Hello and welcome to BS Opinion, a wrap of editorials and columns on today’s Opinion page.
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Illustration: Ajaya Mohanty
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Our first editorial today notes that the Reserve Bank of India’s record Rs 2.87 trillion surplus transfer to the government will not significantly ease fiscal pressure. The transfer was expected and largely budgeted for, while other revenue channels may weaken because oil companies are unlikely to deliver large dividends amid high crude-oil prices and underrecoveries. The West Asia crisis has further complicated Budget arithmetic by raising the likely subsidy burden and lowering revenue through cuts in special additional excise duty on petrol and diesel. The editorial argues that the government’s fiscal position will depend heavily on the duration of the crisis and its approach to capital expenditure.
Our second editorial says India’s surging electricity demand needs better planning, not just appeals for citizens to use power judiciously. A developing super El Niño has brought extreme heat early, pushing national power demand to a peak of 270.8 Gw on May 21 and exposing infrastructure gaps, including the transformer fire that disrupted supply in Gurugram. The editorial notes that India has improved its grid systems since the 2012 blackout, but demand surges were foreseeable after a decade of record heat. Renewable energy is helping during daytime peaks, but the evening demand spike still depends heavily on thermal power. India will need faster battery storage deployment and better infrastructure preparation to meet rising power demand.
Ajay Shah argues that India needs a much bigger economic-policy push because conventional tinkering will not revive private investment. He writes that the oil shock must be passed through to consumers and the exchange rate, since price and currency signals are needed for adjustment. Shah calls for capital-account liberalisation, a tighter inflation-targeting framework, fiscal prudence, deeper trade agreements with advanced economies other than the US, a simpler GST structure, and greater consistency in how the Indian state treats foreign investors. His larger point is that private investment revives only when economic agents see sustained credibility, rule of law and policy discipline over time.
Surinder Sud writes that spirulina, a protein-rich blue-green algae, could help India address malnutrition while also creating a high-value farming opportunity. Spirulina contains essential amino acids, vitamins, minerals and antioxidants, grows quickly in poor-quality water, and can absorb carbon dioxide. Sud notes that while global consumption has grown among fitness enthusiasts, India’s production and use remain modest despite widespread protein deficiency and anaemia.
Anand Giridharadas reviews Theo Baker’s How to Rule the World as a sharp account of power, technology and ambition at Stanford University. Baker arrived as a freshman drawn to Silicon Valley’s promise, but ended up exposing a campus culture deeply shaped by Big Tech, venture capital, startup ambition and elite networks. Giridharadas notes that the book’s central story is Baker’s investigation into Stanford president Marc Tessier-Lavigne, who resigned after scrutiny over allegations linked to falsified research. The review presents the book as a portrait of a “dweebocracy” in which idealism, money, status and institutional influence overlap, making Stanford a revealing site for understanding how power works today.
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