on 19-Jan-2021 (Tue)

Buddhism ( / ˈ b ʊ d ɪ z əm / , US: / ˈ b uː d -/ )^[1][2] is the world's fourth-largest religion^[

born Siddhārtha Gautama in the 5th or 4th century BCE

Mahāyāna (Sanskrit: "The Great Vehicle").

Buddha's Four Noble Truths, the goal of Buddhism is to overcome suffering (duḥkha) caused by desire, attachment to a static self, and ignorance of the true nature of reality (avidya).

Widely observed practices include taking refuge in the Buddha, the Dharma and the Sangha, observance of moral precepts, Buddhist monasticism, Buddhist meditation, and the cultivation of the Paramitas (perfections, or virtues).

The evidence of the early texts suggests that Siddharta Gautama was born in Lumbini and grew up in Kapilavastu,^{[note 2]} a town in the Ganges Plain, near the modern Nepal–India border, and that he spent his life in what is now modern Bihar^{[note 3]} and Uttar Pradesh.

father was a king named Suddhodana, his mother was Queen Maya, and he was born in Lumbini.

According to early texts such as the Pali Ariyapariyesanā-sutta ("The discourse on the noble quest," MN 26) and its Chinese parallel at MĀ 204, Gautama was moved by the suffering (dukkha) of life and death, and its endless repetition due to rebirth.^[

namely Alara Kalama (Sanskrit: Arada Kalama) and Uddaka Ramaputta (Sanskrit: Udraka Ramaputra), learning meditation and philosophy, particularly the meditative attainment of "the sphere of nothingness" from the former, and "the sphere of neither perception nor non-perception" from the latter.

Gautama first studied under two teachers of meditation, namely Alara Kalama (Sanskrit: Arada Kalama) and Uddaka Ramaputta (Sanskrit: Udraka Ramaputra), learning meditation and philosophy, particularly the meditative attainment of "the sphere of nothingness" from the former, and "the sphere of neither perception nor non-perception" from the latter

He famously sat in meditation under a Ficus religiosa tree now called the Bodhi Tree in the town of Bodh Gaya and attained "Awakening" (Bodhi).^{[ citation needed ]}

on awakening, the Buddha gained insight into the workings of karma and his former lives, as well as achieving the ending of the mental defilements (asavas), the ending of suffering, and the end of rebirth in saṃsāra.

He spent the rest of his life teaching the Dharma he had discovered, and then died, achieving "final nirvana," at the age of 80 in Kushinagar, India.^[4

dukkha (suffering, incapable of satisfying, painful) is an innate characteristic of existence in the realm of samsara;^{[web 2][3][4]}

samudaya (origin, arising) of this dukkha, which arises or "comes together" with taṇhā ("craving, desire or attachment");^{[web 3][5][6]}

nirodha (cessation, ending) of this dukkha can be attained by the renouncement or letting go of this taṇhā;^{[7][8][9][10]}

magga (path, Noble Eightfold Path) is the path leading to renouncement of tanha and cessation of dukkha.^[11][12][13]

Many later Buddhist texts describe nirvana as identical with anatta with complete "emptiness, nothingness".^{[144][145][146][note 19]} In some texts, the state is described with greater detail, such as passing through the gate of emptiness (sunyata) – realising that there is no soul or self in any living being, then passing through the gate of signlessness (animitta) – realising that nirvana cannot be perceived, and finally passing through the gate of wishlessness (apranihita) – realising that nirvana is the state of not even wishing for nirvana.^{[135][148][note 20]}

Pratityasamutpada, also called "dependent arising, or dependent origination", is the Buddhist theory to explain the nature and relations of being, becoming, existence and ultimate reality. Buddhism asserts that there is nothing independent, except the state of nirvana.^[158] All physical and mental states depend on and arise from other pre-existing states, and in turn from them arise other dependent states while they cease

It states that because Avidyā (ignorance) exists Saṃskāras (karmic formations) exists, because Saṃskāras exists therefore Vijñāna (consciousness) exists

In Theravada Buddhism, a Buddha is someone who has become awake through their own efforts and insight. They have put an end to their cycle of rebirths and have ended all unwholesome mental states which lead to bad action and thus are morally perfected.

Theravada generally sees Gautama Buddha (the historical Buddha Sakyamuni) as the only Buddha of the current era. While he is no longer in this world, he has left us the Dharma (Teaching), the Vinaya (Discipline) and the Sangha (Community)

sammasambuddha is also said to teach the Dharma to others

while a paccekabuddha (solitary buddha) does not teach.^[

Mahāyāna Buddhism meanwhile, has a vastly expanded cosmology, with various Buddhas and other holy beings (aryas) residing in different realms. Mahāyāna texts not only revere numerous Buddhas besides Sakyamuni, such as Amitabha and Vairocana, but also see them as transcendental or supramundane (lokuttara) beings

In Mahāyāna, a Buddha is a kind of "spiritual king", a "protector of all creatures" with a lifetime that is countless of eons long, rather than just a human teacher who has transcended the world after death.^[

"Dharma" (Pali: Dhamma) in Buddhism refers to the Buddha's teaching, which includes all of the main ideas outlined above. While this teaching reflects the true nature of reality, it is not a belief to be clung to, but a pragmatic teaching to be put into practice.

In that sense it is also the ultimate truth and reality about the universe, it is thus "the way that things really are."

"Sangha", which refers to the monastic community of monks and nuns who follow Gautama Buddha's monastic discipline which was "designed to shape the Sangha as an ideal community, with the optimum conditions for spiritual growth."

bodhicitta (the wish to become a Buddha that arises from a sense of compassion for all beings)

Mahāyāna Buddhism generally sees the attainment of the arhat as an inferior one, since it is seen as being done only for the sake of individual liberation. It thus promotes the bodhisattva path as the highest and most worthwhile

There is also a separate definition of Sangha, referring to those who have attained any stage of awakening, whether or not they are monastics. This sangha is called the āryasaṅgha "noble Sangha".

these āryas (Pali: ariya, "noble ones" or "holy ones") who are spiritually attained beings. Aryas have attained the fruits of the Buddhist path.^[191] Becoming an arya is a goal in most forms of Buddhism.

In Theravada, the future Buddha is called Metteyya (Maitreya) and he is revered as a bodhisatta currently working for future Buddhahood.^[193]

In early Buddhism and in Theravada Buddhism, an arhat (literally meaning "worthy") is someone who reached the same awakening (bodhi) of a Buddha by following the teaching of a Buddha.^[192] They are seen as having ended rebirth and all the mental defilements. A bodhisattva ("a being bound for awakening") meanwhile, is simply a name for someone who is working towards awakening (bodhi) as a Buddha. According to all the early buddhist schools as well as Theravada, to be considered a bodhisattva one has to have made a vow in front of a living Buddha and also has to have received a confirmation of one's future Buddhahood.

“As per IMF’s calculations, the total fiscal support in response to COVID-19 amounted to about 12% of global GDP by mid-September 2020,

“Global public debt is said to have reached 100% of GDP in 2020. As a result, most economies are expected to emerge from the pandemic with higher deficits and debt vulnerabilities.”

Setting up a BIC as a holding company or a core investment company was suggested by the P.J. Nayak Committee in its report on ‘Governance of Boards of Banks in India’.

With the RBI raising concerns over the issuance of zero-coupon bonds for recapitalisation of public sector banks (PSBs),

“Financial stability is a public good and its resilience and robustness need to be preserved and nurtured by all stakeholders. We need to support economic revival and growth, we need to preserve financial stability,” he said.

“I would like to unambiguously reiterate that the Reserve Bank remains steadfast to take any further measures, as may be necessary, while at the same time remaining fully committed to maintain financial stability,” he added.

ndia’s exports rose marginally to $27.2 billion in December, while imports surged 7.6% to $42.6 billion, official data showed.

India’s overall exports (merchandise and services) in April-December 2020-21 were estimated at $348.5 billion, showing a negative growth of 12.7% YoY. Overall imports fell 25.9% to $343.3 billion.

“The trade deficit for December 2020 was estimated at $15.44 billion as against the deficit of $12.49 billion in December 2019, an increase of 23.66%,” according to the data.

On the positive side, the brokerage said credit demand is bottoming out and the real lending rates, adjusted for wholesale price inflation, are falling.

China was “the world's only major economy to have registered positive growth in foreign trade in goods,” Li Kuiwen, spokesperson of the GAC, said, with China’s foreign trade and exports in the first 10 months of the year accounting for a record 12.8% and 14.2% of the global total.

Economy India’s trade with China falls in 2020, deficit at five-year low Ananth Krishnan January 15, 2021 19:28 IST Updated: January 16, 2021 13:31 IST Ananth Krishnan January 15, 2021 19:28 IST Updated: January 16, 2021 13:31 IST The trade deficit, a source of friction between India and China, declined to a five year-low of $45.8 billion, the lowest since 2015.

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File photo shows containers at the Yangshan Deep Water Port in Shanghai. | Photo Credit: Reuters

The trade deficit, a source of friction between India and China, declined to a five year-low of $45.8 billion, the lowest since 2015.

The trade deficit, a source of friction between India and China, declined to a five year-low of $45.8 billion, the lowest since 2015.

India’s exports to China, however, rose to the highest figure on record, for the first time crossing the $20 billion-mark and growing 16% last year to $20.86 billion.

India’s biggest import in 2019 was electrical machinery and equipment, worth $20.17 billion. Other major imports in 2019 were organic chemicals ($8.39 billion) and fertilisers ($1.67 billion), while India’s top exports were iron ore, organic chemicals, cotton and unfinished diamonds. The past 12 months saw a surge in demand for iron ore in China with a slew of new infrastructure projects aimed at reviving growth after the COVID-19 slump.

While India’s imports from China declined, so did India’s imports overall with a slump in domestic demand last year.

Two-way trade in 2020 reached $87.6 billion, down by 5.6%,

India’s trade with China last year fell to the lowest since 2017

Exports to ASEAN countries, China’s largest trading partner last year with $684 billion in annual trade, were up 6.7%, while exports to the EU, China’s second-largest trading partner, were also up 6.7%, with trade reaching $649 billion.

The IMF believes the farm bills passed by the Indian government have the potential to represent a significant step forward for agricultural reforms, but a social safety net is needed to protect those who might be adversely impacted during the transition to the new system, a spokesperson of the global lender said here.

“The measures will enable farmers to directly contract with sellers, allow farmers to retain a greater share of the surplus by reducing the role of middlemen, enhance efficiency and support rural growth,” he said.

Wikipedia, which is operated by non-profit organisation Wikimedia Foundation, already counts India as its fifth largest market. It gets about 750 million page views a month from the Indian audience.

Wikipedia turns 20

KaiOS, which we recognise is one of the more commonly used operating systems across the Indian market,” she said.

The IMF Managing Director during a global media roundtable on January 14 predicted a less bad outlook for India in the upcoming World Economic Update due to the steps taken by it.

The inflation based on Wholesale Price Index (WPI) was 1.55% in November 2020, and 2.76% in December 2019.

The wholesale price-based inflation slowed to 1.22% in December on easing food prices, as per government data released on Thursday.

India’s index of industrial production (IIP) for November was dragged lower by mining and manufacturing, which both shrank, as per quick estimates. Mining output contracted 7.3% in the month, while manufacturing declined 1.7%, indicating an unwinding of inventory build-ups with the quenching of pent-up and festive demand.

The finance ministry has rejected the demand for further extension of the last date for filing returns where audit is required beyond February 15.

“The disconnect between certain segments of financial markets and the real economy has been accentuating in recent times, both globally and in India,” Mr. Das wrote in his foreword to the RBI’s biannual Financial Stability Report (FSR), which was released on Monday.

Bank credit growth (Y-o-Y), which had declined to 5.7% in 2019-20, remains sluggish; on the other hand, deposit growth has remained robust in double digits, reflecting precautionary saving in the face of high uncertainty, the RBI said.

As of August 2020, 89.6% of all loans given by Urban Cooperative Banks to the MSME sector were under moratorium

Even among the MSME companies considered the lowest* risk, the share of missed payments for term loans jumped from 9% in March to 25% in June. In the companies considered the highest risk, the share more than tripled from 11% to 36% between March and June.

More than 30% of UCBs’ total loans went to the MSME sector as of March 2020 - the highest among all bank types.

As of August 2020, 89.6% of all loans given by UCBs to the MSME sector were under moratorium - the highest among all bank types. It is still not known what share of these loan accounts will turn into NPAs (loans overdue >90 days).

Banks' gross non-performing assets may rise to 13.5% by September 2021, from 7.5% in September 2020 under the baseline scenario, according to Financial Stability Report (FSR) released by the Reserve Bank of India.

RBI Financial Stability Report: Banks gross NPA may rise to 13.5% by September 2021

In fact, on January 11, Bitcoin and other coins tanked, wiping off some $170 billion from the market, signalling some market correction and proving that the industry itself is battling obstacles in terms of scaling, efficiency and security.

In 2018, the scene had experienced what experts call a ‘crypto winter’: value was at rock-bottom and there was a lot of speculation around government intervention. Alongside this apprehension, crypto technologists took more than a sleeves-rolled-up commitment to technical development in the infrastructure. This strengthened the foundation, which contributed to crypto’s ‘spring’ in the late-2020 ‘success’ of Bitcoin.

According to Assocham, the most definitive of the data is the record collection of Rs 1.15 lakh crore in the Goods and Services Tax (GST) during December.

The spokesperson further said that the update does not change WhatsApp's data sharing practices with Facebook and does not impact how people communicate privately with friends or family wherever they are in the world.

The Confederation of All India Traders (CAIT) claimed that through the new privacy policy, "all kinds of personal data, payment transactions, contacts, location and other vital information of a person who is using WhatsApp will be acquired by it and can be used for any purpose by WhatsApp".

"WhatsApp remains deeply committed to protecting people's privacy. We are communicating directly with users through WhatsApp about these changes so they have time to review the new policy over the course of the next month," the spokesperson added.

Bitumen, LPG

But, consumption of bitumen, used in road construction, jumped by 20% to 7,61,000 tonnes.

LPG — the only fuel that showed growth even during the lockdown period on the back of the government giving free cooking gas to the poor — was 7.4% higher at 2.53 million tonnes.