A shining start to gold monetisation

The much-awaited draft guidelines on the Gold Monetisation Scheme (GMS) are finally out. At first glance, the most noteworthy changes that this scheme brings about are two. One, it creates an effective linkage between the Gold Deposit Scheme (GDS) and the Gold Metal Loan (GML). Two, it reduces the minimum deposit amount from 500 to…

EEU-Vietnam FTA: A Road Map For India

The protracted Vietnam War (1954-1975) had a deleterious effect on the country’s economy. It remained impoverished and politically isolated during that period. When the war finally came to an end, Vietnam was one of the poorest countries in the world, facing many fundamental problems such as the shortage of food, hyperinflation, huge unemployment and corruption.…

If policy could be more real

India’s economy and society are marked by a deep and extensive dualism. There are examples galore — backward agriculture versus global firms; rural versus urban world views; dehumanising slums cheek by jowl with swanky highrises; wretched urban squalor five miles away from the New Delhi Municipal Corporation’s carefully tended Bungalow Zone in Lutyens’ Delhi; the…

RBI`s role needs to change: Draft Indian Financial Code prises open the black box of monetary policy making

Financial sector regulation in India has developed in an ad hoc manner in response to evolving requirements. Consequently, it suffers from substantial prudential weaknesses and regulatory arbitrage that makes for heightened risks for both investors and financial consumers. By putting together a modern law for governing the complex financial sector, the draft Indian Financial Code…

Will Modi lead India to new heights?

There are some uncanny similarities between Narendra Modi and Barack Obama. Both have risen from humble beginnings, both are charismatic public speakers and consummate communicators on social media, both were relative outsiders to the capitals where they now hold the most powerful office, and neither is dependent on their political party for their electoral success.…

Will India miss the E-Comm bus?

New Delhi: After a year of maybe maybe-not sound bites, the Government seems ready to bite the E-commerce bullet in right earnest. The Commerce and Industry Minister, Ms. Nirmala Sitharaman has held a meeting with various stakeholders from the industry to listen to different viewpoints on issues related to FDI in B2C e-commerce. The Hon’ble…