Editors Column
Noose seems to be tightening for black money hoarders. As Narendra Modi government’s campaign ‘operation clean money’ enters its penultimate phase, chips seems to be down for several fraudsters that have evaded taxes, made illicit money and piled up assets in every possible form.
From anti-Romeo squads, Durga Vahinis to formation of a separate force against street-side romantics, the BJP government’s campaign against molesters and eve-teasers has invited mixed reaction from the people.
Insulating consumers of petroleum products from global price movements in crude may be a thing of the past. The Narendra Modi government’s move to link diesel and petrol prices to that of crude oil movement in international markets allowing revision every day is significant in more ways than one.
Supreme Court directive not allowing Tatas and Adanis to pass on the hugely incremental fuel costs to consumers by enhancing power tariffs is a step in the right direction. Tatas, Adanis or for that matter, no Indian or foreign company has the right to pass on excess fuel cost load to consumers in gross violation of their contractual agreements with state agencies.
When noted Hindi poet and writer, Harivansh Rai Bachchan wrote the eminently popular 135-verses treatise Madhushala, he may have never imagined that the tavern culture of a relaxing evening drink would end so abruptly and dramatically.
In 1990, VP Singh government had announced a farm loan waiver scheme and the exchequer had to bear a burden of Rs 10,000 crore. In 2008 February when the UPA government announced a farm loan wavier, it cost Rs 71,400 crore all told and was supposed to help three crore marginal farmers.
Life has come full circle for companies wanting to access long term low cost funds. Reserve Bank of India’s (RBI) move to set up Wholesale and Long Term Finance (WLTF) banks would effectively mean the return of Development Finance Institutions (DFIs) from the past.
Unraveling secrets of the brain has turned out to be the biggest fascination for the scientific community globally. And, the latest in a series of scientific finds was that sleeplessness in elderly people led to physical disorders like Alzheimer’s disease.
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.