#everydayquiz #TOI #ET
The Times of India:India's Lucky Break
The collapse विफलता in the price of oil has provided the Narendra
Modi government a lucky break. Two years ago, India's economy seemed प्रतीत होना
vulnerable असुरक्षित to external shocks सदमा पहुँचाना.
Today , following a virtuous अच्छा cycle triggered सक्रिय करना by crashing अचानक गिरावट oil prices, economic fundamentals अत्यन्त महत्वपूर्ण are relatively robust मजबूत. For example, even a tightening कसकर बाँधना of US monetary policy has left India's
financial markets unscathed सकुशल. An economy relatively
insulated आवरण चढ़ाना from shocks
represents an opportunity for NDA. It has opened up political space to carry
out institutional reforms. This is an opportunity that must be seized जब्त. All that is required is political will
अभिलाषा.
To get a sense of what
this crash has meant, consider some facts. In the first seven months of the
financial year, India imported 7% more petroleum products by volume. The bill,
however, was lower by 43%. To NDA's credit, it used the opportunity to phase
out subsidy on retail price of diesel. But the government also raised taxes
repeatedly कई बार on petrol and diesel to limit consumer gains.
If a crash in oil price allowed NDA to enhance अधिक करना taxes without a public outcry कड़ा विरोध , it should make sure that windfall अप्रत्याशित लाभ revenue
is wisely spent. For instance उदाहरण , it should see through its plan of enhancing
public investment in infrastructure as a way to boost economic growth.
Moreover इसके अलावा, it is unwise मूर्खतापूर्ण to wait for a more propitious अनुकूल moment for big-ticket reforms as it is
premature कुसमय
to
write off छोड़ देना a cartel उत्पादक-संघ such as Opec. A year's fall in oil price has
already begun to knock out गहरा प्रभाव छोड़ना some recent entrants in shale oil production
and some Opec members such as Saudi Arabia may eventually get more
influential.Therefore, the current situation must be viewed as an opportunity
to roll out बेलना delayed reforms such as cash transfers in
place of product subsidies as well as in critical areas such as labour laws,
land acquisition प्राप्ति and education
The Economic Times:Why Turn the RTI Heat on the RBI?
The Supreme Court has
ruled that the Reserve Bank of India (RBI) and commercial banks must reveal
प्रत्यक्ष करना the names of defaulters
to people seeking such information under the Right to Information Act (RTI). On
the face of it, this sounds fair to citizens. But the regulator seems to be
getting a raw deal(एक कच्चा सौदा हो रही है). The RTI Act is meant to reveal reasons that
inform policymaking. A citizen can seek खोजना clarifications on what the government proposes
to do about something of vital अत्यावश्यक interest to her. Banks collect deposits from
the public and are accountable to the RBI for the prudent चतुर use of such deposits. It would be naïve
सीधा-सादा to expect any citizen
who seeks information from banks on, say , their inspection मुआयना reports to assess मूल्यांकन करना the financial strength of the bank or the
efficiency of its operations.
Deposits collected by
banks are repayable on demand. So, the key consideration for the RBI is to
protect depositor interest. The concern मामला that any misinterpretation of information
could trigger a run on the bank -and hurt public interest -is not misplaced.
Which is why the RBI has argued that in any policy of transparency पारदर्शकता , there must be processes to ensure that the
benefits of supervisory disclosure खुलासा are weighed against the risk to depositors.
The Supreme Court, however, thinks otherwise.
The list of defaulters
above `. 1 crore against whom cases are filed is made public by the Credit
Information Bureau (India) Ltd (Cibil). Cibil also maintains records of an
individual's payments pertaining to loans and credit cards from banks and other
lenders. The information is used to create Credit Information Reports and
credit scores that are provided to lenders to help evaluate मूल्यांकन loan applications. When there is already accountability उत्तरदायित्व to the public, why turn the heat on RBI?
Ideally आदर्शतः , the RBI and public
banks should be excluded वर्जित करना from the RTI.
#SSC #IBPS #SBI #RBI #NABARD #NICL #NIACL #CAT #NMAT #everydayquiz
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