Skip to main content

Jaitley calls for restraint in ‘ judicial activism’

Continuing his criticism of the judiciary for its “overreach”, Finance Minister Arun Jaitley on Monday said it must draw its own " Lakshman rekha" as there cannot be a " compromise" with other aspects of the basic structure in the name of independence of the judiciary.
Four days after Jaitley said in Parliament that “ Step by step, brick by brick, the edifice of India’s legislature is being destroyed” due to judicial activism, Jaitley said activism has to be blended with restraint.
“Judicial review is legitimate domain of judiciary but then the Lakshman rekha has to be drawn by all the institutions themselves,” Jaitley said, asserting that “ the executive decisions are to be taken by the executive and not the judiciary”.
Replying to questions during amedia interaction here, Jaitley said there are different kinds of recourse and " layers of accountability" available when the executive takes decisions and people have options of seeking changes in the decision taken by the executive.
Courts can also strike down adecision taken by the executive if it is found to be unconstitutional.
However, all these options are not available when the court ends up taking executive decisions, Jaitley said. “Courts cannot substitute the executive and say I will exercise the executive power. If you do so the three options will not be available, which are there when the executive takes executive decisions,” he said.
Business Standard New Delhi,17th May 2016

Comments

Popular posts from this blog

RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

  India's digital lending infrastructure has made the loan sanctioning system online. Yet, loan recovery still needs a “feet on the street” approach, Swaminathan J, deputy governor of the Reserve Bank of India, said at a media event on Tuesday, September 2, according to news agency ANI.According to the ANI report, the deputy governor flagged that fintech operators in the digital lending segment are giving out loans to customers with poor credit profiles and later using aggressive recovery tactics.“While loan sanctioning and disbursement have become increasingly digital, effective collection and recovery still require a 'feet on the street' and empathetic approach. Many fintech platforms operate on a business model that involves extending small-value loans to customers often with poor credit profiles,” Swaminathan J said.   Fintech platforms' business models The central bank deputy governor highlighted that many fintech platforms' business models involve providing sm

Credit card spending growth declines on RBI gaze, stress build-up

  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the rep

India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

  India can’t rely on wealthy individuals to drive growth and expect the overall economy to improve, Viral Acharya, former deputy governor of the Reserve Bank of India (RBI) said on Monday.Acharya, who is the C V Starr Professor of Economics in the Department of Finance at New York University’s Stern School of Business (NYU-Stern), said after the Covid-19 pandemic, rural consumption and investments have weakened.We can’t be pumping our growth through the rich and expect that the economy as a whole will do better,” he said while speaking at an event organised by Elara Capital here.f there has to be a trickle-down, it should have actually happened by now,” Acharya said, adding that when the rich keep getting wealthier and wealthier, they have a savings problem.   “The bank account keeps getting bigger, hence they look for financial assets to invest in. India is closed, so our money can't go outside India that easily. So, it has to chase the limited financial assets in the country and