home > research channels > columns > leader talk
Expert Take
Abheek Barua & Swati Arora Download
Inflation’s Worst Behind Us? -- 12-Aug-22
The Reserve Bank of India (RBI) hiked rates by 50 basis points (bps) in its bi-monthly monetary policy on August 5, in line with its aggressive strategy over the past couple of months to tame domestic inflation.

R Chandrashekhar Download
Enhancing Digifficiency -- 12-Aug-22
Despite transformative progress made in the digital and digital payment sphere, it is continuing amid a sea of regulatory uncertainty. Rapid adoption has thrown up new policy and regulatory challenges.

Urjit R Patel Download
Practise What You Policy -- 11-Aug-22
Changing Paradigms — the new book by 15th Finance Commission chairman N K Singh, with ‘select insights’ by P K Mishra, principal secretary to the prime minister — presents the progress and the unfinished tasks of proximate developmental goals

Vijay L Kelkar & Pradeep S Mehta Download
Untangle Jurisdictions -- 11-Aug-22
Amatter of jurisdiction over regulation of ‘debenture trustees’ recently reached the Bombay High Court. The question before the court was the jurisdiction of the Competition Commission of India (CCI) over the Securities and Exchange Board of India (Sebi).

Nilanjan Mukhopadhyay Download
The Kumar Who Walks -- 10-Aug-22
Politics is quite a game. There are no permanent enemies, no permanent friends, only permanent interests. Nitish Kumar is the perfect epitome of this adage. He has been Bihar chief minister for almost 17 years

Saibal Dasgupta Download
In Dire Taiwan Straits -- 08-Aug-22
By visiting Taiwan, US House speaker Nancy Pelosi has set several balls rolling. The implications of the visit are much wider than the political rhetoric about saving a smaller democratic state from the threats posed by a large and powerful neighbour.

Saugata Bhattacharya Download
Walk the Policy Tightening Rope -- 08-Aug-22
The fulcrum of policy focus for emerging markets (EMs) central banks, including RBI, is likely to shift to the external environment, away from battling domestic inflation, even as the two are linked.

Louis Kuijs Download
Recovery On Track, Eye on Inflation -- 08-Aug-22
The list of things keeping policymakers up at night is mounting. The good news for India, though, is that its growth prospects remain largely intact. India’s policymakers should foster sustainable growth through further supply-side reforms and containment of blanket subsidies and tax cuts.

Nishant Chadha Download
DPB Is Dead, Long Live DPB -- 05-Aug-22
On Wednesday, Ashwini Vaishnaw announced in Parliament that GoI was withdrawing the Data Protection Bill (DPB) from Lok Sabha. The Bill was introduced in 2019 and had been referred to a joint parliamentary committee (JPC)

Manish Sabharwal & Rishi Agrawal Download
One Ring To Join Us All -- 05-Aug-22
Upton Sinclair wrote it’s difficult to get a man to understand something when his salary depends on not understanding it. Some banks resisted Unified Payments Interface (UPI). The poverty industry resisted Aadhaar.

Seema Sirohi Download
Hot Pot Shots in Pantsuit -- 04-Aug-22
The suspense is over, but the drama is not. Because, with China, it can be a three-act play. In one of the most tracked flights, US House speaker Nancy Pelosi, escorted by American and Taiwanese fighter jets

Indira Iyer & Soumi Roy Chowdhury Download
Connect to Spend Better -- 04-Aug-22
With close to ?28,000 per capita being spent by the central and state governments on development expenditure, sound public expenditure management is a key step towards creating long-lasting investments in human and physical capital.

Sanjeev Gupta Download
Hit the Road, and How -- 03-Aug-22
The first phase of the ambitious Bharatmala Pariyojana (BMP) is four years late. According to Icra, the first phase is now likely to get completed by 2025-26, against the original schedule of 2021-22.

Dipankar Bhattacharyya Download
Wish Upon a Falling Rupee -- 02-Aug-22
The International Monetary Fund (IMF) last week forecast the world economy would grow 3. 2% in 2022, 0. 4 percentage points lower than its April projection, dragged down by downgrades of growth in the US, China, Germany and India.

Rukshad Davar Download
‘Musk v Twitter’ Lesson -- 02-Aug-22
The ongoing dispute between Twitter and Elon Musk has brought contractual nuances prevalent in merger and acquisition (M&A) deals under the spotlight, especially the material adverse effect (MAE) clause.

Montek Singh Ahluwalia Download
Treating Our Slipped Fisc -- 29-Jul-22
India’s fiscal situation is precarious. But reducing the deficit cannot be the only objective

Neeraj Kaushal Download
Centre Calling the States Profligate -- 29-Jul-22
GoI, BJP and non-BJP states are recklessly competing on doling out freebies

Nilesh Shah Download
Create an Enabling Ecosystem to Make GIFT a Global Hub -- 28-Jul-22
The development of financial services is not only needed for financing the growth of other industries but is also a growth centre in itself.

Poonam Gupta Download
Smart Hands on the Deck -- 28-Jul-22
IMF’s latest global growth projections may not be bad news for India if it plays the right cards

Arvind Sahay & Sudheesh Nambiath Download
Goldfinger on the Pulse -- 28-Jul-22
Every once in a while, a market infrastructure institution that can achieve a sea change in the way an industry functions gets its running legs.

Ngozi Okonjo-Iweala, Rebeca Grynspan & Pamela Coke-Hamilton Download
Ride on WTO Trade Winds -- 27-Jul-22
We are in the toughest period the world economy has faced since the creation of the multilateral system more than 75 years ago.

Akshay Tripathi & Alok Tiwari Download
Tribunal To Unclog Infra Projects -- 26-Jul-22
Public-private partnerships (PPPs) have been a ubiquitous feature of the infrastructure scene for some time now. 

Shantanu Srivastava Download
How Green Are Your Greenbacks? -- 26-Jul-22
Last week, Shaktikanta Das announced that the Reserve Bank of India (RBI) will be 'coming out with a discussion paper on climate change and climate change-related risks,'

Anil Padmanabhan Download
Internet Mein Apni Bhasha -- 25-Jul-22
National Language Translation Mission’s Bhashini will accelerate internet access for all Indians

Tejesh Chitlangi Download
Give the Finabler a Friendly Push -- 25-Jul-22
In many ways, the International Financial Services Centres Authority (IFSCA) has been an unorthodox regulator. Its aims include making India a global financial business hub, conducting several financial sector reforms, and bringing offshore fund business back from places like Singapore and Mauritius.

Dinesh Takur & Prashant Redddy T Download
A Law Whose Date Has Expired -- 25-Jul-22
Earlier this month, the health ministry unveiled a new Bill to replace the Drugs and Cosmetics Act, 1940. 

Ateesh Tankha Download
Fumigate Crypto-Crawlies -- 22-Jul-22
How long — or, what — will it take the government to ban, or stringently regulate, cryptocurrency?

Vidit Aatrey Download
Turbocharging MSMEs -- 22-Jul-22
Turbocharging MSMEs

Shriya Anand & Gautam Bhan Download
Imagine an Urban MGNREGA -- 21-Jul-22
An urban employment programme should not be just about wage and work but about skilling too

Dipankar Bhattacharyya Download
Gambling Not the Name of the Game -- 21-Jul-22
The issue with taxing casinos, horse racing and online gaming, which the Goods and Services Tax (GST) Council has tasked a group of state ministers (GoM) with, is the treatment of actionable claims that creditors have on debtors.

Peter Swire Download
The Irony in Localising -- 20-Jul-22
The report of the joint parliamentary committee (JPC) on the Personal Data Protection Bill, 2019, continues to form the basis for consideration in the Lok Sabha for the legislation protecting the privacy of individuals.

Indrajit Hazra Download
Stop Chasing Status (Quo) -- 19-Jul-22
Kunal Shah is credible when he says the Indian fetish for status chokes entrepreneurial success

Soumya Kanti Ghosh & Ashish Kumar Download
Privatisation's No Magic -- 19-Jul-22
In his 2021 letter to shareholders, JPMorgan CEO Jamie Dimon had said the future of banks will depend on how well they adapt to the mammoth pace of change, and the size of the competition from payments companies, fintechs and others offering ‘banking type services’ that remain outside the banking regulatory system. 

Amit Khosla Download
Remittance Route For Investment? -- 18-Jul-22
The consensus is that by the end of 2022, interest rates will jump by 2. 5-3% in a series of further interest rate hikes.

Seema Sirohi Download
INFRUS Structure vs China -- 18-Jul-22
An architect of the India-US nuclear deal wants India to nuke up with French help, and US blessings

Kiran Mazumdar-Shaw Download
Wiring Up Globalisation 4.0 -- 18-Jul-22
The aftermath of the pandemic and the ongoing Russia-Ukraine war have triggered massive disruptions in global supply chains

Bjorn Lomborg Download
'Fertilisers' Isn't an F Word -- 15-Jul-22
Improving seeds, not organic farming, will produce more food, curb prices and save nature

Anirudh Gotety Download
Keep Those in the Vault -- 15-Jul-22
Russia's invasion of Ukraine and the consequent sanctions imposed by the West hold a lesson for India. 

Poonam Gupta Download
Familiarity Breeds Action -- 14-Jul-22
Global capital flows have been retrenching from emerging market (EM) economies since end-February in the wake of Russia’s invasion of Ukraine.

Akshay Rout Download
Keep Emptying the Bin -- 14-Jul-22
Big missions rightly require higher scrutiny. The Swachh Bharat Mission (SBM), launched almost eight years on Gandhi Jayanti in 2014,

Dhiraj Nayyar Download
Bad 'Nomics + Bad Luck -- 13-Jul-22
Every major global economic crisis is usually followed by more localised economic catastrophes with a time lag.

Amitabh Kant Download
The Incredible Green Hydro Hub -- 12-Jul-22
India has the opportunity today to accelerate innovation and scale up deployment of green hydrogen (GH) production technology. This is critical, as electricity accounts for less than a quarter of India’s energy economy.

Abheek Barua Download
For a Few Dolla?s More -- 08-Jul-22
Stability in the rising dollar could revive portfolio inflows into India

Prasanna Tantri Download
Merge & Get Rid of NPAs -- 08-Jul-22
The tide of bank non-performing assets (NPAs) seems to be finally ebbing, with net reported NPAs coming below 2%.

Anil Nair Download
Powerhouse of Storehouses -- 07-Jul-22
The data centre business is booming across the world, and India needs to plug into this buzz

Najib Shah Download
The Gold Duty Paradox -- 07-Jul-22
In a surprise move, GoI recently initiated tariff measures on two very different commodities — petroleum products and gold.

Amarjeet Sinha Download
Learning, Some Covid Lessons -- 06-Jul-22
Covid restrictions and school closure have been a traumatising experience for children. Pratham’s Annual Status of Education Report (ASER) 2021, the National Achievement Survey (NAS) 2021, the Department of School Education’s (DoSE) compilation of innovative digital learning experiments across states in 2021

Nitin Patil Download
Spreading LNG, Most Naturally -- 06-Jul-22
In the past five years or so, GoI has focused and facilitated in various ways building renewable energy (RE) capacity. 

Markus K Brunnermeier Download
Ready for a QWERTY Jump? -- 05-Jul-22
We need more resilience for both large shocks and slow-moving trends that can accelerate later.

Seema Sirohi Download
Russia on Tap-Tap-Tap -- 05-Jul-22
The recent G7 and Nato summits tried to project Western unity against Russia. But the hugs and handshakes carried a definite undercurrent of worry in the face of rising economic and political costs of the Ukraine war.

Jayant Krishna Download
India Needs to Science Things Up -- 04-Jul-22
Indian science is a sleeping giant in dire need to be awakened. It can repeat the magic of the economic reforms of the early 1990s if it can reform the science and technology (S&T) sector big time.

Anjuli Bhargava Download
Time for a Crash Course? -- 04-Jul-22
Byju's has denied that it has delayed payments to Aakash Educational Services, an edtech company it acquired in April 2021. 

Anil Padmanabhan Download
The Grand GST Trade-Off -- 01-Jul-22
Five years since its rollout, the Centre-states bickerings on the tax's pickings can be resolved

Neerja Chowdhury Download
So, Who's the Real Sena? -- 01-Jul-22
In the last 24 hours, Maharashtra has hurtled through events at a breathtaking speed — leading to Eknath Shinde being installed as Maharashtra chief minister at the head of a Shiv Sena-led government and Devendra Fadnavis, of the numerically larger BJP, as his deputy.

Bhupender Yadav Download
Endurance vs Propaganda -- 30-Jun-22
Modi stuck to the path of dharma, enduring the canards spread against him over the last 20 years

Madhavan Narayanan Download
The Other Plastic Money -- 30-Jun-22
From tomorrow, India is imposing a nationwide ban on the manufacture, import, distribution and sale of identified single-use plastic items. On March 2, 170 countries had pledged to do away

Bibek Debroy, Sarvadanand Barnwal & Aditya Sinha Download
Inequality, Inequity, Credulity -- 29-Jun-22
Inequality, unlike poverty, is a relative concept. One must pin down the distribution measured

Sunil Duggal Download
Dig a Bit Deeper, India -- 29-Jun-22
India's huge dependence on imported oil and the consequences it has on the economy are well known. What is less well known is that the country is also highly dependent on imports for key minerals and metals.

Debjani Ghosh Download
Why Trust is Most Valuable Currency in Digital World -- 29-Jun-22
Trust must be built into the very design of every process.

Seema Sirohi Download
The Great Regression -- 28-Jun-22
If only American women had as many rights as guns. … But they don't in a country that seems to harbour a special fear of women and their autonomy.

Kunal Bahl Download
Will the Real Angel Investor Please Stand Up? -- 27-Jun-22
Being an angel investor is a responsibility, not a lottery ticket. It needs effort, thinking and discipline

Nalin Mehta Download
Sena, Endangered Species -- 24-Jun-22
Shiv Sainiks have challenged their high command in the past, but this time there's a difference

Pradeep S Mehta Download
Don't Pollute the Plastic -- 24-Jun-22
RBI's move to introduce card-on-file tokenisation (CoFT) to cast a safety net on consumers' card details is a move in the right direction.

Bibek Debroy & Aditya Sinha Download
Reform on a War Footing -- 23-Jun-22
GoI's new recruitment scheme makes strategic and fiscal sense, but can it be improved for rollout?

Ajay Chhibber Download
Not Just Free, But Also Fair, Trade -- 23-Jun-22
The World Trade Organisation (WTO) agreements at the 12th ministerial conference (MC12) in Geneva are the first positive signs that despite all the gloom and doom of the pandemic, and the Ukraine war and sanctions, all hope on multilateral cooperation is not lost. 

Seema Sirohi Download
On Trump's Last Stand -- 22-Jun-22
A remarkable dissection of US democracy is underway. But the success of the operation — to undeniably establish the truth about the January 6, 2021, insurrection on Capitol Hill — is far from ensured in these ultra polarised times.

Neeraj Kaushal Download
Jai Momo-Seller, Jai Kisan! -- 21-Jun-22
EYES WIDE SHUT We need to value all work, and not just government or office jobs

Harsh V Pant & Premesha Saha Download
Keep ASEAN On the Go-To Menu -- 21-Jun-22
India's ‘Act East' policy is a core tenet of its Indo-Pacific vision. This was underlined at the special Association of Southeast Asian Nations (Asean)-India foreign ministers' meet hosted by New Delhi on June 16 to mark the 30th anniversary of India's ties with Asean.

Dhiraj Nayyar Download
The Dribbles Should Be the Goal -- 21-Jun-22
One of the defining features of the present government has been the practice of setting targets — well defined, quantifiable goals across sectors, which are then efficiently implemented in a time-bound manner, usually in mission mode.

V Ranganathan & Manvendra Singh Download
To Barracks or Barricades? -- 20-Jun-22
The Agnipath scheme will take a budgetary load off GoI. But will it add weight for aspiring jawans?

Bishwajit Battacharyya Download
Overreach By the Directorate -- 20-Jun-22
The Prevention of Money Laundering Act, 2002 (PMLA) was notified on July 1, 2005. The legislation deals with ‘scheduled offence', as defined in Section 2(y) of the Act.

Bibek Debroy, Bjørn Lomborg & Aditya Sinha Download
SDGing Out the Right Signs -- 17-Jun-22
The Covid-19 pandemic has whittled away two years of economic development. It has also made it difficult for countries worldwide to adhere to 2030 Sustainable Development Goal (SDG) targets.

Ajay Tyagi Download
Enlighten the Investors -- 17-Jun-22
It is but natural for the ownership pattern of publicly listed companies to change with time. In India, the trend of gradual increase in non-promoter shareholding in listed companies

Boria Majumdar Download
Rs.48,390 League Over the Sea -- 16-Jun-22
With the dust starting to settle on the Rs.48,390 crore ($6. 2 billion) IPL media rights sale for the 2023-27 period, it's a good time to put the numbers in perspective.

Rohit Prasad & V Sridhar Download
Split Circles, Cut the Knot -- 16-Jun-22
On Wednesday, the Union Cabinet clearedthe auction of 5G spectrum scheduled to start in end-July. Till then, policymakers, telecom companies and industries eagerly await the windfall to be gained from 5G-capable networks

Arijit Barman Download
Knock on Red Wood -- 15-Jun-22
The red wood of the tree after which it's named symbolises wellness, safety, longevity, wisdom and communication.

Neeraj Aggarwal Download
Lining Up for Take-Off -- 14-Jun-22
Lenin is said to have famously remarked before the 1917 revolution, ‘There are decades where nothing happens; and there are weeks where decades happen.

Poonam Gupta & Kayva Singh Download
For Genuine 20/20 Vision -- 13-Jun-22
Often decried as being ineffective and irrelevant, G20 received a lease of life during the 2008-09 global financial crisis, and the Covid-19 pandemic in 2020. During the decade between these two crises, global trade and financial flows have undergone a significant evolution.

Giriraj Amarnath Download
Fix the Roof When It Isn't Raining -- 13-Jun-22
Forecasts of a normal monsoon this year will offer little relief to farmers having endured a record-breaking heatwave this summer across the country. Yet, the two seasons embody the paradox of climate risks and impacts facing Indian agriculture.

Richa Roy Download
The ABC of Maximising the IBC -- 13-Jun-22
Awell-functioning insolvency law with clear creditor rights reduces the cost of credit and increases access to credit for the economy. Although insolvency law is focused at the end of the life of a company,

Shantanu Nandan Sharma Download
Be Telehealthy & Wise -- 10-Jun-22
After almost three years of a devastating Covid-19 pandemic, the World Trade Organisation (WTO) realises that it has not delivered much in the global attempt to weather the storm.

Ramnath Krishnan Download
Shaping Up With ReKovery -- 09-Jun-22
After the unexpected off-cycle policy rate increase of 40 basis points (bps) in May, the Reserve Bank of India's Monetary Policy Committee (MPC) has hiked the repo rate by another 50 bps to 4. 9% in its June 2022 policy review.

Rohit Kumar & Aishwarya Viswanathan Download
Ready for Going 'Token'? -- 09-Jun-22
The payments ecosystem in India is in for astir. RBI's ‘no card storage' directive of March 2020 is set to kick in from July 1.

Joy Bhattacharjya Download
Spoilsports on the Prowl -- 08-Jun-22
A high court order stopping funds to sports bodies can be the wrong kind of game changer

Seema Sirohi Download
Under a Pile of Crises -- 08-Jun-22
It's summertime and the livin' isn't easy for Joe Biden. The US president is in significant political trouble at home and he knows it.

Sajjan Singh Yadav Download
SNA Dashboard: Tracking the States' Contribution, Spending Under CSS -- 07-Jun-22
Centrally sponsored schemes (CSS) contribute significantly to fiscal transfers from the Centre to states. In 2021-22, ? 3. 8 lakh crore was released to states under CSS, accounting for 20% of the total fiscal transfers.

Dipankar Bhattacharyya Download
Clean the Investor Sediment -- 07-Jun-22
Foreign direct investment (FDI) serves as a vindication of a country's economic policies, and the highest annual inflow during the previous fiscal year can provide occasion for cheer when most other macroeconomic variables are looking vulnerable.

Mohan Kumar Download
Swim or Sink in Geneva -- 07-Jun-22
The World Trade Organisation (WTO) will hold its 12th ministerial conference (MC12) on June 12-15 in Geneva, Switzerland, after the last one in Buenos Aires, Argentina, in December 2017. 

Saibal Dasgupta Download
Moscow Speaks Mandarin -- 06-Jun-22
China's emerging role as a saviour for Russia, which is facing unprecedented economic punishment through sanctions from Western countries, has become apparent.

Kunal Kumar Download
Busting the Smart Citizen Myth -- 06-Jun-22
Citizen engagement lies at the core of acity's development. But who is the citizen? Is there a standardised citizen —an interchangeable entity with no distinct personality, preferences or history? Are citizens merely beneficiaries in the development process?

Vijay Bhaskar, Rajeev Chawla & Jaijit Bhattacharya Download
No More Hit & Miss Benefits -- 06-Jun-22
That there is a mismatch between targeted beneficiaries and those getting the benefits provided by governments is well known. The government in question faces five key challenges.

Arvind Panagariya Download
Of Sealing and Delivering -- 03-Jun-22
Actions in the economic sphere during eight years under the prime ministership of Narendra Modi can be placed into four buckets: policies, projects, processes and delivery of benefits.

Sunil Duggal Download
It's a Rare Opportunity -- 03-Jun-22
Most of us have heard about rare earth elements (REEs) and their strategic applications. It is also reasonably well-known that currently China controls more than 60% of the global production of REEs.

Bhupender Yadav Download
Up the Ease of Doing Work -- 02-Jun-22
Narendra Modi's 2021 Independence Day speech made lowering ‘regulatory cholesterol' a policy priority. ‘We want such an India where the government doesn't interfere with the lives of citizens.

Sanjeev Choudhary Download
Invest in Quagmires? -- 02-Jun-22
Should India invest in Russian oilfields? Those in the ‘yes' camp argue that the war or sanctions won't last forever, and life will return to normal within a few years.

Mythili Bhusnurmath Download
Prepare for a Hard Rain -- 01-Jun-22
Worries about inflation have long displaced growth concerns. With consumer price and wholesale price inflation at an eight-year and nine-year high, respectively, that's not surprising.

Ajay Chhibber Download
NITI Needs a New Plan -- 31-May-22
With a new deputy chairman of NITI (National Institution for Transforming India) Aayog taking over earlier this month, it may be time to rethink its role. For India, the experiment with ‘no planning' has not worked.

Arghya Sengupta & Lalit Panda Download
Perils of Complete Justice -- 27-May-22
If a person steals something, the law punishes her regardless of whether she is poor, uneducated or has mouths to feed. But while theft is bad, so are poverty, illiteracy and hunger. This is the difficulty with rules:

Tarun Gauba Download
America, a Danger Zone -- 27-May-22
The world witnessed one of the deadliest shootings in the US on Tuesday at Uvalde, Texas, where an 18-year-old went on a shooting spree killing 18 children and two adults. The shooting prompted Joe Biden to ask why the problem of mass shootings exists in the US like in no other country.

Akhil Ramesh Download
Chip Off the New Block -- 26-May-22
In his first trip to Asia as president, Joe Biden unveiled the Indo-Pacific Economic Framework (IPEF) in Tokyo, before attending the second iteration of the in-person Quad summit.

S Jaishankar Download
African-Indian Ocean Diving -- 25-May-22
As the world marks Africa Day today, it may be appropriate to assess how much the India-Africa partnership has grown on Narendra Modi's watch. The prime minister's address to the Ugandan Parliament in July 2018

Seema Sirohi Download
Biden's India No-Man -- 25-May-22
It's been 16 months since Joe Biden took office as president. But there is still no US ambassador in India, the longest such gap between envoys. Well-wishers of the relationship are increasingly concerned as one of the largest US embassies remains leaderless.

Harsh V Pant & Shashank Mattoo Download
Is IPEF Just a Global Spin? -- 24-May-22
After 16 months in office, the Joe Biden administration has finally pulled back the curtain on its signature economic initiative: the Indo-Pacific Economic Framework (IPEF). However, as grand reveals go, IPEF has been more than a little underwhelming.

Kaushik Das Download
How High & Fast, RRR? -- 24-May-22
Two things have changed since the release of the March consumer price index (CPI) data that, coming at 7% against the consensus estimate of 6. 4%, shocked the markets. One, FY2023 CPI inflation forecast has been revised significantly higher, with the average likely to rise even above 7%.

Amitabh Kant Download
India, It's Re-Reform Time -- 23-May-22
With the world just about recovering from demand and supply shocks, the Russian invasion into Ukraine sent energy markets into disarray since February. Oil and gas prices have spiked, leading to inflationary pressures

M Shumi Akhtar Download
New Aussie Rules Apply for MNCs -- 23-May-22
Now that Australian Labor Party (ALP) leader Anthony Albanese has ousted the conservatives from power and is ready to take over as prime minister, he will also bring with him an election promise to hike corporate tax rates

Manmohan Sethi Download
Not Making States Feel Left Out -- 23-May-22
The Supreme Court judgment on the goods and services tax (GST) should help to better understand the problems that GoI would face in its implementation. Five years is a short time to assess a tax system in a country as vast as India.

Sandip Datta & Geeta Gandhi Kingdon Download
More Missed Than Missing -- 20-May-22
Now that children are being vaccinated and schools are learning to live with Covid, the pressure for hiring more teachers in public schools will grow. This is likely in view of strong teacher unions and the recommendation by the New Education Policy

Aparajita Bharti & Nikhil Iyer Download
Don't Mule the Unicorn -- 20-May-22
The B N Srikrishna Committee report on ‘A Free and Fair Digital Economy' (bit. ly/3PtV9oO), which was the basis for the Personal Data Protection Bill, was released in July 2018. Until then, India had 16 unicorns.

Abheek Barua Download
What's ‘Whatever It Takes'? -- 19-May-22
There seem to be three problems with the current consumer price inflation in India. First, it is undoubtedly high, in a subjective, absolute sense as well as more objectively, close to two percentage points (going by the April print of 7.8%)

Pallava Bagla Download
Better Safe Than Starry -- 19-May-22
India's most expensive — and riskiest —space mission to carry Indians into space, Gaganyaan, which was initially scheduled for this year, will not happen for another two years.

Neeraj Kaushal Download
A Tale of Last Two Years -- 18-May-22
The immortal opening lines in Charles Dickens' 1859 historical novel, A Tale of Two Cities, aptly describe the past two years of Covid in India. It was the best of times …

Bharath Jairaj & Niharika Tagotra Download
Put Energy in the Plan -- 17-May-22
India's power supply situation is making headlines again. As extreme heatwavelike conditions take prevalence over most of the country, peak power demand has been breaking records every other day.

Ajay Jakhar Download
Separate Data from the Chaff -- 16-May-22
A month back, it was clearly evident that wheat yields were down due to the exceptional heatwave and government procurement of wheat would also remain far below last year's levels. But the mirage of excess production, caused by wrong estimates of wheat

Karan Singh Download
Virtual Quality Control's Ours to Tech -- 16-May-22
After a pandemic-induced break of nearly two years, the US Food and Drug Administration (FDA) has announced the resumption of physical inspections of foreign manufacturing facilities starting April.

Arun Maira Download
It's Society, Stupid! Not a Machine -- 16-May-22
Three global crises in the new millennium have revealed flaws in the ruling paradigm of economic policies. The 2008 financial crisis, 2020 Covid pandemic, and now, inflation rearing its ugly head across the world.

Yashwant Deshmukh & Manu Sharma Download
Colour By Numbers -- 12-May-22
The World Health Organisation (WHO) has estimated that 4. 74 million people died in India from Covid-19. This number is more than nine times the official count of 0. 52 million deaths.

Hardeep S Puri Download
Steep Spike and Doublespeak -- 12-May-22
India has emerged among the more resilient countries against the Covid pandemic, turning the challenges posed by it into an opportunity.

Seema Sirohi Download
Trumpbomb in the Oven -- 11-May-22
Why do societies work out their demons by dragging women through the same battles again and again? It doesn't matter whether they are advanced or medieval in outlook or somewhere in between.

Sandipan Deb Download
It's One Sloppy WHOdunit -- 09-May-22
The World Health Organisation (WHO) says that 4. 7 million Indians died of Covid between January 2020 and December 2021. This is nearly 10 times the official Indian government figure.

Bjørn Lomborg Download
Apocalypse Not Now -- 09-May-22
A new United Nations global assessment report, ‘Our World at Risk: Transforming Governance for a Resilient Future' (bit. ly/3P3FOeh), has revealed the disturbing news that the number of global disasters has quintupled since 1970…

Anil Padmanabhan Download
Retail's WhatsApp Moment -- 06-May-22
Last week, on April 30, India undertook the soft launch of its audacious plan to democratise the business of retail. It is riding the technological rails provided by the Open Network for Digital Commerce (ONDC)...

Harsh V Pant & Tobias Scholz Download
Cooperation Über Alles -- 06-May-22
Germany's recently elected centre-left coalition under Olaf Scholz chose India as the partner for its first governmental consultations on May 2. Beyond the signalling effects that Europe's and Asia's largest democracies….

Barry Eichengreen, Poonam Gupta & Tim Marple Download
Take CBDC Slow and Easy -- 05-May-22
In her February 1, 2022, budget speech, Nir mala Sitharaman announced GoI's commitment to issuing a digital rupee. The relevant text ran three sentences in its entirety. ‘Introduction of [a] central bank digital currency (CBDC) will give abig boost to digital economy.

Dhiraj Nayyar & Sugata Ghosh Download
RBI RATE HIKE -- 05-May-22
The global economy is in a tight spot, haunted by the spectre of slowing growth and accelerating inflation. In India, the Reserve Bank of India (RBI) finally threw its weight behind inflation, raising the repo rate by 40 basis points (bps) and the cash reserve ratio (CRR) by 50 bps.

Sanjeev Choudhary Download
Taming of the Crude -- 04-May-22
Oil and gas prices began tumbling around the time Narendra Modi took over as the prime minister in mid2014. Oil prices halved in just six months. By mid-2015, liquefied natural gas (LNG) prices had also halved.

Nawshir H Mirza Download
An Audit Kind of Oddity -- 03-May-22
In March, a committee report was published by the ministry of corporate affairs, on the working of the Companies Act. This one, like the many others preceding it, makes recommendations to ease the way business is done in India.

Najib Shah Download
All That Glitters in This CEPA... -- 02-May-22
The text of the much-publicised India-UAE comprehensive economic partnership agreement (CEPA), signed on February 18 and operationalised on Sunday, is in the public domain.

Sanjiv Mehta Download
Brandenburg Gate to Europe -- 02-May-22
Beginning 2011, the India-Germany partnership has been reinvigorated every couple of years by inter-governmental consultations (IGC). The stage is now set for the sixth IGC in Berlin today, where Narendra Modi and Olaf Scholz...

Ateesh Tankha & Syagnik Banerjee Download
Musk's Protective Paybook -- 29-Apr-22
Twitter's transition from a publicly listed company to a privately held firm under the world's richest person is pretty much underway. While many bemoan the fact that Twitter will now be at the mercy of Elon Musk's personal whims…

Sarim Naved Download
Pulling the White Collar -- 29-Apr-22
India needs a new law regarding corporate criminal liability. The current laws, as far as the criminal liability of officers and directors is concerned, are largely silent on the issue. The Companies Act does specify the liabilities of directors…

Anil Nair Download
Enable the Sustainable -- 28-Apr-22
ESG - environmental, social and governance — is no longer just a buzzword. $15 trillion of global funds are focused on this space. Focal areas include carbon stewardship, greening of market offers and the supply chain that delivers it…

Indrajit Hazra Download
Freedom Fighter's Dilemma -- 27-Apr-22
Elon Musk is buying Twitter for an amount that seems reasonable if Twitter's function as The Great Disseminator is taken at face and monetary value. When Jack Dorsey, Noah Glass, Biz Stone and Evan Williams created…

Seema Sirohi Download
The Bank'n'Fund Show -- 27-Apr-22
The spring meetings of the World Bank and the International Monetary Fund (IMF) ended with a surprise attack by senior US officials. Treasury secretary Janet Yellen and deputy national security advisor Daleep Singh…

Saumay Bhasin & Anirudh Rastogi Download
Unease of Doing Business -- 26-Apr-22
The state has great latitude in matters of law-making. More so in the context of fiscal laws like taxation. There are, however, times when the state overreaches and tests the limits of constitutionality.

Vijay L Kelkar & Pradeep S Mehta Download
Social Distancing Please -- 26-Apr-22
Ministries pertaining to sectors regularly interfere with independent regulators thereby challenging their very independence. These regulatory institutions lie at the heart of India's post reforms economic governance system

MAHAVIR KASWA Download
Constant Maturity Debt Funds Gain in Long Term Whether Rates Rise or Fall -- 25-Apr-22
Passive investing is slowly catching up in equities and bonds. Passive bond strategies include buy and hold (B&H) and constant maturity debt (CMD). While the former is well received, the latter has not been explored much.

Saibal Dasgupta Download
Not a Happy Lanka Kand -- 25-Apr-22
Anyone looking at the financial crisis and rising protests in Sri Lanka is bound to ask what happens if the government run by the two Rajapaksa brothers, known to be pro-China, crumbles in the coming days.

Sanjeev Bikhchandani Download
The Buck Starts With Founders -- 25-Apr-22
Last Sunday, Sequoia India published atimely blog on governance issues (bit. ly/395Liov). Good governance is essential if you wish to build a company that endures. The problem, however, is that governance is usually not considered urgent

Dipankar Bhattacharya Download
ABoot, But Not a Reboot -- 22-Apr-22
The stock market is re-evaluating information technology (IT), because its expectations have not been met of the industry continuing its stellar run over the course of the pandemic.

Pravin Srivastava, Ashish Kumar & Davendra Verma Download
Hands on Healthy Data -- 22-Apr-22
According to an April 16 New York Times article, ‘India is Stalling the WHO's Efforts to Make Global Covid Death Toll Public' (nyti. ms/3vyaonA), the World Health Organisation (WHO) will soon be releasing data

Neeraj Kaushal Download
Need Aatmanirbhar Naari -- 21-Apr-22
Horror of horrors, Saudi Arabian women now have a much higher work participation rate than Indian women. In recent years, Saudi Arabia has had a series of reforms to reduce gender discrimination

Anjana Menon Download
A VC Way Out, Sequoia? -- 21-Apr-22
US venture capital firm Sequoia Capital is on a roll — an eye-roll of bad news. Since the start of the year, four companies that it invested in have come under the scanner for alleged financial irregularities.

Tushar Gore Download
Communicating Covid -- 20-Apr-22
One remarkable aspect of the Covid pandemic has been the capacity of the broader population to devour wideranging scientific data. This intense appetite has also led to the inevitable flourishing of many fringe ideas.

Poonam Khetrapal Singh Download
Cutting-Edge Tradition -- 19-Apr-22
The launch of the World Health Organisation (WHO) Global Centre for Traditional Medicine (GCTM) on Monday in Jamnagar, Gujarat, marks the beginning of a bold new chapter

Ateesh Tankha Download
Rise of the Dollar Decline? -- 18-Apr-22
I tis a truth universally acknowledged that every dominant fiat currency will rise, and then sink into oblivion. For thousands of years, powerful and prosperous nations have used their coin recklessly

Shantanu N Sharma Download
Let's Not Face It, Set FTAs Free -- 18-Apr-22
India has recently sealed two free trade agreements (FTAs) — with the UAE and Australia — at record speed. They bear significance of what lies ahead: proposed FTAs with Britain, Canada and the Gulf Cooperation Council (GCC)

Krishna Gupta & Sparsh Agarwal Download
Reading the Forest's Tea Leaves -- 18-Apr-22
One of the most pertinent ways in which the transfer of climate finance can be facilitated is through the carbon credits mechanism. It represents a market mechanism-driven approach for the transfer of climate finance

MC Govardhana Rangan Download
Inflation & RBI: Is the Maradona Theory Already At Work? -- 14-Apr-22
Until a few weeks ago, central bankers from Jerome Powell to Shaktikanta Das believed that inflation would be transitory. Suddenly, it appears to be lasting.

Anil Padmanabhan Download
India Incs the Dotted Line -- 14-Apr-22
On April 1, new rules for corporate governance were made mandatory by the Securities and Exchange Board of India (Sebi). Beginning this fiscal, the top 1,000 companies ranked by market capitalisation will be required to disclose their actions in promoting sustainable growth.

Thomas Mathew Download
Keep All the Lines Open -- 14-Apr-22
India has done well to not just stand its ground but also explain why it stands this ground, on its policy regarding Russia's war in Ukraine in Tuesday's India-US 2+2 ministerial meet.

Seema Sirohi Download
On a Double Date (Plus-1) -- 13-Apr-22
In an unexpected plot twist, the fourth round of India-US 2+2 dialogue of foreign and defence ministers was headlined by Narendra Modi and Joe Biden, no less.

Abheek Barua Download
The Export-Import Business -- 12-Apr-22
India's stellar export performance in 2021-22, with merchandise exports totalling over $400 billion, compared to a pre-pandemic five-year average of $300 billion, has drawn its fair share of both cheerleaders and sceptics.

Arijit Barman Download
Is Your EBITDA Green? -- 12-Apr-22
What on earth has your evening snack of burger and fries got to do with rising sea levels in Mumbai or forest fires in California? Answer: most of what we love eating use ingredients pumped with fertilisers

Anchal Singh & Rahul Rishi Download
Control Can't Be No-Go for NGOs -- 11-Apr-22
Last Friday, the Supreme Court upheld the amendments made by GoI in 2020 to the Foreign Contribution (Regulation) Act (FCRA) 2010, which introduced restrictions on the inflow of foreign funds into India.

Ashok V Desai Download
Put Your Bets on Openness -- 08-Apr-22
The exchange between Shashi Tharoor and Nirmala Sitharaman in Parliament on Monday was over too quickly to provoke much interest. Sitharaman did not quite answer the question

Subhash C Garg Download
GST Ghosts for MSMEs -- 08-Apr-22
GoI classifies small businesses in three classes: micro, small and medium enterprises (MSMEs). The classification of MSMEs depends on the extent of capital investment made and their turnover.

Seema Sirohi Download
Dodging the Anti-West Potholes -- 06-Apr-22
The diplomatic traffic jam caused by the parade of foreign leaders and senior officials in New Delhi is no cause for self-congratulation or comfort.

Madan Sabnavis Download
Join Forces and Join the Dots -- 06-Apr-22
The history of banking in India has been typified by different kinds of mergers. To begin with, there were mergers or takeovers between new private sector banks like Bank of Punjab and Centurion Bank.

Nilanjan Mukhopadhyay Download
Kejriwal, the Long Player -- 05-Apr-22
Is the BJP worried about its ability to effectively counter the challenge posed by the Aam Aadmi Party (AAP) after the last tranche of state elections?

MC Govardhana Rangan Download
A Subtle Shift From Friedman To Kelton? -- 04-Apr-22
A popular phrase that economists often borrow to describe inflation is from Milton Friedman: Substantial inflation is always and everywhere a monetary phenomenon.

Piyush Goyal Download
Austrailer for a Bigger Show -- 04-Apr-22
India's first trade agreement with a developed economy after over a decade is a harbinger of more to come

Akshay Rout Download
Wrap It Up, Swachh From Plastic -- 04-Apr-22
In a March 2022 research paper (bit. ly/3K9lRzW) published in Environmental International, researchers detected microplastics in human blood.

Kiran Mazumdar Shaw Download
Covid Made Our Pharma Firmer -- 04-Apr-22
The tectonic shifts that the Covid-19 pandemic brought with it has thrust the Indian biotechnology industry into the global limelight.

Rahul Pandita Download
So, What Next, File-Pushers? -- 01-Apr-22
Beyond endorsing a film, let GoI first set up an investigation into the killing of Kashmiri Pandits

Nitin Purswani Download
NPA More Attention -- 01-Apr-22
Much has been argued, said and written about the odious condition of banks, the piling non-performing assets (NPAs), that need recovering.

AVINASH MOHANANEY Download
Imran Khan's Troubles are of his Own Making -- 31-Mar-22
If no-trust vote is passed, Pak may pursue General Bajwa doctrine on India

William Dalrymple Download
When British Rule Was Nearly Nipped in the Bud -- 31-Mar-22
Why a 19th-century painting that was auctioned at Sotheby's yesterday for ?6.24 crore is so special

Preeti Syal & Meyyappan N Download
From Tomorrow, Crypto Confusion? -- 31-Mar-22
'Virtual digital assets have gained tremendous popularity in recent times and the volumes of trading in such digital assets have increased substantially. 

KANWAL SIBAL Download
West Can't Cavil at India for Doing Biz with Russia; it has Erred Too -- 30-Mar-22
Talk of principles is unconvincing as all sides have violated them when it served their national interest

Sachin Chaturvedi Download
Big Gains, High Stakes in BIMSTEC -- 30-Mar-22
As Sri Lanka hosts the 5th Bimstec Summit today, and the grouping marks 25 years of its existence, member states will focus on what, over the last two years, the Covid pandemic has exposed: limited capacities.

Seema Sirohi Download
Oh, The Wise Men From the West -- 30-Mar-22
Western politicians and commentators want India to take sides in the Ukraine war. The daily preaching and pushing — always done without a hint of history or irony — is meant to clarify the Indian mind.

Neeraj Kaushal Download
Sanctions Don't Hurt Putin -- 29-Mar-22
The West's economic sanctions on Russia are brutal. And, yet, they are not working. They will cripple the Russian economy, increase global inflation and trigger a recession in Europe

Vijay Kelkar & Harsha Vardhana Singh Download
Praise Be the Tariff Panel -- 29-Mar-22
Last month, GoI initiated plans for a revamp of the department of commerce to make it more effective to meet its exports target of $2 trillion by 2027. This includes establishing a strengthened trade negotiation ecosystem

- Download
Buy the Dips if Nifty Continues to Trade Above 16,900 Levels -- 28-Mar-22
The benchmark Nifty is likely to find support at 17,000 this week, and a sustained move above 17,350 can take the index higher, possibly to 17,500 levels, said technical analysts.

Parthasarathi Shome Download
Proof of the Tax Pudding -- 28-Mar-22
GoI has made several tax changes during its two terms. Some of them may appear to be small, thus remaining out of everyday discussion outside the business sector.

Bishwajit Bhattacharyya Download
Dollar Aside, Rouble-Rupee Buy-Buy -- 28-Mar-22
Russia's invasion of Ukraine has triggered another global financial crisis. The US has announced it would freeze Russian central bank assets.

Soumya Kanti Ghosh Download
Running Populism on Low Fuel -- 28-Mar-22
Like any other emerging economy, India, too, has very limited fiscal manoeuvrability. This may be the reason it had to tread carefully in crafting a fiscal response to the pandemic.

Kiran Karnik Download
Ushering a Uniform Fetish? -- 25-Mar-22
Universities must be given flexibility about how to use Common University Entrance Test results

Harsh V Pant & Sohini Bose Download
Let's BIMSTEC Together -- 25-Mar-22
It's been 25 years since the formation of the Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation (Bimstec) in 1997.

Varun Gandhi Download
Have an Invested Interest -- 24-Mar-22
To encourage retail investors, the state should protect them from vagaries of the market and fraud

Indrajit Hazra Download
Bogtui Is No West Side Story -- 24-Mar-22
Fun fact : the village of Bogtui in West Bengal is 5,675 km from the city of Kyiv in Ukraine, and 220 km away from everyone's ‘City of Joy', that urban metropolitan bubble called Kolkata.

Raktim Dutta Download
Leave Tax to Taxperts -- 23-Mar-22
The goods and service tax (GST) seems to have implemented the idea of 'one nation, one market, one tax'.

Sanjaya Baru Download
Swadhin By Another NAM -- 17-Mar-22
With the West having weaponised globalisation, India must insure its economy by aatmanirbharta

Seema Sirohi Download
The Political Theatre of Ro Khanna -- 17-Mar-22
It's well known the US administration has taken a mature position on India's dilemma on Russia's war against Ukraine.

Bibek Debroy & Aditya Sinha Download
Off With Those Headless Laws -- 17-Mar-22
The word 'draconian' comes from the Athenian lawgiver Draco who gave civilisation an important milestone — written laws. Before this, it was ad-hocracy.

Sreeram Chaulia & Urmi A Goswami Download
FROM RUSSIA, WITH LOVE? -- 16-Mar-22
India faces the sticky issue of balancing its energy imports from 'all-weather' friend with geopolitics

Geeta Goel & Hardika Shah Download
Stir Up Nano Enterprises -- 15-Mar-22
There is substantial evidence to show the importance of small businesses in the growth and vibrancy of an economy, including job creation, sparking innovation and absorbing the shocks of economic cycles.

Surjit S Bhalla, Karan Bhasin & Arvind Virmani Download
Women & Vaccines Make It -- 14-Mar-22
The Narendra Modi government has been associated with several historic developments, both political and economic, and the latest five state elections are suggestive of a strong continuation of this trend.

Samir Saran Download
Know the Risks, Reap the Benefits -- 14-Mar-22
India is among the most technologyadept nations, a function of its people's comfort with IT products and services as well as its late-mover advantage. 

Sanjay Chadha Download
Dinosaurs in the Trade Park -- 14-Mar-22
The recent budget announcement of the successful disinvestment of Neelanchal Ispat Nigam Ltd (NINL) plant at ?12,100 crore brings relief for MMTC Ltd, a state-owned trading firm that holds 49. 7% equity in NINL.

Nilanjan Mukhopadhyay Download
The Win-Win-Win Elections -- 11-Mar-22
TheBJP's emphatic return to power in Uttar Pradesh is undeniably the most significant development in Thursday's 'Result Day' — both for the country as well as for the party's trajectory and internal dynamics.

Mohammad Sajjad Download
UP Makes Its Choice Clear -- 11-Mar-22
The clearest — and certainly loud — message of the Uttar Pradesh verdict is that it has been established that there are now two categories of electorates in the state: majority (non-Muslims) and minority (Muslims). 

Anil Nair Download
So, Are You For or Against Crypto? -- 11-Mar-22
The US has woken up to the criticality of cryptocurrency, with Joe Biden issuing an executive order on Wednesday, requiring the treasury department, commerce department and other key agencies to examine various aspects of 'the future of money' and the role of cryptocurrencies

Bruce Riedel & Vandana Hari Download
Global Warning is Real -- 10-Mar-22
The decision by Joe Biden to ban Russian oil and gas imports to the US reflects the fact that the Ukraine crisis is fundamentally changing US foreign policy. 

Sanjay Banga Download
No More Powerless Poll Promises -- 10-Mar-22
Regardless of which parties win and lose today, political parties of all hues are united on one front: promising free power to customers if they come to power in the five states.

Akshay Rout & Atanu Biswas Download
OTHER POLL RESULTS -- 09-Mar-22
One result is already out pertaining to the five state elections the verdicts of which will be out tomorrow: voters have scored without distinction.

Vijay L Kelkar & Pradeep S Mehta Download
Independence for Our Regulators! -- 09-Mar-22
India will soon be taking over the presidency of the G20 in 2023. This means it has to show, among other things, its best in economic governance systems, which are comparable to advanced countries' systems.

Pranab Dhal Samanta Download
Don't Go Back in the USSR -- 08-Mar-22
There liability of military supplies from Russia is among India's core national security assumptions — the belief that Moscow and its web of Soviet-era defence manufacturers will service India like their own, regardless of the nature of conflict or adversary.

R R Rashmi Download
Let the Carbon Sink In -- 08-Mar-22
Two contrasting trends in the India State of Forest Report (ISFR) 2021 released on January 13 stand out. One, agrowth in the total forest area as a share of the country's total geographical area. Two, a decline in the area of natural forests, or quality or density of forest cover.

DB Venkatesh Varma Download
Sharp Focus on Eurasia and Globalisatio -- 07-Mar-22
It's been a fortnight since Russia commenced military operations in Ukraine, but the big battles are yet to come. Our concern rightly has been on the wellbeing of our nationals and in getting Indian students out to safety and back home.