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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Prime Minister Modi says Ni Hou

(photo credit: india.com) Arun Shourie- minister in the earlier NDA government and senior BJP leader was being strategically alarmist when he went public on May 1 warning Prime Minister Modi against succumbing to the seductive spell, which the Chinese put on Pandit Nehru (India’s first Prime Minister) eagerly accepting his diplomatic largesse and support whilst […]

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Shrimatiji awaits achche din

Reposted from The Asian Age May 5, 2015 where it first appeared http://www.asianage.com/columnists/shrimatiji-awaits-achche-din-800 India is on a roll. The “helicopter-top down” view looks good. Growth is to be 7.5 per cent this fiscal and 8 per cent by 2018 (World Bank’s India Development Update report 2015) outdoing China, which cannot but be a matter of satisfaction. […]

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