Mint Views Daily Dispatch

US President Donald Trump has announced that ISIS leader Abu Bakr-Al Baghdadi died in a military raid. Baghdadi’s death, who inspired followers to take up violent acts in the pursuit of establishing a global caliphate, would deliver a significant blow to the organization. However, this should not bring complacency since the ideology it represents can still sway people. Although there isn’t clear evidence that ISIS has operatives in India, prudence requires that we stay cautious until there is proof to say with certainty that its influence doesn’t exist. Lowering the guard prematurely could be potentially dangerous.

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Markets regulator Securities and Exchange Board of India is probing the huge build up of derivates positions in the Infosys stock. This comes amid whistleblower allegations of governance lapses made by a group claiming to be Infosys employees. Reportedly, put options for 1.8 million shares of the company were bought at a strike price of ₹740 per share just prior to the public disclosure of the whistleblower allegations. The stock fell below ₹640 on Tuesday, providing a potential gain of about ₹100 per share. This has raised doubts of insider trading. To clear the suspicions, it is important that a thorough probe be conducted so that investor confidence can be restored.

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The government has in the Code on Social Security Bill 2019 proposed to extend certain social security benefits to so-called gig workers—those who work for various aggregators mostly on contract. This is an important step towards ensuring that such workers, who typically don’t get the benefits of regular employees, are also provided with some minimum social security benefits. For businesses, though, this would mean higher costs, which could discourage them from hiring freely. Perhaps a middle path is needed so that workers aren’t denied some essential benefits while the impositions don’t impede future hiring.

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President Trump appears to have inadvertently confirmed the presence of US nuclear weapons in Turkey, making this possibly the first time the country has publicly acknowledged what has been considered an open secret for years. This may revive concerns about the safety of these weapons in the wake of Turkey’s offensive in Syria. But was Trump’s accidental admission indeed accidental? Could not have Trump’s statement been deliberate to signal the US’s dominance in the region, particularly to China with whom it has been experiencing increasing geo-strategic conflicts? That is a point worth pondering.

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Nobel laureates Abhijeet Banerjee and Esther Duflo picked education as a critical social sector to examine whether people are in a poverty trap or not. Through a study, the economists found that it is critical for demand to exist that could spur the need for education. While governments often focus on the supply of education through providing incentives and infrastructure, demand generation still remains critical.

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Shares of state-run IRCTC more than doubled on market debut on the BSE and NSE on Monday. The railway services provider’s IPO was subscribed more than 112 times. Though its early to say if market sentiment has turned a corner, the strong demand does suggest that New Delhi needs to work out its pricing strategy in future share sales better so that the issues aren’t underpriced, especially given the tall disinvestment target it has set out to achieve.

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China’s Communist Party (CCP) today marks the 70th anniversary of its 1949 revolution. The journey from an undeveloped economy to becoming the second-largest economy in the world is no mean feat, especially considering the millions of people it has been able to lift out of poverty. But this rapid expansion has come at a cost: those of democratic values. Its record on upholding them is far less impressive. Its growth model, therefore, can provide lessons to other countries, although it’s not without fault.

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Data from various surveys suggests that millennials are shying away from buying houses. This could be because of a shift in their investment choices, as more attractive asset classes like mutual funds gain their attention. It could also be because of expectations of change in jobs, which could take them to a different city. If these are indeed the reasons, it would suggest a change in investment behaviour of millennials. However builders, who have been relying on this age group to drive sales, would be hoping that there diminishing interest be simply a result of the slump in the real estate sector. If that is true, demand from this key consumer segment should bounce back once the sector revives.

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The human resources development ministry has proposed that IIT students who are unable to cope up with the rigour of the institute’s four-year B.Tech course be given an option to pursue a three-year B.Sc ( Engineering) instead. If implemented, the move would help students opt for a more suitable course midway in their studies so that time already devoted doesn’t go waste. On the downside, though, such a move could result in segregation of students and cause stigmatization of the weaker ones. Brand IIT may also get diluted as those opting out of the main engineering course get branded differently.

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Union road transport and highways minister Nitin Gadkari said on Tuesday that he won’t allow driverless cars in India since these could take away lakhs of jobs. While there are still many questions about the practicality of introducing such vehicles, an outright ban might not be justified. Consumers should not be denied choice and technology advancement should not be hindered. If such cars lead to enhanced road safety and fewer accidents, any plans to introduce them may be worth examining in detail.

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