The Narendra Modi government appears to have an aversion to the advice of specialists but two former players in the regulatory system have offered useful prescriptions on reforming public sector banks, without which it is widely recognised a sustainable recovery from the pandemic-induced slowdown is impossible.
A paper co-authored by former Reserve Bank of India governor Raghuram Rajan and former deputy governor Viral Acharya offer a calibrated approach that the government would do well to consider, says the top edit here. Other views focus on the efficacy of higher import tariffs, securities regulatory enforcement and the politicisation of the Indian police. Kanika Datta sums them up.
The government has steadily raised import duties to protect domestic industry but, as A K Bhattacharya shows here, the results have been mixed and will impact India’s manufacturing competitiveness in the long run.
A series of regulatory enforcements is being applied like a hidebound set of rules and taking the Indian securities market to a domain of fraud without deceit. Somasekhar Sundaresan explains why here
The Delhi Police’s patently biased investigation of the February riots highlights a disturbing trend towards the politicisation of the law enforcement apparatus, leaving Indian citizens unsure of their constitutional liberties, says the second edit. Read it here
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