Editorial

Editorial

Overbooking flights

Given the deep mess that United Airlines created for itself after a passenger was dragged off a full flight last week, Delta said it could increase the incentives for “voluntary denied boarding.” Agents will now be allowed to offer up to $2,000 to entice passengers to give up their seats, significantly more than the previous limit of $800. If that doesn’t work, the agents’ supervisors can authorise payments of almost $10,000.

Let Farmers decide

This year brings new hope for farmers, who continue to hope that India will benefit from monsoons and strengthen the agricultural diversity of regions with good output. Like our counterparts in other countries, Indian farmers have evolved over the years and adopted new techniques and adapted themselves to science based farming methods to overcome various farm challenges to innovate and improve their farm productivity.

India definitely shining

The Indian equity market (Nifty) delivered 19 per cent returns in FY17. This was after a decline of 9 per cent in FY16. Over last 24 months, the index has come back full circle, crossing 9K after first touching that level in March 2015. The Mid-cap index has delivered 35 per cent returns in FY17. FII flows had a good recovery at $7.8 bn in FY17 (outflow of $1.5 bn in FY16), while DII flows were healthy at $4.5b ($12.1b in FY16).

Rs 2,240 cr bank fraud unearthed

The CBI on Wednesday arrested four directors of Delhi-based Surya Vinayak Industries (SVIL) for allegedly defrauding a consortium of banks, including Punjab National Bank (PNB), of Rs 2,240 crore.
Sanjay Jain, Rajiv Jain, Rohit Chaudhary and Sanjeev Agarwal have been arrested on PNB's complaint, CBI sources said.
The unlisted private firm, whose business interests range from perfume to mining, is one of the prominent groups that have defaulted or allegedly perpetrated big bank loan frauds in the country.

Make EVM foolproof

The aspersions cast on the electronic voting machines (EVMs) go a long way back to the year in which it was first employed. It was the bye-election of Parur Assembly constituency of Kerala in 1982 and the EVMs had been installed in 50 polling stations. Consternation rose the minute the result was announced. Of six candidates, Sivan Pillai of the Communist Party of India came out on top securing 123 votes more than AC Jose of the Congress (A) Party.

The clarion call of Kashmir

The outcome of bypolls is often not considered to be a reflection of larger public sentiment. It might be true for the rest of the country but not in Jammu and Kashmir where the bullet overshadowed the ballot in Srinagar on Sunday. The low turnout, unprecedented even by the standards of the valley, reflects that Centre’s Kashmir policy has been caught in a vortex of uncertainty.

The Chinese soup

China has declared that New Delhi has “severely damaged China’s interests and China-India relations” in permitting the Dalai Lama to visit Tawang. Considering this is the seventh visit of the Dalai Lama to Arunachal Pradesh, it is only a mark of the current poor state of the Sino-Indian relations that we are hearing such rhetoric. New Delhi is not too bothered since the Modi government appears to be needling China deliberately in the past year.

Why rivers can’t be persons

Since its inception it was intended that the organs of state in independent India will play an active role in all aspects of life. The country was founded on the principle of being a welfare state, but in the past few years the zeal with which lawmakers and judges have continuously waged a battle on individual freedom and liberty has reached new heights. From right to work to right to food and now the utterly bizarre notion of right to internet. The Indian state is determined to give freebies to a vast section of the population at the expense of their hard working citizens.

How RBI played it safe

The first monetary policy in this new financial year had a different preoccupation, and by some accounts, an interesting pre-occupation. Pre policy consensus among economists and the markets was that there were going to be no rate cuts this time. All eyes were on how the RBI would view the excess systemic liquidity and what actions they would take.

Women of today

The idea that the metropolis defines behaviour and expectations is a sociological fact. People come to the cities for work and over two or three generations, they see it as their home. They may or may not own property. They feel that this is where they belong. The headiness of the city lies in what David Émile Durkheim, a French sociologist, social psychologist and philosopher, referred to as volume, density and heterogeneity. In the metropolis, there is an air of continuous excitement. Things are always happening and the anticipation of events keeps the weekly calendar packed.

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