The Economic Times

The government has finally hiked the prices of diesel, kerosene and LPG, though by less than recommended by the Kirit Parikh Committee. It has decontrolled petrol , and hopes to decontrol diesel in due course. But its timidity suggests that […]

Earlier this year, IMF chief economist Olivier Blanchard suggested that countries should raise their inflation targets from a typical 2% per year to 4%. His suggestion was greeted with hoots of derision. Yet in a world where there are no

The Indian government remains asleep to the revolutionary potential of shale gas, which promises to revolutionise both the world energy scene and global geopolitics. Russia, Iran and Opec are going to be greatly weakened, while the US, Europe and China

Given the economy’s impressive performance in weathering the Great Recession and then accelerating this year, optimists feel that the good-old days of 9% growth are about to return. They think it is only a matter of time before we hit

As India\’s GDP growth accelerated to a record 8.5% between 2003 and 2009, Maoism also accelerated to hit over 200 districts. Maoist attacks made major headlines and seriously affected some localities, but had no macroeconomic impact. That situation may be

Carving small states (Jharkand, Chattisgarh and Uttrakhand) out of larger ones (Bihar, Madhya Pradesh, UttarPradesh) has so far proved an economic success. Not only have the new states grown faster economically, even Bihar and Uttar Pradesh have experienced much faster

There are two versions of the global warming story playing out at the Copenhagen summit. What you usually hear is the pop version, pushed by many NGOs and politicians. Less popular but more cogent is the scientific version, which is

The Government’s proposed Direct Tax Code has been widely welcomed. It seeks, rightly, to bring corporate tax rates closer to the Chinese and ASEAN level, and combine lower rates with fewer exemptions. The proposed income tax changes will give substantial

Just five months ago, when stock and commodity markets hit rock bottom, capitalism was viewed as seriously if not terminally sick. The Financial Times ran a series of articles labeled “The Future of Capitalism.” Economists, politicians, and philosophers saw the

When Narendra Modi won the 2007 state election in Gujarat, the media focused on Hindu-Muslim issues. Some journalists highlighted rapid industrial development that had made Gujarat India’s fastest-growing state. I mentioned Gujarat’s successful port-led development. However, an excellent new study