Editors Column
Government’s chief economic adviser Arvind Subramanian will have to moderate the tone and tenor of his criticism against the Reserve Bank of India (RBI) and its monetary policy committee (MPC). The Mint Street versus North Block battle, now endemic over cutting interest rates, has shown greater dissonance develop between the two and this doesn’t augur well for a healthy financial system.
Foreign Secretary Subrahmanyam Jaishankar is more than confident that the standoff with China on the Boklam Plateau would be resolved amicably given a huge list of such incidents on the Arunachal Pradesh and Sikkim sectors in the past. The imaginary border which is not defined anywhere gives rise to such incidents due to perceived differences of opinion on what constitutes whose territory.
The attack by Lashkar e Taiba (LeT) terrorists on hapless pilgrims in South Kashmir late on Monday is a dastardly, inhuman act that was typically aimed at worsening the ground situation in the Valley.
On Monday, while Nifty, the main index of the National Stock Exchange (NSE) touched an all-time high level, its credibility and that of the processes being followed touched an all-time low. Trading at the NSE was halted for almost three hours for what NSE kept describing as a “technical glitch.”
Ten days into July, Goods and Services Tax (GST) continue to hog the headlines for one reason or the other. There’s no denying the fact that GST has turned out to be the biggest reform measure notwithstanding the glitches, limitations and uneasiness in several quarters.
Making electronic transactions safe and secure would be an imperative to taking banking digital. Reserve Bank of India's (RBI) latest norms to protect customers’ interest and limit their liability in online banking transactions are definitely a starting point.
There’s no logic in opening a window afresh to exchange old Rs 500 and Rs 1,000 currency notes that have long ceased to be legal tender following demonetisation.
The Securities and Exchange Board of India (Sebi)’s disappointment with the Indian credit rating agencies is understandable given the series of goof-ups in evaluating the individual enterprises or according a sovereign rating for India. Their failure to foresee the global markets collapse in 2008 is also well documented, proving beyond doubt that the rating agencies were not doing their job.
After all the drama and politics over its rollout, the good and service tax (GST) has finally got implemented. The aim of the GST is to reform the indirect tax structure in India, which was not only most complex in the world but made India a country with the highest incidence of regressive indirect taxes.
The stand-off between India and China over the Doklam plateau is the longest between the two countries in many years. Voices from Beijing suggest that the Chinese government has not been able to come to terms with the fact that Indian soldiers prevented the construction party of People’s Liberation Army (PLA) to build a road in the plateau claimed by Bhutan.