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Wednesday, 18 January 2017
The Raisina Dialogue is an annual conference held in New Delhi, envisioned to be India's flagship conference of geopolitics and geo-economics.
The conference, organized like the Shangri-La Dialogue in Singapore, is held jointly by Ministry of External Affairs, India and the Observer Research Foundation (ORF), an independent think tank based in India.
Its inaugural session was held from March 1 through 3rd in 2016. The conference name comes from Raisina Hill, the elevation in New Delhi, which is the location of both the Government of India as well as the presidential palace of India, Rashtrapati Bhavan, which inspired the design of the conference symbol.
The theme of the first dialogue was "Connecting Asia" which tries to capture the various facets of these ambition.
This conference is structured as a multi-stakeholder, cross-sectorial conclave, involving policy and decision makers, including cabinet ministers from various Governments, high-level Government officials and policy practitioners, leading personalities from business and industry, and members of the strategic community, media and academia.
The wealth effect is a psychological phenomenon that causes people to spend more as the value of their assets rises.
The premise is that when consumers’ homes or investment portfolios increase in value, they feel more financially secure, so they increase their spending.
Conversely, when consumers see the value of their homes or portfolios fall, they tend to spend less. The wealth effect attempts to explain why consumers might change their spending habits even if their income and fixed costs have stayed the same.
Changes in aggregate demand caused by change in the value of assets such as stocks, bonds, gold, property. Increase in the market value of these assets induces a feeling of being 'richer' in their owners (even if no additional cash is realized) and often tends to encourage spending and to dampen savings.