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A snapshot of the performance of Chhattisgarh, Jharkhand and Uttarakhand vis-a-vis their parent states - Madhya Pradesh, Bihar and Uttar Pradesh, respectively - and India as a whole, in the first 15 years of their existence as states:

How the new states fared in first 15 years

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The philanthropic activities of Ultra High Net Worth (UHNW) Individuals in 2015

Joy of giving

Three popular sports personalities - tennis player Sania Mirza, national badminton coach Pullela Gopichand and shooter Gagan Narang - were present at an event  to announce the launch of Supertech's housing project, Sports Village, in Greater Noida, on the outskirts of Delhi. The three looked bored during the proceedings, though Mirza was seen scribbling on her notepad now and then. So when someone from the audience posed a question to Narang well into the Q&A session, the shooter thanked the person profusely for singling him out for that query. All three are expected to open their academies on the project premises.

Dull moment

India should insist on reciprocity in its military cooperation with US

Foundation trilogy

While discussing the crucial Juvenile Justice (Care and Protection of Children) Bill, 2014, during the just-concluded winter session of Parliament, senior Bahujan Samaj Party leader Satish Chandra Mishra argued that moral science, which was part of the school curriculum but had been done away with in several schools, should be brought back. He urged a "social boycott" of adults who "messed (around)" with children and suggested that adults with "polluted minds" be sent to correctional homes. Mishra then cited the example of former army chief General V K Singh, now a minister of state (independent charge) in the Narendra Modi government, as someone who needed to be sent to a "sudhar griha". In November, Singh had triggered a political storm when he tried defending the central government over the murder of two Dalit children in Faridabad, by saying that it could not be blamed if somebody threw stones at a dog. Mishra's suggestions were followed by an uproar from the treasury benches.

Batting for moral science

Those who shy away from hard work seek government jobs, Rajasthan Chief Minister Vasundhara Raje said, as she urged young people in her state to opt for self-employment and entrepreneurship. "Nowhere in the world are people so charmed by government jobs as in India," she said, while addressing a batch of students at the Industrial Training Institute in her home constituency of Jhalawar in south Rajasthan. By opting for entrepreneurship one not only got employed but also provided livelihood to three to four other people, she said. "Only those who don't want to work opt for government jobs," she quipped.

Don't shun hard work

Developing a bond market should be among key policy priorities

Financial stability

With reference to the editorial, "Welcome step forward" (December 24), the National Democratic Alliance government introduced the Insolvency and Bankruptcy Code, 2015, in Parliament, aiming to bring in significant changes to an outdated and overburdened bankruptcy system by setting deadlines for the first time for processing insolvency cases.Yes, it was introduced in the form of a money bill, which might set an unhealthy precedent. But given that the Congress "misused" its majority in the Rajya Sabha to stall two sessions in a row  - first, the monsoon session and now, the winter session - many critical bills might not have been tabled at all. Hence the government sought to present the insolvency code as a money bill to bypass the Rajya Sabha.Current laws delay the liquidation or revival of companies - the process drags on for years without any substantial outcome. Against this backdrop, it is heartening to see this bill being tabled as it is expected to act as single bankruptcy code a

Letters: The end justifies the means

With reference to the editorial, "RBI must give clear guidance on rates" (December 23), the transmission of monetary policy and its influence on the rates of interest in the market seldom take place due to inherent and historical weaknesses in the banking system. This cannot be attributed to the Reserve Bank of India's perceived lack of clarity on policy rate guidance and communication to the banks on the need to transfer the benefits of rate cuts to borrowers.Price stability has always been the core objective of the RBI's monetary policy. Of late, this has been well articulated in the form of an inflation target among other things, and presented to banks to adhere to. While the need to reduce the interest rate and cost of funds is paramount to boost investment and growth, banks are not in a position to cut the interest rate due to some compulsions. These pertain to maintenance of high net interest margin of around three per cent - unheard of in advanced countries - and lack of profess

Letters: Not the RBI's fault

FMCG firms can use digital in three ways

The disruption in consumer goods due to digital will increase at an unprecedented speed. A study by the Confederation of Indian Industries and the Boston Consulting Group, titled "Re-imagining FMCG in India" talks about how companies can engage the digitally-connected consumer. Excerpts from the report :

Private equity (PE) entered a golden era from 2004 to 2007. With a growing economy, inflation in check, policy stability and businesses hungry for risk capital, PE entered a golden period at the turn of the century as fund managers invested between $500 million and $2 billion every year. They delivered in excess of 40 per cent gross returns from deals exited in 2004-06. Emboldened, a period of exuberance followed as investors raised record levels of capital and put over $42 billion to work in three short years. Returns fell precipitously and holding periods increased. A period of rationalisation followed as several first-time funds became inactive, with a proportionately larger number of experienced funds dominating the market. From 2012-15, the segment appears to be entering a period of resurgence, with more stable funding, investments and a more disciplined focus on exits. McKinsey provides an overview of Indian PE.

Of boom, bust and a budding recovery

Congress leader in the Lok Sabha, Mallikarjun Kharge, was overheard this week lamenting how his party had a tough time trying to stall the Lower House as Parliamentary Affairs Minister Venkaiah Naidu was present there all the time. Naidu, he said, seemed to have a spring attached to his seat so he could jump up to diffuse the tension every time Congressmen rose to protest. Kharge ended his tirade complaining that his colleagues in the Rajya Sabha were having an easier time.

Springing to action

Amid the raging fire over alleged financial irregularities in the Delhi and District Cricket Administration, Bharatiya Janata Party (BJP) MP Shatrughan Sinha, who has often taken a position at variance with that of his party, said "the party with a difference has become a party with differences". He advised Finance Minister Arun Jaitley to adhere to Prime Minister Narendra Modi's suggestion, follow BJP patriarch LK Advani's example and come clean. While Sinha was castigated by a partyman, look who came out in Jaitley's support - besides former Indian cricketers Sourav Ganguly and Virender Sehwag, the captain of the Indian Test cricket team, Virat Kohli, and his teammate Gautam Gambhir.

Friends and foes

At an event to mark the signing of a licence agreement between France-based Gaztransport & Technigaz and state-owned Cochin Shipyard for building liquefied natural gas (LNG) shipping vessels, Union Minister of Shipping Nitin Gadkari asked officials of Cochin Shipyard how much time it would take for them to build an LNG ship in India. Six years, said an official. The minister, who calls himself a "bulldozer", told the official that since the prime minister (Narendra Modi) had asked him to complete a certain project in half the scheduled time, would it be possible for Cochin Shipyard to cut the time window in a similar manner?

Deadline matters

Apropos A K Bhattacharya's lucid and logical article, "Black money and the PAN" (December 23), four points become clear.First, the Narendra Modi government has indeed followed up its election promise of chasing black money abroad, but obviously the promised figures were inflated - like most election propaganda is - and the reality is unlikely to be anywhere near that.Second, there is no change in the approach and attitude of our tax authorities: businessmen continue to consider them "overzealous", which is not a good sign. One would have expected Modi's pragmatism to rub off on the tax department also - as it has to some extent on the bureaucracy. Business leaders' desire to relocate abroad is not a positive consequence of the taxman's drive.Third, and perhaps most important, corrupt bureaucrats and politicians are responsible for the bulk of the black money in the country. The initiative of the Modi government to unearth black money must continue, irrespective of the Opposition's view

Letters: Focus on disclosure

The universalism of the new law is unhelpful

Rape and juvenile justice

A K Bhattacharya's piece, "Black money and the PAN" (December 23), is apt and contains deep insights into the black money issue. It brings out the merits of a time-tested methodology to proactively handle the issue through a framework of disclosure and cashless transactions.The point I wish to make is that the magnitude of the black money issue in our country is too large to let it remain unattended any longer. Even without going into the matter of whether the present government is delivering on its election promises, the issue has started to hamper India's international standing (be it Transparency International's rating or that of Standard & Poor's or other agencies) and its overall strong and positive image - largely the result of the prime minister's extensive expositions abroad. We need to match our image in the global arena with actions on the home turf.I fully subscribe to the writer's view of recommending incentives for credit purchase, coupled with the introduction of PAN

Letters: More action on home turf

Now that the Union Budget is a couple of months away, the annual ritual of calling for suggestions from various quarters will kick off. This includes advice from industrialists, economists, financial experts and trade unionists. However, as far as I can remember, since Independence not a single suggestion, no matter how practical, has been accepted by a finance minister, irrespective of his party affiliation. All recommendations are recorded and the matter is allowed to rest there. It would be better to give this fruitless exercise a decent burial when the next Finance Bill is tabled.Arun Malankar   MumbaiLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201E-mail: letters@bsmail.inAll letters must have a postal address and telephone number

Letters: Bury this fruitless ritual

But declaring Bankruptcy Code a Money Bill is problematic

Welcome step forward

Almost the entire Opposition 'force' made it to the release of a book on senior Janata Dal (United) leader Sharad Yadav's long political journey

Bonhomie time

Private sector infrastructure companies, which are in public-private partnerships for roads and other construction projects, are facing a unique problem

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