The Constitutional amendment to facilitate a goods and services tax has been called the greatest economic reform since 1991. Political scientists have hailed the new “co-operative financial federalism, and “one nation, one tax, one market”. Trucks in India average just […]
GST’s a great idea. But making it work is not going to be easy Read More »
The high price of dal is big news. Rahul Gandhi says arhar dal costs as much as Rs 180 a kg, more than even the cost of chicken, and sneers derisively that the BJP chant of ‘Har har Modi!’ should
The future of dal should be high-protein soya — with the right price Read More »
An anti-corruption agitation by NGOs in 2011 forced the government to enact a law setting up a lokpal. In an outrageous twist, the government now seeks to use that same Lokpal Act to harass NGOs in ways unprecedented in democracies.
Do not misuse Lokpal Act to harass NGOs Read More »
How well has Narendra Modi fared in two years? On the economic side, he has not been the radical reformer liberalisers hoped for. On the socio-political side, he has not been the communal ogre that many liberals feared. He has
PM Narendra Modi at mid-term is good enough for re-election in 2019 Read More »
In a forthcoming paper for the Cato Institute, I have summed up the 25 years of economic reform as an era of private sector success, government failure, and eroding institutions. In 1991, many analysts warned that opening up the economy
25 years on, the good, bad and ugly of reforms Read More »
This is a silver jubilee to remember. The economic reforms launched by PV Narasimha Rao in July 1991 have transformed India so much that it’s difficult to recall how bad things used to be. Back in 1991, lndia pretended to
25 years of economic reforms: From super-beggar to potential superpower Read More »
The government hopes that Parliament will pass a Constitutional amendment for a Goods and Services Tax in the coming monsoon session. Attempts for over a decade have failed to ensure a two-thirds majority in both Houses. Does this mean India
Changes like Brexit need a super-majority Read More »
After attacking Raghuram Rajan as mentally un-Indian (he is a US green card holder) and unfit to be governor of the RBI, Subramanian Swamy has demanded the sacking of chief economic adviser Arvind Subramanian. Arvind’s supposed sins include his being
Swamy plays spoiler as Modi woos diaspora Read More »
Brexit heralds not just Britain’s exit from the European Union but the decline and maybe fall of the 20th century ideal of a liberal, globalised world. It heralds a 21st century ethos based on ultra-nationalism and racist xenophobia, blaming foreigners
Brexit may mean end of globalisation as we know it; stormy days lie ahead Read More »
Even before Brexit, India has suffered Rexit. Raghuram Rajan has announced he will exit as RBI governor when his term ends in September. Every RBI governor since 1992 got an extension. So, Rajan’s case stands out. Global investors widely view
Rexit: This government has just shot itself in the foot Read More »
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