The Economic Times

I greatly respect Raghuram Rajan. He warned in writings and speeches of rising risks in the US financial sector in 2005-07, when all others were singing hosannas to financial innovation. The subsequent financial crisis proved him prescient. Yet I disagree […]

In 2001, Goldman Sachs came out with the concept of the BRICs – Brazil, Russia, India China – as high-population countries that would dominate the world economy by 2050. At the time, global financiers sneered that this was a facile

How long and hard will the US recession be, and how badly will it affect India? Analysis of that issue has currently been hijacked by the sensational events in the US stock market, mirrored by gyrations in Indian markets. The

This year’s budget is not simply an election budget. It is also an anti-recession budget. It seeks explicitly to stimulate the domestic economy in the face of the coming global slowdown. Yet the exercise will have at best very partial

For a short but incisive economic history of India since Independence, you should read the first hundred pages of Arvind Panagariya’s new book (India: The Emerging Giant, OUP). He follows this up with an excellent discussion of key contemporary problems,

TNN I was taught in college that market failure is so common that governments must intervene with regulations to protect the public. Actually, regulations are required even when there is no market failure. Competition needs to take place within a

NEW DELHI: It should be an election budget. So, expect higher exemption limits for income tax, cuts in corporate tax and customs duty, selective cuts in excise duty, and big spending on welfare and social schemes in the coming budget.

Does the crash of stock markets in India and other emerging markets mean that the “decoupling” thesis — the notion that emerging-market economies can continue soaring even if the US economy dips — has been proved wrong? Not exactly. What

For more than two decades, from 1980 to 2003, India’s GDP growth averaged around 6% per year. Reforms in 1990 produced no dramatic acceleration. Then, with no new policy impetus at all, GDP growth suddenly shot up after 2003 to

For more than two decades, from 1980 to 2003, India’s GDP growth averaged around 6% per year. Reforms in 1990 produced no dramatic acceleration. Then, with no new policy impetus at all, GDP growth suddenly shot up after 2003 to