Best of BS Opinion: Markets, policies, and progress in recent times

Here are the best of Business Standard's opinion pieces for today

Imagine you’re out for a morning run, pushing ahead, feeling unstoppable — until fatigue sets in. Your breath shortens, your pace falters, and soon, you slow to a walk, catching your breath, reassessing your stride. That’s what the recent months feel like. After years of racing ahead — market rallies, policy shifts, and geopolitical overhauls — the momentum appears to be fading, replaced by a deliberate, measured pace. Let’s dive in. 

Take India’s stock markets. The Nifty eked out an 8.8 per cent gain in rupee terms but only 6 per cent in dollar terms, ranking 24th globally. With the rupee dipping to Rs 86.6, FPIs offloading Rs 1.75 trillion, and corporate earnings dragging, the post-Covid investor euphoria is fading. On top of it, a crucial Budget looms — will it restore momentum or prolong the slowdown? Read our first editorial for more. 

Education, too, seems to be adjusting its stride. The 2024 ASER report offers hope — learning losses have reversed, enrolment is up, and digital literacy is rising. Yet, over half of Std V students still struggle with Std II-level reading. Our second editorial highlights that progress is evident, but the journey to quality education demands patience and persistence. 

Meanwhile, BRICS+ is treading carefully toward a cross-border payment system to reduce dollar reliance. While China’s RMB gains traction and India signs local currency MoUs, real obstacles remain — technological gaps, regulatory mismatches, and internal divisions. Amita Batra writes that instead of an outright challenge to the dollar, BRICS is carving out a parallel path — less a sprint, more a calculated detour. 

Even in arbitration, the Supreme Court’s ruling on unilateral appointments signals a shift from rushed agreements to fairer frameworks. M S Sahoo and S N Ananthasubramanian highlight that a strong arbitration system isn’t about speed — it’s about balance, transparency, and ensuring no party is left behind. 

And history reminds us why slowing down matters. In today’s review of Keshav Chandra’s When Turquoise Waters Turned Dark, Chintan Girish Modi reveals how the book unearths the colonial scars of the Andaman and Nicobar Islands — forced conversions, slavery, and the infamous Cellular Jail. Yet, it sidesteps present-day ecological and tribal concerns, proving that history, like progress, unfolds at its own pace. 

Stay tuned, and remember, progress unfolds at its own pace!