The Rich Are Getting Richer, but the Poor Are Not Getting Poorer: T.V. Somanathan
Increasing consumption among the middle class and the poor in India is a valid policy challenge, the answer to which lies in creating more jobs, says T.V. Somanathan, finance secretary and secretary of expenditure in the Union Ministry of Finance. In an exclusive interview, he also discusses why the current income tax rates are reasonable and why he finds the 3% fiscal deficit target questionable among other issues. Edited excerpts:
Neeraj Thakur - February 29, 2024
CBAM Knots in India’s Textile Story
Months after the European Union launched the transitional phase of its Carbon Border Adjustment Mechanism, the textile sector, though not yet included in the target sectors, in India finds itself highly unprepared for the impact. From challenges posed by environmental compliance demands to rivals’ growth and slow governance support, the industry faces a complex fabric of issues
Ankita Mookherjee - February 01, 2024
Paytm Continues To Do Well In Merchant Device Deployment, UPI; Analyst Says Valuation Looks Attractive, Growth Will Be Sharper
Paytm recently announced its plans to strengthen its lending business to offer higher ticket personal and merchant loans, targeting lower risk and high credit worthy customers, in partnership with large banks and NBFCs.
December 12, 2023
Tata Steel Is the Original Make In India Story: T.V. Narendran
Tata Steel has become one of the leading steel manufacturers across the globe in the last 116 years. The company is hopeful of lasting another 100 years on the back of its multi-generational employees and a people-centric work culture. With clear focus and targets in sight, T.V. Narendran, chief executive officer and managing director of Tata Steel, explains how a large part of its future growth will take place in India due to the infra push of the government and its investment in future and sustainable technology
Suchetana Ray - July 28, 2023
Between Saffron And Green: Modi Man’s Moves In The Market
Every Adani group company is under stress after the Hindenburg Research targeted it, but the story of Gautam Adani’s green businesses is particularly tragic for a man who is a friend and businessman rolled into one
Abhishek Vasudev - March 29, 2023
‘There Is Nothing To Derail UP From Hitting $1 Trillion Target’
Awanish Awasthi, additional chief secretary, home department, elaborates on how the state has drawn up a firm blueprint to reach the target in the next five years
Suchetana Ray - August 28, 2022
India’s Maharatnas On ESG Path
A sound environment, social and governance performance of public sector undertakings is not only necessary for business reasons but also for India to achieve its national climate targets
Rajiv Tikoo - June 29, 2022
Waiting For Green Transition
While climate technologies are in place to help India achieve its 2030 decarbonisation targets, the country needs to invest in innovation and create green infrastructure to stay ahead
Rajiv Tikoo - June 29, 2022
Shades Of New Energy
As the world searches for new forms of clean energy to meet carbon emission cut targets, India does not want to miss the green hydrogen bus. Its two richest industrialists want to create independent ecosystems to produce the new fuel. What does this mean for India’s energy security and net-zero targets?
Suchetana Ray - May 28, 2022
May the salesforce be with you
McKinsey experts say that it’s time to prioritise and become value-creators from being target-chasers, by unlocking salesforce productivity
Michael Viertler - July 15, 2019