Editors Column
Prime Minister Narendra Modi’s condemnation of the murders committed in the garb of cow protection has not come a day too soon. Runaway nationalism that gets manifested in violence has no place in a society that aspires to be ‘vishwa guru’.
The open acreage licensing (OAL) policy proposed by oil minister Dharmendra Pradhan is unproven and tentative. Its efficacy is yet to be determined. Given that this new policy was untested, coming down heavily on new exploration licensing policy (Nelp) that held this country’s hydrocarbons exploration for 10 years, may not serve the purpose.
Going wholly digital has its own consequences. For one, India will become increasingly vulnerable to deadly cyber attacks, which are a reality today. It also means that the Indian economy would be subject to such attacks periodically like Europe, US and other countries have been.
The moot question being asked in political circles is this: where do Indo-US relations go after the hectic two-day whirlwind tour of prime minister Narendra Modi and his first engagement with president Donald Trump?
Every year when bank balance sheets are released in June and July, the issue of difference in compensation of high-level public sector bank (PSB) executives and their private sector counterparts comes to light.
This year is no different. Comparisons are being made between the salary of SBI chairperson Arundhati Bhattacharya and her peers in private sector banks.
Prime minister Narendra Modi and US president Donald Trump’s first meeting may not yield much in terms of big bang agreements. It explains why Modi’s spin doctors have rightly underplayed the visit in terms of outcomes and operative issues. The trickiest part of Modi’s visit would be to forge a working relationship with Trump’s Republican administration.
It is indeed unfair that state power agencies be burdened with unviable power assets of Tatas, Essar, Reliance, Adani and other major power generators, whose investments were based on imported coal. This is the first point that needs flagging in the aftermath of Tata’s proposal to sell 51 per cent stake in its Mundra ultra mega power project located on west coast in Gujarat for a token Re 1.
The Securities and Exchange Board of India (Sebi) decision to allow private investors takeover of stressed assets of companies without making a mandatory open offer, will boost RBI’s efforts to resolve the non-performing loans (NPAs) and assets issue.
Some traders and their lobbyists have described the anti-profiteering rules in the GST regime as draconian and harsh. While the anti-profiteering authority is yet to be set up, finance minister Arun Jaitley has mooted stringent rules for those attempting to cash-in without passing on the benefit of lower taxes on products and services to consumers.
The selection of Ram Nath Kovind as the Bharatiya Janata Party’s candidate for the presidential election is significant for more than one reason. It establishes once again prime minister Narendra Modi’s ability to spring a surprise. In this case, there was utmost secrecy in the manner in which Kovind’s name was finalised by him and BJP president Amit Shah.