India is currently the world’s fastest-growing major economy. Hurrah. But the combined fiscal deficit of the Centre and states exceeds 10% of GDP, horrendously high by international standards. High fiscal deficits can spur high growth for some time, but then …
A global recession will pose enormous fiscal challenges. India must be prepared Read More »
Democracies prize free speech and criticism of public figures. Even false criticism of public figures does not qualify as slander in the US and other countries unless accompanied by malice. This can be irksome to politicians. Former Tamil Nadu chief …
Netas should not go overboard on defamation suits Read More »
There is not the slightest chance that the world has a hard landing and India does not. We are only 7% of the global economy; the idea that we will stand out is a fantasy to me,” says Swaminathan Aiyar, …
Deeper US recession spells big trouble for India, says Swaminathan Aiyar Read More »
The storming of the presidential palace and ignominious flight of President Gotabay Rajapaksa from Sri Lanka was so dramatic that numerous theories were spun to explain away a routine economic bankruptcy. This arose from years of high fiscal deficits (government …
Two months ago, I wrote in these columns of how commodity prices had shot up after Russia’s invasion of Ukraine in February, but then receded considerably by mid-May. I said the good news was that inflation had probably peaked, while …
Crashing food prices ease fears of starvation but not of a market crisis Read More »
In India, Global Capability Centres (GCCs) have escaped attention because MNCs do not publish separate balance sheets for offshore operations. However, Nasscom projects that by 2025 India could have 2,000 GCCs employing 2 million and generating $60 billion. De-globalisation has …
If there was a Supreme Court judgment that cried out for reversal, it would be the one on arresting human rights activist Teesta Setalvad and former police officer RB Sreekumar. The verdict has been castigated by hundreds of eminent persons …
Teesta case: When did courts start demanding arrests? Read More »
The latest projections of the IMF, even with the downward revisions is still showing India as being the fastest growing economy. When everybody else is going down, let us not pretend that we can become a 10% economy. If we …
Rupee nearing 80? Swaminathan Aiyar on why we shouldn’t worry too much Read More »
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