Editorial

Editorial

Put an end to opacity, NSE

A farrago of ugly issues have been raised over the murky NSE algo case. New Securities and Exchange Board of India (Sebi) boss Ajay Tyagi is clear that NSE may need to refile its application for a stock listing. This comes in the wake of Financial Chronicle providing unadulterated and unalterable facts from a forensic report of NSE’s co-location facility (COLO) by Deloitte Touche Tohmatsu which showed preferential access by brokers, like OPG Securities, to the exchange trading system ahead of other members.

Hungry millions

The Indian enigma consists of situations like “grain mountains and hungry millions”, “agricultural progress coupled with persistence of malnutrition” and “green revolution fame concurrently with farmers suicides”. Since independence, several steps have been taken by both the state and Central governments to abolish hunger and malnutrition. This is because our independence was born in the backdrop of the Bengal Famine. Mahatma Gandhi also said at Noakhali that to the hungry, god is bread and that the god of bread should reside in every home and hut.

Dragon Days are here

This is a very crucial year for the People’s Republic of China. In autumn the Communist Party of China (CPC) will hold its 19th national party congress. At the center of the big event that happens every five years are major personnel decisions that determine the fate of various top level leaders and determine the power equations within the party for the coming five years or even beyond them.

Ideologies are myopic

While multinationals have stabilised in India, and recruitment portals are replete with the statistics of employment, we have to look at the various spaces people occupy mentally, while serving the nation.

A correction is coming

The Nifty closed about a per cent lower at 9,588 on profit booking, snapping its five-week winning streak. The index traded flat and sideways the entire week with banking shares in focus after the government initiated talks for consolidation of PSU lenders.
Oil prices dropped after US government data showed a smaller-than-expected weekly decline in domestic supplies and an increase in gasoline stockpiles and crude production. OPEC, meanwhile, reported ramped-up supplies from Libya and Nigeria.

The Trick is to save smart

Millions of Indians work hard every day to earn and have a better living, we plan to save once we receive our income in hand, but when we receive the money in hand we see that we have a whole lot of expenses, that we are unable to save what we actually planned to save… Does this happen to you?
If yes you needn’t worry this is the situation of many individuals and this will continue to haunt us until we change our mindset and arrest our expenses.

Cut & Thrust: Don’t bear with looters

Truth has a mind of its own. It always emerges and the more you bottle it, the more it wants to burst out and be heard. Equally, crocodiles are always lurking at watering holes, waiting for their unsuspecting prey. Combine these two tales and you have a spanking new narrative of investor activism in India. One that is actually helping vast legionnaires of hapless investors who don’t get heard at all for most part. In recent months, one has seen investor activism using its heft hitherto not visible to aggressively come to the rescue of fellow shareholders.

Tackle the root cause

The agrarian crisis, now affecting small and marginal farmers in several states, arises largely from the unfavourable cost-risk and return structure of farming. The chronic problems of low productivity and market volatility are, however, being addressed mainly through loan waivers. While this might give some short-term relief to farmers, it will not help to ensure the long-term economic viability of agriculture. The answers lie in enhancing the productivity of small farms and ensuring adequate public procurement at remunerative prices.

Tractor input cost to go up

The Tractor Manufacturers’ Association (TMA) has said the proposed GST rate of 28 per cent for components will raise input costs by Rs 25,000 a tractor and impact farmers and agriculture alike. It has also urged the government to reduce the duty for all tractor components to 18 per cent from 28 per cent.
This anomaly is due to GST’s downward revision being limited to token components of a tractor wh­ile major aggregates such as engines, transmissions and other parts will continue to be levied at 28 per cent.

Let’s Be accountable

The Indian Accounting Standards (Ind AS) is not alien to anyone in India anymore. Last year has been a landmark year in making Phase I companies Ind AS complaint — i.e. shaping them into this new accounting framework converged with the IFRS. Through this, the journey towards global reporting standards has marked its foot in the country. It is a small step by regulators, but a giant leap for Indian corporates.

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