July 1991 is widely seen as a watershed month in Indian economic policy making. That was when the Indian government openly declared that it was unwinding the interventionist regime which had been in place since Independence, involving controls on economic…
Britain has voted to leave the European Union (EU). And the managers of global capitalism have their hands full addressing the fall-out of ‘Brexit’, even as their efforts to manage the after-shocks of the crisis of 2008 remain unsuccessful. It…
As the Modi government completes two years in office, one of its major economic programmes—the Make in India initiative—that promised manufacturing growth based on exports, is staring at failure. According to the most recent monthly figure available at the time…
Meeting in mid-April on the side lines of the spring sessions of the World Bank and the International Monetary Fund at Washington D.C., Finance Ministers of the G20 countries seemed overcome by a combined sense of despair and fear about…
At the end of March, Indian private sector steel major Tata Steel, flagship firm of the Tata group, announced that it was closing its steel operations in the UK that are reportedly bleeding losses at the rate of one million…
In the immediate aftermath of the 2008 financial crisis and the Great Recession that followed, two countries that were seen as crucial to propping up global economic growth and even ensuring a recovery were China and India. Prior to the…
On February 4, after meetings held at Dubai for security reasons, an IMF team arrived at an agreement with officials from Islamabad, which would permit the release of the last-but-one tranche of $497 million out of an SDR 4.393 billion…
In a curious shift in perception, low and falling crude oil prices are increasingly being viewed as a disadvantage rather than a benefit to the global economy. The spot price of Brent crude has fallen from just above $100 a…
In early January, the NDA-government’s Ministry of Finance sent out two contradictory signals. The first was a statement from Finance Minister Arun Jaitley that increased government spending on public investment would be used as an instrument to revive a sagging…
As 2015 drew to a close the Finance Ministry released its Mid-Year Review (MYR), which summarised the official view of the state of play in the economy after a year-and-a-half of Modi-rule. As expected the MYR begins with the positives,…
