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Economy and Business

Public sector banks have done yeoman service to the country by providing timely long-term finance to infrastructure and core sector projects in the last decade. But, when commodity prices crashed internationally, steel and other projects took a big hit, causing huge problems for them.


It comes as no surprise that after Cholamandalam, Dilip Sanghvi along with IDFC Bank and Telenor Financial Services have decided to give up their interest to start a payments bank. 


Hype and hyperbole are temptations to which government officials, in particular, must not succumb. Yet, it is difficult not to view the Goods and Services Tax (GST) Bill as a game-changing reform for the country; and, when it happens, it would be curmudgeonly not to acknowledge its passage as a major, historic achievement. Why is GST important? What can be said about its design? How does it compare with similar tax reform in other countries? Consider each question in turn.


The Civil Aviation Ministry has seen the entry of a new Minister of State, Jayant Sinha, shortly after the launch of a new policy which will have major ramifications for the industry. Mr Sinha’s shifting is being widely speculated on, as he was considered a perfect fit for his previous role in the Finance Ministry as MoS to Arun Jaitley, with his Harvard and McKinsey background. One theory is that his father, Yashwant Sinha’s public criticism of the Prime Minister’s policies has led to this shift. 



Bitcoin has emerged as an alternative asset class, delivering high returns in the past few years but not without equally high risks. A year before, the crypto-currency was quoting at $260 a unit. In the past six weeks, the price has risen to $640, following the British vote to exit (Brexit) the European Union and a depreciating Chinese currency. In India, each bitcoin is worth Rs 44,000-45,000.


Britain’s vote to exit the European Union (EU) dents the idea that a single market is good for society. Even if by a close margin, the UK has voted to delink from the European market. The UK was the least integrated in the EU since it did not join the currency union and also asserted its political independence more than other European nations did. It did derive economic benefits by being part of the EU via increased trade and easier financial flows. London’s status as a key financial centre in the world is substantially due to Britain’s membership of the EU. No wonder, London wanted to `Remain’ and Londoners are signing a petition for London to become a city state and remain in the EU. A majority in Scotland and Northern Ireland also wants to stay in the EU. Thus, only the majority in England and Wales wants to quit the single market.


In 1980, the Export Oriented Unit (EoU) Scheme was launched in India to boost exports and increase production. Although a number of provisions and exemptions, including both fiscal and non-fiscal benefits, have been extended to the Scheme, the performance of EoUs has been far from satisfactory, particularly in the past few years.


The online National Agricultural Market can become a game changer only if it sorts out some critical offline challenges


The Finance Act, 2016, amended the RBI Act, 1934, making flexible  inflation targeting the law. This quietly paves the way for the central bank to set the policy rate in collaboration with the Union Government so as to stabilise inflation around the targeted rate and the real economy.


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The India-Pakistan diplomatic war-dance and military brinkmanship continues unabated. India on Thursday (October 21) asked a Pakistan High Commission staffer in New Delhi to leave the country for allegedly running an espionage ring that was busted with the arrest of two Indians possessing sensitive defence documents.


The first India-Palestine Joint Committee Meeting (JCM) signifies New Delhi’s commitment towards economic development and well being of Palestine writes Muddassir Quamar for South Asia Monitor

In the past few weeks, the Indus Water Treaty has come under renewed focus by the Indian Government and the media.  The Indian Government decided to suspend  the Indus water commission and increase the utilization of rivers flowing through J&K to maximize India’s share, but no decision has been taken to review ...

Senior ISIS leaders have been forced to accept that they will lose their caliphate in Syria and Iraq and see terrorist attacks in the West as the way forward for jihad, according to foreign fighters who are abandoning the Islamist group as it faces an onslaught in Mosul and an impending attack on Raqqa.

Since my last visit five years ago I have keenly observed India’s political, economic and social transformation, and welcomed the increasingly active role India is playing internationally. I have also witnessed the growing personal ties between New Zealand and India, supported by our diaspora communities and our education, tou...


Address by M.J. Akbar, Minister of State for External Affairs on Regional Integration and Prosperity at Brussels Conference on Afghanistan (October 5, 2016). Read more inside...

The West is struggling to adjust to a sense of relative powerlessness. At the moment it is just firefighting. Russia and the US are trying to achieve broadly similar objectives in Aleppo and Mosul — restoring the sovereignty of controllable, authoritarian, central governments.

Anthony ensured that the equipping of our military came down to 1962 levels, but Parrikar, together with the present government, appears to be hell bent upon denigrating the soldiers and denying them their dues. Taking cover behind ‘mischievous bureaucrats’ can’t work anymore; responsibilities will have to be taken...


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...


The book, written in the manner of a series of case studies, also points to the lack of a clearly enunciated national security strategy, a defence situational review, a defence strategy and a joint strategy for the armed forces -- all of this h...


The book ‘Pakistan at crossroads: Domestic Dynamics and External Pressures’  is one of the few books in recent years which fixes spotlight on various aspects of Pakistan; the internal flummoxing situation and external forces wh...


In a region which is unexplored as an asset class, performance will be the kingmaker. This book includes the author’s CDCF Portfolio basket for the SAARC asset class, which selects the best fundamental-p...


Sri Lanka has to be the most beautiful country I have ever seen, says John Gimlette, an accomplished travel writer who journeys to the island nation at the end of a long and brutal civil war. Anyone who has se...

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