Ostensibly to help farmers, the 11th five-year Plan allocates nearly $50 billion to surface irrigation (dam reservoirs, tanks and canals). This will be a huge waste of money on obsolete, ineffective irrigation concepts dating from the 19th century, says irrigation […]
Wasting $50 bn on major irrigation Read More »
Which of the three candidates for the US Presidency — Hilary Clinton, Barak Obama, and John McCain — will be best for India? Most Indians would opt for Obama or Clinton. But from a policy viewpoint, McCain would be best
India needs McCain as US President Read More »
In 2001, Goldman Sachs came out with the concept of the BRICs – Brazil, Russia, India China – as high-population countries that would dominate the world economy by 2050. At the time, global financiers sneered that this was a facile
How BRICs have changed the world Read More »
Terrified that surging food prices will cause it to lose the coming state elections, the government has come out with an anti-inflation package banning most agricultural exports and slashing import duties on edible oil. Yet the biggest anti-inflation measure is
Fiscal deficit back to record level? Read More »
How serious is corruption in India, and how great an obstacle to fast growth? Most people would say corruption is very high and a serious obstacle to the 10% growth now sought by politicians. A joint study by CMS and
Why does corrupt India grow fast? Read More »
When inflation accelerates, as is the case today, governments across the globe tend to panic and rush out with anti-inflationary packages. The trouble is that governmental panic itself has become a new cause of further inflation. That is why inflation
Government panic stokes inflation Read More »
A housing boom-and-bust has engulfed the US financial sector in crisis. India, too, has experienced a runaway real estate boom, which in a few areas is going bust. The share prices of real estate companies have crashed. Yet, India has
Black money saves financial sector Read More »
How long and hard will the US recession be, and how badly will it affect India? Analysis of that issue has currently been hijacked by the sensational events in the US stock market, mirrored by gyrations in Indian markets. The
US recession a solution, not a problem Read More »
Sonia Gandhi should thank Finance Minister Chidambaram for resisting proposals to put part of India\’s foreign exchange reserves into a Sovereign Wealth Fund, which would buy equity shares in top global companies. Such a Sovereign Wealth Fund (SWF)—an idea backed
Why Sonia should thank Chidambaram Read More »
For 60 years, the International Monetary Fund has bailed out distressed economies, imposing onerous conditions aimed at ensuring that the loans are repaid. The borrowers have often complained that loan conditions violate their sovereignty. The IMF is dominated by rich
Strange rise of Eastern neo-colonialism Read More »
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