Best BS Opinion: Government

The Reserve Bank of India (RBI) draft on board governance of banks suggests that the composition and capacity of bank boards is important. However, it remains to be seen whether banks are able to fill those positions with the right people. Anyway, vacancies remain at the top level in many public sector banks (PSBs). As Our first editorial tellsMany lack non-executive chairpersons, while key executive roles remain unfilled for months. Board strength is uneven, and the lack of independent directors and chartered accountants weakens audit committees. Government delays in appointments have further compounded these shortcomings. Without fully staffed and competent boards, principles-based regulation may prove ineffective. This shortcoming risks deteriorating governance standards, hampering strategic oversight and ultimately undermining the performance and stability of public sector banks.

GalaxyEye’s mission vision highlights India’s emerging aerospace capabilities, as the Bengaluru startup deploys a satellite combining radar and optical imaging. Today’s second editorial notes This OptoSAR system enables all-weather, day and night observations with improved accuracy, addressing persistent limitations such as cloud cover. Developed in collaboration with the Indian Space Research Organisation, NewSpace India Limited and IN-SPACe, it represents a comprehensive policy effort. Early global partnerships and government interest underline commercial promise. Importantly, sovereign control over high-resolution data enhances strategic autonomy, while establishing India as a competitive player in global satellite imagery markets.

In his ‘Raisina Hill’ column, AK Bhattacharya argues India lacks sufficiently consistent and diverse economic guidance at a time of growing global uncertainty. While the Reserve Bank of India and the Finance Ministry provide periodic assessments, these can quickly become outdated amid shocks such as the West Asia conflict. The Monthly Economic Review has improved transparency, but has stopped producing concrete projections. He says the Prime Minister’s Economic Advisory Council and NITI Aayog should revive regular macroeconomic reporting. More timely forecasts and policy assessments will aid decision making, strengthen debate and better prepare India’s economy for external turbulence.

Challenges of Arvind Subramanian Claiming that China’s business model suppresses domestic welfare, he argues that such criticisms rely on misleading metrics. While the share of consumption in GDP appears low, per capita consumption growth provides a clear measure of living standards. By this measure, Chinese households have seen unprecedented gains, outpacing competitors such as Japan, South Korea and Taiwan over a comparable period. Rapid GDP expansion has eased distributional concerns, with absolute consumption rising even during peak mercantilism. Although this model has raised global concerns and criticism, particularly over imbalances and trade tensions, it cannot be accused of harming Chinese consumers, whose material progress has been extraordinary.

In his review, Neha Kripal investigating Two Bandra Girls Buy a Farm: Anarchy, Community and Crops in Rural Maharashtra A memoir of leaving Mumbai to build an organic farm, by Aarti Dwarkadas. The book describes Dwarkadas’s journey from urban comfort to rural uncertainty, navigating bureaucratic hurdles, ecological education and personal growth. Kripal notes a mix of humor, candor and practical advice for aspiring farmers, including navigating permits, building community relationships and managing risk. Beyond its surreal charm, the narrative reflects resilience, patience, and the deep fulfillment of connecting with the land and nature.