Three parallel developments that caught media attention over the last month point to the restoration of the hegemony of Finance Capital in the years since the 2008 crisis. They also reveal the likely consequences of the neoconservative backlash, led by…
The World Bank and the IMF have started a new trend of late, of taking “progressive” positions in their publications even while insisting on the same old “conditionalities” in policy negotiations with particular countries. In accordance with this new trend…
The ongoing review of the Fiscal Responsibility and Budget Management Act 2003, by a Committee set up by the central government, has once again brought to the fore the vexed question of whether limits should be set by law to…
In an acceleration of a trend towards mega-mergers in the agribusiness area, German pharma and agrochemicals major Bayer has announced an all-cash $66 billion deal to take over American seed major Monsanto. To clinch the deal, Bayer raised its initial…
After a recent meeting of the Empowered Committee of Finance Ministers, Arun Jaitley announced that barring Tamilnadu all other state governments had favoured the introduction of the Goods and Services Tax (GST). What he meant by that remark was not…
An absurd debate has been going on for some time in India. On the one side are those who blame Raghuram Rajan, the governor of the Reserve Bank who has just decided not to seek an extension of his term,…
Skill development and training are two terms that are greatly beloved of policy makers – and indeed of analysts in general – as they seem to present easy solutions to so many labour market concerns. It is commonplace in India,…
In the final stretch of his tenure as Governor of the Reserve Bank of India, Raghuram Rajan chose to make one more effort at revving up India’s bond markets. A number of measures aimed at galvanizing the debt market, culled…
On August 9, RBI Governor Raghuram Rajan released the last bi-monthly monetary policy statement that would be drafted under his leadership. No changes were made: the benchmark ‘repo’ rate was kept at 6.5 per cent, the cash reserve ratio at…
The author in this article takes a second look at the biggest tax reform in a long time and points out where the rationale for the goods and services tax is flawed. Click here to read the full article.
