Union of discord
The Bharatiya Mazdoor Sangh (BMS), the labour wing of the RSS, is not going to be a part of the joint strike called by leading trade unions. This will be yet another instance where the BMS will stop short of staging a public protest over labour reforms and disinvestment, even though its 10-point charter of demands before the central government is similar to that of other trade unions. It appears the government is also working to create a divide in the alliance of trade unions by handpicking BMS for a “private” dialogue with finance minister Arun Jaitley and the ministries of law and personnel, among others.The crying game
Outgoing RBI governor Raghuram Rajan’s recent speech heralding better days for the economy has been received with incredulity and hope by India Inc. Rajan had said that risk aversion on lending by public sector bankers will end soon. Given that the RBI’s strong policy on dubious loans has led to a state of suspended animation, a corporate honcho was overheard wondering if Rajan was referring to a more lax lending regime, thanks to his term ending in early September. Rajan’s speech provides some answers, perhaps. “We will be living in interesting times. Whether it is a blessing or a curse is up to us. I am confident that we will rise to the occasion.”
