Swaminathan Aiyar

Not a first division but a high second: The hits & misses in our 75-year journey

India’s 75 years of Independence are replete with major achievements but failures too. Compared with several other developing countries, India falls short of a first division on most counts but merits a high second division. I am proud that a country as diverse as India, with 22 national languages and multiple regions, religions and ethnicities

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A fundamental problem of democracies: What constitutes good and bad freebies?

Chief Justice N V Ramana has, astonishingly, waded into the controversy of political parties promising endless freebies that could plunge countries into disaster. He says political parties do not want to curb such excesses, so a specialised body should tackle the problem. Sorry, subsidies lie squarely in the province of politics, not the judiciary or

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SC’s verdict on PMLA encourages harassment it had criticised

Last week, I congratulated the Supreme Court in the Mohammed Zubair case for castigating police misuse of procedures to penalise free speech. Alas, its verdict upholding the Prevention of Money Laundering Act (PMLA) will encourage the very harassment it had criticised a week earlier. “Bail is a rule, jail is an exception” is a fundamental

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A global recession will pose enormous fiscal challenges. India must be prepared

India is currently the world’s fastest-growing major economy. Hurrah. But the combined fiscal deficit of the Centre and states exceeds 10% of GDP, horrendously high by international standards. High fiscal deficits can spur high growth for some time, but then end in bankruptcy. India itself broke out of the Hindu Growth Rate of 3.5% in

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