Fifty years ago, on 19 July 1969, the Indira Gandhi government had nationalised 14 banks. Even today, PSUs control a substantial percentage of the deposits.
The economy is showing steady expansion, with the IMF forecasting growth of 7.3 per cent in the fiscal year through March 2019 and 7.5 per cent in the next.
With two hostile neighbours in the immediate vicinity and one in the greater region, it is imperative that New Delhi forge alliances that can offer some stability.
Recommendations appear in Niti Aayog’s Tax Policy Working Paper Series–II. It says there is a need to shift away from fear-based enforcement to trust-based governance.
In service with the British military since 2019, it is also known as the Martlet missile. Ukrainians have also deployed these missiles against Russian troops.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
The youngsters are sure borrowing and spending as you say, Ramya ji, but not much on durables but on consumables like Alcohol. Affluent Kerala is an ideal example. 400-plus crores spent on liquor a single day, to celebrate Onam festival !
Personally I am not comfortable with this borrow to spend culture. Several countries have racked up huge household debt. In the US, student loans are about $ 1.5 trillion and a lot will turn bad. Even in today’s changed culture, what would get my vote is a young couple taking a loan to buy an apartment – ready possession, no longer under construction or planning – and perhaps a car. Cutting rates to induce people to borrow more has never restored any economy to health. For ten years, Count Draghi has kep rates ultra low and Europe is still growing at an anaemic one per cent.
Alcoholic and pot headed millennials prefer cabs and not personal cars.
The youngsters are sure borrowing and spending as you say, Ramya ji, but not much on durables but on consumables like Alcohol. Affluent Kerala is an ideal example. 400-plus crores spent on liquor a single day, to celebrate Onam festival !
Personally I am not comfortable with this borrow to spend culture. Several countries have racked up huge household debt. In the US, student loans are about $ 1.5 trillion and a lot will turn bad. Even in today’s changed culture, what would get my vote is a young couple taking a loan to buy an apartment – ready possession, no longer under construction or planning – and perhaps a car. Cutting rates to induce people to borrow more has never restored any economy to health. For ten years, Count Draghi has kep rates ultra low and Europe is still growing at an anaemic one per cent.