2009 marks the 200th birth anniversary of Abraham Lincoln, and also the end of Manmohan Singh’s term as Prime Minister. Both ended office with awesome reputations as honest men in highly corrupt eras. Lincoln was nicknamed Honest Abe. Singh has […]
Honest Abe and Sharif Manmohan Read More »
Five years (2003-08) of near-9% growth suddenly seems a distant memory. The CSO estimated GDP growth in October-December 2008 at just 5.3%. Indeed, the IMF estimates that India will average just 5.1% growth in the calendar year 2009. There is
What’s wrong with 6% GDP growth? Read More »
As the world sinks into the worst recession since the 1930s, leaders of the top 20 countries are meeting in Britain to discuss major reforms of the world economic system. There is a consensus that the existing system has failed
US system lousy, rivals lousier Read More »
For decades, voters have thrown out virtually every incumbent government in New Delhi. Going by history, the current incumbent—the UPA coalition headed by the Congress Party—should be heading for a thrashing, the more so because of the economic slowdown. GDP
India slumps, Bharat rises, Congress smiles Read More »
Indian politicians and citizens are mostly in denial about the impact of the global meltdown on India. Politicians make brave statements laughing away the slowdown, saying India will be least hit and first out of the slump. Three stimulus packages
Learn to live with recession Read More »
India cannot grow fast again till the US economy recovers. And US recovery depends on reviving the housing sector, whence the downswing began. Alas, the Obama Plan for housing is a crutch, not a cure. Putting all the blame on
Obama Plan: recreating a rotten system Read More »
Islamabad’s surrender to the Taliban in Swat is terrible news. A moribund Islamabad cannot stop Islamic terrorists from attacking India even if it wants to. It is another matter that Pakistan has long nurtured groups like the Lashkar-e-Toiba to target
Pakistan needs a Beant Singh Read More »
We are on the verge of a revolution worth half a trillion dollars. After almost a decade of effort, India is about to move to a unified Goods and Services Tax (GST) to replace the current plethora of central and
Kelkar’s $ 500 billion revolution Read More »
High foreign exchange reserves have, in the current global recession, saved Asian countries (including India) from the travails they suffered in the Asian financial crisis of 1997-2000. So, they must aim for rising forex reserves in future too, right? Wrong.
High forex reserves can worsen recession Read More »
Governments across the globe are using Keynesian stimuli to revive drooping economies. Even George Bush has presided over the greatest stimuli in US history, with a projected fiscal deficit of $ 1.2 trillion and monetary injection of almost $ 2
Beware: Recession May Be Hayekian Read More »
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