The ratings illusion

Nations give too much importance to credit rating agencies despite their structural flaws The idea of rating an individual, an entity and even a nation has been there for aeons. The historian Herodotus, along with the scholar Callimachus of Cyrene, made lists of the original Seven Wonders, describing them and their worth in soaring rhetoric.
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CJI responds to Ravi Shankar Prasad, says judges repose trust in the popularly elected leader In sharp criticism of the National Judicial Appointments Commission (NJAC) judgment which revived the Supreme Court collegium, Union Law Minister Ravi Shankar Prasad said on Sunday that at the core of the verdict is the judiciary’s distrust in the capability of the
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Disclosures on judicial appointments are welcome, but the reasons must be spelt out The Supreme Court collegium’s decision to disclose the reasons for its recommendations marks a historic and welcome departure from the entrenched culture of secrecy surrounding judicial appointments. The collegium, comprising the Chief Justice of India and four senior judges, has said it
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Political parties must frame their campaign as a referendum not on leadership but on democratic values Of late, it’s become almost a matter of conventional wisdom that the 2019 Lok Sabha elections are the Bharatiya Janata Party’s for the taking. The only unknown, apparently, is the margin of victory. If the party’s ambitious ‘Mission 350-plus’
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It must reopen the discussion on balancing the global intellectual property system with development Global trade and intellectual property are at a crossroads. In a time when multilateral consensus is languishing on a large number of issues, the Trump administration is considering pulling the U.S. out of most free trade agreements on the ground that it needs
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The disqualification of 18 MLAs in Tamil Nadu is highly questionable The disqualification of 18 dissident AIADMK legislators by the Tamil Nadu Assembly Speaker is a partisan decision aimed at securing a majority for the seven-month-old Edappadi K. Palaniswami government after a rebellion reduced it to a minority. The Speaker’s ruling comes at a time when there
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With China’s critical 19th Party Congress set to take place soon, peace on its periphery is a necessity The Brazil, Russia, India, China and South Africa grouping (BRICS) has since long ceased to be of material significance as multilateral institutions go. The recent BRICS Summit in Xiamen (China) only seemed to confirm this. It suggests that BRICS
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Its overture to Fatah gives Palestinians a stronger hand in reviving the peace process Hamas’s decision to dissolve the Gaza administrative committee and hold talks with Fatah is the strongest signal yet from the Islamist group that it is ready to cooperate in finding common ground with its political rival. Hamas, which won the 2006 elections in
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They relate to its legal validity and conformity with the Constitution As part of the Goods and Services Tax (GST) reforms that have been implemented in the country, a new levy called the GST Compensation Cess has been introduced to make good apprehended losses to States in the first five years of GST implementation. The
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Sub-categorisation of OBCs provides an opening to ensure social justice works better Regardless of the political impulse that led the government to announce creation of a committee to look into sub-categorisation of Other Backward Classes (OBC), it provides an opening to ensure social justice in an efficient manner. The biggest challenge India faces is that
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