Business/Economy
Sethusamudram project is not worth pursuing - RK Pachauri, Pioneer
Technically, economically and ecologically, the bridge revival is a bad investment that will not serve the country's interest. It has been reported that earlier this week, the Supreme Court asked the Government of India to spell out within six weeks its stand on the Sethusamudram project.
The World Bank has its own way of ranking India poorly - Bibek Debroy, Economic Times
There has been a lot of interest in the World Bank’s ‘Doing Business’ set of indicators. We know that there is a rank and a score (distance to frontier); 10 heads of indicators used to rank countries; and that the respondents in India are based in Delhi and Mumbai.
Recalling socrates in these modern times - Tejinder Narang, Financial Express
The period before Socrates’s in Greece—of the Sophists—that dates back about 2,600 years, believed that right and wrong were relative as were good and evil. Sophists were adept in proving right as wrong and vice versa, by clever play of logic and rhetoric. But Socrates argued that people are largely ignorant of what they want.
Why compliance is low in GST - Lokeshwarri SK, Business Line
It’s more than four months since the Goods and Services Tax was introduced, and while consumers have learned to live with this, businesses are still struggling to adapt. The Government has been on its feet, tweaking rules periodically in an attempt to assuage sentiments.
Night lights and train trips help India study impact of cash ban - Jeanette Rodrigues, Economic Times
With India still struggling to measure the impact of last year’s unprecedented clampdown on cash -- especially on the vast informal sector -- some analysts are using innovative indicators to assess the health of the $2 trillion economy.
Answer to security issues in e-money - Ajeya Singh, Business Line
In pursuit of a digital India, everyday transactions are gradually moving away from physical and migrating to digital. Existing e-money and mobile wallets provide improved security, efficiency, privacy, affordability and transparency in financial transactions.
Financial inclusion is good for banks too - M Mostak Ahamed & Sushanta K Mallick, Business Line
Despite financial inclusion being an important public policy priority, we know very little of how it impacts the soundness of the providers of financial services. Using a large international sample of banks, we find that a higher level of financial inclusion contributes to greater bank stability.
Where credit is due - Bibek Debroy, Indian Express
There can be an entire book of apocrypha based on what John Maynard Keynes is supposed to have written or said. On one occasion, Lord Keynes was reportedly asked, "How is your wife?" He replied, "Compared to whose wife?" Despite his marriage to Lydia Lopokova, given his proclivities, both the question and answer are unlikely.
How to get India’s macroeconomic, microeconomic policies right - Nirvikar Singh, Financial Express
In India, as elsewhere, crafting good macroeconomic policy is difficult. Measurement of aggregates such as output and inflation is fraught with challenges, and it is hard to build reliable models of the entire economy. A few years ago, there was a somewhat heated debate among prominent economists about the merits of GDP growth as a prime objective of economic policy in India, with claims made for promoting “inclusive” growth and even non-GDP measures of well-being such as health and education outcomes.
How about a gold small savings scheme? - Aarati Krishnan, Business Line
Has demonetisation prompted the Indian saver to abandon traditional options such as gold and make a beeline for financial assets? Financial firms and stock market investors certainly seem to think so. But the wave of panic that swept Chennai this week after a reputed jewellery chain defaulted on its gold savings scheme, reminds us that a large cross-section of Bharat remains immune to the charms of mutual funds.
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