This is a silver jubilee to remember. The economic reforms launched by PV Narasimha Rao in July 1991 have transformed India so much that it’s difficult to recall how bad things used to be. Back in 1991, lndia pretended to […]
25 years of economic reforms: From super-beggar to potential superpower Read More »
The government hopes that Parliament will pass a Constitutional amendment for a Goods and Services Tax in the coming monsoon session. Attempts for over a decade have failed to ensure a two-thirds majority in both Houses. Does this mean India
Changes like Brexit need a super-majority Read More »
After attacking Raghuram Rajan as mentally un-Indian (he is a US green card holder) and unfit to be governor of the RBI, Subramanian Swamy has demanded the sacking of chief economic adviser Arvind Subramanian. Arvind’s supposed sins include his being
Swamy plays spoiler as Modi woos diaspora Read More »
Brexit heralds not just Britain’s exit from the European Union but the decline and maybe fall of the 20th century ideal of a liberal, globalised world. It heralds a 21st century ethos based on ultra-nationalism and racist xenophobia, blaming foreigners
Brexit may mean end of globalisation as we know it; stormy days lie ahead Read More »
Even before Brexit, India has suffered Rexit. Raghuram Rajan has announced he will exit as RBI governor when his term ends in September. Every RBI governor since 1992 got an extension. So, Rajan’s case stands out. Global investors widely view
Rexit: This government has just shot itself in the foot Read More »
When Donald Trump started his zany campaign —laced with racism, xenophobia, nasty remarks about women, and endless falsehoods — most analysts said he could not possibly win the Republican primaries. Yet he did so easily. So, the very analysts who
Trump will not just lose, he’ll be thrashed Read More »
Are India’s statistics just cooked up to give them a good flavour? The question has been raised by critics after the news that statistical “discrepancies” in the January-March quarter were as high as 4.8% of GDP. Critics say this casts
Is govt cooking up economic growth data? Read More »
Foreign investors I met in Singapore in May were anxious to know whether Reserve Bank of India (RBI) governor Raghuram Rajan would get a second term. Almost all of them said that billions of dollars would flow out of India
The markets are not irrationally in love with RBI chief Raghuram Rajan Read More »
The BJP’s loose cannon Subramanian Swamy has launched a scathing attack on RBI governor Raghuram Rajan, accusing him of tight money policies that have ruined Indian industry, saddled the banks with bad debts, and slowed economic growth. Many industrialists also
If Rajan exits, so will billions in investment Read More »
Booms and busts are not aberrations. They are intrinsic to market democracies. Many folks love the idea of steady, uninterrupted progress. This is socialism’s false promise, and helps explain why that philosophy remains attractive to many despite proven repeated failure.
Why leaders should change every decade Read More »
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