The euphoria around emerging markets faded a while ago, but somehow the hope persists that economies in Asia can buck the global trend and grow fast enough to create an alternative growth pole. It is true that the global financial…
The euphoria around emerging markets faded a while ago, but somehow the hope persists that economies in Asia can buck the global trend and grow fast enough to create an alternative growth pole. It is true that the global financial…
The Indian government’s effort to resolve by force its banking crisis with the help of the Insolvency and Bankruptcy Code (IBC) has hit yet another roadblock. Even when major secured creditors agree to a resolution plan, because they have to…
The “Gross Domestic Product” is a concept rooted in an epistemic position which is intrinsically incapable of recognizing the existence of a “surplus” in society. A simple example will make this clear. Suppose we have an agrarian economy in which…
My attitude to the NYAY scheme of the Congress is similar to my attitude to a benevolent monarchy. While a benevolent monarchy is better than a tyrannical one, any monarchy is repugnant compared to a republic. Likewise compared to the…
The minutes of the Board meeting of the Reserve Bank of India just prior to the announcement that currency notes of Rs.500 and Rs.1000 denomination were being demonetized are now available in the public domain, thanks to an RTI query.…
Late in February 2019, the GST Council, prodded by the Centre, decided to modify Goods and Services Tax rates applicable to the housing sector. The declared intention was to reduce prices that home buyers would have to pay for their…
With Rahul Gandhi’s announcement recently at Raipur that his Party had taken a “historic decision” to introduce an income guarantee scheme for the poor, and with the general anticipation that the Modi government’s last budget will also announce an income…
The attacks by the Modi government on many of India's institutions have been noted, but the destruction of India’s statistical system was not adequately recognised or condemned. That is, not until the latest revelations on how the Government is refusing…
For some time now there has been a debate in the country that is as esoteric as it is misleading, namely whether the Reserve Bank of India’s reserves should be drawn down by the government to finance its expenditure. On…
