RBI Gov Shakti Das does a U turn

Since the government no longer leaks information to the press on what is about to happen, it is tough to figure out whether the unanimous decision to hold the repo rate (the bank rate) at 5.15 per cent by the Monetary Policy Committee (MPC) on December 6 has the Union government’s blessings. Maybe this is […]

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Recapturing growth with stability

All governments game their performance metrics. Smart governments guard against falling for the make-believe themselves. The BJP stumbled in believing that India had earned an entitlement to grow, faster than China, at eight per cent per year. Well-intentioned measures — to end black money, resolve the stressed bank loans and reform indirect taxes added to […]

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Can GST make Hasmukh Adhia smile?

Hasmukh Adhia, India’s revenue secretary, is finance minister Arun Jaitley’s chief aide for rolling out the Goods and Services Tax. Contrary to his first name, he never smiles, at least not in public. But even he can now take a break and smile. The GST juggernaut is careening ahead. In just over a week, India […]

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Finance Minister or supermom

Will Finance Minister Arun Jaitley protect wailing babies; photo credit: mubasshir.blogspot.com High expectations in the near mystical ability of any finance minister to find a balm for all economic ills is common across all Budgets. Like all of us, finance ministers are egoists. They respond to expectations, like a supermom does to wailing babies. The chorus […]

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