Even as many developing countries conserve their foreign exchange reserves to guard against a nasty worsening of the economic environment, the Reserve Bank of India—the country’s central bank—has sold more than $40 billion from its reserves in the last nine months …
For those who wonder why India has not joined a “coalition of the free” against Russia, the news is that India is not that free anyway. It has fallen from 142nd to 150th position in the World Press Freedom Index …
India Slips to 150th Position in Press Freedom Index Read More »
There are many reasons why India has abstained in UN votes on Ukraine rather than join the West in condemning Russia. First, India prizes its non‐aligned traditions. Second, India has always viewed Russia (and the USSR earlier) as an old …
India boasts that 40% of its power capacity is now based on renewables. But competition between political parties in election pledges has resulted in more and more states providing free electricity to domestic consumers. This subsidizes rather than taxes carbon. …
Free Domestic Electricity Threatens State Finances in India Read More »
In Alice in Wonderland, the Red Queen declares, “Sentence first, verdict afterwards.” That resembles media reports (including a long one in the Washington Post) on the flash flood in the high Himalayas in February that destroyed two hydel projects, killed at …
For over four months, agitating farmers have surrounded India’s capital, New Delhi, often blocking major roads and railway lines. They stormed Delhi’s fabled Red Fort on India’s Republic Day, January 26. The protesting farmers want the repeal of three farm …
Karl Marx was wrong about many things but right about one thing: the revolutionary way capitalism attacks and destroys feudalism. As I explain in a new study, in India, the rise of capitalism since the economic reforms of 1991 has also attacked and …
How Capitalism Is Undermining the Indian Caste System Read More »
To make his coming visit to India meaningful, President Obama needs to combat the impression that India fares better with Republican presidents than Democratic ones, because the latter are instinctively more protectionist. In his quest for economic recovery, he has …
How President Obama Can Make His India Trip Meaningful Read More »
Sometimes the twists and turns of socialism yield unwitting libertarian outcomes. Indian politicians, who remain socialist at heart despite some recent liberalization, have just enacted a Right to Education Act, giving every child in the 6–14 age group the right to …
Despite being hit by the global recession, the ruling Congress Party‐led coalition swept to an unexpected victory in India’s general election, mainly because of rural prosperity in a country where 70 percent of the population is rural. Good monsoons and high …
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