'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
Glimpses of the change Narendra Modi promised million of voters were visible at Rashtrapati Bhavan. Modi has now no excuse, but to perform and change India for the better. Sheela Bhatt/Rediff.com reports from the presidential palace. A feature on the swearing-in ceremony like none other.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
Coal industry expert Sunjoy Joshi tells Sheela Bhatt/Rediff.com that the NDA's e-auction of coal blocks will not solve the fundamental problems that dog the industry.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
"A Meryl Streep or Jimmy Kimmel can speak their mind, and stay assured that they won't be harmed. That does not happen in India," say Manavi Kapur & Ranjita Ganesan.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
'Without destroying idol worship, you cannot destroy caste because idol worship keeps religious communities in its religious ideology. The RSS is a big promoter of idol worship.' 'They may have an OBC PM, but neither the RSS or the VHP talk about an OBC becoming a priest. The equation is: Business in Baniya hands. Religion in Brahmin hands. OBC votes for the BJP.'
'Today, environment has become an issue of political debate. It has become a media issue. I think that is a good development.'
'Modi is a master of convergence. By his ability to converge and add new features to a non-star idea, he is able to sell it. Like how he has turned Kutch into a tourist destination by selling the salt desert of the Rann as a flat snow desert of the night and roping in Amitabh Bachchan to sell it. In one stroke this has ensured economic returns to the people and on the other hand it has taken care of the national security angle in the sense that the border population in the Rann, which is almost entirely Muslim, is feeling better as now they are much more connected with the mainstream.' Ahead of the launch of his book on the much-debated Modi model of governance, journalist Uday Mahurkar speaks to Rediff.com's Sheela Bhatt.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
Experts prefer domestic consumption-driven plays and defensives such as information technology and pharmaceuticals
'Those who have seen the functioning of the Modi government in Gujarat know that the issues related to Hindutva and issues of economy and growth function simultaneously.' 'Modi's politics are based on the understanding of the middle-class consumer society which is in pursuit of material aspirations.' Sheela Bhatt/Rediff.com reveals the Modi government's economic and political plans for the year ahead.
'This is not a Sanjay Baru or Natwar Singh type of book. It's not a memoir. It's not a book to reveal conversations, real or imaginary. This is not a book to position myself at the centre of the world.' Jairam Ramesh on his stint as environment minister.
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