Daily Hindu Editorials

The Economic Survey underscores the need to maintain fiscal credibility The Economic Survey for 2017-18 paints the picture of an economy that gives reason for both optimism and caution. It projects that GDP growth could accelerate to 7-7.5% in 2018-19, from 6.75% in the current fiscal, reinstating India as the world’s fastest-growing major economy. According to Chief Economic Adviser Arvind Subramanian, the key factors contributing to the positive prognosis are the reform measures: the July 1 implementation of the Goods and Services Tax and the steps taken to address the twin balance sheet problem in the banking sector. The latter includes the push to use the Insolvency and Bankruptcy Code for debt resolution and the initiative to recapitalise public sector banks. Adding to these domestic enablers are the fair winds of a global recovery that have already lent a lift to overseas demand for India’s goods and services. But capitalising on these favourable factors while remaining vigilant

At the Australian Open, Roger Federer gave us more reasons to believe he is the greatest ever Roger Federer’s iridescent late-career renaissance continued at the Australian Open on Sunday. The Swiss maestro has now won three of the last four Grand Slam events he has entered — a success rate great champions usually achieve during their athletic prime, not in the mid-30s. Indeed, Ken Rosewall, who claimed the 1972 Australian Open at 37, is the only man older than Federer (36 years and 173 days) to have won a Major singles title in the Open Era. Perhaps the most remarkable aspect of Federer’s record-extending 20th Grand Slam crown was the certainty that accompanied it. Where last year’s triumph in Melbourne was startling — it was his first Major victory in nearly five years — Federer entered the second week this time as the firm favourite. His striking, well-proportioned game looked in good order. Significantly, he seemed in no trouble taking the ball impossibly early; his repurposed sin

The issue of office of profit must be understood as part of the legislature’s institutional separation On January 21, President Ram Nath Kovind approved the recommendation of the Election Commission (EC) to disqualify 20 Members of the Legislative Assembly (MLAs) of the Aam Aadmi Party (AAP). They were deemed to have been holding offices of profit as they were parliamentary secretaries to ministers in the Delhi government. The party protested the move saying the EC had acted in a unilateral manner as its MLAs had not been given a hearing. There is a lot at stake here since disqualification necessitates by-elections. However, due to the comfortable majority the AAP enjoys, the move will not bring down the Delhi government. 🔷  Office of profit debate There are multiple questions this issue raises. Did the EC act in a fair manner and was its decision to disqualify the MLAs legally sound? The appointment of parliamentary secretaries also raises broader concerns about the nature of exe

Can we expect the current investment slowdown to reverse soon? The response to last year’s Economic Survey was overwhelming, humbling, and, of course, burdening. According to behavioural economics, humans place greater welfare weights on avoiding loss than experiencing equivalent gain. If true, the response to last year’s Survey has created a heightened performance anxiety of falling short relative to higher expectations. The other challenge doing this year’s Survey, the fourth of the current team and the last in the term of this government, is avoiding the risk of jadedness. How can the Survey consistently maintain a freshness of approach, rigour of analysis, relevance of material, and novelty of ideas? 🔷  A rich economy Luckily, to the rescue comes the Indian economy with its infinite richness and complexity, throwing up limitless opportunities for investigation. Luckily too, economic policy over the past four years has been a crucible for many policy experiments that cry out fo

Gandhi knew well that one cannot be a friend of Truth without living on the edge January 30 marks the 70th anniversary of the assassination of Mahatma Gandhi. Once again the ideas of non-violent resistance and self-transformation are brought before the public arena. But more than ever, this is an opportunity to evaluate the theoretical and practical status of M.K. Gandhi in India and in the world. 🔷  Gandhi everywhere It is practically impossible to live in India and not to see or hear references to Gandhi. Gandhi is by far the most recognisable Indian put on currency notes. He is also honoured all over the country with statues erected in the middle of town squares and his pictures posted on the walls of business offices and shops, even restaurants. But this does not mean necessarily that Gandhi is well read and understood by all Indians. A quick look at everyday Indian politics and the debates in the press and elsewhere shows that the spirit of Gandhi is no more fully present in h

There is enough data about the learning crisis in India. What is needed is effective decentralised action Every year in January, when the Annual Status of Education Report (ASER) is released, there is a hue and cry about the status of children’s learning in India. The hand-wringing, debates and discussions die down after some time. But this year’s situation is different. India is in a position right now to think and act differently. 🔷  Benefits of RTE First, this year is historic because the children who are today in Class VIII are the first cohort to benefit from the Right to Education Act, which came into effect in April 2010. With almost all these children not only enrolling in school but completing at least eight years in the education system, we are in an excellent position to think seriously about what eight years of schooling should entail and what it should enable children to do. Second, there are now two new sources of data available on children’s learning. Last week, ASE