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Here is the typical process for projects that I handle. These are for new home and home addition projects.FlirtationsA prospective client gets my name through a referral, usually someone with whom I completed a project previously. They could also get my name from my website or from articles that I have written. They call to go over what they envision for the project and to inquire if my schedule works for them or if I could give them a better idea of their options. Most people interview other architects so I must keep them interested in my abilities once they contact me. If the conversation goes well, the client may agree to meet in person within the following few weeks, usually at their residence.First DateOn the first potential client meeting, they will show me the house, or a vacant lot if it’s a new house, and present their ideas and goals of the proposed project. I will go over my observations and recommendations based on their ideas and further provide more information about the process that is required to bring their project to fruition. This meeting reveals which rooms they wish to build, what type of architecture they prefer, what kind of budget they have, and how quickly they would like to proceed. It usually ends with the client explaining they will get back to me after they have considered their options. Occasionally, they request that I draft a contract as soon as possible.SwooningOnce I am familiar with the project, and I believe that it is likely to go ahead, I gather essential data on the property. In the case of a home addition research includes determining the age of the property, the size of the lot, if easements exist, and investigating the approval process required in the jurisdiction for additions. New houses are similar, but there are no concerns of an existing structure. Next is a waiting game.A few potential clients never follow up; however, most contact me again within a few days to within a few months. If they wish to move forward, I write my contract and send it to them for their review and request that they get back to me if they have any questions. There may be an email or phone exchange until they are clear on what my contract involves.Wedding DayThis stage is usually the most exciting part of the process. Once they agree to hire me, I set up a time to meet with them again, then have them sign the contract for my services and I collect their first payment. I will also measure the existing property or, in the case of a new house, start the process of hiring consultants for the plot of land that they own, such as obtaining topographic maps or having the property surveyed. I let the new client know that it is never too early to start making decisions about all of the finishes and selections they must make in the process. I brief clients on the process and explain what it takes to secure a building permit for their project. Most projects take from 6 months to 2 years to obtain the building permit.HoneymoonOnce I have investigated the requirements to build in the respective location and established the client’s program, I can begin to work on the design. If it’s an addition I must create the existing plans of the house first. I currently model everything in 3D so that comes first for additions. If it’s a new house, I begin sketching ideas and concepts on paper, usually trace. This process can take anywhere from a few days to several weeks depending on the complexity of the project. This step is professionally labeled “Programming” where every event is new and intriguing.NestingThe next step is to present the schemes and layouts to the client to determine if the ideas I have developed are meeting their mark. This step may begin with just concepts in bubble diagrams or a potential floor plan. I often am able to handle this part of the process over emails with attached sketches and a set of questions. Questions and observations from the client follow and I then proceed to update the scheme based on these exchanges. The time for this part of the process tends to vary greatly. Some people have plenty of time to play around with ideas and may even request additional concepts and schematics, while others are quickly definitive and want to move to the next step as soon as possible. This process is professionally referred to as “Schematic Development”.BondingThe next process involves further development of the schematics and plans into a fully developed building that illustrates the layout of the floor plan, the configuration of the roof and how the project connects to the existing structure for additions or how it connects to the site for new houses. I will complete a 3D model that is able to illustrate, in 2D as well, the floor plan, elevations, and cross-cut sections of the house. There is usually an exchange of ideas and adjustments to the design between the architect and client before they finally agree on a specific design. The plans are then fully developed, called “Design Development” in the profession, and lay out into a set of drawings that the depict the building.RealityNow that their is a completed design, the really difficult parts of the process begin. Some projects go through a lengthy and complicated approval process through the local Planning Department. The purpose is for the city to review the proposed design insuring that it complies with their zoning ordinances, and in some cases hold public hearings so that neighbors can comment on the proposed project. This is not always required, but is more common in congested locations or in environmentally sensitive locations. California has an overlapping entity to the Planning Department called the Coastal Commission. It’s a similar process and may even be combined with the Planning Department review, but it outlines a stringent review of the environmental impact that a project located near the ocean, even houses in some cases, must consider. These processes can take many months or even years to complete. Architects must understand the process and attend meetings and hearings and be able to handle concerns, questions, and solutions to issues raised during these events. Modification of a design is often required to pass through to approval, so that you may have to return to the drawing board, quite literally, before you can proceed to the next step.PregnancyIt’s time to call in the consultants like structural engineers and energy analysts once you pass your approval through the Planning Department. The plans at this stage are developed well enough that the structural components must begin to be assembled into their own set of documents that augments the architect’s drawings. In California, there is an additional required process that reviews the energy consumption of the house. Mechanical systems, insulation, window types and their sizes and materials are all considered to determine how much energy a house or other building will consume. The energy code is updated every few years to become more strict and the ultimate goal is to have a house produce as much energy as it consumes, termed “Zero-net Energy or Net-zero Energy”. This sounds more difficult than it is because advancements in insulation technology and solar energy production have become better over the past few years. Other consultants could be landscape architects and interior designers who are usually hired for very high-end projects. It is an architect’s responsibility to coordinate consultants so that everything is covered in the final set of construction documents.Additionally, this is the part of the process where finishes and fixtures begin to be considered and selected through specifications. Finishes and fixtures are the most variable of all of the component expenses in a building. You must have a floor joist of a certain size and strength in any given floor system, but a bathtub can cost anywhere from $100 to $10,000 plus! Most houses are not designed by licensed architects and comply with a basic standard of finish detail that is practically just a brown paper bag. Decoration is added later. This is why when you visit a developer’s new home community they will have models that seem incredibly luxurious but the house that they deliver to you is rather dull without much detail or higher finish quality, unless you pay for many upgrades or hire your own interior decorator.This whole phase is professionally referred to as CONDOCS or Construction Documents.BirthWhen you reach the assemblage of a complete set of construction documents, it’s time to submit the drawings to the Building Department for their plan check and to also start dispersing copies of the plans to general contractors so that they can begin the process of providing a bid for them to build the project. This requires the architect to respond to the plan check from the building department with any issues they observe in the plans as well as answering questions from construction contractors that need help understanding the plans and the design intent of the project. This is the “Bidding Phase”. Also note that throughout the above sequence of events an architect must be mindful of construction costs and a client’s budget. It can be quite difficult to control costs for many reasons so owners need to consider a range that they can afford as opposed to a specific number. This is the nature of this beast.NurturingThe owner must make the decision on which contractor to hire based on their bids and qualifications and instruct the architect to award the project to the chosen. There can be some negotiation between the three parties involved so this can sometimes turn into a critical point in the process before making the decision to move forward with construction. Architects traditionally act as a supporter of the owner but new forms of businesses such as design/build extinguish that relationship, which is a controversy within the profession. In the traditional relationship, architects also oversee the construction to insure that the contractors are building with the design intent illustrated and expressed in the construction documents and specifications. This is professionally termed “Construction Administration”. Final steps include a “punch list” written by the architect for the general contractor, which calls out any incomplete or damaged parts that must be addressed before owner occupancy. Before an owner may move into the building they must receive the final approval from the building inspector through the local building department.As mentioned, this process will take several months or even several years depending on the scale and complexity of the building. Architects commonly handle several overlapping projects at an given time and must allocate resources and / or staff to accommodate the workload encountered.CelebrationAt last, when a client moves and settles down into their new abode, it’s time to celebrate and have professional photographs record the project. This is important because architects depend on images of their work to attract more work in addition to collecting positive reviews from satisfied clients. Architects have to coordinate this with cooperating clients. Some are very private and do not wish for their homes to become public fodder. An agreement made early in the process is advisable.RetirementThe architect then closes and seals their files on that project and moves onto the next one.

Before beginning with the terminologies, it is important to know that how does the stock market work? Who decides the price of stocks? What is the logic behind the valuation of stocks? I have written an answer in detail and hereby providing the link-Vishal Jain's answer to How does the stock market work? Who decides the price of stocks? What is the logic behind the valuation of stocks?1. Market Indices- A stock index or stock market index is a measurement of a section of the stock market. It is computed from the prices of selected stocks (typically a weighted average). It is a tool used by investors and financial managers to describe the market, and to compare the return on specific investments. Most of the trading in the Indian stock market takes place on its two stock exchanges: the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).• Sensex : Sensex was introduced by Bombay Stock Exchange i.e. BSE on 1st January 1986. It comprises of 30 stocks that are also known by name of BSE 30. Sensex measures the performance and sentiments of different sectors of the economy.• Nifty : The term Nifty originated from two words i.e. National and Fifty. Nifty is an index that is part of NSE. Nifty consists of 50 heavyweight stocks from 12 different sectors. Furthermore, the valuation of nifty is determined based on the performance of these 50 stocks.2. To invest in the Indian stock market, an investor should have 3 accounts:• Saving Bank Account• Demat Account• Trading AccountThe demat account is used to hold securities (such as shares, bonds and debentures, mutual fund units) in electronic form. The trading account is used to buy and sell securities. These securities are credited or debited to the linked demat account. The payment or receipt of funds for all transactions is done through the bank account linked with the trading account. A savings account is a deposit account in a bank where you receive a nominal interest on your deposited money and it also ensures a minimum safety. These three accounts combined together are widely known as the 3-in-1 account. Anyone who’s willing to buy or sell shares in the stock market got to have a demat and a trading account.3. Face Value, Market Value and Book Value of Shares- Face value of shares is the value at which the share is actually listed on the stock market. Face value is also called par value and can be found in the share certificate.Market value is the value at which the share is traded on the listed stock exchange. It represents the company’s worth. It can be calculated using the following formula –Market value per share = total value of the company in the market / total number of shares issued by the companyBook value, in literal terms, means the value of the share in the company’s books. It depicts the amount per share the shareholders can get if the company is liquidated and its assets are sold off to pay the liabilities. Thus, book value is calculated using the following two formulas:Book value per share = total assets – total liabilities / total number of shares issued by the companyHowever, book value and market value help in the determination of market sentiments for the company. Here’s how –If the market value is lower than the book value it means that investors don’t believe in the profitability of the company. Though the company has enough profit margins, investors are either unaware of the same or they believe that the company has no future scope of earnings.If, on the other hand, the market value is higher than the book value it shows that the market values the company’s potential to generate good profits.Eg. Face Value of Infosys is Rs.5Market Value of Infosys is Rs. 748.20Book Value of Infosys is Rs. 153.674. Trading -Buying and Selling of stocks within a shorter time frame like one day to a few weeks.Types of Trading• Intraday Trading(Day Trading): Close trade in same day before market closes• Short Term Trading( Swing Trading):Hold trade for more than 1 day – 10days• Positional Trading: Hold trade for more then 1-2 months• MIS order is intraday order which means buy today and sell today onlyOr sell today and buy today only. It means that you took the position today and you have to square it off today before 3:30pm only.• CNC means positional i.e. you can buy today and sell tomorrow or at a later date or you can sell today and you can buy it tomorrow. The limitation is that you can't short sell in cash that means you can't carry your short positions like you carry your long positions. If you want to carry your short positions then you have to short it in futures.5. Volume- The number of shares or contracts traded in a security or an entire market during a given period of time.6. Market Depth- Market depth displays information about the prices at which traders are willing to buy and sell a particular trading symbol at a single point in time. It shows data like, volumes, 5 Best Buyers and Sellers, Circuit limits, etc.7. Trend - Trend is the general direction of a market or of the price of a security.8. Bullish/ Bearish – If investors expect upward price movement in the stock market, the sentiment is said to be bullish. On the contrary, if the market sentiment is bearish, most investors expect downward price movement.The term "bull" or "bullish" comes from the bull, who strikes upward with his horns, thus pushing prices higher. Bullish, bull, and long are used interchangeably. For example, instead of saying "I am long on that stock," a trader may say, "I am bullish on that stock." Both statements indicate this person believes prices will rise. The term "bear" or "bearish" comes from the bear, who strikes downward with its paws, thus pushing prices down.9. Trade Settlement- Whenever you buy and sell the share, settlement takes place by T+2 working days wherein T stands for trading day followed by 2 working days. The Stock Exchange in India follows a ‘T+2’ rolling settlement cycle. Every working day after the trade date is signified as T+1, T+2 and so on (weekends and stock exchange holidays not included). The trades in India settle on T+2 day.The transfer of shares includes three processes.i) Execution- Execution is when the order to buy/sell is completed by the buyer and the seller. An execution is said to be completed only when it is filled. This is after the trader places an order and based on the instructions of the order the broker fulfills the requirements of the order in the stock market. Only then the order is said to be filled.ii) Clearance- After the trade is executed the clearing process begins. In clearing process, it is identified how much money is owed to the seller and how many shares are owed to the buyer. Apart from identification trade recording, confirmation, determination of the obligation of different parties and risk assessment also take place. This process is managed by a third party known as a Clearing House. Clearing Activities take place on T+1 day.iii)Settlement- The stage involves the actual exchange of shares and money. Here the shares are moved to the buyer’s DEMAT Account and the money is transferred to the sellers trading account. These activities take place on T+2 days.10. Pre and Post market sessions- You can even place the order is the pre opening session starting from 09.00 HRS – 09.08 HRS. This is the bidding session wherein you can place the order and once the normal market is opened all your orders are pushed in exchange as per fifo basis. As per Exchange regulations, only market orders can be entered in the EquityPost Closing Session i.e. 15.40 HRS – 16.00 HRS after the market closes. Limit orders in case placed, will be converted to market orders.11. Last Traded Price (LTP) and Closing Price- LTP is the price of the last trade that has been done in a counter for the day. Throughout the day, a stock's price is always fluctuating. So, LTP is the price at which the most recent trade occurred.Closing Price is the trading price of a security at the end of the trading day. It is when the market gets closed. This price represents the most up-to-date valuation of security until trading commences again on the next trading day. The closing price is often determined by an auction.12. Bid ask spread-The bid price shows the best price at which the other party is willing to buy the stock. That will be the best price at which the trader on the screen can sell the stock. The ask price shows the best price at which the other party will sell the stock. It is the best price at which the trader on the screen can buy the stock. The extent to which the ask price on the screen is greater than the bid price on the screen represents the bid-ask spread of the stock.13. Top Line and Bottom Line- Bottom line comes from the position of net income in a company’s earnings report: at the bottom. Variously, it can be used to refer to the net earnings or earnings per share (EPS) of a business.A company’s bottom line is the total profit made on an income statement, minus all of the losses incurred including the cost of goods, tax and interest payments on debts. If referring to EPS, the figure is divided by the number of outstanding shares in the company. Most companies aim to improve their bottom lines through two methods: Growing revenues (i.e., generate top-line growth) and increasing efficiency (or cutting costs).The Top Line refers to a company's gross sales or revenues. When reporting quarterly performance, company’s post the period’s sales number as the first entry in the top line of the income statement. Therefore, when people comment on a company's "top-line growth", they are making reference to an increase in gross sales or revenues. These numbers can be compared with peer companies to check the financial health of the company.14. LTCG- Long-term capital gains are derived from assets that are held for more than one year before they are disposed of. It is determined by the difference in value of sale price and purchase price of assets owned for over 12 months. This gain is, therefore, the net profit that investors enjoy while selling this asset. Previously, the LTCG on equity shares were exempt from taxation under Section 10 (38) of the Income Tax Act, 1961. However, the Annual Budget of 2018 proposed the withdrawal of Section 10 (38) and alternatively introduced Section 112A to decide the tax implication of LTCG on the sale of equity shares. Under this Section, the LTCG on share is taxed at the concessional rate of 10% for the gains exceeding the amount of Rs. 1 Lakh. Here, the amount does not include the benefits of indexation, as well as, the benefits of calculation of capital gain in foreign currency, for non-residents. Compared to gains from short term capital assets which is taxed at 15%, the long term capital gains make for a much better investment option.Corporate Actions- A corporate action is any activity that brings material change to an organization and impacts its stakeholders, including shareholders, both common and preferred, as well as bondholders15. Stock Split- When a company declares a stock split, the number of shares of that company increases, but the market cap remains the same. Existing shares split, but the underlying value remains the same. As the number of shares increases, price per share goes down.For example, a company has 2 lakhs shares outstanding. The price of those shares is Rs.100. So, the firm's total market value, or market capitalization, is Rs. 2 crores (2 lakhs x Rs. 100/share). After a 2:1 stock split, the firm's number of shares will double to 4 lakhs, while the value of those shares will be cut in half to Rs. 50. But, the company's total market capitalization will remain the same at just Rs. 2 crores (4 lakhs x RS. 50/share).Also, if an investor has 100 shares of the above company before the split. Before the split the shares would have been worth Rs. 10,000 (100 x Rs. 100/share). After the stock split the investor will then have 200 shares, but the firm's share price will be cut in half to Rs. 50. Thus, the net value of the shares will remain unchanged at Rs. 10,000 (200 x Rs.50/share).16. Bonus Shares- Bonus shares are additional shares given to the current shareholders without any additional cost, based upon the number of shares that a shareholder owns. These are company's accumulated earnings which are not given out in the form of dividends, but are converted into free shares.Companies issue bonus shares to encourage retail participation and increase their equity base. When price per share of a company is high, it becomes difficult for new investors to buy shares of that particular company. Increase in the number of shares reduces the price per share. But the overall capital remains the same even if bonus shares are declared.17. Dividend- A dividend is a distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a proportion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-invested in the business (called retained earnings). The current year profit as well as the retained earnings of previous years is available for distribution; a corporation usually is prohibited from paying a dividend out of its capital. Further, when a company declares a dividend, its share prices undergo a significant increase governed by market activities. They are more likely to pay a premium in the hope of earning dividends. However, the share prices start to decline by a similar proportion once the date of dividend eligibility expires. Some of the related terms relevant with dividend distribution process-Dates- ImportanceAnnouncement Dates - The company’s board of directors announces the dividend on this date.Ex-Dividend Date- The ex-dividend date for stocks is usually set one business day before the record date. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you get the dividend.Record Date- The record date, or date of record, is the cut-off date established by a company in order to determine which shareholders are eligible to receive a dividend or distribution. The shareholders of record as of the record date will be entitled to receive the dividend or distribution, declared by the company.Payment Date- Date on which dividend is credited to investors accountThe Finance Act, 2020 imposes a TDS on dividend distribution by companies and mutual funds on or after 1 April 2020. The normal rate of TDS is 10% on dividend income paid in excess of Rs 5,000 from a company or mutual fund. However, as a COVID-19 relief measure, the government reduced the TDS rate to 7.5% for distribution from 14 May 2020 until 31 March 2021.18. Gap Up and Gap Down- Gap ups and gap downs are with reference to two consecutive day’s price levels. It focuses more on prices and does not look at volumes. A full gap up occurs when the next day opening price is higher than the high price of the previous day. A full gap-down occurs when the opening price of the stock is lower than the previous day’s low price. In the chart below, the full gap up is depicted by the green arrow and the full gap down is depicted by the red arrow.19. Short Sell- Short-selling, in the context of the stock market, is the practice where an investor sells shares that he does not own at the time of selling them. He sells them in the hope that the price of those shares will decline, and he will profit by buying back those shares at a lower price. In India, there is no prohibition on short-selling by retail investors. If an investor shorts a stock, there is technically no limit to the amount that they could lose because the stock can continue to go up in value indefinitely.Short-selling is considered an essential feature of the securities market not just for providing liquidity, but also for helping price corrections in over valued stocks.20. Different types of orders-Market order- A market order is an order to buy or sell a stock at the best available price. Generally, this type of order will be executed immediately. However, the price at which a market order will be executed is not guaranteed.Limit order- In contrast, a limit order is an order that places a limit on the price you are willing to pay to buy a stock or on the price you are willing to accept to sell a stock. Thus, a limit order guarantees a price, but execution remains uncertain. This is because the stock may not reach the price at which the order is placed during the trading day.Stop Loss order- A stop-loss order is an order placed with a broker to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit an investor's loss on a security position. Setting a stop-loss order for 15% below the price at which you bought the stock will limit your loss to 15%. For example, if an investor holds 100 shares of ABC Company at Rs. 20 per share and the stock is now trading at Rs. 28 per share. The investor wants to continue holding the stock for further upsides but also does not want to lose out on all the unrealized gains he has made so far. He decides to hold the stock, but sell it only if it drops below Rs. 25. Rather than monitoring the stock price on a daily basis, the investor can simply enter a stop-loss order to sell 100 shares of ABC if its price drops to Rs. 25. This way he can gain if the stock goes up and limit his losses if the stock goes down.Buy Stop Order- A buy stop order is entered at a stop price above the current market price. Investors generally use a buy stop order to limit a loss or protect a profit on a stock that they have sold short. A sell stop order is entered at a stop price below the current market price. Investors generally use a sell stop order to limit a loss or protect a profit on a stock they own.Goods-till-date order- Goods-till-date orders are the smart market tool which allows you to buy or sell a stock usually within 90 days at a pre-determined priceGood-till-canceled order- As the name suggests, good-till-canceled order whether to buy or sell remains in the market only until you cancels it. The validity of good-till-canceled order may be 30-60 days. There can be different policies related to good-till-canceled orders. Therefore you need to check with your broker regarding the details.Immediate-or-cancel order- Immediate-or-cancel order is a kind of order wherein the order to buy or sell security must be immediately made with the broker. If there is any portion of the order that could not be executed, the portion stands canceled.21. Circuit Filters and Price Band- A circuit filter is basically a price band, which is levied by the SEBI to curb the excessive movement in the stock prices. A price band is essentially a limit beyond which the prices of the shares are restricted to move on a particular day. It restricts the extreme price movement and manipulation carried out by the stock operators. A very important point that must be taken into the consideration is once the circuit filter has been applied, and then no order can be placed. If there are any existing orders with the brokers, then it can either be modified or canceled.The stock exchanges place the price bands with the upper and lower circuits within which the stock prices are not allowed to move in a particular day. Any upward movement of the share prices beyond the set price band is called as an upper limit. Similarly, any downward movement of the share prices beyond the stipulated price band is called as a lower limit.For example, if a share price of a company is Rs 200 and there is a circuit breaker of 10%, then its trading will be halted id the share price goes above Rs 210. Similarly, if the share price decreases below Rs 100, then the lower end circuit will be applied by the stock exchanges and trading is suspended.There are three circuit limits for the stock exchanges i.e. 10%, 15% and 20% that had been defined by the SEBI. The filters are applied to the Sensex or Nifty whichever breaches the price limit first. The effects of the filters largely depend upon the time at which it takes place.22. Market Capitalization- Market capitalization or Market Cap refers to the total market value of a company’s outstanding shares. It is calculated by multiplying a company’s outstanding shares with the current market price of one share.Market Capitalization = (Total no of outstanding share) * (Price of one share)Here, Outstanding Shares refers to all shares currently owned by stockholders, company officials, and investors in the public domain.Any company in Indian stock market can be classified in one of the following categories:• Large Cap• Mid Cap• Small CapMarket Capitalization- ClassificationLess than 8,500 Cr- Small CapBetween 8,500 Cr to 28,000 Cr- Mid CapGreater than 28,000 Cr- Large Cap23. Blue chip stocks are shares of very large and well-recognized companies with a long history of sound financial performance. These stocks are known to have capabilities to endure tough market conditions and give high returns in good market conditions. Blue chip stocks generally cost high, as they have good reputation and are often market leaders in their respective industries. It is advised to invest in blue stock companies for long term benefits and to be on safer side. Blue stock companies are generally referred to as large cap companies.24. Lot Size- In the stock market, lot size refers to the number of shares you buy in one transaction. In options trading, lot size represents the total number of contracts contained in one derivative security. Unlike trading in equity, options are traded in lots. You have to buy minimum 1 lot of options which could include many shares. Exchange decides the lot size of the options. An investor could buy shares of a company in the quantity of 1,2, 100 or 1000's. But in case of options, the trader can trade only in lots.25. Free Float Market Capitalization- In free float market capitalization, the value of the company is calculated by excluding shares held by the promoters. These excluded shares are the free float shares. Stocks that have small free float are likely to see higher price volatility as it takes fewer trades to move the share price. On the other hand, in the case of a larger free float, volatility is lower. In stocks with a large free float, the number of people buying and selling the shares is higher and so, a small amount of trading does not affect the price significantly.26. Contract Note- Contract note is the legal record of any transaction carried out on a stock exchange through a stock broker. It serves as the confirmation of trade done on a particular day on behalf of a client on a stock exchange (BSE/NSE). You receive this document from your broker at end of day if you have bought or sold share through him. This document is also available in digitally signed electronic format.Contract note describes key details of a particular transaction together with date, time, price, quantity traded etc. It also includes a Reference Number which can be used to cross-check the details of the transaction with the stock exchanges. A valid contract note should have following details in structured format-• SEBI registration number of the Trading Member/ Sub broker• Details of trade like, Order Number, Trade Number., Trade Price, Trade execution Time, Traded Quantity, Brokerage Charged, Settlement Reference Number, Details of other Service Charges• Signature of Authorized Signatory or Digital Signature in Electronic format• Bylaws and regulations pertaining to ArbitrationThis document is a prerequisite for filing a complaint or arbitration proceedings against your broker, you should always insist on timely delivery of contract notes from your broker.27. Depositories and Depository Participant(DPs)- Depository is a place where financial securities are held in de-materialized form. It is responsible for maintenance of ownership records and facilitation of trading in de-materialized securities. However, a Depository Participant (DP) is described as an Agent (law) of the depository. They are the intermediaries between the depository and the investors. A depository eliminates the risk associated with holding physical securities. Earlier, the buyer would have to keep checking if the shares have been transferred safely to his account, and ensure that theft, damage or loss has not happened. After the depository system came about, such risks have been greatly reduced since the shares are held in and transferred in an electronic manner.NSDL is a short form for National Securities Depository Limited which deals with "National Stock Exchange" (NSE), whereas CDSL is the short form for Central Depository Securities Limited which works for Bombay Stock Exchange (BSE). CDSL and NSDL are both government registered share depositories in India. Share depositories hold shares in an electronic form. CDSL and NSDL are to shares what banks are to cash and fixed deposits.How to Analyse a Stock• Fundamental Analysis- Fundamental analysis is a method of evaluating a security in an attempt to measure its intrinsic value, by examining related economic, financial and other qualitative and quantitative factors.• Technical Analysis- Reading price charts and decides what likely to happen in near term. There are so many ways of doing technical analysis. I have curated a course purely for learning the basics, fundamental and technical analysis of the stock market. Hereby providing the link highlighting the details of my course.Vishal Jain's answer to Where can I learn stock market investing and technical analysis in India?I hope this compilation of terminologies will increase your knowledge about the stock market. However, it is highly suggested to do a course to have an in depth and accurate knowledge about the stock market.Image Source- Money control and Google

Prime Minister Narendra ModiThe EconomyDuring his election campaign in 2013-14, Modi raised expectations of a great economic revival, high growth and tens of millions of new jobs for the ever-growing workforce. The new government hit the ground running and the first two years were action-packed with new programmes and plans – until he took the arbitrary decision to demonetise 86% of the currency in circulation. At the end of his term, there are many hits as well as major misses.Goods and Services TaxThe GST is the indirect tax that subsumed a variety of central and state levies and replaced a cascading and complicated tax system. It transformed India’s 29 states into one market with one set of tax rates. The UPA government had sought to pass the GST law, but it was the NDA government that managed to do so. The GST Council, formed with the states having two-third vote and the Centre a one-third vote, is a rare example of cooperative federalism. Where the government faltered was its implementation. It has since realised that it made the system exceptionally complicated, with five tax slabs and a complex filing process, all of which alienated small traders and businessmen, especially coming close on the heels of demonetisation. To their credit, the government and the GST Council have been responsive and have resolved many issues and simplified the tax slabs and procedures. It’s still a work in progress.Insolvency and Bankruptcy CodeThe government inherited a banking system burdened with huge bad debt. The non-performing assets (NPAs) of banks had risen for a number of reasons – from bad credit decisions to poor monitoring, connivance of bank employees, as well as cyclical business downturns. The Insolvency and Bankruptcy Code (IBC), proved to be a game changer as it took NPAs head-on. The code allows either the creditor or the borrower to approach the National Company Law Tribunal (NCLT) to initiate insolvency proceedings and obtain time-bound resolution. While it’s still early days, the recent interest shown by reputed domestic and global businesses to acquire bankrupt companies with large bank NPAs but good underlying assets points to the success of the IBC code. This should restore the health of banks somewhat and enable them to start lending to viable projects. Banks have recovered over 1.1 lakh crore through IBC since 2017-18.Fugitive Economic Offenders ActThe Fugitive Economic Offenders Act (FEOA) came into force in April 2018. The Act was needed as the number of large fraud cases reported by banks rose alarmingly in the last few years, with over 30 people accused and under probe for various financial scams/frauds fleeing the country to escape the law. Under the law, if an economic offender flees the country to avoid due process, he/she can be declared a ‘fugitive economic offender’ and their properties can be confiscated. Nirav Modi and Vijay Mallya have been declared as economic offenders. Their property, including art collections and cars, can be auctioned off to recover part of their debt.DemonetisationOn November 8, 2016, Narendra Modi sucked out 86% of the currency in circulation by value in the Indian economy. The decision was taken against the advice of two successive RBI governors, Raghuram Rajan and Urjit Patel. It was done on the wrong premise – that there was too much cash in the economy (12% of GDP); that the currency withdrawn – Rs 500 and Rs 1,000 -- were very high-value notes (and, instead, Modi introduced Rs 2,000 notes!); that the move would eliminate all black money in the system as well as fake currency. We know what actually happened: 99.7% of the currency in the system came into the banks, and so there was no ‘black money dividend’ – the Rs 3 lakh crore that the government expected – to be had; instead, millions of jobs were lost (3.5 million in the year following the move, as per CMIE data, and continuing job losses to this day as thousands of SMEs never recovered, the construction sector slumped and farmers were hit hard as it came just before a sowing season. Demonetisation must stand out as one of the most arbitrary decisions ever by an elected leader in a democracy.Farm CrisisBy all accounts, India’s farm crisis has worsened in the Modi years. Although the government tried introducing some new ideas at the beginning of the term, such as neem-coated urea, soil health cards and crop insurance, such tinkering did not help. It was only in the fourth year of the government that it began to realise that it had not been able to do much about the farm crisis. While it had won big in the UP elections with a combination of demonetisation and a promise of a loan waiver, it was closer to the December 2018 elections in the Hindi heartland that it conceded the demand for a higher minimum support price. Still later, after losing those elections, it thought of the PM-KISAN Rs 6,000 a year dole for farmers. What it failed to do in these five years was to bring in reforms in the sector, starting with ensuring higher prices for farm produce. As a result, its promise of doubling farmers’ incomes by 2019 (now pushed to 2022) remains just a pipedream for farmers.InfrastructureThis is the one bright spot in the government’s record. The speeding up of highway construction, the new Bharatmala and Sagarmala projects, the building or revival of regional airports and regional air connectivity, and much work on modernising and expanding railways are all achievements that the Modi government can claim. Similarly, it can count some success in revitalising the coal and power sectors. The claim of having electrified all of India “while the Congress had done nothing in 70 years” is exaggerated. India has more than six lakh villages. The Modi government electrified the last 18,000 of them.Rather, it should take credit for the successful Ujala LED bulb scheme. Although started by the previous regime, the Modi government expanded the scheme and benefitted from the economy of scale as it halved the price of each bulb.DisinvestmentThe government claims to have not only reached its disinvestment target of Rs 80,000 crore for FY19, but of having surpassed it by Rs 5,000 crore. However, it managed to do so not by ‘disinvestment’ proper but by getting one PSU to buy equity in another. This was the case when Rural Electrification Corporation acquired nearly 53% of Power Finance Corporation, and the government made a neat Rs 14,500 crore; or when ONGC bought the government’s stake in HPCL for Rs 37,000 crore. The government managed to list only five companies in FY19, garnering a paltry Rs 2,000 crore. It also raised Rs 8,000 crore from share buybacks by PSUs. The big failure was the bid to privatise Air India.Banking ReformsThe government started on the right path with aggressive recognition of NPAs and clean-up of balance sheets. It announced management reforms to be undertaken in the sector, such as hiring professionals laterally at least in five large banks. By early 2016, the Banks Board Bureau (BBB) was in place to recommend banking reforms. But the recommendations of BBB were not implemented and the reforms lost steam. The government did infuse much-needed capital of Rs 2 lakh crore into banks after kicking the can along for some time. But in the absence of reforms, the question is, is good money being thrown after bad?Petrol PriceThe Modi government was lucky as oil prices fell drastically soon after it came to power in 2014. This helped it to continue to deregulate diesel and petroleum prices that UPA had started and substantially reduce the subsidy bill. But the government did not pass on the benefit of lower oil prices, even when it touched as low as $30 a barrel in early 2016, to consumers. Instead, it raised excise duties to keep the price of petrol and diesel as high as it was during the UPA era when international prices were more than three times higher. The jury is out on whether this was economically good or bad. It helped the government raise Rs 2.3 lakh crore in taxes and helped it balance its fiscal numbers. But it forced consumers to tighten spending elsewhere.GDP, Jobs, InflationWe could praise the Modi government on maintaining economic growth at over 7% (although the latest data shows slowing growth, especially in the already stressed agriculture sector), we could praise the government for bringing down inflation and keeping it low, and we could praise it for maintaining fiscal discipline by and large, letting it slip only due to political desperation as elections approached. But, unfortunately, by its own revisions and re-revisions of GDP data to prove that the economy is indeed growing fast and by hiding the government’s own jobs data, the Modi government has come under question on all these numbers. So, we must really say that on these, the jury is still out.Flagship ProgrammesSwachh BharatThe Swachh Bharat Mission was announced to make India ‘open defecation-free’ by 2019. Over 9 crore toilets have been built, and coverage of rural sanitation has risen to 98% from about 40% in 2014. Many municipality areas in the country have been declared open defecation-free (ODF). The program brought discussion about cleanliness and sanitation to the mainstream. This may be the Modi government’s most successful program, and an important one, with effects on the health and dignity of the poor. However, ground-level reports from some areas show implementation failures -- toilets were built in a hurry with no proper water supply or drainage system resulting in unusable toilets.JAM and DBTThe ‘JAM Trinity’ – Jan Dhan-Aadhaar-Mobile – was first conceived by the Manmohan Singh government. By the time it went out of office, it had built the Aadhaar platform to an irreversible scale, and carried out pilots of Direct Benefit Transfer program. The BJP, especially Modi himself, had vehemently opposed Aadhaar while in opposition. Once in power, Modi not only continued with the program but expanded it vastly (though in doing so it began to raise concerns over the potential of Aadhaar to enable a surveillance state when linked to many aspects of a citizen’s life). Government claims that “Rs 2.8 lakh crore in subsidies were transferred directly into the bank accounts of authentic beneficiaries last fiscal, saving Rs 1.2 lakh crore in leakages over the last four years and eliminating almost 7 crore fake accounts in several schemes”. These figures, however, may not tell the whole story.Make in India‘Make in India’ was launched with much fanfare. However, despite opening up several sectoral caps for FDI and improving ‘ease of doing business’ ranking, manufacturing has not picked up as expected. Manufacturing value-added in Q3 2018 is estimated to have moderated to 6.7% ,sharply down from April-June’s 12.4%. The sector is facing headwinds from both demand and supply sides. Demand has softened as can be seen by growing inventory in the auto sector and softer sales figures of FMCG companies. The supply side is still limping back after the disruption of the informal SME sectors by demonetization and GST. The eight core sectors that make up about 40% of India’s total industrial output — coal, crude oil, natural gas, refinery products, fertilizer, steel, cement and electricity — cumulatively grew by only 1.8% in January 2019. Centre for Monitoring Indian Economy data on projects show that the value of new project investments has declined in Q3 FY2019. The government did not make any sincere effort to reform the arcane labour laws and retreated from the early bid to tweak the land acquisition law. Without these reforms, ‘Make in India’ is unlikely to fly.UjwalaMillions of us gave up subsidised cylinders when Modi gave a call. Those cylinders were given to poor households in the rural areas under the Ujwala scheme. It showed good intent, but is the scheme sustainable? While the government claims to have given some 8 crore households free gas connection and the first cylinder, the truth is, most of these households are unable to afford the successive cylinders, which cost Rs 600. The government must do a study on how many have continued to buy gas cylinders before it makes claims about Ujwala.Ayushman BharatThe Ayushman Bharat health insurance scheme is a recent one and the jury is still out on whether it is the best way forward to ensure healthcare for the poor. Only 18,000 private hospitals across the country have joined the scheme so far. Experts argue that the only realistic way to improve affordable healthcare is to build the capacity of the public healthcare system. The other component of AB – the Jan Aushadi Kendras and the move to bring down the cost of stents, knee implants and essential medicines work better for the poor.Mudra LoansThe Mudra loan scheme is a repackaged version of loans for small and micro businesses that was already in place. The government’s claims of job creation now rest on these loans, the logic being that the government has given Rs 7-8 lakh crore in loans to entrepreneurs over the last four years and these must have created jobs. The truth is, the average size of these loans is so small that they could not have created sustainable jobs. The government has either not collected data on the jobs created by these loans or is not sharing the data with the public. In either case, we have to take its claims with a jar of salt.National SecurityPakistan PolicyIn these last few weeks, since the Balakot airstrike, the Prime Minister has been going around claiming that his government is the strongest on national security matters, especially when it comes to Pakistan and terrorism. Modi certainly deserves credit for taking the political decision to hit terror camps based inside Pakistan. With it, India overcame an important psychological barrier – that posed by Pakistan’s nuclear sabre-rattling. But with the details of what exactly transpired during the airstrike being in dispute (especially over whether the target was hit and terrorists were killed) and with the way the episode ended with Pakistan returning Wg Cdr Abhinandan to India, Modi and the BJP lost some of the sheen. Moreover, the claim that Congress was soft on Pakistan while Modi is hard on it is not borne out by evidence since 1971.Kashmir PolicyWhere the Modi government has much to answer for in national security matters is Kashmir. It inherited a state where militancy had been calmed down by a combination of policies. The government should have taken forward the policy of talking to Kashmiris and bringing them closer to Delhi’s position. Instead, it embarked on a security forces-led hard approach to deal with discontented Kashmiri youth. It has driven more Kashmiri youth into militancy than any previous government since the 1990s. Local support for militants and terrorists, which had subsided in the years since Vajpayee, has grown. Kashmir, in the Modi years, has become more estranged from India than ever before.Institutions under StressJudges’ Press ConferenceThe January 12, 2018 press conference by four Supreme Court judges was an unprecedented event that sent shockwaves through the entire edifice of Indian democracy. Although on the surface it looked like an internal issue among judges, the immediate triggers were the Judge Loya case in which petitioners had asked for a probe into the judge’s death (Loya, a CBI judge who was hearing the Gujarat Sohrabuddin Sheikh fake encounter case and had insisted that BJP chief Amit Shah appear before the court, had died under mysterious circumstances); and the government’s refusal to ratify the Memorandum of Procedure and end its obstruction to appointment of judges to the higher judiciary.The CBI MessIn December 2016, Karnataka cadre IPS officer and CBI Special Director RK Dutta was tipped to become the next CBI director, but was transferred out of the agency three days before then director Anil Sinha retired. In Dutta’s place, Modi placed Rakesh Asthana, a Gujarat cadre IPS officer who had been brought in earlier as additional director. Asthana was made interim director and would have become CBI chief, but for a PIL against the move citing corruption charges against him. Modi then brought in Alok Verma, former Delhi police commissioner, as director. Asthana was made No. 2 in the organisation but was being probed in half a dozen corruption charges. He, in turn, charged Verma with bribery. When things got too ugly, Modi stepped in and benched both Verma and Asthana, eventually leading to Verma’s ouster despite the CVC saying there was no evidence against him and the SC reinstating him. Verma had accepted a complaint on the Rafale deal and, just before the government’s ‘midnight coup’ at CBI, the buzz was that he was about to file an FIR in the case, as he was duty-bound to following the complaint.RBI as HandmaidenWe now know, thanks to an RTI query that forced the RBI to release the minutes of the meeting that it held to approve Modi’s demonetisation, that then RBI Governor Urjit Patel and the Board of RBI did not agree with the government’s reasoning for demonetisation and also did not believe that it would achieve the stated objectives. But they still commended the move to the government “in the larger public interest” after a perfunctory meeting less than three hours before Modi announced it on TV on November 8, 2016. We also know what a disaster it proved to be. But the government didn’t stop there. As the economy slowed down, it began to pressure RBI to lower interest rates, allow banks that were already reeling under non-performing loans to give out more loans and to hand over RBI’s reserves, built up over years, to the government. Urjit Patel resigned as Governor. Modi had his way.Whither Academic Freedom!An ideological attack on universities and academic freedom began almost as soon as Modi came to power, spearheaded by the BJP’s student wing ABVP and making the Jawaharlal Nehru University a special target. The whole university was branded Leftist, supporters of Maoists and terrorists, anti-nationals and the like. Sedition charges were thrust against JNU students’ union president Kanhaiya Kumar. Since then, the attack on higher education has taken many forms. The latest is a Ministry of HRD directive that PhD students can conduct research only on “nationally relevant” topics! Indeed, a nation-wide protest movement of teachers, students, parents and eminent educationists has formed against the government’s policies.Scams, Crony CapitalismRafale DealOne of the main claims of the Modi government is that there was no corruption scam in his five years. In the Rafale purchase, government documents show that the UPA-era purchase of 126 fighter aircraft for the IAF was changed to only 36 fighters without necessary approvals. The benchmark price of the aircraft was arbitrarily pushed up by nearly $3 billion by the PM-led Cabinet Committee on Security. The PMO inserted itself into the negotiations and gave concessions to Dassault, the French supplier, on sovereign and bank guarantees; deleted the anti-corruption clause; gave up India’s right to examine Dassault’s financial books. The clause on offsets in the Defence Procurement Procedure was changed with retrospective effect.It has been alleged that all these were done to facilitate Anil Ambani to get the offset contracts from Dassault (as well as Thales and MBDA). The opposition has been demanding a probe and a Joint Parliamentary Committee on the matter. The government has done everything to ensure no probe takes place.A Mallya & two ModisBusinessman Vijay Mallya fled to London, through the diplomatic channel at the Delhi airport, apparently carrying 300 bags (as per Enforcement Directorate). Mallya met Finance Minister Arun Jaitley in the corridors of Parliament just before he fled. Somebody diluted a look-out notice issued against Mallya to enable him to escape. Who?PM Modi was associated with Nirav Modi and his uncle Mehul Choksi almost until the very time they fled the country. Nirav Modi was in the PM’s group photograph at Davos last January. External Affairs Minister Sushma Swaraj intervened on behalf of Lalit Modi with the British authorities.More recently, the criteria for winning contracts to run airports were changed. In the bidding that ensued, the Adani Group of PM Modi’s friend Gautam Adani won the contract for all six airports that were put up for bid.Was there no corruption and crony capitalism in PM Modi’s reign or was there no investigation?Social Fabric DamagedCow TerrorismUnder the Modi government at the Centre and BJP governments in 15 states across the country, ‘cow terrorism’ by cow protection vigilante became the norm, especially in much of North India, between 2014 and 2018, aided and abetted by BJP state governments. Cow terrorism has subsided only in recent months, after the Dalits in Gujarat, the other victims of Gau Raksha gangs apart from Muslims, protested against attacks on them, and especially after voters in the Hindi heartland states of Rajasthan, Madhya Pradesh and Chhattisgarh voted out their BJP governments.Mohammad Akhlaq in Dadri, UP; Pehlu Khan and Ummar Khan in Alwar, Rajasthan; Mazlum Ansari, Imteyaz Khan, only 15 years old, and Alimuddin in Jharkhand; Inspector Subodh Kumar Singh in Bulandshahr, UP, were a few of those murdered by cow terrorists.Many others were lynched and left to die. In many cases, police booked cases against the victims rather than their attackers.Urban NaxalsThat has become the description, propagated by no less than the prime minister himself, for civil society activists who have for years and decades worked for the rights of Dalits and Adivasis in Naxal-affected areas. Several such activists – including Sudha Bharadwaj (65), an IIT-Kanpur graduate turned lawyer-activist – have been thrown into jail. Some have been accused of plotting to kill Modi.Sabarimala IssueThe Supreme Court has ruled that women of all ages must be allowed into the Sabarimala Temple and that entry cannot be denied, as has been the practice since 1991, to women of reproductive age. The Modi government did not challenge the court order, but he and his party have taken to the streets and made it an election issue, polarising society with its “Hindu traditions are in danger” war cry.InformationSurveillance SocietyThe Modi government has made several attempts at creating a surveillance state and has partly succeeded in those attempts. The Aadhaar number was sought to be linked to everything from one’s bank account and PAN number to mobile number to EPFO and insurance policies, etc. This was struck down by the Supreme Court, with only the Aadhaar-PAN link held valid. Instead of abiding by the judgement, the government has issued an ordinance to permit Aadhaar linkages. The government also issued a tender for the creation of a nation-wide social media surveillance machinery that would watch what people were saying on social media networks. It had to withdraw the tender after the media, activists and opposition leaders opposed the move and took the matter to court. The government recently issued an executive order allowing 10 central agencies – spy, internal security and tax agencies – to spy on any information available on any citizen’s computer, phone and other digital devices, including reading your emails and messages.While the Modi government wants to know everything about all citizens , the government has blocked much information regarding itself and its performance. For instance, most recently, it has held back NSSO data on jobs; the CAG report on the Rafale deal is not available to the public though it was tabled in Parliament (albeit on the last day of the last session of Parliament thus with no discussion on it).Surgical Strike on RTIIn July 2018, the government sought to amend the RTI Act to empower itself to decide the salaries and tenures of Information Commissioners. The RTI law gives Information Commissioners a term of five years. Salaries of members of the Central Information Commission (CIC) and heads of the State ICs are equal to that of Supreme Court judges, while ICs in the states are placed on par with a Chief Secretary. The Modi government did not put out this amendment Bill for public debate; a Good Samaritan leaked it. The government justified the proposed changes saying Information Commissioners are statutory authorities. So, they cannot be equated with judges of the Supreme Court, who are constitutional authorities. But only months earlier, the same government had hiked the salaries of the Central Vigilance Commissioner and the members of 17 other statutory appellate bodies to the same level as that of Supreme Court judges. The RTI amendment proposal was never tabled in Parliament, thanks to protests by civil society, the media and opposition parties.PM’s CertificatesRTI queries on a whole host of issues have been blocked in violation of orders of the central information commission (CIC). Thus, an RTI seeking the PM’s education certificates from the universities that hold them have been blocked despite the fact that this is part of the information he submits to the Election Commission; information on the educational attainments of Smriti Irani, who was earlier the Union HRD minister presiding over the education system of the country, have been denied.PM’s EntourageThe UPA government had in 2012 issued a directive to make all information regarding the foreign tours of the PM and ministers public. This category of information was padlocked 2014-15 onwards. The PMO has refused to reveal which businessmen accompanied PM Modi on his foreign tours, despite being ordered by the CIC to do so.Black Money ReportsResearch reports on black money commissioned by the government since 2012 are under lock and key. The National Institute of Public Finance and Policy, the National Council for Applied Economic Research and the National Institute of Financial Management conducted these studies, but they cite a confidentiality clause in their agreement with the government to reject RTI applications. Recently, Finance Minister Arun Jaitley said these reports can be shared only with members of the Parliamentary Standing Committee on Finance. Other MPs and citizens do not have a right to read these reports, he declared in Parliament.Electoral BondsIn 2017, the government introduced Electoral Bonds, a system for political parties to receive unlimited donations while donors remain anonymous. Donors do not have to reveal to anyone which party they donated to and how much. Political parties do not have to reveal who donated to them and how much. They only have to declare the aggregate figure of donations received. Information about the discussions within government on the desirability of EBs, sought under RTI, have been denied.Parliament and Politics3 Instances of SubterfugeThe government enjoyed majority in the Lok Sabha but did not have the numbers in the Rajya Sabha. Democratic spirit required that the government tabled and allowed debate on every bill in both Houses. But the government resorted to subterfuge to pass certain bills.The Aadhaar bill was hidden in a Money Bill, although it contained provisions that could not be part of a Money Bill, and was passed through Lok Sabha, denying the Rajya Sabha a chance to debate these provisions. Most of these were later struck down by the Supreme Court, but the government has issued an ordinance to overcome the judgement.The amendments to four laws to enable the secretive Electoral Bonds scheme that allows anonymous and unlimited donations to political parties were hidden in Finance Bill 2017 and pushed through in the Lok Sabha, allowing no debate on the matter.The validity of the Electoral Bonds is now a matter in the Supreme Court. Meanwhile, the BJP has been the biggest beneficiary of these anonymous donations – collecting over 95% of the total such donations. There is a fear that the BJP is pouring in humongous amounts of money collected through Electoral Bonds to win this election.Foreign ContributionsRegulation Act (FCRA) was amended to make the BJP, Congress and the Left Parties immune to investigation on their foreign fund sources with retrospective effect from 1976, just when the Delhi High Court was about to order a probe into these donations.Modi 2.0On the first anniversary of Modi government 2.0, the prime minister has written a letter to citizens of India, recounting the achievements, the hurdles and the challenges faced by his government during the term.HIGHLIGHTSPM Modi has written a letter to the citizens of India to mark the first anniversary of his second term in officeIn his letter, PM shared various schemes launched by the Modi govt during the first and second termSince 2014, the nation has witnessed some major transformations, PM wrote in the letterPrime Minister Narendra Modi has written a letter to the citizens of India to mark the first anniversary of his second term in office. The PM Modi-led NDA government had first come to power on May 26, 2014. He was re-elected as PM with a landslide victory on May 23. he took an oath to the office again on May 30.In his letter, PM Modi has shared the various schemes launched by the Modi government during the first and second term and the monumental challenges faced by it."This day last year began a golden chapter in the history of Indian democracy. It was after several decades that the people of the country voted back a full-term government with a full majority. Once again, I bow to the 130 crore people of India and the democratic ethos of our nation," PM Modi said in the letter.He noted that during normal times, the celebrations for the first anniversary would have been different. "During normal times, I would have been in your midst. However, the present circumstances do not permit that. That is why I seek your blessings through this letter," the PM said.PM Narendra Modi said that since 2014, the nation has witnessed some major transformations. "In the last five years, the nation saw how the administrative apparatus broke itself free of status quo and from the swamp of corruption as well as misgovernance," the prime minister said.Counting the achievements of his first term, PM Modi said, "From 2014 to 2019, India's stature rose significantly. The dignity of the poor was enhanced. The nation achieved financial inclusion, free gas and electricity connections, total sanitation coverage, and made progress towards ensuring 'Housing for All'."“India demonstrated its mettle through the surgical strike and airstrike. At the same time, decades-old demands such as OROP, One Nation One Tax- GST, better MSP for farmers were fulfilled," he said,He said that since 2019, when India voted him back to power, he has been working to make India a global leader.PM Modi remembers key decisions taken in last one yearIn the letter to citizens, PM Modi recounted some of the key decisions taken by his government which 'were widely discussed and remain etched in public discourse'.The list included Article 370, Ram Mandir judgment, Triple Talaq and amendment to the Citizenship Act."Article 370 furthered the spirit of national unity and integration. The Ram Mandir judgment, delivered unanimously by the Honourable Supreme Court of India, brought an amicable end to a debate persisting for centuries. The barbaric practice of Triple Talaq has been confined to the dustbin of history. Amendment to the Citizenship Act was an expression of India's compassion and spirit of inclusiveness," he said.The PM said that there were several other decisions that added 'momentum to the nation's development trajectory'. These include the creation of the post of the Chief of Defence Staff and stepping up preparations for Mission Gaganyaan.Prime Minister Narendra Modi's letter on the first anniversary of the second term also listed several schemes launched or enhanced by his government, including PM Kisan Samman Nidhi, Jal Jeevan Mission, free vaccination campaign for livestock, monthly pension to farmers, farm labourers, small shopkeepers and workers in unorganised sector, among others.The PM said that during the Modi government 2.0 the parliament has broken the decades-old record in terms of productivity. "As a result, whether it be the Consumer Protection Act, the amendment to Chit Fund Law or laws to provide more protection to women, children and Divyang, their passage in the parliament was expedited," he said."The list of such historic actions and decisions taken in the national interest would be too long to detail in this letter. But I must say that every day of this year, my government has worked round the clock with full vigour, taking and implementing these decisions," PM Modi said.'Shrestha Bharat rises above Covid crisis'PM Narendra Modi, in his letter, also talked about how Covid-19 outbreak has brought the nation's hopes and aspirations to a halt."While on one hand are powers with great economic resources and state-of-the-art healthcare systems, on the other hand is our country besieged with problems amidst a vast population and limited resources," he said, adding that even as many fealed that Covid-19 pandemic will be the worst in India, Indians have proven the world wrong with their sheer confidence and resilience. "You have transformed the way the world looks at us," the PM told Indian citizens.Noting the 'tremendous suffering' faced by labourers, migrant workers, hawkers and small scale industries, the PM said that the nation will have to ensure that inconveniences that we are facing do not turn into disasters.“Hence, it is very important for every Indian to follow all rules and guidelines. We have displayed patience so far and we should continue to do so. This is one of the important reasons for India being safer and in a better state than many other countries. This is a long battle but we have started traversing on the path of victory, and victory is our collective resolve," the letter said.The prime minister said that the people's resilience was once again tested when Cyclone Amphan hit West Bengal and Odisha. "Their courage inspires the people of India," PM Modi said.'India will set an example of economic revival'The prime minister said that given the way India has surprised the world with its unity and resolve in the fight against coronavirus, "there is a firm belief that we will also set an example in economic revival".Pushing the agenda of Aatmanirbhar Bharat Abhiyan, the prime minister said becoming self-reliant was the need of the hour. "We have to move forward based on our own abilities, in our own way, and there is only one way to do it - Aatmanirbhar Bharat or Self-reliant India.""This initiative will usher in a new era of opportunities for every Indian, be it our farmers, workers, small entrepreneurs or youth associated with startups," the PM said.The PM ended the letter by promising the nation that he will work day and night to solve problems faced by the nation."There are many challenges and problems that our country faces. I am working day and night. There could be deficiencies in me but there is nothing that our country lacks. The source of strength for my resolve is you, your support, blessings and affection. Due to the global pandemic this is certainly a time of crisis but for us Indians, this is also a time for a firm resolve," he said."We will move ahead on the path of progress and victory will be ours."Read | Aatm Nirbhar Bharat Abhiyan: PM Modi unveils Rs 20 lakh crore economic package with focus on self-relianceRead | Aatm nirbhar Bharat: PM Modi calls for self-reliance to achieve global leadership after Covid-19 crisisRead | Highlights of PM Modi's speechWatch | From call for self-reliance to Rs 20 lakh crore package, watch PM Modi's full speech.S. Raghotham, Geetima Krishna Das, Venkatesh Nayak,(Geetima Krishna Das is a research scholar at Indian Institute of Foreign Trade, New Delhi; Venkatesh Nayak is with the Commonwealth Human Rights Initiative, New Delhi)