Which of the three candidates for the US Presidency — Hilary Clinton, Barak Obama, and John McCain — will be best for India? Most Indians would opt for Obama or Clinton. But from a policy viewpoint, McCain would be best […]

Terrified that surging food prices will cause it to lose the coming state elections, the government has come out with an anti-inflation package banning most agricultural exports and slashing import duties on edible oil. Yet the biggest anti-inflation measure is

How serious is corruption in India, and how great an obstacle to fast growth? Most people would say corruption is very high and a serious obstacle to the 10% growth now sought by politicians. A joint study by CMS and

When inflation accelerates, as is the case today, governments across the globe tend to panic and rush out with anti-inflationary packages. The trouble is that governmental panic itself has become a new cause of further inflation. That is why inflation

A housing boom-and-bust has engulfed the US financial sector in crisis. India, too, has experienced a runaway real estate boom, which in a few areas is going bust. The share prices of real estate companies have crashed. Yet, India has

Sonia Gandhi should thank Finance Minister Chidambaram for resisting proposals to put part of India\’s foreign exchange reserves into a Sovereign Wealth Fund, which would buy equity shares in top global companies. Such a Sovereign Wealth Fund (SWF)—an idea backed

For 60 years, the International Monetary Fund has bailed out distressed economies, imposing onerous conditions aimed at ensuring that the loans are repaid. The borrowers have often complained that loan conditions violate their sovereignty. The IMF is dominated by rich

RK Pachauri, head of the Inter-governmental Panel on Climate Change, is getting nightmares because of the Nano, Tata\’s Rs 1 lakh car. Sunita Narain of the Centre for Science and Environment (CSE) says that it isn\’t the Nano by itself