Best of BS Opinion: Discouraging history, clarity on macro policy & more

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

The government is set to put the exploration licences for 42 hydrocarbon blocks up for auction in the next round of its licencing process. In this context, our lead editorial notes that this would only work if the government’s rhetoric on attracting foreign investment into the sector is matched with a genuinely open attitude.  Read here

In other views:
 

The current global storms may turn into hurricanes. India’s economy is in a better position today both relative to other open economies and also due to its cleaner balance sheet, but it can’t escape global disruptions. Navigating this period of heightened volatility requires agility and clarity on policy priorities, writes economist Sonal Varma. Read here
 

The experience with backward-area investment incentives offers an example of the limits of addressing weaknesses in the business climate with compensatory policies, writes Kanika Datta. Read here
 

Quote of the day
 

“India is facing a mixture of factors that may shake its sovereign credit metrics. Amid external turbulence, its foreign exchange reserves are falling, and its current account deficit is rising. Meanwhile, the economy is battling faster inflation and tightening financial conditions both at home and globally.”
 

S&P Global Ratings Sovereign Analyst Andrew Wood