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Best of BS Opinion: How to charge up India's economy, make EVs run

The government has added heft to its electric vehicles (EVs) policy by slashing GST on them and chargers

Pallav Nayak 

Electric car, electric vehicles

India's economy is slowing down despite a strong government and a reasonably favourable global situation. What can be done to get the economy up and running? Pallav Nayak sums up suggestions from our columnists.

Policymakers need to address a question: If the world economy is losing momentum despite a relatively accommodative policy environment, would more monetary stimulus help lift economic growth? Our first edit lists the pros and cons.

The government has added heft to its electric vehicles (EVs) policy by slashing GST on them and chargers. Two problems have to be solved before EVs pick gear in India: increasing charging networks and reducing the dependence on imports, says our second edit.

India's economy is doing poorly despite a favourable backdrop. There are three broad reasons for this: a collapse in corporate profitability, demand hitting a wall, and unexpected turns in government policy. The government will have to make India an easier place to do business for the economy to revive, writes Akash Prakash.

Airlines should know that passenger safety is non-negotiable. India's aviation regulator should hold the CEO or the face of an airline responsible if anything goes wrong on the safety front. Do that and you’ll have much more alacrity in the system, writes Anjuli Bhargava.

The increasing trend towards informal employment is worrisome. Contractual labourers can be fired without much ado and many companies pit them against regular employees to keep wage demand in check. Informal jobs are not good jobs, writes Mahesh Vyas.

The RBI is confident that inflation is well under control since it added Rs 70,000 crore to rupee liquidity. Therefore, argues Jaimini Bhagwati, the central bank should be in a position to reduce benchmark interest rates by, say, 50 basis points at its next rate-setting meeting.

QUOTE OF THE DAY

"The fundamental principle we must accept is that unlike in human beings whatever must die must die. Look at Air India, Rs 60,000 crore of people's money, your money, people's money eaten away and there are people who say that Air India should be salvaged." — BJP lawmaker KJ Alphons during a Parliament debate.

First Published: Tue, July 30 2019. 08:29 IST
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