Let zombie firms linger on & banks stay crippled a little longer if it leads to deeper reform, so India can get away from broken financial system of the 1980s.
Arvind Panagariya backs Modi govt’s decision to not go in for fiscal expansionary policy, says funds will be needed for demand stimulus and bank recapitalisation.
The recapitalisation of banks fits into the pattern set by other developments that indicate we are moving away from the Modi promise of less government.
The US and Israel’s assassinations of Iranian leadership ended up bestowing martyrdom on those killed. Shias saw the deaths as a continuity of martyrdom from the Battle of Karbala.
India’s fast-growing data centre sector may strain state electricity networks; Central Electricity Authority has urged Maharashtra, Andhra Pradesh, Telangana and Tamil Nadu to boost capacity.
Theaterisation, which aims to divide the forces into three theatres with specific areas of responsibility, will become the single most far-reaching reform that the Indian military has witnessed since independence.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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