In a bold move to set an e-example to the world at large, tiny Estonia is pink-slipping what Carlyle called as the ‘red tape talking machine’ by radically downsizing its bureaucracy. Estonians can now register births, get medical prescriptions, monitor their children’s progress in school and register new businesses without having to stand in line to meet an official, thanks to X Road, a decentralised data exchange system. However, as Estonia’s top technocrats admit, bundling up what is called ‘bureaucrazy’, by critics might not be possible in large countries like India. Size apart, what Kipling called ‘the little tin gods’ of the bureaucratic pantheon have developed an inbuilt propensity for self-propagation. Even as the sarkar recites the mantra of streamlining babudom, the creation of new states has led to the establishment of new capital cities and the appointment of municipal and other mandarins. World-conquering Alexander who cut … [Read more...] about Can Estonia’s e-example flutter the feathers of our entrenched ‘babudom’?
Money flows where it sees return. We may not be able to see those returns now but in six-nine months, the economy could be headed for recovery and some of the corporates could be headed for better performance, says Kunj Bansal, Partner & CIO, Sarthi Group. Excerpts from an interview with ETNOW. How are you approaching a market which is rising not because of fundamentals, but liquidity, momentum and an inherent belief that the worst is over for small and midcap stocks?First of all, you cannot time the market. It takes me back to November 2016 when we had demonetisation and the expectation was that now as an economy we are gone for a reasonably long period of time. But by 2017, the whole calendar year from January to December saw a one-way upward rise in the market. Timing the market is best left for traders. It is not for medium and long-term investors. Liquidity inflow is partly driving the market. But I do believe that at the end of the day, money does not have any friends or … [Read more...] about Not much to differentiate between ICICI Bank, HDFC Bank and Kotak Bank now: Kunj Bansal