The Modi government has an unerring instinct for bungling in economic matters. It has come out with a “fiscal stimulus” for tackling the current economic slowdown that will actually make matters worse. After successive interest rate cuts which were predictably…
In another instance of lack of clarity in economic decision making, the NDA government seems to be drifting into signing on to the Regional Comprehensive Economic Partnership (RCEP) Agreement potentially involving 16 Asia-Pacific partners. Under discussion for 7 years now,…
I am often asked: why has the Left, so powerful less than a decade ago, suddenly got eclipsed? The question is pertinent. True, the eclipse of the Left is mainly in the electoral arena, and the Left’s strength has to…
Jammu and Kashmir was the first state in the country to introduce land reforms. There were two components of J&K’s land reforms. First, the system of absentee landlordism,that had prevailed during the Maharaja’s time was completely done away with. The…
The Indian establishment’s obsession with GDP growth and stock market performance to the exception of all else, especially economic and social deprivation, is coming home to roost. Recent media reports on the state of the economy have highlighted three supposedly…
In justification of the move to end Kashmir’s special status, Amit Shah in his speech in the Rajya Sabha brought in the question of Kashmir’s “development”, arguing that closer integration with the rest of India will bring in much investment…
One of the immanent tendencies of capital is to commoditize every sphere of life; and under neo-liberal capitalism where the immanent tendencies of capital are given full play, we find the sway of commoditization reaching into new areas. The commoditization…
First it was the Finance Secretary who said that if the government borrowed less then more savings would be available for the private sector to borrow. Then it was the Deputy Governor of the Reserve Bank of India who talked…
While the neoliberal focus has been on attempts to “shrink the state” on the grounds of corruption and inefficiency, sensible people have long recognised that high levels of public employment tend to be associated with better quality of life for…
Fifty years ago on July 19, 1969, fourteen large private banks had been nationalized. Ironically the Golden Jubilee of that event, which had been a significant step in the process of building up a new financial architecture for the country,…
