The FM said recently that the consensus on economic reform is breaking down, that politicians of all parties are no longer keen on continuing down the path of liberalisation. I have to disagree. There never was any consensus on liberalisation. […]

As a failed prophet, I may not have much credibility when I make stock market predictions. In late 1998 I expressed the view that the US stock market was grossly over-valued, and that a crash in that market could send

We live in the WTO era of rule-based trade aimed at increasing competition and removing distortions. Yet there is an absolutely huge exception to this rule called OPEC (Organisation of Oil Exporting Countries). This cartel brazenly aims to manipulate production

Rarely in history have so many written so much about so little. The visit of President Bill Clinton to South Asia is a minor event which will soon be forgotten. So why are the media carpet-bombing the public with reports

Watch out, Indian MNCs are going to take over American globocorps, predicts Swaminathan S Anklesaria Aiyar. Even as Indian leftists think Bill Clinton is coming to take over India, Indian companies are preparing to take over American ones on a

You must have heard of sweat equity or ESOPs (employees stock options plans). Infotech companies use these to pay employees in kind, in the form of options to buy company shares at a very low price. These are typically phased

After a decade of supposed reforms, the fiscal deficit of the Centre and states is almost as high as in 1991, when India went bust. This is not because of ignorance or stupidity. It is because of eroding governance. A

Yashwant Sinha was expected to present a hard Budget, but has come out with one that is both hard and soft in spots, like an overripe banana. He has shown courage enough to slash food and fertiliser subsidies, tax exports

HIGH fiscal deficits do not automatically mean bankruptcy, but they do constitute an ominous road sign. The Economic Survey ’99-00 implies, without quite saying so, that India may be closer to the brink than optimists in stock markets and chambers

Much heat has been generated by the proposal of the BJP to tinker with Indian history as written by Professors Sumit Sarkar and KN Pannikar. Yet this pales beside the attempt of Mamta Bannerjee to rewrite the history of the