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Boost in domestic <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> due to PLI (production linked incentive) schemes and increase in <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> on account of free trade agreements are expected to bridge the country's <keyword id="20201391" type="General" weightage="20" keywordseo="trade-deficit" source="keywords">trade deficit</keyword> further, <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> said on Monday. However, it said that fluctuations in <keyword id="19936629" type="General" weightage="20" keywordseo="commodity-prices" source="keywords">commodity prices</keyword>, especially for critical imports like oil, metals, and agricultural products, can impact India's trade balance and inflation levels. The Survey said that though ongoing geopolitical headwinds impacted India's merchandise exports, lowering international commodity prices ensured a lower trade deficit in FY24 than in FY23. The country's merchandise trade deficit narrowed to USD 240 billion in 2023-24 from USD 265 billion in 2022-23. It added that changes in trade policies by major trading partners or geopolitical developments can affect India's export opportunities and market access. "In the coming years, India's trade deficit is expected to decline further as the <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> is expanded and India creates a globally competitive manufacturing base in several product categories," the Survey said. It added that the recently signed FTAs (free trade agreements) are expected to increase the <keyword id="22374533" type="General" weightage="20" keywordseo="global-market-share" source="keywords">global market share</keyword> of the country's exports. The PLI scheme for sectors like mobile manufacturing, information technology (IT) hardware, pharmaceutical, telecommunications, and food product are helping to increase manufacturing and cut imports. India has implemented <keyword id="20000557" type="General" weightage="20" keywordseo="FTA" source="keywords">FTA</keyword> with Mauritius, Australia and the UAE. It added that a narrowing merchandise trade deficit and rising service exports have improved the CAD (<keyword id="20054874" type="General" weightage="20" keywordseo="current-account-deficit" source="keywords">current account deficit</keyword>), ending with a surplus of 0.6 per cent of GDP in Q4 of FY24. However, the risks to the performance of India's external sector are on the downside due to the persistence of current <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> and policy uncertainty, it said. Some of the challenges listed by the survey includes fall in demand from major trading partners like the US, rise in trade cost, and volatility in commodity prices. Attacks on shipping in the Red Sea and drought in the Panama Canal have resulted in trade flows being re-routed, increasing journey time and costs. India's merchandise trade relies heavily on maritime trade, so disturbances in major shipping routes can impact its economy. "It is critical to explore what these changing paradigms mean for India. Policies need to be a mix that straddles security concerns with economic considerations," the survey said, adding India's push towards manufacturing in complex and niche sectors through schemes such as PLI and Make in India aims to balance these goals. Further, the survey emphasised on the need to focus on improving India's competitiveness in many product areas. For example, it said, India has tremendous potential in becoming a large global exporter in agricultural commodities. Fostering stronger regional trade ties and adding more markets for Indian goods will help mitigate global demand fluctuations. "In an era when global economic growth is likely to be buffeted by geopolitical tensions and protectionism, growing India's exports of goods and services will be a stiffer challenge than before," it cautioned. Commenting on this, Rumki Majumdar, Economist, Deloitte India, said that despite global uncertainties, India's exports are recording positive growth rates. "That shows the resilience of our exports amidst global uncertainties," she said, adding, "by transforming our export basket and focusing on higher margins and value addition across various sectors, India will easily achieve its ambition of USD 2 trillion in exports by 2030-31."

India's trade deficit expected to decline further: Economic Survey

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> requires an investment support of USD 1.4 trillion — an average of USD 28 billion per year — to become a net-zero economy by 2070 and raising <keyword id="20260327" type="General" weightage="20" keywordseo="financial-resources" source="keywords">financial resources</keyword> for adaptation and mitigation action of this scale is an "unprecedented challenge", according to the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Reaching net zero means achieving a balance between greenhouse gas emissions and the amount of these gases removed from the atmosphere by either natural processes, such as photosynthesis, or by other methods of carbon capture and storage. The consolidated report on the state of the economy in the previous year said India's climate action has been largely financed through domestic resources and the flow of international finance has been "very limited". Citing the Reserve Bank of India's (RBI) data, the report said bridging the "substantial funding gap" necessitates allocating 2.5 per cent of India's annual Gross Domestic Product (GDP) to <keyword id="20018880" type="General" weightage="20" keywordseo="green-finance" source="keywords">green finance</keyword>. "Preliminary estimates indicate that the aggregate investment support required by India to achieve its 2070 net-zero target will be USD 1.4 trillion at an average of USD 28 billion per year. Raising financial resources for <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> adaptation and mitigation actions of this scale is an unprecedented challenge," the document read. A 2022 report by the Climate Policy Initiative found that domestic sources accounted for the majority of green finance in India, at 87 per cent and 83 per cent in financial years 2019 and 2020 respectively. While international sources are increasing (from 13 per cent in FY 2019 to 17 per cent in FY 2020), the economic survey said they are still insufficient to meet India's net-zero target. "Mobilising substantial capital from traditional sources presents multifaceted challenges in emerging economies like India. The perceived sovereign risks associated with emerging market and developing economies (EMDEs) and the capital-intensive nature of such projects, coupled with lengthy gestation periods and evolving regulatory frameworks, can create misalignment between investor expectations and project timelines," the government said. The economic survey also noted that the flows of global capital to <keyword id="20200084" type="General" weightage="20" keywordseo="developing-countries" source="keywords">developing countries</keyword> have been impeded by high costs of capital. Despite securing a good rating on its green-bond framework, Indian sovereign <keyword id="20177085" type="General" weightage="20" keywordseo="green-bonds" source="keywords">green bonds</keyword> have hardly received any "greenium" from private investors. It is more a "wall of capital" than a "flood of capital" that is waiting to fund energy transition in EMDEs. It is just not mobile. All of these together have severely hampered the flow of finance for green-transition projects, the survey said. "Greenium" or green premium refers to the savings an issuer of a green bond realises on the associated coupon payment because the bond is green. Financial support to help middle-income and poor countries fight climate change will be at the centre of this year's UN climate conference in Baku, Azerbaijan, where the world will reach the deadline to agree on the New Collective Quantified Goal (NCQG) -- the new amount developed nations must mobilise every year starting 2025 to support climate action in developing countries. But achieving consensus will not be easy, given the disappointing progress made on major conflict points at the mid-year UN climate talks in Bonn, Germany. At the 2009 UN climate conference in Copenhagen, rich nations pledged to provide USD 100 billion annually from 2020 to help developing countries mitigate and adapt to climate change. However, delays in achieving this goal have eroded trust between developed and developing nations and have been a continual source of contention during annual climate negotiations. In May, the Organisation for Economic Cooperation and Development (OECD) claimed that developed countries had met the long-standing USD 100 billion-a-year promise by providing nearly USD 116 billion in <keyword id="20000757" type="General" weightage="20" keywordseo="climate-finance" source="keywords">climate finance</keyword> to developing countries in 2022, with nearly 70 per cent of the money given in the form of loans. However, international non-profit organisation Oxfam last week said climate finance provided by rich countries in 2022 totalled no more than USD 35 billion. Developing nations argue that they cannot be expected to reduce carbon dioxide (CO2) emissions faster if developed countries -- historically responsible for climate change -- do not provide enhanced financial support. Rich countries are now expected to raise more than USD 100 billion, with developing countries, including India, demanding trillions of dollars to tackle climate change.

Raising massive financial resources for net-zero goal unprecedented challenge: Economic Survey

<ul class="summary-list"><li>Hamas carried out a devastating attack on <keyword id="19900599" type="General" weightage="100" keywordseo="israel" source="keywords">Israel</keyword> one year ago, killing about 1,200 people.</li><li>The terror attack has helped push the Middle East to the brink of a wider regional war.</li></ul>On the early morning of October 7, 2023, air raid sirens began blaring in Israel, warning its citizens that an attack was in progress. Hamas, a militant group much of the West has designated a terrorist organization, launched a highly coordinated strike that the Israel Defense Forces would later say killed about 1,200 people. One year after the massacre, the Middle East has only plunged deeper into violence and is on the brink of a broader war. Paths to de-escalation, largely facilitated by the US, have repeatedly failed. And Israel appears to be inching closer to a direct conflict with Iran, a grim prospect that has been avoided for years as the two countries limited their fight to proxies in a shadow war. The results of the yearlong conflict, with origins that date back decades, have been costly for both Israel and the Iranian-led "Axis of Resistance," noted Chuck Freilich, a former deputy national security advisor who served for over 20 years in Israel's security establishment. "Israel has turned the tide and has the Axis of Resistance on the defensive. Hamas has been defeated militarily, though not politically, and remains in political control in Gaza," Freilich told Business Insider, adding that Iran had come to be in a vulnerable position. "Conversely, Israel was in the midst of a multi-front war which may result in significant damage to its homefront and is deeply isolated in the world," he added. <h2>A year of bloodshed</h2>Israel's response to Hamas' attack on October 7 was a massive bombardment campaign and later ground incursion in Gaza, which Palestinian authorities say have left about 42,000 people dead. Amid the early stages of that campaign, the first high-profile <a target="_blank" class="" href="https://apnews.com/article/yemen-navy-warship-missiles-intercepted-2f5fc9c8a3737f762b29d5c53ec08a5b">expansion of the greater conflict blew open in late October,</a> when Yemen's Houthi rebels <a target="_blank" class="" href="https://www.businessinsider.com/israel-iran-idf-houthi-rebels-hijack-ship-red-sea-2023-11">began attacking commercial ships</a> seeking passage through the Suez Canal and the Gulf of Aden. The Houthis, historically backed and armed by Iran, said they were declaring a show of support for Hamas by attacking ships linked to Israel, though they were often found to have used drones, missiles, and raiding parties to harass vessels with no direct relation to it. <div type="image" title="Houthi supporters in Yemen brandish rifles and Yemeni and Palestinian flags in July." height="3840" width="5760" msid="114014767" hostid="261"></div>With the <a target="_blank" class="" href="https://www.businessinsider.com/who-are-houthis-yemen-rebels-attacking-ships-red-sea-2024-1">Houthi attacks</a> threatening to close off a vital international shipping lane, the US and its allies and partners established a heavy military presence in the Red Sea to fend off the rebels. January saw the West's most direct and overt military involvement in the conflict, when the US, UK, and their allies <a target="_blank" class="" href="https://www.businessinsider.com/us-launches-strikes-houthis-following-shipping-attacks-2024-1">barraged Houthi targets</a> with airborne, surface, and subsurface-launched strikes after <a target="_blank" class="" href="https://www.businessinsider.com/us-launches-strikes-houthis-following-shipping-attacks-2024-1">warning the rebels repeatedly</a> to cease their attacks. The campaign has dragged on for almost a year with <a target="_blank" class="" href="https://www.businessinsider.com/why-the-west-cant-stop-houthi-missile-attacks-on-ships-2024-1">no end in sight</a>, and the US has been <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-aircraft-carrier-left-middle-east-ending-show-force-2024-9">rotating multiple aircraft carrier groups</a> into the region while carrying out further strikes on Houthi territory. To the north, Syria became the site of further conflict in April, when Israel launched a <a href="https://www.businessinsider.com/deadly-israeli-strike-syria-could-put-us-forces-crosshairs-iran-2024-4" target="_blank">strike on the Iranian Consulate in Damascus</a>, killing several senior officials of Iran's Islamic Revolutionary Guard Corps, including two generals. Farzin Nadimi, a senior fellow at The Washington Institute for Near East Policy, previously told BI that the strike was significant because it was the "first time Israel struck an official Iranian government-affiliated site with high-ranking people inside." <div type="image" title="Iranian Foreign Minister Hossein Amir-Abdollahian, Syrian Foreign Minister Faisal Mekdad, and other officials check the site of Israeli attack on Iran consulate in Damascus in April," height="2080" width="3040" msid="114014764" hostid="261"></div>Iran followed up with a <a target="_blank" class="" href="https://www.businessinsider.com/us-forces-destroyed-iran-missiles-drones-massive-air-defense-battle-2024-4">long-range attack on Israel at an unprecedented scale</a>, launching what Israeli authorities said were 170 attack drones, 120 ballistic missiles, and 30 cruise missiles — almost all of which were intercepted. Israel then responded with its<a target="_blank" class="" href="https://www.businessinsider.com/explosion-heard-in-iran-according-to-state-media-2024-4"> own strikes on multiple cities in Iran</a>. And in July, <a target="_blank" class="" href="https://www.businessinsider.com/ismail-haniyeh-top-hamas-leader-killed-in-iran-2024-7">Ismail Haniyeh</a>, the political leader of Hamas, was killed just after he attended the swearing-in of Iran's new president. <keyword id="20394829" type="General" weightage="20" keywordseo="haniyeh" source="keywords">Haniyeh</keyword> was widely reported to have been killed by a <a target="_blank" class="" href="https://www.nytimes.com/2024/08/01/world/middleeast/how-hamas-leader-haniyeh-killed-iran-bomb.html?smid=tw-share">remotely detonated explosive device</a> that was planted months before his death in a guesthouse he was using in Tehran. Israel also claimed responsibility that week for <a href="https://www.businessinsider.com/israel-tried-killing-top-hezbollah-commander-beirut-with-us-bounty-2024-7" target="_blank">killing the Hezbollah commander Fuad Shukr</a>, a senior advisor to the Lebanese militant organization's top leader, Hassan <keyword id="20081934" type="General" weightage="20" keywordseo="nasrallah" source="keywords">Nasrallah</keyword>, via an air-launched strike in Beirut. <div type="image" title="A billboard in Beirut. depicts Ismail Haniyeh, Qasem Soleimani, and Fuad Shukr." height="3067" width="4600" msid="114014762" hostid="261"></div>Meanwhile, Hezbollah, a longtime enemy of Israel, has been <a target="_blank" class="" href="https://www.businessinsider.com/hezbollah-lebanon-israeli-positions-gaza-hamas-2023-10">exchanging fire</a> with Israel on its southern border since the October 7 attack, forcing hundreds of thousands of civilians on both sides to flee. In one of the most dramatic attacks the region has yet seen, <a target="_blank" class="" href="https://www.businessinsider.com/iran-backed-hezbollah-members-hurt-after-pagers-just-weirdly-exploded-2024-9">thousands of pagers and communication devices</a> used by Hezbollah detonated in September, injuring more than 2,800 people and killing at least eight. Mossad, Israel's spy agency, is widely believed to have orchestrated the attack by <a target="_blank" class="" href="https://www.businessinsider.com/hezbollah-pagers-had-dark-feature-made-them-more-gruesome-2024-10">planting explosives inside the devices</a> before they were distributed, but Israel has not claimed responsibility. <div type="image" title="This picture shows a fire that emerged after an Israeli bombardment in south Lebanon." height="1588" width="2408" msid="114014770" hostid="261"></div>Later in September, <a href="https://www.businessinsider.com/who-was-hassan-nasrallah-the-hezbollah-leader-killed-by-israel-2024-9" target="_blank">Israel launched a strike</a> that killed Nasrallah at Hezbollah's headquarters in Beirut, bringing an end to his 32-year leadership of the militant group. Then, at the start of this month Israel began what it called a <a href="https://www.businessinsider.com/israel-launches-ground-offensive-into-lebanon-destroy-hezbollah-targets-2024-9" target="_blank">limited ground incursion into Lebanon</a>, saying it sought to dismantle Hezbollah's positions and artillery in the south. Iran moved soon after to launch a second major attack on Israel. Tehran is reported to have fired about 200 missiles, including its <a href="https://www.businessinsider.com/iran-used-one-of-most-advanced-missiles-massive-israel-attack-2024-10" target="_blank">advanced Fattah missile</a> capable of reaching speeds of Mach 5. It's unclear whether Israel might expand its scope in Lebanon, where it faces difficult terrain and Hezbollah troops who have had years to embed and prepare. Lebanon's health ministry has said more than 2,000 people have been killed so far in the ensuing strikes and raids. Tehran is reported to have fired about 200 missiles at Israel on October 2, including its <a target="_blank" class="" href="https://www.businessinsider.com/iran-used-one-of-most-advanced-missiles-massive-israel-attack-2024-10">advanced Fattah missile</a> capable of reaching speeds of Mach-5. <h2>Escalations don't bode well for the Middle East</h2>History shows there's little chance that Israel will let that attack pass without a response, as Israel's Prime Minister Benjamin <keyword id="19934489" type="General" weightage="20" keywordseo="netanyahu" source="keywords">Netanyahu</keyword> indicated in <a target="_blank" class="" href="https://www.youtube.com/watch?v=iUSI5tQuXys">a speech to the United Nations General Assembly</a> on September 27. "If you strike us, we will strike you. There is no place in Iran that the long arm of Israel cannot reach, and that's true of the entire Middle East," he said. Meanwhile, last month saw<a target="_blank" class="" href="https://www.businessinsider.com/israel-fed-up-massive-protest-strike-demanding-gaza-deal-hostages-2024-9"> hundreds of thousands of Israeli protesters</a> rallying against Netanyahu's failure to secure some sort of cease-fire deal that could lead to the release of the hostages remaining in Gaza after the attack one year ago. Gili Roman, whose sister was kidnapped on October 7 and later released and whose relative Carmel Gat was among the six slain hostages recovered by the IDF in early September, told BI last month that Netanyahu and his government were "prioritizing themselves" over the hostages. The anticipation of yet another cycle of escalating retaliation has set the world on edge, amid fears that an all-out war between Iran and Israel will destabilize the entire region. Globally, the immediate concern is that oil supplies will diminish significantly should conflict spill over to the rest of the Middle East. Last week, Citigroup analysts estimated that a major strike on Iranian oil infrastructure could reduce global oil supplies by <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-02/latest-oil-market-news-and-analysis-for-oct-3">1.5 million barrels per day.</a> <h2>Israel ignores US red lines</h2>US President <keyword id="19919748" type="General" weightage="20" keywordseo="joe-biden" source="keywords">Joe Biden</keyword> has for a year been trying to avoid the war growing into a wider regional conflict that could pull in the US and other world powers. He has repeatedly sought to broker a cease-fire in Gaza, organize more humanitarian support for civilians, and limit Israel's campaign. But Netanyahu has repeatedly ignored Biden's red lines and has continued to push forward against Hamas even as the civilian death toll spiraled and international opposition to Israel's campaign mounted. The US has also helped shield Israel against Iranian missile attacks sparked by the April killings and recent attacks on Hezbollah, and has positioned troops in the area to deter further Iranian aggression, while also seeking to tamp down the conflict. Meanwhile, as Israel intensified its attacks against Hezbollah two weeks ago, the US announced that it had brokered a possible cease-fire agreement — only for Israel to assassinate Nasrallah one day later. Critics of US policy believe that Netanyahu is acting in his own self-interest to try to hold together his fragile coalition government, whose far-right members support intensifying the war against Iran and its allies. "Netanyahu doesn't care about his friendship with Biden, or even about Israel's dependence on the United States. He cares only about his near-term political interests. Everyone but Biden can see this," wrote Andrew Exum, a former US deputy assistant secretary of defense for Middle East policy, <a target="_blank" class="" href="https://www.theatlantic.com/international/archive/2024/10/israel-war-biden-iran/680155/">in The Atlantic</a> last week. <h2>The global economy on edge</h2>When the conflict began a year ago, there were fears that wider conflict in the Middle East could impact the global economy. Oil prices did rise in the days after the October 7 attacks and Brent crude peaked above $92 a barrel later that month, but then started declining to about $73 in mid-December. In contrast, oil hit about $130 a barrel after <keyword id="19900702" type="General" weightage="20" keywordseo="vladimir-putin" source="keywords">Vladimir Putin</keyword> invaded Ukraine in February 2022. However, experts recently told Business Insider that a wider war in the region could <a target="_blank" href="https://www.businessinsider.com/global-economy-israel-iran-war-oil-growth-inflation-hurricane-china-2024-10">choke global economic growth and reignite inflation</a>. The Bank of Israel estimated in May that the costs arising from the war would total about $66 billion through the end of next year — equivalent to roughly 12% of Israel's GDP, <a target="_blank" href="https://www.reuters.com/world/middle-east/year-war-creates-cracks-israels-borrowing-strength-2024-10-06/">according to Reuters</a>. And in June, <a target="_blank" href="https://www.imf.org/en/Blogs/Articles/2024/06/05/scars-of-conflict-are-deeper-and-longer-lasting-in-middle-east-and-central-asia">the IMF noted</a> that the long-term economic effects of severe conflict on real GDP per capita in the Middle East were particularly pronounced, compared to other regions. It said that countries in the Middle East can expect to experience a roughly 10% decline in real GDP per capita a decade after the onset of a conflict, compared to pre-conflict levels. Correction: October 7, 2024 — An earlier version of this story misstated when Israel launched its strike that killed Hassan Nasrallah. That attack took place before Israel's ground incursion into Lebanon, not after, and the subsequent Iranian missile strike came soon after the Israeli ground assault, not hours after Nasrallah's killing. The story also misspelled the name of the former deputy national security advisor in Israel. He is Chuck Freilich, not Chuck Frielich.

One year on, the Middle East is spiraling deeper into violence

With the <keyword id="20613906" type="General" weightage="20" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> flagging a rise in <keyword id="19956983" type="General" weightage="100" keywordseo="mental-health" source="keywords">mental health</keyword> issues among <keyword id="19916609" type="General" weightage="20" keywordseo="Indians" source="keywords">Indians</keyword> calling for a <keyword id="20740266" type="General" weightage="20" keywordseo="paradigm-shift" source="keywords">paradigm shift</keyword> on how to address the problem, experts on Monday said it is an unaddressed health crisis in India. They called for increasing accessibility to mental health resources, raising <keyword id="19927137" type="General" weightage="20" keywordseo="awareness" source="keywords">awareness</keyword>, reducing <keyword id="20448786" type="General" weightage="20" keywordseo="stigma" source="keywords">stigma</keyword> and developing robust support systems to tackle the issue while also highlighting the need to find comprehensive solutions to contributing factors such as work pressure and societal expectations, among others. "Mental health problems are an unaddressed health crisis in India. Nearly 20 per cent of people live with mental health problems in India. Depression and anxiety are common causes of disability. There is a treatment gap of more than 80 per cent," Achal Bhagat, Senior Consultant Psychiatrist and Psychotherapist at Indraprastha Apollo Hospital, Delhi, said. The indirect economic cost of loss of livelihoods due to mental health is significantly high as it is not only for the person living with mental health problems but also due to the loss of livelihoods for the caregivers, he added. Expressing similar views, Shambhavi Jaiman, Consultant Psychiatrist at Fortis Memorial Research Institute, Gurugram, said the impact on productivity is substantial, reflecting the broader implications for societal well-being and economic stability. "The contributing factors - work pressure, societal expectations, financial worries, and insufficient support systems - create a complex web of stressors that require comprehensive solutions," she added. Jaiman said addressing mental health issues involves increasing accessibility to mental health resources, raising awareness, reducing stigma and developing robust support systems. "Creating a supportive environment where mental health is prioritised is essential for fostering a healthier, more productive society," she said. Sameer Malhotra, Senior Director and Head Dept of Mental Health and Behavioural Sciences at Max Super Speciality Hospital, Saket, pointed out that factors such as growing consumerism, excessive competition, shrinking social and family support networks, increased pace of life and growing distress, timeline pressures, lesser time for self and family are driving rise in mental health problems globally. "Disturbed mindset influences concentration, productivity at work and economics as well," he added. The Economic Survey 2023-24 flagged a rise in mental health issues among Indians, calling for a paradigm shift towards a bottom-up, whole-of-community approach to address the problem. Although it noted that India is creating positive momentum in policy development by recognising mental health as a fundamental aspect of overall well-being, the survey said, "While most of the policy design is in place, proper implementation can accelerate the improvement on the ground. That said, there remain certain gaps in the existing programmes which need to be addressed to maximise their effectiveness". The fundamental issue of the lack of awareness about mental health and the stigma surrounding it can render any sincerely crafted programme unfeasible, it added. "Hence, there is a need to bring about a paradigm shift and utilise a bottom-up, whole-of-community approach in addressing the topic of mental health. Breaking the stigma starts with taking cognisance of the natural human tendency to accept physical ailments and seeking treatment for the same while being in denial about mental health issues," the survey said. To an extent, the denial is an outcome of fear about social attitudes and social acceptance after one 'comes out' with mental health issues, it said. "For public health officials, tackling mental health requires acknowledging and addressing this fundamental reluctance. Arguably, mental health issues drag down productivity more widely in the ecosystem than individuals' physical health issues. Hence, paying attention to mental health issues in society is both a health and an economic imperative," the document noted.

Mental health problem an unaddressed health crisis in India: experts after Economic Survey findings

<ul><li>Violence has reportedly cost the world a whopping $16.5 trillion in 2020, according to a GPI report.</li><li><keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> ranked 72 in this regard, with a cost of $646 billion.</li><li>Syria, South Sudan and the Central African Republic were the worst affected countries with the highest economic impact.</li><li>South Asia remained the second least peaceful region but recorded the largest increase in peacefulness, largely driven by improvements in ongoing conflicts.</li></ul>If India was anything like Iceland, it wouldn’t have been just the most peaceful country but also virtually debt-free. With the money that the violence has cost us — $646 billion — the country could have funded all its budget expenditures and various welfare programmes with ease. But, India holds a dismal 72nd rank in the <keyword id="167042" type="General" weightage="20" keywordseo="global-peace-index" source="Orion">Global Peace Index</keyword> (GPI). The <keyword id="14212009" type="General" weightage="20" keywordseo="economic-cost-of-violence" source="Orion">economic cost of violence</keyword> is as much as 6% of its <keyword id="35050" type="General" weightage="20" keywordseo="gdp" source="Orion">GDP</keyword>. Farmers protest, lakhimpur case were some of the popular violent acts that took place in 2021. India’s neighbours – Pakistan and China stood at 54th and 138th, respectively. In the last few years, India has been a victim of year-long protests against government policies, curfews, internet shutdowns apart from various big terror events like Mumbai attacks and bombings in almost every major city, naxal activities across multiple states and more. In addition to loss of life and injury, these events also cost the country both directly and indirectly. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Country </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Economic impact of violence (in millions) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Per capita impact </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Economic cost of violence as percentage of GDP </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Economic cost of violence (in millions) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1,170,922 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$841 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$645,843 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pakistan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$148,637 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$700 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$80,303 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1,951,603 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1,376 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$ 1,049,173 </td></tr></tbody></table>Source: <keyword id="509350" type="General" weightage="80" keywordseo="global-peace" source="Orion">Global Peace</keyword> Index report “The economic impact of violence includes the direct and indirect costs of violence as well as an economic multiplier applied to the direct costs. The economic cost of violence includes only the direct and indirect costs. Per capita and percentage of GDP results are calculated using the economic cost of violence,” the report said. Syria, South Sudan and the Central African Republic were the worst affected countries with the highest economic impact. Iceland, Kosovo and Switzerland were the least affected ones with only 2% as their economic cost as percentage of GDP. The average economic impact of the ten most affected countries by violence was equivalent to 34% of world GDP. “The economic value of lost peace reached record levels in 2021. There is a need to reverse this trend, and the GPI has shown that those countries that implement the attitudes, institutions and structures that create and sustain peaceful societies, witness an improved economic outcome,” said Steve Killelea, founder and executive Chairman of IEP. The number of countries experiencing violent internal conflict rose from 29 to 38, but the number of people killed in internal conflicts has fallen since 2017. South Asia remained the second least peaceful region but recorded the largest increase in peacefulness, largely driven by improvements in ongoing conflicts. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/these-are-the-most-peaceful-countries-in-the-world-indias-rank-has-improved-marginally/slidelist/92244821.cms">These are the most peaceful countries in the world; India’s rank has improved</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/spicejet-hiked-its-ticket-prices-indigo-and-others-might-follow-suit/articleshow/92251751.cms">SpiceJet hiked its ticket prices; Indigo and others might follow suit</a>

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