In response, the Sensex initially jumped nearly 600 points, but handed back much of the gains after investors realised some of the Budget’s projections were based on statistical revisions and future optimism rather than fiscal stringency. Finance Minister Pranab Mukherjee’s […]
Budget 2011: A tie between deficit and growth Read More »
Indians are rightly excited by the jasmine revolution that has overthrown autocracies in Tunisia and Egypt, and may oust Muammar Gaddafi in Libya too. They hope that the jasmine revolution will spread to the rest of the Middle East, bringing
Gulf: Rising Shias, uneasy Sunnis Read More »
One reason for the Taliban’s resilience in Afghanistan is the big money they make from the opium trade. Attempts to cut off external financing for the Taliban have failed since it generates so much money within the country. The US
Dump opium in Afghanistan, bankrupt Taliban Read More »
Excitement over the revolution in Egypt is tempered with worries that old autocrats will be replaced by new ones. The Middle East has no tradition of democratic institutions. Why so? There are many reasons, but we will focus on the
Middle East\’s uncertain democracy Read More »
Excitement over the revolution in Egypt is tempered with worries that old autocrats will be replaced by new ones. The Middle East has no tradition of democratic institutions. Why so? There are many reasons, but we will focus on the
Middle East\’s uncertain democracy Read More »
I am delighted that public outrage is mounting over corruption. To get better insights into the nature of corruption today, I discussed the issue over lunch with three businessmen who had headed small and mid-cap companies. Their immediate reaction was
Big graft yes, but big growth too Read More »
Economists have, for over a month, had an internet debate on growth and social spending. It started with the Financial Times citing Nobel Laureate Amartya Sen as saying it would be \”stupid\” to focus on double-digit GDP growth without spending
It\’s social spend boom, stupid Read More »
Economists have, for over a month, had an internet debate on growth and social spending. It started with the Financial Times citing Nobel Laureate Amartya Sen as saying it would be \”stupid\” to focus on double-digit GDP growth without spending
It\’s social spend boom, stupid Read More »
Most budgets are dominated by tax rates and high finance. But Budget 2011 will be dominated by inflation and corruption, the current two political hot potatoes. Finance Minister Pranab Mukherjee will have to announce tax and administrative changes to curb
Budget 2011: Rising prices & black money under the spotlight this year Read More »
The Cabinet reshuffle last week led to profuse but mostly vacuous analysis on TV. Many analysts claimed the reshuffle aimed to influence the 2014 parliamentary elections. Some opined that the coming state election in Uttar Pradesh was a major consideration:
Electoral irrelevance of Cabinet reshuffles Read More »
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