Nimhans' polytrauma unit near airport gets central nod
The crucial nod came from the Department of Expenditure in the Ministry of Finance on Friday, coinciding with the Kempegowda Jayanti celebrations in Bengaluru.
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Indian Express
8 hours ago
- Indian Express
MoF: Accept or reject, don't ignore
On June 19, 2025, the Ministry of Finance (MoF) convened a rare meeting of the Consultative Committee for the Ministry of Finance. I think it was the first meeting since the constitution of the 18th Lok Sabha in June 2024. The members are MPs of both Houses representing all parties nominated to the Committee. It is a useful mechanism if the government intends to use it. The finance minister (FM) presides over the meeting. The meeting on June 19 was formal — in fact, too formal and stiff. The chief economic adviser (CEA) made a 19-slide power point presentation (PPT), members were invited to make their comments and observations, the finance secretary summarized — literally encapsulated — the comments but offered no answers or clarifications, and the FM made her closing remarks. On no issue was there a consultation. Fortunately, in the 19th slide of his PPT, the CEA requested suggestions from members on four issues: For further improving farm productivity; Agenda for deregulation to reduce compliance burdens esp. for industry; Adapting our skilling programmes to AI and tech-driven disruptions; and How to accelerate formalization of the economy. I did not wish to make off-the-cuff suggestions at the meeting. I have since thought about the four issues and here are my suggestions: One of the slides mentioned MSP, PM-Kisan, PM-Fasal Bima, KCC, e-NAM and Food Parks: these are intended to increase efficiency and consequently boost productivity. In another slide on 'empowering farmers', the data on increase in yield per acre for major crops has been given. In each major crop, the increase in yield per hectare between 2013-14 and 2023-24 has been in double-digits. In fact, we have been on the right path since the days of the green revolution beginning 1965 and not only since 2013-14. However, productivity must be measured against world standards: Crop India Global Avg Best in average (Kg per the World /best hectare) Wheat 3,559 3,548 EU/Egypt /5,045 6,500-7,700 Rice 2,882 4,700 China 6,500 /4,516 Maize 3,351 5,824 USA 10,532 /6,239 Sugarcane 84,906 75,000 Brazil 75,000 /105,000 Cotton 443/602 1,040 China 2,252 There is another metric of productivity: productivity per farmer/farm worker. 58 per cent of the Indian population (as against 22 per cent in China) depends on agriculture and agriculture-related activities. Hence, the productivity per farmer is very low in India, and the average farmer is not only poor but is also burdened by debt. The way to accelerate productivity per farmer is to create non-farm jobs and to wean millions away from agriculture into non-farm jobs. However, because of high urban unemployment and the lamentable state of the manufacturing sector, that process has been in a start-stop mode; actually, there is data that in recent years labour has moved back to the agriculture sector. Suggestion: Accelerate the growth rate and expansion of the manufacturing sector. After 2014-15, the Modi government has re-established more control. RBI, SEBI, Ministry of Company Affairs, Ministry of Commerce, the Income-tax department, UGC and every other Ministry or arm of government have made hundreds of pages of rules and regulations. The old control regime has come back as 'regulations'. Government authorities exert power and control through disputation and litigation. Doing business in India means challenging regulations and orders, and seeking redress in courts and tribunals. The GST laws have added to the burdens of business. The high and multiple rates of GST are per se bad. The rules, regulations, notifications, forms and compliances under the GST laws are worse. Together with the manner in which the laws are interpreted and applied by the Income-tax, Customs, DGFT and GST departments, it is a nightmare for any business. The CBI, ED, DRI, GST enforcement and SFIO seem to regard every businessperson as a suspect and every chartered accountant and lawyer as an accomplice. If trade and industry have to be the prime drivers of the economy, the suffocating environment in which they find themselves must be removed. Suggestion: Light a bonfire every quarter, there is enough rubbish to burn. Read the Annual Status of Education Reports (ASER). The appalling levels of reading, writing and arithmetic skills of school children virtually rule out a technologically- empowered society. The triumvirate of UGC, NTA and NAAC have robbed the Universities of the essential character of a University — autonomy, inquiry and strive for excellence. They have driven serious teachers, scholars and researchers to foreign lands. The central and state governments have tied Universities hand and foot by starving them of funds. Thousands of teaching posts in Universities are vacant. According to a reply in Parliament, as on October 31, 2024, there were 5,182 teaching posts in central universities that were unfilled. I am afraid the way forward on this vexed issue lies far outside the ambit of MoF. Suggestion: CEA may delete this issue from his to-do list. What does the CEA mean by 'formalization of the economy'? Does he want more economic activities that are carried on in the 'informal' economy (e.g. part-time maid services in middle class homes) formalized? Suggestion: Absent clarity, I have none. Please accept the suggestions; or reject them; do not ignore them.
Deccan Herald
11 hours ago
- Deccan Herald
Nimhans' polytrauma unit near airport gets central nod
The crucial nod came from the Department of Expenditure in the Ministry of Finance on Friday, coinciding with the Kempegowda Jayanti celebrations in Bengaluru.
Economic Times
14 hours ago
- Economic Times
Taiwan slaps anti-dumping duties on Chinese beer and steel to shield local industry
Taiwan's Ministry of Finance will impose anti-dumping duties on beer and hot-rolled steel from China for four months, starting next Thursday. This decision follows investigations that found these products were being dumped, causing substantial damage to Taiwan's domestic industry. Tariffs on Chinese beer will range from 13.13% to 64.14%, while steel tariffs will be either 16.9% or 20.15%. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Ministry of Finance announced that it will impose anti-dumping duties on beer and hot-rolled steel produced in China for four months starting next Thursday, citing "substantial damage" to Taiwan's industry, as reported by the Taipei to a statement from the finance ministry, both it and the Ministry of Economic Affairs "have tentatively concluded that these products are being dumped and that it has inflicted significant harm on the domestic industry." The finance ministry mentioned that the duties would be applied for four months to "protect our industry from ongoing damage during the investigation," as noted by the Taipei tariffs on Chinese beer will vary from 13.13 per cent to 64.14 per cent, while those for steel will be either 16.9 per cent or 20.15 per cent, the report indicated. In March, the finance ministry initiated anti-dumping investigations into Chinese beer and selected steel products following allegations of unfair currently has anti-dumping duties on ten products, with eight coming from China, its largest trading partner, according to official statistics. The ministry is also assessing whether the low prices of certain Chinese hot-rolled steel products, attributed to "long-standing overcapacity" in production, are negatively impacting domestic businesses, the finance ministry has emerged as the largest export market for Chinese beer brewers, who captured over 70 per cent of the local beer market in the first quarter of this year, according to DPP Legislator Hsu Fu-kuei. In the last five years, Chinese beer exporters have shipped over NT$16 billion (US$548.32 million) worth of products to Taiwan, according to suppliers have harmed local beer producers, and the outcome could be severe if the government fails to implement anti-dumping measures, he cautioned. DPP Legislator Chung Chia-pin reported that local beer firms have experienced a 20 per cent drop in market share, with a 15 per cent decrease in production, leading to a utilisation decline of about 30 per cent. He suggested that this indicates significantly adverse effects on the local beer companies' operations due to Chinese beer 70 per cent of the Taiwanese population reportedly backs the government's decision to impose anti-dumping taxes on Chinese beer manufacturers to maintain market order, as stated by DPP Legislator Kuo Kuo-wen, referencing an unnamed public opinion poll, as cited by the Taipei Times report.
