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Essential dry run: On COVID-19 vaccination drive

In the next couple of weeks, Phase-3 data of two COVID-19 vaccines tested by Indian manufacturers are expected to be submitted for emergency use approval. If even one of the vaccines gets the approval, a countrywide rollout to immunise the four high-risk groups starting with healthcare workers will begin soon thereafter. India has been vaccinating millions of young children with a variety of vaccines each year and hence has the entire system in place to roll out any new vaccine under the universal immunisation programme. But this is the first time a vaccine to be administered outside the programme and specifically for adults is to be rolled out. Since several aspects of the COVID-19 vaccination programme are new — vaccinating millions of adults belonging to specific groups, administering two doses of the vaccine a few weeks apart, and the process of enrolling the recipients and rolling out the immunisation programme — the government has rightly decided to undertake a dry run for

36mins

Limited partnership: On Congress-Left alliance in Bengal

The Congress-Left Front alliance for the Assembly election in West Bengal is notable for several reasons, though not unexpected. Both have been cooperating at the national level for several years now, and were partners in the recent Assembly election in Bihar. The CPI(ML), which was part of the ‘grand alliance’ in Bihar, is not part of the alliance in West Bengal. The Congress and the Left Front argue, and perhaps even believe, that the election will not be a straight contest between the AITMC led by Chief Minister Mamata Banerjee and the BJP. Both the Congress and the Left Front are staring at extinction in the State, caught in the crossfire of the intense battle between the BJP and the AITMC. The alliance is an effort to salvage what is left of their support base and consolidate their meagre resources. The downslide of the Left Front did not end with its ouster from power in 2011 after 34 years. Rising from the ashes of the Left Front was AITMC, but the shallowness of its politics

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Editorial

Recharging DTH: On 100% FDI

The Union Cabinet’s approval of a revised scheme for the Direct-to-Home (DTH) television distribution sector beginning with 100% FDI brings a measure of calm to an industry buffeted by technological change and revenue pressures this year. Under the new norms, the licence period will go up to 20 years from the present 10, and, importantly, the fee has been reduced to 8% of Adjusted Gross Revenue, after setting off service tax, as opposed to 10% on Gross Revenue now. The proposal for a reduction in the licence fee has been on the backburner for six years since the regulator, TRAI, recommended it. The DTH operators have also been facing a challenge from high bandwidth Internet and new generation entertainment providers using Over The Top (OTT) channels that are chipping away at their urban viewer base so valuable to advertisers. Many broadcasters now have a live Internet presence, and newer screen casting technologies pair mobiles to large screen TVs. In such an environment of flux, some

Editorial

Limits of sovereignty: On U.K.-EU post-Brexit deal

The tariff-free trade accord in goods that the U.K. and the EU signed on Thursday, days before the post-Brexit transition expires, should mitigate somewhat the consequences of Britain’s narrow decision, in 2016, to leave one of the largest trading blocs. The eleventh hour agreement averts a catastrophic ‘no deal’ scenario. This is borne out by the findings from the U.K. Office for Budget Responsibility. The country now faces a potential 4% loss of GDP over 15 years, compared to remaining in the EU. Leaving without any agreement would have led to a potential loss of 6% of GDP, estimates the fiscal watchdog. Moreover, given the U.K.’s reliance on the EU for about 75% of food product imports, the significance of zero duty trade for consumers and the retail economy cannot be exaggerated. Brexit’s biggest trade-off for the ordinary citizen is perhaps the restrictions on the right to free movement and work. The tariff-free access to Europe’s single market has been realised in exchange for

Editorial

Learning to let go: On retro taxes

The Permanent Court of Arbitration at The Hague on Wednesday ruled in favour of energy firm Cairn Plc over a retrospective tax demand worth ₹24,500 crore pursued by India’s taxmen since 2014. It has ruled that the tax levy, pertaining to a corporate reorganisation exercise undertaken in 2006-07, falls foul of the India-U.K. bilateral investment pact. The timing could not have been worse for the government — expiry of a three-month deadline to contest a similar retrospective taxation case lost against Vodafone this September. But unlike the telecom case, where the government would only need to fork out around ₹80 crore if it were to concede defeat, this verdict includes a sharp $1.4 billion payable as damages to Cairn. The damages arise from tax authorities’ decision to take by force and subsequently sell the company’s shares, and freeze dividend payments as well as tax refunds, to recover the disputed tax dues even as the arbitration process was under way. This outcome has

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