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The Financial Express

The Financial Express

Articles By The Financial Express

6268 Articles

Focus on LPG adoption: PMUY coverage a success-story, but low refills a dampener

Ujjwala 2.0 targets one crore new LPG connections for eligible beneficiaries—women from BPL, SC/ST, AAY, MBC, tea-garden worker, forest-dwelling, island-dwelling households—while a special focus is migrant workers.

Thus, the transition to LPG, sans larger cost-support targeted at beneficiary households, has mean that adoption has lagged coverage.

Govt needs to act to spur private investment

Draft e-commerce rules a good example of policy that discourages private sector, compliance-need elsewhere also daunting

The compounded growth in net profits for India Inc, over the five years starting FY17, was 11.6%—with an outstanding 55% jump in FY21.

Decriminalising politics: Supreme Court makes another strike; ECI, others must do their bit

The SC forbidding governments from dropping cases against sitting and former lawmakers without approval from the High Court is a step forward in cleaning up politics.

The SC forbidding governments from dropping cases against sitting and former lawmakers without approval from the High Court is a step forward in cleaning up politics.

Make e-commerce rules less stringent

Promoting small retailers is the govt’s prerogative, but it can’t happen at the cost of e-commerce companies

The compounded growth in net profits for India Inc, over the five years starting FY17, was 11.6%—with an outstanding 55% jump in FY21.

Walking the green-talk

IPCC sounds Code Red on climate; rich nations must do more

While India is one of the handful of nations that are on track to meet their Paris commitments, this is nowhere near enough.

Syncing control and culpability

‘Persons in control’ regime recognises changed realities; contextually include FPIs, institutional investors in definition, too

Although the protection exists in the law, it is too often forgotten.

Privatising PSBs is the way to go

Parl panel is wrong to believe the stress is transient, recoveries alone can’t strengthen balance-sheets; growth capital is needed

Three decades later, most PSBs need support. Too much taxpayer money has been spent on them, it is time to let them go.

Ensure Covid-19 vaccine equity: Covax struggling, rich nations must support it

Some countries have donated vaccine doses to the programme, but this is nowhere near enough for the programme to meaningfully deliver on its commitments.

RBI signals a turn towards normalisation

At a time when the Centre is reluctant to spend too much, and a third wave looks likely, affordable interest rates help

The central bank has given them a heads up, telling them clearly it intends to start soaking up liquidity soon; the excess liquidity is already an unseemly Rs 8 lakh crore.

Retrospective tax goes, not soon enough

Odd that the govt took this long to see sense on the matter, but this is the first step towards a less-litigious tax landscape

There is no doubt the NDA government has avoided substantive retrospective tax, but it has not been too successful in resolving tax matters, as the pile-up of cases shows.

Need an urban jobs scheme: It can be designed to keep costs to the govt & impact on wages low

The increased demand for MGNREGA jobs following the pandemic shows that the flagship jobs scheme was able to absorb some of the increased demand in rural areas as migrants returned home.

But, for a more sustainable urban employment scenario, the government has to think of an urban jobs scheme.

Voda-Idea collapse a warning to investors

India’s investment-lucrativeness is greatly dulled by it, telecom market and infrastructure will suffer if the firm exits

As for the country’s reputation as an investment destination, it is in shreds.

Grit and glory, but gold?

India needs far larger investment in sports than it sees currently

However, despite the grit and gumption, gold (and more silver and more bronze) still eludes, Olympics after Olympics, championship after championship.

Revenue picture robust, govt must trim fuel levies

Given there’s been no direct stimulus—and likely none coming—high fuel taxes and their impact on inflation are unconscionable

Going by the current trend, most economists expect the collections to be at least 12-13% higher.

Kerala’s Covid concern: State’s test positivity rate is now inching upwards

The state can’t afford to let its guard down, like it did during Eid

It will have to keep up the momentum on this. Meanwhile, the testing and tracing excellence it has become synonymous with needs to be maintained.

Beyond Periodic Labour Force Survey numbers, labour outlook is bleak

PLFS findings notwithstanding, the number of Indians earning a decent wage in the years to come may be smaller than before

economy

Medicine that doesn’t work: Higher quotas mean lower chances of India being a medical power

The actual numbers may seem small, but given there are just 85,000 UG and 55,000 PG medical seats in the entire country, the pool for merit shrinks significantly.

However, the timing is also extremely important, given the assembly elections in six states, including Uttar Pradesh, next year. Bear in mind, OBCs constitute a significant proportion of UP’s population.

Caring for the elderly: More facilities needed, rope in institutions like places of worship

Abandonment, as defined by the new Bill, will invite a longer jail term than provided for by the 2007 Act.

The Bill also proposes to do away with the Rs 10,000-ceiling for maintenance amount payable to parents, keeping view the fact that the amount needs to reflect the needs of the parents and the capabilities of the children. (Representative image)

SEBI must correct stand on superior voting rights

The intent may be to make it easier for new-age tech firms to list in India, but the bearing on corporate governance outweighs this

Sebi

Listen to Tesla, Hyundai on duties: Some duty relief for a temporary period would be a nice gesture & benefit India in long run

Investors like Tesla can make a big difference to the ecosystem, and if the government is serious about the environment and promoting clean energy, it should be willing to give up some revenue.

Kim’s case is that companies need time to localise production of components and, until then, imports could help generate some demand for EVs.

Greening coal-based power: Govt must seriously mull over shutting old, polluting plants

The government (both states and the Centre) must summon the political will to act against inefficient coal-based plants.

So, in a perverse way, the worse polluters will be allowed to pollute for longer.

Make-in-India must ‘make for the world’

Govt must lower tariff protections for domestic manufacturers to spur them to become globally competitive

Unless there is a low and stable tariff regime, companies will not be encouraged to think global and invest for the long term.

Free up online education

Credits through Swayam good, but regressive rules need to go

That apart, the antediluvian provisions of the UGC (Open and Distance Learning Programmes and Online Programmes) Regulations, 2020, need to go

India Inc’s pain isn’t over yet

Rural demand under a cloud, no stimulus likely; vital that jobs-scenario improves and transport, hospitality, etc, recover

Premium and high-end brands will do well but products in the affordable category might feel the pressure.

Compensate For Surrogacy: Without this, women are denied reproductive autonomy

The fixation with altruistic surrogacy as some sort of ‘exemplary’, ‘noble’ action, with ‘compassion’ being the prime driver rather than economic gain, serves little real-world purpose.

AGR dues: Govt must work to ease Vodafone-Idea’s pain

SC’s AGR ruling latest blow to the company; if it bows out, the telecom space will be left a duopoly

Even though Trai later came up with a technical paper explaining why the call-drops were not the fault of the telcos, it did not drop the recommendation of a penalty.

Mandating Covid shots: India must consider a referendum on this

The hard reality for India is that data from the Covid Symptom Survey, conducted by Facebook and the University of Maryland earlier this year, shows relatively high levels of vaccine hesitancy.

States must adopt the right strategies to make people aware in the long-term, but the urgency in terms of expanding vaccine cover to prevent another ugly wave can’t be underscored enough.
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