The Kelkar Committee report has painted a dire picture of government finances. It emphasizes the need to phase out unwarranted subsidies (such as those on diesel, cooking gas and urea) while maintaining warranted subsidies (on education, health, food) and targeting […]
Raising prices sensibly can reduce inflation Read More »
Without infrastructure, an economy cannot grow. Industry and services cannot expand without highways, electricity, ports and airports, rail links and pipelines. The 12th Plan (2012-17) projects infrastructure investment of a trillion dollars. Alas, infrastructure has hit a wall, and been
Infrastructure crisis endangers future growth Read More »
The Comptroller and Auditor General\’s ( CAG) estimates of government losses and corporate gains have stirred much controversy. Supreme Court Chief Justice S H Kapadia attempted to elucidate valuation principles in a recent speech. He reportedly said, \”Today, a number
The Comptroller and Auditor General\’s ( CAG) estimates of government losses and corporate gains have stirred much controversy. Supreme Court Chief Justice S H Kapadia attempted to elucidate valuation principles in a recent speech. He reportedly said, \”Today, a number
Across Asia, including China, foreign retailers have proved a blessing, providing consumers with cheaper wares, and upgrading the technology of local producers to make them globally competitive. Only in India do opposition parties want to protect the aam bania against
Cheap Chinese imports can be good for us Read More »
With less than two months to go for the US presidential election, most opinion polls suggest that Barack Obama is a clear favourite to beat Republican challenger Mitt Romney. A Gallup poll last Thursday gave Obama 50% of the popular
US electoral college maths favours Obama Read More »
In Washington DC, a fellow bus traveller asked about my job. I said I was an economist. \”Oh\” he said in disgust \”you economists don\’t know nothing.\” This was a cruel, yet accurate comment. The world is staggering under multiple
Why we need better economics Read More »
There was much cheering last week when our cricket Test team demolished New Zealand . Yet the truly great Test and victory was in the Gujarat High Court, which imposed stiff sentences on perpetrators of the Naroda Patiya massacre of
The XI that won the Gujarat Test Read More »
Opposition parties want Manmohan Singh’s head for supposed corruption in 57 coal blocks that were allocated, not auctioned. The government is under pressure to cancel the allocations. That would be politically, legally and economically wrong. Politically, it will look like
Don’t cancel coal blocks, levy high royalties Read More »
Indian politics today seems driven less by politicians and more by the Supreme Court and Comptroller and Auditor General (CAG). What does this imply for Indian democracy? The answer is that we are seeing a revolt by India\’s institutions against
CAG, SC, EC: institutions up in arms Read More »
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