Best of BS Opinion: A sustainable growth rate, mystery of 20% TCS, and more

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

The structural shift in the Indian economy from agriculture to services and manufacturing, the improvement in life expectancy and education plus the growing rate of investment and digitisation suggest that the potential for annual growth should have become at least 7 per cent—the threshold beyond which a country is assumed to have achieved rapid growth. But, as T N Ninan points out here, the International Monetary Fund’s chief economist has suggested that India’s potential for growth has reached near the limit of its capacity. Given the various constraints, including Covid,  some lowering of sights on the country’s sustainable rate of growth has to be accepted. But that makes the government’s job of raising the country’s capacity for generating growth and employment all the more critical.

In other views:

Devangshu Datta examines the illogic of the latest rule imposing 20 per cent TDS on credit card usage abroad, along with a ban on Indians keeping money for beyond six months in overseas bank accounts. Read it here

Atanu Biswas traces the evolution and influence of Sherlock Holmes, the world’s most famous literary detective, in modern entertainment culture. Read it here

Kumar Abishek explains how the power of the atom will be fuelling human-kind’s dream of becoming an extra-terrestrial species – first Lunar, then Martian, and so on. Read it here

QUOTE OF THE DAY

 

“Wanted a team of 11, not a team of one’”

 

Congress general secretary Randeep Singh Surjewala on choosing the Karnataka CM