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The Financial Express

The Financial Express

Articles By The Financial Express

6413 Articles

India-Russia ties multifaceted, but more ballast is needed on the economic front

The need is to address whatever barriers there are for closer economic engagement. Logistical difficulties in terms of the lack of direct transportation routes and inadequacy of banking linkages are perhaps the two most impor

It has been two decades since both nations signed a historic declaration on a Strategic Partnership and more than decade since it was elevated to a Special and Privileged Strategic Partnership.

Covid-19: Patents waiver crucial to vaccinating the world

Protection of billions of people in low-income countries matters more than the profitability of big pharma

While 54.6% of the world’s population has received at least one dose of vaccine, mostly in developed countries, only 6% of people in low-income countries have received at least one jab, according to Our World in Data.

Oil’s not well with domestic production

With elevated global oil prices, stepping up domestic production must be prioritised at all costs

To reduce vulnerability to high and volatile global prices, determined efforts must be made to increase the levels of relative self-sufficiency by stepping up domestic oil and gas production.

Kerala has the right idea with vaccine mandate

Wide two-dose vaccination coverage key to curbing further variants; need to fight hesitancy, vaccination inequity

The matter of mandatory vaccination was also considered by the Supreme Court in a November 29 hearing for a petition made by Dr Jacob Puliyel, a former member of the National Technical Advisory Group on Immunisation, who demanded that the data for the vaccine trials be made public, and sought a stay on vaccine mandates.

Democracy is a tango for two

Ramming through legislation besmirches the dignity of Parliament as much as unruly and disruptive conduct

PM Narendra Modi has called for, in many speeches in Parliament and outside it, respecting debate and dissent.

Headline Q2 growth numbers mask weaknesses

PFCE growth still modest; slow construction, trade and joblessness continue to be a drag

Moreover, at Rs 19.48 lakh crore, PFCE remains smaller than in both Q2FY21 and Q2FY20.

TFR fall to ease pressure on infra, resources

The TFR decline means India doesn’t have any compelling need for population control laws

Against the estimated 12-13 million jobs needed to be created every year to reap the demographic dividend, India has been faring unimpressively.

No hurry on banking licences for India Inc

RBI is right; India Inc doesn’t yet inspire confidence on upholding banking-sector ethics

Citing governance concerns and defaults by the two NBFCs in their various payment obligations, the RBI superseded their boards and appointed Sharma, former chief general manager, Bank of Baroda, as the administrator.

Play safe with cryptos, leverage blockchain

To begin with, we must ensure domestic credit is not chanelled into crypto-investments

Given this, the Indian government would do well to not back cryptocurrencies and to keep a close watch on them.

A rate cushion for compensation expiry

GoM likely to propose GST rate-hikes that prop up states’ finances; processes, too, must be made simpler

There is every possibility, therefore, the GST Council, will overlook the current inflationary environment.

WTO’s 12th Ministerial Conference: The road to Geneva

A raft of issues relevant for India will come up for discussion at the WTO ministerial

The way forward is to adopt a procedure wherein each nation, keeping its national interests in mind, makes withdrawal strategies to claim S&DT.

RBI lends weight to digital lending

It believes there are serious issues with lending practices and is, therefore, spelling out the rules

To this end, the RBI’s working group has done well to recommend the creation of a nodal agency to verify the technological credentials of all lending apps and also dedicated legislation to curb illegal lending.

Front-loading tax devolution: Centre does its bit, over to the states now

Higher than budgeted devolution of taxes to the states more than makes up for fuel-levy cuts

The revenue loss to the Centre, for the remaining part of the fiscal, is pegged at Rs 44,000 crore.

RBI is right, need to move with caution on cryptocurrencies

The underlying tech may be transformative, but cryptos’ impact on financial markets needs clarity

Depending on what form cryptocurrencies take on in India, there could be an adverse impact on monetary policy, possibly on the currency and fiscal stability.

Banks shouldn’t only be pleasing investors

RBI watching banks’ strategic decision-making closely will red-flag systemic risks

As Das said, banks must exhibit prudent risk-taking behaviour and use their capital efficiently.

More MGNREGS support needed

If there is genuine demand in rural India for jobs, the outlay for the MGNREGS should be enhanced.

Mahatma Gandhi National Rural Employment Scheme, MGNREGS, rural schemes, rural development, rural development schemes

Glasgow marks yet another failure to commit to meaningful green funding for developing nations

Countries have been quick to foist blame on each other over unrealised expectations, but they must remember the misery from climate action will be shared.

climate change, climate action, un climate agreement, climate deal 2021 coal agreement

A hard rain is falling: Cities like Chennai and Kochi show the need to get smart about extreme weather events

All the talk of smart cities can wait as Chennai urgently needs to upgrade its drainage and rainwater-harvesting facilities before the next northeastern monsoon arrive

Such extreme weather events, studies now show, have a definite link with warming, which is largely attributable to anthropogenic reasons.

All that glitter: More gold in RBI reserves adds to stability, but the central bank must hedge against depreciation

The RBI report has flagged options for active management of gold including making deposits and gold swaps with bullion banks, and exchange traded funds.

Rupee Cooperative Bank gets RBI extension

Clouds over OSOWOG: Geopolitical stability, Chinese ambitions need to be dealt with

One of the key questions will be of grid stability, which, in no small measure, will be derivative of geopolitical stability and building consensus among 140 nations.

At the same time, the costs of solar power is expected to fall by a fifth within the next 5 years. An interconnected, transnational grid also reduces the requirement for storage as the surplus power generated in one jurisdiction can serve another.

Shielding bona fide loan calls will spur credit growth

Loan-size ceiling under accountability guidelines needs to be raised, arrests must follow due probe, not FIRs

Even if banks fear that some of this may not come back—the government offers only a partial guarantee—they have been fairly enthusiastic about the ELCGS because the government has backed the scheme.

Haryana’s domicile quota will kill jobs as firms move to states that don’t mandate such restrictions

Reserving jobs in the private sector for locals will prompt companies to move to jurisdictions that don’t mandate such restrictions

Such narrow-minded and restrictive policies cannot encourage top corporations—or even smaller ones—to expand their businesses.

End app store hegemony; Google-Apple monopoly needs addressing, but sans sideloading

India, as also other jurisdictions, need to frame the right legislation to allow both app stores and apps to thrive. Such legislation needs to keep in mind, as it tries to tackle the anti-competitive effects of app-store domi

So, if Apple can demonstrate how side-loading could unravel its carefully crafted security blanket, it has a right to be heard and considered. But, that in no way should translate into a licence to become a hegemon.

Don’t renege on PPAs; Room for renegotiation may be created, but with penalties

Despite several schemes to revive the health of discoms—all bankrolled by the Centre—the states have failed to reform themselves. Much like the state-owned gencos, private sector players too deserve to be protected.

After all, states could default on the payments for power purchased, leaving the companies no better off.

India moving on early harvest agreements is good, but what is needed is FTAs

While India should be mindful of past experience, a higher level of ambition is definitely warranted

A Comprehensive Economic Partnership Agreement with the UAE is likely by March 2022.
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