Economist Raghuram Rajan has recently said that sanctions are also weapons of mass destruction. An analysis of how these impositions can create long-term havoc and imperil commercial, fiscal and industrial activity across the globe. Also, a look into the actual beneficiaries of the war.
Recently, during his 5th Late Shri Lavu Venkateswarlu Endowment lecture in Vijayawada, Chief Justice of India (CJI) NV Ramana espoused a very fine hypothesis—the need to liberate the institution of public prosecutors. While this (freedom) is an established concept in many developed economic and social systems, including the UK and especially the US, it is a somewhat foreign concept for India. Practitioners of law and litigants in this country have suffered enough for this (lack of freedom).
The system can lament, apportion blame, but it never interfered, never once tried to understand why a man would want to live among tribals and work for them, ignoring calls to comfort. Death was virtually delivered to Stan Swamy’s cell by the system.
The Covid-19 pandemic will feel like a mild shiver down the spine of the world’s financial markets if China’s second largest real estate developer Evergrande defaults. This will be comparable to the subprime disaster of 2007-08.
The big talk about huge loans being given to this sector is no more than just that, big talk. It seems India has patience only for multi-billion dollar organisations and not for those who provide sustenance for most of the workforce of the country.