Editors Column
Surprisingly enough, the money policy committee headed by Reserve Bank of India (RBI) governor Urjit Patel had not much to say on reviving credit growth that has touched a historic low of 4.4 per cent in the last financial year.
Farm loans worth Rs 36,359 crore waived by Yogi Adityanath government in Uttar Pradesh is significant in more than one ways. Most analysts emphasised the political importance of this decision taken by the newly elected BJP government at its first cabinet meeting after the resounding victory in recent polls.
It’s rarely that finance ministers meet tax revenue mobilisation targets set in their budgets. Virtually there’s no precedent in recent times when a finance minister not only exceeded his budget estimates but also achieved revised targets that were higher than initial estimates.
The skirmish between founders of Infosys and the current management team seems to be turning into quarterly affair, much like quarterly results. Coming as they are with unerring regularity.
Will restrictions on liquor vends, termination of bar licences for hotels and restaurants on highways stop the road rage and minimise the number deaths in fatal accidents? Is the Supreme Court directive to close down all liquor sale and consumption on highways workable? What’s the best way to balance out some free leisure time mid-way on a long winding journey while keeping the roads safe?
Profiteering and unfair pricing of products and services has been an issue with many companies across sectors in this country. From providing education by private institutes, selling cardio-vascular stents at abnormal rates to jacking up onion prices in the aftermath of an inadequate monsoon or unseasonal rains, profiteering has been prevalent in India.
Automobiles, commercial vehicles and two-wheeler manufacturers have no alternative but to comply with the Supreme Court directive of not selling BS-III-compliant vehicles from this Saturday. What is worse is that they knew it was coming, but opposed it nonetheless. This is another leg up for the apex court, which has decided positively in favour of public health.
Aadhar number and cards enrollment is a sovereign exercise undertaken by the Centre over the last 10 years to essentially capture the socio-economic development parameters based data of India’s 1.24 billion people. There have been big critics of Aadhar numbers and cards.
Hoarding cash in huge amounts should perhaps be made a punishable offence in India. This should also be applicable to state-run companies that complain of government squeezing out huge dividends year after year. The story dates back to penultimate year of UPA’s second term headed by Manmohan Singh with P Chidambaram as finance minister.
The biggest issue that flummoxes small investors is why did the securities market regulator, Securities Exchange Board of India (Sebi), take ten long years to nail Mukesh Ambani-led Reliance Industries (RIL) for fraudulent trades in cash segment of equity derivatives relating to its erstwhile subsidiary, Reliance Petroleum (RPL)?