On budget day, the Sensex tanked 869 points and gilt yields rose 30 basis points. The markets seemed to be repelled by Pranab Mukherjee’s budget. In fact, the budget does a good job of dealing with a Great Recession. That […]
Strong content, lousy presentation Read More »
The budget, which aimed to build on its successful election platform and please the aam aadmi, ended up scaring the aam investor: the Sensex tanked 869 points. The markets had been irrationally exuberant in the run-up to the budget, and
UPA-II brings back CMP in its Second Avtaar Read More »
NEW DELHI: The Economic Survey predicts GDP growth as high as 7.75% in 2009-10 if the global economy turns up by autumn, and a reasonable 6.25% if the global recession drags on. Exuding confidence on the external front, the survey
High on hope & reforms Read More »
When President George Bush pushed through the Indo-US nuclear deal, analysts claimed that he aimed to generate multi-billion orders for US nuclear equipment suppliers. Some Indian scientists opposed the deal fearing that it would lead to US dominance in our
Russia first, France second, US last in nuclear race Read More »
Dear Pranab Mukherjee, You have a big budget problem. Your fiscal deficit is huge, but you cannot easily increase taxes or cut spending during a recession. One easy way out will be to raise taxes yet again on cigarettes. Tobacco
Killing me softly with your beedis Read More »
Gird your loins to ride out the global economic storm, and don’t get diverted by pleas for unending tax cuts and stimulus packages that will empty the treasury without ending the storm. That should be the approach of finance minister
We need consolidation, not stimuli Read More »
After six months of financial drought, global money is flooding into India at the rate of $1 billion a week. If sustained, this will be the mother of all financial stimuli, eclipsing the finance minister\’s budgetary endeavours. The dollar flood
India is now flooded with $1 billion per week Read More »
Why did voters in south Mumbai have a pathetic turnout at 42% whereas other areas in India recorded up to 90%? Why was the south Mumbai turnout worse than in South Delhi, both areas populated by the elite chatterati? There
Fallacies about voter turnout Read More »
US President Obama wants to end tax breaks that he thinks lead US companies to shift jobs to developing countries like India. Indian analysts fear this will hit foreign investment and jobs in India. These fears are overblown. Indeed, the
Obama’s protectionism may help India Read More »
The stock market has zoomed 20% hoping that the Congress victory will usher in radical economic reforms that were earlier thwarted by the Left Front. This is a serious error. The Congress sees its victory as a vote for continuity,
Expect continuity, not radical reform Read More »
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