Club of Bombay DISTRICT 3141 THEBulletin of the Rotary Club of BombayGA | For privateTEW circulation only | www.rotaryclubofbombay.orgAY Volume No. 61 Issue No. 42 June 9, 2020

PRESIDENT’S MESSAGE of raindrops falling on your window to umbrellas with long sticks, And, during the worst of the wet pane and birds taking shelter at manual and automatic. weather, hot steaming cups of milky Fellow every conceivable place that they sweet or black masala cutting chai The monsoon weather is Rotarians, can find is enthralling. Looking with crunchy, salty home-made unpredictable. What begins as a at the raindrops on tree leaves is kandaa or other bhajias complete Very Warm mild rain may suddenly turn into soothing and calming. Monsoon the monsoon experience or even Greetings! a heavy downpour. Heavy rains brings with it a feeling of happiness, sitting next to the windows in a sea- through the night mean delayed The great a cool breeze, and nature drenched facing restaurant while it rains and trains and jammed roads, but then Indian in rain. savouring nature’s beauty. ‘Monsoon’ the work culture rises to is also The city becomes spellbinding, with the challenge of the monsoon. If we A drive or overnight known as nature weaving its magic; Marine were to ignore the traffic disruption, trip to Lonavala and ‘Varsha Ritu’, ‘Borsha’, ‘Varsham’, Drive, otherwise serene, is beset by potholes and sewage problems, and ‘Kar’ in different parts of the sound, fury and lashing of the Mumbai is certainly a place worth Khandala are a ritual . The English word monsoon monsoon high tide, the picturesque being in during the monsoon. for many to enjoy the is believed to originate in the Gateway of India through a watery The poor weather department ‘naisarg’ (nature), the Portuguese ‘moncao’, the Arabic haze, in which water droplets and weather man is always at the ‘mawsim’, and the Dutch ‘monson’. appear to travel hither and thither receiving end of anger and ridicule, lush greenery, the in the air, are sights to die for. for usually getting predictions and stunning sight of the hills Monsoon and amchi Mumbai have a forecasts wrong. poetic bond. The turbulent lashing The sight of the arc of the rainbow under a thick blanket of (‘indra dhanush’) in seven colours sea, black clouds and dark overcast In the good old days, (‘sat rangi’) of red, orange, yellow, cloud. skies herald its arrival. a drive to Khopoli just to enjoy green, blue/cyan, /blue and Ramakant’s then-famous batata This is one season that many of us violet in the sky are nature’s gifts for wadas was a must. Mumbaikars, as residents of this all to marvel at and enjoy. coastal city, eagerly await after Music, too, can’t be far behind. Young lovers walking on the beach the scorching heat of the summer Classical Hindustani music: Ragas under a single umbrella and months. The scent of the first Megh and Malhar infused together children getting mucky playing showers of rain on the parched to give Raga Megh Malhar. The football in the muddy Azad Maidan sunburnt earth is always special ever-popular folklore of that great are common sights. and unique. It makes one shut one’s Indian Classical maestro and one of eyes and breathe in that hypnotic The first shower brings yet another the ‘navratnas’ in Mughal Emperor and fresh earthy scent. expected change to Mumbai. Akbar’s court, Mian Tansen, having performed the intense Raga Deepak What is it about the monsoons Markets, as well as roadside stalls, (Poorvi Thaat), suffering incurable that has this mesmerising effect on get flooded with a sea of umbrellas heat and physical agony, roaming people? Watching the pitter-patter of different colours, sizes and types from pocket and folding umbrellas India, until he reached Vadnagar JUNE 9, 2020 THE BULLETIN OF THE ROTARY CLUB OF BOMBAY 03 there is arsenic poison in textile factories that trucks quarantined. But those who economy. It is a very strange Ajit Ranade, some of the mangoes coming could not reach to because of do require hospitalization situation that on March Group from the Konkan region, the shutdown and we could will remain there for seven 23rd, when the lockdown Executive the demand for them will not get raw materials. So we to eight days. Say we have was announced, all of India President immediately go down because had demand shock when 10,000 hospitals in Mumbai. had 190 or 191 cases and and Chief of the scare, panic or caution. the demand collapsed and a This means that at any point the fatality rate was two per Economist, A demand shock is when supply shock when the supply of the pandemic, we should cent. Two months later, the demand collapses. Presently, collapsed. not have more than 8000 or country has two lakh cases Aditya Birla the demand for airlines, 9000 people in the hospitals. and the fatality rate is up to Group casts hospitality, and tourism are Then we had a financial shock That is the complete strategy 3 and a half per cent. The an eye on the down. when the stock market went – that is what you are trying daily count of fresh new way ahead down in March but thankfully, to do. cases of Covid is up to 8000 for the Indian since the last week of March, a day. And this is the time that has gone up by 30 per In doing so, economy we are going to open up. You cent. So we are now in a the section may argue that we closed situation where that is the economy prematurely. we worst This is an imported disease in Gujarat to be pacified by the affected which is supposed to have rendition of Raga Megh Malhar by is the small two sisters – Tana and Riri, related originated outside India. So ROOTING FOR INCLUSIVE GROWTH and medium it came to India only through to the Poet Saint Narsinh Mehta or entrepreneurs Narsi Bhagat said to be a Adi Kavi. Our objective has And unless we do something international travellers. to reverse it, the ratio will get and the daily Initially, in March, you could The lush, green, and alive monsoon always been to have more skewed. wage earners. have focused on a detailed is a sight and this beautiful form of If you have nature has been used extensively inclusive growth. scrutiny of international in Indian cinema, particularly the But before inclusive growth In my a reasonable travellers and kept the rest ever-popular Bollywood cinema, for you need to have economic article, company, you of the country open. Imagine depicting passion, romance, drama, growth, the expansion of I have can afford to not have a if you are in Mizoram or intensity, and poetry. Expressing opportunity, the expansion of argued sales revenue for maybe a Arunachal Pradesh or Indian cinema’s larger-than-life income, revenues and profits. that the month or two. You do cost- Uttarakhand or Chhattisgarh aspect, rain is one of the most loved So, I am especially happy that widening cutting, cash conservation or Kerala – why should your props of storytelling in Bollywood. so many of you are doing so inequalities and maybe you defer And some of the popular songs economy be shut down? Of well in business because if will ultimately paying salaries. But people (good or masala types) are – ‘Barso are trying to come out of this course this is all in hindsight that does not happen then hurt economic who depend on their daily Re Barso Re’ (Tansen in 1943 – K triple whammy. – we cannot go back but the L Saigal); ‘Pyaar hua iqraar hua‘ other things do not happen – growth. If you income have nothing to fall issue is that the economy is (Shree 420); ‘Ek ladki bheegi bhaagi such as inclusive growth. want the Indian economy The economy was a little back on. Up to 40 per cent of about to reopen. si’ (Chalti Ka Naam Gaadi); ‘O to grow at eight to nine per wobbly even before the the workforce in Mumbai are Sajna Barkha Bahar Aayi’ (Parakh); In my column for The cent to reach a US$ 5 trillion pandemic. Last year, just Going ahead, no one has ‘Zindagi Bhar Nahi Bhoolegi’ (Wo Mint, I wrote a column on economy, you need to take before March, many sectors been spared. Globally, Barsat Ki Raat); ‘Roop Tera Mastana’ the concepts of economic care of the of the economy were there are six million (Aradhana); ‘Lakhon Ka Sawan Jaye’ inequality and economic (Roti, Kapda Aur Makan); ‘Megha basic problem slowing down. This time, cases and nearly one- growth. One of your Re Megha Re’ (Pyaasa Sawan); ‘Aaj of inequality. the slowdown is because third of these are in just missions as Rotarians is to rapat jaayen’ (Namak Halal); ‘Lagi of a virus and there will be one country: America, do well and do good. Our Back to the Aaj Saawan’ (Chandni), ‘Rim Jhim no cure until a vaccine is the richest, biggest and Run Jhum’ (1942 A Love Story); societies, whether here or pandemic developed. Plus, the infection most powerful country ‘Ghanan ghanan’ (Lagaan), ‘Barso internationally, are being and what Next is supply shock. spreads fast. This means is now the epicenter of re’ (Guru); ‘Give Me Some Sunshine, increasingly exposed to the we have Suppose there is an that there is a lot of pressure this endemic. The death Give Me Some Rain’ (3 Idiots). phenomenon of widening is a triple earthquake and a chemical on the healthcare system. toll has crossed one lakh. Whatever be our feelings toward disparity and widening combination: factory is destroyed. The There are not enough beds These are more deaths it, we cannot deny nor ignore the inequality whether in income, a demand production of chemicals and quarantine facilities than in the entire Vietnam magic of monsoon in Mumbai, even wealth, opportunity or access shock, a stops until the factory is in Mumbai or any of the war. But until a vaccine when the magic gets a little dark at to public services, access to supply times. rebuilt – that is a supply other cities. The strategy is such people. And they have is formulated, it is going to quality education and health. shock and shock. We have had the that we are trying to flatten little to no savings to fall be difficult. The only way Some hate it. Some love it. I love it! Whichever dimension you a financial supply shock as well when the curve that is increasing back on. out is to keep the infection mention, these inequalities shock. the government announced so that the growth rate of manageable, to adhere to are widening and some Demand shock means, for Now, there is also a lot of a strict lockdown. Our infection is manageable. As social distancing, to observe of them are inevitable example, that if the green pressure from businesses factories could not function. the fatality is small, many hygiene and sanitation consequences of the way vegetables selling in Mumbai and small and medium Our group, for example, has people will not even need protocols, to do temperature economic growth happens. are affected by e-coli or entrepreneurs to reopen the President Preeti Mehta several cement, metal and to be hospitalized – just monitoring and to do We are active on social media with over 9000 followers. Find us on facebook, twitter and instagram with the handle @rcb1929. Find us on Service Above Self linkedin and youtube with the handle rotary club of bombay. Please follow us and like/share the posts.

JUNE 9, 2020 THE BULLETIN OF THE ROTARY CLUB OF BOMBAY 04 THE BULLETIN OF THE ROTARY CLUB OF BOMBAY 05 tax, so if you are a company and because Government of India. He is saying that insolvency authorities because I am sure you are doing a lot of reinvestment and banks will give you loans, but banks are they would not have thought it a good a lot of depreciation, if you have zero so reluctant nowadays. idea to suspend the law for a year. profit even then you are able to pay tax to the Government of India it is called If an MSME is dying and Nirmala Sitaraman in one candid MAT. Over the years, the accumulated does not have anything to interview, did not rule out the MAT has become Rs 75 thousand crore. eat, an MSME which is close possibility of monetization. Maybe So, let us allow the companies to encash to bankruptcy, will it go to the government wants to do it in the their MAT credit. next stage? New Rotarian member Swati Jajodia New Rotarian member Riddhi Javeri New Rotarian member Rishi Dalal New Rotarian member Yogesh the bank for a fresh loan? with Rtn. Ptn. Vishal with Rtn. Ptn. Sahil with Rtn. Ptn. Rachita Mahansaria with Rtn. Ptn. Swati Lastly, the central government should Unfortunately, we have delayed it too Yes, that’s why I said that we need to be immediately release all that is due to much but I am hopeful because no optimistic because the finance minister extensive testing that’s the only way. spot is the rabi crop which had a good so what do the SMEs do? That is why state governments. GST compensation case is too late according to me. And herself said that I season last year and if we have a normal the government should intervene; our is due to state governments. All the some MSMEs were going to die anyway. am not done with it. Countries have poured a lot of fiscal monsoon, we will see a very good growth country has 63 million SMEs which This pandemic is going to change some She did a series of support. In America, every adult Covid-19 action at the state and in agriculture. Agriculture constitutes 16 employ 10-12 crore employees. And, as municipality level means the state consumer behaviour. Some firms have to five press briefings citizen, except the very rich, except per cent of India’s GDP which means that I told you, we need universal injection accept their fate and move on. and then gave a tiny fraction of one per cent, every governments are struggling for money. 84 per cent comes from outside it. But it of say about Rs 10,000 each across Central government is the sovereign American has gotten a US$ 1200-1500 Suspending is a silver lining nevertheless. households, urban poor, that will be authority which has the right to print cheque every month. Many of the the insolvency somewhat 80 crore or 70 crore people. notes, the state government doesn’t have small businesses have got support. India used to have the unfortunate code is not So, if our national income is Rs 200 lakh that luxury. So, the last measure would Other countries like Germany and the distinction of having nine out of the 10 a good idea. crore, Rs 2 lakh crores that is one per be that the state government get all the UK have reimbursed small companies most polluted cities in the world but You can put it cent of the GDP. If we don’t do a strong pending GST compensation. for salary payment so that they don’t the sky is now very blue, the air quality fiscal push at times like these, then when on hold. The whole insolvency code was interviews to also retrench workers. Different countries index in Delhi which used to be at 440, will we do it? If that happens, next year, Taking forward your MSMEs point, a fantastic reform because it was putting newspapers saying have adopted different things – and this came all the way to 45. I am told that at I think we should come back seeing do you think it is too late because discipline. The insolvency code success is that she is not done, is called a fiscal stimulus which comes places like Haridwar and Rishikesh, the economic growth. today’s Economic Times says that not how many cases come to their court more is expected so from the government’s tax kitty. water of the Ganga is not only clean but one third of MSMEs are shutting and, – the NCLT – the success is how many you are right maybe it is also potable now. I don’t know how ROTARIANS ASK cases don’t even come there. The success In India, what Prime secondly, their decision to suspend they will do some much of this is related to the pandemic the insolvency and bankruptcy code is hidden. A lot of large companies are fiscal stimulus from Minister Modi announced, but it is a silver lining. If you had a freehand what measures very careful to make sure that they pay would you take to help the economy for one year – do you think it is rather the treasury. I am much of it is in the form of harmful to the economy? the pending bills. We have a big crisis hopeful about that. Unfortunately, because of the impact get on track? of pending payments so they should loans. He announced Rs 20 of April, May and June, the economy lakh crore but except for Rs I would clear all dues to Unfortunately, my answer to both of have not completely let them off the is going to suffer. Our GDP may only your questions is yes. But I am a very hook. I am going to be in touch with the 2 lakh crore, everything is be zero but negative. But our national the SMEs. The government optimistic person. So, if you ask me in the form of fresh loans income is Rs 200 lakh crore. So next year owes Rs five lakh crore whether it’s too late, yes, it is. The USA, from banks and RBI. But we the income, even if we grow at zero to them, so I’d focus on a Republican government, announced need cash injection as well because we per cent, will be Rs 200 lakh crore but a fiscal stimulus of US$ 2.2 trillion it will probably grow at -5 per cent so paying off the pending need people to run for the next one or payments. which is practically the size of Indian two months especially the families who it will be Rs 190 lakh crore which is the economy. Whereas, we took a long have lost livelihoods. In the next four to big number by the way. We will be still Second, I would give all the income tax time, a two-month gap, after which PM six months, each family should be given producing three million cars, maybe 300 refunds right away, I would not wait till Modi announced Rs 20 lakh crore which Rs 8,000 to 10,000 income monthly for billion tonnes of cement, we still will be September and if the income tax wants turned out to be only bank funds. It is their monthly expenditure. producing 100 million tonnes of steel. to save some cash, they can give it in the not a special fiscal stimulus; nothing So we need not dismay, what we should form of refund certificates. An income is coming out of the treasury of the In this pandemic, we have discovered look at is the next year the GDP will go tax refund certificate can be used to pay that India spends not even 1.5 per cent up by 5%. your advance taxes or your other dues. of its GDP on public health which is way below the world average, not even half In the meantime, we need A lot of people have input tax credits in or one third of what China spends. We the strong support of the GST, I would say that should be given will also see a lot of growth in the digital government and a dose of instantly. sectors. Thanks to telecom and wi-fi, fiscal stimulus which will telecom companies are going to do well. I would also allow minimum alternate The sectors which will unfortunately not help small and medium do well for some time are: airline travel, entrepreneurs. What happens public places like malls, hospitality, whenever there is a downturn is that 5 star hotels and IPL. The one bright the customer starts delaying payments, the government itself delays payment, ROTARY CLUB OF BOMBAY 2019-2020 TRUSTEES 2019-2020 PP Rtn. (Dr.) Rahim Muljiani PP Rtn. Arvind Jolly JUNE 9, 2020 PP Rtn. (Dr.) Adi Dastur PP Rtn. Arun Sanghi OFFICE BEARERS 2019-2020 President Rtn. Preeti Mehta RCB AID FOR AY & BY NEXT WEEK: HON. RTN. Immediate Past President Rtn. Vijay Kumar Jatia President-Elect Rtn. Framroze Mehta Ajay Piramal is the chairman of President-Nominee Rtn. Shernaz Vakil the , a Honorary Secretary Rtn. Manish Reshamwala with interests in pharmaceutical, Hon. Jt. Secretary Rtn. Satyan Israni financial services, real estate, Hon. Treasurer Rtn. Jagdish Malkani healthcare analytics and glass packaging. SPECIAL DIRECTOR PP RTN. SHAILESH HARIBHAKTI DIRECTOR-IN-CHARGE PE RTN. FRAMROZE MEHTA Classifications, Membership & Apart from India, the Piramal Group PP Rtn. Nowroze Vazifdar has presence in over 30 countries, Information including the US, the UK, the Fellowship & Assimilation Rtn. Ashok Jatia European Union, Japan, Asia-Pacific Animal Welfare Rtn. Priyasri Patodia and South Asia, with its products DIRECTOR-IN-CHARGE RTN. MEHUL SAMPAT being sold in over 100 markets. Social media, Website & Bulletin Rtn. Rhea Bhumgara Sergeant-at-Arms Rtn. Hoshang Nazir The market capitalisation of Piramal ANANDA YAAN Enterprises has grown four-fold Interact Rtn. Jaymin Jhaveri Life has been getting stressful for our Ananda in the last seven years, from an management lessons inspired from Rotaract Rtn. Zeenia Master Yaan seniors at the Byculla centre. The essentials average of around Rs 10,000 crore in The Bhagwad Gita, published by the DIRECTOR-IN-CHARGE RTN. RAM GANDHI provided by the ration shops were not enough 2010–11, it has been moving around Times Group. He has also written Programme Rtn. Farhat Jamal for the full family. We, at Dignity Foundation Rs 45,000 crore in April 2018. a dance opera, ‘The Dance of Life’, Public Awards Rtn. Suresh Kotak which premiered in Mumbai in and Rotary Club of Bombay, swung into action Young At Heart Rtn. Ramesh Mehta In his spare time, Piramal pursues 2004, with stories inspired by the and arranged for 100 ration kits, each having 12 DIRECTOR-IN-CHARGE RTN. PETER BORN essential items of good quality for the full family. his passion for wildlife photography. history of Indian science starring We are most thankful to JSW Foundation for He has also co-authored ‘Light Mrinalini Sarabhai and Mallika Water Resources & Sanitation Rtn. Abhinav Aggarwal providing 200 hand sanitizers for both the Byculla has come to me’, a book about Sarabhai. Urban Heritage Rtn. Natasha Treasurywala and Dr. E. Moses Road centres. Environment Rtn. Madhusudan Daga DIRECTOR-IN-CHARGE RTN. HIRANMAY BISWAS Our PP Rtn. (Dr.) Batra provided preventive VENUE: ONLINE AT ZOOM.US (MEMBERS ONLY) Sports Rtn. Sanjiv Saran Mehra homeopathic medicine as suggested by the Yoga Rtn. Manoj Patodia AYUSH ministry. We are most grateful to him for TIME: 12 NOON Vocational Training Rtn. Varsha Daiya taking care of all 200 seniors at both our centres. Night Study Centre Rtn. Jamshyd Vazifdar The distribution was done on May 31st. The ROTARIAN BIRTHDAYS entire community was grateful for the support. DIRECTOR-IN-CHARGE RTN. PRADEEP GUPTA Attendance Rtn. Bipin Kapadia In-Camera Rtn. Zinia Lawyer DIRECTOR-IN-CHARGE RTN. (DR.) ASHOK KIRPALANI Talwada Projects PP Rtn. (Dr.) Rahim Muljiani JUNE 10 JUNE 12 JUNE 13 JUNE 14 Phiroze R. Vakil Eye Centre (PRVEC) Rtn. Homi Katgara Hon. Rtn. Rahul Rtn. S V PP Rtn. Gul Hon. Rtn. Kumarmangalam Ajit Deshpande Medical Centre Bajaj Prasad Kripalani Birla Rtn. Tara Deshpande (ADMC) ROTARIAN ANNIVERSARIES PARTNER JUNE 9 Cancer Aid Rtn. (Dr.) Ian Pinto BIRTHDAYS Rtn. Ptn. Vaidehi & RCB – Medical Centre Rtn. Manoj Patodia JUNE 10 Rohit Dhoot Rtn. Ptn. Noshir JUNE 12 DIRECTOR-IN-CHARGE RTN. VINEET BHATNAGAR Desai Rtn. Ptn. Mayuri & Fund-Raising Rtn. Pradeep Chinai JUNE 14 JUNE 15 Rtn. Ptn. Sandhya Alok Sekhsaria The Rotary Foundation & Rtn. Jaymin Hon. Rtn. Lakshmi Mittersain JUNE 15 PP Rtn. Pradeep Saxena Global Grant Jhaveri mittal JUNE 11 Rtn. Ptn. Usha & BHAVISHYA YAAN Rtn. Ptn. Gulrez Suresh Agarwal Gender Equality Rtn. Arin Master We are thankful to PP Rtn. (Dr.) Batra for Contractor Rtn. Ptn. Kashmira & JUNE 12 Dilip Dalal Skill Development Rtn. S. V. Prasad providing the anti-coronavirus dosage suggested Rtn. Ptn. Firoze DIRECTOR-IN-CHARGE RTN. MEERA ALREJA by the AYUSH Ministry for our Bhavishya Yaan Vakil children of G K Marg and their families. These 90 Literacy / Bhavishya Yaan Rtn. Jamshed Vakharia Child Welfare Rtn. Rajesh Shah bottles were distributed with the help of Principal Printed and Published by President Preeti Mehta for Rotary Club of Bombay, and the hall-in-charge Mr. Bappa. [email protected]; Editorial Content, Design & Layout by The Narrators, Anand Yaan / Elder Care Rtn. Alok Sekhsaria [email protected]; Printed at Indigo Press, [email protected] Scholarships Rtn. Roda Billimoria Regd No. MCS/091/2015-17; R.N.I NO. 14015/60. WP P License No. MR/TECH/WPP-89/South 2015