For years I have demanded faster, stronger action against crooked politicians and businessmen. But I stand abashed after the CBI fiasco on the allotment of a coal block to the Birlas. The aim was to nab crooks. Instead the CBI […]
CBI needs skill, not just speed Read More »
India’s industrial production and GDP have been plunging for three years. But one person believes that major revisions are going to make the data look much better. Pronab Sen, former chief statistician, thinks that the current GDP growth estimate of
Industrial growth likely to be much higher than estimates, suggests IIP data Read More »
Are stock markets irrational, driven by greed and fear, subject to euphoria and panic? Or are they highly efficient indicators of intrinsic value? Both, says the Nobel Prize Comittee for Economics, with no sense of contradiction. It has just awarded
Nobel Prize winners say markets are irrational, yet efficient Read More »
Narendra Modi’s rise owes much to his image as a decisive, efficient go-getter. A recent magazine poll showed 86% of new voters wanting an “authoritative and decisive” prime minister. They hate the corrupt bumbling and drift of the UPA government.
Obama shows why India must not seek a presidential system Read More »
Newspapers carry alarmist headlines about the partial shutdown of the US government because of a budget impasse over Obamacare. Yet, the markets have moved only slightly. Veteran traders yawn with amusement: they know the US has had such shutdowns before,
After years of consideration, the government has come out with a disappointing shale gas policy. The public sector companies, ONGC and Oil India, will be allowed to drill for shale oil and gas in blocks they already have, but fresh
Time to get cracking on fracking Read More »
Indians don\’t realise how exceptional they are in never even thinking about the army when discussing politics. In many developing nations, the army casts a long shadow on politics even when it does not rule directly. Pakistan is a classic
Pakistan shows why military ultimately fails to govern Read More »
The rupee has bounced back, the stock market has soared, and finance minister Chidambaram is smiling again. This will not last, because there’s no clear strategy to remedy the economy’s structural weaknesses. One big structural problem is the creation of
Clearing projects is not the Cabinet’s job Read More »
Economic reforms should be clear and simple, not cluttered with endless terms and conditions. This has long been forgotten by the UPA government, which tries desperately to ensure that any change satisfies several vote banks simultaneously, supposedly to ensure inclusion.
Reforms: clear the clutter Read More »
The Congress party is feeling good after passing its two new bills on food security and land acquisition in Parliament. It believes it has occupied the moral high ground, and left the BJP making vague, unconvincing objections. The Congress hopes
Bills won’t win polls Read More »
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