The Economic Times

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,

In analysing the Supreme Court judgment upholding the Right to Education (RTE) Act, television channels have focused too much on the 25% reservation of seats in private schools – including famous elite schools – for low-income children. This minor social

India has just a 50% chance of becoming a breakout nation (exceeding expectations of 7% GDP growth) in coming years. So says Morgan Stanley honcho Ruchir Sharma in a fascinating new book, Breakout Nations. There is no better book for

Extractive political institutions (autocracy and empire) lead to extractive economies benefiting elites, and cannot create general prosperity save for limited periods. Inclusive political institutions (democracy, rule of law and rights for all) create inclusive economic regimes with opportunity for all,

Rapid GDP growth is the best antidote for poverty. That is the big message that comes blaring out of the poverty data for 2009-10. Record GDP growth of 8.5% per year between 2004-05 and 2009-10 has reduced poverty at a

Manpreet Badal, former Punjab finance minister and nephew of chief minister P S Badal, broke last year with the Akali Dal, complaining that his entreaties for fiscal discipline were being ignored, and would lead to disaster. He looks foolish today

Fiscal consolidation is the need of the hour, and the finance minister should rationalise subsidies. The best way forward is to end price controls for items like urea and diesel, since these constitute the most irrational, lopsided way of allocating