Columns

By: Ajit Ranade
Category: Common citizen, Governance, Inequality, Sustainability, Taxes, Union Budget, India politics, Indian economy, Inclusive growth, GST
These days there is much hand wringing about the unfair treatment of the southern States in their share of tax resources of the nation.  For the moment, leave aside the fact that this controversy gets much of its fuel from the current election and campaign rhetoric. So let’s focus on the... read more
By: Dr. T.M. Thomas Isaac
Category: Common citizen, Governance, Inequality, Taxes, Global, RBI, Jobs, India politics, Indian economy, Inclusive growth, GST
In India, the Union Finance Commissions appointed under Article 280 of the Constitution after every five years is the institution for recommending the vertical division of resources between the Centre and State as well as the horizontal distribution of the devolved resources between the States. In... read more
By: Chetan Dalal
Category: Common citizen, Governance, Inequality, Global, RBI, India politics, Indian economy
The nation can afford nothing less than a full-fledged and transparent account of the letters so issued, the liabilities they raised, how many of such liabilities are still outstanding and how many of them stand extinguished and how. This is, in short, a fit case for a forensic audit across banks.... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Governance, Inequality, Global, RBI, India politics, Indian economy, Inclusive growth
The RBI Governor, Urjit Patel, speaks of the “anger, hurt and pain at the frauds and irregularities”. For once, he puts it plainly: “…these practices amount to a looting of our country’s future by some in the business community, in cahoots with some lenders.” And he adds: “…we are doing all we can... read more
By: Jagdish Rattanani
Category: Common citizen, Governance, Philanthropy, Jobs, India politics, Indian economy, Inclusive growth
Within a year, HLL was reporting losses for the first time in its history, sending a worried Chairman straight to New Delhi to lobby with the powers that be. This was to no avail, and the CEO was told to just grin and bear it in the cause of the nation and to help fight the huge spike in inflation... read more
By: Ajit Ranade
Category: Common citizen, Governance, Inequality, Sustainability, Taxes, Jobs, India politics, Indian economy, Inclusive growth
On March 6, more than 10,000 farmers set off on a silent march from Nashik to Mumbai. This march was called by the Akhil Bharatiya Kisan Sabha. Their main demand was transfer of land to farmers as promised under the Forest Rights Act (FRA) of 2006, better prices for their crops, and granting of... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Governance, Inequality, RBI, India politics, Indian economy, Inclusive growth
We must not forget that the RBI has a seat on the PNB board. In any case, the supervisory machinery by RBI should have caught on to this mismatch across the banking system. If they have not been aware of such a high magnitude of transaction happening repeatedly, then the whole supervisory machinery... read more
By: Arun Maira
Category: Common citizen, Governance, Inequality, RBI, Jobs, India politics, Indian economy, Inclusive growth
It is unlikely that the conversion of publicly owned enterprises into privately owned ones will, by itself, reduce the rot in enterprises. The fundamental problem is in the design of the enterprise, regardless of who the owner is. Ideologies of public versus private cloud the clarity required to... read more
By: Jagdish Rattanani
Category: Common citizen, Governance, Inequality, Global, Jobs, India politics, Indian economy, Inclusive growth
No amount of effort will yield results when the mind is beset with all the wrong notions and ideas, aired freely and frequently with no one to check the wild and the wayward. Till that happens, the only face of change will be Hema, Rekha Jaya and Sushma made to look better in ads that seem smarter... read more
By: Vappala Balachandran
Category: Common citizen, Inequality, Global, Jobs, India politics, Indian economy, Inclusive growth
The huge crowd of Indians at the Sultan Qaboos Stadium or at Dubai Opera House would have liked the Indian PM to detail his government’s steps for ensuring better job security in host countries or setting up a Philippines model of insurance for migrant workers through home legislation rather than... read more
By: Ajit Ranade
Category: Common citizen, Governance, Inequality, RBI, India politics, Indian economy, Inclusive growth
In India, banking contributes to more than three-fourths of the funding needs of the economy. Indeed, most of the personal financial savings of the people are also parked in banks. And more than 70 per cent of banking is in the public sector that is majority-owned by the government of India. Hence... read more
By: Chetan Dalal
Category: Blackmoney, Common citizen, Governance, RBI, India politics, Indian economy
“Our messaging, standards and services connect you to your counterparties worldwide, so you can transact securely and reliably.” So reads the home page of SWIFT, the secure messaging system that has been used by Nirav Modi and his associates within and outside the Punjab National Bank (... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Governance, Inequality, Global, RBI, India politics, Indian economy, Inclusive growth
The question that must be asked is this: Is our money safe in banks? How and why should Indians believe in anything that is reported by the bank managements, their supervisory boards, regulators and auditors if big bombs like this can be concealed and go unnoticed, ticking away quietly in the... read more
By: Ajit Ranade
Category: Common citizen, Inequality, Taxes, Union Budget, RBI, India politics, Indian economy, Inclusive growth
There are many positive features of the Union Budget presented on February 1. First, there is great expenditure restraint. The total spending is budgeted to be up by 10 per cent even as national nominal income is estimated to rise by more than 11 per cent.  The second positive is a reform... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Governance, Inequality, Sustainability, Taxes, Union Budget, India politics, Indian economy, Inclusive growth, GST
The Union Budget 2018-19 has in many ways dishonoured prudent fiscal management and thereby has bid goodbye to the idea of fiscal governance. First, the revenue deficit target has been done away with in the proposed new FRBM architecture.  This is a body-blow to one of the biggest reforms that... read more
By: Himadri Bhattacharya
Category: Common citizen, Global, Union Budget, RBI, Jobs, India politics, Indian economy, Inclusive growth
Clearly, in the hierarchy of preference of MPC, the need to support growth and investment ranked higher than the necessity of curbing inflation expectation. Be that as it may, it is doubtful if this decision is consistent with MPC’s objective of achieving medium-term target for CPI between 2% and 6%
By: Usha Thorat
Category: Common citizen, Global, RBI, India politics, Indian economy
The real challenge for debt management will be to ensure that yields are not pushed up unduly, as this would have an impact on borrowing rates all around. The transmission of lower interest rates is usually much slower and an increase in lending rates all around would not augur well for growth.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Global, Union Budget, RBI, India politics, Indian economy, Inclusive growth
The Monetary Policy Committee (MPC) of the RBI at its last sitting for the current financial year and the first meeting after the Union Budget has decided by a majority vote (5 to 1) to keep the policy repo rate unchanged at six per cent. One member voted to increase the rate by 25 basis point.
By:
Category: Common citizen, Governance, Taxes, Global, Union Budget, RBI, Jobs, India politics, Indian economy, GST
The Prime Minister now faces a Modi moment. India needs leadership to reach out and honestly attempt a rainbow effect of people policies, irrespective of political parties. To achieve this, we need inclusiveness and accommodation, which can come out of actions as well as body language.
By: Saugata Bhattacharya
Category: Common citizen, Global, Union Budget, RBI, India politics, Indian economy, Inclusive growth, GST
The good news in this is that the synchronised global recovery and the lag in the conservative monetary policy response is likely to make the “risk-on” investor sentiment persist, thereby keeping capital flows to the most attractive global destinations active, and providing risk capital.

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