Editors Column
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.
Multiple factors seem to have stumped India’s famed IT industry, where layoffs stare at it in the face like never before. Reports emanating from information technology hub Bangalore do not signal optimism for a vast chunk of the country’s over four million IT professionals toiling across time zones and geographies.
INDIANS haven’t benefited due to the secular downturn in coal and crude prices over the last couple of years. Most distressing is the fact that fuel costs that reflect in variable costs of power tariff do not even tend to look southwards while consumers globally have made merry over the last two years as they forked out less on electricity consumption.
Forecast of over 100 per cent rainfall made by Indian Meteorological Department on Tuesday could serve as fresh dose of adrenaline to put the economy, markets and agriculture in the stratosphere this fiscal.
Monsoon-induced economic exuberance could also give a big boost for prime minister Narendra Modi’s plans on the drawing board to tweak policies ahead of his bid for a second term.
It is no small irony that at least four former and serving chief ministers have been charged for allegedly resorting to corruption of gigantic proportions. The long arm of law, it appears, has finally caught up with Lalu Yadav, Bhupinder Singh Hooda, Virbhadra Singh and Arvind Kejriwal, coincidentally around the same time.
Nearly eight weeks after the finance minister first mentioned it in passing, the government last week came out with an ordinance, which gave additional powers to the RBI in dealing with banks for resolution of non-performing assets (NPA) in a time-bound manner.
The launch of GSLV-F09, carrying the GSAT-9, described by prime minister Narendra Modi as a priceless gift to South Asia marks a big step forward in the nature of diplomacy in this region. The South Asian satellite, as it is called, that has been dedicated to six other countries must become the first step towards regional integration.
As Kashmir teeters on the brink, the Indian Army is once again at the vanguard of the clean up operation. On Thursday, cordon and search operations (CASO) were unleashed after many years in the volatile south Kashmir region. The massive operation is akin to a house-to-house search after cordoning off large swathes. The army leads these operations with the Rashtriya Rifles in pole position.