TMS Ep308: Old Pension Scheme, COP27, Metal Stocks, Data Protection Bill

A by-product of the financial crisis of the 1990s, pension reform had the backing of both the BJP and the Congress -- the two main political parties of the country. While NDA implemented it in early 2000, Congress gave it statutory support after coming to power later. But now, it seems, Congress and some other parties want to turn the clock back. Four states under their rule have already switched to the old pension scheme. And the parties are using it as a political tool to gain power in other states too. While this may prove to be good politics, is it good economics? 

Politics, it seems, also came into play at the recently-concluded climate summit in Egypt. It relegated the realistic climate goals to the back seat, and put several developing countries like India in a tight spot. So will India gain from the newly-established ‘Loss and Damage’ fund? 

Back home, India has decided to remove export duty on steel, and steel making raw material. It was levied six months ago in a bid to bring down inflation. While industry has welcomed the move, analysts do not see any benefit in the near term. What is making experts cautious on the move, and how will stocks of related companies be impacted? 

The government, meanwhile, came out with a revised version of the personal data protection Bill last week. Its introduction for consultations in the public sphere comes at a critical juncture in India’s journey to become a digital economy. While the finer points of the Bill are being debated, there are key terms used in it that should be known by us all. Today, let us examine four such key terms in this podcast.