Economy

Oil prices are likely to peak sooner, rather than later

There are two main reasons crude oil prices keep rising. The first, of course, is demand, and the other is control of supplies by OPEC. Demand for crude oil is set to top out in the longer run with increasing use of renewables, reduced use of automobiles by millennials and similar developments. In the shorter run, the higher crude oil prices go, the more do alternate sources of oil - like fracking and increasing supplies of LNG and natural gas.

World Bank : India needs to create far more regular, salaried jobs to join the ranks of the global middle class

The World Bank has said in a report that while uneducated Indian workers have shown resourcefulness despite the constraints they face, the business are too small to improve the well-being of their owners. What India needs is a substantial increase in salaried jobs with growing earnings for the standards of living to rise in the country.

The North-South divide is widening in India

Human development indicators for the southern states of India resemble those of upper-middle-income-countries, while that of the northern states is closer to sub-Saharan Africa. At the same time, the population of northern states has been increasing at a much higher rate than that in the southern ones. As a result, there is an increasing perception in the south is that their resources are diverted to the north, while they become a political minority with little control over the situation.

Privatising Indian PSU Banks will not solve problems with the industry, as Private Sector Banks have got into trouble too.

The biggest problem with the Indian banking sector is a lack of proper checks and balances. Without them, future scams cannot be ruled out. RBI needs to get more powers, besides doing a lot more to ensure that transgressions of the sort seen recently at PNB, ICICI Bank and Axis Bank do not occur elsewhere again.