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From the Editor-in-Chief

India Today Editor-in-Chief Aroon Purie on the ongoing power crisis in India - Issue Date: May 16, 2022

India , Ukraine , Haryana , Shwweta-punj , Narendra-modi , Anileshs-mahajan , Andhra-pradesh , Coal-india , Adani-power , Tata-power , Power-mess-

"We need to actually get this capital investment done and attain the fiscal deficit target": Finance Secretary

T.V. Somanathan on why the government has chosen to take the long road to recovery and its priorities going forward

India , Ukraine , Shwweta-punj , Ann-yojana , Sadak-yojana , India-today , Pradhan-mantri-gram-sadak-yojana , Garib-kalyan-ann , Tv-somanathan , Iscal-deficit-target ,

From the Editor-in-Chief

India Today Editor-in-Chief Aroon Purie on Omicron, the fastest-spreading Covid variant
yet, which is responsible for the global resurgence of the pandemic - Issue Date: Jan 24, 2022

India , Wuhan , Hubei , China , Greece , Greek , Sonali-acharjee , Shwweta-punj , Amarnathk-menon , Tedros-adhanom-ghebreyesus , Phi-beta-kappa-society , World-health-organization

For the economy, the worst is behind us: Finance Secretary Somanathan

Finance Secretary T.V. Somanathan shares the government’s vision to put the economy on the road to sustainable recovery after a year and a half of unremitting gloom - Issue Date: Nov 8, 2021

India , Shwweta-punj , Aatmanirbhar-bharat , Air-india , Deputy-editor-shwweta-punj , Priyanka-gandhi , Ttar-pradesh , Ongress-issue-date-nov-8 , 021 ,

From the Editor-in-Chief

From the Editor-in-Chief
indiatoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatoday.in Daily Mail and Mail on Sunday newspapers.

China , Uttar-pradesh , India , Bihar , Sonali-acharjee , Shwweta-punj , Nitish-kumar , Narendra-modi , Yogi-adityanath , Kaushik-deka , Indira-gandhi , National-population

"In 2022, the Telecom Network Will Start to Shift Into Space"

"In 2022, the Telecom Network Will Start to Shift Into Space"
origin-businesstoday.intoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from origin-businesstoday.intoday.in Daily Mail and Mail on Sunday newspapers.

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From the Editor-in-Chief

ISSUE DATE: December 28, 2020
UPDATED: December 18, 2020 23:41 IST
India Today magazine issue, December 28, 2020
In a move designed more to buttress her socialist credentials than for any compelling economic reason, Mrs Indira Gandhi nationalised 14 of India’s largest private banks, which held 85 per cent of the country’s deposits, in 1969. Over the years, these nationalised banks have deepened bank penetration in the rural hinterland and increased credit to agriculture, although some have argued that this could just as well have been achieved by exercising social control over private banks. Meanwhile, the collateral cost to the Indian economy has been enormous as it set in motion a gravy train on which politicians and crony businessmen have taken a free ride ever since. There have been loan melas where banks were forced to extend credit with little chance of recovery, thanks to electorally-dictated populist compulsions. Today, about 65 per cent of India’s banking sector (by deposits) is state-owned, and Indian banks were among the most unprofitable in the world in 2018-19. Run as political fiefdoms and with all the attendant inefficiencies of government-owned businesses, India’s public sector banks (PSBs) are giant black holes sucking in trillions of rupees of taxpayers’ money. The government has spent roughly Rs 3.5 lakh crore in recapitalising PSBs in the past few years. This is the entire outlay for the Jal Jeevan Mission, announced in August 2019 to provide piped drinking water to all households. This August, RBI’s annual reportsaid frauds cost banks Rs 1.86 lakh crore in FY20, of which PSBs accounted for 80 per cent. This figure is six times the government’s intended expense on women and child development. It’s a crying shame that the taxpayer should be bearing the cost of bank malfeasance when the money could be used for more meaningful purposes.

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