Exit polls suggest an absolute majority for the BJP-led National Democratic Alliance (NDA). If so, India will have a strong Modi-led government, free from fickle allies. What will be the outcome for Indian politics, the economy and markets? No party […]
What a strong Modi govt implies for markets & economy Read More »
I have long been allergic to mainline political parties. On election day, I typically go to the polling booth, look at the photos of candidates, and vote for the bestlooking independent. I did not vote this time because I was
Even in defeat, Aam Aadmi Party still matters Read More »
A key reason why India’s economic growth has halved from 9% to 4.5% per year is that, in search of inclusive growth, the courts and legislatures have increasingly made legitimate business difficult. It now takes 12 years to open a
Well-intentioned laws, courts cripple growth Read More »
All my life I have opposed nuclear bombs. I have argued that such bombs are basically unusable; that, instead of ensuring security, they risk escalation of small conflicts into disasters; and that they lead to undesirable macho foreign policies. Most
Disarmament is for wimps. Go get your nukes if you can Read More »
This year is the 100th anniversary of World War I, and the 50th anniversary of the US escalation of war against North Vietnam. In both cases, small incidents escalated into horrific wars because of jingoistic bravado and lack of cool
Modi should shun jingoism & must learn from WW I and Vietnam War Read More »
Does Narendra Modi actually have a great Gujarat model, or just wellpackaged hype? Critics say that Gujarat has grown fast, but some others have grown faster. The Raghuram Rajan Committee on development indicators says Gujarat’s social indicators are just middling.
Gujarat is India’s top state in economic freedom Read More »
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 »
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