India today presents a sorry picture of messed-up opportunities and policies. The government may fall because of Marxist resistance to the Indo-US nuclear deal. The government is too timid to pass on the high price of oil and fertilisers to […]
Indian lessons & non-lessons for China Read More »
From ancient times, Indian rulers have always blamed inflation on the perfidious bania. That is happening globally today. Politicians everywhere are blaming speculators for high inflation. Actually, inflation occurs when too much money chases too few goods. Today, no great
Excess speculation or excess money? Read More »
Predicting oil prices is a mug\’s game. Yet I will stick my neck out and forecast that oil will fall from today\’s $135/barrel to under $100/barrel by the end of 2008. Usually, when prices go up, demand falls. But world
Oil will fall below $100 a barrel Read More »
I was a gung-ho liberaliser when economic reforms began in 1991. At the time, a sceptical politician asked me which sectors would benefit most. I replied it was not possible to predict the winners. In that case, he sneered, why
Path to nowhere leads to success Read More »
India has a world-class elite sitting on top of hundreds of millions with low skills and literacy. This accounts for the title of a new study on India\’s educational tragedy — \’India Shining and Bharat Drowning\’ — by Jishnu Das
Bharat Drowning or Bharat Rising? Read More »
Crude oil costs $135/barrel globally, but Indian prices of petroleum products have long been linked to barely $60/barrel. This has meant under-recoveries — explicit and implicit subsidies to consumers — of a whopping Rs 2,45,000 crore. So, the government has
We\’re really subsidising Opec Read More »
Crude oil costs $135/barrel globally, but Indian prices of petroleum products have long been linked to barely $60/barrel. This has meant under-recoveries — explicit and implicit subsidies to consumers — of a whopping Rs 2,45,000 crore. So, the government has
We\’re really subsidising Opec Read More »
If I were Prakash Karat, I would topple the Congress-led UPA government in the monsoon session of Parliament starting in July. Why? Because the Congress faces a terrible election climate right now, which might improve by May 2009, when the
Will the Left topple the government? Read More »
The report of the Commission on Growth and Economic Development, headed by Nobel Laureate Michael Spence, gleans lessons from 13 countries that averaged 7% economic growth for more than 25 years. India crossed 7% only recently, but most people assume
Knee-deep in the 12 deadly sins Read More »
Oil hit a record $135/barrel last week, up from $51/barrel in January 2007. Taking a longer four-year perspective, the price of the crude is up 230%, but Indian petrol is up only 35%, diesel 46%, and kerosene not at all!
Oil subsidies are bogus socialism Read More »
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