Caste Cauldron; Admitting Assad; Belting Bulls
Opinion Watch
Caste Cauldron
The Pioneer reminded Rahul Gandhi of the words of his father, late Rajiv Gandhi — “Let one man’s obstinacy not hold India hostage” – spoken in the Lok Sabha to the then Prime Minister VP Singh when he brought the Mandal Commission report for implementation. The daily in its Editorial has said that Congress’ demand for caste Census is fraught with danger.
The Indian Express too weighed in on the Opposition exigency to hang on to the Mandal politics, arguing that the ruling Bharatiya Janata Party has woven a bouquet of Mandal, Mandir, Mobile and Market for a much larger narrative. The Pioneer has said that Congress’ argument that welfare measures cannot be implemented without knowing castes is flawed.
The Opposition is at a crossroad. Congress is latching on regressive ideas – reviving Old Pension Scheme, unemployment allowances for two years, doubling foodgrains’ doleouts, etc. Congress should ask Manmohan Singh, former Prime Minister, who commissioned the Socio-Economic Caste Census, why was the caste data not released.
By the way Dainik Jagran conducted a field survey in 14 districts in Bihar and the people had just one question – what is for them to gain from the ongoing Caste Census. They also concurred – it’s a political stunt.
Admitting Assad
The Telegraph in its Editorial ‘Sands Shift’ has taken note of the fast-faced realignment in the Middle East – Syrian President Bashar al-Assad is now more a pariah, Syria expelled at the behest of Saudi Arabia from the Arab League now has the support of Riyadh to return to the group, Syria and Turkey are back on talking table, etc.
The Kolkata-based daily stated that the fast moving developments in the Middle East may not please the US, which had sought to outs Assad. It also stated that Russia is now playing an active role in brokering peace.
China principally with Russia support sprung a diplomatic coup against the US by bringing normalization of ties between Saudi Arabia and Iran, and that was certainly not a standalone project. The US is risking freezing its deep assets in the Arab World.
Belting Bulls
The Economic Times has said that the narrowing of the stock earning and bond yields could make equity investments attractive. It also stated that a declining dollar may provide cushion to the emerging markets such as India.
Yet, the daily cautioned that the case for a bull run is not made, because China with its interest rate cutting spree is seen to be a bigger attraction for the foreign portfolio investments. It noted that Chinese growth may direct the foreign fund flow to North Asia.
Reserve Bank of India gave a breather to the equity market with policy rate hike pause. The harvest season is witnessing Mandis brimming with grains, and the food inflation may sharply come down. The case for a bull run in the equity market, on the contrary, looks more plausible.
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