Newspapers carry alarmist headlines about the partial shutdown of the US government because of a budget impasse over Obamacare. Yet, the markets have moved only slightly. Veteran traders yawn with amusement: they know the US has had such shutdowns before, …
Indians don\’t realise how exceptional they are in never even thinking about the army when discussing politics. In many developing nations, the army casts a long shadow on politics even when it does not rule directly. Pakistan is a classic …
Pakistan shows why military ultimately fails to govern Read More »
The rupee has bounced back, the stock market has soared, and finance minister Chidambaram is smiling again. This will not last, because there’s no clear strategy to remedy the economy’s structural weaknesses. One big structural problem is the creation of …
Economic reforms should be clear and simple, not cluttered with endless terms and conditions. This has long been forgotten by the UPA government, which tries desperately to ensure that any change satisfies several vote banks simultaneously, supposedly to ensure inclusion. …
The Congress party is feeling good after passing its two new bills on food security and land acquisition in Parliament. It believes it has occupied the moral high ground, and left the BJP making vague, unconvincing objections. The Congress hopes …
People ask me, will the exchange rate go to Rs 70 to the dollar? I reply, why not Rs 80? Indian analysts are in denial. They don’t dare face up to the full consequences of the global financial hurricane originating …
Make no mistake, a second Asian Financial Crisis is on its way. This storm will not blow over soon. It originated in the US, when the Fed proposed to taper and end quantitative easing. The frightening thing is that this …
The Lok Sabha has passed the Food Security Bill. Sonia Gandhi claims it will save the needy from hunger and malnutrition. The BJP claims she is merely buying votes in the coming general election. Critics claim the Bill will strain …
The Land Acquisition, Rehabilitation , and Resettlement Bill introduced in Parliament is a terrible piece of work. It is a Luddite proposal that threatens all economic development. Some critics have focused on its high compensation norms. But its worst provisions …
Land Acquisition Bill is a Luddite throwback to 19th century Read More »
Narendra Modi, chief minister of Gujarat, chose Independence Day, August 15, to launch his campaign to become prime minister. He is not formally the BJP’s official candidate, but makes no bones about his ambition. Even as Manmohan Singh made one …
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