Dhankar delinquency; Stock market heated; South Korea gains age
Opinion Watch
Dhankar delinquency
The separation of power among the executive, legislature and judiciary in India is only an idea that ornaments the prose of the Indian democracy. Babus draft bills and legislature hurriedly turn them into laws. The Supreme Court exhibits relatively some separation of power. But the Narendra Modi government is in an overdrive to get a semblance of control over the judiciary by forcefully pushing for the revival of the National Judicial Appointment Commission. The power play between the Modi government and the apex court is currently taking place.
The Pioneer in its Editorial has called Vice President Jagdeep Dhankar’s unpalatable remarks against judiciary uncharacteristic, suggesting that the Chairman of the Rajya Sabha is still in the hangover of his gubernatorial theatrics in West Bengal. The daily pinpointed that Dhankar was rewarded with the high office because of his bellicosity. But his tribe is growing, as Arif Mohammad Khan in Kerala gives him the company, sated the daily, adding that Dhankar’s remarks that the undoing of the NJAC by the Supreme Court was a “severe compromise of the Parliamentary sovereignty and disregard of the people’s mandate”. Dhankar rides on a high entertainment quotient, for he may have dreamt that the people had given a mandate for the NJAC ever, and if his idea of Parliamentary sovereignty ever took shape even in the wildest of the dreams India may slip into the league of Pakistan and other thug countries.
Yet, judicial reform is indeed the need of the hour and that calls for freeing the judiciary completely of the executive interference which is seen in not creating adequate infrastructure, not filling up vacancies and clogging the judicial administration with plethora of government litigations, which are on account of there being excessive laws and many of them should be in the dustbins.
Stock market heated
The Indian stock market is at almost its peak, and The New Indian Express in its Editorial has advised caution to the retail investors. The Madurai-based daily has quoted a Morgan Stanley report to state that Sensex may go past 68,500 mark by December 2023, with indices gaining almost 10 per cent from hereon.
There are downside risks too, the daily quoted the report, noting the likelihood of the US recession and other macro-economic factors. The daily has also opined that the systematic investment plan (SIPs) have affected even sales of luxury cars such as Mercedes Benz in India, as retailers are rushing to the equity markets on a much larger scale. It also argued that the corporate profit to GDP ratio has declined in the last two quarters, while calling for caution.
The daily fails to touch all aspects of the issue, as it misses out on lack of investment opportunities for retailers, who have seen interest rates in small savings disappearing, as now even PPF gives a return of 7.10 per cent, which is maximum for any instrument. Also, the daily goes high on stoking fear, and refrains from etiquette of equity investment, which gives benefits only when compounding works over a long frame of time.
South Korea gains age
The 90s kids know the meaning of ‘two age’ – one official and another actual. Such kids were officially born in India on the last day of a month or on a day that came to the mind of the school teacher as he filled the forms before the matriculation examinations.
South Korea had a concept of counting the newborns as one year old, said The Indian Express in its Editorial, and that norm has been done away with, which has made the people in the East Asian economic giant a year or two younger.
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