For years, the World Bank, IMF and Indian observers (including me) have warned that India’s fiscal deficit is too high and will soon lead to disaster. So too did Martin Wolf and Ed Luce in a recent article in The […]
Why India survives high fiscal deficits Read More »
I am shocked and awed. The Iraq war seems as good as over in just three weeks, half the length of the 1991 Gulf War. The US says it wants to set up a democracy in Iraq. That cannot be
Iraq Needs Free Press, Free Markets Read More »
WASHINGTON: India has been joined by China and Brazil in prepaying loans totalling $7bn from the World Bank, putting it in the embarrassing position of having a huge net inflow of funds from developing countries. To counter this, the World
World Bank finds no one to aid, turns to core Read More »
After booming on hopes of a quick Iraq war, the stock markets have now slumped in the expectation of a long and messy war. The US wants to send and deploy an additional 100,000 soldiers in Iraq, and the logistics
What Iraq means for investors Read More »
Wars are prime time for hypocrisy. The bogus emotion and rhetoric displayed by pro-war factions is fully matched by that of anti-war factions, and bystanders. The prime hypocrite, of course, is the USA. Arab TV stations have broadcast pictures of
Hypocrisy, everybody? Read More »
Many Indians (including me) are outraged that the USA is ignoring the UN and world opinion on Iraq. Yet do not be surprised if the same Indians (including me) lose that sense of outraged morality if the US wins a
Victory changes everything Read More »
Just one fortnight after presentation, the budget looks distant, almost forgotten. All eyes are now on Iraq. Without question, what Bush and Saddam Hussein do is infinitely more important for the economy than what Jaswant Singh does. What are the
War scenarios from the Gulf Read More »
We are used to thinking of the USA as the economic superpower of the world, and the dollar as the strongest currency. Yet the dollar has weakened against the rupee in the last six months, and weakened even more (by
Is the dollar in danger of a collapse? Read More »
For three decades after independence, India so consistently averaged GDP growth of 3.5 per cent per year that it came to be called the Hindu rate. Then in the 1980s India graduated to the range 5-6 per cent, though unsustainably:
The neo-Hindu GDP growth rate Read More »
The media are full of stories about US war plans. Apparently it will drop more bombs in the first three days of the war than in the entire Gulf War of 1991. It will occupy the northern and southern regions
Saddam\’s war plan Read More »
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