India needs new fiscal rules targeting the interest-revenue ratio he Fiscal Responsibility and Budget Management (FRBM) Act of 2003 aimed for prudence and stability by reducing the Centre’s fiscal deficit (FD) to 3% of GDP by 2008. Alas, the Great …
Hilariously, climate activist Greta Thunberg supports India’s farmer agitation. The farmers demand government guarantees for a farming system that is environmentally ruinous and emits colossal carbon. The government’s appropriate response to Thunberg should be “how dare you!” Instead, the government …
India aims to copy China in what economists call “industrial policy”. The budget allocated Rs 2 trillion over five years to 13 industrial sectors through a production linked incentive (PLI) of 4-6% of production. This approach began earlier with tariff …
India isn’t China, so don’t copy its industrial policy Read More »
India’s political system is too topdown. In a first-past-the-post electoral system, few talented new faces can gain enough critical mass to win elections. India’s political parties tend increasingly to represent family dynasties. In addition to the Gandhis, we have regional …
Covid has hammered the poor, yet stock markets have boomed. Massive printing of money by central banks has flooded the world, sending all stock markets soaring. The wealthiest have become wealthier. Some analysts say, let us impose a Covid tax …
A Covid tax on the rich will hurt wealth creation Read More »
Democracy is not about unity — it is about differing and dissenting New US President Joe Biden mentioned ‘unity’ 20 times in his inaugural speech on January 20. So have innumerable past presidents. The mainstream US media are calling for …
RBI predicts a disastrous GDP fall of 7.5%, yet the stock market has soared. The Sensex crossed 50,000 last week, up from 40,000 a year ago. Is this a bubble about to burst? Yes, it is a bubble. But it …
Sensex: Yes, it’s a bubble but it will not burst so soon Read More »
Many economists are urging a major fiscal stimulus in the coming budget of finance minister Nirmala Sitharaman to deal with the continuing effects of Covid. This would be a mistake. The biggest drag on the economy today is fear of …
Free vaccinations will be better than a stimulus Read More »
Free media have the right to exclude content; that is not censorship Twitter and Facebook have suspended Donald Trump’s social media accounts after he incited a mob to storm the Capitol Building in Washington on January 6. Many Democrats say …
The Covid pandemic will change the world permanently in many ways. Most obviously, people will increasingly work from home. Workplaces will not disappear, but an increasing share of work will be done at home. This will save employers office space …
Will work-from-home give a boost to female employment? Read More »
Sign up to get all the latest posts and news sent to your inbox.
