Tamil Nadu needs an economic reboot

Tamil is an ancient language which jostles Sanskrit on antiquity but remains in vibrant, modern use. It is also a cultural identity. Post-Independence, in 1947, the erstwhile Madras Presidency became the Madras State within the Union of India. In 1956, its borders were redrawn to shed the non-Tamil speaking peripheral areas of Andhra Pradesh, Karnataka, […]

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Unraveling fiscal stress

Economists belabour the point that emerging out of the pandemic–induced economic downturn is qualitatively different from emerging out of a long–drawn economic recession. Simply put, it is easier to get back to where you were. Turning on a light switch and flooding a dark room with light instantly is apt for describing what happens once […]

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Towards a net zero India

The average human lives for 70 years, though women outlive men. A child born over the next five years will still be alive in 2100 when the world tips over into the +2.5° heating trap triggering catastrophic forces of nature – sea level rise washing away entire islands and shore lines, floods from unseasonal rain, […]

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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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Indian utilities are babies which should go with their bath water

Some babies never grow up.  Vodafone Idea is one such fat, old, baby which is now crying for help. That the agreements for Telecom Licensees are badly worded is obvious from the unintended Kafkaesque consequences emanating from the strict legal interpretation by the Supreme Court.  Indian utility regulation deeply flawed Sadly, this is not the first […]

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Early shoots of reforms revival

Amid the doom and gloom of the world economy, there are encouraging signs that the Indian government is now taking tangible steps to reverse the worst aspects of the slowdown in India. Ministers take the lead This is a huge step away from the collective “Nelson’s eye” which was being turned to the crisis earlier. […]

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Modi 2.0 Different Economic Strokes?

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 […]

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IL&FS Robber Baron of India’s gilded age

India is deservedly an “emerging market”. Information asymmetries are extreme and caveat emptor rules, making investment riskier than it should be. The rapid implosion of the Infrastructure Leasing and Financial Services (IL&FS) — a private group — bears this out. Opaque financials First, consider that no outsider knows how many subsidiary companies it has. Estimates […]

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