The Economic Times

Brexit heralds not just Britain’s exit from the European Union but the decline and maybe fall of the 20th century ideal of a liberal, globalised world. It heralds a 21st century ethos based on ultra-nationalism and racist xenophobia, blaming foreigners […]

Even before Brexit, India has suffered Rexit. Raghuram Rajan has announced he will exit as RBI governor when his term ends in September. Every RBI governor since 1992 got an extension. So, Rajan’s case stands out. Global investors widely view

Foreign investors I met in Singapore in May were anxious to know whether Reserve Bank of India (RBI) governor Raghuram Rajan would get a second term. Almost all of them said that billions of dollars would flow out of India

Booms and busts are not aberrations. They are intrinsic to market democracies. Many folks love the idea of steady, uninterrupted progress. This is socialism’s false promise, and helps explain why that philosophy remains attractive to many despite proven repeated failure.

Does GDP growth matter in state elections? A statistical exercise by this newspaper some years ago suggested that if average GDP growth during the incumbent’s rule accelerated compared with the five previous years, there was a 60% chance the incumbent

Six months ago, I wrote a column, ‘Why bother about small interest rate changes in India?’, (goo.gl/7cFp1L, September 16, 2015) that I could reproduce and yet be spot on after the RBI’s cut in interest rates last week. It will

I have welcomed this Budget, but with fingers crossed. First, it may be based on faulty statistics. Second, the global financial typhoon sweeping across emerging markets may make nonsense of all Budget projections. Nominal GDP is projected to grow 11%

Patriotism is the last refuge of the scoundrel. The current rant against ‘anti-national’ slogans at Jawaharlal Nehru University (JNU) highlights the abundance of scoundrels among Indian politicians and television anchors. The notion that there can be only one concept of

Oil has crashed from $110 a barrel to $28 a barrel, and could fall to $20 a barrel. Many other commodity prices have crashed. What is happening, and why? Oil supply has shot up even as demand has slowed. Non-Opec

Indian business has long been represented by Ficci (Federation of Indian Chambers of Commerce and Industry). The new kid on the block is Dicci – the Dalit Industrial Chambers of Commerce and Industry. It boasts of nearly 4,000 members, heralding