The Economic Times

  Today we celebrate the 65th anniversary of India\’s independence. Some mourn it as the 65th anniversary of India\’s partition, which killed a million people and forced 10 million to flee across borders for safety. Utopians wish Partition had never […]

The Reserve Bank has expressed grave worries about the current account deficit (CAD). This hit a record 4.2% of GDP in 2011-12. In January-March 2012, it was even higher at 4.5% of GDP, in stark contrast to just 1.3% in

US President Barack Obama says India\’s investment climate is unsatisfactory and limits foreign direct investment in too many sectors. Time magazine has run a cover story calling Prime Minister Manmohan Singh an \’underachiever\’. The outraged reaction of many Indians can

Politicians love to pick and subsidise industrial winners. Crooked politicians simply seek kickbacks for backing \’winners\’. But clever, honest politicians believe they have the brains and vision to outguess the market. Kapil Sibal, the minister in charge of education and

Prosperity requires a massive shift of labour out of agriculture into industry and services. Agriculture accounts for barely 14% of GDP, but for over half all workers. The average farm size is below two hectares. Farmers simply cannot get prosperous

Prosperity requires a massive shift of labour out of agriculture into industry and services. Agriculture accounts for barely 14% of GDP, but for over half all workers. The average farm size is below two hectares. Farmers simply cannot get prosperous

The fall in India\’s GDP growth to just 6.5% in 2011-12 has caused much moaning and groaning, along with a search for silver linings. The silver linings most often highlighted are falling oil prices – which will reduce both the

In March, I accepted a daunting assignment: to lecture college students in Pune on The Morality of Capitalism. Predictably, this produced many sniggers. Capitalists are crooks, I was told. They milk you for all they can get. They cheat you

The late K Subrahmanyam, celebrated defence analyst, said the Indian government seemed incapable of strategic thinking. Perhaps intellectuals outside the government are no better. This has to be the verdict on an ambitious attempt by some of India\’s finest thinkers,

The late K Subrahmanyam, celebrated defence analyst, said the Indian government seemed incapable of strategic thinking. Perhaps intellectuals outside the government are no better. This has to be the verdict on an ambitious attempt by some of India\’s finest thinkers,