governance, political economy, institutional development and economic regulation
We are all of the “buy and forget” generation, which expects not to be distracted from its primary focus — be it mere survival or amassing wealth; remaining young forever; spirituality; saving the planet from self-destruction or just studying to score a perfect 100 per cent in the exams. This extreme focus leaves little time […]
Read More Can Modi 2.0 cater to the bindaas Vote and Forget generation?“Shoot and scoot” is a phrase made popular by the Bofors field gun – infamous in India, for the alleged corruption in its acquisition. But a winner in performance. Raghuram Rajan – “Shoot & scoot” Governor RBI Four decades later, the phrase became applicable to the rock star Governor of the RBI, Raghuram Rajan. He […]
Read More Arvind Subramanian – a “scoot & shoot” economistFinance high table – not a man’s world anymore There is a heady feeling to being India’s finance minister. Finance is fungible, unlike other factors of production — including the ubiquitous “ahlu” in North Indian cuisine — which gives it the centrality others lack. FM as Magic Maker This unique status of the FM also […]
Read More Make the Union Budget credible againIt’s a terrible time to be a minister in the Union government. The economy is tanking under the weight of debt funded public expenditure and low private investment due to the lacklustre consumer demand. Private corporate headline growth is low on the back of low capacity utilisation, which hits government tax revenues adversely and casts […]
Read More Modi 2.0: Time for frugal good governanceNirmala Sitharaman has notched up a record merely by taking over as Finance Minister in the Modi 2.0 government. She will be the first woman to hold this position as a stand-alone charge. Indira Gandhi was the first woman Finance Minister in 1970-71. But she was already Prime Minister and assumed the position from Finance […]
Read More Finance Minister Nirmala Sitharaman – an avatar of Durga or Laxmi?The 2019 election results illustrated the transformative political and social changes sweeping India. Will the new Narendra Modi government adapt its economic policies to fit the changed expectations or will it dish out more of the same? The honeymoon is over The 2014 Budget was expectedly a laundry list of good intentions. Five years down […]
Read More Modi 2.0 Different Economic Strokes?So hotly are the elections being contested that it is easy to forget the real life challenges awaiting the new government. Challenges come in three buckets — institutional; policy design and uncertainties from external and domestic shocks. Poor policy choices are easily reversed, institutional change happens slowly while shocks can neither be forecast nor fully […]
Read More Bitter morning-after pill awaiting new governmentThe recent statistical dogfight around job creation, using data as ammunition was between NITI Aayog, intent on proving that there is no slow-down in job creation or more accurately productive work and the CMIE convinced that there has been a net job loss during the Modi years, with no give on either side. Empowered elites […]
Read More The common sense on jobsThis book will jolt you awake, quicken your heartbeat and embed niggling worms of anxiety in even the most sanguine of persons. The author is a gifted, American, climate journalist. He grabs your attention in the very first paragraph and keeps it for the next 231 pages of text followed by 66 pages of notes, […]
Read More Lest we err and waste our planetRahul Gandhi’s electoral silver bullet to numb the BJP into relative disarray is a mega welfare scheme to transfer Rs 72,000 to each of the 50 million or 20 per cent of the poorest households. It costs Rs 3.6 trillion or 1.8 per cent of GDP. Mine versus yours The motivation is political – to […]
Read More Nyay (Justice) yes! But at what cost?
Opinion India 