Best of BS Opinion: Rising forex reserves, economy's new normal, and more

Here's a selection of Business Standard opinion pieces for the day

The government’s vaunted production-inked incentive scheme in selected sectors is aimed at turning India into a manufacturing powerhouse. But as Shankar Acharya points out here, this scheme is fraught with the risk of a proliferating hydra-headed bureaucracy with all the problems of inefficiency, corruption and low productivity that accompanied the pre-1991 licence-permit raj. 

Other opinion focuses on the Indian economy’s future growth trajectory, our rising forex reserves and president-elect Joe Biden’s cabinet. Kanika Datta sums up the views.
 

With the second quarter GDP numbers due this week, Rajesh Kumar says an expected slower contraction or possibly a breakout will not end the problems of the Indian economy. Read his assessment here
 

India now has a problem of plenty with accumulated forex reserves of $100 billion since the start of the year. Though the central bank has done well in absorbing these excess flows, a more prudent policy is needed to ensure that India retains its export competitiveness, the lead edit argues. Read it here
 

Joe Biden’s cabinet picks give an image of assured competence, says the second edit. Read it here

QUOTE OF THE DAY

“This is not a third Obama term”

President-elect Joe Biden in an interview to NBC News