Is India the global fall-guy?

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 […]

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Changing India

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 […]

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Modi’s Legacy

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 […]

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India’s Raj inheritance

Delhi 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 […]

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A hybrid export model might fly

Exports in the first half of this fiscal year were $267 billion, 1.9 per cent higher than last year. This was dismal if exports are to be the engine driving GDP growth. Imports, at $312 billion, reflected poor domestic demand and contracted by 3.2 per cent. The only good news was that the trade deficit […]

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Tango in Mamallapuram

Two burly, senior citizens – Prime Minister Modi and President Xi doing a tango on the beach at Mamallapuram doesn’t quite evoke the carefully synchronised but fiercely intense passion of this Argentinian dance form. Even the cool looking, athletic Barrack Obama was left with two left feet when he was led onto the floor for a […]

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