Public sector banks are losing huge sums and running up gargantuan bad debts. Defaulters like Vijay Mallya, once politically powerful, are fleeing abroad. India’s banking crisis is fundamentally political, not financial. The left, predictably, blames wicked businessmen, saying the banking

A step forward in gender justice is the Supreme Court’s admission of the petition of a Muslim woman, Shayara Bano, pleading that polygamy and oral triple talaq —saying talaq thrice in succession — violate fundamental human rights, and hence are

The liberals who rushed to defend Kanhaiya Kumar should be more outraged by the suspension from the Maharashtra assembly of MLA Waris Pathan, for refusing to say ‘Bharat Mata ki jai’ (victory to Mother India) as a test of his

The government is suffering from schizophrenia. Its Make in India campaign aims to convince global and Indian manufacturers that India is a business paradise. But recent measures (on tax, drug controls and cotton seeds) suggest the government is arbitrary, populist

The analysis of Arun Jaitley’s Budget has focused on issues like the fiscal deficit, boost to infrastructure, and sundry tax measures. Yet in terms of life and death, by far his most important proposal is the scheme to provide LPG

Arun Jaitley’s budget has a potentially revolutionary proposal, which he called “asset recycling” in an interview. The government constantly lacks funds for badly needed infrastructure. Jaitley’s solution is for government undertakings to routinely sell existing assets, and use the sale

The aspirational classes who drove Narendra Modi to his 2014 victory may be turning against him. The Jat agitation in Haryana that took 19 lives last week was the latest movement of once-powerful rural elites lagging in the race of

Once the Budget was the biggest event in February. Now it is just another event, not even as important as a student rally in Jawaharlal Nehru University. No longer does the Budget spell out radical economic policy changes. It has