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Economy and Business
It was as far back as 1990 when I coined the phrase Bis-mil-muflis, or “I begin in the name of the poor” (with help from my good friend, Saeed Naqvi) to characterise the attitude of the government and Left intellectuals towards policy formation and execution (Bis-mil-muflis—And why anti-market policies hurt the poor, SUNDAY, 7-13 January, 1990).  
 
Yesterday, two colleagues in a multinational company were chatting about the recent move of the Narendra Modi government abolishing 500- and 1000-rupee notes. One of them said, “It really is a good move for curbing black money and ending circulation of fake money.” The other one responded saying, “I am already feeling at par with the rich. Our (salaried class) value proposition has increased now!”  
 
Demonetisation of Rs 500 and Rs 1,000 notes will expand the size of economy, increase revenue base and make the system cleaner while preserving its credibility, Finance Minister Arun Jaitley said today.  
 
At the same time, the department of industrial policy and promotion with the World Bank also put out a comparison of Indian states on how their EoDB has been performing. Thus, India has been lately focusing more on the aspect of ease of doing business.   
 
As India achieves a high rate of GDP growth, the highest in the world, will inequality of incomes be reduced? The Gini coefficient that measures inequality has risen from 45 per cent in1990 to 51.4 per cent in 2013 (coefficient of 100 signifies maximum inequality and 0 means perfect equality).   
 
These are sombre times for the department of industrial policy and promotion (DIPP). Two years ago, it had been tasked by the prime minister to haul India’s Ease of Doing Business rank from 142 to the top 50. However last week, when the World Bank declared the latest rankings, India limped up only one spot from last year to 130.  
 
The root of the Indian patent system lies at the heart of the British colonial administration. With the coming of the World Trade Organisation (WTO)-Trade Related Aspects of the Intellectual Property Rights (TRIPS) in 1995, the Government of India had to bring massive changes to its original patent law of 1970.  
 
The World Bank’s Doing Business ranking has unnerved many in the power corridors of Delhi. India’s ranking of 130 out of the 190 countries surveyed, paints a dismal picture.   
 

The problem with multiple rate categories is that it complicates the structure, adds to both administrative and compliance costs, leads to classification disputes and opens up avenues for special interest groups to lobby for lower rates

 

Regulation — which is based on force and fear — undermines the moral base of business dealings,” said Alan Greenspan, American economist (former chair, Federal Reserve of United States)

 


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Review
 
 
 
 
The sixth ministerial conference of Heart of Asia (HoA) - Istanbul Process is all set to begin in Amritsar from today. Prime Minister Narendra Modi and Afghanistan President Ashraf Ghani besides representatives from various countries would participate in the conference.
 
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Does Pakistan’s green lighting of the Russian request to use the strategic Gwadar Port for its exports, signal a new alignment in regional power play? Not really, writes Monish Gulati
 
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Fidel Castro was a symbol of revolution and inspiration to most of his followers. His insubordination to US power made him a beacon of resistance in Latin America and elsewhere, and his bushy beard, long Cuban cigar and green fatigues became universal symbols of rebellion, writes Amity Saha for South Asia Monitor.
 
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Since Donald Trump’s shock victory last month, the Democratic Party and its supporters have plunged into a cantankerous inquest. The search for answers has lingered on voters in the “Rust Belt” states of Pennsylvania, Michigan, and Wisconsin, areas of the country that haemorrhaged manufacturing jobs in recent decades.
 
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US President Barack Obama’s pivot to Asia, such as it was, is an endangered species in the Trump era. Looking back, was it in essence more rhetoric than a policy to be implemented? Leaders of South-east Asia, East Asia and further afield are asking themselves this question.a
 
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I thank Excellency Ghani for accepting my invitation and for gracing this conference. It is also a great privilege for me to welcome all of you in Amritsar, a city blessed with simplicity, beauty and spirituality, and abode to the Golden Temple, the holiest shrines of Sikhs.   
 
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The traditional ties between India and the United Arab Emirates have,  over the decades grown, riding on the strength of trade and investments. The Crown Prince Sheikh Mohammed bin Zayed Al Nahyan will be the chief guest for the 2017 Republic Day
 
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Pathankot in the Punjab, a strategic IAF base, Uri, a sensitive Army post in the Kashmir Valley, both close to the Pakistan border, and now Nagrota, a major base of the Indian Army deep inside the Jammu region close to Jammu city, all were attacked by Islamic terrorist groups which penetrated, the inner-most security cordons.
 
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An aching sense of love, loss and yearning permeate this work of fiction which, however, reads like a personal narrative set in an intensely disruptive period of Indian history, and adds to the genre of partition literature, writes Ni...

 
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This is a path-breaking work on India's foreign policy since Narendra Modi became the Prime Minister in May 2014 and surprised everyone by taking virtual charge of the external affairs portfolio. A man who had been denied visa by some count...

 
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The pattern of Chinese actions on the global stage demonstrates that it lives by the credo of might is right, a potent tool in its armoury for the pursuit of aggressive designs, writes Sudip Talukdar for South Asia Monitor....

 
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The Tehrik-e-Taliban Pakistan, Lashkar-e-Taiba, Jaish-e-Mohammad and others of their ilk not only destabilise Pakistan and make it one of the world's most dangerous places but also threaten neighbouring Afghanistan and India -- and even far...

 
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