Allowing as many high net-worth individuals and companies as possible to freely bid for stressed assets will prove to be beneficial in cleaning up non-performing assets (NPAs) of banks. The amended Insolvency and Bankruptcy Code (IBC)-related Ordinance promulgated by president Ram Nath Kovind would come up before Parliament in the Winter Session of Parliament.
Ignoring the politics, drama and electoral hoopla behind the seaplane that carried prime minister Narendra Modi to Dharoi dam, 180km away from Sabarmati riverfront, may be difficult. But Modi seems to have conveyed to staunch opponents in Congress that he’s not bereft of ideas for Gujarat by hopping on the US-made single engine seaplane.
Donald Trump administration has no business in subverting the World Trade Organization’s (WTO) Doha development agenda. Having withdrawn from International Solar Alliance (ISA) and Trans Pacific Partnership (TPP), Republican administration in the US seems to be making a case to pull out of the WTO.
After a couple of months of quiet time, the merchant discount rate (MDR) controversy is back to making headlines. This time it is RBI that has jumped into the fray by defining merchant discount rate. Instead of having rates based on value of transactions, RBI has decided to slot merchants into different categories and based on their previous year turnover they would be charged MDR.
In a landmark for cryptocurrency, bitcoin has, presumably, made its Wall Street debut at 2300 GMT on Sunday, creating consternations in some quarters and excitement in others. By the time you read this, the highly volatile digital currency based on the block chain technology would have opened trading on the Cboe Futures Exchange in Chicago.
Leaders like Mani Shankar Aiyar and Kapil Sibal appear to have become the nemesis for the opposition Congress in the Gujarat assembly elections. A campaign built up painstakingly by the Congress president-elect Rahul Gandhi in the western state seems to have lost momentum, crucially days before the voting.
Revenue mobilisation alone cannot be the criterion to levy taxes by governments at the Centre and states. Fairness, probity and principle of equity must guide finance ministers in deciding the tax rates.
The annual foreign trade policy review seems to have lost its sheen. Hitherto, it was billed as the third biggest economic event in a financial year after the Union budget and railways budget. Suresh Prabhu was instrumental in scrapping a separate railways budget beginning last financial year. It got subsumed into the federal budget presented by finance minister Arun Jaitley.
Repeated instances of how some private hospitals, testing laboratories, doctors and referral agents have turned healthcare into a well-oiled mafia-like operation calls for changes in the law and an overhaul of healthcare administration that will provide exemplary punishment to the guilty.
Jubilation over 6.3 per cent second quarter GDP growth is premature given the continuing uncertainties that continue to stare in sustaining this momentum. True, the bottoming out has happened, giving a huge thumbs down to the doomsayers. GDP growth at 6.3 per cent in June-September quarter over 5.7 per cent in the previous quarter is significant for more than one reason.