SHOTS AND MOONSHOTS
THE WEEK|February 13, 2022
Nirmala Sitharaman’s ‘booster’ budget is aimed at taking India to the global economy’s high table, but over-optimism and ignorance of ground realities could spoil the party
K. SUNIL THOMAS
SHOTS AND MOONSHOTS

What’s in a name? A currency by any other name would sound just as sweet. Sans a hefty 30 per cent to Caesar, it should. Semantics is what Finance Minister Nirmala Sitharaman took refuge in over the confusion within the government on what to do with cryptocurrencies. Consultations are on over re-drafting the Cryptocurrency Bill, which originally sought a blanket ban. Hence, the next best thing—keep a straight face and refuse to call it ‘cryptocurrency’, even while you impose a tax on it.

“Loosely what we refer to as crypto is not currency…[only] what Reserve Bank will issue will be digital currency—anything that prevails outside is not currency [but] assets. Nothing stops me from taxing it,” Sitharaman said about her budget proposal to impose a 30 per cent tax on ‘virtual digital assets’.

Ironically, that may well be one of the clearest intentions the finance minister expressed in her fourth budget outing. Most of the rest ride high on a wing and a prayer of earnest optimism of massive government spending on highways, railways and other infra projects leading to a domino effect of increased money flow through the system generating jobs, which making people spend more, which making the private sector invest more, which leading to economic growth…. you get the drift.

Bu hikaye THE WEEK dergisinin February 13, 2022 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye THE WEEK dergisinin February 13, 2022 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

THE WEEK DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
William Dalrymple goes further back
THE WEEK India

William Dalrymple goes further back

Indian readers have long known William Dalrymple as the chronicler nonpareil of India in the early years of the British raj. His latest book, The Golden Road, is a striking departure, since it takes him to a period from about the third century BC to the 12th-13th centuries CE.

time-read
3 dak  |
November 17, 2024
The bleat from the street
THE WEEK India

The bleat from the street

What with all the apps delivering straight to one’s doorstep, the supermarkets, the food halls and even the occasional (super-expensive) pop-up thela (cart) offering the woke from field-to-fork option, the good old veggie-market/mandi has fallen off my regular beat.

time-read
2 dak  |
November 17, 2024
Courage and conviction
THE WEEK India

Courage and conviction

Justice A.M. Ahmadi's biography by his granddaughter brings out behind-the-scenes tension in the Supreme Court as it dealt with the Babri Masjid demolition case

time-read
2 dak  |
November 17, 2024
EPIC ENTERPRISE
THE WEEK India

EPIC ENTERPRISE

Gowri Ramnarayan's translation of Ponniyin Selvan brings a fresh perspective to her grandfather's magnum opus

time-read
4 dak  |
November 17, 2024
Upgrade your jeans
THE WEEK India

Upgrade your jeans

If you don’t live in the top four-five northern states of India, winter means little else than a pair of jeans. I live in Mumbai, where only mad people wear jeans throughout the year. High temperatures and extreme levels of humidity ensure we go to work in mulmul salwars, cotton pants, or, if you are lucky like me, wear shorts every day.

time-read
2 dak  |
November 17, 2024
Garden by the sea
THE WEEK India

Garden by the sea

When Kozhikode beach became a fertile ground for ideas with Manorama Hortus

time-read
4 dak  |
November 17, 2024
RECRUITERS SPEAK
THE WEEK India

RECRUITERS SPEAK

Industry requirements and selection criteria of management graduates

time-read
3 dak  |
November 17, 2024
MORAL COMPASS
THE WEEK India

MORAL COMPASS

The need to infuse ethics into India's MBA landscape

time-read
5 dak  |
November 17, 2024
B-SCHOOLS SHOULD UNDERSTAND THAT INDIAN ECONOMY IS GOING TO WITNESS A TREMENDOUS GROWTH
THE WEEK India

B-SCHOOLS SHOULD UNDERSTAND THAT INDIAN ECONOMY IS GOING TO WITNESS A TREMENDOUS GROWTH

INTERVIEW - Prof DEBASHIS CHATTERJEE, director, Indian Institute of Management, Kozhikode

time-read
3 dak  |
November 17, 2024
COURSE CORRECTION
THE WEEK India

COURSE CORRECTION

India's best b-schools are navigating tumultuous times. Hurdles include lower salaries offered to their graduates and students misusing AI

time-read
8 dak  |
November 17, 2024