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Business Standard
5 days ago
- Business
- Business Standard
Best of BS Opinion: Trump, CSR, and the machinery of Indian democracy
There's a quiet joy in tearing into a fresh croissant. The flaky shell gives way to soft, buttery folds within. Each layer is distinct, yet part of one creation. Life's big stories often feel the same. It has separate textures and flavours, each revealing something new as you peel further in. Today's writeups are a croissant of their own, with layers of law, geopolitics, economics, corporate conscience, and the mechanics of democracy, all shaped by heat and pressure. Let's dive in. The first crisp fold is legislative reform. The government's Insolvency and Bankruptcy Code (Amendment) Bill, 2025, its seventh such tweak, has been laid before the Lok Sabha and sent to a select committee. On paper, it promises faster resolutions (150 days instead of 602), group insolvency for tangled corporate webs, and a framework for cross-border cases. Yet, without more judges and resources at the National Company Law Tribunal, cautions our first editorial, these timelines may remain as aspirational as the perfect pastry rise. Peeling deeper, we find the darker layer of South Asian geopolitics. Pakistan's Field Marshal Asim Munir has made his second US visit in as many months, raising eyebrows with feckless threats about his nuclear policy. His confidence, boosted by military operations and warm words from Washington, could lead to risky missteps with India. Our second editorial highlights that India's restraint, vigilance, and fixing our own security lapses are the butter that will help South Asia rise, instead of collapsing into a charred blob. Then comes the chewy centre of trade policy. M Govinda Rao writes that Donald Trump's 50 per cent tariff blitz on key Indian export items exposes the weakness of India's protectionist turn since 2017. Shielding uncompetitive sectors won't do. Rao calls instead for liberalised trade, more FDI, and an agricultural leap akin to a second Green Revolution. Productivity, he argues, is the yeast for lasting prosperity. Meanwhile, Kanika Datta slices into corporate social responsibility (CSR), a decade after India made it mandatory. The FY24 spend of roughly Rs 17,967 crore is impressive but unevenly spread, favouring richer states and PR-friendly causes.. Without course correction, CSR risks becoming a glossy outer layer with little depth beneath. And finally, Aditi Phadnis reviews SY Quraishi's An Undocumented Wonder: The Making of the Great Indian Election, an unflinching look at the Indian election machine. From trekking to a single remote voter to battling AI-fuelled propaganda, it's a reminder that democracy, like a croissant, demands constant, careful watching. Stay tuned!
Time of India
08-08-2025
- Business
- Time of India
Panel to submit report on addressing regional inequality in Oct
Kalaburagi: Prof M Govinda Rao, president of the Karnataka Regional Imbalance Remedial Committee, announced that a comprehensive report aimed at reducing regional inequality in the state will be submitted to the state govt in Oct. Tired of too many ads? go ad free now He stated that the report will cover the outcomes of initiatives in 41 key areas, including health, education, agriculture, industry, and infrastructure. Rao emphasised the need for Kalyana Karnataka Region Development Board (KKRDB) to develop five-to ten-year vision plans for the all-round development of the region, with the goal to boost the per capita income and human development index of the marginalised populations. During a meeting held at the KKRDB Hall in Kalaburagi, which was attended by board members and officials from various departments, Rao said the priority sectors should be improved over the next five or ten years. Referring to Dr DM Nanjundappa's report, Rao noted that "In all sectors where this region is lagging behind, the board should take action to overcome the deficitS." He suggested that the govt be presented with an action plan. "Instead of granting funds indiscriminately, attention should be focused on the priority sectors," he said. To address the region's backwardness, Rao suggested amending the Constitution and implementing Article 371(J) more effectively. He stated that the regular supervision of infrastructure works funded by the board on a daily basis, is essential to ensure accountability. "Spending money is not enough, people should see change. Tired of too many ads? go ad free now Development works should be visible," he said. Rao pointed out that compared to other regions, the KKRDB is receiving substantial funding through special reservation provisions. "Funds are being released and these should be utilised efficiently," he added. KKRDB president Ajay Singh said in the past two years, the board has implemented effective programmes in health, education, employment, and forest innovation. He noted that in a cabinet meeting held in Kalaburagi last Sept, Rs 857 crore was approved for the health department, with Rs 300 crore already sanctioned. "The board is making all efforts to improve the region's health infrastructure by allocating more funds," Singh stated. He added that an industrial hub is being established to foster industrial growth and create employment opportunities.
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Business Standard
09-07-2025
- Business
- Business Standard
Best of BS Opinion: India's growth story needs harmony, not exits
There are some mornings when you catch a group of teens with mismatched instruments rehearsing in the park. An off-key trumpet, a scratched-up guitar, and sometimes one hesitant drummer. It sounds like noise at first. But wait a few minutes and suddenly, the pieces fall in place. The rhythm kicks in, the melody gels, and something real begins. Not perfect, but promising. That's when the choice appears: sharpen the sound, perfect the sync, or walk away. Let's dive in. India faces that very choice across vastly different stages. The ASEAN Free Trade Agreement which came into force in 2010 and is currently under review, might seem like a discordant alliance to some. Domestic lobbies want out, citing dumped Chinese goods and lagging farm exports. But as our first editorial argues, that's like quitting the band when your mic isn't loud enough. Instead, India should fine-tune the rules, harmonise better with the region, and use the pact as a strategic amplifier in the Indo-Pacific. Then there's the Gini index, a stat that suggests India is one of the world's most equal countries. Cue the applause? Not quite. As our second editorial explains, consumption-based metrics mask deep distortions. Behind the curtain, rural-urban divides blare on like untuned basslines, and state-by-state income variations clash like overlapping tempos. To fix the score, India must orchestrate policies that bridge regions and generate inclusive growth before the dissonance drowns the melody. M Govinda Rao shows Karnataka as a cautionary concert. Bengaluru leads with unicorns and tech gigs, while North Karnataka stays muted, underfed and overlooked. Historical baggage, lopsided investment, and uneven governance have turned one state into two different playlists. It's time policymakers re-tune subsidies and capital flows, and let every region play its own solo. Meanwhile, Ajay Kumar's column on undersea cables reminds us that even backstage tech can make or break a performance. These digital lifelines, vital for India's data-heavy future, are exposed to sabotage and surveillance. Without tighter laws, more repair ships, and Quad-aligned strategy, India's internet symphony risks being cut mid-note. And Devangshu Datta's review of Commanded by Destiny: A General's Rise from Soldier to Statesman by General S M Shrinagesh brings us back to the roots: a soldier-statesman's memoir that echoes with history's crescendos and silent interludes. It's a reminder that enduring legacy, like good music, requires discipline, foresight and knowing when to let each instrument lead. Stay tuned, and remember, because the band's off-sync, don't quit on the song. Just rehearse harder!
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Business Standard
12-06-2025
- 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
11-06-2025
- 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
