Three years ago, all emerging markets including India suffered a huge outflow of dollars. The US Federal Reserve gave notice of ending quantitative easing, leading eventually to higher US interest rates that would attract money from everywhere. The Sensex collapsed, […]
If the rupee drifts down, RBI should smile and do nothing Read More »
The Supreme Court has quashed the West Bengal government’s acquisition of land at Singur (later leased to Tata Motors), holding it was not for a “public purpose”. Lawyers had argued that “public purpose” did not apply to land acquired for
What Sanand tells us about land acquisition Read More »
A bountiful monsoon has led some analysts to hope for 8% GDP growth this year. Incremental reforms across many areas are improving the country’s economic foundations. Yet Modi must worry about his failure to create the job explosion he promised
Robots likely to worsen shortage of good jobs Read More »
Switzerland recently held a referendum on a Universal Basic Income (UBI) for all citizens. Voters rejected the proposal 77 per cent to 23 per cent because of its prohibitive cost and implicit reward for idleness. But the idea has caught
Universal Basic Income is neither desirable nor practical Read More »
For decades I have argued that the railway budget is a colonial aberration that should be abolished. Wonder of wonders, the government now agrees. Arun Jaitley’s next budget will incorporate all railway revenue and spending, so there will be no
End the rail budget, run railways on commercial lines Read More »
Kalikho Pul, who split the Congress party and manipulated a friendly governor to become chief minister of Arunachal Pradesh last February, committed suicide earlier this month. The Supreme Court had struck down the governor’s actions, ousting Pul. Finding the humiliation
Suicide’s no crime, and you can’t drive someone to it Read More »
Analysts have warned for years that India risks being isolated from global trade negotiations because its stalling tactics in the World Trade Organization (WTO) have caused Western powers to lose interest in that organisation. Instead, they have shifted to bilateral
India gets breathing space as regional mega-trade agreements stall Read More »
The Rajya Sabha has just amended the Maternity Benefits Act, mandating 26 weeks of paid leave for mothers against the existing 12 weeks. Many feminists will cheer. But as a feminist myself, I view this as highly flawed. Feminism should
State should foot bill for maternity, paternity leave Read More »
The Constitutional amendment to facilitate a goods and services tax has been called the greatest economic reform since 1991. Political scientists have hailed the new “co-operative financial federalism, and “one nation, one tax, one market”. Trucks in India average just
GST’s a great idea. But making it work is not going to be easy Read More »
The high price of dal is big news. Rahul Gandhi says arhar dal costs as much as Rs 180 a kg, more than even the cost of chicken, and sneers derisively that the BJP chant of ‘Har har Modi!’ should
The future of dal should be high-protein soya — with the right price Read More »
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