The recent demonetisation has destroyed Rs 2-3 lakh crore of black money.But we await the logical continuation against the menace
The 14th edition of the World Bank’s Doing Business report—commonly referred to as ease of doing business (EODB)—ranks India at 130 out of 190 countries. The country’s rank has moved up by just one notch since last year and, to that extent, it is disappointing. Prime Minister (PM) Narendra Modi had announced an ambitious target to take India to the top 50 by 2018. EODB is also integral to the prime minister’s Make in India initiative.
The EODB ranking is based on ten well-defined metrics, and India fares poorly on four of them: Starting a business, getting construction permits, resolving insolvency and enforcement of contracts. The latter two are getting addressed through a new insolvency and bankruptcy code and judicial reforms, respectively. The first two require the cutting of the proverbial red tape and the unnecessary burden of bureaucracy.
The hidden and silent word in this context is ‘corruption’. The prime minister and his party rode to victory on a powerful anti-corruption plank. The outcome of corruption is black money and ill-gotten wealth. Black money is created not only by tax evaders or government officials through the abuse of their discretionary powers, but also more ominously through illegal activities such as terror financing and drugs. So, an attack on black money was to be expected, as part of a multipronged, anti-corruption strategy.sa
What the nation was unprepared for, was not just a ‘surgical strike’, but a pressing of the nuclear button. The PM’s announcement—to demonetise high-value currency notes of Rs 500 and Rs 1,000 denominations on November 8—meant that 86 percent of the nation’s currency would cease to be legal tender instantly and was an astounding, unprecedented, audacious and politically risky move.
この記事は Forbes India の December 9, 2016 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Forbes India の December 9, 2016 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
