Editors Column
Narendra Modi government has just widened the arc of its campaign against black money and parallel cash economy. Unfortunately this obsession with black money is not giving handsome dividends — IDs came with trumped up numbers, the overseas amnesty scheme was a flop show and the most recent declaration scheme resulted in unearthing just Rs 5,000 crore.
Artificial barriers on movement or citizenship issues have failed to prevent Indians from finding their metier. Despite the restrictive measures undertaken by the Trump administration in the US and prime minister Theresa May in the UK, there is no stopping for Indian technology professionals from making a mark.
After having gone through anxiety pangs, the mood has suddenly changed to one of exuberance and bonhomie in most retail markets as the country gets ready to ring in the single impost, goods and services tax (GST) in two weeks.
Employment and job creation may not be the strongest point of this government and certainly not a talking point. Its track record in generating jobs over the last three years remains a chimera.
Reviving a decelerating economy and putting it on a high growth trajectory depends heavily on resolving the stressed assets and loans held by state-run banks. An early resolution of rampant defaults by corporate sector must be resolved at the earliest to bring the economy back on a healthy growth curve.
Just three Indian institutions have made it to the list of 200 top universities globally, as per QS World Rankings released on Thursday. The Indian Institute of Technology (IIT) in Delhi and Mumbai and the Indian Institute of Sciences (IIS), Bangalore, are the only three organisations that figure in the global education sweepstakes.
Difference of opinion between RBI and the NDA government on interest rates, inflation projections and economic growth in itself is not bad at all. But, not being on talking terms is a serious cause for concern.
Farmers are out on the streets in Madhya Pradesh and Maharastra seeking better support prices and loan waivers on the lines of a decision announced by Uttar Pradesh government led by Yogi Adityanath. UP’s decision was bound to have a multiplier effect. And so it has become a millstone around other state BJP governments.
The successful launch of the indigenously-developed cryogenic engine powered heavy-duty rocket GSLV Mk-III carrying a 3,136 kg GSAT-19 communication satellite in the very first attempt should rightly be celebrated as a historic moment.
The government recently decided to reduce the remunerations of the heads of all 11 regulatory bodies by nearly half. According to the new guidelines, the existing chairpersons as well as future appointees will be eligible for maximum basic pay not exceeding Rs 2,25,000, down from Rs 4,50,000 as recommended by 7th Pay Commission. There is more.