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Business Standard
2 days ago
- Business
- Business Standard
Best of BS Opinion: Crossing the river with memory, not just momentum
Progress rarely comes with a paved path. More often, it's like crossing a river barefoot, feet probing for stones beneath cold currents, steadying after each slip. The smarter ones don't just step; they remember where they slipped last time. Today, India also stands midstream, doing just that, feeling its way forward with care, learning from the stumbles of its past. Let's dive in. Start with the country's economic statistics. The overhaul of the GDP, CPI, and IIP, long overdue, could finally give policymakers a clearer view of the real economy. With e-commerce data, digital payments, and wider price tracking entering the frame, the next set of figures will be sharper. Yet, as our first editorial notes, we risk stepping on old stones: relying on outdated 2011 Census baselines and omitting a Producer Price Index. We've wobbled here before. This time, better grip is non-negotiable. That same caution guides India's approach to the gig economy. A projected 61 million strong by 2047, this workforce could transform livelihoods or fracture under neglect. Gig jobs have grown fast, but their foundations are shaky—lacking basic protections or benefits. A regulatory slip like that of the textile mills could be disastrous, highlights our second editorial. This time, the challenge is to step smart, offering security without crushing the spirit of innovation. But even smart feet need firm ground. As M Govinda Rao argues, India's economic leap, from overtaking Japan to chasing developed-nation status, needs more than momentum. Without reforms in judiciary, contract enforcement, and governance, we'll keep slipping on the same institutional stones. Foreign capital won't wade into murky waters, no matter how tempting the destination. Kanika Datta adds another layer, that real reform, especially on land and labour, demands political consensus. The ghosts of Singur and stalled SEZs show what happens when politics turns rocky. India needs not bravado abroad, but bipartisan clarity at home, consensus-crafted policies that prevent tripping over turf wars. And Aditi Phadnis offers a quieter, emotional reminder in her review of An Unlikely Friendship: The Chief Minister and the Spy by A S Dulat. In Kashmir, where Delhi's distrust repeatedly unseated Farooq Abdullah, a more sensitive step could have built lasting bridges. That too was a stone misjudged, and remembered. Stay tuned, and remember, if we move with memory, not just momentum, we may just reach the other bank steadier!
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Business Standard
2 days ago
- Business
- Business Standard
Avoiding the growth mirage: Reforms must go beyond capital infusion
Despite some setbacks and global uncertainty, the economy has shown remarkable resilience and is poised to surpass Germany before the end of the decade to become the third-largest M Govinda Rao Listen to This Article The release of the World Economic Outlook in April by the International Monetary Fund (IMF) has brought in much rejoicing and enthusiasm among those concerned with India's development. The chief executive officer of NITI Aayog might have jumped the gun when he declared that India has become the fourth-largest economy surpassing Japan, which has also been echoed by the Prime Minister. The IMF report shows India's gross domestic product (GDP) in 2024 at $3.91 trillion, against Japan's $4.03 trillion, but it is projected to surpass the Japanese GDP by a slender margin in 2025 ($4.197 trillion vs 4.196 trillion). Of
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Business Standard
08-05-2025
- Business
- Business Standard
Best of BS Opinion: Striking terror, sealing deals, and shaping debate
Have you seen a bear rub its back on a tree? Like the ones shown on Discovery Channel or BBC's famous documentary Planet Earth? The bear leans into the bark, groaning in pleasure, swaying with abandon. It's a slow, deliberate motion, an ancient ritual. But the tree, scarred and ageing, sways under the weight. The bear doesn't notice. To it, this is just relief. One push too hard, and it'll fall. Not just fall, but tip a delicate balance of things around it — disturb nesting birds, crush saplings, maybe even trigger a landslide. The bear doesn't mean harm. But force, even when casual, can be consequential. Let's dive in. India's Operation Sindoor marks a sharp, strategic response to the April 22 Pahalgam terror attack. Nine terror camps across the LoC and in Pakistan were hit with precision. No civilian or military targets. No escalation. Just a clear message. But like that bear's backrub, it leaves the tree of regional peace trembling. As our first editorial notes, the challenge now lies not in firepower but in poise, in preventing border flare-ups, holding diplomatic ground, and raising the international cost of Pakistan's terror policy. One wrong move though, and that fragile tree of regional stability could give way. Then comes the UK-India Free Trade Agreement, a historic handshake, according to both governments. Tariffs down, opportunities up. Indian goods get smoother access to UK markets, and British whisky and lamb will find new fans here. Yet, visa issues remain thorny and major chapters are still pending, highlights our second editorial. It's a promising start, but the bear must now navigate a forest of unsteady trees. M Govinda Rao brings clarity to the just-released 2025 State Performance Rankings. On paper, Maharashtra, Gujarat, and Karnataka lead. But the bark peels when you look closer. Human development is underplayed, fiscal optics are misleading, and poorer states often look better than they are. It's a beauty contest judged by blurry rules and the outcomes, while decorative, may change little on the ground. The tree might look upright on paper, but its roots tell a different story. Meanwhile, Kanika Datta returns to 'Operation Sindoor' from an economic lens. While the strikes might soothe public anger, the bigger picture is less rosy, she writes. Investment jitters, fragile tourism in Kashmir, and weak FDI inflows all ask whether retribution, however surgical, can ever be growth-friendly. Finally, Aditi Phadnis reviews The Fight for the Republic, a posthumous collection of Sitaram Yechury's essays. Edited by Prabhat Patnaik, it reads like a warning: if inequality and majoritarianism keep rubbing against the soul of India, the cracks may grow too deep to ignore. Welfare without redistribution, nationalism without justice is a forest where the oldest, tallest trees are falling silently. Stay tuned!
Time of India
29-04-2025
- Politics
- Time of India
Channagari lagging in devpt: Panel chief
Davanagere: The district's development contrasts with Channagiri's backwardness, while Jagalur and Honnali taluks also lag with indices of 0.8 and 0.9, respectively, shared Prof M Govinda Rao, chairman of the Karnataka Regional Imbalance Redressal Commission (KRIRC). Addressing the meeting of the Karnataka Regional Imbalance Redressal Commission of Davanagere on Tuesday at the District Panchayat SS Mallikarjuna Hall, he asserted that DM Nanjundappa's study of 175 state taluks identified 39 as most backward, 40 as very backward, and 35 as backward regions. North Karnataka contained 26 of the most backward taluks, while south Karnataka had 13. The govt allocated Rs 821 crores to Davanagere district (2007-08 to 2023-24), releasing Rs 698 crores for development, with Rs 640 crores utilised. "The state now comprises 240 taluks, and the Karnataka Regional Imbalance Redressal Commission was established to assess development progress, investigate reasons for continued backwardness despite funding, and ensure balanced regional growth," Rao informed. He further said that, established in March 2024, the commission became fully operational in September 2024. Only Dakshina Kannada, Udupi, and Bangalore Urban districts achieved expected development levels. "The commission will evaluate 32 indicators, including infrastructure, education, healthcare, and agriculture, visiting districts to gather public input before making recommendations," Prof Govinda Rao added. MLA Basavantappa stressed agricultural and industrial development, noting recent industry closures and declining agricultural output. He advocated for adequate electricity, water supply, lake restoration, and crop support prices. Channagiri MLA Basavaraj Shivaganga identified education as a primary concern, citing teacher shortages. He suggested tourism development in Channagiri and Jagalur taluks, alongside research centres and airport establishment to boost employment. DC in-charge, Suresh Itnal, emphasised anganwadi worker training needs, and highlighted requirements for lab materials and teachers in govt schools. He noted the necessity for 24/7 hospital services and additional ASHA workers in Jagalur.
Time of India
22-04-2025
- Health
- Time of India
114 taluks in K'taka classified as backward: Panel
Mangaluru: The district-level meeting of the Karnataka Regional Imbalance Redressal Committee was held at the Nethravati auditorium of the zilla panchayat on Monday, under the chairmanship of economist Prof M Govinda Rao. In his address, Prof Rao said that 59 taluks in north Karnataka and 55 in south Karnataka were classified as backward. While funds were allocated and utilised for development, several taluks still lagged behind, particularly in education and healthcare. He said the committee is actively drafting key recommendations to the govt to bridge these regional disparities. Moodbidri MLA Umanath Kotian raised concerns about the lack of govt educational institutions in his taluk, which he said adversely affects students from poor backgrounds. He recommended setting up such institutions at the zonal level, and proposed the establishment of education department zonal offices in Mulki, Kadaba, and Ullal taluks. Deputy commissioner Mullai Muhilan MP pointed out that although Dakshina Kannada has immense potential for tourism development, delays in approvals due to Coastal Regulation Zone norms pose a challenge. Nevertheless, he assured that focus is being placed on enhancing tourism infrastructure. He also said that upgrading Wenlock Hospital to a regional facility would significantly improve public healthcare services. Zilla panchayat CEO Anandh noted that Kadaba, Sullia, and Belthangady taluks, located along the Western Ghats, continue to lag behind in development compared to other regions. He said that these areas deserve priority in the committee's development strategy. Vishal R, secretary of the committee and the department of finance reforms and planning, said there is increasing demand for hostels catering to students from Scheduled Castes, Scheduled Tribes, backward classes, and minority communities in Dakshina Kannada and Udupi districts, where educational institutions are densely concentrated. DHO Dr Thimmaiah proposed that upgrading hospitals at the taluk level would enhance healthcare access and reduce costs for residents. Representatives from industrial bodies stressed the importance of small-scale industries in the region's economic development. They recommended that land be allotted to promote their growth, which would also enhance the district's overall economy.
