Collapsing economic growth, high inflation and corruption explain why the Congress is heading for its worst defeat ever. GDP growth averaged 9% for much of UPA rule, but has halved to 4.5% in its final two years, crushing incomes and […]
UPA’s 10-year averages are just statistical spin Read More »
Prospects of a Modi election victory have induced a dollar flood into Indian bonds and equities. The rupee has strengthened to below Rs 60 per dollar. If the strong rupee was caused by an export boom, everyone would be delighted.
Short-term capital inflows boosting the rupee will render exports uncompetitive Read More »
Last week, I wrote on how not to catch corporate and political crooks. Readers naturally asked, what is the right way? Some analysts say India has only 1.3 policemen per 1,000 citizens against 2.5 in the US, 5.3 in Turkey
To catch a crook: Three lessons from the Rajaratnam case Read More »
The Supreme Court seeks to ensure a strong, independent Central Bureau of Investigation (CBI) to check corruption. Sadly, the CBI is using this enhanced power to pursue frivolous charges against honourable officials. This simply demoralizes and paralyses the bureaucracy, without
CBI follies: This is no way to check crony capitalism Read More »
Has Modi fired up the stock markets? The Sensex has leaped up from 18,000 last August to almost 22,000. Many analysts say another bull run has begun. The markets think Modi is almost certain to come to power in May,
Modi euphoria on Sensex? Voters are selling, foreigners buying Read More »
Politicians make policy, bureaucrats implement them. Trust and harmony between the two can produce amazing results. If trust and harmony decline, so do decision-making and economic performance. Bureaucrats can function brilliantly if they get clear signals from their political bosses,
Why babuji goes too slow Read More »
When the World Trade Organisation (WTO) was created in 1995, critics protested that India must not join this vehicle of US imperialism, whose tough patent rules would ruin India’s agriculture and pharmaceutical industry. They could not have been more wrong.
WTO becomes India’s protector, not predator Read More »
Opinion polls predict the worstever defeat for the Congress in the coming election. The party swore by the aam aadmi for a decade, promising him succour through a rights-based approach . Alas, the aam aadmi rejects this categorically. In 2009,
Why Sonia’s right-based approach was rejected by the aam aadmi Read More »
Aam Admi Party chief Arvind Kejriwal has filed an FIR (first information report) accusing petroleum minister Veerappa Moily of conspiring with Mukesh Ambani to raise the price of natural gas, bestowing billions of windfall profit on Reliance Industries Ltd. Now,
FIR against Moily? As absurd as one against Kejriwal Read More »
January 30, the death anniversary of Mahatma Gandhi, drove home the growing irrelevance of the father of the nation. In West Bengal, not a single state cabinet minister attended the formal ceremony held by the Governor. In Mumbai, mayor Sunil
Ambedkar vs Gandhi: The risks of village empowerment Read More »
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