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How to start Investing in your 20s - Investment ideas to become wealthy | Elamaran Selvam

 The word " Investing " sounds to be a scary one for most of us since we are not even aware of what is really meant by investing, and some even have a misconception that investing ends up losing your money. Being in your 20s is a golden opportunity to taste the market for the long term, and staying invested helps you to be financially free from your early days of retirement. Here we will discuss Where to Invest your Money in your early 20s. The financial situation in the 20 s When you are just graduated and landed on your first job, you will start earning more than you pocket money during your college time. Suddenly there will be a lot of money in your hand, but there arises a situation that you are no more dependent on your parents for your daily needs. Also, this is the period in your life where you would like to buy whatever you see, alongside you would also like to get rich from the money you earn.  Well, how to achieve your financial independence while enjoying your 20s?
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What is EIA draft 2020? Why do you need to know about it | Elamaran Selvam

In recent days wherever you switch to social media sites, you could notice some posts about EIA 2020 and viral hashtags like #withdrawEIA, #withdrawEIA2020. First of all, what is EIA? Why is it strongly criticized by climate and environmental activists and why should you really bother about the draft version, produced by the Union Ministry of Environment, Forest and Climate Change (MoEFCC), India. 

What is EIA?

Environmental Assessment (EA) is the assessment of environmental consequences (positive-negative) of a plan, policy, program, or actual projects before the decision to proceed with the proposed action. EIA was introduced in India in 1978, for river valley projects, but it was only after the Bhopal gas leak disaster in 1984 the country legislated an Act for environment protection in 1986.


Under the Environment (Protection) Act, 1986, India notified its first EIA norms in 1994, setting in place a legal framework for regulating activities that access, utilize, and affect (pollute) natural resources. Every development project has been required to go through the EIA process for obtaining prior environmental clearance ever since. The 1994 EIA notification was replaced with a modified draft in 2006.

EIA 2020 Draft: 

The draft notification was passed on March 12, replacing the old set of rules and regulations of EIA 2006 notification. The objective of the draft should be environment friendly, but it has become more industrial, and anti-people, destroying the natural resources present. Check this short video below for more information about the impact of EIA.

5 Major drawbacks of EIA 2020:

Here is the list of changes proposed by MoEFCC in the draft.
  • The new draft allows for post-facto approval of projects, which means industries can carry out operations or constructions even without getting environment clearances.
  • The public consultation process under the draft notification is reduced from 30 days to 20 days giving less time to the public to submit their responses during a public hearing for any application seeking environmental clearance.
  • Industries are required to submit compliance reports twice a year, which is now reduced to once a year.
  • The construction projects that need public officials examination has been increased from 20,000 sq.m to 150,000 sq.m, and the projects below 150,000 sq.m will require no inspection at all.
  • Finally, the new draft allows the government to have the authority to categorize the project as “Strategic”; Remember, when a project is announced as strategic, the government shall disclose no information to the public.
It is important to note that even though it is national legislation, it was only published in Hindi and English and not in any other local language. The Delhi High Court did order for translated copies of the draft in other scheduled languages, which has not been done yet. This clearly excludes local communities from public participation as they can not file objections if they cannot understand it.

What will happen if this draft becomes an Act?

If this proposed draft becomes an Act, then you are no longer allowed to ask questions about any industrial activity that takes place in and around your surroundings. Recently, everyone would have heard about a gas leakage industrial accident that occurred at the L G polymers chemical plant near Visakhapatnam. 


This incident took place since the company did not have a legitimate environmental clearance certification issued by the Ministry of Environment, Forest, and Climate Change (MoEFCC) until 2017. Incidents like this may occur at your surroundings too, and as per the new draft, the public is not supposed to ask questions, or they can not file any complaints against such issues.

What can you do as a public against the draft?

The Delhi High court has clarified that the last day to send in objections against this draft notification should be on or before August 11. To safeguard our environmental properties and to have a better eco-friendly future, we should raise our voice against the bill by spreading this news to everyone especially to the people who are inaccessible to information about EIA 2020 draft


You can also write up an email to the concerned ministry, by directly clicking on the link below, which has a predefined template and you just need to add your Name to the end of the template (Kindly open this link in a mobile browser, to get the template reference).




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