Editors Column

Downgrade in bonds of DHFL and subsequent reaction of financial markets clearly indicates that one particular segment of financial markets, Non- banking finance companies (NBFCs), may once again coming under pressure.

As fine print of Narendra Modi–Piyush Goyal budget is sieved, it only emerges that there’s hardly any fudging of figures as claimed by opposition parties and a section of analysts.

Neither was there any impropriety involved in presenting direct tax proposals and farmers income support announcement that together have an implication of about Rs 100,000 crore.

Finance Minister Piyush Goyal prefers to call it interim budget. It’s beyond the usual vote on account and annual financial statement presented in an election year like this. Goyal’s maiden show within Lok Sabha and outside was impressive.

Apart from presenting the performance report card, President Ramnath Kovind’s Presidential address in Parliament on Thursday also reflects fresh thinking within the ruling establishment on its agenda for the next five years.

Finance Minister Piyush Goyal will have to do tight rope walking to present credible budget numbers when he unveils the interim budget on Friday.

Has Narendra Modi government been able to make a big dent into tackling poverty over the last four and a half years? Well, NDA regime feels it has been able to achieve a lot by leveraging technology, plugging the loopholes in governance and empowering people to earn their living with honour.

In 2008-09, India Inc had faced some real tough times in the aftermath of global finance crisis that had contagion effect on emerging markets. Several companies declared their financial condition that turned out to be far worse than what they claimed earlier.

Inability to rollover debt with banks and IL&FS fall have been cited as twin issues for the financial mess multi-billion dollar Essel Group has landed itself into. Its chairman Subhash Chandra, the media baron admitted to not being able to rollover the banks’ debts especially after prompt corrective action (PCA) and insolvency, bankruptcy code (IBC) became operative.

The financial market has this uncanny ability to spring negative surprises. No amount of bitter experiences of the past could stop players in the market from slipping into the dirty pit again.

Grand Old Party (GOP), Congress is going gaga. Formal entry of Priyanka Gandhi Vadra with battle gear as party general secretary and ‘jugal bandi’ with elder sibling Rahul Gandhi is expected to electrify the Congress campaign in politically key state, Uttar Pradesh.

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