Editors Column

THE recommendations of prime minister’s economic advisory council, headed by Bibek Debroy, not to drift away from fiscal consolidation is a sane advice for Narendra Modi’s dispensation.

Prime Minister Narendra Modi’s meeting with top global energy companies chief executives on Monday is significant in more ways than one.

There cannot be any argument against the fact that regulations, which govern classification of mutual fund schemes, were long overdue for an overhaul.

UNDER sustained pressure, Goods and Services Tax (GST) has been overhauled and the council headed by finance minister Arun Jaitley has made life somewhat easier for exporters, small businesses and consumers alike. There’s no reason why they shouldn’t begin rejoicing right away while Diwali is still a few days away.

Corporate governance continues to be a burning issue at several listed companies with substantial retail investors’ participation. In the recent past, we have seen soap operas play out at the Tata Group, Infosys and Raymond. The Uday Kotak-led panel set up by Securities Exchange Board of India (Sebi) has rightly proposed norms that in many ways are sweeping and could be game changing.

Should one-quarter dip in gross domestic product (GDP) by any measure lead to outrage amongst key stakeholders? Given that structural reforms like goods and services tax (GST) and linking fuel prices to market are arduous, protracted and painful, such outbursts may be misplaced to an extent.

Finance minister Arun Jaitley is the warrior who is fighting to turn the tide on the economy. It will now be purely Jaitley’s call to deploy all fiscal instruments at his command to bring the growth momentum back on track given that RBI refused to play ball on interest rates, but did somewhat ease the liquidity play.

Most distressing are the continuing reports of job losses and not additions in several sectors spread over last three years. If these accounts are to be believed,  from textiles, banking, infrastructure, information technology to capital goods, job losses have apparently become rampant.

Mass murders are common in the United States but the killing of 50 people by lone wolf Stephen Paddock has gone down as one of the worst incidents of public massacre in modern American history. More than 400 were injured when Paddock sprayed the crowd of around 22,000 in an outdoor country music festival in Las Vegas with a rapid-fire barrage of bullets.

RSS chief Mohan Bhagwat has not bared his fangs by talking about amending constitution to integrate Jammu and Kashmir with the national mainstream nor did has he shot off the cuff while stressing on tuning welfare policies to the ground realties of the country.

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