governance, political economy, institutional development and economic regulation
Ajit Doval, India’s National Security Czar is unafraid of plain speak. But he may have overstated his case by opining yesterday that a uniform pan-India governance architecture would be best for the nation. Diversity drives political contestation and change This is not quite the way the Constitution envisages India being governed. India is undoubtedly a […]
Read More Ajit Doval’s plain speakClimate change seems inevitable. Risk takers who go long on property should check out locations in Canada, Siberia and Greenland. These hitherto frozen places are expected to become attractive relocation favourites in a rapidly warming world. Collective action a distant dream The international institutional architecture for concerted effort has been negligent in protecting future generations. […]
Read More Acclimatizing IndiaOver 125 years ago, in May 1893, a diminutive, young lawyer boarded a first-class train compartment at Durban on his way to his new workplace in Pretoria, South Africa. At Pietermaritzburg, South Africa, in the middle of the chilly night, over 500 km short of his destination, he was evicted. He had a valid ticket. […]
Read More Gandhism – ethics? or just good politics.Prof. Ashutosh Varshney of Brown University calls India an improbable democracy — poor, impossibly heterogeneous and multicultural, and ironically, only its colonial heritage keeps it going. So has our hubris cost us plenty? Why we are not China Forget comparing ourselves with China today. Are we at least on the same path? No, we are […]
Read More The price of democracyEvery passing day, America plays the truculent, ageing diva on the wane, whilst China exudes a quiet, confident gravitas. Their chosen global roles, however, do not reflect the fundamentals of either country. America is one of the few developed countries with a robust economy, relative to its overwhelming size. It grew smartly at an average […]
Read More India’s geopolitical choices till 2040Unlike politicians, who can choose their targets, business leaders have to dance to the tune of shareholders, who buy or sell, based on the existing or the future bottom line. In politics. it is relatively easy to change the goal posts or indeed, shift the goal itself. Changing goals In India, the current metric for […]
Read More India’s 50-50 reformsPresident Donald Trump’s administration is showing its a mean. mercantilist machine. Unsurprisingly, for it, international trade is a one-way street, with exports increasing wealth in America, at the expense of the importing economies and imports stealing American jobs. The psychosis is familiar territory for India and scores of developing countries. What is truly unusual is […]
Read More Trump’s – “ugly American” reduxThe introduction of a 10 per cent tax on capital gains (with effect from April 1, 2018), accruing from the sale of equity, after holding it for at least one year, has generated a great deal of angst. But it is unconscionable that stock market investors who have earned windfall gains of 30 per cent […]
Read More Union taxes are scraping the bottomPut it down to the heavy snow in Davos or to a rare case of blunt honesty by an international agency. Whilst sharing the good news of the revival of the world economy in 2017 and its expected continued growth till 2019 at 3.9 percent, Christine Laggard – the IMF Managing Director, cautioned that 20 […]
Read More Sustaining growth in an unfriendly worldPrime Minister Modi and scores of democratically elected leaders, must envy Xi Jinping the President and “uncrowned emperor” of China. The serried rows of compliant and attentive members of the People’s Congress, seated, as if pinned, to identical red upholstery; displaying endless patience through Xi’s three and a half hour over-long, speech, without once dozing […]
Read More Xi and Modi – joined at the hip