Prime Minister Modi is a “lucky General”. At a time when India seemed most vulnerable, God has chosen to level the field a bit by hitting the global economy and China with a pandemic which is sure to slow growth even further making us look relatively better. The misery of others often comes with collateral […]Read More Red lining budget FY 2021
The sad truth is that global economic stability and growth, including for India, now depend on the unstable predilections of a global party-pooper, who is the President of the United States till at least the third quarter of FY 2021. The International Monetary Fund has said as much, albeit in “diplomatese” — not surprising as […]Read More Budgeting by band-aids must end
The faux London clouds and cold plaguing Delhi over the past two months lifted and bright sunlight came tumbling through today with the arrival of the Brazilian President– lifting spirits around. Part of the lift was triggered by the enervating sight of the young men and this time loads of young women in uniform, who […]Read More Republic Day 2020 – A turning point?
It can’t be very gratifying being the Finance Minister when the International Monetary Fund is calling out India for being a growth laggard pulling down world growth in 2019 to 2.9 per cent (from 3.3 per cent forecast earlier) and in 2020 to 3.4 per cent (from 3.6 per cent forecast earlier). International Financial Institutions […]Read More Is India the global fall-guy?
Only short public memory can explain the agitation around growth (in GNI constant terms) slipping from 6.8 per cent last year to an expected 5 per cent this fiscal – a year on year reduction of around 26.5 per cent in the growth rate. Another red line we have crossed is that the growth rate […]Read More India’s choppy economic growth
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 India
In 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 budget
What 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 Legacy
So 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 2020