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Reforms galore since 1991, but execution weak: Ex-RBI governor Bimal Jalan
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According to Jalan, expenditure reforms should be the focus of the government now. The ex-finance secretary also urged the govt to keep fiscal deficit under control.
Governments should make policies, but the execution should be left to private and public sectors, Jalan added.
(This story originally appeared in on Jul 23, 2021)Bimal Jalan, a former Reserve Bank of India governor and ex-finance secretary, has been a key player in reforms unveiled over the years. A veteran policymaker, Jalan says in an interview with TOI that India has introduced enough reforms, and now the focus should be on implementation on the ground. Excerpts:
NR Narayana Murthy s Infosys Market Cap And Largest Software Exporter
इंफोसिस की कीमत 2 करोड़ रुपए:1991 में खरीदने के लिए लगी थी बोली, आज 6.60 लाख करोड़ मार्केट कैप वाली कंपनी
मुंबईएक दिन पहले
कॉपी लिंक
एक कंप्यूटर को मंगाने के लिए 2-3 साल में लाइसेंस मिलते थे
1991 में कंपनी आईपीओ लाना चाहती थी, लेकिन कई घटनाएं अड़ंगा लगा दीं
देश की दिग्गज सूचना प्रौद्योगिकी (IT) कंपनी इंफोसिस के संस्थापक एन.आर. नारायण मूर्ति ने जबरदस्त खुलासा किया है। उनक
Improve Supervision Before Allowing New Exchanges 2
In January this year, we were finalising the final proofs of our new book
Absolute Power which documents the path-breaking rise of the National Stock Exchange (NSE) and the transformation it brought to the Indian capital markets. Parallel to NSE’s meteoric rise, India’s 23 stock exchanges and two national exchanges, the OTC Exchange of India and the Inter-Connected Stock Exchanges of India, disappeared leaving three survivors, with NSE enjoying a near-monopoly and the regulator too timid to supervise it effectively.
Arrogance, hubris and regulatory capture accompanies NSE’s rise. We have documented how the Exchange has been allowed to bypass almost every rule that governs exchanges appointment of key management persons, acquisitions, absence of standard operation procedures, influencing policy in its favour, destroying competition and, of course, permitting the infamous algo-scam that I exposed in 2015, based on