The writer is chairman, Teamlease Services.
The RBI working group challenges us to shift Indian banking to being open, big and inclusive from its current closed, small and exclusive form. No change is finalised, but let’s have an open debate without canceling the question.
Ant IPO drama exposes China's contradictions. As global economic gravity shifts to Asia, financial services entrepreneurs must be empowered to seize the opportunity
It sabotages economic justice because fiscally funding banking diverts money from education, health and skilling expenditure.
The recent reform is substantial but must be followed by civil service, banking, compliance, decentralisation, and urban reform.
Let's ignore the breathless demands for the government to borrow 10 lakh crore by stealing from our grandchildren. Let’s, instead, create climate change for our entrepreneurs, firms, and citizens with reforms that will give them economic Poorna Swaraj.
Manish Sabharwal writes: God willing, we won’t test the RBI’s COVID worst-case scenario of 14.7 per cent bad loans but handling the inevitable COVID bank pain needs resisting short-termism. In the long run, we are not all dead.
India’s current gap between the digitisation of the private sector and government often reflects the 1972 Dandekar Committee recommendation that no entity install a computer without first “justifying” its use to employees and their trade unions.
Education reforms are an endeavour of profound optimism but have been stifled by purists, vested interests, and regulators. It is illogical to deny the poorna swaraj that comes with the Institutes of Eminence tag to Ashoka University and Ahmedabad University or pursue regulation-driven standardisation for our 993 universities.
The COVID-19 lockdown exposes how per capita GDP is more important for our citizens than total GDP.
The RBI must remember three things — acting prudently to balance the next quarter and quarter century, acting flexibly to blunt this economic cataclysm, and acting within their mandate to ensure institutional legitimacy and immunity.
April 15 and May 1 are important milestones for employers and economic policy. The lockdown’s continuance, partial lifting or end must be decided on purely medical grounds (even though it turns out epidemiologists are like economists — they don’t agree with their past selves or each other).
There is more work to be done. The central government must deadline digitising all its payments. The RBI must implement the 100-plus action items arising from its own Vision 2021 document and the Nandan Nilekani Committee for Deepening Digital Payments.
Why is the GDP of 1.3 billion Indians less than 126 million Japanese, 83 million Germans and 40 million people in California? Why is India’s GDP today 20 per cent of China’s when they were equal in 1991? Why did the world’s largest democracy — created on the infertile soil of the world’s most hierarchical society — not create the world’s largest economy?
The current economic slowdown is short-term pain for long-term gain because of overdue medicine.
Kashmiris have been let down by a politics that doesn’t create economic opportunity.
India’s policy choices around bankruptcy represent a rupture with the past. But there is work yet to be done
Policy must pray to one god — formal jobs.
India’s bad loan policy is finally moving in the right direction.
India’s challenge is creating a complex ecosystem of high-productivity firms.
The regulatory framework that has choked MSMEs has contributed to farm crisis and quota demands.
Ease of doing business is more like Ludo. The detailed incremental improvements must be celebrated.
It’s not a passing shower but climate change for banks. About time.
State must be both — to tackle both corruption and poverty. Political parties must stop fighting yesterday’s wars
A massive enterprise formalisation is taking place, and one year of GST has given the process a boost.
Delhi’s move to introduce spoken English lessons for govt school students taps into a long-felt desire.