Take cautious risks

Lobbyists are up in arms against the RBI’s decision to discontinue the now-infamous Letters of Undertaking (LoUs), a credit instrument misused by Nirav Modi to cheat the nation of Rs 13,600-crore. The usually unctuous industry associations — in effect lobby groups mainly controlled by cream of India Inc. — have quickly labelled the move as a death knell for the vulnerable small enterprises. They argue that the withdrawal of LoUs

Allies on the offensive

The allies of the BJP in the National Democratic Alliance (NDA) are increasingly demanding their pound of flesh, seeing its vulnerability in the wake of the party’s string of defeats in by-elections in the country’s northern belt. The latest to jump on to the anti-BJP bandwagon is the Telugu Desam Party whose kingpin, Chandrababu Naidu, is firing salvos at the BJP and distancing his party from the NDA. Naidu has

Firm farmers

Agrarian distress is an undeniable fact. Across the land, farmers are suffering for want of a sustained approach to alleviate their plight. This stems from a woeful lack of irrigation facilities, an inordinately high reliance on the monsoons, low-yields and unremunerative price for the produce, exploitation by money-lenders, small land holdings and, above all, labour-intensive farming and too many mouths to feed on small holdings. Maharashtra, particularly, has been in

Loss of face for BJP

UP Chief Minister Yogi Adityanath himself made the Phulpur and Gorakhpur bypolls a battle of prestige for his government, going so far as to say the results would set the tone for the 2019 general elections. The results are out and BJP has faced a humiliating defeat in both Lok Sabha seats. First in Bihar and now in the UP bypolls, the social experiment of coalescing the Dalit and the

Logjam and law

The current stand-off in Parliament, apparently, is over the demand for a debate over the Nirav Modi-PNB scam. The Opposition insists on an immediate and open-ended debate. The demand is legitimate. After all, the public sector bank has been defrauded by the high-profile jeweller who has since left the country and refuses to honour summons from the CBI and other agencies. On its part, the Government seeks to amplify the

Parting of ways

When AP Chief Minister N Chandrababu Naidu announced his decision to recall his two ministers from Prime Minister Narendra Modi’s Cabinet, following the Centre’s refusal to grant Special Category Status for AP, it had a distant but familiar ring. Union Ministers K Chandrashekar Rao and A Narendra pulled out from UPA-I as they felt their continuation was hurting the cause of separate Telangana movement. The exit of TRS Ministers from