Articles: 2016

By: Ajit Ranade
Category: Common citizen, Union Budget, India politics
A slew of financial sector measures can be announced, which will lead to the deepening of the sector. Bank consolidation must also be pushed. It may be a good idea to give some relief on personal income taxes as well, but in a way that does not significantly deplete the tax net.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, RBI, India politics
Apart from flagging concerns on inflation, the central theme of the minutes is the lack of transmission of repo rate cuts. The transmission of monetary policy is critical to ensure an appropriate interest rate regime which will be conducive to reinvigorating the real section and promoting growth.
By: Ajit Ranade
Category: Common citizen, India politics, Inclusive growth
The Mahatma Gandhi National Rural Employment Guarantee Scheme, popularly known as NREGA, was launched after the passage of the landmark Act of the same name in 2005. It is the largest such employment based anti-poverty programme in the world. As the name suggests, it guarantees gainful employment... read more
By: Usha Thorat
Category: Common citizen, RBI, Indian economy
In the backdrop of an imminent Fed hike, the global uncertainty, as also the difficulties in assessing the macro –economic impact of demonetisation on the domestic economy, the MPC members –all six of them - have unanimously chosen to wait and watch and not make any changes in the repos rate.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, RBI, Indian economy
Instead for harping on cuts, the banking sector might be well advised to handle the complexities arising in the near term out of liquidity and the concomitant impact on deposits and lending rates, but most of all the challenges that still remain on account of large NPAs in the system.
By: Aneel Karnani
Category: Common citizen, India politics, Inclusive growth
The CSR law is inherently contradictory. Without a coercive enforcement mechanism, it is unlikely that the law will result in widespread compliance. In other words, ‘required’ CSR will remain largely voluntary, but give the illusion of progress. This is ‘greenwashing’ on a national scale.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: RBI, India politics, Indian economy
Rarely has this 80-year-old institution been in the headlines almost daily, with questions, doubts and clarifications being sought by a harried citizenry and answers flowing only in fits and starts, more to cross a new hurdle or fix a creeping problem rather than as a cogent policy announcement.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: RBI, India politics, Indian economy
The priority now should be to restore normalcy by smoothening the process of liquidity management and more importantly, enhancing the currency note availability and removal of weekly and daily restrictions on withdrawals. Currently, the business environment is not encouraging as confusion rules.
By: Ajit Ranade
Category: RBI, Indian economy
The rupee needs to soften, because measured in real effective terms, i.e. adjusting for inflation differentials, and by taking a trade weighted average, it has been highly overvalued. This is called the overvalued real effective exchange rate of the rupee. This affects our exports negatively.
By: Arun Maira
Category: Jobs, India politics, Inclusive growth
Jobs cannot be sprinkled into the economy by the government. Jobs will emerge from interactions of many drivers in the economy—the growth of enterprises, life-long learning systems and social security, as well as the quality of physical infrastructure and the ease of doing business.
By: Vappala Balachandran
Category: China-India, Global, India politics
It is unfortunate that the “Heart of Asia” Conference is getting enmeshed in the present tension between India and Pakistan. More attention is now on whether Sartaj Aziz, the de facto foreign minister of Pakistan, will attend the conference, hold bilateral meetings or raise the Kashmir issue.
By: Jagdish Rattanani
Category: Blackmoney, Common citizen, India politics
The finance minister’s statement that it will take two to three weeks to re-calibrate ATMs and that people must have patience, when what we see around us is people losing their dignity every day, is a perfect picture of officialdom represented by that classic ballad: andher nagri, charbat raja.
By: Vappala Balachandran
Category: China-India, India politics, Indian economy
In a dynamic world, ideas of isolation may not be the best way to either build ties or contain threats. Instead, there is a case that can be made out that India in itself could be poorer because it will lose a convenient multilateral forum to defuse tensions as has been often done in the past.
By: Ajit Ranade
Category: Blackmoney, Common citizen, India politics
The government should have focused not just on old stock but future flow of black money generation. Hence high value notes should have been removed from circulation. Unfortunately that’s not exactly the intent of the PM’s current blockbuster initiative. To that extent, this is a missed opportunity.
By: Arun Maira
Category: Common citizen, Global, Inclusive growth
People trust those who listen to them, rather than those who, from high velvet lined pulpits, preach to them. Corporations want governments to get out of their way. To win trust, they must change their business ways to improve the world for everyone, not only for investors in corporations.
By: Usha Thorat
Category: Blackmoney, Common citizen, RBI
If 20 per cent of old notes do not return by March 2017 to RBI, the move would have impacted Rs 300,000 crore of black money in the form of cash. But the cycle can start again unless concerted measures are taken to address the problems of unaccounted money in property gold and forex transactions.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, India politics, Inclusive growth
As the RBI annual report of 2015-16 notes: “Central banks worldwide adopt standardised practice of upgradation of security features of bank notes to stay ahead of counterfeiter.” The RBI and the government have clearly not done so for years, and the common man is now being asked to pay the price.
By: Himadri Bhattacharya
Category: Blackmoney, Common citizen, India politics
The demonetisation announced on November 8 is by all means one of the rare, bold economic policy decisions witnessed in the history of independent India. It is clear that that a good bit of planning and preparation involving the ministry of finance and RBI were completed beforehand.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Indian economy, Inclusive growth
The bitterness of the US election as also the anti-women and ugly remarks of the GOP nominee Donald Trump, who eventually won the race to the White House, is in itself a reminder of the prejudices at work in what is considered a leading developed economy and the most powerful democracy.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Global, Jobs, Inclusive growth
Women account for nearly 50 per cent of world population but account for only about 41 per cent of the formal work force. Women’s earnings globally are estimated to be on average 77 per cent of men’s earnings and the magnitude of the wage gap varies significantly by economy, sector and occupation.

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