Editors Column

From the ignominy of carrying the backward tag to targeting a trillion dollar economy, Uttar Pradesh has its task cut out, as the ongoing investors summit in the state capital has indicated. There is little doubt that chief minister Yogi Adityanath will need to muster all his yogic powers to achieve this task.

The commercial exploitation of coal has come full circle after its mining was nationalised beginning May 1, 1973. The Narendra Modi government’s decision to allow private companies commercial exploitation rights is a significant reform measure in the Indian energy sector that is starved of cost-effective quality coal.

An analysis of the government’s performance on employment generation depends on the set of figures one would consider for the purpose.

Whether it is the Harshad Mehta scam of 1992 or the Ketan Parekh scam of 2001 where money from a co-operative bank found its way into the equity market, it is usually a scam that prompts policymakers and regulators to review banking processes and, thereafter, bring in a fresh set of rules and regulations to prevent another scam.

The prognostication that future wars will be fought over water implies the stark reality that water is a scarce and depleting resource and its conservation should be the key issue in inter-state water disputes.

The $1.8 billion fraud perpetrated by the billionaire diamantaire, Nirav Modi, his maternal uncle Mehul Choksi and the clan at Punjab National Bank (PNB) has shaken the public confidence in the Indian banking system.

It is a wake-up call for peddlers of toxic content online. Top brands have let their displeasure known about unregulated and unfiltered content that appears alongside their advertisements on online portals.

There is well-founded nervousness over protectionism coming in through the back door in the name of prime minister Narendra Modi’s signature ‘Make in India’ campaign. Add to that fears that, like the US administration under Donald Trump, India is throwing a protective cover around domestic manufacturing with the avowed objective of expanding local industry.

The government’s initiative to resolve bad loans is going nowhere. Whether the National Companies Law Tribunal (NCLT) or other schemes, there is hardly any movement towards punishing the wilful defaulters or providing relief to companies whose businesses have gone under due to difficult market conditions.

Governance issues have hit Indian companies over the years. Several promoters have misused investors’ funds to their personal advantage and hugely profited as a result.