governance, political economy, institutional development and economic regulation
“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” economistWhat was Finance Minister, Arun Jaitley’s press conference on Tuesday all about anyway? If the intention was to gain eyeballs, it succeeded. But if it was to allay fears about the Indian economy, it failed. Here is why. Misguided choice of communication medium First, the optics were all wrong. The finance minister had just returned […]
Read More FM Jaitley’s press meet – more lobs than ground strokesCourtesy Arvind Subramanian, India’s Chief Economic Advisor, the 4R (reform, recognize, recapitalize, resolve) approach to manage the corporate bad loans problem, has captured public imagination. But he soft peddles a fifth R, that of retribution. The big stick must be wielded for reform to be credible. Public sector banks – flabby, politicised ATMs providing easy […]
Read More Retribution – the missing R for resolving bad loansArvind Subramanian Chief Economic Advisor- GOI: Rising star and Rajan clone? The Indian Economic Survey is an annual document that is wrongly titled. The data it reveals is overpowered by large dollops of economic wisdom, literature and policy analysis. Arvind Subramanian, India’s Chief Economic Advisor and the key author of this year’s Survey, has clearly […]
Read More Indian Economic Survey 2016: Bewinderingly optimistic
Opinion India 