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

Articles By Equity

Impact of COVID-19 on the Indian Banking Sector

This article investigates the impact of COVID-19 on the banking sector through the trend analysis of return on assets and return on equity of the scheduled commercial banks. It covers both the pre- and post-lockdown periods. The results suggest that the governmental measures are helping ameliorate situations of bad quality loans and will improve future prospects of the banking industry.

Equity Stake of Government in Vodafone

Vodafone Idea, a key telecom player in India, risks closure thanks to its massive commercial debt and the substantial levies and penalties it owes to the government. Its exit would weaken competition and hurt exchequer revenues. The government has offered to accept equity in Vodafone Idea as part payment to mitigate this risk. With its existing equity in BSNL/MTNL, the government faces a serious confl ict of interest through ownership in competing companies. Merging these companies would help them and promote policy objectives better.

Diluting Environmental Regulations Under the Guise of Good Governance

In 2012, the Comptroller and Auditor General of India reported in Parliament that the government inefficiently allocated coal blocks and caused a loss of revenue to the tune of Rs 1.8 lakh crore. The period from 2010 to the national elections in 2014 was when “the allocation of natural resources to mainstream economic sectors, especially mining, was politicised like never before.” What did this process of politicisation involve? How was it different from before? In what ways has environmental regulation changed since 2014?  

Equity in Global Climate Policy and Implications for India’s Energy Future

The remaining carbon budget available to the world to limit global warming to 1.5 degrees celsius or to “well below 2°C” very small and is being rapidly depleted. The year 2021 has witnessed a flurry of pledges by countries to achieve net-zero emissions around the second half of this century. But the analysis shows the pledges of Annex-I parties to the United Nations Framework Convention on Climate Change to be highly inadequate to limit the temperature rise to below 1.5°C. In this context, this paper reviews India’s climate change mitigation efforts and policies over the last decade and assesses the recently declared net-zero emissions pledge against a range of illustrative emissions pathways and the implied cumulative emissions of these pathways. The ambition of India’s pledge is assessed, with a discussion of the challenges that lie ahead for India’s energy sector.

 

Narratives of Natural Resource Corruption and Environmental Regulatory Reforms in India

The shifting discourses on the purposes, objectives, and forms of India’s environment regulations are discussed within the broader domestic, political, and economic contexts. The environmental law reforms are being designed to legalise and protect financial investments in projects, irrespective of their environmental performance, and to monetise their impacts and damages.

 

Modernity and Democracy in India

Unresolved agrarian question, slow pace of industrial development and distorted economic growth of the service sector, have all led to the nature of economic development that is not symmetrical or equally poised with political democracy and rights. As long as capitalism in India remains backward to a large extent, in agriculture and industry, and as long as the distorted development continues, we will be stuck with the impasse of backward-looking nationalism and authoritarian populism. Current impasse is a product of achieving political modernity and a superstructure without its accompanying economic basis.

 

Majoritarian Rationale and Common Goals

Looking at existing policy instruments and goals, and the economic and social outcomes they promise to deliver, it is argued that majoritarian politics and social and cultural outcomes are not part of fringe thinking. The politics of hate actually works to build a consensus for ruling class economics. It is not surprising, therefore, that the only "nationalist outlook" of our times is to stand firmly behind the policy programme for the global investor.