A defining feature of US President Donald Trump’s approach to any issue — be it related to economy or foreign policy — is complete unorthodoxy. Whether it is the policy stand itself or the message, medium, language, venue or setting in which his views and decisions are pronounced, the approach is completely antithetical to the conventional ways of doing things. The final effects of this unorthodox approach can be known only in due course — particularly with regard to Trump’s approach on economic issues that had long confronted earlier US administrations. It follows quite reasonably that when the approach is completely orthodox and unchanged from the past, the outcomes will also be in line with the past. Such a denouement seems to await the Indian approach to some key economic policy issues. One wonders if India should also adopt an unorthodox approach, a la Trump, in order to induce materially different outcomes. Indeed, in the backdrop of what seems a secular economic downtrend, one would have thought unorthodoxy is clearly called for.
We shall take up two policy issues here, regarding which the current approach is no different from that followed or attempted in the past 30 years.
One is the merger of public sector banks, to create what policymakers call as a few banks big enough to do big-ticket (lending) business and compete on a global scale too.
Another is the transfer of dividends and “redundant” reserves from the Reserve Bank of India’s balance sheet to the government.
Bank mergers
Denne historien er fra September 25, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 25, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Covid Presents An Opportunity For India
India must attract investors exiting China post-Covid. Streamlining of project clearances and relaxation in FRBM norms will help
Did Alternative Assets Shield You From Covid-19 Volatility?
The assets closely linked to stock and debt markets could not stave off the losses
How To Put Aircraft To Bed
Preserving grounded planes, to get them up and flying at short notice, is a challenging task. Ashwini Phadnis captures the process
There Can Be No Going Back On WFH
Covid-19 has fast-forwarded the shift to ‘work from home’. However, some face-to-face connect will always be needed
UN, WHO Urged To Ensure ‘Benefit Sharing' Of Covid-Related Data
Biopharma firms should reach vaccines, medicines to poor nations at an affordable price, say civil society bodies
With No Clear Signal From Rlys, States Explore Ways To Bring Back Migrants
Quarantine centres, cross-country buses being arranged even as migrants hop on to boats, trucks and ambulances
Centre Allows All Neighbourhood Shops To Open But With Riders
Final call will be taken by local authorities; shopping complexes that draw fewer ‘outsiders’ are permitted to operate
Covid Impact Relatively Muted In India
Compared to Italy and the US, India’s rate of infection spread has been slow. This can be attributed to the strict measures in place
How Global Trade Will Fare Post-Covid
China isn’t likely to lose its pre-eminent position soon. India, for one, will need to make manufacturing globally competitive
How To Curb Harassment In The Virtual Office
Training and sensitisation are essential. Institute a strict dress code and chat etiquette to ensure professionalism during video calls
