ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Forbearance over Default

In a move ostensibly aimed at helping micro, small and medium enterprises hurt by demonetisation and the goods and services tax regime, and burdened with distressed debt, the Reserve Bank of India acceded to the demands that a lenient regime of debt restructuring should be put in place. However, the evidence suggests that this would not go very far in helping the units in this large sector. This gives rise to the suspicion that the real intent of the move is to open the door to a return to a regime wherein bad debt, resulting from default on debt service by large corporate borrowers, is restructured at the cost of the taxpayer.

Is the Pathalgadi Movement in Tribal Areas Anti-constitutional?

The Pathalgadi movement has stemmed from the unabated alienation of land from tribal people, and is a democratic assertion for the realisation of their rights in light of the government’s failure to implement the same.

World Order without Hegemony

Most Western theories presume that a titantic clash will occur during a power transition. But what if rising powers cannot assume the burden of underwriting the world order? We must contemplate alternate futures where a changing balance of power does not necessarily yield a new hegemony or a breakdown in the basic tenets of international order.

Where Marriage Is Dangerous for Women

“Better to have never been born than to be born a woman!” I have heard this sentiment expressed numerous times by low-income Dalit and lower-caste women friends of mine in Tamil Nadu. Married women in urban slums and low-income settlements have a tough time keeping their families functioning...

Army’s Robustness in Aid of Civil Authority

When the army is called in aid of civil authority, robust action taken by the army in a timely manner can prevent civil disturbance from exacting a strategic cost. The recent revelations on army inaction in the critical first 24 hours during the Gujarat carnage in 2002 are examined.

War on Air Pollution Will Not Be Won in the Courts

Despite certain measures adopted in the last 12 months, the air pollution problem across northern India has re-emerged this winter, and only worsened after the Diwali festival. The conversations, however, continue to be dominated by Delhi, and revolve around finding quick fixes, mostly pushed by courts, without looking at the deeper, underlying problems or addressing state capacity to deal with air pollution.

Coercive ‘Development’

The tribes, especially of mainland India, have lost their lands and livelihoods to development projects which have not brought them any benefits. In fact, they have been displaced without rehabilitation and adequate compensation.

IL&FS Was an Avoidable Crisis

The infrastructure Leasing and Financial Services Limited, a systemically important non-banking financial company, has defaulted on its debt repayments. This has created turmoil in the NBFC sector and in the financial markets. Many analysts allege serious malpractices and fraud at IL&FS. Whatever the truth of these allegations, the fundamental problem at IL&FS was that of illiquidity arising from the use of short-term funds to finance infrastructure. The failure to address illiquidity early enough has pushed the company towards bankruptcy.

Criminal Laws and Civil Rights

In the past few weeks, constitution benches of the Supreme Court have struck down Section 377 of the Indian Penal Code (IPC) ( Navtej Singh Johar and Ors v Union of India 2018) and Section 497 of the IPC ( Joseph Shine v Union of India 2018), partly upheld the Aadhaar (Targeted Delivery of...

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