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In this new structure, if India has to stake a claim to permanent membership, it has to singlemindedly focus on economic growth, with concomitant military might.

Why energy & subsidy reforms are more important than GST?

Arun Jaitley's repeated batting for a flawed GST is worrisome. GST is a good tax only to the extent it is an all-encompassing impost that replaces all existing state and central taxes. But the GST now planned has too many flaws, and too many exclusions.

Why payments, small banks will revolutionise banking system

While payment banks, driven by mobile connections and technology, will extend the liabilities side of the business by making banking accessible to everyone, small finance banks will enable more focused lending to small businesses and borrowers, thus extending the assets base of the banking system.

Doing business in India: What does World Bank report show?

The World Bank report confirms that these reforms are a recent development, and not the result of long-term changes initiated much earlier.

Its advantage BJP in Bihar but Nitish can't afford to loose

It is Nitish Kumar who should be biting his fingernails. This is a battle he cannot afford to lose, but even if he wins, he will confront the nightmare of ruling with Lalu Yadav holding the reins from the backseat.

Why RBI's Rajan has little reason to hold back rate cut?

RBI Governor Raghuram Rajan has little reason to hold back on his rate cut this month. Perhaps he is holding his hand to see what Janet Yellen is upto at the US Fed later this week. The Fed meets on 17 September.

Refugee crisis: Death of toddler shows how EU views itself

Aylan Kurdi's death will force European leaders to introspect and figure out what Europe has become, as opposed to its glorious self-image as the flag-bearer of human rights around the world.

Inflation debate: Who is right between CEA and RBI Guv?

The government's two five-star economists Raghuram Rajan, of the Reserve Bank, and Chief Economic Advisor Arvind Subramanian, seem to be poles apart when it comes to their readings on inflation.

Why shouldn't Centre back rotten GST & leave it to states?

Nothing illustrates this singular lack of national thinking at the state level more than the way they have approached the GST issue. The states not only get to eat their cake but they get to have it too. They think they are doing Delhi a favour by agreeing to a rotten GST.

Where did PM go wrong on Land Bill & how can he deliver now

With crucial state elections now due every year leading upto 2019, one can wonder if this government will ever re-discover its appetite for reforms — even though the options of leaving it all to the states still exists.

Why Patels' OBC status, quota demand is counter-productive?

The violent agitation by the Patidar Patels in Gujarat demanding OBC status and quotas in education and jobs is one more indicator that the whole business of affirmative action has become counter-productive in India.

Why are global markets crashing & how can it benefit India

Once the bottom is reached, the Sensex will start its upward momentum soon enough. Investors should sit tight, and start investing through systematic investment plans.

Here's why census data 2011 can be have huge implications

The drop in the Hindu share of India's population below the psychologically significant 80 percent level to 79 percent could easily have been predicted, given demographic trends seen for over a century.

Why delaying OROP is mistake? Modi should implement it now

Morally, politically and economically, Narendra Modi is making a serious mistake by unconscionably delaying OROP. Most arguments used against OROP are misleading, if not plain wrong.

Payment banks can be bane to already struggling PSU banks

If bad loans are blighting their assets, soon payment banks will be stealing their low-cost deposit bases, as State Bank Chairman Arundhati Bhattacharya said the other day. This means their cost of funds will rise as competition for funds gets sharper, making it even tougher for them to provide for bad loans through higher profitability.

Are payment banks threat or allies to regular banks?

Raghuram Rajan said payment banks could be allies to regular banks in reaching banking to remote areas where there can be no branches, SBI chief Arundhati Bhattacharya thought they could intensify competition to the deposits sphere and eat into their margins.

Payment banks: How it will revolutionise money movement?

Eleven private parties were given licences to set up "payment banks" - banks which can do everything a regular bank can do - take deposits, pay bills, issue cheques and drafts.

Moody's India outlook: What FM needs to do to boost growth

The reduction in Moody's growth target for India in the current year due to a below-average monsoon and the stalling of reforms should give the finance ministry another wakeup call for action.

Ruckus in parliament: Why is politics so bitter & personal?

The rise of Modi's BJP is a direct threat to the Gandhi family's control of the Congress because it challenges the idea of the party as family property.

How can Nestle jump Maggi ban? Compromise is only solution

The real problem of food safety lies not in our laws, but in our inability to create enough testing systems with adequate manpower to do the job consistently and fairly.

Congress bleeds support, gets isolated in monsoon session

If the Congress-backed alliance manages to win in Bihar then the party might just find a new lease of life. Rahul Gandhi may have emerged victorious after the battle of the monsoon session, but then winter is still coming.

Why RBI should buy gold, cushion forex reserves

As far as the RBI is concerned, it has to balance its US dollar bets with gold. When and if the dollar falls, the fall in the value of our forex reserves will be cushioned by our holdings of gold.

Modi has to rediscover his mojo, refocus on brand building

If Brand Modi is fraying at the edges, it's because he has lost sight the fundamentals of brand building and strengthening. Time he read the old branding texts once more.

How India can use 'captured terrorist' to its own advantage

Naved's capture will help us combat this subtle pressure for a while. But the Pakistani attacks will continue, as jihad is business-as-usual for our western enemy. Beyond embarrassment, Naved will not do much for us.

Cong may force BJP to seek cancellation of suspended MPs

While Sonia Gandhi marshalled the slogan shouting MPs outside Parliament, MPs from The Left, Rashtriya Janata Dal, and RSP protested inside against the suspension of the Congress legislators.