As the Bombay Sensex bobs up and down, I am amused by explanations emanating from stockbrokers. Some attribute fluctuations to the latest quarterly results, others to the ups and down of oil prices, still others to Indian economic and political […]
How China makes the Sensex Boom Read More »
Is the tide turning against India? It ran a current account deficit of $ 6.2 billion in April-June 2005, against a surplus of $ 3.3 billion in the same quarter last year. This represents an annualized current account deficit of
Welcome the current account deficit Read More »
When Finance Minister Chidambaram attended the annual IMF-World Bank meeting at the end of September, he had a minor scrap with the IMF Chief Economist, Raghuram Rajan, over record oil and gas prices. Rajan said that rising global demand, especially
How greens raise oil prices Read More »
The UN Committee on the oil-for-food scandal in Iraq, popularly called the Volcker Committee, has revealed that Iraq collected kickbacks on $ 64.2 billion of oil and $ 34.5 billion of “humanitarian imports”. The Indian media have focused on the
India’s Real Effective Exchange Rate (REER) 36-country basket 5-country basket 1990-91 75.58 141.99 1991-92 64.20 117.75 1992-93 57.08 112.38 1993-94 61.59 100.4 1994-95 66.04 100.4 2000-01 66.53 101.18 2001-02 68.43 102.49 2002-03 72.76 98.24 2003-04
Let’s appreciate the appreciating REER Read More »
India’s decision to vote against Iran in the UN has brought protests from left parties and media. They say India is abandoning its independent foreign policy. I am amazed by the mendacity and hypocrisy of such talk. It implies that
Myth of independent foreign policy Read More »
Several reasons, some bogus and some real, have been advanced for the rise in prices of oil and gas since 2003. These include the Iraq war, constrained OPEC production, falling non-OPEC production, speculation by hedge funds, and China’s fast-rising consumption.
Hurricanes stoke the energy crisis Read More »
Oil prices have gone through the roof this year. Yet inflation remains modest, and in recent weeks has decelerated. Year-on-year inflation was just 3.08% in the latest week for which data are available (ending August 20). This contrasts with 6.5%
Oil prices up, inflation down Read More »
The shahtoosh shawl is the most prized of all, beloved of Mughal emperors. It is very warm, yet to soft and fine that it passes through a ring. But buying a shahtoosh shawl today is illegal, and the industry is
Farm chirus, save shahtoosh Read More »
Bihar is among the poorest, most misgoverned states. More Plan funds or public sector projects are not remedies. The state was India’s industrial heartland in the 1950s, boasting the giant Tata complex at Jamshedpur and Dalmia-Jain complex at Rohtas. Bihar
From robber barons to sugar barons Read More »
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