Best of BS Opinion: The scourge of tax arrears, growth risks, and more

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

The Reserve Bank of India’s annual report released Tuesday confirms the prospect of shrinking GDP this fiscal and predicts that the fiscal constraints on the government will limit its contribution to expanding demand in the years ahead. So how can the Indian economy do well given these severe macro-economic constraints? The answer, says the top edit, is policy reform to enhance productivity and it lists the agenda here.

Other views examine the government’s plans for faceless tax appeals, Sebi’s demand for enhanced powers and the Kerala government’s objections to Adani Enterprises being awarded the Thiruvananthapuram airport. Kanika Datta sums up the views.

The idea of anonymised, faceless and online appeals system is brilliant, but the failure to resolve existing appeals has left some four fifths of the Centre’s annual direct tax collections blocked in arrears. The goal should be to reduce disputes, not increase them, says A K Bhattacharya. Read it here

The Securities and Exchange Board of India’s request to the government for powers to tap telephones is a case of regulatory over-reach. The stock market regulator has robust existing powers at its disposal to track fraud and criminal activity and it should use them, Somasekhar Sundaresan argues. Read it here

The Kerala government has no case against Adani Enterprises being awarded the Thiruvananthapuram airport but the controversy does highlight the lack of transparency and the poor design of the bidding process, the second edit points out. Read it here.

QUOTE OF THE DAY

‘The crisis presents opportunities and the shape of the future will depend on how well they are exploited’

Reserve Bank of India annual report