Higher spending on fuel crowding out consumer expense on health

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Mumbai, July 13 | As fuel prices soar to unprecedented levels in the country, higher expenditure on fuel by consumers is eating into their capacity to spend on health.

Every 10 per cent increase in petrol pump prices leads to a 50-basis point increase in the Consumer Price Index (CPI), said the SBI Ecowrap report.

“Our analysis of SBI card spends indicates that spend on non-discretionary health expenditure has been substantially reduced to accommodate increased expenditure on fuel. In fact such spending has more than crowded out the spending on other non-discretionary items, like grocery and utility services to such an extent that the demand for such products has significantly declined,” it said.

The share of non-discretionary spend on items like fuel has jumped to 75 per cent in June from 62 per cent in March 2021.

CPI inflation moderated marginally to 6.26 per cent in June from 6.30 per cent in May. Core also moderated to 6.16 per cent.

The headline inflation was much lower than market expectations and surprised pleasantly on the downside. Food items, especially protein items and oils and fats though are still exhibiting increase in prices in contrast with the global trend. The FAO Food Price Index averaged 124.6 points in June, down 2.5 per cent from May. The decline in June marked first drop in the index following 12 consecutive monthly increases and was brought about by decline in prices of vegetable oils, cereals and, dairy products.

Interestingly, the decline in June inflation print reveals an across the board decline in sequential momentum. Items in core basket having disproportionately larger weights that had exhibited significant jump in prices in May are now back to trend path. Surprisingly most items in food and non-food have registered a de-growth in June, the report said.

“This raises the broader question whether the May’21 inflation print was a data aberration given that most of the country was under the grip of a lockdown in May’21. Interestingly this is all the more possible as core inflation in May’21 has undergone a large downward revision,” it said.

Coming to the other major component fuel, the report authored by Soumya Kanti Ghosh, Group Chief Economic Adviser at State Bank of India, between May and June, the international crude prices went up by $6/bbl. The future outlook hinges on the production increases by OPEC+.

“The recently cancelled meeting of OPEC+ indicates that we are headed towards elevated levels in Brent and this will have cascading impact on fuel inflation in India. Our calculations show that with every 10% increase in petrol pump prices (Mumbai) there is 50 bps increase in CPI,” it said.

Source: IANS

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PURPOSE FUELS YOUR PASSION: MUNISH MAYA

PURPOSE FUELS YOUR PASSION: MUNISH MAYA

Don’t get confused with your purpose and passion as both go well together

Passion as well as purpose both goes hand in hand. Purpose defines the passion in life. If you are passionate about something then there will be a purpose behind it. And if you feel that you are passionate about something but you are not able to find the purpose behind it then please do self-analysis. There is surely something that you are missing out on. Munish Maya in his Instagram post took out few minutes to write about Purpose and Passion, as he feels that it is an important topic to be discussed with everyone. Mr. Maya started writing his post by making a statement, “Many people confuse passion with purpose. Others struggle to find both.”

Self-analyzing is a very tough job and it’s completely natural to get confused. Solving this problem Munish Maya says, “Passion & purpose are distinct. Passion is the drive, the energy that makes us feel good. Like they say, ‘do what you love.” People follow their passion to live a stress-free life where they can enjoy whatever the work they are doing. It is well said, ‘Follow your passion and there will not be a single day when you will have to work.’ Whereas the most asked question in relevance to passion, ‘What is the purpose?’ is answered very well by Munish

Maya in his same post, “Your purpose is the reason, your ‘Why’ behind what you do.” 

Passion and purpose go hand in hand. Munish Maya says, “From over a decade, I experienced, learned, evolved & developed new passions. They have changed my life & perspective in a great way.” Passion serves the purpose of life. Munish Maya himself followed his passion when he realized that he cannot do a 9-5 profile job, and look at him now, he is the 1st Global Brand Ambassador of India. His passion leads him to define the purpose of his life. The only purpose of Munish Maya’s life is to serve people by guiding and enlightening them about their lives.

This confusion between passion and purpose is not for the lifetime. To which Munish Maya explained by saying, “But the sweet spot is where your passion & purpose align.

One fuels your internal drive while the other maximizes your outward impact.” When both purpose and passion start to align then you will start gaining success and positivity in life.

Munish Maya describes it more beautifully, “And in the path of manifestation, Purpose fuels Passion. By focusing on your purpose, you align your work with your deepest drive- your passion.” If you are passionate about something in your life, then the purpose of your life is served.

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CAT 2021 Registration Process to End on 15th Sep

CAT 2021 Registration Process to End on 15th Sep

CAT 2021: 6 days left to apply for this entrance Exam for admission into IIMs, IITs, FMS, MDI, SPJIMR and other top Business Schools.

IIM, Ahmedabad is going to close the CAT registration 2021 window on Sep 15, 2021. Going by trends however, they may extend the application date by another week or two.

The Common Admission Test (CAT) is scheduled to be held on Nov 28. The Indian Institute of Management Ahmedabad (IIM A), conducting the CAT exam 2021, will close the CAT 2021 registration on Sep 15. Candidates seeking MBA admission 2022-23, 2022-24 batch and interested in appearing for IIM CAT 2021 can fill up the CAT application form.

The CAT applications 2021 is available only in online mode at the official CAT website.  For completing the CAT registration process, candidates will have to pay a CAT application fee of INR 2200.00 for the general category and INR 1100.00 for the reserved category.

Only 7 days left to apply for the CAT Exam, it is the most popular management entrance exam of India. IIMs, IITs, FMS, MDI Gurgaon, SPJIMR, IMT Ghaziabad, XIM University, IMI Delhi, MICA, FORE School of Management, TAPMI, GIM Goa, LIBA, GLIM,  NIRMA, IFMR GSB, LBSIM and other top Business Schools accepting CAT Score. IIM Ahmedabad, IIM C, IIM Lucknow, XIM University, GLIM and other B Schools open applications for 2022-24 batch.

Select from 150+ MBA Colleges shortlist and Apply here,

CAT 2021 eligibility criteria

  • Academic qualification: Candidates should have a Graduation/ Bachelor’s degree in any stream from a recognized University/ Institute. Final year students are also eligible to apply for CAT 2021.
  • To be eligible for the CAT exam 2021, 50% marks (45% for SC/ ST/ PwD) in Graduation/ Bachelor’s degree was mandatory. However, due to the pandemic situation in the country, some changes have been made in this regard:
    • Candidates in the final year: Students with “promotion/ pass” instead of “award of marks” certificates in any of the last two years of the bachelor’s degree can enter the “Promotion or Pass” option in the CAT application form. It will allow the student to complete and submit the CAT 2021 application form. This eligibility relaxation is also applicable to those final year students with an “award” of marks.
    • Candidates graduated in 2020 and 2021: Due to the implementation of the above point, and considering that there could be different evaluation patterns adopted by different institutes/ universities across the country due to the COVID pandemic, the CAT committee has decided to remove the minimum percentage of marks criterion (50% and 45% [or equivalent CGPA] respectively) for the CAT 2021 exam.

About CAT 2021 The Common Admission Test CAT 2021 is a national level management entrance exam that is mandatory to take for admission into respective IIMs , IIT and over 1000+ B-schools across the country. CAT Exam 2021 will be conducted as a computer-based test in three sessions at over 420 test centres in 158 cities across the country. The CAT question paper comprises questions from Verbal Ability & Reading Comprehension (VARC), Quantitative Aptitude (QA), and Data Interpretation & Logical Reasoning (DILR). Students can expect the difficulty level of the CAT exam 2021 will be moderate to high.

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“Impact of Pandemic on Organisations” to be published in ‘Abhigyan’- peer-reviewed, journal of Foundation for Organisational Research and Education’ (FORE)

“Impact of Pandemic on Organisations” to be published in ‘Abhigyan’- peer-reviewed, journal of Foundation for Organisational Research and Education’ (FORE)

The outbreak of the Covid-19 pandemic has impacted organizations, industries, and businesses worldwide. It has applied a sudden brake on the organization’s function, compelling them to look for and adopt newer ways of survival. Organizations are also experiencing significant changes in personnel behaviors, which have further impacted organizational performance and outputs. It has led to the transformation of the working environment processes and procedures, communication and personnel relations, operational, and financial management, etc.

In response to the above, “Abhigyan which is a peer-reviewed, double-blind (refereed) quarterly Management Journal of the ‘Foundation for Organisational Research and Education (FORE), focusing on management and organizational research, is publishing a special thematic issue titled “Impact of Pandemic on Organisations” to record the effect of Covid-19 on the functions and activities of the organizations.

It shall cover original research articles and review studies related to sub-themes of challenges and opportunities for organizations, organizational performance management, impact on international students, government policies to help MSMEs, and unforeseen consequences of a pandemic on organizational development.

Abhigyan”, which has been published since 1983, provides an appropriate platform for readers across all domains for the exchange of ideas. In the present case, this issue with its focus on Covid-19 is intended to help the readers to have further awareness of the impact of the pandemic on various aspects of business and organizational management. It is hoped that this will be a welcome addition to the growing body of academic and organizational research on the post-Covid-19 business environment and help in finding ways and means to respond to the challenges emanating from it effectively.

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