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.
Reserve Bank of India’s (RBI) move to introduce portability of bank accounts to induce competition and improve banking and financial services is a great idea whose time has come. This one move would wake bank officials from deep slumber and force them to provide real time and cost effective services to their consumers.
The wheels have come off the bus, a high base effect has seen a slowing economy decelerate faster in the last quarter of the financial year that has just closed. Agriculture with a 5.2 per cent growth rate against 1.5 per cent in the corresponding period of the previous year has saved India the blushes yet again, ensuring the tipping point at 6.1 per cent.
Pump priming oil and gas output through investments and technology from old fields will definitely work to India’s advantage. Narendra Modi government’s move to hand out contracts to private sector players for deploying enhanced oil recovery (EOR) technology and processes with global best practices must be seen in this context.
Market watchdog, Securities and Exchange Board of India (Sebi) has rightly moved to tighten the screws on offshore derivative instruments (ODIs) used purely to manipulate select stock prices and profiteer through speculative trades.