The Times of India

A housing boom-and-bust has engulfed the US financial sector in crisis. India, too, has experienced a runaway real estate boom, which in a few areas is going bust. The share prices of real estate companies have crashed. Yet, India has […]

Sonia Gandhi should thank Finance Minister Chidambaram for resisting proposals to put part of India\’s foreign exchange reserves into a Sovereign Wealth Fund, which would buy equity shares in top global companies. Such a Sovereign Wealth Fund (SWF)—an idea backed

For 60 years, the International Monetary Fund has bailed out distressed economies, imposing onerous conditions aimed at ensuring that the loans are repaid. The borrowers have often complained that loan conditions violate their sovereignty. The IMF is dominated by rich

RK Pachauri, head of the Inter-governmental Panel on Climate Change, is getting nightmares because of the Nano, Tata\’s Rs 1 lakh car. Sunita Narain of the Centre for Science and Environment (CSE) says that it isn\’t the Nano by itself

After four years of boasting of 9% GDP growth, and talking of overtaking China, Indians are reluctant to believe that the economy is headed for a serious fall. But the stock market has crashed, an indication of the pain ahead.

Political ploys initially hailed as master-strokes often end up as flops. I suspect this will happen to the Rs 60,000 crore farm loan waiver announced in the budget. It writes off 100% of overdues of small and marginal farmers holding

Dear finance minister, You are about to present your fifth and last full budget in your current term. Next year, you can present only a vote on account because a general election is due in May 2009. So, you will

Dear finance minister, You are about to present your fifth and last full budget in your current term. Next year, you can present only a vote on account because a general election is due in May 2009. So, you will

The IMF prescribed severe austerity and economic shrinkage. You chaps have been living beyond your means for years, it said, and have severe structural problems that cannot be reflated away. So, you need bitter monetary medicine (sky-high interest rates) and

The IMF prescribed severe austerity and economic shrinkThey loved Indira Gandhi\’s garibi hatao socialism in the 1970s, which raised the peak income tax rate to 97.75%, along with a stiff wealth tax. At one post-budget press conference, I asked what