There 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
Piyush Goyal, the interim finance minister, will need to be a lucky general if he is to overcome the triple challenge of widening trade and fiscal deficits and lacklustre private investment. Exports – India’s achilles heel Despite our comparative advantage of cheap, skilled labour and entrepreneurial zeal, export pessimism is endemic — unlike in China. […]Read More Follow the money to tackle the fiscal perfect storm
Rajiv Kumar, the new vice-chairman of the Niti Aayog, has made development of an organic, Bharatiya model of development as his mission. He is likely to encounter three problems in this endeavour. A new, local model of development is doomed from the start in a globalised world First, in a post-ideology world, marked by rapid […]Read More Will NITI get it’s hands dirty?
Some pictures may be worth a thousand words. But when the two are put together, as in a video, they evoke deep emotions and convey subliminal messages. Watch the master of the spoken word — Barack Obama, in his January 2016 address on the mundane subject of gun control in the United States and you […]Read More Budget 2017 – say what you mean
In sarkari circles, an officer whom no one loves is an outlier — either cruelly termed “sanki” in colloquial Hindi (willful, unreliable) or brutally even-handed since she evenly annoys everyone. But what does one say about a politician in this predicament? Frankly, whilst it is easy for a politician to be so faceless that s/he […]Read More Why no one loves Modi
(photo credit: indiatoday.com) Speaking today in Ramlila Grounds, the “maidan” of the people’s movement which birthed the Aam Admi Party, just over a year ago, Kejriwal, in his acceptance speech as Chief Minister of Delhi state government, confided that it was God who had ordained the Tsunami like landslide win of the AAP (96% of […]Read More Kejriwal – God’s own messenger
(photo credit: dailymail.uk.co) February is when the Indian Finance Minister (FM) gets flooded with unsolicited help from well-wishers on how to get his job done of presenting the Union government’s annual budget on the 28th. This time, the flood is a Tsunami as a consequence of the Delhi state assembly electoral debacle for the BJP […]Read More The budget of small things
Are scams babu made? If a “competent authority” is hell bent on making money, generally, there is very little babus, even honest ones, can do to stop them. But many “scams” are just the outcomes of poor decision making and in these babus cannot escape the blame. Personal honesty is never more than, at best, […]Read More Babu-traps 101