Some of the headlines in yesterday's newspapers made interesting
reading:
A few days ago, the finance minister had categorically dismissed
the talks about changes in the GST rates. She was quoted having said that
"Buzz is everywhere other than in my office". Yesterday, West Bengal
Finance Minister Amit Mitra, who is also former head of GST Council and FICCI
General Secretary, reportedly, wrote to the finance minister requesting, “We
should not in any way tinker with the rate structure or impose any new cess at
a time when the industry and consumers are going through the most distressing
times with ‘stagflation’ knocking at our door (stagnation accompanies by
growing inflation).” (see
here) It is very difficult for a common man to assimilate, how such a senior
person would write an official request, if there is no buzz around.
The commerce minister highlighted that he has taken an exercise
to consult country’s top 25 corporate houses and lenders, to assess their
investment plans and also try and resolve their issues that they may be facing
in their bid to expand operations. The list of 25 included Aditya Birla Group
Chairman K. M. Birla, among others. (see
here)
The telecom minister expressed his displeasure over the comments
made by the promoters of beleaguered Vodafone-Idea, in which Birla group is
co-promoter. Referring to the comments made by Vodafone CEO that running
business in India may not be viable unless the government helps, the minister
said, “I don’t appreciate this kind of statement. Very firmly and very clearly.
We have given all the opening for doing business but no one should dictate
terms on us. India is a sovereign country...,” It is pertinent to note that K.
M. Birla has recently echoed the views of his British partner. (see
here)
Reportedly, As many as 43 out of 85 coal blocks allotted after
2015 to PSUs have yet to receive 159 clearances, mostly because allottee PSUs
have not taken necessary actions. These blocks were either auctioned or
allotted to public sector companies by the government following cancellation of
204 blocks, including 33 operational blocks, by the Supreme Court in 2014. (see
here) Incidentally, the incumbent commerce minister was in charge of coal
ministry during May 2014 to May 2019.
India now ranks much lower than Bangladesh on many parameters,
including GDP growth (8.15% in FY19). The latest is the gender gap. India is
now ranked 112, down 4 places since last year, in terms of gender gap amid
widening disparity in terms of women's health and survival and economic participation
-- the two areas where the country is now ranked in the bottom-five. Political
rhetoric and shenanigans apart, Muslim countries like Bangladesh (50th) and
Indonesia (85th) are doing much better than us in bridging the gender gap. (see
here)
The point is that the government is obdurately refusing to
accept that the solution lies within. Instead of introspecting they are relying
on "experts", "vested interests" and
"uninterested" for solutions. Obviously, they would not get the
appropriate answers.
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