|
|
Politics again wins over economics
|
|
|
|
| Top Stories |
 |
|
|
|
Bikky Khosla | 29 Dec, 2015
The winter session of Parliament ended last week, but the question will continue to haunt us: when will the nation get rid of obstructionist politics? Ever since the NDA came to power, the opposition-controlled Rajya Sabha has remained unacceptably unproductive, resulting in slower pace of reform than expected. The Goods and Services Tax bill was not taken up for discussion; a new bankruptcy law was discussed, but its future still seems unsure. Overall, the Upper House passed only nine bills out of which seven were not even discussed. Partisan politics again got in the way of pushing reforms.
It has been reported that the Centre will send the Insolvency and Bankruptcy bill â which seeks to ensure insolvency resolution of corporates in a time bound manner and without much red tape â to a joint house panel, as demanded by some Opposition parties. It is expected that the move will help in fast passage of the bill, but it is difficult to forget that the Centre took the same route in case of the Land Acquisition bill, achieving little success. However, the bankruptcy bill is relatively less sensitive politically, considering which I expect faster passage of the bill. As per World Bank's Doing Business Report, resolving insolvency in India takes 4.3 years on average. The proposed legislation seeks to bring the required time down to 180 days.
Meanwhile, the Payment of Bonus (Amendment) Bill 2015, one of the few bills successfully passed during the Winter session, raised some concern for the industry, particularly the micro, small and medium enterprises. The amended act, which is slated to come into force retrospectively on April 1, 2014, provides for increasing the monthly bonus calculation ceiling to Rs 7,000 per month from the existing Rs 3,500. This means employees who have already received bonus have to be paid arrears of bonus. This, according to many, will not only result in higher costs but in administrative difficulties and harassment from the labour inspectors. The fear seems quite rational.
In another development, Prime Minister Narendra Modi last week said that the Centre would unveil details about 'Start up India, Stand up India' on January 16. He added that the project would bring about a big opportunity for the youth of the country. All this sounds encouraging. We lack a proper start-up ecosystem, which puts our wannabe entrepreneurs on the back foot. We need to change this situation. There is no dearth of government schemes aimed at entrepreneurship promotion, but what seems to be always lacking is any real effort to get down to the nitty-gritty. Only time will tell how far this new scheme will make a difference.
I invite your opinions. Best wishes for a splendid New Year.
|
|
|
| |
|
|
|
|
|
|
|
Obstucle by the rajyasaba Mps to pass the Important bills
Rakesh | Mon Jan 4 17:47:36 2016
Some political parties are not allowing to pass important bills like GST, etc because their hidden agenda are not accepted by the BJP government.
POLITICS Vs. ECONOMICS
Swami Vas | Sun Jan 3 01:40:31 2016
The nation witnessed a series of unprecedented developments as 2015 came to an end! One example of that is the irresponsible response of professionals in the form of returning awards complaining non-existent intolerance in the country! It is time for the Trade or Corporate sector of India as a whole to respond in unison and send a petition to the government to firmly deal with disruptive politics in Parliament and forge ahead with its economic policy reforms and get passed all pending bills notably Land Bill and GST! Other issues reflected in CEOâs note which are of concern to trade should also be brought to governmentâs notice.
Seasonâs Greetings and best wishes for spectacular success in all endeavors of Trade in the year ahead!
POLITICS WINS AGAIN OVER ECONOMOCS
HARISH BHATT | Fri Jan 1 12:25:51 2016
It is high time to amend constitution. only few sessions for general discussions major sessions for economic development. MP / party who misbehaves in parliament - to be debarred for full term. president should have power to take disciplinary action in the interest of the country.
Dirty Politics againsht development
NIRMAL KUMAR M. DUDHANI, Sarigam, Dist: Valsad | Fri Jan 1 10:13:55 2016
Now the time is coming to take more harsh decision to reduce politics done by opposition.In India Politicians interruption increases day by day due to fulfilment of their personal interest. They have no value of country and public money. They always looks after their Personal and Party interest.It is seen not only in Our highest Law Making Body Parliament but also at our present Panchayat Raj System.We can suggests following steps to taken jointly by all Political Party for the smooth running of Government at Centre.
1.First of all Upper House / Rajya Sabha shall be abolished because there is no reasons to continue this House as Lower House/Lok Sabha is already represented by directly Elected member by the People of the Nation.Member of the Rajya Sabha is send by Political Party with their personal interest and mostly they are not related to General People of the nation.This abolition will reduce Cost, Corruption of the Nation.
2.Secondly, Presently We have 3 Tier Panchayati Raj.(A) Gram Panchayat (B) Taluka Panchayat and (C)Zilla Panchayat.We see this system increases more middlemen and thus Corruption in local Level Politics.Now, Time is coming to abolished both Taluka and Zilla Panchayat which will reduce not only Corruption but also waste of public money due to Frequent election.All the Sarpanch of Gam Panchayat within a District can form a Zila Parishad to allocation of Fund.I think only taking above 2 steps our political corruption shall reduce by 50%.
the story is very true and reflecting the concerns of the nation lovers and entrepreneurs
Prabhanjan | Fri Jan 1 06:53:59 2016
The story is very true and reflecting the concerns of the nation lovers and entrepreneurs. Wondering how can we pass the feedback to the government and opposition to act wisely and live up the expectation of country.
Do we need two houses
C V Raju | Thu Dec 31 16:32:29 2015
The time has come the walrus said -
to talk of many things
Of lower house and upper house
Which is the one that stings
Even with an overwhelming majority the government has come to a standstill - earlier it was policy paralysis - no it is political paralysis.
The Rajya Sabha was conceived as a check on the decisions of the Lok Sabha to protect the states and the best interests of the nation. Today it does neither.
Has the time come to rethink the need for a Rajya Sabha which has become the leader of the opposition with a single point agenda to oppose- period. Just as the planning commission went has the Rajya Sabha too outlived its function.
GST BILL LEFT HANGING
S. RAGHAVAN | Thu Dec 31 12:06:45 2015
Congress which has held the country at ransom over the GST bill will feel the sting from public and industries in particular in the coming elections over India.
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
|
|
| Daily Poll |
 |
 |
| Will the new MSME credit assessment model simplify financing? |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
