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Home50-Word EditGDP numbers show Modi govt needs to work on stimulating demand

GDP numbers show Modi govt needs to work on stimulating demand

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The sharp decline in private consumption and fixed capital formation in the April-June quarter GDP numbers shows the challenge the Modi government faces in boosting demand and investment. With consumer confidence at record lows, the government will have to provide a substantive demand stimulus to push strong consumption and investment.

Pranab Mukherjee was a statesman who transcended all ‘isms’ for larger national interests

Former President Pranab Mukherjee’s death is a loss to the nation. He played a stellar role in India’s developmental journey and was a wise political voice. Mukherjee will be remembered as a statesman who transcended all ‘isms’ for larger national interests. His demise leaves a void in India’s public life.

The ‘draw’ in SC vs Prashant Bhushan case should be used to re-examine concept of contempt

The Supreme Court vs Prashant Bhushan contempt case saga has ended in a draw, with both sides managing to save face. This sobering experience should be used to re-examine the entire concept of contempt. India’s highest judiciary shouldn’t have to spend so much time and energy on this another time.

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  1. The man who never got to be king. The whole larger than the sum of the parts. The second term in Finance was lacklustre. It should have built upon the many beneficial changes that had been made since 1991. At some stage during UPA’s second term, when what had looked like a routine civilian flight became a dogfight in hostile skies, he should have replaced Dr Singh. That may not have ensured UPA III. However, what would have followed would have been a normal change of government, not the rout it became. So stunning that, five years later, the Congress could not attain LoP status. Pranabda ki hasrat poori honi chahiye thi.

  2. The government’s difficulty is that there is no money. Else it would not have refused to stand by constitutional commitments to the states on GST, knowing that they need support to fight the pandemic and all the havoc it is causing. Each rupee that is taxed / borrowed by Centre and states is reducing the money households have for consumption and businesses for operations; at such a time fresh investments are a forlorn hope. We are not the US, which can plan a $ 3 trillion stimulus package. 2. The government has to get a firm grip over managing the economy. Something which has not happened for six years. More reforms. A completely different approach to governance, since none of the domains, including national security, is sparkling. Listening to people, including criticism. Quite a few folk who seem to neither tire nor retire should be requested to spend more time with their grandchildren.

  3. As a lay observer, one is intrigued by the two options, one a pebble, the other Everest, given to Shri Prashant Bhushan. The only plausible explanation is that the harsh punishment of three months’ imprisonment and being debarred from professional practice for three years is an expression of what the honourable apex court felt was condign punishment for such a transgression. The token fine is an acknowledgement of the public perceptions that have built up around this case. Not just the mood on the street but retired jurists, practising lawyers, other distinguished members of civil society expressing solidarity with Mr Bhushan. The unambiguous caution to others less well placed – a briefless barrister from Burdwan – is chilling : We take these things very seriously, almost personally. Don’t test our patience or magnanimity.

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