Editors Column
Collaborative pursuit of Asia–Africa growth corridor in partnership with Japan is significant in more ways than one. For one, China’s exclusion in this initiative is a message loud and clear given that president Xi Jinping has been pursuing his own dream project, One Belt One Road staking billions of dollars and his own reputation.
Zero tolerance against corruption must be the message that goes down the line with the CBI special court sentencing three top civil servants to two year jail terms in the coal scam perpetrated during the decade long UPA regime.
As reported by this paper in its Monday edition, government is unlikely to play any role in resolution of issues between banks and borrowers. It would be left to the banks to negotiate with the borrower and reach a solution on repayments of loan and haircut which banks will be taking on their existing exposure to a company.
The message is unambiguous and straight. Resist the temptation of profiteering or face action is the diktat from the Narendra Modi government. Both finance minister Arun Jaitley and revenue secretary Hashmukh Adhia minced no words on taking on profiteers after having finalised the four-band GST rates for both goods and services.
It’s a good beginning. The nationwide consensus on goods and services tax (GST) rates across 1,211 product lines and services in four tariff bands, are the first steps towards achieving, ‘one nation, one market and one tax’.
Whose baby is it anyway? Once again one hears of Air India becoming a disinvestment candidate. many such moves have been abordted in the past, so one is unsure of the airline’s fate this time round too. As long as government fetters remain, it can never become a spiffy and profitable airline.
India is well within its rights to pursue an independent nuclear power policy for both civilian use and military establishment if the global powers continue to block its membership into the nuclear suppliers group (NSG).
Narendra Modi government’s pro-active campaign against politics of corruption is not just aimed against opposition politicians that have cried foul and accused the centre of political vendetta but is in sync with his larger vision of probity and integrity in public life.
The current bull phase in Indian equity market is six months older to the current NDA government, which completes three years in power this week. The reason why it is older is that it started with the BJP winning state elections in early December 2016. Three years down the line, all segments of the capital markets are robust and are rewarding stakeholders.
First, it was the gross domestic product (GDP) and consumer price index (CPI). Now, the two vital economic indicators, index of industrial production (IIP) and wholesale price index (WPI) have been recast to better reflect the economic performance and realities.