STATE TIMES NEWS
JAMMU: Grabbing the opportunity of Assembly presentation, the students of Grade XII Commerce stream exhibited their profound interest and knowledge pertaining to the economic scenario of the country.
Soha Ali set the tone and tenor for the assembly with a powerful quotation and Pooja Kumari presented the thought for the day. The school Head Boy Ayush Singh Andotra fired salvos of economic terms laden with facts & figures.
“With a GDP of $3.1 trillion, India is the world’s 6th largest economy. The country has one of the highest GDP growth rates in the world. India’s GDP will likely to grow by 8% in FY 22. However, there are wide disparities within the country’s economy – while 6.25% of the total population pays income tax. Contrary to this fact, India also has one of the highest numbers of billionaires in the world. The Per Capita Income has risen rapidly in the recent past yet millions of people continue to live in extreme poverty”, the head Boy reflected.
“The economic growth in India has slowly accelerated in the last 50 years without any prolonged reveals. The GDP has slowly increased from 4.4% in the 1970s to 5.5% during the 1990s and further to 7% in the late 2010s. The country aims to become a $5 trillion economy by 2025. The services sector accounts for 53.89% of total India’s Gross Value Added (GVA) of Indian Rupee (IR) 179.15 lakh crore. With GVA of IR 46.44 lakh crore, the Industry Sector contributes a little less than 26% while Agriculture and allied sectors shares 20.19%”, Soha Ali continued.
“Foreign exchange reserves act as the first line of defence for India in case of economic slowdown. India’s total foreign exchange (FOREX) reserves stands at around $580.252 billion as of July 2022. With this I would like to conclude by saying “If we decided, we can achieve the 5 trillion dollar goal it’s just we have to take up the responsibility and show commitment”, concluded Pooja Kumari.
While making reflections towards the end of the Assembly presentation, JKPS Principal Rajesh Rathore lauded the endeavours of the talented students of JKPS Kunjwani & expressed his genuine concern based on the figures shared by the presenters.
Without mincing words, he made it loud & clear to the audience, “Dear children! Our country is aiming to achieve desperately the target of $5 trillion economy by 2025 but alas, only 6.25 % people of our great nation pay the Income Tax. How ironical & paradox! Filling our own coffers will never transform our nation into an Economic Superpower ahead. He sought a fair promise from the students to stay honest and pay their Income tax very honestly. He appealed children to be extremely successful ahead, earn big & pay the taxes religiously.
Students made a fair promise to cherish the learning of the day: Country Before Self. The atmosphere got reverberated with a thunderous applause.
