The US Debt Ceiling Debate
Under pressure from globalised finance capital, most countries of the world have enacted legislation fixing the size of the fiscal deficit as a proportion of GDP; generally it is 3 per cent, and in India it is 3 per cent…
India’s GST Experience
At the start of May 2023, the central government released yet another statement exuding optimism about the progress of India’s Goods and Services Tax regime, based on the previous month’s collections. The statement said that monthly goods and services tax…
Threats to the Hegemony of the Dollar
Janet Yellen, the US treasury secretary, has finally acknowledged what has been obvious to most people for quite some time, namely that the imposition of sanctions against countries that the US is hostile to, runs the risk of jeopardising the…
The Current State of India’s Economy
Government officials never tire of repeating that India is currently the fastest growing major economy in the world. What they never mention is the fact that India had witnessed perhaps the sharpest absolute drop in GDP among the major economies…
The Collapse of US Banks
There is nothing mysterious about the reasons for the collapse of the Silicon Valley Bank and the Signature Bank in the United States. There is also nothing mysterious about why the entire banking system of the capitalist world has come…
What Caused the Collapse of Silicon Valley Bank, and is there a Danger of ‘Contagion’?
C. P. Chandrasekhar speaks to us about the Silicon Valley Bank crisis and whether the financial contagion is likely to spread to India and other countries. Last week, California-based Silicon Valley Bank, the 16th largest bank in the United States,…
Analysing the Adani Debacle
It comes close to a fairytale as one starts narrating the meteoric rise and fall of the Adani Group in terms of its changing fortunes or valuations in the market. I think history will reckon this as a singular event,…
Can Investments be Free of Risk?
Recently, a three-judge Bench of the Supreme Court put forth the idea of setting up an expert committee that could recommend ways to protect common investors from market events. The court’s recommendation came soon after the stocks of the companies of…
The Crisis of India’s Oligarchy
Over the past two decades, Indian multi-billionaire Gautam Adani’s close ties to Prime Minister Narendra Modi have helped the Gujarati businessman become Asia’s wealthiest person. Adani’s meteoric rise, which in some ways eclipsed that of his political mentor, also made…
Finance Minister’s Misleading Statement
Finance Minister Nirmala Sitharaman made a misleading statement the other day that is not expected from a responsible member of the union cabinet. Talking about the resource transfer to the states in the recent budget, she said that the magnitude…