Edits & Columns

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.

RBI report on digital lending: The path ahead for digital lending

RBI working group report takes a balanced view, calling for specific regulatory interventions to reduce concentration risk and eliminate regulatory arbitrage; the report highlights neo-banking and DeF

These include overleveraging of customers, usurious rates, collection methods not in line with regulatory prescriptions, regulatory arbitrage, etc.

Growth recovers from the second wave

The baseline view points towards rising inflation, cyclical recovery and policy normalisation

The Q3 GDP outturn is marginally above RBI’s projection of 7.9% y-o-y and confirms the economic recovery from the second wave.

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.

For atmanirbharta in electronics…

…we need to make hardware PLI more responsive and take a pragmatic view on Chinese investment in India in the space

The China issue is an emotive one for Indians, which makes it difficult to have a logical discussion, even among policymakers, and it remains the proverbial elephant in the room.

National Health Accounts 2017-18: Faster movement towards a distant goal

Out-of-pocket expenditure on healthcare is falling, but to realise Universal Health Coverage, India needs much more government investment, especially from states. Compared to OOPE estimates of 69.4% o

Many advanced economies have institutionalised NHA within their health systems. India envisioned it in the National Health Policy (NHP) of 2002.

Towards universal credit inclusion

Multiplicity of regulations can hamper the growth of the nascent digital lending sector. Much of the innovation is currently driven by younger start-ups, and these have limited ability to invest in co

Reinterpreting them in context of digital lending—where screen space is scant and attention is scarcer—is a welcome step.

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.

Growth prospects: Urban-led growth in the offing

Even as consumption revival remains a key theme in FY23, unleashing the full potential of consumption demand will require constant policy effort to create jobs

To clarify, we do not expect a sustained or multi-year revival in investment demand, which requires capacity utilisation above 75% on a consistent basis.

COP26: Forward march!

Glasgow shows ratcheting up of the scope and ambition of climate action is working

More than 150 countries, including India, have articulated enhanced ambition for emission reduction

What does the Winter Session hold for digital rights?

Ultimately, a progressive data protection regime that protects user privacy is crucial for an emerging economy like India

While the Opposition asked for a debate on the issue, the presiding officers of the Houses did not allow it.

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.

Regulating digital lending

Implementing the recommendations in the recent report of the RBI working group on digital lending could lead to consolidation in the space. Technology intermediaries and smaller platforms will likely

The report makes the important point that the digital lending sector has evolved to a point where there is now a regulatory gap that needs to be plugged with laws that address issues specific to digital lending.

The Fed is way behind the curve

It has been making nervous noises but it has just started tinkering at the edges, hoping it doesn’t have to really crank things higher. Too many analysts/pundits and, indeed, central bankers are sti

The fourth (or fifth) wave of the pandemic, which has surprised people in Europe and the US, could again create inflationary pressures, since the supply chain issues that remain difficult would be exacerbated in a few months.

Boardrooms must get real on climate-aligned business

As long as ESG compliance is only a check-the-box exercise, companies will run the risk of extensive damage to their investment. As with the real economy, the financial sector must transform, from gui

Worryingly, boardrooms remain mostly ignorant about the climate crisis.

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.

The Siege of Dubai

Collin Morikawa becomes the first American to win the European Tour’s Order-of-Merit

Collin Morikawa, the 24-year-old American who’s gone deep into foreign territory and come back with the European Tour’s biggest prize—the Race to Dubai—is without question, American golf’s biggest star of 2021.

Across the Aisle by P Chidambaram: Big, rich and unaccountable

Just as we will not endure a king as ruler, we ought not to endure a ruler who wants to be king. Many countries have term limits on their President or Prime Minister because he/she could acquire absol

A farmer prepares 'langar' at Singhu border to mark the one-year anniversary of farmers' agitation, in New Delhi (PTI Image)

We must never forget 26/11

It is easy to understand why, when there was a Congress Prime Minister in Delhi, he preferred to forget what happened in the hope that everyone would forget the terrible mistakes made during the attac

As someone who spends many months of the year in Mumbai, it shames me to report that if Pakistan wanted to repeat what happened 13 years ago, it easily could.

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.

Rate action: The Fed must think creatively again

By fixating on the risks of a Japanese-style deflation, the Fed all but ignored the possibility of a major upside inflation surprise

The challenge comes with normalisation—restoring monetary policy to pre-crisis settings. And for both the conventional benchmark policy interest rate and the unconventional balance sheet, the Fed has yet to figure this out.

Indo-US trade partnership: Different approach, brighter prospects

Avoiding mention of an FTA during the recent visit of the USTR to India reflects policy maturity and pragmatism on both sides

India, did, however, stay engaged with the US on a bilateral trade deal.

Farm distress stalks the growth story

Farm-laws repeal notwithstanding, states will continue to pursue agri-reforms

The saga of the farmer agitation is yet another manifestation of the narrative of farmer distress that stalks the India growth story.

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.
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