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In a follow-up to a previous discussion on the Starship, Ashwin and Swathi delve into the Next Generation Launch Vehicle (NGLV), a cutting-edge rocket recently green-lit by India's Union Cabinet, analysing its potential to revolutionise the country's space program. All Things Policy is a daily podcast on public policy brought to you by the Takshashila Institution, Bengaluru. The Takshashila Institution has designed the 'Technopolitik: A Technology Geopolitics Survey' to understand and assess what people think about how India should navigate high-tech geopolitics. Please take this 5-minute survey at the following link: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/technopolitik_survey⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Find out more on our research and other work here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://takshashila.org.in/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...⁠⁠⁠⁠⁠ Check out our public policy courses here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://school.takshashila.org.in⁠⁠⁠⁠⁠⁠

This is the Catchup on 3 Things by The Indian Express and I'm Flora Swain.Today is the 12th of December and here are the headlines.In a significant ruling on Thursday, the Supreme Court directed that civil courts cannot hear cases challenging the ownership and title of places of worship. This includes major disputes like the Gyanvapi mosque in Varanasi and the Krishna Janmabhoomi temple in Mathura. The court clarified that no new suits can be filed, and no interim or final orders, including surveys, will be allowed until further hearings. Several similar suits are pending in different locations across India.On Thursday, the Union Cabinet approved two crucial bills related to holding simultaneous elections for Lok Sabha and state assemblies. One bill proposes a constitutional amendment, while the other seeks to align assembly elections in Delhi, Puducherry, and Jammu & Kashmir. These bills are expected to be introduced in the current Parliament session. This development follows months of discussions after the Kovind-led committee's recommendations on simultaneous elections.Thursday saw chaos in both Houses of Parliament. The Lok Sabha was adjourned after BJP MP Nishikant Dubey raised allegations about Congress leader Sonia Gandhi's alleged ties to billionaire George Soros. Opposition MPs protested fiercely, even climbing the Speaker's dais. The Rajya Sabha was adjourned after a disruption over a motion by Congress MP Renuka Chowdhury, leading to further tension in the parliamentary proceedings for the day.Ahead of the Delhi Assembly elections, AAP leader Arvind Kejriwal announced that the Mahila Samman Rashi Scheme will increase the monthly allowance for women to Rs 2,100, up from Rs 1,000, if AAP is re-elected. The scheme, approved by Chief Minister Atishi's Cabinet, is aimed at supporting women's financial empowerment. The announcement is seen as part of the AAP's strategy to secure women's votes in the upcoming elections.In a clash between security forces and alleged Maoists in Chhattisgarh's Bastar region, seven Maoists were killed early Thursday. The encounter, which lasted over seven hours, took place in the dense jungles of Abujhmad, a heavily forested and un-surveyed area. The police are continuing search operations to confirm the number of casualties and recover weapons. The region has long been a hotspot for Maoist insurgents, making security operations challenging.This was the Catch Up on 3 Things by The Indian Express.

First, we talk to Indian Express' Damini Nath about the implementation of One Nation, One Election. She talks about the recommendations of the Ramnath Kovind committee and when and how will simultaneous polls be held in India now that the Union Cabinet has approved the committee's recommendations.Next, Indian Express' Nikhil Ghanekar informs us about a gas and oil exploration project that received it's first stage clearance for an exploration drilling in Assam's eco-sensitive zone. (8:33)And in the end, we talk about India's response to a media report on the diversion of defense exports to Ukraine. (17:33)Hosted, written and produced by Niharika NandaEdited and mixed by Suresh Pawar

As part of our ongoing collaboration with the Central Square Foundation - we're excited to bring to you the second part of this series where we will speak to experts in the field of EdTech to understand, how access to educational technology can transform overall learning in the classroom and at-home. In order to ensure learning outcomes for all children are met CSF has been working towards system-led reforms to ensure quality access to school education to children across India.The episode will be out tomorrow, the 21st September. The conversation will be available on our website indianexpress.com and everywhere you get your podcasts. Make sure you listen. To listen to the first episode, check out the link provided in the description.Now, on with the show.This is the Catchup on 3 Things by The Indian Express and I'm Ichha Sharma.Today is the 20th of September and here are the headlines of the week.Former Delhi chief minister Arvind Kejriwal resigned on Tuesday, paving way for Atishi to be the third woman CM of the national capital. CM-designate Atishi handed over the letter of support from the Aam Aadmi Party MLAs to L-G VK Saxena, staking claim to head the government. After party members chose her to lead the government, an emotional Atishi thanked Kejriwal for his trust in her, saying such opportunities are unique to AAP, where a first-time politician can rise to this level. She also reiterated the party's confidence in the outgoing chief minister, saying, quote “Delhi has only one CM and his name is Arvind Kejriwal.” unquote.The Union Cabinet has cleared the proposal to hold simultaneous elections in India, as recommended by a high-level committee headed by ex President Ram Nath Kovind. Addressing media persons, Union minister Ashwini Vaishnaw said simultaneous polls would be held in two phases. In the first phase, Lok Sabha elections and Assembly elections will be conducted simultaneously, while the second phase will cover local body elections, within 100 days of general elections. The Kovind committee had recommended that the government take a “one-time transitory measure”, which would require the Union government to identify an “appointed date” immediately after a Lok Sabha election. All state assemblies that go to poll after the said date would have their terms expire with the Parliament.As junior doctors' protests continue, decorators on Wednesday night were seen removing tents, bamboo sticks, and pedestal fans from the protest site in front of Swasthya Bhavan. Protestors now claim that “external pressure” is causing decorators, who had installed fans for them, to now take them down. A junior doctor exclaimed “It could be an effort to demoralise us,”, “but we would like to clearly say that for a protest, we don't need all this. We can protest from anywhere and in any possible way.” Junior doctors announced their decision to continue their protest and cease work after a six-hour meeting with government officials on Wednesday night.Choreographer Shaik Jani Basha, popularly known as Jani Master in the Telugu film industry, was arrested from Goa on Thursday days after he was accused of sexual assault by a junior choreographer who worked with him, An FIR was registered against him under rape charges on 16th of September in Hyderabad. A day later, sections of the POCSO Act were added to the case on the basis of claims that the complainant was a minor when he allegedly sexually assaulted her for the first time.On the global front, two months after former president and Republican presidential candidate Donald Trump was shot at in a rally, the FBI foiled what appeared to be a second assassination attempt on Sunday while Trump was golfing on his course in West Palm Beach, Florida. According to the Secret Service, agents spotted a person with a firearm near the golf club and immediately opened fire. CNN, Fox News and The New York Times have identified the suspect as Ryan Wesley Row-th of Hawaii, citing unnamed law enforcement officials.This was the Catch Up on 3 Things by The Indian Express

This is the Catchup on 3 Things by The Indian Express and I'm Flora Swain.Today is the 18th of September and here are the headlines.The Union Cabinet has cleared the proposal to hold simultaneous elections in India, as recommended by a high-level committee headed by ex President Ram Nath Kovind. Addressing media persons, Union minister Ashwini Vaishnaw said simultaneous polls would be held in two phases. In the first phase, Lok Sabha elections and Assembly elections will be conducted simultaneously, while the second phase will cover local body elections, within 100 days of general elections. The Kovind committee had recommended that the government take a “one-time transitory measure”, which would require the Union government to identify an “appointed date” immediately after a Lok Sabha election. All state assemblies that go to poll after the said date would have their terms expire with the Parliament.India has sent a formal notice to Pakistan seeking a review of the Indus Water Treaty, according to sources. India and Pakistan signed the IWT on September 19, 1960, after nine years of negotiations, with the World Bank being a signatory to the pact. It set out a mechanism for cooperation and information exchange between the two sides on the use of the waters of several cross-border rivers. Sources said the notice was issued to Pakistan on August 30 and the notification highlights fundamental and unforeseen changes in circumstances that require a reassessment of obligations under various articles of the treaty.Junior doctors in Kolkata today sought another meeting with the state government over their unfulfilled demands, including suspensions, security in hospitals, and the resignation of the state Health Secretary. After their last meeting on Tuesday, they sent a fresh letter to Chief Secretary Manoj Pant to request another. In a press conference last night, the West Bengal Junior Doctors' Front also announced that they will continue their cease work until “all demands are met”.Senior AAP leader Sanjay Singh announced today that the party's national convenor Arvind Kejriwal, who resigned as the Delhi chief minister, will “live among the common people” after vacating the official residence at Civil Lines in 15 days. Addressing a press conference, Singh said Kejriwal would also give up all other facilities such as security, car, driver, and staff. He, however, did not share where Kejriwal and his family would move after vacating the Civil Lines residence. As the head of a national political party, Kejriwal can avail of an accommodation provided by the government.A day after multiple pagers exploded across Lebanon and Syria, killing at least 12 people, officials stated that Israel had tampered with pagers imported to Lebanon. The company behind the pagers has said that while its brand was on the devices, they were manufactured by a Budapest-based company. According to a report in the New York Times, around 1 to 2 ounces of explosive material was implanted next to the battery in each pager. Officials said that a switch was also embedded that could be triggered remotely to detonate the explosives.This was the Catch Up on 3 Things by The Indian Express. 

Hello, this is your daily dose of news from Onmanorama. Tune in to get updated about the major news stories of the day.

First, Indian Express' Mallica Joshi  discusses why Delhi Chief Minister Arvind Kejriwal has chosen to resign at this moment and how this decision impacts the BJP's narrative against him.Next, Indian Express' Anonna Dutt explains the significance of the Union Cabinet's decision to expand the government's flagship health insurance scheme to include everyone over the age of 70, regardless of income level (11:36).Finally, in light of the government renaming Port Blair to Sri Vijaya Puram, Indian Express' Vikas Pathak talks about the broader political implications of renaming states and cities (21:08).Hosted, written and produced by Shashank BhargavaEdited and mixed by Suresh Pawar

This is the Catchup on 3 Things by The Indian Express and I'm Ichha Sharma.Today is the 12th of September and here are the headlines.The Union Cabinet is expanding the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana to provide health coverage to people aged 70 years and above, regardless of their income level. Currently, the scheme is income-based and provides 5 lakh rupees shared annual coverage to all members of eligible families irrespective of their age. According to a government statement, an additional 6 crore people in this age group, from 4.5 crore families, are expected to benefit. The eligible beneficiaries will be issued a new card under PM-Jan Arogya Yojana.Two young Army officers were assaulted and one of their two women friends was allegedly gangraped by a group of six men who attacked them in the early hours of Wednesday near Jam Gate along the Mahow-Mand lesh war Road in Madhya Pradesh. Police said two of the six assailants had been arrested and a search is underway for the others. DIG Nimish Agrawal said the two officers from the Mhow cantonment town had gone out on a night trip and were sitting in a car with their friends when six men showed up, surrounded and assaulted them.The Supreme Court will deliver its verdict on pleas filed by Chief Minister Arvind Kejriwal seeking bail on Friday. The plea also challenges the Delhi High Court order upholding Kejriwal's arrest by the CBI in a corruption case in relation to the alleged excise policy scam. Opposing the plea, the CBI had told the Supreme Court that witnesses from Goa, including those who contested the Assembly elections on an Aam Aadmi Party ticket, would turn hostile if Kejriwal walked out of jail. Kejriwal has filed two separate petitions challenging the denial of bail and against his arrest by the CBI in the case. A year after multiple IPS officers were sent to Manipur by different states/Union Territories to head their Special Investigation Teams to investigate the violence cases, three states, Punjab, Haryana, and Madhya Pradesh have called back their officers and sent their replacements. The Indian Express has learnt that a discussion to send them back to their kaa druh started when some of the IPS officers who came on Supreintendent of Police rank got promoted to deputy inspector general (DIG) in January and requested their police chiefs to call them back.Amid stalemate between West Bengal government and protesting doctors, state chief secretary sent a fresh letter to the agitators calling for a meeting at 5 pm today. On Wednesday, the government rejected the agitators' demand to live broadcast talks intended to resolve the month-long “ceasework”. Meanwhile, the Supreme Court's direction to doctors to resume work remains in place. In addition, sleuths of the Enforcement Directorate today started search operations at the residences and offices of persons “close” to arrested former principal of RG Kar hospital, Sandip Ghosh, in connection with alleged financial irregularities at the medical establishment.This was the Catch Up on 3 Things by The Indian Express

Recently, the Union Cabinet approved a programme to develop 12 new industrial cities with an investment of ₹28,602 crore. The goal is to boost manufacturing in India. In this episode, Rijesh Panicker and Sarthak Pradhan discuss the proposal and analyse its potential and shortcomings. All Things Policy is a daily podcast on public policy brought to you by the Takshashila Institution, Bengaluru. Find out more on our research and other work here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://takshashila.org.in/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Apply for our course on Life Science Policy in India here: https://school.takshashila.org.in/ecc-life-science-policy Check out our public policy courses here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://school.takshashila.org.in⁠

This is the Catch Up on 3 Things for the Indian Express and I'm Flora Swain.It's the 1st of March and here are the top stories of the week.The week began with the Rajya Sabha election show on Tuesday. Cross-voting by Congress and SP MLAs took centrestage which resulted in BJP victories and dramatic upsets for Congress and SP in Uttar Pradesh and Himachal Pradesh. It was followed by the Congress government in Himachal Pradesh facing a risk of collapse after six of its MLAs voted in favour of the BJP candidate in the Rajya Sabha polls in Himachal Pradesh.The Trinamool Congress has decided to suspend for six years its party leader Shahjahan Sheikh, the main accused in the Sandeshkhali land-grab and sexual assault allegations. The TMC strongman in Sandeshkhali had been on the run for the last 55 days, and was arrested by the West Bengal Police early on Thursday. Following his court appearance, the TMC leader was brought to the CID headquarters at Bhavani Bhawan in Kolkata. According to sources, the case is likely to be handed over to the CID.Prime Minister Narendra Modi on Tuesday announced Group Captain Prasanth Balakrishnan Nair, Group Captain Ajit Krishnan, Group Captain Angad Pratap, and Wing Commander Shubhanshu Shukla as India's astronauts-designate for Gaganyaan, India's first crewed space mission. All four Indian Air Force officers have had extensive experience as test pilots and are currently in training for the mission. Modi, who bestowed them with the prestigious astronaut wings, described them as “four forces” who represent the aspirations and optimism of 1.4 billion Indians.Days after stating that the government was “actively pursuing” cases of Indians seeking discharge from the Russian Army, the Ministry of External Affairs on Thursday said 20-odd people are stranded in the country. Asserting that the government was trying its level best for their early discharge, MEA spokesperson Randhir Jaiswal said Indians in Russia have been advised not to venture into the war zone or get caught into situations which are difficult.The Union Cabinet on Thursday approved three chip-related projects worth around Rs 1.26 lakh crore, including what could be India's first semiconductor fabrication plant. The Tata Group will set up the foundry in partnership with Taiwan based Powerchip (PSMC) at an estimated cost of Rs 91,000 crore in Gujarat. The plant will have a capacity to produce 300 crore chips every year, which will cater to industries like high-performance computing, electric vehicles, defence, and consumer electronics, among other things.This was the Catch-Up on the 3 Things by The Indian Express.

The Union Cabinet recently approved National Research Foundation Bill, 2015 for introduction. In this episode, Saurabh Todi and Shambhavi Naik discuss the proposed Bill, its drawbacks, and potential areas of improvement. Reading: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1935895 Do follow IVM Podcasts on social media. We are @‌IVMPodcasts on Facebook, Twitter, & Instagram. https://twitter.com/IVMPodcasts https://www.instagram.com/ivmpodcasts/?hl=en https://www.facebook.com/ivmpodcasts/ You can check out our website at https://shows.ivmpodcasts.com/featured Follow the show across platforms: Spotify, Google Podcasts, Apple Podcasts, JioSaavn, Gaana, Amazon Music Do share the word with your folks!See omnystudio.com/listener for privacy information.

Are you sure that your personal information, like the details of Aadhaar and PAN cards are not in the wrong hands? And are you sure that they will never be misused? Until now, such safety was hard to guarantee. But an attempt is being made to address this, and much more. The government is planning to regulate the processing of personal information through a law. The Digital Personal Data Protection Bill got the Union Cabinet's nod last week, and it is likely to be tabled in the upcoming Parliament session. So how different this draft is from the earlier one? And what are the major hits and misses?  Twitter too had a brush with hackers early this year. Email addresses of over 235 million Twitter users were put in public by an online hacking forum. That was about six months ago. Twitter is now facing another big challenge. It has a new rival, and this time it comes from the stable of mighty Meta. Threads was launched in 100 countries last week. And 10 million people joined it within the first seven hours of the launch. So is Threads the real threat to Twitter?  Back home, India Inc. will begin the June quarter earnings season from Wednesday, 12th of July. The Street expects most sectors to report an in-line set of earnings, thanks to easing commodity costs and overall improvement in macros. The weak demand environment, however, is likely to keep the overall numbers in check. Find out the likely winners and laggards of the June quarter. Let us turn our gaze to Mint Street now. The RBI's inter-departmental group last week said that the Indian rupee has the potential to become an “internationalised” currency. This comes at a time when several countries are scrambling to find an alternative to the US dollar in international transactions in the light of sanctions on Russia for the war in Ukraine. But what does the “internationalisation” of the rupee mean? Listen to this episode of the podcast to know. 

Cyberpolitik: AI and Crime Prevention: Is it a force multiplier?— Satya SahuCrime prevention is based on the idea that crime can be reduced or eliminated by modifying the factors that influence its occurrence or consequences. We can classify “prevention” into three main types: primary, secondary, and tertiary. Primary prevention addresses the root causes of crime or deters potential offenders before they commit a crime. Secondary prevention aims to intervene with at-risk groups or individuals to prevent them from becoming involved in crime. Finally, tertiary prevention efforts seek to rehabilitate or punish offenders to prevent them from reoffending. (This, however, is beyond the scope of today's discussion.)Flipping the coin, we notice that policing is based on the idea that law enforcement and public order can be maintained by enforcing the law and responding to crimes or incidents. Policing also lends itself to being classified into two main types: reactive and proactive. Reactive policing responds to reported crimes or incidents after they occur. Proactive policing anticipates or prevents crimes or incidents before they occur. On the face of it, AI can help us prevent and fight crime by enhancing both types of crime prevention and policing.AI can digest and analyse petabytes of data from disparate sources, such as social media, CCTV footage, sensors used in our Smart Cities™, and boring old digitised government records, to identify patterns, trends, and anomalies that can indicate potential criminal activity. For example, the police in Vancouver use predictive models to identify areas where robberies are expected to occur and then post officers to deter potential thieves or other criminals. Similarly, the police in Los Angeles use a system called PredPol that generates maps of hotspots where crimes are likely to happen based on past data. These systems can help the police allocate their resources more efficiently and effectively and reduce crime rates and response times.When it comes to collecting and processing evidence, such as fingerprints, DNA, facial recognition, voice recognition, and digital forensics etc., we can look at the UK Home Office's VALCRI, which uses AI to analyse large volumes of data from different sources, such as crime reports, witness statements, CCTV footage, and social media posts, to generate hypotheses and leads for investigators. For example, the police in India used ML-backed facial recognition technology to reunite thousands of missing children with their families. Moreover, AI can help the police in presenting evidence and arguments in court, such as using natural language processing to generate concise summaries or transcripts of testimonies or documents.It could augment efforts to monitor and evaluate police performance and conduct, such as using dashcams, bodycams, or drones to record their interactions with the public and/or suspects. For example, the police in New Orleans developed a program called EPIC that uses AI to analyse video footage from bodycams to identify instances of misconduct or excessive force by officers. It can also help the police in engaging with the public and building trust and confidence, such as using chatbots or social media platforms to communicate with citizens and provide critical information services, hopefully unlike the chatbot from my bank's beleaguered website.However, all this has enormous implications for the jurisprudential underpinnings of crime prevention and policing. One such significance arises when AI itself can change the nature and scope of crime and criminality. AI can enable new forms of crime that exploit its capabilities and vulnerabilities, such as cyberattacks, biometric spoofing, deepfakes, autonomous weapons, or social engineering. Unlike their current-crime counterparts, leveraging AI allows these future crimes to be more sophisticated, scalable and anonymous than conventional ones. Therefore, the legal and ethical frameworks that govern our efforts to control such crimes must, therefore, must evolve to address these new crimes. It is a foregone conclusion that without involving AI at the forefront of these efforts, it will be impossible to counter AI-enabled crimes themselves. Hence the concomitant need to update the legal and ethical norms guiding society's conceptions of policing and crime prevention.Yet another implication is that AI also transforms the roles and responsibilities of police officers and other actors involved in crime prevention or response. As the examples show, AI can augment or automate some of the tasks that police officers perform, such as data collection, analysis, or evidence processing. AI can also assist or replace some of the decisions that police officers make, such as risk assessment, resource allocation, or intervention selection. To ensure that the concerns of effectiveness and responsibility surrounding Mx. Robo-Cop are adequately balanced, clear and consistent standards and regulations for police and state actors must be established side-by-side with the development and deployment of such systems. This is not to say that we need to disavow the use of AI in the field of policing and crime prevention. The potential and limitations of AI and the skills and knowledge to use it effectively and responsibly make it so versatile and terrifying. However, it is still a tool to be wielded by the legitimate wielder of the state's punitive power: the police.The use of AI in identifying young people who are vulnerable to gang exploitation or violence and mounting efforts to prevent them from becoming involved in crime is already a burning question in the UK. This recognises that leveraging AI to provide better targeted and tailored state support and services to at-risk groups or individuals, is valuable. On the face of it, any enhancements to their state's performance, efficiency, and accountability in this regard will be applauded. But given what we know about the pitfalls surrounding AI, the opposite also holds: violating the privacy, dignity, or rights of individuals or communities will reduce the trust and legitimacy that is essential for state actors and the police to be able to police under the social contract.Referring back to my previous post here, we know that AI can create or exacerbate the digital divide or systemic social inequalities among different groups or individuals. The conversation about the use of AI in a field where the slightest deviation from the limited scope of policing is undesirable must discuss the processes involved as well as the outcomes exacted upon the population being policed. This indicates the need to ensure that AI is used in a way that respects and protects the interests and values of individuals or communities. AI is a powerful tool that can help us understand the causes of, prevent, and reduce crime. Still, it is not a substitute for human judgment or responsibility. It is not merely a technology but also a socio-cultural phenomenon to be embraced with a healthy mixture of curiosity and caution. (I use the term ‘AI' to include machine learning, Neural Language Processing, etc., here for brevity.)Matsyanyaaya: Why a local Indian rickshaw app should worry Big Tech— Shailesh ChitnisDigital platforms, such as Google and Facebook for advertising and Amazon for e-commerce, derive their power by bringing sellers and buyers together in one place. Over time, "network effects" ensure that these platforms achieve monopoly power in the market. Regulators have tried different methods to limit the reach of these platforms. The European Union prefers a rule-based approach to reining in these companies, while the United States M+A policy is focused on preventing market concentration.Neither has worked particularly well. Namma Yatri, a small ride-hailing app in Bangalore, may point in another direction. Since its launch last November, the app lists almost a third of the city's 150,000-odd rickshaw drivers on its network and routes 40% of all rickshaw rides. It is now a viable competitor to Ola and Uber, the dominant apps.Namma Yatri is unique in that it is entirely funded and run by the community. The app is based on the open-source platform Open Network for Digital Commerce (ONDC), which is a non-profit supported by the Indian government. A private company, Juspay Technologies create the app, and there is no commission fee.ONDC's concept is to create a common platform where buyers and sellers can easily transact. This is essentially a technological solution that deconstructs a marketplace (see figure below). By abstracting the platform from supply and demand, ONDC seeks to remove some of the barriers of large digital platforms.ONDC's approach is not unique. Last week, Bluesky, a new social media platform backed by Twitter's founder Jack Dorsey, started inviting users to its Twitter-like platform. What makes it different is that the social network is built on a decentralized system. This would allow, in theory, users from multiple social networks, each with its own systems of curation and moderation to interact.A technology-driven solution that unbundles a marketplace into different pieces may spur more competition. And given India's success with pushing large-scale digital infrastructure projects, entrenched platforms should pay attention.Though it's early days for these platforms, there are a few questions, particularly around their business model.- Can a community-supported model work for India when our open-source culture isn't that well-developed?- If private companies are developing and maintaining applications on the platform, what are the monetization models?But perhaps, the most important question is about government intervention. With ONDC, if the government actively participates in defining the protocol and in advocating its use, does that influence innovation and natural market evolution?Antariksh Matters: Challenges for the Indian private space sector— Pranav R SatyanathThe approval of the new space policy by the Union Cabinet ushers in a new era for the space sector in India. The long-awaited reform, reflected in an 11-page document, details the activities that the commercial space sector can undertake and delineates the roles of three key government agencies: Indian National Space Promotion & Authorisation Centre (IN-SPACe), Indian Space Research Organisation (ISRO), and the Department of Space (DoS). We have covered the merits and shortcomings of the policy in a Takshashila blog. The enthusiasm for the growth of the private space sector is indeed merited, as private entities were largely denied these opportunities in the past. However, there also exists a host of challenges that the Indian private space sector will face in the future. Some of these challenges are rooted in the historical evolution of the space sector in India, while others are created by the structure of market competition in the space sector. To understand the challenges, we must first briefly analyse how the private space sector has evolved to its present state in India.Evolution of India's private space sectorPrivate sector participation in India's space sector has historically been sparse. This was because space activities were the state's monopoly for several decades, and ISRO had achieved several feats, such as developing indigenous launch vehicles with limited resources. Indeed, since space was a high-risk and relatively low-reward sector, private entities stayed away from undertaking entire space projects and instead played the role of contractors and subcontractors for manufacturing satellite and launch vehicle components.Given ISRO's monopoly over space activities, a regulatory mechanism to oversee national space activities was seen as unnecessary, even after commercial space activities became a viable undertaking for the private sector. ISRO became the de-facto regulator for the private sector as it was the only route through which the private sector could participate in space activities. The absence of a set regulatory framework, therefore, disincentivised major private sector participation.This affected the evolution of the private sector in three ways. First, due to the large capital required to establish  manufacturing facilities for the space sector, the task of taking the role of suppliers fell on the traditional heavy industries who had large resources at their disposal. Second, since the industries largely followed ISRO's guidelines on design and manufacturing, they had very little incentives to innovate on their own. Finally, an ancillary support industry or the space sector did not flourish as ISRO imported or manufactured key components in-horse. Put together, these factors would go on to place several structural constraints on India's private space sector.     The challenges for India's private space sectorWith clarity on the regulatory framework, the private space sector is free to pursue activities in both the Upstream sector (which includes satellite manufacturing and launch services) and the Downstream sector (Ground Segment and satellite services). However, the industry must overcome several hurdles before achieving a high degree of competitiveness. This essay focuses on two challenges that are discussed less frequently.Support from the governmentThe miniaturisation of satellites has given rise to a new market for satellite service providers, which has, in turn, spurred the demand for launch vehicles. Despite the boom in demand, the private space sector continues to rely on significant government funding to stay in business. For the NewSpace industry, support from the government comes in the form of purchasing services or directly funding the research and development of new technologies. Consider the example of the launch industry in the United States. Traditionally the National Aeronautic and Space Administration (NASA) and the U.S. Air Force (USAF) purchased services from the established space and missile industry through a cost-plus arrangement. The rise of the private space launch market introduced a new fixed-cost model, where NASA and USAF paid for launches on a need basis. Furthermore, NASA has taken significant steps to involve the private industry in human spaceflight, as the national space agency has shaped itself to undertake high-risk exploration missions. The military sector has also taken major steps to integrate the private industry into the procurement ecosystem, making the government a major source of funding for the private space sector.Such a model of government funding does not exist in India. According to the new space policy, NewSpace India Limited (NSIL), an entity under the DoS, will take responsibility for operating launch vehicles developed by ISRO. Further, ISRO has also stated that it will develop a new reusable launch vehicle to replace the PSLV. There is no indication that either the DOS or the armed forces will fund private launch providers for launch services or develop new launchers.Due to the long absence of a commercial space policy, India's private space industry is in its nascent stages. As the industry matures, it will face stiff competition from well-established international players. In this regard, the Union government must be cognizant of the fact that international competitors have some level of backing from foreign governments, which skews their advantage in the international market. Access to key technologiesThe second major challenge to Indian companies arises from the lack of a robust supply ecosystem in India. As mentioned earlier, the evolution of India's space sector led to a condition where a supporting industry for the space sector had limited incentives to flourish into its full potential. Decades later, a new generation of space entrepreneurs began to rely on foreign suppliers for key components and technologies as they could not find equivalent suppliers domestically. The lack of a domestic space ecosystem has led several space entrepreneurs to shift their establishments to foreign countries, where access to technology, talent and support systems was easier.Indeed, the NewSpace ecosystem will eventually gain competence as the domestic industry begins to mature and the demand for domestically-manufactured sensors, optics, testing equipment and software increases. During the transition period, however, space startups will continue to rely on foreign suppliers. The process of procuring foreign components is often a roadblock due to the export control regime on dual-use technologies.Charging forwardWhile the new policy achieves high marks in several key areas, the transformation of India's space sector is far from complete. To achieve the vision of augmenting India's capabilities through the commercial space sector, India needs a  National Space Strategy which charts a clear path forward for both civilian and military activities. Such a strategy must lay down the objectives for India's space programme and seamlessly incorporate the interests of the commercial space sector into the national strategy.Our Reading Menu[Book] Traffic: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral by Ben Smith[Report] Mapping Biosafety Level-3 Laboratories by Publications by Caroline Schuerger, Sara Abdulla and Anna Puglisi[Op-ed] CPC's tryst with private regulatory interventionism by Anushka Saxena[Podcast] Indian Space Policy - 2023 with Aditya Ramanathan and Narayan Prasad This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit hightechir.substack.com

The much-awaited Indian Space Policy 2023 was unveiled recently after the Union Cabinet approved it in early April. The policy seeks to provide regulatory certainty to India's fledgling private space sector. In this episode, Pranav R Satyanath and Shrikrishna Upadhyaya discuss the aims, objectives, and limitations of the policy, the major hits and misses of the policy, and other anticipated developments like FDI in the space sector. Readings: Takshashila Blogs - Assessing the New Space Policy 2023 Indian Space Policy - 2023 Check out Takshashila's courses: https://school.takshashila.org.in/ Do follow IVM Podcasts on social media. We are @IVMPodcasts on Facebook, Twitter, & Instagram. https://twitter.com/IVMPodcasts https://www.instagram.com/ivmpodcasts/?hl=en https://www.facebook.com/ivmpodcasts/ You can check out our website at https://shows.ivmpodcasts.com/featured Follow the show across platforms: Spotify, Google Podcasts, Apple Podcasts, JioSaavn, Gaana, Amazon Music Do share the word with your folks!  See omnystudio.com/listener for privacy information.

First, Indian Express' Sukrita Baruah talks about how CUET affected the Delhi University admissions this year, and why it was implemented in the first place.Next, Indian Express' Divya A tells us about the new guidelines that the Union Cabinet has issued television channels in India. (11:11)And in the end, Indian Express' Sohini Ghosh explains why a BJP candidate in Gujarat is under the spotlight right now. (16:53)Hosted by Rahel PhiliposeScripted and produced by Shashank BhargavaEdited and mixed by Suresh Pawar

Antariksh Matters #1: Small Launchers and Small Windows of Opportunity— Pranav R SatyanathThe small satellite launch vehicle market has a new player - Firefly Aerospace. The US-based private company on Saturday (October 1st 2022) conducted the first successful launch of its rocket Firefly Alpha. The company attempted a launch in September 2021, which failed to get to orbit. Today, Firefly is one of only four private NewSpace companies in the world which provide dedicated small-satellite launch service. The other three being Rocket Lab, Virgin Orbit and Astra (the last of the three companies is an interesting case).Firefly's Alpha launch vehicle can carry a payload of just over 1 ton to low-Earth orbit (LEO) and 750 kilograms to Sun Synchronous Orbit (SSO). This puts Alpha  in the same category as the Polar  Satellite Launch Vehicle (PSLV), which is the workhorse of the Indian Space Research Organisation (ISRO).  The Alpha launch vehicle is powered by four liquid-fuelled turbopump engines that use RP-1 (highly refined kerosene) and liquid oxygen (LOx). The second stage is powered by a single liquid-fuelled RP-1/LOx engine optimised for vacuum.The company is one of the few success stories in the highly competitive launch market, and success did not come easy. Firefly was founded as Firefly Space Systems in 2014,but the company went bankrupt and liquidated in 2017 and its assets were purchased by Ukrainian venture capitalist (also a tech entrepreneur) Max Polyakov and his company, Noosphere Ventures. Unfortunately, Polykov could only stand at a distance and watch Firefly's success as he was forced to sell his shares after Russia's invasion of Ukraine. A tough time for small launch companiesNot all companies witness success by the likes of Firefly. In December 2019, Vector Launch filed for bankruptcy before it could attempt a full orbital launch of its Vector-R rocket. The company has undergone restructuring and is preparing to begin suborbital flight tests. Another US-based company, Astra, has been attempting to launch its rocket into orbit since 2020, with very little success, leaving the company to abandon its Rocket 3.3 and move to a new design called Rocket 4 instead. Oher companies in the USIndia's own attempt to launch the Small Satellite Launch Vehicle (SSLV) failed to place its payloads in orbit after a malfunction in its sensors. The SSLV is operated by ISRO's newly- established commercial arm called NewSpace India Limited (NSIL). SSLV, unlike other launch vehicles, uses solid fuel in the first three stages. The final stage is a liquid-fuelled velocity trimming module. SSLV is India's attempt to enter the small satellite launch market, offering a launch-on-demand service to carry upto 500 kg to LEO or 300 kg to sun synchronous orbit.Several other launch companies around the world are preparing to tap into the growing small satellite market. Yet, it is unclear how many of these companies will survive in the coming years. More importantly, it is unclear whether these private entities have overestimated the market for small satellites, as a drop in demand puts at risk the sustainability of these companies.Small launch vehicles for IndiaIndian private launch companies are not far behind the world competitors. Two companies in particular, Agnikul and Skyroot, have risen to the occasion in their attempt to fulfil India's satellite launch demands. As an aspiring space power, India can not compete in the global space market by making an average of five launches a year. It requires dozens of launches (along with many many more satellites) to stay competitive on both commercial and national security grounds. India's forthcoming new space policy (long overdue and still nowhere in sight) must make it conducive for private launch providers to operate and thrive. ISRO, meanwhile, must focus its efforts on improving the reliability of its GSLV series of heavy-lift rockets and allow privateers to cater to the small satellite market needs.Siliconpolitik: India's Semiconductor Policies v2.0— Pranay KotasthaneEarlier this week, the Union Cabinet approved modifications to three of the four schemes introduced in December 2021 for developing a domestic semiconductor ecosystem. Several news websites have claimed that with the government “sweetening the deal”, investments in this sector will be more forthcoming. I agree, but not without some fundamental reservations. Here's why.Semiconductor FabsTo attract chip manufacturing companies, the original programme promised up to 50% upfront financial support for leading-edge nodes (28 nanometres and below). The promised fiscal support for trailing-edge nodes employing older technologies dropped commensurately, going down to 30% for a fab that produces chips at the 45-65 nanometre nodes. (The node size is a rough measure for the size of a building block in a chip. The smaller that number, the more building blocks that can be packed in the same area resulting in higher performance).Under the new scheme, the government promises upfront fiscal support of 50% for all node sizes. The change reflects two realities. First, trailing-edge fabs are crucial for India. The demand for older node sizes will not disappear anytime soon. Future applications such as 5G radios and electric vehicles will continue to require manufacturing at these nodes. Most current defence applications also require trailing-edge chips.Second, many countries are wooing the leading-edge node foundries with much larger incentive packages. Companies such as TSMC are being courted by all major powers, and it's unlikely they will pick India for the most-advanced nodes. India's chances are better for securing older technologies.Display FabsMost display panel manufacturers are located in East Asia — companies from China, Taiwan, South Korea, and Japan dominate this industry. The scheme was designed with the explicit aim of import substitution. The original scheme promised up to 50% upfront financial support subject to a cap of ₹12,000 crores. As part of the changes, this upper cap has been struck off.To me, this scheme didn't make sense even when it was announced. I have four reasons for the scepticism.* Even during the high peak of supply chain disruptions during COVID-19, there was no shortage of display panels, indicating that there are no constraints to increasing production, as is the case for chips. (The only shortage related to displays was for the driver chip, not the panels by themselves).* Apart from China and Taiwan, South Korea and Japan have leadership in specific segments of displays. So we aren't dependent on one vulnerable source, as in the case of chips.* Import dependence on China won't go away. Even if these fabs manufacture displays in India, the input materials will have to be imported from elsewhere. So the bottlenecks will shift but don't disappear.* The industry is moving to newer technologies apart from LCDs and AMOLEDs. Samsung is focusing on Quantum-dot displays instead of LCDs. The scheme might be able to get old-tech here, but for newer technologies, imports might continue.Thus, to spend ₹12000 crores for a product in the pursuit of a failed notion of import substitution doesn't justify the opportunity costs. Moreover, removing the upper cap after Vedanta-Foxconn got into this game raises concerns about rent-seeking — the tendency of businesses to distort policies to serve their own interests.Assembly, Test, Packaging Units, and Specialised Low-volume FabsFor assembly, test and packaging firms, & compound fabs, the promised financial support has increased substantially, from 30% to 50%. More importantly, the original scheme allowed disbursal once a facility had begun production. Under the modified scheme, the financial support will be upfront. Prepaid, not postpaid.These changes again warrant scrutiny. Is it another case of rent-seeking?At the margin, I am okay with the changes in this segment. India has a potential advantage because of the need for a large, mid-level trained workforce for this segment of the supply chain, in comparison to conventional semiconductor fabs.Semiconductor DesignSurprisingly, there were no modifications in the one area where India does have a comparative advantage - semiconductor design and design services. The capital requirement for this segment is at least two orders of magnitude lower than the first three segments. And yet, the response to the scheme for encouraging design firms seems less than lukewarm. We propose two changes in the policy for that segment in an article for Hindustan Times earlier this month:* To receive deployment-linked incentives under the current scheme, a design firm has to be registered in India with a 50% local stake. That clause could be watered down. Companies should qualify as long as the workforce is majorly Indian and the development happens here.* Reducing tariff and non-tariff barriers are also crucial for India's semiconductor design companies to increase operations in India.On both these counts, the status quo prevails.To summarise, the modifications reflect the government's seriousness in attracting investment in this sector. Through these changes, the government is acknowledging that India must start its chip manufacturing journey at the lower end and climb its way up. Getting good at this game takes a couple of decades. At the same time, a thin line separates responsive government policies from regulatory capture by businesses. All industrial policies run this risk, and we need to be vigilant.Antariksh Matters #2: Planetary Defence and National Defence— Aditya RamanathanOn September 26, NASA concluded what it called “the world's first planetary defense technology demonstration” in a spectacular collision. Ten months after it was first launched, NASA's 570 kilogram Double Asteroid Redirection Test (DART) spacecraft smashed into the asteroid Dimorphos. The collision occurred 11 million kilometres from Earth. Dimporphos is technically a 160 metre-long ‘asteroid moonlet' - called so because it orbits a larger asteroid named Didymos. While neither rock is headed towards Earth, the DART mission sought to establish the ability to deflect an asteroid from its trajectory.   The DART spacecraft was launched in November 2021 from a SpaceX Falcon 9 rocket and Johns Hopkins Advanced Propulsion Laboratory (JHUAPL) managed the mission. The apparent success of DART is likely to prompt more ‘planetary defence' missions. According to the latest decadal survey published by the US-based National Academies, NASA's annual budget for planetary defence is more than $160 million. NASA has tracked about 27,000 near Earth objects (NEOs) using this funding. Yet this is barely enough to track naturally occurring threats from space. In particular, NEOs that are between 30-140 metres in size and typically collide with the Earth once every century, can be hard to detect. One such celestial body was responsible for the 1908 Tunguska event. Ambitious Proposals, Enduring SuspicionsWhile the DART mission was a kinetic collision, such interventions may not suffice for every contingency. While no civilisation-killing NEOs are likely to be headed Earth's way anytime soon, smaller NEOs that can still result in catastrophes may be detected too late for deflection. Also, kinetic collisions may risk creating fragments large enough to survive reentry and cause damage on Earth. The most common proposal for dealing with such contingencies is using explosive nuclear devices. One scientific study from 2021 concluded that such devices were likely to be useful in destroying major NEOs headed towards Earth. While it may be prudent to seriously examine the options available, NASA's planetary defence project is not without political implications. Any spacefaring capability that can destroy through kinetic collision, or worse yet, nuclear explosives, has obvious military implications. This is especially so because, as we have argued, space warfare is still primitive in character, depending on dual-use capabilities rather than specialised weapons or platforms. While the military applications of DART-like missions are unclear and fantastical at the moment, states are not known to take chances on such matters. For reasons of both survival and prestige, America's rivals may initiate their own planetary defence programmes in the near future. Our Reading Menu[Book] A History of Near-Earth Objects Research by Erik M. Conway, Donald K. Yeomans, and Meg Rosenburg[Report] Forecasting th A History of Near-Earth Objects Researche future impact of emerging technologies on international stability and human security by Marina Favaro, Neil Renic and Ulrich Kühn[Research Article] One if by Land, and Two if by Sea: Cross-Domain Contests and the Escalation of International Crises by J Andrés Gannon This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit hightechir.substack.com

Ahead of major festivals, and assembly elections in Gujarat and Himachal Pradesh, the Union Cabinet on Wednesday approved the extension of ‘Pradhan Mantri Garib Kalyan Anna Yojana', PMGKAY, for another three months – from October to December 2022. Launched in April 2020, during the first wave of the pandemic, the scheme extends 5 kg of wheat or rice per person per month free of cost to all beneficiaries of the National Food Security Act, or NFSA. That's estimated at Rs 80 crore, in addition to their regular monthly quota of foodgrains under NFSA.  The latest extension, dubbed the seventh phase of PMGKAY, entails an additional expenditure of Rs 44,762 crore over and above the budgeted food subsidy for FY23.  Phase 6 from April to September 2022 cost the exchequer almost Rs 86,000 crore.  For all phases, the overall expenditure of the scheme will swell to about Rs 3.91 trillion.  And with Phase 7, estimated expenditure on food subsidy this fiscal would be Rs 3.38 trillion against the budgeted Rs 2.07 trillion.   But the government could see some savings in procurement and carrying cost this year due to a decline in wheat purchases. Also, considering the healthy collections in direct and indirect taxes so far, the impact of the additional outlay should not be very stark. Direct tax collections are on track to exceed the budget target.   The Centre is counting primarily on strong tax collections this year to maintain its FY23 fiscal deficit target of 6.4% of GDP. Its subsidy and welfare spending commitments have increased due to inflationary pressures and supply-chain disruptions triggered by the Ukraine war. Economist Vivek Kumar explains if the scheme's continuation and additional outlay can put pressure on fiscal management Vivek Kumar, Economist, QuantEco Research says, this is one of the factors putting pressure on fiscal deficit. Govt saw savings in other areas, tax revenue is good. It can optimise other spending to meet target. High nominal GDP growth gives 40bps of cushion. A day before the Cabinet decision, the Finance Ministry's Department of Expenditure objected to the extension in an office memorandum sent to the Ministry of Consumer Affairs, Food and Public Distribution. It said that since the Covid-19 pandemic had subsided considerably, the reasons for which the earlier extensions were given do not hold anymore, adding that the financial implication was a substantial one. The note flagged existing fiscal concerns due to the war in Europe, its impact on fuel prices and the consequent rise in other subsidies. The department suggested a reduction in quantity if the food ministry still decided to to go ahead with a continuation of the scheme. Continuation of PMGKAY over a long period of time may give an impression that it's of permanent nature, thereby make it difficult to stop, the office memorandum added. But does the financial distress caused by Covid still persist? Professor Dipa Sinha, who is involved with the ‘Right to Food Campaign' elaborates whether the scheme's extension is warranted, at least in the short-term, despite Covid-19 cases abating.  Dipa Sinha, Assistant Professor, Dr BR Ambedkar University, Delhi says extension needed in the present situation. Covid's economic impact remains. Food inflation is new, employment and wages yet to recover. Grain stocks are adequate.  There are still people who need such support, And the government, which appears to have some limited leeway left, has acted accordingly. It appears that the government is trying to strike a delicate balance between providing relief to those who need it the most without upsetting its fiscal math too much.

Programming Note: We will be on a short ‘writing' break. Normal service will resume from Oct 29.Global Policy Watch: When Traditional Institutions Work  Insights on topical policy issues in India — RSJKing Charles III was coronated last week. I saw the pictures of the event, and if you did not know the history of the British monarchy, the whole thing looked like a Monty Python sketch on a Nolan-esque budget. The King wore a costume that might have appeared outdated even in the 12th century when the Westminster Hall was built. The political class in their finery bowed, the aristocracy in splendid robes kept a stiff upper lip, the media continually upped the circus quotient for public consumption, and the Yeomen of the Guard marched in precise steps while some grand music (Handel?) played on. It was all pomp and circumstance (Elgar would have approved).I watched this with mild bemusement. I mean, here's King Charles III, a man who is reputed to speak to his plants, iron his shoelaces, show strange interest in red squirrels and, who often, rails against scientific revolution and the modern economy. What a strange man to ascend the throne of a nation vastly different from him. He must have found the quaintness of the pageantry to his taste. On the other hand, I'm sure he would have some time during the ceremony contemplated the history of the other Charles (Charlies?), who might have ascended the throne with similar accompanying pageantry.Charles I was beheaded for treason by the parliament led by Oliver Cromwell at Whitehall, not too far away from where Charles III was seated. The second King Charles led a charmed life with childhood exile, a triumphant return to the restoration of monarchy, and finally, a long suspension of parliament in the last years of his rule marking his legacy. Uneasy may not lie the head that wears the crown these days (there's really no day job here), but Charles III cannot be too careful about the institution that he represents. The institution is in a perilous state, and he's seen by many as an oddity unfit for the role. The commonwealth states don't have any time for the monarchy. The link to the colonial past is no longer about nostalgia. That's been erased and replaced with an indifference bordering on disdain for monarchy and its role during the excesses of colonialism. Among the young in Britain, the support for the monarchy is on the wane. Only 33 per cent in the age group of 18-24 support monarchy today compared to the 59 per cent who did a decade back. Some feel with the passing of Queen Elizabeth II, the institution of the monarchy will struggle to remain relevant or to serve its vital role of being the ceremonial head of the state. An elected president could do it better. I mean, what's the point of monarchy barring providing grist to the paparazzi mill, occasional photo shoots with visiting heads of state and announcing a few royal honours every year? Why spend enormous money and effort propping up an archaic and undemocratic institution? Why have a democratic constitution and then have a hereditary basis for choosing the head of the state? Isn't that a traditional and conservative imposition on the people?I have more than one reason to support such traditionalism in a democratic polity.Firstly, people need symbols and customs that represent continuity with their past. This assurance that you are part of an unbroken chain that holds all that's good and great about your culture gives meaning to many people's lives. That it extends beyond the personal (faith and family) to the political in how you organise your community and run your nation makes it both an anchor to hold a society steady and an escape valve that lets off any built-up steam of anger. Old institutions build up their influence over the ages. This is how they become easier to follow at any given time. This is a vital capability to preserve in any democracy.Writing in the mid-1860s, Walter Bagehot, the editor of the Economist then, made an insightful observation of how to create and nurture a good Constitution that will clarify this capability further:In ..constitutions there are two parts (not indeed separable with microscopic accuracy, for the genius of great affairs abhors nicety of division) first, those which excite and preserve the reverence of the population — the dignified parts, if I may so call them; and next, the efficient parts — those by which it, in fact, works and rules. There are two great objects which every constitution must attain to be successful, which every old and celebrated one must have wonderfully achieved every constitution must first gain authority, and then use authority, it must first win the loyalty and confidence of mankind, and there employ that homage in the work of government.There are indeed practical men who reject the dignified parts of government. They say, we want only to attain results, to do business: a constitution is a collection of political means for political ends, and if you admit that any part of a constitution does no business, or that a simpler machine would do equally well what it does, you admit that this part of the constitution, however dignified or awful it may be, is nevertheless in truth useless. And other reasoners, who distrust this bare philosophy, have propounded subtle arguments to prove that these dignified parts of old governments are cardinal components of the essential apparatus, great pivots of substantial utility; and so they manufactured fallacies which the plainer school have well exposed. But both schools are in error. The dignified parts of government are those which bring it force which attract its motive power. The efficient parts only employ that power. The comely parts of a government have need, for they are those upon which its vital strength depends. They may not do any thing definite that a simpler polity would not do better; but they are the preliminaries, the needful prerequisites of all work. They raise the army, though they do not win the battle.Secondly, in this age of polarisation and tribal loyalties trumping reason, the idea of an apolitical sovereign reigning as the head of state is appealing. There's a hope there that such a sovereign might not help rally people toward a populist cause but could perhaps hold them back from falling prey to raw emotions and passions. This moral authority, however undeserved, can constrain any political movement that threatens to derail democracy in the name of populism or majoritarianism. There's an additional element to the exercise of undemocratic sovereign power. When things are going good, the checks and balances of power between the legislature, executive and judiciary work effectively. There are debates and consultations before a consensus on the way ahead is arrived. But in times of crisis and exigencies, there's a need for an additional reserve of power or authority that can supersede or expedite the usual decision-making process of a democracy by imposing its will. A constitutional monarchy run on a parliamentary system has that reserve. A presidential style of government lacks this and runs the risk of not being agile enough to counter such exigencies. Like Bagehot put it:“at a quick crisis, the time when a sovereign power is most needed, you cannot find the supreme people. There is no elastic element, every thing is rigid, specified, dated. Come what may, you can quicken nothing and retard nothing. You have bespoken your government in advance, and whether it suits you or not, whether it works well or works ill, whether it is what you want or not, by law you must keep it.”Lastly, a functioning and aware monarchy helps assuage the deeply embedded anxieties about identity in society while gradually accepting the inevitable change that times bring with it. One of the things that the British monarchy, with Queen Elizabeth II at the helm, did well was to stand for what was to be British in times of tremendous upheaval. She was resolutely Christian, proud of the empire, rarely apologetic about its excesses, devoted to her duty as the unelected sovereign and funny in a very British way. Each of these was (and is) a fault line in a society wanting to modernise and cast away the sins of its past. She carried them along because maybe she understood the importance of being a gradualist. Or it is likely the legacy of the institution guided her to be one. It is strange, but the monarchy, the most top-down of the institutions, perhaps has been the bulwark against any hastily concocted plans of a top-down imposed change in societies. I went back to some of the early speeches of Queen Elizabeth II to see if she always knew this was what she had to contend with being a modern constitutional monarch. It could be her speech writers who saw this, or it could be her imprint on them, but her early speeches give a sense of her awareness about this. In her coronation day address, she said:The ceremonies you have seen today are ancient, and some of their origins are veiled in the mists of the past. But their spirit and their meaning shine through the ages never, perhaps, more brightly than now. I have in sincerity pledged myself to your service, as so many of you are pledged to mine.Therefore I am sure that this, my Coronation, is not the symbol of a power and a splendour that are gone but a declaration of our hopes for the future, and for the years I may, by God's Grace and Mercy, be given to reign and serve you as your Queen.Parliamentary institutions, with their free speech and respect for the rights of minorities, and the inspiration of a broad tolerance in thought and expression - all this we conceive to be a precious part of our way of life and outlook.During recent centuries, this message has been sustained and invigorated by the immense contribution, in language, literature, and action, of the nations of our Commonwealth overseas. It gives expression, as I pray it always will, to living principles, as sacred to the Crown and Monarchy as to its many Parliaments and Peoples. I ask you now to cherish them - and practise them too; then we can go forward together in peace, seeking justice and freedom for all men.Listen, much of this can seem like pompous drivel to the more cynical among us. But it is uplifting and meaningful to a lot more. There's a lot worse that was being said—then and now—to people from positions of authority. I'd rather have thousand-year-old institutions rooted in modern or outdated traditions speak uplifting drivel like this. People should get more of this.It applies to India too.Matsyanyaaya: The Chips are Down for Russia's Defence CompaniesBig fish eating small fish = Foreign Policy in action— Abhiram Manchi & Pranay Kotasthane(An edited version of this post first appeared in the Times of India's September 23 edition)Russia is considered a dependable defence partner to India, and rightly so. An underlying assumption is that Russia will continue to be a reliable supplier even in the future. But this assumption fails to consider that Russia's defence production capabilities will continue to decline well after the ongoing war in Ukraine ends. Here's why.Consider these telltale signs first. Russia has delayed the delivery of two Talwar-class stealth frigates for up to six months. There are also short-term delays in the supply of S-400 Triumf missile systems and spares for Kilo-class submarines, MiG-29 fighters and Kamov Mi-17 military transport helicopters. These setbacks shouldn't be dismissed as routine. They indicate a deeper problem: Russia's inability to access semiconductor chips for defence platforms going ahead.Ukraine put out an alleged shopping list of semiconductors, connectors, transformers, etc., that Russia is desperate to purchase. Politico, a US-based media company, divided this list into three parts Critical, Important, and Not-so-important. The Critical list has some chips of basic complexity, such as connectors, and memory chips, besides digital signal processors and Field Programmable Gate Arrays (FPGAs), which fall slightly higher in the complexity grade. There are no cutting-edge chips on the list. These items are pretty standard and can be manufactured on a large scale in most cases. This surprising lack of complexity in Russian equipment has also surprised the US. There have been claims that college students majoring in electrical engineering could reverse engineer and build most of the electronics used. Also, there have been instances of Russian-guided missiles missing their mark purely due to the old versions of navigation systems.When Russia invaded Ukraine in late February, the US quickly banned selling semiconductors used in defence systems to Russia. The new controls target chips, encryption software, lasers and sensors, etc., for Russia's defence industry. The other three pillars of the semiconductor industry, i.e. Taiwan, South Korea and Japan, also banned the export of items through the export control list provided by the US. These controls essentially mean that none of the high-end chips will be available for use by Russia. Russia also does not have the infrastructure to manufacture these chips domestically. Only two Russian companies, Angstrem-T and Mikron Group, are reported to have elementary production-grade chip manufacturing capabilities.As a result, Russia is feeling the pinch. It is running low on hypersonic weapons because of the unavailability of microchips. Examination of the remnants of the missiles Russia launched on Ukraine showed the usage of older technology parts with elementary GPS systems. Sometimes Russia even used chips taken out of dishwashers and refrigerators.This puts India in a precarious position. India is the largest importer of Russian weaponry in the world. Even after the ongoing war ends, it is unlikely that the West will remove these high-tech sanctions. With these constraints to negotiate, Russia could proceed in two ways, neither of which augurs well for India.As seen in most weapons in Ukraine, Russia could use chips from western manufacturers by indirectly sourcing them. It is tough to track chips once they leave the foundry, as there may be multiple unregulated second-hand markets for them. There are also third-party firms sourcing chips and then directly selling them to Russia. While Russia has been a reliable defence partner of India, it would prefer to replenish its declining stocks of chips before considering India's requirements. From the Indian perspective, even if Russia does continue the supplies, India has to think twice before using chips obtained from these dark markets.The other option for Russia's defence industry is to approach China and obtain the chips from them. While this may work for Russia and be advantageous for China to have Russia in their debt, India has to be wary of these Chinese chips entering into the defence equipment being sent to India. Do we want Chinese chips in our missiles and submarines?Whatever the option Russia opts for, India must prepare for a sharp drop in Russia's ability to deliver on defence purchase orders. Their technology is dated, and the chips would come from the black market or China. There will also be delays and cost overruns, with supply chains disrupted, financial systems in tatters and Russian manufacturers closing shop. India will now also face issues with its exports to other countries, a case being the partnership with Russia to work on assault rifle export.Given the reality of Russia's defence sector, India must diversify its weaponry in the short term and focus on local manufacturing over the long term. Regardless of Russia's intentions, its capability to meet India's defence needs has taken a big hit. India must utilise partnerships with the US, Japan, Australia, France, and Israel to secure defence equipment and chip supplies. India Policy Watch #1: India's Semiconductor Policies v2.0Insights on burning policy issues in India— Pranay KotasthaneEarlier this week, the Union Cabinet approved modifications to three of the four schemes introduced in December 2021 for developing a domestic semiconductor ecosystem. Several news websites have claimed that with the government “sweetening the deal”, investments in this sector will be more forthcoming. I agree, but not without some fundamental reservations. Here's why.Semiconductor FabsTo attract chip manufacturing companies, the original programme promised up to 50% upfront financial support for leading-edge nodes (28 nanometres and below). The promised fiscal support for trailing-edge nodes employing older technologies dropped commensurately, going down to 30% for a fab that produces chips at the 45-65 nanometre nodes. (The node size is a rough measure for the size of a building block in a chip. The smaller that number, the more building blocks that can be packed in the same area resulting in higher performance).Under the new scheme, the government promises upfront fiscal support of 50% for all node sizes. The change reflects two realities. First, trailing-edge fabs are crucial for India. The demand for older node sizes will not disappear anytime soon. Future applications such as 5G radios and electric vehicles will continue to require manufacturing at these nodes. Most current defence applications also require trailing-edge chips. Second, many countries are wooing the leading-edge node foundries with much larger incentive packages. Companies such as TSMC are being courted by all major powers, and it's unlikely they will pick India for the most-advanced nodes. India's chances are better for securing older technologies. Display FabsMost display panel manufacturers are located in East Asia — companies from China, Taiwan, South Korea, and Japan dominate this industry. The scheme was designed with the explicit aim of import substitution. The original scheme promised up to 50% upfront financial support subject to a cap of ₹12,000 crores. As part of the changes, this upper cap has been struck off. To me, this scheme didn't make sense even when it was announced. I have four reasons for the scepticism. Even during the high peak of supply chain disruptions during COVID-19, there was no shortage of display panels, indicating that there are no constraints to increasing production, as is the case for chips. (The only shortage related to displays was for the driver chip, not the panels by themselves). Apart from China and Taiwan, South Korea and Japan have leadership in specific segments of displays. So we aren't dependent on one vulnerable source, as in the case of chips. Import dependence on China won't go away. Even if these fabs manufacture displays in India, the input materials will have to be imported from elsewhere. So the bottlenecks will shift but don't disappear. The industry is moving to newer technologies apart from LCDs and AMOLEDs. Samsung is focusing on Quantum-dot displays instead of LCDs. The scheme might be able to get old-tech here, but for newer technologies, imports might continue.Thus, to spend ₹12000 crores for a product in the pursuit of a failed notion of import substitution doesn't justify the opportunity costs. Moreover, removing the upper cap after Vedanta-Foxconn got into this game raises concerns about rent-seeking — the tendency of businesses to distort policies to serve their own interests.Assembly, Test, Packaging Units, and Specialised Low-volume FabsFor assembly, test and packaging firms, & compound fabs, the promised financial support has increased substantially, from 30% to 50%. More importantly, the original scheme allowed disbursal once a facility had begun production. Under the modified scheme, the financial support will be upfront. Prepaid, not postpaid. These changes again warrant scrutiny. Is it another case of rent-seeking? At the margin, I am okay with the changes in this segment. India has a potential advantage because of the need for a large, mid-level trained workforce for this segment of the supply chain, in comparison to conventional semiconductor fabs. Semiconductor DesignSurprisingly, there were no modifications in the one area where India does have a comparative advantage - semiconductor design and design services. The capital requirement for this segment is at least two orders of magnitude lower than the first three segments. And yet, the response to the scheme for encouraging design firms seems less than lukewarm. We propose two changes in the policy for that segment in an article for Hindustan Times earlier this month:To receive deployment-linked incentives under the current scheme, a design firm has to be registered in India with a 50% local stake. That clause could be watered down. Companies should qualify as long as the workforce is majorly Indian and the development happens here.Reducing tariff and non-tariff barriers are also crucial for India's semiconductor design companies to increase operations in India.On both these counts, the status quo prevails. To summarise, the modifications reflect the government's seriousness in attracting investment in this sector. Through these changes, the government is acknowledging that India must start its chip manufacturing journey at the lower end and climb its way up. Getting good at this game takes a couple of decades. At the same time, a thin line separates responsive government policies from regulatory capture by businesses. All industrial policies run this risk, and we need to be vigilant. India Policy Watch #2: Six Essential Questions in Indian Public FinanceInsights on burning policy issues in India— Pranay Kotasthane Longtime readers might recall what I say about public finance: it is an underrated discipline that offers insights across all public policy domains. Many good public finance textbooks exist, but there are few books which explain the subject in the Indian context. Luckily, we now have a book which does that — M Govinda Rao's Studies in Indian Public Finance (SIPF).To make it easier for all readers, I have a book essay that distills the insights from the book as answers to six questions of contemporary relevance. They are:What do we know about the quantity and quality of India's public expenditure?Should India reintroduce wealth and inheritance taxes?Is an imperfect Goods and Services Tax better than no GST?What is the single-largest expenditure item in the union government budget?What ails Indian Fiscal Federalism? andHow many centrally sponsored schemes should the union government run?To know how the book answers these questions, read my Indian Public Policy Review essay here. And if you are serious about learning public policy, the book is unmissable. HomeWorkReading and listening recommendations on public policy matters[Podcast] Who should pay for the UPI? We have a fun Puliyabaazi on this topic.[Post] Big Think's Progress Issue is a must-read, especially Hannah Ritchie's essay An End to Doomerism.[Blog] Morgan Housel on Three Big Things: The Most Important Forces Shaping the World[Paper] Down with Legalese. In this paper, authors confirm that “Poor writing, not specialised concepts, drives processing difficulty in legal language” This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com

As COP27 inches closer, the promises and commitments made during the last global climate conference are under scrutiny. India which was the biggest surprise, thanks to its Net Zero target year announcement has been under the scanner for laying out its climate plans. The Union Cabinet recently approved India's Nationally Determined Contributions which though exhaustive, is still falling short on several fronts - major being climate adaptation. While mitigation measures are being given due importance, specific targets are yet to be drafted. In order for India, among other large economies, to step up its mitigation and adaptation efforts, it needs to raise ambition domestically, bringing policy coherence across the central and state governments, and ensuring access to finance from rich countries. To understand how India should prioritize its mitigation and adaptation efforts, we interviewed Harjeet Singh, Senior Adviser at Climate Action Network. Harjeet is a global expert on the issues of climate impacts, migration and adaptation and has spent two decades working in development sectors. Full transcript of the episode is available here Follow TIEH podcast on Twitter, Linkedin and YouTube Harjeet Singh is on Twitter and Linkedin Our host, Shreya Jai on Twitter, Linkedin & Dr. Sandeep Pai on Twitter, Linkedin Podcast Producer, Tejas Dayananda Sagar on Twitter and Linkedin

Under the Electricity (Amendment) Bill 2022, the government intends to bring in the principle of open access — which will allow consumers the right to choose their electricity provider, regardless of who controls the physical infrastructure in their locality or state. This would be similar to the way in which they can select their mobile and internet service providers. How will it do that? The Bill, which proposes significant changes in the power distribution sector, will allow multiple distribution licensees to function in an area. Having been cleared by the Union Cabinet, the Bill proposes to amend Sections 42 and 14 of the Electricity Act. Thus, it will enable competition in retail power distribution The proposed amendment to these Sections will allow the use of distribution networks by all licensees "under provisions of non-discriminatory open access". The freedom to choose will be provided through multiple distribution licensees on the same network. This is important because while the incumbent Act did allow multiple licensees to operate, it did not give them access to the existing power distribution network. Earlier open-access provisions were undermined by exceptions and legal disputes. In the past, only large consumers were able to choose their provider. With this new Bill, Business Standard has argued that consumer rights must be respected through a principle like open access and that its application is overdue. However, consumer choice will mean that poorly-performing state electricity utilities could end up being shunned in favour of their better-performing counterparts. The Bill will also amend Section 62 to allow graded revision in tariff over a year. The Bill also says that an appropriate commission will fix the maximum ceiling and minimum tariff. An amendment to Section 166 is also slated to strengthen the regulators and the functions carried out by them. However, the Centre has dropped the proposal of privatising state-owned power distribution companies. Overall, the Bill has proved to be contentious. So, what's behind the opposition to its proposals? Farmer bodies and the Opposition believe that by allowing multiple private agencies to distribute power in one place, the amendments will weaken the power of states. The Opposition has said that the amendments will effectively curb the right of state governments to regulate tariff and distribution and are against India's federal structure. They also allege that these amendments will lead to the indiscriminate privatisation of the power distribution sector. Delhi Chief Minister Arvind Kejriwal described the Bill as "dangerous" and claimed that it would only benefit a few power distribution companies. Meanwhile, the central trade unions have also said that the Bill aims to privatise electricity distribution. One of the main concerns is that the Bill will make electricity unaffordable for both ordinary power consumers and farmers by ending all subsidies.

Agneepath Scheme a historical decision taken by Union Cabinet to recruit 46000 Indian youth to serve in the Armed Forces.Defence Minister Rajanath Singh launched the Agnipath recruitment scheme a historic decision approving an attractive recruitment scheme for Indian youth to serve in the Armed Forces. This scheme entails a recruitment process for individuals with ranks below that of officers, with the goal of deploying fitter, younger troops on the front lines, many of whom will be on four-year contracts. It's a game-changer that will give the Army, Navy, and Air Force a more youthful image. The youth selected under the Agneepath scheme will be called Agniveers. A total of 46,000 Agniveers will be recruited this year through this scheme. During the 4 years, Agniveers would be trained by the armed forces in the skills required. --- Send in a voice message: https://anchor.fm/rj-nithya/message

India came one step closer to rolling out 5G service on Wednesday, as the government announced the schedule for the auction of spectrum. The Digital Communications Commission (DCC) had approved the 5G spectrum auction according to Telecom Regulatory Authority of India's recommendations on May 17th this year. The proposal was sent to the Union Cabinet then.   In its meeting on Tuesday, the Cabinet approved the Department of Telecom's proposal for the auction of 72 GHz of spectrum for a 20-year period. And to the shock of telecom operators, it has allowed the development and setting up of private captive networks with the aim of ushering in a wave of innovations in Industry 4.0 applications. It is said that the 5G speed will be ten time faster than its predecessor.   The department of telecom has notified that the auction of 5G airwaves will begin on 26th July. The government said that the payments for spectrum can be made in 20 equal annual installments, which will be paid in advance at the beginning of each year. The government said that it is expected to significantly ease cash flow requirements and lower the cost of doing business in the sector. The bidders will also be given the option to surrender the spectrum after 10 years with no future liabilities with respect to balance installments.   In what appears to be a setback for telcos, the Notice Inviting Application, or NIA, issued on Wednesday showed that the Cabinet has left the reserve price of 5G airwaves unchanged. In May, the Digital Communications Commission had approved the auction of 5G airwaves. Mobile service providers had asked for a 90 per cent cut in the base price.  However, accepting the suggestion of the Telecom Regulatory Authority of India, it only recommended a 36 per cent reduction. However, there was one piece of good news for telcos. Prashant Singhal, the EY Global TMT Emerging Markets Leader, said that one of the key highlights of the 2022 spectrum auction NIA was abolishing the spectrum usage charges, or SUC, for this auction.   Singhal explained that at present, the SUC paid by operators varied between 3-5 per cent of the Adjusted Gross Revenue depending on the year of acquisition. Thus, according to him, the zero per cent SUC would be a welcome relief to operators and enable a faster 5G rollout. Another setback for the telcos was the government move to allow private network. Leading up to the Cabinet nod, telcos had opposed any move to set aside spectrum for captive private networks at an administered price. On the other side of the fence were the likes of the Tatas, ITC and the Broadband India Forum, which had argued that assigning spectrum directly to enterprises was the only way to enable Industry 4.0.     The Cellular Operators Association of India, or COAI for short, had recently sent a letter to Communications Minister Ashwini Vaishnaw. The letter said that there would be "no business case for rollout of 5G networks” by telcos if captive private 5G networks were to be permitted. COAI is the apex body of telecom operators with Reliance Jio, Bharti Airtel, and Vodafone Idea as its key members. The COAI letter also said that in regions where 5G had been rolled out, there had hardly been any gains in revenue from the retail segment. Instead, revenue and efficiency enhancement could only happen in the enterprise segment. Telcos have argued that based on global trends, 40 per cent of the revenues from 5G come from the enterprise segment. On Wednesday, the Broadband India Forum hailed the Cabinet's decision to enable private 5G networks as a step that would give a boost to Digital India. It noted that all the four methods of allocating spectrum for private 5G networks as recommended by TRAI, including the option of enterprises obtaining spectrum directly from the DoT, have been permitted. Thus, the Forum said that enterprises would be able to develop private 5G networks for specialised captive use and march t

The Union Cabinet's decision to enable private 5G networks is a boon for digital tech companies with the Broadband India Forum (BIF), the leading think-tank and policy forum for digital communications, hailing it a “forward-looking step”, and a “harbinger of the digital transformation”, which is critical for digital India. TV Ramachandran, President, Broadband India Forum tells Ronendra Singh what this move means and how captive networks are likely to help India expand its telephony and data networks. Listen in! Read the full article here --- Send in a voice message: https://anchor.fm/business-line/message

Ready to enjoy blazing-fast speeds with 5G? Looking forward to enjoying entertainment options, such as immersive video and wireless holograms, which were hard to come by in the past? Well, there is good news for you, at least depending upon which city you live in. We are one step closer in our tryst with new high-speed services.   The decks have reportedly been cleared for the Department of Telecommunications, or DoT, to auction the 5G spectrum. In fact, India might see 5G services being showcased on 15th August. The Telecom Regulatory Authority of India, or TRAI, has left it to the DoT to take a decision on three crucial issues. The first is the validity period of spectrum assignment. The second is the deferment of auction in the 27.5 GHz-28.5 GHz band. And, the third is the quantum of spectrum that will be reserved for BSNL and MTNL. As a result, the whole process has become simple. Going ahead, the Digital Communications Commission, or DCC, will clear the 5G spectrum auction.  Subsequently, it will have to be cleared in the Union Cabinet. Finally, the DoT could begin the auction process in June. On their part, the telcos have said that if everything goes well, limited 5G services roll out might be seen by the end of this year.   Telcos had demanded a 90 per cent reduction in the 3.5 GHz spectrum base price, compared to the regulator's recommendation in 2019. But this demand has not been met. However, at 317 crore rupees for a pan-India 1 MHz of spectrum, the base price has been reduced by 36 per cent for a validity of 20 years. While it had earlier wanted a 30-year-period validity, the DoT took an about turn and suggested a 20-year period. According to a recent Business Standard report the base price for a 30-year period would be 1.5 times the base price for 20 years. As a result, the base price would have been 476 crore rupees, which would be pretty close to the 491 crore rupees recommended by TRAI in 2019. And, the telcos had made it clear that the price being pegged so high would discourage them from taking part in the auctions.   The 30-year period was one of the elements of the telecom package announced by the government. However, the Cabinet can still take a call on any further reductions. On the issue of private captive networks, TRAI had earlier recommended that enterprises should be allowed to get spectrum directly from DoT to run their own networks in remote locations. However, it has now changed tack and both the DoT and the regulator are on the same page on this contentious issue. Now, TRAI has reportedly said that a demand assessment would be necessary for enterprises to get spectrum directly.   Telcos, on their part, have highlighted that the bulk of the business in 5G would come from enterprises, which is a trend seen globally. While the current auction might not prove to be a similarly negative inflection point, it is worth asking that under the present terms and conditions, will an appreciable number of Indians be able to take advantage of 5G services?    

This episode is on how Product Design Linked Incentive (PLI) and Design Linked Incentive (DLI) schemes will help India become a manufacturing hub. The Union Cabinet approved a Rs 76,000-crore program for development of sustainable semiconductor and display manufacturing ecosystem in the country. This amount will be spent on these projects in 6 years. Product Design Linked Incentive – under this scheme, reimbursement of up to 50% of the eligible expenditure subject to a ceiling of ₹15 Crore per application will be provided as fiscal support to the approved applicants who are engaged in semiconductor design for Integrated Circuits (ICs), Chipsets, System on Chips (SoCs), Systems & IP Cores and semiconductor linked design. Design Linked Incentive- This scheme will also offer financial incentives as well as design infrastructure support across various stages of development and deployment of semiconductor design for Integrated Circuits (ICs), Chipsets, System on Chips (SoCs), Systems & IP Cores and semiconductor linked design over a period of 5 years. Tune into this podcast to listen to Sanjay Gupta, Vice President and India Managing Director, from NXP India talk about the advantages of these schemes. #TechGig​ #Semiconductor #Chips #Technology #TechCommunity

Delhi has a Lieutenant Governor instead of a Governor or Administrator like other States and UTs and despite being one of the most populous territories in the world, the franchise rights of Delhi's citizens are insignificant vis-a-vis fellow citizens of other states in India for significant control over Delhi's administration vests with the Union Cabinet and not with elected Delhi govt. With murky power borders, Union govt. and Delhi govt. were always at loggerheads until recently when the SC delineated borders through a constitution bench. This episode entails detailed administrative history of Delhi, reasons for assigning limited sovereignty to Delhi as a state and comprehensive analysis of arguments made by both Delhi govt. and Union govt. and the judgment delivered by the constitution bench.

Article 267 of the Constitution mandates formation of a corpus under Contingency Fund of India to deal with any emergency situation. It is an imprest placed at the disposal of the President of India. Government cannot withdraw funds from it without authorization of the Parliament. And the corpus has to be replenished with the same amount later. It is one of the three categories in which the central government accounts are kept based on the constitutional requirement. The other two are Consolidated Fund of India and the Public Account. We had explained Consolidated Fund of India in the decoded section of our previous episode. In government accounts, the Contingency Fund has a single Major Head to accommodate all transactions of the fund. It is placed at the disposal of the President, who releases the funds on request of the Union Cabinet at a time when there is a crisis, such as a natural disaster. Any expenditure incurred from this fund requires a subsequent authorisation from the Parliament.  The Union finance ministry holds the fund on behalf of the President. And the fund size is enhanced from time to time by the government. In 2005, the corpus of the fund was raised from Rs 5 crore to Rs 500 crore. And in the last Union Budget, the government enhanced the Contingency Fund of India from Rs 500 crore to Rs 30,000 crore through the Finance Bill 2021.   The fund can be increased through a Finance Bill when the Parliament is in the session. Or through Ordnance if the House is not in session and situation warrants. Withdrawal from the fund takes place with the approval of the Secretary of Department of Economic Affairs, in terms of the Contingency Fund of India Act, 1950.  While increasing the corpus last year, the government also conferred more powers to the Expenditure Secretary in dealing with the fund.  An amount equivalent to 40% of the corpus has now been placed at the disposal of the Expenditure Secretary. All further Contingency Fund releases beyond this limit will require the approval of the Expenditure Secretary in addition to the Economic Affairs Secretary's approval. Watch video

In the making since 2015, the Model Tenancy Act (MTA) was approved by the Union Cabinet last year in June. Almost all the states have now adopted this Act, which proposes to streamline the process of renting property. According to the new norms, the landlord and tenant will have to sign a written agreement specifying the rent, period of tenancy and other related terms. So, all the tenancy agreements will now be in writing.   It proposes a three-tier quasi-judicial dispute adjudication mechanism. And no civil court will have jurisdiction over the matters. The Act also says that all the rent agreements will have to be registered with the Rent Authority. According to an estimate by the Ministry of Housing and Urban Affairs, around 11 million houses are lying vacant in urban areas as landlords are unwilling to let these properties due to the lack of protective measures in the current tenancy and rent control laws.  The Economic Survey 2018 had blamed “unclear property rights, weak contract enforcement and low rental yields” for this structural problem.  Owners of residential properties are reluctant to rent out their houses because they fear tenants would refuse to vacate their property when the time comes, and may not agree to changes in the rent amount as well.   In the event that a tenant refuses to vacate the house, the landlord can claim double the monthly rent for two months, and four times the monthly rent thereafter. On the other hand, the Act safeguards tenants by mandating that the landlord must give three months' notice before increasing the rent, unless otherwise specified in the rent agreement. Security deposit for residential properties will be capped at two months' rent.  States will have to set up a grievance redressal mechanism comprising Rent Authority, Rent Court and Rent Tribunal to provide fast-track resolution of disputes. Disposal of a complaint/appeal by the Rent Court and the Rent Tribunal will be mandatory within 60 days. All rent agreements have to be submitted to the Rent Authority. A digital platform will be set up in the local vernacular language or the language of the State/Union Territory for submitting tenancy agreement and other documents. And No civil court will have jurisdiction over matters pertaining to provisions under the Act. The Model Tenancy Act also states that the security deposit must be handed back to the rentee on the day the possession of the property is handed back to them.  In case of disputes, the landlord is forbidden from cutting off essential supplies (like water and electricity).  He is also restricted from entering the property during the active rental period without giving prior notice. The Model Tenancy Act may sound good in letter. However, a lot will depend on the Act's implementation by various states and Union territories.  Since land and tenancy are state subjects, and since the Act suggests all states to set up dedicated courts and resolution authorities, the experience in each state could differ vastly.  Watch video

You know how every few weeks you get a notification on your phone about linking your PAN card to your Aadhaar card? Well, you may soon start getting similar messages about linking your voter ID with your Aadhaar number now as well. Because on 20 December, the Union Cabinet passed the Elections Law (Amendment Bill) 2021, with certain electoral reforms, one of which allows the linking of voters IDs with Aadhaar. There are a few other reforms too, including allowing first-time voters to have the chance to register four times a year instead of once; making the electoral law gender-neutral for service officers—where words like wife were replaced by spouse. But in today's episode, we will talk about the reform to link voter ID to Aadhaar because it caused an uproar in Parliament given how contentious the issue is and it passed without any discussion via a voice vote in just 10 minutes. And, of course, while linking Aadhaar with your voter ID may make life easier to an extent, on the flip-side, many experts and activists pointed serious concerns regarding privacy and voters being excluded. This concern of exclusion is legitimate because in 2015, when this idea was first gamed out by the Election Commission, about 55 lakh names were found to be deleted from the voter database of two states—Andhra Pradesh and Telangana. And with assembly elections in important states like Uttar Pradesh just around the corner, the timing of this bill also raises eyebrows. So in today's episode, we will go through why this move to link Aadhaar to voter ID is contentious and its possible impacts. Guest: Vakasha Sachdev, The Quint's Legal Editor. Host and Producer: Himmat Shaligram Editor: Shorbori Purkayastha Music: Big Bang Fuzz Listen to The Big Story podcast on: Apple: https://apple.co/2AYdLIl Saavn: http://bit.ly/2oix78C Google Podcasts: http://bit.ly/2ntMV7S Spotify: https://spoti.fi/2IyLAUQ Deezer: http://bit.ly/2Vrf5Ng Castbox: http://bit.ly/2VqZ9ur

India is still struggling to put an end to child marriages in the 21st century. But is raising the minimum legal age of marriage for women the solution? Ever since the Centre indicated its intention, to raise the minimum age of marriage for women from 18 to 21 years of age, there has been a lot of conversation around this move. And now a year later, on Thurdsay, 16 December, the Union Cabinet has officially cleared the proposal. This has been done on the basis of recommendations from a special task force set up by the DCW. Although details of the panel's report isn't available in the public domain yet, the main rationale for this proposal has been to address the physiological and psychological issues that arise from child marriages in the form of early pregnancies, poor nutrition levels, high infant mortality rate, high maternal mortality rates, etc — all of which are ultimately deleterious for women's progress. While a lot of people have welcomed the move, the opinion is divided with some also cautioning that this decision could backfire. But what are the concerns here exactly? In what way can raising the minimum legal age of marriage backfire? In this episode, we'll take a full-rounded look at this proposal, the reasons behind it and also the criticisms against it. Click here to contribute to The Quint's special project — Girls Out of School. Host and Producer: Shorbori Purkayastha Guests: Madhu Mehra, lawyer and founding member of Partners for Law in Development (PLD) Amita Pitre, Lead Specialist, Gender Justice at Oxfam India. Editor: Shelly Walia Music: Big Bang Fuzz Listen to The Big Story podcast on: Apple: https://apple.co/2AYdLIl Saavn: http://bit.ly/2oix78C Google Podcasts: http://bit.ly/2ntMV7S Spotify: https://spoti.fi/2IyLAUQ Deezer: http://bit.ly/2Vrf5Ng Castbox: http://bit.ly/2VqZ9ur

Top headlines   Sensex drops 329 pts amid tepid global cues; Nifty ends below 17,250 Cabinet clears Rs 76,000-cr incentive scheme for semiconductors Paytm nears record low, down 13% as anchor investors' lock-in period ends Analysts bullish on NBFCs despite RBI's PCA framework HP Adhesives subscribed 3 times so far on Day 1   Domestic equities whipsawed in trade on Wednesday as investors awaited the outcome of the US Federal Reserve's policy meeting. Globally, Asian shares were little changed and the European shares were weak in early trade as investors paused to see what the Federal Reserve would do to control inflation, while a leap in prices to a 10-year high in Britain added to pressure on the Bank of England to act on Thursday.   Back home, the headline BSE Sensex settled 329 points down at 57,788, while the Nifty50 gave up the 17,250 mark to end 103 points lower at 17,221.   In broader markets, the midcap and smallcap indices on the BSE dipped 0.6 per cent and 0.4 per cent, respectively.   The sell-off was largely broad-based in the markets today with all sectors except the Nifty Auto ending in the negative territory. The Nifty Realty was the top laggard as it slipped nearly 2 per cent. It was followed by the Nifty PSU Bank and IT indices, down 1.3 per cent and 1 per cent, respectively.   Now, coming to some of the buzzing stocks of the day.   The shares of Bajaj Finance dropped another 3 per cent on the BSE today. It has fallen by as much as 8 per cent in the past three days on growth concerns. With today's fall, the stock of the NBFC has corrected 14 per cent from its record high of Rs 8,020, touched on October 10, 2021.   Meanwhile, shares of One97 Communications, the parent company of digital payments major Paytm, slipped 13 per cent to Rs 1,297.70 on the BSE in intra-day trade as the mandatory one-month lock-in period for anchor investors expired today. They ended 7.7 per cent lower at Rs 1,380 apiece.     Auto shares, including TVS Motor, Maruti, M&M, and Hero MotoCorp, ended up to 1.4 per cent higher on the NSE today after the Union Cabinet approved a Rs 76,000-crore production-linked incentive (PLI) scheme for semiconductor production.   Lastly, the Reserve Bank of India's diktat to bring non-banking financial companies under its Prompt Corrective Action (PCA) framework will be largely neutral for the sector, said analysts, who believed the companies covered under the ambit were already complying with the norms.   However, despite this, shares of the Bajaj twins, M&M Finance, Muthoot Finance, and Shriram Transport Finance slipped between 2 and 3 per cent.   A look at the primary markets:   HP Adhesives' Rs 126-crore initial public offering sailed through on the very first day and was subscribed 3 times as at 4 PM. The retail portion of the offer has already been subscribed over 16 times.   Meanwhile, the public offer of Data Patterns has been subscribed nearly 7 times so far on day 2 of the issue. Besides, the IPO of MedPlus Health has been subscribed over 52 times so far on the final day of the issue. The portion reserved for QIB investors has seen a subscription of over 110 times while that of NIIs has been subscribed 85 times.   On Thursday, markets will react to the US Fed's policy decision. While the majority expects that the committee would hold rates citing the possible challenges due to the new Covid variant, commentary on tapering, inflation and growth would be critical. Besides, we have weekly derivatives expiry scheduled, hence investors should expect choppiness to remain high. Participants should wait for some clarity over the direction and limit positions.

Top headlines • Benchmark indices change course to end in red; Sensex drops 196 points • Go Fashion makes stellar stock market debut, lists at 91% premium • Star Health IPO receives lukewarm response; subscribed around 11% on Day 1 • RBI likely to raise rates and tighten monetary policy, says Goldman Sachs • Crypto Bill to be introduced in Parliament after Cabinet's approval Market bulls failed to keep the indices afloat on the bourses on Tuesday after a statement by Moderna chief on vaccines' likely ineffectiveness jolted investor confidence. Although health authorities have said it will take several weeks to fully gauge how Omicron's more than 30 mutations will affect its response to existing vaccines, Moderna CEO Stephane Bancel told the Financial Times that he expected vaccines to be less effective against the new coronavirus strain. Reacting to the development, shares in Asia-Pacific fell during Tuesday's trade. South Korea's Kospi fell 2.4 per cent, while Hong Kong's Hang Seng and Japan's Nikkei slipped 1.9 per cent and 1.6 per cent, respectively. In Europe, the pan-European Stoxx 600 index was down 1.6 per cent by mid-morning. Dow Jones futures were also down by over 500 points, indicating a weak start for Wall Street. Against this backdrop, the Sensex gyrated 1,683 points intra-day and ended 196 points down at 57,065. The NSE Nifty50 also slipped below the 17,000 mark to end at 16,983, down 71 points. Earlier in the day, the 50-pack index hit a low of 16,931. With today's decline, the benchmark indices took their total decline in November to 4 per cent, their biggest monthly loss since March 2020. This correction was triggered by a cocktail of FII selling, high crude oil prices, fears of a possible change in the interest-rate scenario, and the new heavily mutated Covid-19 variant Omicron. Among individual stocks, 17 of the 30 Sensex constituents and 28 of the 50 Nifty constituents ended the day in the red. Tata Steel, Kotak Bank, Bajaj Auto, M&M, Bharti Airtel, and RIL were the biggest losers. The biggest gainers were PowerGrid, Shree Cement, Bajaj Finserv, Titan, and Tata Consumer Products, all of which rose by up to 3 per cent. The broader markets, however, witnessed decent buying, tilting the overall market breadth in the favour of buyers. The BSE MidCap index added 0.3 per cent and the BSE SmallCap index gained 1.45 per cent. A look at some of the other important developments of the day: • Shares of Go Fashion (India) made a stellar market debut today, with the stock getting listed at Rs 1,316 on the BSE. This was a 91-per-cent premium to its issue price of Rs 690. The shares, however, witnessed mild profit booking and ended at Rs 1,253 apiece. • The initial public offering of Ace investor Rakesh Jhunjhunwala-backed Star Health and Allied Insurance has been subscribed 11 per cent so far on Day 1. The retail portion has been subscribed 63 per cent. • Indian online retailer Snapdeal, which is backed by SoftBank Group and Alibaba Group Holding, is planning to file preliminary documents for a $250-million IPO in the next few weeks. According to a Bloomberg report, the e-commerce company aims to go public in early 2022, and plans to raise at least $200 million at a valuation of $1.5 billion. • The Reserve Bank of India could start tightening its monetary policy from the next financial year as consumer prices are rising, according to Goldman Sachs Group. The Group expects the central bank to hike rates by 75 basis points in 2022. • Finance Minister Nirmala Sitharaman has clarified in the Rajya Sabha that the government is not considering a ban on cryptocurrency advertisements and that the crypto Bill will be introduced in Parliament after it receives the Union Cabinet's approval.

The Union Cabinet on 24 November approved a bill to repeal the three farm laws, which triggered protests at New Delhi's borders by thousands of farmers. All this and more in our weekly news segment from India.

Union Cabinet approved the repeal of the 3 controversial farm laws, Delhi government said that offices and educational institutes will reopen from Nov 29, Mamata Banerjee to meet PM Modi today and other top news in this bulletin.

Top headlines • RIL, Infosys drag Sensex 323 points down;  Nifty holds 17,400 • India to consider allowing crypto trading for some investors • Cabinet approves repeal of farm laws • Jhunjhunwala-backed Star Health looking to raise Rs 7,000 cr via IPO A firm trading day saw an anti-climactic end today, with indices turning sharply lower towards the fag end of the session.  Last hour sell-off in heavyweights like Reliance Industries, Infosys, HDFC, ITC, and Maruti Suzuki, coupled with a spike in crude oil prices and uncertainty over cryptocurrency regulation, soured sentiment on the Street. The BSE Sensex closed at 58,341, down 323 points or 0.55 per cent, after swinging 825 points intra-day. On the NSE, the Nifty50 ended at 17,415, down 88 points, or 0.5 per cent. Meanwhile, in the broader markets, the indices ended on a mixed note. The BSE MidCap index fell 0.57 per cent, while the BSE SmallCap index added 0.44 per cent. Sectorally, the Nifty IT index was the biggest loser, as it ended 1.5 per cent lower on the NSE. On the flipside, the Nifty Bank index added 0.45 per cent. Overall, the market breadth on the BSE still favoured buyers, with over 1,900 stocks advancing on the BSE today, compared with 1,350 stocks that declined. Individually, the shares of Zee Entertainment Enterprises surged 8 per cent intra-day, gaining 13 per cent in the past two trading days, after Punit Goenka, MD and CEO of Zee, said that merger talks between his company and Sony Pictures were in final stages of stitching up. The shares ended 6.5 per cent higher on the BSE at Rs 333 per share. That apart, shares of the recently listed companies, including Latent View Analytics, Paytm, SJS Enterprises, and Fino Payments Bank rallied up to 20 per cent on the BSE in Wednesday's intra-day trade on the back of heavy volumes. Except Latent View Analytics, all three stocks had seen a weak market debut. While these stocks have now recovered by up to 35 per cent from their post-listing lows, they are still trading below their respective issue prices. Coming to primary market developments, Star Health and Allied Insurance Co is aiming for a valuation of about $7 billion in its initial public offering. Backed by ace Indian billionaire investor Rakesh Jhunjhunwala, the Indian health insurance provider is looking to raise Rs 7,249 crore and has set a price band between Rs 870 and Rs 900 per share, according to a Reuters report. In a separate development, the Union Cabinet on Wednesday approved a Bill to repeal the three contentious farm laws. The new Bill will now be introduced in the Lok Sabha for passage in the upcoming winter session beginning November 29. That apart, a Bloomberg report has suggested that India might be considering a proposal to treat cryptocurrencies as a financial asset while safeguarding small investors. The report has also said that the legislation could stipulate a minimum amount for investments in digital currencies, while banning their use as legal tender.

India's second-largest telecom operator has taken the lead in hiking prepaid mobile tariffs to give itself some elbow room to roll out 5G in India and also make further investments in network and spectrum. Effective from November 26, Airtel's prepaid plans will get costlier by up to 25 per cent as the company has instituted a sharp broad-based hike that will affect all packs.  The most notable is the hike in tariff of its entry-level 28-day voice-only plan to Rs 99 from Rs 79. According to India Ratings and Research, Airtel could be aiming at shifting non-data customers to data customers, which can lead to higher average revenue per user. Indian telecom market being an oligopoly, the other two private players Vodafone Idea and Reliance Jio are widely expected to follow suit. The last industry-wide price increase came two years ago in December 2019.  Airtel's average revenue per unit or ARPU at the end of the September quarter was Rs 153, and with the latest tariff hike, analysts expect this number to hit Rs 185. The company has always maintained that the ARPU needs to be Rs 200 in the near term and ultimately at Rs 300.  Airtel's move could signal the end of the aggressive price war that had started with the entry of Reliance Jio in late 2016 with free voice calls and dirt-cheap data. The telecom industry's average revenue per user touched Rs 67 in September 2018. Airtel chairman Sunil Mittal has long been arguing that tariff hike was the only way forward for the industry.  The tariff hikes combined with the relief measures approved by the Union Cabinet in September this year can put the telecom sector on a path to sustainability again.  Vodafone Idea had pushed for a minimum floor price with telecom regulator TRAI, but the idea did not take off. With a rapidly declining subscriber base, it could not take the lead in raising tariffs. So, Airtel's decision could provide a new lease of life for Vodafone Idea which is now holding talks with investors to raise much needed funds. The company has a total debt of Rs 1.94 trillion, with statutory dues like deferred spectrum payment obligations and adjusted gross revenue or AGR dues making up most of it. Vodafone Idea and Airtel have decided to opt for the four-year moratorium on AGR and spectrum dues offered by the government. In the relief package, the government rationalised the definition of AGR, by excluding non-telecom revenue from its ambit. The jury is not out yet on whether the tariff hike and the recent telecom package will help the telecom industry in the long run. But experts believe that they would certainly help the industry with the much-delayed capital raise, which is crucial for it to fast-track network investments. 

Top headlines • Sensex falls for a second day, down 314 pts; Nifty ends below 17,900 • Tata Motors hits over 5-year high on healthy demand outlook • Cabinet approves Rs 6,466-crore fund for telecom infra • LIC IPO expected by Q4, says DIPAM Secretary • Go Fashion IPO sails through on first day After moving in a tight range for the better part of the day, the key benchmark indices ended near the day's low for a second straight session on Wednesday. The BSE Sensex dropped to a low of 59,945, before ending 314 points down at 60,008. The NSE Nifty, on the other hand, erased 100 points to close at 17,899. Reliance Industries again accounted for almost 50 per cent of the Sensex loss as the stock ended 2 per cent lower on the BSE. Axis Bank, Kotak Bank, and Bharti Airtel were other top drags on the index. In broader markets, smallcaps bucked the trend. The BSE Smallcap index managed to end flat with a positive bias, while the Midcap index slipped 0.2 per cent. Sectorally, the Nifty Auto index outperformed the benchmarks for a second straight day today. In the past 2 days, the index has gained nearly 4 per cent on the NSE with individual stocks like Maruti Suzuki rallying 11 per cent during the period. Shares of the RC Bhargava-led company closed nearly 3 per cent higher today, near its 52-week high level of Rs 8,400 per share. This was after media reports that the company had received approval for setting up a third passenger vehicle manufacturing plant in Haryana's Sonepat district. The rally in the auto pack was also led by Tata Motors, which hit its highest level since February 2017 in intra-day trade. The stock has advanced 6 per cent in the past two days on hopes of a demand recovery. On the downside, the Nifty Realty index was the worst hit today, down 1.6 per cent. The Telecom index, too, ended 1 per cent lower, with individual stocks exhibiting mixed trends after the Union Cabinet approved a corpus of Rs 6,466 crore to provide mobile tower connectivity in Eastern India. Now, coming to primary market updates. The three-day initial public offering of Go Fashion, which opened today, was subscribed over 2 times with retail investors' portion getting a subscription of over 10 times. The IPO of Tarsons Products, meanwhile, concluded with nearly 80 times subscription. The portion reserved for NIIs and QIBs got massive subscriptions of over 180 times and nearly 120 times, respectively. In a separate development, Tuhin Kanta Pandey, secretary in the Department of Investment and Public Asset Management, said today that the government was looking to list LIC by March 2022. And before we close, a look at the trade set-up for tomorrow. A fresh surge in Covid cases globally and inflationary pressures and expensive valuation back home are keeping investors on the sidelines. Cautious trading with thin volumes is expected tomorrow, given an extended weekend ahead. Technically, the Nifty formed a bearish candle for a third straight day and closed below its support level of 17,900. Going ahead, the index may now move to its next support level of 17,700 and it could face a resistance around 17,950.

COP26 climate conference released two draft agreements, Union Cabinet approved restoration of MLADS scheme for remaining part of current financial year, New Zealand pulled off a heist to upstage England in the first semifinal of T20 World Cup & other top news in this bulletin.

When lockdown was imposed and schools were shut, scores of reports about students climbing to the top of trees to attend virtual classes on their phones poured in from various quarters of the country. In this age and time, children risking their lives to get education shocked many. A majority of students in rural areas could not attend the online classes at all during the pandemic as they had no Internet connectivity.   But one technology is promising to change all this -- satellite-based broadband connectivity. What challenges does it face? Here is a peek into this new technology which promises to bridge the digital divide:   India's rural Internet connectivity so far   70% of India's rural population does not have Internet access  Union government had launched Digital India scheme to connect rural areas with Internet 1.78 lakh gram panchayats connected with optical fibre so far  The target is to provide broadband connectivity to 2.5 lakh gram panchayats Internet penetration in the country stood at around 50% in 2020   India had launched BharatNet project in 2011 to ensure that every village panchayat in the country has broadband Internet connectivity. But, according to a report in 2020, half of India's population still does not have Internet access. And 70% of the country's rural population is yet to log in to the Internet.   Till date, BharatNet connections have been provided to 1.78 lakh gram panchayats. In June this year, the Union Cabinet approved the implementation of the project in 16 states through the Public Private Partnership Model (PPP). When it comes to wired broadband, India had only 24.3 million customers at the end of August, most of whom are urban subscribers.   How satellite-based internet service works   Starlink and OneWeb are among a number of companies which use Low-Earth Orbit satellites to provide high-speed broadband Internet services around the world, with a special focus on remote areas where deploying mobile towers or fiber optic cables are difficult. These satellites can beam the Internet to virtually anywhere on the earth.    Starlink and OneWeb   Starlink is a subsidiary of Elon Musk's rocket company SpaceX OneWeb is owned by Sunil Mittal's Bharti Group along with the British government Leading the race, Starlink has already deployed more than 1,700 satellites in low-earth orbit   Sensing the opportunity, Starlink and OneWeb are looking to provide the unserved areas with the Internet. Starlink is a subsidiary of Elon Musk's rocket company SpaceX and OneWeb is owned by Sunil Mittal's Bharti Group along with the British government. Starlink is one of a growing number of companies launching small satellites as part of a low-Earth orbiting network to provide low-latency broadband Internet services around the world, with a particular focus on remote areas that terrestrial Internet infrastructure struggles to reach.   Satellite broadband wars   Starlink has already deployed more than 1,700 satellites in low-earth orbit, against a target of having 12,000 satellites in its constellation. Meanwhile, OneWeb has put 322 satellites into orbit and plans to have 648 of them by the middle of next year. Starlink currently serves about 100,000 users in 14 countries. Recently, Starlink established a subsidiary in India headed by former PayPal executive Sanjay Bhargava as it gears up to launch its services in the country. It has already received over 5,000 pre-orders for its devices in India. But there are some factors which could hit its Indian venture, it's the high cost is one of them     The roadblocks   Starlink may cost $99 or Rs 7,300 per month Starlink kit will cost Rs 37,000 India's rural consumers will not be able to afford it   Like satellite TVs, its services will also be affected by cloudy sky    Starlink's service at the moment costs about Rs 7,300 per month. This is in addition to Rs 37,000 that customers have to shell out for the Starli

On September 15th, the Union Cabinet approved a series of reforms and relief measures for the telecom sector. The most significant of these is a four-year moratorium on payments stemming from the Supreme Court's September 2020 judgement on Adjusted Gross Revenue (AGR). Another one is the decision to remove all non-telecom revenue from AGR. The telecom sector is also now allowed to receive 100% FDI through the automatic route – up from the 49% that was permitted earlier. Taken together, these policy changes are expected to help the telecom majors overcome short-term liquidity issues, and raise capital, enabling them to keep their debts under control and invest in capacity-building. However, questions remain. What is the actual quantum of relief on offer? Will it be adequate for those players who are under a mountain of debt? And can the reforms package sustain a three-player market? We explore these questions in this episode. Guest: Ankit Jain, Assistant Vice President and Sector Head, Corporate Ratings, at ICRA Limited Host: G. Sampath, Social Affairs Editor, The Hindu

The Indian benchmark indices snapped two-day gaining streak to end Wednesday's session nearly 1 per cent lower. The BSE Sensex fell 555 points to close at 59,189 amid weak cues from global markets as well as rising power and gas prices. The Nifty, meanwhile, closed below the 17,650-mark at 17,646, down 176 points. The market breadth too favoured the bears as the advance-decline ratio was at 1:2.   Meanwhile, Hindalco, SBI Life, IndusInd Bank, JSW Steel and Tata Steel were among the major losers on the Nifty. Tata Consumer, ONGC, UPL, Britannia and HDFC Bank were among major gainers. About 1291 shares have advanced, while 1754 shares declined. That said, all sectoral indices ended in the red with capital goods, IT, metal, pharma, auto, realty and PSU Bank indices falling in the 1-3 per cent range. Further, BSE midcap and smallcap indices fell 0.5-1.2 per cent. In this regard, the textile sector was in focus today as the Union Cabinet approved a proposal for setting up seven mega integrated textile parks at a total outlay of Rs 4,445 crore over five years. The government said the scheme will help attract cutting age technology and boost FDI and local investment in the sector. Some textile stocks which gained today include Shiva Texyarn, Jindal Worldwide, Zenith Exports and United Textiles.   Chemical stocks too maintained the gaining momentum with Deepak Nitrite up 8 per cent and Tata Chemicals rising 3 percent. Coming to stock-specific moves, the shares of ONGC extended gains as gas prices continue to rise, up over 2 per cent today. Bosch was the top midcap gainer, rising nearly 12 per cent. The stock hit over two-year high levels on expectation of demand improvement going-forward. Shares of Marico rallied nearly 6 per cent in intraday deals to hit a record high of Rs 590-mark after the company said it has recorded revenue growth in the low twenties with strong double digit volume growth during the September 2021 quarter. The stock erased most gains to end only 1 per cent higher. Tata Consumer, Britannia too bucked the losing trend, and closed higher. That said, index heavyweight Reliance Industries fell 2 percent after hitting record high on Tuesday. September sales and volumes failed to boost sentiment as Tata Steel ended down 3 percent. Going into trade on wednesday, the markets may continue to see some profit-booking amid weak global markets.  Spike in crude prices is spooking the Indian market while inflation is affecting US bond yields. The RBI bi-monthly policy meeting is another key event to watch out for. Vinod Nair, Head Of Research at Geojit Financial Services said RBI commenced its three-day MPC meeting in which the central bank is expected to keep rates unchanged, however, it is likely to announce measures to gradually pump out liquidity from the economy. Lastly, stock-specific moves as well as news related to Covid-19 will be among other major triggers for investors.

India's benchmark equity indices Sensex and Nifty ended 2020-21 with gains of around 70%, the most in 11 years. India's market capitalisation climbed over 80% during the year – by Rs 91 trillion to Rs 204 trillion. The stock market performance translated into profits for some of the top cabinet ministers in the government, too, reveal declarations submitted with the Prime Minister's Office. Minister of Home Affairs and Cooperation Amit Shah's net worth grew 32% to almost Rs 38 crore in FY21. This was mainly due to a 74% jump in the value of shares held by him. He declared the total value of his securities at Rs 24.5 crore as of March 31, 2021, compared with Rs 13.5 crore the previous year. His portfolio includes Rs 19.7 crore worth of inherited securities and Rs 3.78 crore worth of purchased securities. According to the affidavit submitted by Shah to the Election Commission in 2019, his listed equity portfolio consisted of more than 190 stocks. His top holdings include Reliance Industries, L&T Finance, Tata Consultancy Services, UltraTech Cement, Hindustan Unilever, Maruti Suzuki and ITC. The value of stocks in Commerce and Industry Minister Piyush Goyal's portfolio grew by 96% to Rs 5.33 crore from Rs 2.72 crore in FY20. Among the richest ministers in Prime Minister Narendra Modi's Cabinet, Goyal also saw his net worth increasing by Rs 2.8 crore, or 10%, to Rs 30.26 crore. Meanwhile, the Franklin Templeton Credit Crisis impacted Petroleum Minister Hardeep Puri's assets. His disclosure shows investments worth Rs 18.6 lakh in Franklin Credit Risk Fund, one of the six schemes voluntarily wound up by the fund house last year. The scheme had marked down the value of its exposure to YES Bank and Vodafone Idea's debt after creating segregated portfolios. Railway Minister Ashwini Vaishnaw, who was inducted into the Union Cabinet in July held three listed stocks – Gujarat State Fertilizers & Chemicals, L&T and Vedanta – which together had a value of Rs 6.23 lakh. Another new face in the Union Cabinet, Civil Aviation Minister Jyotiraditya Scindia, has declared mutual fund investments to the tune of about Rs 11 lakh. His MF holdings account for a minuscule portion of his total assets of Rs 35.4 crore. Defence Minister Rajnath Singh, Finance Minister Nirmala Sitharaman and External Affairs Minister S Jaishankar have no exposure to the stock market, and they have seen only marginal increase in their net worths. While the value of Sitharaman's assets were almost unchanged from Rs 1.4 crore in her FY20 disclosure, Defence Minister Rajnath Singh's total assets fell marginally from Rs 5.21 crore to Rs 4.93 crore. And, finally, the latest declaration made by Prime Minister Narendra Modi shows his net worth as of March 31 at Rs 3.07 crore. This is up by nearly Rs 22 lakh from Rs 2.85 crore last year which is a jump of 7%. PM Modi has no stock market or mutual fund investments. His assets have mainly increased due to receipts from bank fixed deposits.

With less than six months for Uttar Pradesh to head to polls, the Bhartiya Janta Party seems to be checking all the boxes in its state Cabinet to ensure a victory. On Sunday, 26 September, UP Chief Minister Yogi Adityanath expanded his Cabinet with seven new faces, with the most prominent being that of former Congress leader Jitin Prasada, who was given a Cabinet berth. The UP Cabinet has now been stretched to 60, the maximum allowed constitutionally. Prasada, who jumped ship from the grand old party earlier this year in June, will reportedly help consolidate the Brahmin vote bank for the BJP.  Aside from Prasada, Sunday's Cabinet expansion also included Chhatarpal Gangwar, Paltu Ram, Sangeeta Balwant, Sanjeev Kumar, Dinesh Khatik and Dharam Veer Prajapati, who belong to the OBC, SC and ST community, and will all join as ministers of state. The new Cabinet also signals a clear exercise of social engineering, with the BJP trying to woo the Brahmin vote with the inclusion of Prasada and giving more representation to Dalits and OBC's in the UP Cabinet. It also mirrors the same social engineering tactics made in the recent Union Cabinet reshuffle in July. But the big question is whether this social engineering – just months away from elections – work in the BJP's favour?  Host and Producer: Himmat Shaligram Guest: Amitabh Tiwari, Political Analyst. Editor: Shelly Walia Music: Big Bang Fuzz Listen to The Big Story podcast on: Apple: https://apple.co/2AYdLIl Saavn: http://bit.ly/2oix78C Google Podcasts: http://bit.ly/2ntMV7S Spotify: https://spoti.fi/2IyLAUQ Deezer: http://bit.ly/2Vrf5Ng Castbox: http://bit.ly/2VqZ9ur

Within days of the Union Cabinet clearing a telecom relief package, Vodafone Idea CEO and MD Ravinder Takkar told Aneesh Phadnis & Nivedita Mookerji that the question mark over a third private player is a thing of the past now. Also, funding can come from new investors, existing promoters or a mix of both, said Takkar. Listen To The Podcast

The consolidation theme played out on the benchmark indices for the second day on Wednesday as both Sensex and Nifty declined marginally amid profit-taking in IT and auto names and a cautious global market setup. That said, the quantum of losses remained low with investors lapping up beaten-down private bank stocks. Overall, strong buying in the broader indices kept the market breadth positive. The BSE Midcap and BSE Smallcap indices rose after a one-day hiatus, with the former hitting a new high in intra-day deals. It closed 0.81 per cent higher while the smallcap index gained 0.55 per cent. At the benchmark level, the flagship Sensex shed 29 points to end at 58,250. In the 30-pack index, 15 stocks closed in the green and 15 in the red. Kotak Bank, Titan, NTPC and Sun Pharma were the top gainers, up between 1-3 per cent. On the other hand, Nestle India, Maruti Suzuki, Bajaj Finance and Bajaj Auto were the biggest losers. In the sectoral space on NSE, Nifty IT, Media and Auto declined the most. Bank and financial-oriented sectors along with Nifty Metal gained. Stocks from the textile and telecom sectors were in focus in today's session amid a Union Cabinet meeting. The cabinet approved a Rs 10,683 crore PLI scheme for the textile sector. PLI scheme for textiles is part of the overall announcement of the scheme for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore. Incentives worth Rs 10,683 crore will be provided over 5 years. This gave a leg-up to the textile stocks, with some rising as much as 12 per cent. On the other hand, the rally in telecom stocks amid hopes that the government will announce a relief package for the sector fizzled out as a Reuters report said the Union cabinet did not take up the said proposal. The cabinet was widely expected to take a decision on a so-called relief package for the telecoms industry, which would have helped all wireless carriers but especially the embattled Vodafone Idea. Following this, the stock slipped 15 per cent from day's high to end 3 per cent down at Rs 8 per share. Bharti Airtel also came off all-time high levels to end in the red. Among other stocks, shares of APL Apollo Tubes were in demand as they rose 5 per cent to Rs 1845 ahead of the 1:1 bonus share issue. They touched a new high of Rs 1875 in trade today. Info Edge rallied 9 per cent to end at Rs 6720, after touching an all-time high of Rs 6748, amid hopes of a strong growth outlook and likely windfall from policybazaar.com IPO. The company holds a 14 per cent stake in the company that has recently filed DRHP with Sebi. Meanwhile, in other news, equity mutual funds attracted a little over Rs 8,666 crore in August, making it the sixth consecutive monthly net inflow, on staggering investment in flexi-cap category. In comparison, such funds witnessed a net inflow on Rs 22,583 crore in July on huge investments in flexi-cap category, data from the Association of Mutual Funds in India showed. Now, going into trade on Thursday, we can expect the volatility to continue amid the weekly F&O expiry. Besides, Street will react to a host of global developments like the inflation print in China and ECB's decision setting meeting. Lastly, stock-specific triggers will continue to determine market moves.

The Union Cabinet has approved the amendment in the General Insurance Business (Nationalisation) Act, 1972 to facilitate privatisation of one general insurance company in the public sector. How would this impact the insurance space? Listen to this episode of News Explained by Shishir Sinha. --- Send in a voice message: https://anchor.fm/business-line/message

Gains in banking stocks and index heavyweight Reliance Industries helped BSE barometer Sensex snap its three-day losing run amid a firm global market setup. Meanwhile, a lower-than-expected rise in June retail inflation helped put stimulus pullback fears at ease which further supported market sentiment. The 30-pack index settled at 52,770, up 397 points or 0.76 per cent. While its NSE counterpart Nifty shut shop 120 points or 0.76 per cent higher at 15,812. In the Sensex kitty, nine stocks ended lower while 21 settled in the green, with ICICI Bank and HDFC twins contributing to over 50 per cent of total index gains. ICICI Bank, HDFC, Axis Bank and Sun Pharma were the top index gainers as they rose between 2-3 per cent. On the flip side, HCL Tech, DRL, Maruti and Tech Mahindra were the worst laggards. The broader markets underperformed benchmark in trade today as the BSE Midcap index ended near flatline, up 0.01 per cent, while BSE Smallcap index closed 0.46 per cent higher at 26,188.45, after hitting all-time high of 26263.03 intra-day session. Sectorally, Nifty Media, IT and FMCG indices ended in the red. Nifty Financial Services index, with a gain of 1.18 per cent was the best sectoral performer, followed by Nifty Private Bank index that jumped 1.38 per cent. On the stock-specific front, shares of Tanla Platforms closed 5 per cent higher on the BSE for the second day in a row at Rs 930.55 after the company announced its board will consider buyback of equity shares of the company in their forthcoming board meeting. Shares of SBI Life Insurance scaled fresh all-time high of Rs 1,056 in Tuesday's session. The scrip finally ended the day at Rs 1054.15, up 1.95 per cent. NMDC jumped 3.80 per cent to close at Rs 172.05 after the company board approved the demerger of the steel business. Going into trade on Wednesday, the action could shift to the primary market as Zomato's Rs 9,350 crore initial public offer (IPO) would hit the Street. Besides, WPI inflation data and Union Cabinet meeting will also remain on investor radar. Lastly, the earnings announcement by index major Infosys will also be keenly watched out for. The IT major is expected to post a robust Q1 show, with PAT likely to rise 27-30 per cent on YoY basis. Furthermore, Infosys could hike its FY22 revenue guidance, believe analysts. Analysts believe that Q1FY22 earnings show could guide market trajectory ahead that has turned rangebound of late. Meanwhile, Sanjay Mookim, head of India equity research at JPMorgan warned that as business activity resumes following one of the world's deadliest coronavirus outbreaks, consensus earnings estimates may end up being overdone, a risk for the Indian equities that have been in a linear path since last year.

With two and half more years remaining in PM Modi's second term, the Union cabinet got a major reshuffle on 7 July. While 12 heavyweights including Health Minister Harsh Vardhan, IT Minister Ravi Shankar Prasad, Education Minister Ramesh Pokhriyal and I&B Minister Prakash Javadekar were left out of the new cabinet, 43 new ministers were sworn in. But not all of them are fresh faces. Seven junior ministers including Kiren Rijiju, Anurag Thakur, Hardeep Singh Puri, Mansukh Mandaviya got promoted in this rejig. In fact, the crucial Health ministry went to Mandaviya amid a severe criticism of the government's mishandling of the second wave of Covid and vaccination shortages in the country while the Law Ministry went to Rijiju. Home Minister Amit Shah has taken over additional charge of the new Ministry of Co-operation, while PM Modi will himself be monitoring the Ministry of Science & Technology. Looking at the new appointments, the Union Cabinet now has 27 ministers who belong to the OBC category, 12 Ministers belonging to the Scheduled Castes, eight from the Scheduled Tribes, 11 women Ministers, and the highest representation of the northeastern states under the Modi regime. While the opposition says that the reshuffle is an admission of the Modi government's failure, what is the Modi government really aiming at with this move? Is it to be viewed as corrective measures, or is it focused on elections? Tune in! Producer and Host: Shorbori Purkayastha Guests: Nilanjan Mukhopadhyay, Senior Journalist Editor: Aditya Menon References: Cabinet Expansion Comes Down to 4 Points & 1 Question – Will Anything Change? Modi's New Cabinet: Historic Reshuffle or Mere Damage Control? Music: Big Bang Fuzz Listen to The Big Story podcast on: Apple: https://apple.co/2AYdLIl Saavn: http://bit.ly/2oix78C Google Podcasts: http://bit.ly/2ntMV7S Spotify: https://spoti.fi/2IyLAUQ Deezer: http://bit.ly/2Vrf5Ng

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Modi government is expected to reshuffle the Union Cabinet today, PDP says it won't meet J&K delimitation panel, Centre warns against ‘revenge travellers' & other top news in this bulletin

the Union Cabinet has approved the new National Education Policy (NEP), 2020 with an aim to introduce several changes in the Indian education system - from the school to college level. The NEP 2020 aims at making “India a global knowledge superpower”. The Cabinet has also approved the renaming of the Ministry of Human Resource Development to the Ministry of Education. The NEP cleared by the Cabinet is only the third major revamp of the framework of education in India since independence. The two earlier education policies were brought in 1968 and 1986. Follow my telegram channel - https://t.me/aspirantvoice. Speak to me here - https://anchor.fm/aspirant-voice/message. Do follow me on Twitter- https://twitter.com/smurali236?s=09 , Facebook - https://www.facebook.com/Aspirantvoiceupsc/ , Instagram- https://instagram.com/aspirant_voice_upsc?utm_medium=copy_link --- Send in a voice message: https://anchor.fm/aspirant-voice/message

In this episode, find out finance ministry is asking for vaccinating 70 crore people by September, why US traders are awaiting the inflation report Business Term of the Day: Minimum Support Price

In your evening news brief, Supreme Court stays order imposing "complete lockdown" in five UP cities; Rahul Gandhi tests positive for Covid-19; J&J seeks permission for phase-3 trial of its single-shot Covid-19 vaccine in India, import licence and Union Cabinet approves Bangalore Metro Rail Project phase 2A, 2B Download the Deccan Herald app for iOS devices here: https://apple.co/30eOFD6 For latest news and updates, log on to www.deccanherald.com Check out our e-paper www.deccanheraldepaper.com

In your evening news brief, Anyone above 45 years can get Covid-19 vaccine from April 1; BJP President J P Nadda says in Assam that the Citizenship Amendment Act (CAA) has been passed by the Parliament and will be implemented "in time" and a Bangladeshi court hands down death sentence to 14 Islamist militants for attempting to kill Prime Minister Sheikh Hasina ----------------- With the Covid-19 surging across India again, anyone above 45 years will now be able to get the Covid-19 vaccine from April 1, Union minster Prakash Javadekar said on Tuesday. Briefing reporters on the decisions taken by the Union Cabinet, he said even people without comorbidity and above the age of 45 years, can get vaccinated. He requested people entitled to get themselves registered to take the Covid-19 shot. ------------------ BJP President J P Nadda on Tuesday asserted that the Citizenship Amendment Act has been passed by the Parliament and will be implemented "in time". Nadda after releasing the party's manifesto for the Assam elections said that the law, (which does not find a mention in the manifesto), is a central legislation and the Congress claims that they will not allow its implementation in the state, if voted to power, may be either "due to their ignorance or they are trying to fool the people of the state". -------------------- A Bangladeshi court on Tuesday handed down death sentence to 14 Islamist militants for attempting to kill Prime Minister Sheikh Hasina at her southwestern constituency in 2000. All the convicts are operatives of outlawed Harkatul Jihad Bangladesh. Download the Deccan Herald app for iOS devices here: https://apple.co/30eOFD6 For latest news and updates, log on to www.deccanherald.com Check out our e-paper www.deccanheraldepaper.com

In your evening news brief, Union Cabinet approves Bill to set up a Development Finance Institution to generate funds for investment in the infrastructure sector; DMK chief M K Stalin vows unravel the 'mystery' behind the death of former CM J Jayalalithaa and New Delhi was the world's most polluted capital for the third straight year in 2020. Download the Deccan Herald app for iOS devices here: https://apple.co/30eOFD6 For latest news and updates, log on to www.deccanherald.com Check out our e-paper www.deccanheraldepaper.com

BJP workers clash with security personnel in West Bengal's Barrackpore after their 'Parivartan Yatra' was allegedly stopped by the personnel.Uttar Pradesh Prohibition of Unlawful Religious Conversion Bill, 2021 passed by the Legislative Assembly by voice vote.The Union Cabinet recommended President's Rule in Puducherry, days after the resignation of V Narayanasamy from his chief ministerial post. For more live news download Etv Bharat Download ETV Bharat on App store – https://apps.apple.com/in/app/etv-bharat/id1453416186 Play Store – https://play.google.com/store/apps/details?id=com.etvbharat.android Or watch us live on – www.etvbharat.com ETV Bharat is a Division of Ushodaya Enterprises Pvt. Ltd. , is a comprehensive digital national news platform conceived to deliver seamless news and information services, using video-centric Mobile App and Web Portals. It is first-of-its kind offering in India in terms of diversity and depth, dedicated journalists network, reach of 24 states with services in 13 languages i.e.– Hindi, Urdu, Telugu, Tamil, Kannada, Malayalam, Gujarati, Marathi, Bengali, Punjabi, Assamese, Odia and English. ETV Bharat is the latest initiative of the five-decade old multi-dimensional Ramoji Group. The Group's highly successful media endeavors include : Eenadu - one of the largely circulated language dailies in the country , and ETV Network with Telugu general entertainment, infotainment and news channels. With a strong lineage of the most trusted media house, ETV Bharat would draw on its strengths of decades' long experience and innovation. ETV Bharat will combine the new technologies of mobile and digital media to engage news and information seekers in a new connected world. It will be driven by well-established news gathering setup, technology specialists and other professionals.

In a press conference today, Union Minister Prakash Javadekar said that no party came forward to stake the claim to form a government in Puducherry after the resignation of the Chief Minister V Narayanasamy. Thus, Lieutenant Governor Tamilisai Soundararajan recommended President's Rule there and the Union Cabinet has approved the same. Anyway, the UT will go to polls this summer, and so the President's rule will not last for long. --- Send in a voice message: https://anchor.fm/business-line/message

In your evening news brief, From The Newsroom, government proposes to make significant changes to the three farm sector laws; Centre approves framework for the proliferation of public Wi-Fi networks through PM WANI scheme; As many as nine states have completed One Nation One Ration Card reform; Union Cabinet approves Rs 22,810 crore outlay for a new employment scheme; Kiran Mazumdar-Shaw says she will get vaccinated though its durability is not known as of now; Earth remains on course to warm more than 3 degrees Celsius and the head of Britain's medicine regulator says two allergic reactions were reported on the first day of the rollout of the Pfizer Covid-19 vaccine. Download the Deccan Herald app for iOS devices here: https://apple.co/30eOFD6 For latest news and updates, log on to www.deccanherald.com Check out our e-paper www.deccanheraldepaper.com

In your evening news brief, From The Newsroom, MHA issues Guidelines for Surveillance, Containment and Caution; government approves merger of Lakshmi Vilas Bank with DBS Bank India Ltd; West Bengal Chief Minister Mamata Banerjee dares BJP to arrest her; Union Cabinet approves equity infusion of Rs 6,000 crore in NIIF Debt Platform sponsored by National Investment and Infrastructure Fund; Malayalam feature "Jallikattu" selected as India's official entry for the International Feature Film category at the Oscars; Cyclone Nivar increased its speed and Congress leader Ahmed Patel no more. Download the Deccan Herald app for iOS devices here: https://apple.co/30eOFD6 For latest news and updates, log on to www.deccanherald.com Check out our e-paper www.deccanheraldepaper.com

The Union Cabinet has given its approval to introduce the Production-Linked Incentive (PLI) Scheme in the following 10 key sectors for Enhancing India's Manufacturing Capabilities and Enhancing Exports. For the scheme details please keep listening to the podcast.

This newsletter is really a weekly public policy thought-letter. While excellent newsletters on specific themes within public policy already exist, this thought-letter is about frameworks, mental models, and key ideas that will hopefully help you think about any public policy problem in imaginative ways. It seeks to answer just one question: how do I think about a particular public policy problem/solution?PS: If you enjoy listening instead of reading, we have this edition available as an audio narration courtesy the good folks at Ad-Auris. If you have any feedback, please send it to us.India Policy Watch #1: Production-Linked Incentives Insights on burning policy issues in India— Pranay KotasthaneProduction-Linked Incentives (PLI) — that’s the name the government’s recent, most-favourite industrial policy instrument goes by. It seems elegant on paper: the government will reward companies for incremental sales of manufactured goods with a subsidy. More the sales (either domestic or exports), more the subsidy amount. The intent seems sound too: encourage companies to up their manufacturing game. First introduced for the electronics sector earlier in the year, PLIs worth ₹2 lakh crore for ten disparate sectors over the next five years were announced by the Union Cabinet earlier this month. These sectors are automobiles and auto components, pharmaceutical drugs, advanced chemistry cells (ACC), capital goods, technology products, textile products, white goods, food products, telecom and specialty steel.Let’s assume that the size of the incentive is big enough to change companies’ investment decisions at the margin (that’s a big if). What are the consequences likely to be in that case? Can we anticipate some unintended consequences beforehand? Let’s parse this policy through the framework discussed in edition #48. Three unintended effects are possible:“Reasonable regulation drifts toward overregulation, especially if the costs of overregulation are not perceptible to those who bear them.” The PLI scheme for the electronics sector has specific eligibility criteria both on incremental investment and incremental sales a company needs to commit over the next five years. This is supposed to be cross-checked by a Project Management Agency (PMA), a government-body formed under the Ministry of Electronics and Information Technology (MeitY). The PMA will further submit its recommendations to an Empowered Committee (EC) composed of CEO NITI Aayog, Secretary Economic Affairs, Secretary Expenditure, Secretary MeitY, Secretary Revenue, Secretary DPIIT and DGFT which will make the final decision. The EC is also empowered to revise anything — subsidy rate, eligibility criteria, and target segments. In short, more bureaucracy and predictably unpredictable delays. The speed of incremental investments might get decided by the speed of government decision-making. EC’s powers to make any changes to this policy in the future is also filled with possibilities of regulation becoming overregulation. There’s one more gap. In order to increase innovation, the PLI scheme will not consider incremental investments towards land and buildings towards the eligibility criteria. Only investment towards plant, machinery, equipment, research, and development is allowed. This might incentivise companies to fudge their land dealings and for government officers verifying the real quantum of incremental investments to cut deals for themselves.“Moral hazard increases.” The ten sectors chosen by the government might see a crowding-in of investment at the cost of all other sectors. Are these ten industries strategic for India while others aren’t? I don’t quite know the basis of this selection.Next, every policy move has an associated opportunity cost. It’s a bane of Indian policymaking that policy decisions are rationalised solely by looking at projected benefits; by ignoring opportunity costs. In the context of PLIs, the government needs to pay up ₹2 lakh crore over the next five years to a few companies in these ten sectors. The government will most likely rake in this revenue in the form of taxes. Using the Kelkar/Shah Marginal Cost of Public Funds (MCPF) estimate for India of 3, the total cost to India from this subsidy would be of the order of ₹6 lakh crore. The scheme would make sense if the benefits are projected to be higher than this number. Whether an analysis of these costs has been taken into account, we don’t know.“Rent-seekers distort the program to serve their own interests”. Companies that benefit will seek to modify the eligibility criteria to suppress competition thus leading to more market concentration. They might even try to extend the sunset clause of this scheme in order to keep benefiting from the discount. These unintended consequences might substantially diminish the benefits that the PLI schemes are aiming at.What are the alternatives?Read this statement by the chairman of the India Cellular and Electronics Association (ICEA):“The disability stack runs deep in the economy. For example, the taxes on fuel. Second, electricity is not subsumed under GST (goods and services tax). So how do you become competitive?This is the key point. Perhaps PLIs are a much-needed band-aid solution for a wounded economy but it cannot transform manufacturing in India. Doing that would require consistent and simpler tax, policy, business, and trade environments. Improvements on these grounds will benefit all sectors and investments will follow sectors which show higher productivity. In other words, we’re still waiting for a reforms 2.0 agenda. India Policy Watch #2: The Many Hues Of CharismaInsights on burning policy issues in India— RSJThe recent Bihar election results confounded many. First, the consensus from multiple opinion and exit polls suggested a clear majority to the UPA. They got it wrong. Second, there was view the NDA coalition was going into the elections with a triple disadvantage – anti-incumbency, the particularly severe effect of lockdown on Bihari migrants and the disappointment among the youth about the economic progress in Bihar despite many years of promise. There was no regional face of the BJP to counter the rising popularity of Tejaswi Yadav. The pandemic also limited the ability of the NDA to field the PM and other star campaigners on the ground to mobilise the workers and make a case for their government. Despite such odds, the BJP had its best performance winning 74 seats out of the 121 it contested.   What explains this? Politics of VishwaasThere are multiple theses here. The decision of AIMIM to field candidates across the state ‘cut’ the Muslim vote bloc is one. That women voted overwhelmingly in favour of the BJP is the other. These might have played a role in the electoral arithmetic but at a macro level the win reaffirms the strength of what Neelanjan Sircar has called the ‘politics of vishwaas’. As Sarkar writes:“…is a form of personal politics in which voters prefer to centralize political power in a strong leader, and trust the leader to make good decisions for the polity – in contrast to the standard models of democratic accountability and issue-based politics.”Sircar suggests two factors leading to this:“First, like much of the world, there is an increasingly strong axis of conflict between those who believe in a unitary (Hindu) national identity for India and those who view India in ‘multicultural’ terms. This obliges supporters of Hindu nationalism to support political centralization to stymie federalism, which would require negotiation across regional, linguistic, caste, and religious identities. Second, the BJP’s control of media and communication with the voter, in tandem with a strong party machinery, give the party structural advantages in mobilizing voters around the messages of Narendra Modi.”Vishwaas apart, the Bihar win suggests voters aren’t yet disappointed with the absence of achhe din the PM had promised in 2014. The charisma of the PM endures, and he’s still seen as an outsider upending the established order and the elites. This is a remarkable feat of narrative-building where even missteps like demonetisation or the severe lockdown are judged on their intent instead of their outcomes. The ‘politics of vishwaas’ is anchored on the personal charisma of the PM. So, how should we think about this charisma? There are several ways. Cometh The HourFirst, leaders build their charismatic appeal on the back of a deeply felt need in the society for change. In the run-up to 2014 general elections, two distinct needs coalesced. One, the simmering discomfort about how the constitution and its institutions had over the years infringed on the personal domain of Hindu lives while staying away from those of minorities (termed appeasement by many). Two, the shambolic performance of UPA 2 on economy driven by transactional corruption and policy paralysis. All societies have inherent in them a set of core beliefs that in tandem with everyday issues of roti, kapda and makaan drive their choices and actions. Often, they are in opposition. Sometimes they coincide as they did in 2014. Despite the liberal and secular constitution project that aimed at engineering a social revolution in post-independent India, the core belief, however suppressed, among the majority was always guided by their religion. This suppressed belief found a credible voice in the persona of PM Modi. They saw in him an agent of change who will restore personal belief and faith above the liberal ideas of the constitution. Those ideas were never in sync with our society anyway. Therefore, so long as there are actions that suggest progress on this axis – CAA, revocation of Article 370 and building of the temple in Ayodhya – the relatively poor performance on roti, kapda, makaan issues will not matter. Even a raging pandemic and a 23% shrinking of the economy in Q1 hasn’t mattered. Charismatic leaders emerge in times of great need and so long as they deliver on their core promises (even those unstated but commonly understood), they will retain their hold on their followers. Max Weber in his classic ‘On Charisma And Institution Building’ explained this eloquently:“Charisma knows only inner determination and inner restraint. The holder of charisma seizes the task that is adequate for him and demands obedience and a following by virtue of his mission. His success determines whether he finds them. His charismatic claim breaks down if his mission is not recognised by those to whom he feels he has been sent. If they recognise him, he is their master – so long as he knows how to maintain their recognition through ‘proving’ himself. But he does not derive his ‘right’ from their will, in the manner of an election. Rather the reverse holds: it is the duty of those to whom he addresses his mission to recognise him as their charismatically qualified leader.”   Charisma Trumps Economic StructureThe somewhat forced reforms carried out by the PM in the last 18 months have challenged the status quo. The success of these reforms will depend on their implementation. The opposition has protested against a few of them especially the farm sector reforms. But barring pockets in Punjab and Haryana where the MSP economy looms large, there isn’t a groundswell of opinion against these reforms. Even the poorly thought-through reforms in labour and the swerve towards atmanirbhar Bharat have been difficult to counter. It is politically infeasible to defend the status quo while being in opposition. The ruling dispensation has taken on the mantle of change despite being in power for over 6 years. On the economy, the track record of this government is weak; yet PM Modi’s charisma stays above it. Pratap Bhanu Mehta writing in The Indian Express captures this well:“Despite economic headwinds, it has not been easy to use the economy as a point with which to attack the Modi government. It has still positioned itself as a breaker of the status quo. The opposition will have to think more intelligently about the political economy of protest to counter the new political economy of reform.”This is the unique feature of charisma. India Gandhi had it when she went about destroying the Indian economy to consolidate political gains in the early 70s. The mission of the charismatic leader subsumes everything else, even their glaring flaws. More so on economic matters. Weber had considered this in his ruminations on charisma and this is particularly applicable to the ‘fakir’ narrative that’s often associated with charismatic leaders in India: “In its economic sub-structure, as in everything else, charismatic domination is the very opposite of bureaucratic domination. If bureaucratic domination depends upon regular income, and hence at least a potiori on a money economy and money taxes, charisma lives in, thought not off, this world. This has to be properly understood. Frequently charisma quite deliberately shuns the possession of money and of pecuniary income per se… (charisma) always rejects as undignified any pecuniary gain that is methodical and rational. In general charisma rejects all rational economic conduct. ..In its purest form, charisma is never a source of private gains for its holders in the sense of economic exploitation by making of a deal. Nor is it a source of income in the form of pecuniary compensation, and just as little does it involve an orderly taxation for the material requirements of its mission. Pure charisma…. is the opposite of all ordered economy. It is the very force that disregards economy.” The Transfer Of CharismaThe primary challenge to a structure that’s based on charisma is in the determination of transfer of that authority. The transfer comes about through various means – bloodline (Nehru-Gandhi family), search (Dalai Lama), revelation (prophets) or through a new need for a change (Obama or Trump, PM Modi etc). The core question for BJP is what after 2024? Clearly, it’s difficult to see the PM continue for a third term after he turns 75. How will it transfer the charisma to an anointed successor? The work on it will begin soon. This won’t be easy. Because PM Modi hasn’t used his charisma to build institutions that will sustain it beyond his time. In his introduction to Weber’s Charisma and Institution Building, S.N. Eisenstadt writes: “… the test of any great charismatic leader lies not only in his ability to create a single event or great movement, but also in his ability to leave a continuous impact on an institutional structure – to transform any given institutional setting by infusing into it some of his charismatic vision, by investing the regular, orderly offices, or aspects of social organisations, with some of his charismatic qualities and aura.” This is where Nehru was a genius. For the opposition, the fact that Modi hasn’t been an institution builder in Nehru’s mould offers them their only ray of hope. That this charisma won’t transfer in the post-Modi polity. But till then the electorate will continue to confound pollsters.  HomeWorkReading and listening recommendations on public policy matters[Article] Economists Ila Patnaik and Radhika Pandey on Production-Linked Incentives (PLI) scheme. [Article] India’s defence financing crunch can’t be solved by the Ministry of Defence alone. Lt Gen Prakash Menon and Pranay explain what needs to be done. [Podcast] If Business-State relations interest you, listen to this Puliyabaazi with Rohit Chandra.[Article]: ‘Can Democracy Handle Charisma?’ Review of David Bell’s Men on Horseback by Ian Beacock in the New Republic.That’s all from us, folks. In case Indian subcontinent geopolitics interests you, tune in for this event in context of the recently concluded elections in Myanmar. Get on the email list at publicpolicy.substack.com

This newsletter is really a weekly public policy thought-letter. While excellent newsletters on specific themes within public policy already exist, this thought-letter is about frameworks, mental models, and key ideas that will hopefully help you think about any public policy problem in imaginative ways. It seeks to answer just one question: how do I think about a particular public policy problem/solution?PS: If you enjoy listening instead of reading, we have this edition available as an audio narration courtesy the good folks at Ad-Auris. If you have any feedback, please send it to us.India Policy Watch #1: 50 Years Of That Friedman NYT ArticleInsights on burning policy issues in India— RSJOn September 13, 1970, Milton Friedman wrote his famous piece on the social responsibility of business in The New York Times. The clarity of Friedman’s thinking and his powerful articulation of the doctrine of shareholder value maximisation has made it, arguably, the most influential business article of all time. Friedman scoffs at businesses talking of ‘social responsibility’ suggesting any attempt to do so will turn political that will force the individual to conform to the more general social interest. Who determines this social interest? In the hands of a dictator or a demagogue, this decision can be detrimental to society. It is a compelling article. I would suggest you read it before you dismiss it as free-market fundamentalism. Friedman concludes:“But the doctrine of “social responsibility” taken seriously would extend the scope of the political mechanism to every human activity. It does not differ in philosophy from the most explicitly collectivist doctrine. It differs only by professing to believe that collectivist ends can be attained without collectivist means. That is why, in my book “Capitalism and Freedom,” I have called it a “fundamentally subversive doctrine” in a free society, and have said that in such a society, there is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception fraud.”   Enduring AppealOver the years it has been attacked and its central message discredited in the light of the global financial crisis. Even businesses are reluctant these days to invoke shareholder value maximisation as their goal. There have been calls for societal value maximisation, stakeholder wealth creation and conscious capitalism to replace the Friedman doctrine. All good intentions aside, nothing has truly replaced it in how businesses operate. What explains its enduring appeal? Three reasons:A simple and measurable metric: The shareholder value maximisation goal is easy to set and monitor. It helps that there is a common understanding of the metric. The alternatives are amorphous. It is difficult to understand what does maximising societal value entail, for instance. Who will define what society wants? Are societal objectives of India and the US similar?Rewarding the risk takers: The shareholders invest risk capital in an enterprise. This willingness to take risk is what leads entrepreneurs to build new products, satisfy the consumers and create new jobs. The shareholders deserve the pursuit of maximum return by the firms for this risk they undertake. It is up to them what they do with these returns. They can invest it in newer enterprises or use it to improve the society as they deem fit. The management or anyone else should have no claim on how to invest the returns that belong to the shareholders.Shareholders are the residual claimants: Everyone who contributes to the value creation of an enterprise – the employees, the management team and the customers – get their fixed claim on the value through compensation for their efforts, stock options and the value derived from the products or services offered by the enterprise. Only when these fixed claimants are served well, the value for the residual claimant (the shareholder) is maximised. So, the pursuit of shareholder value will by itself serve the other stakeholders well.Rajan’s ReassessmentPromarket, a publication of the Stigler Centre at Chicago Booth School of Business, is marking the 50-year anniversary of the Friedman article with a debate on the social responsibility of business on its pages. Eminent academists like Oliver Hart, Luigi Zingales and Lucian Bebchuk have written with depth and intellect on the relevance of the Friedman doctrine in today’s times. This week Raghuram Rajan weighed in on the debate with an article titled “50 Years Later, It’s Time to Reassess”. Rajan takes a clear-eyed view on what has worked for the Friedman doctrine and where it is fraying. He repeats the usual points that we have listed above in favour of the doctrine. Additionally, he emphasises the political argument of Friedman for shareholder value maximisation that seems relevant in the current times when we are debating the enormous clout of big tech in our lives. Rajan writes:“Finally, Milton Friedman thought that there was a political argument for shareholder value maximization, which keeps the role of the government and the role of the corporation separate. He thought that was important because he felt that corporate social responsibility was a backdoor way for special interests to push what they could not get through Parliament and therefore make rules for the firm which they could not make through legislation. In some sense, this is a very important argument because it says that sometimes, these pressures can be anti-democratic rather than pro-democratic—that because you’re frustrated in Congress or in Parliament, you might try to push that stuff through the backdoor by directly targeting corporations.”    But Rajan believes this separation of business from politics that Friedman advocated has turned into its primary problem:“And that leads to what I think is the deepest problem with Milton Friedman: shareholder value maximization means completely turning a tin ear to politics. It sounds sinister. It sounds pro-rich. It sounds evil, even if it may be the right thing to do for society under many circumstances.”I’m not quite sure why something that sounds evil while it might be the “right thing to do for society” needs to change. There are many economic concepts that sound evil or counter-intuitive – efficient market mechanism, free trade, comparative advantage or Ricardian equivalence. They shouldn’t be discarded or changed because of it. Instead, they need to be explained better.But Rajan goes ahead proposing an alternative:“The alternative, in my view, is to maximize the value of long-term investors in the firm. This is different from the Business Roundtable statement, in that you can identify who these long-term stakeholders are. If you are a firm with a lot of impulse customers, they’re not your long-term investors—they come in and buy as they wish. If, however, you have long-term employees, they are long-term investors because their sweat equity is embedded in the firm. Similarly, shareholders, long-term debt holders, long-term suppliers, these are long-term stakeholders. A firm could say, when forced to choose between two stakeholders: I will choose the action that enhances the overall value of these stakeholders.”There is a problem with this formulation – how will you know from the start who will be a long-term investor? For Rajan, the ‘impulse customers’ aren’t long-term investors. But won’t the impulse customer of today be a firm’s long-term customer over time? A similar argument can be made for long-term shareholders or long-term suppliers. They all will have to start somewhere in developing a relationship with a firm. Also, how do you define the length of time that will qualify a relationship as long-term? Not surprisingly, this alternative to shareholder value suggested by Rajan meets the same fate as others. It sounds good on paper but fails to be specific.Rajan comes around to it by the end of his piece:“Corporate boards should take pride in the investors they stand for. Being nice to everyone is, however, infeasible, meaningless, and simply deflection. That is what I take away from Milton Friedman.”Friedman’s doctrine remains the most elegant and practical way for firms to pursue its objectives that deliver the most value to society. For Friedman, enterprises in a competitive market pursuing shareholder maximisation will do well for society. But a monopoly will have to do more. As he wrote:“The participant in a competitive market has no appreciable power to alter the exchange, he is hardly visible as a separate entity, hence it is hard to argue he has any ‘social responsibility.”“The monopolist is visible and has power. It is easy to argue that he should discharge his power not solely to further his own interest but to further socially desirable ends.”So, a firm operating in a competitive market is free to pursue shareholder value maximisation. The shareholders can define the value differently in today’s world that goes beyond monetary rewards. This could include the environment, sustainable growth, or social equity. But for Friedman, this can’t be imposed by others on the shareholders. The decision has to be that of the shareholders alone.A Framework a Week: What Made the US Enable China’s Rise?Tools for thinking public policy— Pranay KotasthaneThis question that has been bugging me over the last few months: what explains that the US — now single-mindedly focused on countering on PRC’s rise — aided and abetted the PRC’s rise in the first place? Despite its enormous intellectual horsepower, why wasn't the US able to anticipate and mount a response to the PRC challenge long before?As it turns out, an incumbent great power enabling the rise of its own future rival is not an anomaly. In fact, that’s the default case. At least that’s the core argument of an excellent book Over the Horizon: Time, Uncertainty, and the Rise of Great Powers by David Edelstein (You can read a top-notch book review by my colleague Aditya Ramanathan here). The book presents a framework that manages to explain the US-China relationship quite well.The core argument in Edelstein’s words is that:… uncertainty about the future reinforces the pressures on state leaders to focus on the short term. Leaders of existing great powers are disinclined to expend considerable resources on an uncertain long-term threat. When existing powers focus on the short term, mutually beneficial cooperation with rising powers becomes more likely. Conversely, the more state leaders become alerted to the potentially threatening long-term intentions of a rising power, the less likely cooperation in the short term with a rising great power becomes.This is a counter-intuitive proposition. Offensive realism theory argues that all that matters is relative power. Regardless of a rising power’s intentions, its rise is reason enough for an incumbent power to confront the contender as soon as possible. And yet, the empirical approach of declining powers has been quite the opposite. European powers cooperated with Bismarckian Germany, Britain capitulated to the American rise, European states, again, co-operated with Germany in the inter-war period, and finally, the US supported China’s entry to WTO and turned a blind eye to PRC’s aggressive actions and increasing capabilities for nearly fifteen years before executing a u-turn.The author argues that this divergence from theory can be explained by taking into account two more variables. Not just relative power, but perceived intentions, and time horizons of states together explain if a declining power will confront, co-operate, or compete with a rising power. The framework that brings together all this is shown below.When a rising power has a long-term focus and a declining power has a short-term focus, the two end up co-operating rather than contesting. This configuration occurs, for instance, when rising powers adopt a “hide our capacities and bide our time” approach. They focus on building long-term capabilities instead of attracting undue attention of the incumbent powers towards them. This is what PRC under Deng Xiaoping and Germany under Bismarck did. If successful, this strategy makes declining powers discount long-term threats and instead focus on short-term gains through co-operation. This is precisely what happened between the US and PRC after the Sino-Soviet split. PRC resisted overt provocation throughout the 80s and 90s, while the US companies and consumers benefited from PRC’s manufacturing prowess. By 2010, PRC’s time horizons changed. Its aggression towards its neighbours signalled that it was now focused on consolidating its position in the short-term. Meanwhile, the US was still focused on the short-term horizon. The aftereffects of 9/11 still loomed large, and the US strategic thinking was preoccupied with other issues — Iraq, Afghanistan, Russia, and Iran. The result was a mixture of skirmishes and pragmatic cooperation between the US and PRC.By 2016, PRC’s continuing arrogance against its neighbours, the BRI ambition, attempts at influencing politics in countries such as Australia, and rapid buildup of technological power meant that the US was forced to extend its time horizon and look at PRC as a structural adversary. The result is that we are heading towards a preventive “war” — a scenario where the US is confronting PRC directly and provocatively not by force (yet) but in trade and technology domains. This framework also explains that a preventive “war” scenario is not inevitable. If there is a rethink in PRC’s approach, a shift to either of the remaining three quadrants is possible. With Xi Jinping at the helm, it looks unlikely though. Despite the perception that PRC thinks long-term, Xi is operating with an extremely short-term time horizon and inviting pushbacks from a host of countries as a result.India Policy Watch #2: No Looking Back On Agriculture ReformsInsights on burning policy issues in India —RSJThe Lok Sabha passed three bills relating to agriculture this week. These bills replace the existing ordinances that came into effect in June. These bills are part of the agriculture reforms package that was unveiled by the FM in May this year. The bills will now be tabled in the Rajya Sabha on Sunday. These reforms were long due. Despite the obvious failures of the state in the farming sector, successive governments balked at reforms. The entrenched ‘aristocracy’ of rich farmers, commission agents and farmer leaders thwarted all attempts. This time is different. For once the numerical advantage of this government and the political capital of the PM are being put to use for structural reforms that will serve us well in the long-term. The small and marginal farmers have suffered under the benevolent tyranny of the state. These reforms will liberate the sector. Yet, there is a minor political storm brewing. Shiromani Akali Dal (SAD), a long-time ally of BJP in the state of Punjab, has opposed the legislations. On Thursday, its lone representative in the Union Cabinet, Harsimrat Kaur Badal, resigned. The SAD leader, Sukhbir Singh Badal, spoke against the bill in Lok Sabha:“These bills have many provisions that go against farmers’ interests. We have repeatedly asked the government that please address the apprehensions of farmers, but the government had done nothing. Therefore, I oppose these bills.”There are farmer protests in Punjab and Haryana against the bills. There is a possibility it could spread to other states. The usual bogey of capitalists and big businesses is being brought up. This is a government that’s especially sensitive to this kind of criticism. We hope it stays the course and uses its formidable skill in setting the narrative to sell these reforms to the farming community. Farmers Aren’t FreeThe reasons for the protests are instructive in understanding why critical reforms in any sector in India remain difficult to implement. A vocal minority that stands to lose the most has organized itself to protest while the majority for whom the benefits are diffused is silent. To understand the reforms, it is important to understand the ‘unconstitutionality’ of the current system:Farmers can only sell their produce at the state APMC registered mandis. There is no freedom to sell produce outside of the mandis. There’s no freedom to conduct inter-state trade for the farmers. There is only a single buyer – the state. There is no competition. The state sets the price of the produce. The state has its approved ‘middlemen’ to facilitate the process of buying from the farmers. Since the farmers are often small and poor, their ability to reach the mandi, to negotiate the byzantine paperwork of license fees and commission, and store their produce is limited. There’s a long chain of small and big traders and commission agents who fill in to provide these services. This is a deeply entrenched cartel that buys low from the farmers and bids up the price to the wholesaler. The farmers are at their mercy while the end consumers pay for the cartelisation. The evergreen anecdote of farmers making Rs. 2 for every kilo of onions they grow while the consumers shelling Rs. 80 a kilo is a result of this. There’s no freedom for the farmer to sell their labour for a price through a contract. This is a freedom guaranteed by the constitution to every citizen. Except the farmer. So, small and marginal farmers can’t enter into contracts with private buyers of farm produce to aggregate their produce and sell it a pre-determined price. There are restrictions on how much stock of ‘essential commodities’ can be held by farmer or a trader. The essential commodities include cereals, potatoes, onions, oilseeds and pulses. So, the market mechanism of stabilising price through supply management and storage isn’t available. There’s no incentive for players to set up modern warehouses and cold supply chains for these commodities. The result is frequent price fluctuations and criminal wastage of food. The Sum Of All Good IntentionsThe dismal state of Indian agriculture bears no repetition. The farm income growth has been stagnant for the last 6 years. The small and marginal farmers who constitute 86 per cent of India’s peasantry barely make a living out of farming with average per capita annual income below Rs. 100,000. About 45 farmers die by suicide on an average every day. The Food Corporation of India (FCI) buys the produce at the minimum support prices (MSP) from the mandis and distributes it at a subsidised rate through the public distribution system (PDS). This subsidy bill has grown to unmanageable level. The FCI borrows from National Small Savings Funds (NSSF) to keep its operations going. It is estimated this loan will rise to Rs. 3.5 lakh crores in FY ‘21 from Rs. 2.5 lakh crores in FY ’20. Millions of ordinary Indians trust NSSF with their lifelong savings. It is anybody’s guess when FCI will be able to pay back NSSF. If this appears like a giant Ponzi scheme, that’s what it is. The food grains stocked at FCI are at an all-time high but there’s no market mechanism for its distribution when people needed it the most during the pandemic. They had to wait for the largesse of the state for the stored grains to reach them. This is a broken system. Even if you set out to create a dysfunctional system, you’d have struggled to reach here.Who in their right minds would want this structure to continue? Who has it helped except entrenched cartels and a few dynasties of ‘farmer leaders’ who have built a system of patronage? It is the established rural structures that’s protesting. That doesn’t want to let go. They must be ignored. How We Got Here?The obvious question that comes up is why did we opt for such a system? The answer is that old Voldemort of all public policy choices in India – good intentions. The colonial powers had systematically exploited Indian farmers to the point of destitution. Nehru was taken in by Fabian socialism that was in fashion during that time. His first visit to USSR in 1927 and the subsequent success of Stalin’s first five-year plan in state-controlled agriculture strengthened his views. Then there was the 1943 Bengal famine. The political and cultural impact of the famine still persists. A large part of our permanent suspicion of private capital and markets can be traced to the famine and the perception of how rich traders and merchants hoarded food grains and profiteered while millions died of starvation. The plays, songs and films of the Indian People’s Theatre Association (IPTA) left a deep imprint in our popular culture about the apathy of capitalism. This informed our public debate and politics in a manner where the economic right was forever tainted with the colonial anti-poor and anti-farmer philosophy. That’s why there was no trace of the market mechanism when laws for the farm sector were drafted after independence.Sen On FamineIt is worth taking a short detour on famines here. Amartya Sen’s famous work on Bengal famine blamed the lack of accountability of the colonial government that didn’t have to face elections as the primary reason for the starvation deaths. His insight was simple and profound. Famines aren’t a food availability problem. They are ‘entitlement failures’ that can happen with even minor imbalances of production or some unintended effects of government policy. Sen defined entitlement as:“The set of alternative commodity bundles that a person can command in a society using the totality of rights and opportunities that he or she faces.”The entitlement set is the range of goods and services she can acquire by exchanging or converting her resources or labour. In famines, these entitlement sets fail to provide her food in exchange thus setting in starvation. In case of Bengal famine, the proximate cause of entitlement failure was the inflation caused by the WW2 where the food prices rose by 300 per cent while farm wages rose by 30 per cent. This failure was exacerbated by the refusal on part of the colonial government to freely distribute food grains that were available in abundance. We haven’t moved too far away from that reality today despite the best intentions of the state to help farmers. Stay The CourseNotwithstanding the obvious failures of our agriculture policies and the relative success of the market mechanism in other sectors, we raise the spectre of capitalists and big businesses harming our farmers whenever efforts at structural reforms are discussed. The farmers have been for long in the grip of the predatory state. These reforms will empower farmers. The government must ride over the resistance and set the farmers free.    Addendum— Pranay KotasthaneAny reform that is even remotely seen to impact the MSP gravy train is bound to face opposition from a host of incumbent beneficiaries. One, the farmers growing the 22 crops backed by the MSP. Two, the traders getting a percentage of the MSP. And three, the state governments making money by charging hefty commissions for the sale of produce at APMCs. None of this is surprising.That apart, there are at least two other critiques that merit serious attention.The timing critique. Agriculture in India is a sob story even in the best of times. And here we are, in the midst of an unprecedented supply and demand shock caused by COVID-19. So any reform that might remotely lead to lower incomes because of a dilution of the MSP promise is bound to face the question: why now? Can’t the cognitive maps of those losing out be aligned to absorb the short-term losses? The credibility critique. It’s tough to take a government seriously that claims it is liberating farmers even as it has no qualms in banning onion exports simultaneously. The fact that these legislations say nothing about the impact on the existing procurement price mechanisms has led to suspicions about government intentions. As Mekhala Krishnamurthy writes in The Print:..instead of building up the confidence to develop a comprehensive framework for agricultural reform for these states, with a credible time horizon and coordinated support for farmers, the position on agricultural reforms has become further vitiated and volatile. Even if the three farm sector Bills do not directly legislate on MSP and procurement policy, it is simply not tenable to spearhead major national reforms in agricultural markets in India without making room for detailed deliberations on the future of where and how price support and procurement policies fit in. Moreover, not having taken state governments into confidence calls into question the implementation credibility of these legislations.So, what remains to be seen is how the government signals credibility amidst an economic crisis for a long-pending reform. This story is not over, not just yet.HomeWorkReading and listening recommendations on public policy matters[Article] Oliver Hart in Promarket on ‘How Shareholders Don’t Always Want To Maximize Shareholder Value’. [Article] Ashok Gulati in The Indian Express on why this is a 1991 moment for agriculture.[Podcast] We have an All Things Policy episode on Opportunity Cost neglect in Public Policy.[Paper] Dani Rodrik and Stephen Walt present their vision of the future world order.That’s all for this weekend. Read and share. Get on the email list at publicpolicy.substack.com

Harsimrat Kaur Badal has resigned from the Union Cabinet, Air India's planned sale may be deferred by up to three years, Pakistan plans to make Gilgit-Baltistan the country's fifth province& other top stories in your morning news bulletin.

Jammu and Kashmir Official Languages Bill 2020

The new National Education Policy (NEP), approved by the Union Cabinet last week, seeks to align itself with the Sustainable Development Goal of ensuring inclusive and equitable quality education for all in the next 20 years. The policy has brought into its ambit children in the age group of 3 to 18 years. There are concerns that the policy abandons the state's commitments under the RTE Act. Additional Reading: The Hindu Explains | What has the National Education Policy 2020 proposed? Guests: Leena Chandran Wadia, senior consultant in the Kasturirangan Committee. Anita Rampal, former Dean, Faculty of Education, at Delhi University. Host: D. Suresh Kumar, Deputy Resident Editor, The Hindu

1. Epidemic Diseases Act amended: Attacking medics can cost up to 7 years in jail - In a significant move, the Union Cabinet on Wednesday amended the Epidemic Diseases Act, 1987 through an ordinance in order to ensure safety of health workers at a time when there has been a spate of attacks on them. Any violence against health workers may now bring steep fines and even imprisonments of up to seven years. 2. Inter-district movement allowed for three days in Assam; Call 104 for permission - Subject to Ministry of Home Affairs guidelines, the Deputy Commissioners in Assam can allow the inter-district movement of certain categories of people stranded across the State, for three days – April 25, 26 and 27. According to State Health Minister Himanta Biswa Sarma, the Deputy Commissioners are the sole authority to grant permission for such movement of people. 3. Waive 50% fees for April: State Education Department to private schools - The State Education Department has said that the private schools in the State will have to waive 50 per cent of fees for the month of April, 2020; and also that such institutions cannot hike fees without approval from the department. 4. Tezpur Central Jail inmates donate to Assam Arogya Nidhi - In a bid to fight against COVID-19, the Superintendent of Tezpur Central Jail, Mrinmoy Dawka handed over an amount of Rs 12,000 on behalf of all convicts of Tezpur Central Jail. The convicts donated their one day's wages to the Assam Arogya Nidhi through the Deputy Commissioner of Sonitpur. 5. Online initiatives undertaken for students in Lakhimpur - The Lakhimpur District Education Department has come up with some policies in order to carry on the teaching-learning activities for the benefit of the students' community during the lockdown period. In this regard, while inquired, Lakhimpur District Inspector of Schools, Mridul Kumar Nath informed The Sentinel that various activities had been carried out in the district in order to continue the learning opportunities of students during the lockdown period. 6. Mob lynches two youths at Aathiyabari near Barpeta Road - Two brothers – Biswajit Das and Haradhon Arya alias Heba -were allegedly killed brutally by miscreants at Aathiyabari under Simlaguri police station near Barpeta Road on Wednesday. The brothers were imprisoned a few days ago for attacking some people without any reason. They were in Nalbari Jail but due to the lockdown they were released. 7. Coronavirus outbreak: Essential items distributed by many NGO - Amid nationwide lockdown in the wake of COVID-19 outbreak, a frontline NGO of Tezpur, Bhoomi distributed food packets to 25 poor daily wage worker families at Chandmari area under Lalmati Outpost recently. The programme was initiated by secretary of Bhoomi, Dip Kumar Kalita, member Parwaj Banu, Ranjit Barua, advisor of Bhoomi, Dr Pradip Kumar Lahkar and others. 8. SAGMDJP in charge president Ismail Ali registered FIR against professor - The Sadou Asom Goria-Moria-Deshi Jatiya Parishad, Guwahati City Committee in charge president Ismail Ali has registered a case against a female professor, on Wednesday. According to reports, the professor had uploaded a few lines from noted literature Syed Abdul Malik's poem “Moi Axomiya” into her social media handle and alleged the latter of being a ‘pro-Mughal and attacker of Assam'. Responding to the professor's statements, Ali has registered a case against her at Hatigaon Police Station.

1. Nizamuddin Markaz Participants: Report for test or face action, warns Assam Police - The Assam Police, on Monday, appealed to those who either attended the religious congregation at Nizamuddin Markaz in West Delhi or visited a State or country affected by novel, to immediately report at the nearest hospital or Primary Health Centre (PHC) by 6 am on Tuesday (April 7). 2. State Government Release Rs 4.70 crore As initial relief for agriculture farmers - The State government will release an initial amount of Rs 4.70 crore for the agriculture farmers affected during the lockdown so that they can go for small-scale farming at least on their respective household farming patches. 3. Non-Hotspot Areas: PM Narendra Modi for graded plan to slowly open departments - Prime Minister Narendra Modi has at hinted at partial lifting of on-going nationwide lockdown, imposed to contain the novel coronavirus pandemic, after April 14,2020. He said on Monday that a graded plan to slowly open departments should be made where hotspots do not exist. Addressing a meeting of the Council of Ministers, PM Modi indicated that a graded opening up of the lockdown will be initiated. 4. Union Cabinet: 30% salary cut for MPs; MPLADS suspended - The Union Cabinet on Monday approved an ordinance amending the Salary, Allowances and Pension of Members of Parliament Act, 1954 to reduce allowances and pension by 30% with effect from April 1, for a year, apparently to tackle the economic crisis due to the lockdown, imposed by the Union Government to check the spread of novel coronavirus pandemic. 5. Coronavirus: One more tests positive in Assam, total reaches 27 - One more people has tested positive for coronavirus in Assam, reaching the state's total to 27 so far. Announcing this Health Minister Himanta Biswa Sarma has said on Tuesday the latest case is detected in Dhubri. 6. State level committee constituted to take care of vegetable supply in Assam: Ag Minister Atul Bora - State level committee constituted to take care of vegetable supply and essential food in Assam due to the on-going nationwide lockdown. Agriculture Minister Atul Bora in a press conference said this, on Monday. He added, “Rs 4,70,00,000 has already been given for the benefit of farmers.” 7. Entry passes for stranded people: Health Minister Himanta Biswa Sarma - Thousands of people from Assam are stranded in other States. When the lockdown will be withdrawn, such people will rush to the State in hordes. Since every such person has to be quarantined for 14 days, the available arrangements for quarantine in the State may be out of sync with the rush of people. To avoid such a situation, the State government is going to issue entry date-specific temporary documents in line with ILP (Inner Line Permits) to such people after the lockdown is withdrawn. 8. Assam Gramin Vikash Bank donates Rs. 10 lakh to Assam Arogya Nidhi - Assam Gramin Vikash Bank donated Rs. 10 lakhs to the Assam Arogya Nidhi on Monday as its commitment to stand by the people of Assam in their fight against novel coronavirus pandemic. The cheque of the said amount was handed over to Dr. Himanta Biswa Sarma, Assam Minister for Finance, Health and Family Welfare, PWD, Education, etc, by the Chairman of the Bank, Upendra Sabar at the office of National Health Mission, Guwahati. 9. Dispur committed to check Assam fake news about Coronavirus - Assam Government is gearing up for checking fake news about the novel coronavirus pandemic. As a part of it Media Advisor to the Chief Minister Sarbananda Sonowal, Hrishikesh Goswami on Monday reviewed steps and measures taken by the Directorate of Information and Public Relations, Assam to check fake news.

The Union Cabinet has cleared the way for the updation of the National Population Register from April next year. Though the government was quick to state that the NPR is not related to the National Register of Citizens (NRC) there are still questions over the process through which the former will be compiled and the information that will be sought. Could the NPR then, be a precursor to a national NRC. This podcast looks at the link between the Census, NPR, NRC and finally the Citizenship Amendment Bill. Guest: K Venkataramanan, Associate Editor, The Hindu