Fiscal murmurs

Economic downturns are cruel. They impose traumatic disruptions in incomes and lives – salary cuts, extended long leave without pay, outright job loss, drying up of business income or bankruptcy.  The cash crunch for government is at crisis levels The government is no different. Revenue receipt of the Union government in May (Rs 0.17 trillion) […]

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Check the Emperor’s health

There are three reasons why governments, like humans, act irrationally rather than the rational economic agents they are supposed to be.  My time is up First, if governments perceive that their time in office is limited there is nothing to be lost by dropping all restraints and doing whatever they wish to – a daring […]

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Sculpting new age power utilities

Electricity is at the core of a digitized India. The digital world was brought home to the average citizen via liberalization of telecom in 1995.  A near universal shift from low access in fixed telephony to near universal mobile connectivity for 1 trillion adults, including net connectivity for two thirds, illustrates the impressive results achieved […]

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Chasing a V shaped recovery

Macho men have a subliminal attachment to the V shape because that is what they are supposed to look like. No coincidence then that virility is also spelt with a V. The sad truth is that a V shape does not come naturally. It is the consequence of lots of grunt work to sculpt away […]

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Keep our economic ammo dry

Looking up, from the bottom, our woes seem never ending however calmly reassuring be the top-down messaging. Ending this dichotomy in perception can only help. First, part the veils which shroud facts. We are in a medium-term downturn at best and a short recession at worst. Some recent eco history – Slowing economic growth not […]

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The price of fiscal exuberance

Politics is heating up. Elections in Bihar loom in November with Assam, Kerala, Tamil Nadu* and West Bengal tightly packed together in May next year, just after the FY 2021-22 budget. Bihar remains rural at heart. Luckily for the BJP, agriculture is the bright star in the Indian economy with expected growth of 3%. Doesn’t […]

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The migrant as folk hero

It is difficult not to eulogize the lonely migrant worker trudging his way home on deserted locked-down highways and sometimes not reaching his destination. Some of this is guilt because of the economic and physical hardships they are suffering. They have tugged at heart strings by risking death or injury just to get back to […]

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