A strategic response to stress on public sector banks

Ticking time bomb

Business Standard

Back in 2011-12, before P Chidambaram returned as the finance minister, the fiscal deficit was Rs 5.16 lakh crore. In the Budget that Mr Chidambaram has presented to the Lok Sabha, the deficit for next year has been put only marginally higher, at Rs 5.29 lakh crore. In a three-year period (2012-15) during which average economic growth is almost certain to be the lowest in any three-year period since the early 1990s, the government's revenue has been budgeted to grow by 55.3 per cent, and expenditure by 33.7 per cent; the absolute figure for the deficit has thereby been kept virtually unchanged - and brought down from 5.7 to 4.1 per cent in relation to gross domestic product (GDP). This would be a considerable achievement, and points to the fiscal correction that Mr Chidambaram has achieved and postulated.Admittedly, though, the arithmetic is predicated on some ambitious assessments of tax revenue growth (19 per cent for next year, something that has not been achieved in any recent year

Predicated on recovery

Arvind Kejriwal's resignation is smart politics

Back to the aam aadmi

Inflation moderates, but government can and must do more

The dilemma continues

The perils of ignoring basic science research

Misplaced priority

Parliament's presiding officers cannot escape their responsibility

Pepper trouble

Panicked telcos shell out vast sums for spectrum

Now or never?

Another lost year

Slower growth is not impacting consumer price inflation

An increasing disconnect

Safety on Indian roads has become a major problem

Unsafe at any time

Disruptions of Parliament have harmed Indian democracy

Legislative paralysis

UBI in trouble

Expanding formal sector jobs needs benefits reform

A national problem

The hurdles in the way of military modernisation

Out of cash

Indecisiveness and delay mean no recovery yet

Weighed down

Maruti 800 culture

Marketers must seek watertight celebrity contracts

The endorsement dilemma

Independent directors' appointment norms need an overhaul

Jobs at the top

Troublingly, India is an outlier on intellectual property

Turning down knowledge

Why Microsoft's new CEO might be the right pick

Satya Nadella's tough job

At the Auto Expo, an industry ripe for change

In idle gear

Incisive columns and editorial comment by top opinion leaders

Page 234 - Editorial Comment