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 »
Almost all pundits anticipated a hung parliament with regional and caste-based parties holding the balance of power. Now that the United Progressive Alliance has achieved a clear victory, the same pundits are coming out with grand theories to explain it.
Graveyard of electoral theories Read More »
I was dead wrong in predicting a hung parliament with Mayawati having a kingmaking role. Yet, I cannot resist recalling the heading of my March 9 column, \’India slumps, Bharat rises, Congress smiles\’. Despite a global recession that has hammered
Bharat Shining, Cong Smiling, Left Whining Read More »
There is much talk of green shoots heralding the end of the global recession. Stock markets are shooting up globally. But the International Monetary Fund (IMF) has just issued its gloomiest forecast ever. It says world GDP, which has never
Is this going to be a long recession? Read More »
India’s merchandise exports declined 22% in January and February, and the slump looks like continuing. The silver lining is that India’s exports of software and IT-enabled services have proved resilient. However, such exports face new threats that should not be
IT exports resilient, but facing new threats Read More »
India cannot return to rapid growth till the world economy recovers. And that cannot happen till the US economy recovers. Alas, the Obama administration is prolonging the recession by avoiding surgery to remove dead wood from its financial sector. Some
Obama’s cowardice hits India too Read More »
Sign up to get all the latest posts and news sent to your inbox.
