governance, political economy, institutional development and economic regulation
India is changing – fast and on the run. Consider first, the distance Modi’s BJP has traveled from being a pro-business, pro-markets, pro small government, quasi “liberal” party in 2014 to becoming indistinguishable from the left in terms of its devotion to “welfarism” and large government. Nobel Laureate Abhijit Banerjee said as much recently in […]
Read More Changing IndiaIn the run up to the annual budget it is said the Prime Minister is engaged in reviewing the working of departments in eleven hour long meetings. The PMs brand managers possibly think this nugget will comfort the nation that all is well, now that the man at the helm has his hand on the […]
Read More Modi takes charge of the budgetWhat sort of a legacy will Prime Minister Narendra Modi leave India? Oh, come on… say those who like him – and there are many- it’s way too early to talk about a legacy. The man is full of energy, strong in the saddle and is likely to be around till 2030. They are probably […]
Read More Modi’s LegacySo now that the wine has run dry; the Christmas cake is mere crumbs and the New Year eve shenanigans are forgotten let’s get back to basics. What is 2020 going to be about? In one word- tough except for large industry and private banks which shall clock handsome bottom lines, their bonus boosted employees […]
Read More Keep the demand fires burning in 2020Good governance day aka Christmas and the late Atalji – India’s poet politician’s – birthday, dawned with some good news. The government unleashed two initiatives to signal its commitment to “jointness” a clumsy European synonym for better teamwork. Both initiatives, curiously, relate to the breaking down of self- sufficient silos in administration to promote better […]
Read More Governance reform baby stepsThe debacle in Jharkhand for the BJP will hopefully resonate more loudly in Nagpur, the RSS’ headquarters, than did the labored breathing of the economy over the past six quarters. After all, politics is the life blood of India. And political dominance follows economic growth and well-being. This was the message of development and jobs […]
Read More Stoke “animal spirits” to let India breathe againA little history on economic growth – a major worry – can help provide perspective to today’s concerns. The incidence of annual downturns in growth (in constant terms) show a marked variance before and after 1990-91 in the Republics short economic history. Jagged growth in the first four decades Over the thirty-nine years prior to […]
Read More External assistance can rescue the economySince the government no longer leaks information to the press on what is about to happen, it is tough to figure out whether the unanimous decision to hold the repo rate (the bank rate) at 5.15 per cent by the Monetary Policy Committee (MPC) on December 6 has the Union government’s blessings. Maybe this is […]
Read More RBI Gov Shakti Das does a U turnIn early 2014 Narendra Modi as a prime ministerial aspirant made three pledges to the people of India, which swept him to power and kept him at the helm. First, the pledge to employ jobless young adults in decent jobs. Second, to shrink the government while increasing governance. Third, to put Rs 1.5 million into […]
Read More Only private “animal spirits” can rescue IndiaDelhi has yet to overcome its Raj inheritance. The capital exudes the complacence of satiated imperialism, decades after the rest of the country has been democratized. The most egregious twin dogmas Two particularly deep-seated Raj dogmas plague Delhi. First, that India has an entitlement to lead the world and second, that our long-term foe is […]
Read More India’s Raj inheritance