The big picture emerging from the budget is substantial continuity in economic policy, notwithstanding rhetoric about a new electoral mandate. The Left Front has not captured the government, as was feared by investors fleeing the stock market on May 17. […]
The big picture: Continuity in policy Read More »
Daridra Narayan in a three-piece suit. That sums up the \”reforms-with-a-human face\” budget presented by Finance Minister Chidambaram on Thursday. This is no dream budget, just an effort to flesh out the Common Minimum Programme. Its only dream is to
Daridra Narayan in a three-piece suit Read More »
Finance minister Chidambaram will be looking for every possible way of financing the big increases promised in education, health and employment in the Common Minimum Programme. The CMP rules out easy money from the sale of majority stakes in profitable
How FM can raise Rs 6,000 crore Read More »
Will finance minister Chidambaram produce another dream budget? Will he transform bears into bulls on the stock market? Such questions leave me smiling at two major illusions pervading our society. The smaller illusion is that the stock market is the
Watch out for the dirty bomb Read More »
The new conventional wisdom, after the general election, is that we must do more for agriculture. Politicians are determined to increase public investment in agriculture. Agricultural credit is to rise by a whopping 30% this year. Power tariffs have been
A return to food mountains? Read More »
Of all the surprises to come out of general election, the most delightful one is that Narendra Modi might be ousted as chief minister of Gujarat. Two years ago, when he won the Gujarat state elections by a landslide, Modi
Did Modi really sink the BJP? Read More »
The myopia of the most intelligent politicians never ceases to amaze me. Many chief ministers have interpreted the results of the general election as an irresistible voter demand for free power for farmers. Andhra Pradesh and Tamil Nadu have lowered
Free power is not free Read More »
There is a huge but false assumption underlying much of the debate on the election result and its policy implications. The NDA lost, analysts theorise, because it neglected agriculture, or rural employment, or rural poverty. These armchair conclusions are contradicted
It\’s the states, stupid Read More »
There is a huge but false assumption underlying much of the debate on the election result and its policy implications. The NDA lost, analysts theorise, because it neglected agriculture, or rural employment, or rural poverty. These armchair conclusions are contradicted
It\’s the states, stupid Read More »
My dear Chidambaram, I hear you are asking around for Big Ideas for the budget. Obviously you want to try and repeat your performance in 1997, when your budget was hailed as a dream budget. In 1997, businessmen were ecstatic
Big Idea for Budget 2004 Read More »
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