Editors Column

The Supreme Court decision to allow consumers of e-commerce companies to file legal complaints in their own city, rather than going to a city where the seller is located or registered is a welcome move. This decision by Supreme Court will go a long way in protecting the rights of consumers who had been taken for a ride for many years by both large companies and their re-sellers.

Bringing about transparency in fund flow from corporates to political parties is the biggest challenge for all stakeholders in Indian democracy. While we have been very exuberant about India’s journey over the last 70 years post-Independence, India’s political system continues to reek of opacity and the parties are unwilling to subject themselves to public scrutiny.

It doesn't say much for the best practices and corporate governance standards in bellwether - Infosys - that the founders who are also minority investors can bring a CEO down. Equally, the powerful founders led by N.R.

Yet another major fraud in our stock markets has come to the fore as a major chunk of 1.1 million duplicate Pan cards deactivated by income tax department belonged to market players.

Faster deceleration in economic growth is staring in the face for the Narendra Modi government. Finance minister Arun Jaitley needs to brace up to report around seven per cent growth for this financial year.

These are the possibilities and concerns flagged by the economic survey’s second volume presented by him to the Parliament on Friday, the last day of monsoon session.

The coming together of two rival AIADMK factions led by chief minister K Palanisamy and his predecessor O Panneerselvam is good augury for Tamil politics, for they have closed ranks against the interloper. After the death of J Jayalalitha, it is to their advantage that the all-powerful Mannargudi mafia’s influence is removed from the party set up.

For years now circular trading through shell companies has been the norm rather than the exception in Indian stock markets. In rising markets, cats and dogs, as they are known, rose alarmingly as the rising tide lifted all boats. Oblivious to the regulator, punters made their money. But hapless investors following hot tips in small caps often found themselves trapped when the bubble burst.

Humility needs to be a permanent virtue especially for those in the corridors of power. And, finesse in strategising and implementing a backroom plan on the ground must be second big trait that needs to be assiduously cultivated by those in power politics. The art of war should never be confused with the fog of war, for realpolitik always triumphs in the end.

This is time for a mini celebration of sorts. India should actually be proud of taking a definitive step towards evolving as a tax compliant society.  Finance ministry data released on Monday clearly demonstrates that about 5.6 million or 56 lakh more people have paid taxes and filed income tax returns in their bid to bring about a semblance of transparency in their personal dealings.

Sin tax of 28 per cent was acceptable on luxury items under the goods and services tax (GST) that became operational on July 1. On top of it, levying 15 per cent cess as part of revenue mobilisation drive to compensate states was also reconcilable.

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