Edits & Columns

Defanging retrospective tax: Better late than never

The success of this amendment will depend on how many of the 17 taxpayers agree to end the litigation by complying with the specified conditions
GOI has been taking steps including providing fiscal incentives and lowering of corporate income-tax rates to provide an impetus to economic growth and attracting FDI.

Digital ecosystem needs a regulatory rethink

India needs a proportionate and interoperable digital strategy to regulate the digital ecosystem

Such broad definitions will create confusion, and do more harm than promote transparency, access and delivery of goods and services through digital platforms.

75 years of Independence: Where we were in 1947, and where we are now

We must not only look back in anger at what we have not accomplished, but also should look back with wonder at what we have

The Indian economy was different then. Minoo Masani (1905-98) is all but forgotten now.

Distribution reforms to recharge India’s power sector

The Electricity (Amendment) Bill can help secure India’s renewable-energy future

The Bill empowers SERCs to fix RPO trajectories and also provides for penalties if such RPOs are not met. In 2019-20, only four states—Andhra Pradesh, Karnataka, Rajasthan and Tamil Nadu—achieved their RPO targets.

The Libor’s last tango: Important to get a sense of the costs of Libor regime ending & consequent shift to new benchmarks

It is important to get a sense of the cost of this change for Indian entities as well as RBI’s thought process on the benchmark to be used.

RBI had estimated in November 2020 that around $50 billion of debt and $281 billion in derivatives would expire after 2021.

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.

Impact of axing retrospective tax

It is a significant step forward, but govt must address a few lingering points of uncertainty and potential litigation

In a welcome, albeit delayed, step to end to this longstanding controversy, the Taxation Laws (Amendment) Bill 2021 (the Bill) has now been passed by the Lok Sabha, to withdraw the retrospective effect of these amendments.

Delicensing Indian power distribution

There are many potential benefits, but challenges, from strengthening of SERCs/CERC to negotiating subsidies, need to be addressed

The Bill empowers SERCs to fix RPO trajectories and also provides for penalties if such RPOs are not met. In 2019-20, only four states—Andhra Pradesh, Karnataka, Rajasthan and Tamil Nadu—achieved their RPO targets.

No ‘shot-cut’ out of the pandemic

Rich nations’ vaccine nationalism—the third (booster) dose proposals are one example—complicates the response to the pandemic

They will then have to go for even more booster shots. The only winners will be the virus and the vaccine companies.

Promoting entrepreneurship: Looking beyond ‘promoters’

Tech unicorns, which now symbolise the new-age Indian business space, necessitate a relook of norms designed when family-owned businesses dominated

Currently, the tabulated disclosures and compliances are to be followed by promoters under the SEBI Regulations.

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.

Labouring over LIBOR’s retirement

From deciding the alternative reference rates to designing products based on these, there are many hurdles

Libor. Libor latest, RBI

Parliament clears Bill to end retrospective tax

On Friday, speaking in the Lok Sabha, the minister had said the 2012 legislation, which is virtually being invalidated with the clarificatory amendment, was both ‘bad in law’ and ‘bad for the in

Of course, the amounts collected under retrospective tax claims — about `8,100 crore — will now be refunded sans interest.

Retrospective Tax Law: Good riddance to a bad taxation approach

The move to defang the 2012 retrospective tax law will boost investor sentiment

As was expected, the 2012 law drew the ire of investors as well as global taxpayer fraternity.

RBI walks the extra mile for growth

While the macro backdrop got further complicated in recent months, RBI’s contra-cyclical policy resolve appears strong

Given a stronger global recovery, uptick in commodity prices, sticky food inflation and rise in domestic fuel prices, inflation may stay too high for RBI’s comfort.

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.

Across the Aisle | Pandemic: Beyond the economy, writes P Chidambaram

India is doing worse than any of the other G-20 countries in vaccinating the adult population — only 10,81,27,846 people have received two doses of the vaccine against the target of 95-100 crore.

School girls practice for the 75th Independence Day function in Patiala (PTI Image)

Rape, caste and politics: Foolish attempts to change the narrative can never work, writes Tavleen Singh

Last week it was only when Dalit activists took to the streets in protest that arrests were made in the case of the nine-year-old Dalit girl who was allegedly raped and murdered by a priest and his th

The National Crime Records Bureau (NCRB) says it recorded 32,033 cases of rape in 2019, which means that 87 Indian women were raped every day. Of these, 15% were children.

Heartbreak! Aditi Ashok’s quest for a medal at Tokyo 2020 was the standout Indian performance at the Olympic Games

The Bengaluru golfers’ incredible performance at the ladies’ event at Tokyo 2020 was punctuated by abilities that would do a veteran proud.

Aditi Ashok

Revisit reservations in medical education

If doctors picked from under-served areas are more likely to inhabit and practise there than others, there arises a case to strategically reserve a proportion of seats for such aspirants

Had this been realised, we might have already had in place a more effective model and a more salubrious discourse on medical reservation.
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