The government's proposal to extend the 15th Finance Commission's term by a month and mandate it to suggest ways to fund defence and internal security goes against fiscal federalism. It's the Central government's job to find defence funds. The bill for internal security is shared between the Centre and states. Should the Commission make suggestions for such tasks, asks Y V Reddy
Immigration is the most contentious issue between Britain and India. Boris Johnson, during the Brexit referendum campaign, promised to open up immigration from Commonwealth countries, but as Prime Minister he’s touting a different plan. The prospects of improved India-UK relations don’t look too promising, writes Hasan Suroor.
Financial markets exist to bring people together so money flows where it is needed the most: that's the theory. Businesses in India right now find it difficult to raise capital. It's time for participants in financial markets to be reminded that they are the gatekeepers of people’s money, writes Jigar Mistry.
Fundamentals, liquidity, and sentiment—three of the key factors that drive stock markets—are in short supply in India. The best that the market can hope for is government action in terms of reforms that will help bring back investor confidence, says our first edit
Issues in implementing the GST remain unaddressed two years after the tax reform was introduced, said the Comptroller and Auditor General of India recently. Simplifying tax rules will help reduce litigation and improve collection, says our second edit
Quote of the Day
"Business failures in this country should not be tabooed, or looked down. On the contrary, we should give an honourable exit or resolution to the problem in letter and spirit of the IBC." Finance Minister Nirmala Sitharaman, commenting after Cafe Coffee Day founder V G Siddhartha's death.