governance, political economy, institutional development and economic regulation
Creativity blooms during periods of extreme turbulence. One such example is the “Doing Business” index, which was initiated in 2003, in the aftermath of the dotcom boom-bust of 2000-2004. Back then, state led development had decisively given way to a preference for an open economy, competition, markets and private enterprise. The Doing Business index benchmarked […]
Read More How creative is the Indian economy?One of the realizations, home-spun by Covid in India, is that there is value to “atmanirbharta” (ANB) or self-reliance – the capacity to march alone, if necessary. An admirable attribute except that “aloneness” creeps up silently on you like a habit, difficult to shake off. Looked at more cheerily, it is not so different from […]
Read More Marching aloneThe win in Bihar for the BJP- JD(U) combine, presages continue strength to the NDA at the center and a potential spread across more states. This is a source of anxiety for those who miss the more lassiez faire approach of previous governments, where the “dharma of coalitions” restricted strong-arm action on any front. BJP […]
Read More Post Diwali sentiment boostersIn the first half of fiscal 2020-21 Union government receipts are just 25% of budgeted annual receipts as opposed to 40% in the previous fiscal. Receipts tend to have a slow start but not this slow. We are Rs 2.7 trillion short of the Rs 8.4 trillion we collected as receipts last fiscal till September. […]
Read More Come September outcomes fiscal bluesWe have got used to being feted by the international community as a “rising great power”. This suits our exaggerated self-perception and the choreographed diplomatic dance of real Great Powers (US and EU) with China, truly, a risen great power, albeit increasingly not a benign one. Covid mirror The Covid epidemic has shown up all […]
Read More Trudging up the recession gorgeThe “non-development expenditure” of state governments – the cost of keeping their government apparatus going amounted to Rs 10.5 trillion or 27.5% of their total receipts in 2019-20 (RBI Public Finance Data) versus 20% of receipts for “establishment” expenses in the Union government (Union Budget Documents). Too top heavy by half Putting the two together, […]
Read More Indian States as Regional Ecological ManagersThe 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, […]
Read More Towards a net zero IndiaThere is something endearing about the desire of the Modi government to be fiscally correct in the amount of debt it piles up. Chrometophobia – the fear of debt This single-minded adherence to being fiscally correct was much in evidence during the Jaitley years when reduction of the fiscal deficit (FD) below 4.5% of GDP, […]
Read More Wanted visionary husbanding of public finances“Ghasiram Kotwal” Vijay Tendulkar’s brilliant Marathi satire on the predilection of the powerful to subvert ideology to their own survival, was penned in 1972. It faced rough weather in getting permissions to be staged. The Shiv Sena raged against it, presumably because it portrayed Nana Phadnavis, a prime minister of the Peshwas, in a bad […]
Read More Holding a mirror to IndiaSouth Asians integrate the least with each other as a region. Joyeeta Bhattacharjee of ORF, who studies the region, puts it down to fear of Indian domination (India accounts for 80% of the combined GDP and 74% of the combined population), historical mistrust (a colonial legacy) and targeted terrorism (a recent innovation of war by […]
Read More Fracturing South Asia into action
Opinion India 