Hello, and welcome to the Best of BS Opinion, our wrap of the day’s Opinion page.
Creating a predictable environment for mining investment is a legitimate objective, particularly as India races to secure strategic minerals. However, today’s first editorial argues that last week’s amendments to the Mines and Minerals (Development and Regulation) (MMDR) Act pursue this goal at an excessive cost by weakening fiscal federalism and curbing mineral-rich states’ access to a critical source of revenue. The changes offer investors greater flexibility in mining leases, captive mine sales, and exploration, while improving price discovery. But the retrospective provision also appears to reward defaulters while penalising companies that paid state levies. Whether miners can operate smoothly in states deprived of significant benefits from their mineral resources remains an important practical question.
India’s rapidly ageing population and weakening traditional family-care systems make a national caregiving policy increasingly necessary, as proposed by the NITI Aayog, says our second editorial. The proposal offers an opportunity to build an accessible, professional care system, but training caregivers alone will not suffice. A sustainable workforce will require recognised qualifications, national standards, accreditation, decent wages, contracts, insurance and safe working conditions. A National Caregiving Council, registry and digital platform could improve coordination and workforce planning. Drawing on international experience, the editorial emphasises financing and quality assurance alongside training. Treating caregiving as essential social infrastructure could reduce household burdens, support women’s employment and create dignified jobs.
The Reserve Bank of India (RBI) has sought to make bank boards more effective by reducing the number of matters that consume meeting time and clarifying those requiring approval, review or information. T T Ram Mohan argues, however, that regulatory changes alone cannot address the deeper weaknesses in how boards function. Quarterly meetings are insufficient for their expanding responsibilities, while key presentations are often sprung on directors without adequate preparation. He also criticises last-minute “table” items and perfunctory board evaluations. The RBI cannot dictate every aspect of board functioning, but closer supervisory scrutiny of meeting frequency, advance circulation of material and evaluation practices could help strengthen bank governance.
India’s rapid urbanisation is outgrowing the definitions and institutions designed to govern its cities, with much of the fastest growth occurring in peri-urban areas and small settlements lacking municipal capacity. Amit Kapoor writes that cities must be understood as functional, living systems rather than bounded settlements or collections of infrastructure. This requires circular, nature-based planning, greater resource reuse and stronger local institutions able to respond to urban needs. Weak municipal finances, limited autonomy and delayed elections have undermined this capacity. With most of India’s future urban infrastructure yet to be built, Kapoor sees a rare opportunity to reshape governance and build better-functioning cities.
Suresh Narayanan’s Courage Under Fire: Leadership Lessons from the Arab Spring, Maggi Crisis, Covid & More traces his experiences of navigating crises across countries and culminates in his stewardship of Nestlé India through the Maggi controversy and the Covid-19 pandemic. In his review, Ishaan Mital finds the book’s account of crisis management and leadership thoughtful and instructive, despite a slow start and occasionally academic tone. Narayanan’s handling of the Maggi recall and his emphasis on preparedness, openness and humane treatment of employees stand out. The book’s focus remains firmly on lessons from crises rather than personal self-promotion, rewarding patient readers with deeper insights.
