Best of BS Opinion: No taper tantrum, a precarious pragmatism, and more

Here are the top BS Opinion articles of the day.

“Mudra” loans, launched six years ago, were conceived as collateral-free loans to micro and tiny businesses that would spur their growth and generate jobs. Instead, bad loans in this category have grown by leaps and bounds and job creation remains a mirage. As Debashis Basu points out here, is that India's recent economic history has shown that directed lending doesn’t work and encourages corruption, yet the government seems to see it as a go-to solution.

In other views today:

Tamal Bandyopadhyay argues that only credit growth can help banks out of their current liquidity drag, but that