions are a far cry from what we have seen on Skoda sedans but the styling elements are unmistakably Skoda. It is bigger than the Mk1 Octavia with a best-inclass wheelbase of 2650mm and massive 521 litre boot space. The

Skoda Slavia Slavia has almost 90 percent localization as with other vehicles of the MQB A0IN platform. The interior quality isn’t the typical Skoda and is quite similar to what we saw in the Kushaq. The plastic quality is average and the seat covers look like an aftermarket fitment. There is a bronze strip that runs across the dashboard and the design gets carried over to the cluster that’s digital unlike the analogue ones in the Kushaq. The two spoke steering wheel is similar to the Octavia’s and all the controls have a reasonable heft. There is a 10.1-inch touch screen and while the resolution and rear camera

Apr - May 2022

AUTO REVIEW

quality are nothing great, it comes with quality audio with 8 speakers and a subwoofer. The front seats are great, with ventilated seatbacks and lots of adjustments for a comfortable driving position. The rear seats are a bit low, but they offer a great amount of legroom and plenty of under-thigh support. Right, on to the engine, then. The Slavia gets a 115bhp, 175Nm 1.0L 3cyl engine and a 150bhp, 250Nm 1.5L 4cyl engine. The 1.0L is sufficient for most people to drive around town and has adequate performance with 0-100kmph coming up in 11.2 seconds. The 1.5 is the

Apr - May 2022

one to get if you enjoy driving and in a sedan, that makes all the difference. It is an eager motor with a punchy midrange and decent top end. It does 0-100kmph in 9.4 seconds which makes it the quickest in its segment. There is plenty of power for highway overtakes and you will enjoy winding it up to its 6600rpm redline a lot. The downsides, it’s not very refined and is a bit dull below 1800rpm. The DSG is just as enjoyable as the manual and is the one we would pick. The Slavia has great suppleness that absorbs bumps and delivers a consistent ride. The long-travel sus-

pension has good body control too. The Slavia doesn’t dart into corners but you can drive it fast with massive confidence. The 1.0L variant feels relatively lighter in the front than the 1.5. The brakes are alright with a good pedal feel. The Slavia is a breath of fresh air in the mid-size sedan segment. It has everything that sedan lovers like with lots of space, good ride, enjoyable handling and two capable engines to choose from. The 1.5L variant costs nearly 2 lakhs more than an otherwise identical 1.0L version. Wish they did a bit more differentiation to justify that price difference

MOVIE REVIEW

Jhund

hund is a Hindi-language biographical sports film about Vijay Barse, the founder of the NGO Slum Soccer in India directed by Nagraj Popatrao Majule. Inspired by the story of real-life football coach Vijay Barse, who uplifted slum children through football and launched the concept of slum soccer, Nagraj has used his Dalit life experience to make a sensitive statement on the need to bridge the social fault lines, without applying any sugar coating. Amitabh Bachchan excels in the roles he takes on. This time, he's a retired sports professor who, despite obstacles and financial limitations, uses his time and money to safeguard and nurture children from Nagpur's slums. To summarise, this is a dramatic sports film that may not have the customary thrilling moments around every corner for you, but the point it seeks to make will hit you square in the face.

The Kashmir Files

he Kashmir Files written and directed by Vivek Agnihotri is an Indian Hindi-language drama film. The story is based on the genocide and exodus of Kashmiri Pandits in the 1990s due to a theological and political rebellion with a "Convert to Islam, Leave or Die" agenda. Anupam Kher, Darshan Kumar, Pallavi Joshi, and Mithun Chakraborty play key roles in the film. Darshan Kumar and Anupam Kher, who are really magnificent and believable in every scene they are in, and Pallavi Joshi, who is diabolical as hell, as well as Chinmay Mandlekar as Bitta Karate, who is equally terrifying, lead an all-star cast that is phenomenal in their individual roles. The film depicts the agony, fear, and torment that innocent Kashmiri pandits endured in the 1990s. The film shows the genuine facts of how and why they were forced to flee overnight without their stuff in order to defend their honour and lives. Every aspect of the film is commendable, including the actors' performances, the story, and the direction.

Apr - May 2022

Etharkkum Thunnindhavan

andiraj's Tamil-language action thriller Etharkkum Thunindhavan was written and directed in 2022. Etharkum Thunithavan is a family entertainer that is meant for everyone, especially ladies. It has raised awareness among girls about how to deal with societal issues. Suriya, Saranya Ponvannan, Sathyaraj and Priyanka Arul Mohan are seen in the movie playing pivotal roles. The film depicts a number of events in which men abuse their parents' and family members' political clout. In today's society, there are numerous stumbling blocks. This film depicts how technology is disrupting Tamil and Indian culture. The film also recognises the ambiguous nature of vigilantism and extrajudicial killings. The hero uses the legal system to obtain justice, and only when all other avenues have been exhausted does he take the law into his own hands. He even has a line in which he says he understands the value of life.

Bachchhan Paandey

arhad Samji directed and Sajid Nadiadwala produced Bachchhan Paandey, is an Indian Hindi-language action comedy film. The plot revolves around a young director who seeks to undertake a secret study on a cruel mobster in order to make a film on gangster life, but her attempts to do so fail when she is caught snooping. It's a remake of the Tamil film ‘Jigarthanda’ from 2014, which was inspired by the South Korean film ‘A Dirty Carnival’ from 2006. Akshay Kumar, Kriti Sanon, Jacqueline Fernandez and Arshad Warsi are seen in the movie playing pivotal roles. Akshay Kumar elevates swagger and attitude to new heights. When he needs to be intimidating, he's great, but he's also great in the comedic and emotional scenes. Arshad Warsi once again confirms that he is a fantastic comic actor, and we need to see more of him. This is an engaging picture that will provide you with a great deal of fun. It means that the film will contain a mixture of humour, action, and a love story, among other things. This is a film that you should see if you have the opportunity to do so.

Apr - May 2022

BOOK REVIEW

The Golden Couple Author Price

: Greer Hendricks and Sarah Pekkanen : ` 1,829 (Hardcover)

he Golden Couple is a contemporary fictional thriller novel written by Greer Hendricks and Sarah Pekkanen. The story revolves around Marissa and Mathew Bishop who appear to be the perfect pair, the golden couple. However, the relationship isn't perfect, as one of them has strayed. They turn to Avery, a former therapist who was barred from practising because of her unusual methods. All Matthew and Marissa have to do now is finish Avery's ten sessions, and their marriage will be golden once more...or will it not? The story is told from the perspectives of two brilliant, successful women, Avery and Marissa, but all of the characters in the novel are well-developed and play a role in the outcome. Conversations are natural, and everyday settings are realistically depicted. Many chapters end on small cliff-hangers, making this an engrossing read.

One Italian Summer Author Price

: Rebecca Serle : ` 1,601 (Hardcover)

ne Italian Summer is a contemporary fictional romance novel penned by Rebecca Serle. The story is about Katy who is devastated when her mother Carol passes away after a long struggle with cancer. Her mother and she were inseparably close, and their bond was legendary. Katy decides to go to Italy on her own, despite the fact that they had planned a trip together. She goes off to Italy, leaving her life and husband behind, in search of the closure and clarity she so desperately craves. When Katy lands in Italy, the plot shifts to a more fictitious tone, with Katy being transported back in time 30 years and befriending Carol, the Carol she knew as a child. Katy soon connects her sadness, love, and frantic want to reconnect with Carol, delving further into a time long gone in which the secrets of this independent, free-spirited mother are revealed. This story is about overcoming loss and the importance of being connected to those we love. This book will make you dream about your own transcendent experience and the possibilities that being true to yourself may bring, with its stunning surroundings and tantalising Italian encounters.

Apr - May 2022

The Next Thing You Know Author Price

: Jessica Strawser : ` 2,134 (Hardcover)

he Next Thing You Know is a Fictional novel written by Jessica Strawser. Mason Shaylor, an outstanding singer-songwriter, fears his life is finished at 36 when a botched surgery makes him unable to play the guitar. Is that true, though? That is a topic that Strawser deftly answers through the tumultuous and impossible-to-beautiful story of Mason and his end-of-life doula, Nova Huston, who survived a terminal cancer diagnosis herself. The Next Thing You Know is a timeless story of love, grief, and how we may heal through the deepest links of connection. It's an emotional, dramatic journey that examines the largest questions about life, death, and love. The plot twists are kept coming by the author deftly, leading to a bittersweet but ultimately consoling conclusion. Strawser gently handles the loss and pain that comes with death, and she does so with the help of a brilliant supporting cast. This clever and touching novel has a satisfying conclusion.

The Book of Cold Cases Author Price

: Simone St. James : ` 1,829 (Hardcover)

he Book of Cold Cases is a suspense thriller novel written by Simone St. James. Shea Collins was a little girl who at the age of nine, just avoided being a Crime Victim. At day, she's a receptionist, but by night, she's a true crime blogger—her website "The Book of Cold Cases" is a collection of blogs and articles on unsolved crimes—a hobby for a lady who has trouble in sleep. So, what's a lady to do when the infamous Beth Greer, walks into Shea's doctor's office? Of course, she attempts to acquire answers. The Book of Cold Cases is a gripping story about a fantastic cold case involving a female serial killer who remains unknown. With the reemergence of the suspected killer, an amateur sleuth attempts to piece together the culprit's identity, which leads her into a dark, deadly, and strange area. One of the best aspects of this novel was the atmosphere, which gave numerous layers of additional creepiness. A large section of the story takes place in a haunted home filled with vengeful ghosts.

Apr - May 2022

EASY & BREEZY

Why do we go places?

hen I visited a prominent place of worship the other day, I had to wait in the queue for two hours and more. Initially, one had to stand, then sit – no lying down, mercifully – before being allowed in for the last big (c)rush towards the sanctum. The brief glimpse of the Lord was worth the wait and the image would stay in the mind for years perhaps, compensating for the temporary hardship. During the long wait, there was enough time for contemplation. Why do people take so much trouble – during the journey, a road accident involving a couple of vehicles caused us to wait and take a detour – to visit a particular place or institution, far away from where they live, whether the trip is spiritual or recreational in nature? As the word ‘spiritual tourism’ indicates, we do combine the spiritual and the mundane during such journeys. More than the fact that they want to reach somewhere, people undertake such trips so that they can get away from somewhere, which happens to be where they live. They want to give up the usual, boring surroundings at least for a while. Not just their dwelling but the monotonous routine crushes

Apr - May 2022

them so badly that they don’t mind going somewhere else and stand in a queue for hours and hours. The destination – Pattaya, Dubai, Goa – often gives away the motives behind the trip. People want to move away from the familiar, which could well be your routine or your partner, and seek new attractions. There may be some serious-minded travellers who get some kick out of museums and tombs but most people would like to meet other people and strike new friendships. Ultimately, men and women want to meet men and women and not just wander around Mohenjo-daro, which, by the way is in Pakistan, and as someone who has been there, I can vouch that it gets boring after a while. Another reason why we go to places other than our own is to create pleasant memories. This is also the reason why we take lots of photographs. Not just of the monuments and mountains but of them, with us in the foreground. Once you post them ‘insta’antly, you not only let others partake in your experience but also document it for future. It helps that Facebook, and I suspect its other derivatives, props up the recorded memories once every 365 days. Most of us also use the physical way of calling up friends to

Sujit Chandra Kumar has been working as an editor with leading publications for over three decades

let them know where we went and what we did. “It is simply out of the world. You must see it at least once, I am telling you.” You as well as the listener knows that it is not out of any special desire on your part for the other person to have the same experience that you took the trouble of making that phone call. The idea is to make him feel that you did something that the other guy is yet to attempt. Finally, even as we seek and find ‘weekend getaways’, what keeps us in good cheer as we go and explore is the quiet comfort that there is our own little place to get back to, at the end of the trip. Otherwise, we won’t have any different mindset than a fugitive from Ukraine. The hotel room maybe very cosy but it is our own much-worn bed that provides us the best sleep. It is our hearth that gives forth maximum warmth and home-made grub is superior to any lavish buffet

Printed On 09/ 04/ 2022

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