China’s stiff resistance to write-offs has held up debt relief to countries like Pakistan China’s Belt and Road Initiative (BRI) is the greatest global infrastructure initiative in history. China has lent over one trillion dollars to Third World countries, becoming […]
Don’t buy friends: The lesson from China’s BRI trouble Read More »
Expanding economic ties with China will give us greater leverage than populist bans At a January top-level official meeting, I was among the economists asked to sum up in just three minutes their long-term strategic advice to the government. Clearly
China: Sleeping with the enemy has advantages Read More »
If you are a Muslim in India participating in a student agitation, you can be locked up for years without being convicted. Sharjeel Imam and seven other students were arrested in 2019 under anti‐terrorism laws for supposed violence in an agitation against
A Human Rights Victory in India, but with Great Difficulty Read More »
Globally, similar corporate revelations occur periodically. They highlight the shortcomings of investment banks and credit agencies that give good marks and encourage massive investment in companies without sufficient scrutiny. The Hindenburg report is an indictment of global credit agencies and
The Adani affair shows the unwitting virtues of the globalisation of scrutiny Read More »
The FM has avoided short-term populism, but with interest payments rising over 40%, they are eating into resources that would be better spent elsewhere Nirmala Sitharaman’s Budget has been widely hailed for achieving what can be called an impossible trinity
How interest payments swallow nearly half of India’s revenues Read More »
The budget has taken advantage of the fiscal space created by the end of the Covid free-food programme, lower fertiliser subsidies, and a sharp reduction in MGNREGA outlay. This has made possible the reduction of ₹37,000 crore in direct taxes.
Finance Minister delivers balanced Budget, minus freebies Read More »
The world economy is slowing and may experience a major recession later this year. In earlier recessions, India was hit hard, but the Economic Survey is confident that India has become a resilient economy, far more so than others, that
Resilient India can brave global headwinds Read More »
FM can increase the nominal value of benefits, but it will be less than the rate of inflation, resorting to what economists call money illusion Will we have an election budget, replete with goodies for sundry vote banks? Since the
In semi-election budget, expect semi-revdis Read More »
The Indian government has banned a BBC documentary series, India: The Modi Question, blocking it on Youtube and other digital outlets. The official reason—that it “undermines the sovereignty and integrity of India” and could affect public order and India’s relations with foreign
Instead of flexing our military might, Republic Day should become a day to celebrate the ideals enshrined in the Indian Constitution On January 26, the armed forces will spearhead the Republic Day parade near India Gate. Soldiers will march past to the
Reimagine Republic Day with less guns, more Gandhian approach Read More »
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