Its a fact that there will be no recession in India ever.
In India a child is brought up by teaching him all religious rituals and making him visit religious places regularly and during his school vacations. And thing he is taught religiously is to donate at such religious places either money or in kind. Now you must be wondering how it is connected to recession. Here's how believe it or not on average every earning member in India has sub conscious habit built into him to donate a certain percent of his monthly or new income to religious places as
offerings to their respective Gods as a thanksgiving for helping the person earn that income. These religious places basically religious trusts enjoy income tax exemptions on such anonymous donations received by such religious places with some conditions of course. One of the conditions is that books have to be audited if income of such religious trust exceeds more than Rs.120000 per year. To maintain this exemption Trust have to prove that atleast 85% of such income is spend for charitable purposes defined under income tax. Some being relief to the poor, medical relief, education, etc. These Trusts use the donations received for such charitable purposes. Now to your surprise we can very easily say that these Trusts are professionals in spending the donations at right places such as offering food to poor, providing education materials, medical relief, etc. These Trusts are so good at their work that a rupee donated in the donation box is returned back to the society in such a way that it creates indirect employment to numerous people. Take a simple eg when food is distributed daily employment is generated for grocers, cooks, servers, watch keepers, accountants, priests, transporters, caterers, pandal keepers, etc. This system is so uniquely widespread in India that you will hardly find this kind of wide spread practice in any other country in the world. These religious trust are present across the length and breath of India and their functioning is a learning for all charities and philanthropist across the world. These religious trusts are always there silently serving people be in crisis or otherwise be it day or night. With such kind of well developed, well researched centuries old system in place India can never face recession in real sense.
There are also past events to support these theory. When recession was looming at its peak in 2008 all across the world suddenly century old treasure in Padmanabhan Temple discovered in Southern India which was priceless. The treasure was hidden behind seven gates each gate when opened was filled with gold and precious stones in unimaginable size and quantity. When valuations were called in by apex court of India valuers had hard time valuing the treasurer. By rough estimates reported in news the treasurer was worth much more than Rs.3 Lac crores which is more than some percentage of India's GDP.
Even today when world is worried about deep recession caused by ongoing coronavirus crisis these religious trusts are very professionally handling the crisis by doing what they do daily providing food shelter clothing medical relief to the needy at this point when India is under lock down and created temporary unemployment for daily wagers. Their importance cannot be felt than in current situation.
These fallback system is so robust and time tested that it will never let India face any real recession for centuries to come.
In India a child is brought up by teaching him all religious rituals and making him visit religious places regularly and during his school vacations. And thing he is taught religiously is to donate at such religious places either money or in kind. Now you must be wondering how it is connected to recession. Here's how believe it or not on average every earning member in India has sub conscious habit built into him to donate a certain percent of his monthly or new income to religious places as
offerings to their respective Gods as a thanksgiving for helping the person earn that income. These religious places basically religious trusts enjoy income tax exemptions on such anonymous donations received by such religious places with some conditions of course. One of the conditions is that books have to be audited if income of such religious trust exceeds more than Rs.120000 per year. To maintain this exemption Trust have to prove that atleast 85% of such income is spend for charitable purposes defined under income tax. Some being relief to the poor, medical relief, education, etc. These Trusts use the donations received for such charitable purposes. Now to your surprise we can very easily say that these Trusts are professionals in spending the donations at right places such as offering food to poor, providing education materials, medical relief, etc. These Trusts are so good at their work that a rupee donated in the donation box is returned back to the society in such a way that it creates indirect employment to numerous people. Take a simple eg when food is distributed daily employment is generated for grocers, cooks, servers, watch keepers, accountants, priests, transporters, caterers, pandal keepers, etc. This system is so uniquely widespread in India that you will hardly find this kind of wide spread practice in any other country in the world. These religious trust are present across the length and breath of India and their functioning is a learning for all charities and philanthropist across the world. These religious trusts are always there silently serving people be in crisis or otherwise be it day or night. With such kind of well developed, well researched centuries old system in place India can never face recession in real sense.
There are also past events to support these theory. When recession was looming at its peak in 2008 all across the world suddenly century old treasure in Padmanabhan Temple discovered in Southern India which was priceless. The treasure was hidden behind seven gates each gate when opened was filled with gold and precious stones in unimaginable size and quantity. When valuations were called in by apex court of India valuers had hard time valuing the treasurer. By rough estimates reported in news the treasurer was worth much more than Rs.3 Lac crores which is more than some percentage of India's GDP.
Even today when world is worried about deep recession caused by ongoing coronavirus crisis these religious trusts are very professionally handling the crisis by doing what they do daily providing food shelter clothing medical relief to the needy at this point when India is under lock down and created temporary unemployment for daily wagers. Their importance cannot be felt than in current situation.
These fallback system is so robust and time tested that it will never let India face any real recession for centuries to come.
No comments:
Post a Comment