A tax on forex transactions may prove a godsend to the finance minister, should the sanctions force him to have a supplementary budget, say Swaminathan S Anklesaria Aiyar The Asian currency crisis has revived interest in the Tobin tax, a […]

Finance ministers, industrialists, bankers all pay lip service to price stability. Yet they all gain so much from inflation that they have institutionalised it. In the 1950s, inflation was negligible. But since the mid-1960s it has averaged 8 to 9

After its nuclear tests, a triumphant Bharatiya Janata Party proclaims that saffron means toughness, courage, unwillingness to be eked around by mighty foreigners. It means standing up for your principles regardless of the cost of sanctions. We demand recognition as

Sorry folks, but Pakistan has spoiled our nuclear celebration. You thought our bomb made us a great power on par with the USA? No, we remain on par with Pakistan. You thought we had become high-tech geniuses? Sorry, we are

People are still debating the merits of India\’s nuclear tests, but that matters little now that the deed is done. What has been tested can be detested, but not detested. The relevant question is, where do we go from here?

India\’s five nuclear blasts have led to a proliferation of hype and myths. Fantastic gains, say some. Terrible costs, say others. Don\’t believe either. Myth No 1: The nuclear tests make India a full member of the nuclear club. Not

The thugs are taking over in the name of religion. For decades I have told foreign friends that MF Husain epitomises India\’s essential secularism. Here is a Muslim painter who has delved deep into Hindu mythology and folklore analysed these

Should the census in 2001 ask people to specify their caste? Yes, say the Census Commissioner and Home Minister. Definitely not, say others indignantly. I am agnostic on this issue. I see some technical reasons to question the inclusion of

Should the census in 2001 ask people to specify their caste? Yes, say the Census Commissioner and Home Minister. Definitely not, say others indignantly. I am agnostic on this issue. I see some technical reasons to question the inclusion of

At the annual World Bank Conference on Development Economics this week, Jeffery Sachs and John Luke Gallup of Harvard presented a paper highlighting the importance of geography in economic outcomes. They looked at data for 150 countries and noted how