By Ruma Dubey

2016 is gone and 2017 is in. All the partying is over, maybe the hangover still persists…..

For many, 31^st December is just the end of a month and the beginning of a new month. Yes, it means a change in the year but that’s something which has no real impact on our lives. The habits, traits, characters, routine which we had on 31^st are what we continue to have even today. Thus spiritually or philosophically speaking (spirituality is the science of philosophy) this “new year” has no significance. But because we live and work in a material world, we need to follow a few rules and ways of the world; so in that context, 2017 is a new year and it brings forth hope in the mind that things will pan out much better than they did in 2016.  

As we step into 2017 with new optimism, there are few world events, which could have a bearing on the world around us; not directly but as a causation of living in a flat, globally connected world.  A quick look at the calendar of 2017. We do not need any exotic looking gypsy who will till us in an ominous voice about what lay ahead for us in 2017. These are world events, already scheduled to happen. So mark these events….

More than looking at just within India, we are looking at major events across the globe as those have an equal if not bigger impact. As per the Chinese, 2017 is the year of the rooster. It represents a new dawn and awakening, and will be marked by success and success as a result of work Hard and patience; in this new period nothing comes by chance or luck.

• There are three elections slated in the EU next year - the Dutch election will be held on 15^th March, the first round of the French Presidential election on 23rd April, and the German general election in September. There is a reasonably good chance that Italy will also have elections, though the parliament session does not officially end until 2018.

• General elections will also be held in Norway and the Czech Republic, presidential elections in Hungary and Slovenia and local elections in Portugal.

• Britain is still in the turmoil of its Brexit decision and there are local elections in the United Kingdom that could be dominated by the referendum's aftermath. January, the Supreme Court will decide whether or not Thresa May can evoke Article 50, launching Britain's two-year EU exit, without a vote by MPs.

• In India, five major states have an election scheduled – UP, Goa, Uttarakhand, Punjab and Manipur.

• A new administration in USA will formally take office on 20^th January, but Trump's impact is already being felt. Watching Obama go could be an emotional moment for many, especially given the fact that Trump will take his seat!

• May 19^th, Iran will elect its President and existing President Hassan Rouhani is standing for re-election.

• 2016 saw the tail end of El Nino. In 2017, we can expect a weak La Niña, a natural cooling of Pacific Ocean waters. This is likely to bring above average rainfall and cooler temperatures across much of the globe.

• In China, towards the end of the year, the key seven-member Standing Committee is set for a complete overhaul with only President Xi and Premier Li holding on to their posts for a second term, which has become customary in China.

• The 43rd G7 summit will be held on May 26–27, 2017 in Taormina, Sicily, Italy.

• The much touted oil production cut by OPEC and non-OPEC countries will kick in from January 2017. It could show a knee jerk price rise but shale and oil production in USA is expected to keep the prices capped below $60/barrel for the year.

• For the first time, the Budget will be presented in India on 1^st Feb 2017, ending the colonial-era tradition of presenting it on the last working day of February.

• Migration will continue to remain a big issue in 2016. In Europe, it will continue to provoke conflict between the left and the right, between those who see all migrants as refugees and those who suspect there is an economic motive in play.

• As China was the main source of demand for the basic building blocks of the global economy, analysts expect commodities to remain soft in 2016. Chinese economy too will continue to remain in the second gear.