05 August, 2021

Making The Tiger Move

Despite recent jolts and gloomy prophesies, the capital market is likely to look up

Making The Tiger Move

The coming year promises to be one of realisation and acceptance. The last four years have been full of action for the Indian economy, thanks to the mantra of liberalisation. Dr Manmohan Singh had set the Indian economic 'tiger' free when he opened the doors of the Indian economy.

The intention: to make India stand on its own in a free, market-driven, global economic environment. And the Government's report card reads well on these counts. But somewhere down the line it does carry the message that the capital market is a place only for "people with a propensity to make huge profits without actually deserving them". Of course, some smart people do take advantage of the herd psyche prevailing in the market. But is that justification enough for the continued apathy towards stepping up reforms in the capital market?

SEBI, the regulatory watchdog, has done a commendable task so far. The post-scam period has been full of reforms. Its Chairman, D.R. Mehta, a true 'committee man', has reasons to introduce reforms through committee recommendations, but the sooner...

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