Manufacturing: Getting to the 25% mark -
Nirvikar Singh, Financial Express
India’s manufacturing sector has played an unusual role in the national growth experience, compared to many other developing countries. In 1950-51, manufacturing was about 9% of GDP. By 1979-80, this ratio came very close to 15%, but thereafter has barely increased. In this context, the National Manufacturing Policy’s (NMP) goal of increasing manufacturing’s share to 25% by 2022 is ambitious indeed. |
Oil price collusion would be a Libor-scale scandal -
Kevin Allison, Business Standard
If the suspicions of European authorities are true, and oil traders conspired to rig published energy prices, global markets could be looking at a scandal bigger than Libor. One thing is certain. The ongoing debate about the integrity of the energy benchmarks compiled by price-reporting agencies such as Platts, Argus and ICIS Heren has taken a dramatic turn with Tuesday's raids on the offices of Shell, BP and Statoil. |
Global firms bet on India's spending power -
Business Standard
Global companies betting on India's potential as a consumer market are looking beyond the worst patch in a decade for Asia's third-largest economy and investing billions of dollars in the country. |
Perils of an ad hoc forex policy -
TB Kapali, Business Line
In a speech that he gave last month at the International Monetary Fund, the Reserve Bank of India (RBI) Governor, Duvvuri Subbarao, posed several questions about countries’ policies on foreign exchange market intervention and their holding of reserves. |
Corus, Ranbaxy & the curse: Deals that happen in auction like atmosphere always go bad -
Brian Carvalho, Economic Times
A little over six years after Tata Steel acquired Corus for roughly $11 billion during the Indian economy's high-growth phase of the past decade, the glorious ambition of an Indian steel giant to be a global player is under scrutiny. |
Dholera’s Rs70,000-crore cure for investment famine -
Sunil Jain, Financial Express
The Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) has already got 105 sq km for Phase 1 of its upcoming R70,000-crore city at Dholera in Gujarat, 110 km from Ahmedabad. The 903-sq km city — of which 540 sq km is developable as the rest falls in the coastal regulation zone (CRZ) area — is to be developed in six phases. Town planning for two of the phases has been done — 152 sq km — while the other four are to be done over the rest of the year and, according to DMICDC CEO & MD Amitabh Kant, construction work on the city should be able to start within the next 6 months. |
The Internet destroyed the middle class -
Scott Timberg, Salon
Jaron Lanier is a computer science pioneer who has grown gradually disenchanted with the online world since his early days popularizing the idea of virtual reality. “Lanier is often described as ‘visionary,’ ” Jennifer Kahn wrote in a 2011 New Yorker profile, “a word that manages to convey both a capacity for mercurial insight and a lack of practical job skills.” |
Tax evasion: Why did Sibal extend undue favours to Voda, asks AAP -
Danish Raza, FirstPost
Aam Aadmi Party (AAP) has alleged conflict of interest in newly appointed Law Minister Kapil Sibal’s decision to allow an out-of-court settlement of Vodafone tax evasion issue. Kabil Sibal extended undue favours to the telecom company because the Law Minister’s son Amit Sibal represented it in court alleged Arvind Kejriwal.
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No buyers for FDI in multi-brand retail -
Arvind Singhal, Business Standard
After years of heated discussions on opening multi-brand retail to foreign investors and the eventual endorsement of the policy after a cliff-hanger vote in Parliament in December 2012, it would be a matter of great chagrin to the government and the mandarins who drafted the policy that no proposal has been submitted for approval. |
Inflation back in RBI's comfort zone -
Business Standard
The headline inflation fell to 4.89 per cent in April, within the Reserve Bank of India (RBI)’s comfort zone for the first time in almost three-and-a-half years, fuelling market hopes for more interest rate cuts to revive economic growth. RBI’s comfort level for inflation is between four and five per cent. |
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