As I explained a fortnight ago, GDP can be regarded as the sum of all incomes, or the sum of all value added in production by citizens. The two are equal. So, we could tax all income through income tax […]
VAT as a trade weapon Read More »
Indian industrialists are terrified of competing with China. But fears are also evident in the once-miracle economies of south-east Asia. East Asian countries like Korea and Taiwan have long graduated out of labour-intensive goods into high-tech ones, and do not
How to compete with China Read More »
Too many journalists have proved guilty of projecting wishful thinking as analysis. Despite widespread media criticism, Narendra Modi won a landslide victory in Gujarat. Many journalists are now trying to explain lamely why they were wrong, and some hope he
Narendra Modi, future PM Read More »
The Kelkar Committee has submitted two reports. One is on direct taxes, levied on incomes and wealth (eg. income tax, corporate tax, wealth tax). The other is on indirect taxes levied on goods and services (eg. excise duty, sales tax).
The alchemy of VAT Read More »
ONE reason why Vijay Kelkar’s reports on tax reform have encountered so much opposition from so many lobbies is that Kelkar has approached taxation as an economist, not a politician. Since he is an economist, I have no quarrel with
Politics versus technocracy Read More »
Since independence, Hindu militancy has looked the biggest danger to our secular fabric. I have spent a long career combating the hate messages of groups like the Vishwa Hindu Parishad. Yet I have a nasty feeling today that Islamic terror
Toward Hindu-Muslim militancy? Read More »
An American-led attack on Iraq seems inevitable. What impact will it have on India? Set aside moral considerations, which are muddled when the battle is between an imperial bully and a mass killer of his own people. Instead, examine where
India will gain from Saddam’s ouster Read More »
HOW dependent is prosperity on economic freedom? The Heritage Foundation and Wall Street Journal compile annually an Economic Freedom Index. This is based on 50 different economic variables grouped into 10 categories — banking and finance, capital flows and foreign
Freedom & growth: No Siamese twins Read More »
NEW DELHI: Amartya Sen complains (TOI, November 19) that I have not quoted him properly and distorted his views on education. Okay, let\’s quote him at length. Sen had written for the Pratichi Trust about a field study in West
Amartya Sen revisited Read More »
Disasters that do not occur can be as remarkable as those that do. During most of my 37 years in journalism, droughts were major disasters that meant spiraling prices, food imports, foreign exchange shortages, and consequent political crises. So it
Why drought matters so little Read More »
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