Daily Hindu Editorials

The 10% long-term capital gains tax should be revised by allowing indexation The Centre’s decision to bring back the long-term capital gains tax (LTCG) on equities, which was scrapped in 2004-05, seems to be a hasty move to plug the widening fiscal deficit ahead of an election year. With investors in equities enjoying terrific returns over the last few years, it is not a surprise that they have become targets for the government to secure additional revenue. The decision to announce the imposition of 10% tax on gains of over ₹1 lakh made on any form of investment in listed equities and mutual funds with a holding period of over one year will hit the average middle class investor. Not surprisingly, the sharp fall in both the Nifty and the Sensex after Budget day has been linked to the new tax, along with the government’s abandonment of fiscal goals. But given that the sell-off was part of a wider correction in global stock indices, it may be hard to draw a definite conc...

It is unusual for a health programme to become the most prominent feature of a Union Budget. The previous government missed the bus when it failed to implement the recommendations of the High-Level Expert Group on Universal Health Coverage (2011). Yet, those recommendations resonate in the Budget of 2018, with commitment to universal health coverage, strengthening of primary health care (especially at the sub-centre level), linking new medical colleges to upgraded district hospitals, provision of free drugs and diagnostics at public health facilities, and stepping up financial protection for health care through a government-funded programme that merges Central and State health insurance schemes. Whatever be the time and resources needed to fully implement these initiatives, the Budget sends a strong message that health is now in the spotlight of politically attractive policy pronouncements. From now on, no government can ignore people’s legitimate aspiration to get the health ser...

The euphoria over reports of India moving into the top 100 in the World Bank’s Ease of Doing Business global rankings, which is credible, is bound to be dampened if there is acknowledgement of our dismal performance in one key component in the indices that make up these rankings; if there is a component that still has a dismal ranking it is the one about “enforcing contracts”. A nation’s ranking in the “ease of doing business” index is based on the average of 10 sub-indices which are: starting a business; dealing with construction permits; getting electricity connections; registering property; getting credit; protecting minority investors; paying taxes; trading across borders; enforcing contracts; and resolving insolvency. 🔹Distance to frontier Of these, the one about “enforcing contracts” is directly dependent on a country’s ability to provide an effective dispute resolution system. In the World Bank report which covers 19...

Every riot today produces a set of staged narratives which are eerie to watch and strange to listen to. A riot is no longer an act of production where the narrative focusses on causes but an act of consumption where a variety of narratives create a quilt patch we call history. The actual event is enacted in a limited space, while the narratives of the event spread out in oceanic circles for consumption. The riots in Kasganj convey that quality and need to be seen within an analytical frame. Today, narratives of riots are the Rorschach test of a people, capturing their fear and anxieties. Fractured narrative This much is clear. It was riot on Republic Day, invoking a miracle gone wrong. In a way the performance already enacts the problematics of memory, not just that it was January 26 but the violence took place on Abdul Hameed Avenue in Baddu Nagar, a Muslim majority area. It was probably the most ironic tribute to a great soldier. Riots too often begin with a festival-like quality. ...

Indian cricket has its work cut out to mentor the Under-19 team for the bigger stage India’s title triumph in the Under-19 cricket World Cup at the Bay Oval in New Zealand seemed inevitable. Prithvi Shaw’s boys, astutely coached by Rahul Dravid, maintained an unbeaten record through their three-week sojourn. The rousing campaign commenced with a 100-run win against Australia on January 14; in subsequent games, Papua New Guinea, Zimbabwe, Bangladesh and Pakistan were all emphatically defeated. There were no big-game nerves and even in the much-hyped semifinal against Pakistan, India pocketed a facile 203-run victory. In the summit clash against Australia, Shaw’s boys followed their template of dominance. Australia was bowled out for 216 and India cruised home in 38.5 overs with eight wickets to spare, and enjoyed the added lustre of opener Manjot Kalra’s unbeaten 101. Through the tournament India found diverse heroes. Fittingly, its batting troika of Shaw, Kalra ...

How Rash Behari Bose introduced spicy curry to Japan as part of his anti-colonial struggle Ask the average person to guess Japan’s national dish and they’ll likely hazard sushi or soba. But an equally fair contender for the title is curry. The Japanese Navy even has a “Curry Friday” tradition where all navy canteens offer curry and rice as a Friday staple. Curry in Japan bears only a superficial resemblance to its Indian ancestor. It is more glutinous and is usually mixed with wheat flour. It’s also sweeter, and often includes ingredients like apple and honey. History of the dish In Japan, the dish dates to the 1870s when naval officers of the British Royal Navy who had picked up the curry habit in India passed it on to Japanese colleagues. The earliest recipes for raisu karī (rice curry) in Japanese cookbooks were lifted from Mrs Beeton’s Book of Household Management, in which the ingredients included curry powder, flour and sour apples. Sin...