Courtesy: Ministry of Finance/GoI
If Budget 2014 is used as a reference point to examine how closely the Modi government kept to its election promises, it is evidently not easy to extirpate the old ways of doing business. This is clear, for example, in the punitive capital gains tax rate on debt mutual funds. Budget 2015 must correct the anomalies
Courtesy: Wikimedia\commons
Squabbling over Afghan election results still continues but the collapse of the process has been averted for now. More than 700 international election observers are in Kabul ready to conduct the 100% audit of the Afghan runoff election. India has always supported a peaceful transition but the situation in Kabul remains as unpredictable as ever
Courtesy: MEA\photogallery
Much was made of the ‘incredible possibilities’ for India-U.S. ties preceding John Kerry’s visit to India. The American emphasis on rhetoric touched a new high when Kerry formally invited Indian PM Modi to Washington in September. The two sides must now get beyond words to work towards a resolution of differences for the bilateral to blossom
Courtesy: Ministry of External Affairs
The 5th India-U.S. Strategic Dialogue was an effort to reverse the downward spiral in bilateral ties, and an opportunity for the two countries to get a realistic assessment of each other. Clearly given the range of differences on issues such as trade, tariffs and price controls, there is still plenty of work to be done
Courtesy: UNHRC
Apart from supporting the UN resolution for a probe into Israel’s offensive on Gaza, India has chosen to distance itself from the crisis. It’s a stance that is in line with the position successive governments in India have adopted since the early 90s keeping the country's wider strategic interests in mind.
Courtesy: Wikimedia\Floyd Rosebridge
Cooperation in the energy sector offers a chance for India and the U.S. to build on a mutually beneficial and complementary relationship. The U.S. will gain from having a large, long-term market while India will benefit from cheaper and more diversified energy sources
Courtesy: Food Corporation of India
India's refusal to budge on food security has resulted in the World Trade Organization’s failure to reach the first multilateral trade agreement in the last two decades. Having taken a tough stand can India take the lead, among developing countries, in reframing the power equations of globalisation?
Courtesy: Rajya Sabha TV
Historically, India has supported the Palestinian cause but today, shares strong diplomatic relations with both West Bank and Tel Aviv. India's vote at the UNHRC has provoked much debate within the country as it marks a distinct shift in the government's stand from a few weeks ago when it was reluctant to even discuss the Gaza crisis in Parliament
Courtesy: MEA/Government of India
Looking back at the 2008 financial crisis, when governments had to resort to bail-outs to keep economies afloat, the BRICS member countries have decided to set up a New Development Bank which will provide for a contingency fund. This initiative aims at building an alternate financial structure in terms of trade among the member states as well as creating a safety net
Courtesy: U.S. Navy photo/Journalist 1st Class Todd Macdonald
India’s invitation and the subsequent participation of the Japanese navy in the Malabar 2014 exercise is a sign of the deepening of the political-security relationship between India and Japan. However, an actual fruition of the potential requires both the administrations to be more flexible, especially on the nuclear deal and defence purchases