News: Union Finance Minister recently announced that the National Asset Reconstruction Company (NARCL) along with the India Debt Resolution Company (IDRCL) will take over the first set of bad loans from banks and try to resolve them. The decision to set up a bad bank was taken by the Union government during the Budget presented… Continue reading Of what good is a bad bank?
Category: 9 PM Daily Articles
The shadows over global growth recovery are long
News: There has not been a full recovery from the aftershocks of the COVID-19 pandemic. Economic prospects have worsened. There is divergence between the economic recoveries of advanced economies and those of the developing ones. Contents1 What are the macroeconomic forces behind inadequate recovery?2 Inflation concerns3 Capital outflows4 What are the impacts? What are the… Continue reading The shadows over global growth recovery are long
Dhiraj Nayyar writes: The problem with putting the civil services on a pedestal
Context: Most countries in the world have a cadre of professional civil servants, but nowhere are new entrants to the system of government celebrated like in India. It’s like the public itself hasn’t overcome the colonial legacy of the civil service being the grandest of professions. This has consequences, and must change. Why society has… Continue reading Dhiraj Nayyar writes: The problem with putting the civil services on a pedestal
Bengal decision to make CM as Chancellor
Context: The time may have come to reconsider having Governors as university Chancellors. Contents1 What is the recent issue?2 Other instances of friction b/w Governor and state govt3 Why Governors hold the office of Chancellor?4 Way forward What is the recent issue? The West Bengal government recently decided to make the Chief Minister the Chancellor… Continue reading Bengal decision to make CM as Chancellor
Let’s redesign the process of pre-legislative consultation
Context: In 2014, India’s ministry of law and justice issued a policy on pre-legislative consultation. Contents1 Background2 Importance of Pre-Legislative Consultation3 Features of Indian policy4 What are the issues?5 Way Forward Background In 2012, the Organization for Economic Cooperation and Development (OECD) issued a set of 12 recommendations on policymaking practices for member and non-member… Continue reading Let’s redesign the process of pre-legislative consultation
The weight of the GST Council ruling
News: Recently, the SC in Union of India Anr. vs Mohit Minerals Pvt. Ltd., ruled that the recommendations of the GST Council are not binding on either the Union or the States. Some States have rejoiced over the ruling. They believe that this has restored the autonomy of States to legislate on GST. Contents1 The SC’s… Continue reading The weight of the GST Council ruling
The path towards greater religious tolerance and social harmony
Context: In the words of K M Munshi: “Indian culture is a living force. It absorbs alien elements when necessary but transmutes them into a new pattern of homogeneous richness. It has made us what we are in the world today; and will make us what we want to be in the world tomorrow.” Nature… Continue reading The path towards greater religious tolerance and social harmony
Urban mining
News: In late April, the Municipal Corporation of Gurugram angrily ordered its officials to find out who dumped “malba” — the Hindi word for Construction and Demolition Waste (C&DW) on either side of the Gurugram-Faridabad road. Frameworks to tackle C&DW already exist. Implementation needs to be improved. Contents1 What are the causes behind C&DW?2 What… Continue reading Urban mining
Indigenise smart: Heavy investment in R&D is needed to take Indian defence production to next level
News: To promote indigenisation, defence ministry has given the initial approval to projects worth Rs 76,390 crore. All the proposed capital acquisition will be under the ‘Buy and Make Indian’ mechanism. What are the projects approved? Construction of eight next-generation corvettes for the navy, Procurement of wheeled armoured fighting vehicles, and The manufacture of Dornier… Continue reading Indigenise smart: Heavy investment in R&D is needed to take Indian defence production to next level
The inflation spectrometer
News: Inflation is a macroeconomic phenomenon which is under pressure at global and local level. Contents1 Major driving factors behind inflation2 Globally3 Local drivers of inflation:4 What are the issues in fiscal and monetary policy measures? Major driving factors behind inflation Inflation is caused by a number of factors which may includ supply, demand, local… Continue reading The inflation spectrometer
