In his budget speech, the Finance Minister hailed bank nationalization as visionary and revolutionary. Yet nationalized banks have, by and large, not reached the poor. However, micro-finance is now reaching people whom nationalized banks could not. Households getting micro-credit now […]
How micro-finance institutions beat nationalised banks Read More »
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
Agriculture: Secret of Modi\’s success Read More »
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
Agriculture: Secret of Modi\’s success Read More »
Air India lost Rs 5,000 crore last year, and is surviving on huge government handouts. Opposition politicians are critical, but reject any cut in its bloated staff. Across the world, airlines are reducing staff in the recession. But Air India
Let Air India fade away like HMT and IDPL Read More »
Why did the budget cause the Sensex to crash by over 1000 points, and cause global rating agencies to mutter that if India did not pull up its socks, its bonds would be downgraded? Finance Minister Pranab Mukherjee has gone
One-night stand or prolonged affair? Read More »
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 »
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