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In the budget speech of the finance minister , introduction of a new initiative was mentioned. It aimed at 100% mechanisation of the cleaning of sewers & septic tanks.  It is officially named as, the “National Action for Mechanised Sanitation Ecosystem (NAMASTE). It will be a centrally sponsored scheme, as a joint initiative of the Ministry of Social Justice and Empowerment and the Ministry of Housing and Urban Affairs.  It is aimed at reducing the fatalities of sanitation workers to zero, avoiding contact with human faecal matter, deployment of skilled staff at the work, access to alternative livelihoods for sanitation workers, etc. Scheme also includes the identification & enumeration of sewer and septic tank workers. This scheme mentions about the identification & enumeration of the informal and contractual workers engaged in hazardous cleaning operations. The aim of zero fatalities, was a long awaited initiative found its mention in the NAMASTE scheme. So the s...

Ben Bernanke, Douglas Diamond & Philip Dybvig laid the foundation of  research in modern banking  in 1980s.Their research is based analysis generated practical solutions  in regulating financial markets & dealing with financial crises. It also explained the banking mechanisms to deal with vulnerability in crises. The research is based on the collapse of banking in 1929 & resultant financial crisis of 1930s.  Diamond & Dybvig developed theoretical models that explain the societal needs of the bank, their role in society which makes them vulnerable to rumours of their possible collapse, & how society can lessen this vulnerability. These insights form the foundation of modern bank regulation.   For the regular functioning of  economy it is essential to channelize the savings to the investments. But there is a paradox , depositors in saving accounts  want instant access to their money in case of unexpected situations, while en...

The recent summers in Europe and America witnessed unusual growth in temperature. The temperature in its high was even more than 40°C.  The wildfires spread across the Europe and America was the result of extreme heat and the dry weather conditions, resulted in loss of around 19000 hectares of forests in Southwestern France.  Italy is reeling under the 200 days long drought , especially in Po river basin , which is called as “food bowl” of the Europe. At least 748 heat-related deaths have been reported in the heat wave in Spain and neighboring Portugal, where temperatures reached 47° C in recent month.  Considering the average annual temperature, the last eight years have been the hottest ever recorded through direct measurements since the 1880s, a NASA analysis showed.  Global temperature has seen a rise of 1°C in recent times. Even polar temperature has seen a variation of 3° C. According to the research workers,  anthropogenic factors are responsible for the ...

  Popularly called  a “bottomless basket” by Henry Kissinger in 1974, Bangladesh has shown unexpected economic development.   It is now one of the world’s fastest-growing economies.  Bangladesh has got a versatile geography. It has largest delta in the world.  It is located on the foothills of the Himalayan range, the streams that carry the silt to Bangladesh from those mighty mountains eventually become the roaring rivers of Padma, Meghna and Jamuna. The fresh water and the fertile land made this land attractive to human habitation from ancient times.  Since the 1990s, the economic and other development indicators have steadily improved due to the growth of its manufacturing sector, exports of garments, and microfinance.  In the last three decades, progressive and dynamic NGOs such Grameen Bank and Fazle Hasan Abid’s BRAC, which have put money for micro enterprises into the hands of women, have worked wonders with social, educational and economic...