Modi government moves to ease business rules, weed out archaic laws

[Oracle]

A strong perception against illegal immigrants. Tarun Gogoi is on his third term. What are his chances for continuing further ?

Will the next govt be as accommodating.

I got this impression when hearing talks about our relations with bangladesh. Well Mamata is a factor but who is in charge of Assam will be the other.

NE, see what happened recently with the lynching. we are told this is a disturbed area.

Kashmir exemplifies what anil said and is the defacto situation. Another 'disturbed area'.

First of all, DE, with due respect you need to stop listening to people who have never been to the NE, as also make up opinions by reading articles. I have never been to Kashmir, so I wouldn't necessarily make a comment w.r.t. the demographics there.

Tarun Gogoi - He said sometime before there are no Bangladeshis in India. Then probably this year itself he raised the issue of illegal influx from Bangladesh. He is what almost every Congressmen is, an idiot.

There are no chances of BJP forming the next Government in Assam, AFAIK. And even if BJP forms the next government, what would they do? What did they do in J&K? BJP is just power hungry like the Congress, SP, BSP, etc.

Who is we here? The whole of NE is not disturbed, so get your facts straight. Not all towns/villages in Assam has AFSPA, nor does the rest of NE. The situation is a little hot in Manipur right now, but nothing that cannot be contained.

What happened with the lynching of Muslims in Kokrajhar is unfortunate and local intelligence failure. It is also due to other Bodo factions making peaceful overtures with the Central government and Songbijit trying to get more attention. The Songbijit faction had to make a dramatic statement. What better way than to kill hapless unarmed Muslims? And FYI, Songbijit is not even a Bodo, he is a Karbi, that stupid fuck. Not all Muslims in Assam and the NE is illegal Bangladeshis.

[Double Edge]

Javdekar replies to Shourie's critiques, sixteen minutes in.

[Double Edge]

Trying to deal with bond markets and introducing bankruptcy provisions is a foxtrot of one step forward and two steps back.

Reversing move to cut RBI powers wise | DH (editorial) | May 05 2015

May 5, 2015, DHNS

Finance minister Arun Jaitley has done well to withdraw the proposal to take away from the Reserve Bank of India its powers to regulate the bond markets. The government has also put on hold another proposal to create a Public Debt Management Agency (PDMA). The proposal had been made as part of this year’s finance bill. There was impropriety in going in for such an important reform through the finance bill. If at all the government was for it, it had to be thoroughly debated in parliament and a statutory amendment was the best means for that. But it is not just the way of effecting the change that made the government’s move controversial. The intention of the government and the merit of the change which was sought to be made have also been questioned. There has been an impression that the government and the RBI, headed by Governor Raghuram Rajan, are not on the same page on some issues. Therefore, the government’s move was seen as an attempt to whittle down the RBI’s powers. It has wisely refrained from giving strength to that impression.

In the present scheme, one important responsibility of the RBI is to regulate bond markets by managing the auction and sale of government bonds. It regulates public borrowing in such a way that there is enough liquidity in the market for companies and individuals borrow. This is apart from its functions to manage the currency value through money market operations, and the need to keep inflation within limits. Though the country’s fiscal position has improved a lot in recent months, it still does not meet the norms prescribed for it. So, depriving the RBI of its powers to regulate the money market and the bond market may not be right at this time.

A separate PDMA is a desirable goal. The RBI had itself once proposed this. This had also been recommended by committees on financial reforms and by experts. There is also the need to improve the working of the bond market to international standards by reforming it. But giving the regulatory powers to the Securities and Exchange Board of India, as the government proposed, may not be the best idea now. There is the need for more consultations on the matter among all the stakeholders. This is what the government has now indicated when it said it wants to prepare a road map after studying all implications of setting up an independent PDMA. It is best to go for it after the fiscal parameters stabilise and the RBI’s inflation control commitment shows results.

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Murmurs from the country's CFO's but they remain hopeful if not entirely satisfied.

Biz confidence in decline: D&B | DH | May 05 2015

New Delhi, May 5, 2015, DHNS
Chief financial officers fret over lower pace of reforms

A survey by Dun & Bradstreet, the world’s leading provider of global business information, has revealed that the level of optimism about business environment among chief financial officers (CFOs) in India has declined of late largely due to slower pace of country’s reforms than initially expected.

The pan India survey of corporate CFOs asked them about their confidence in the overall financial and macro-economic conditions for the April-June period of 2015 as compared with the same quarter of the previous year.

The CFO Optimism Index registered a decline for the third consecutive quarter during the second quarter of 2015, but remained high on a year-on-year basis.
While the optimism levels of both the services and industrial sector moderated during April-June, the optimism level of the services sector moderated strongly than the industrial sector, the survey said.

A majority of CFOs expected the level of financial risks on the company’s balance sheet and risk appetite to remain unchanged during April-June quarter of 2015.

“Slower pace of reforms than initially expected, weak profit level of corporates, non-revival in the demand conditions, policy logjam in the Upper House, coupled with a tepid global recovery have led to weak sentiment among CFOs,” it said.

While CFOs remain optimistic regarding both the domestic (75 per cent) and global (52 per cent) macroeconomic scenario, the optimism regarding the domestic economic scenario during April-June 2015 remained subdued compared with the last three quarters.