governance, political economy, institutional development and economic regulation
Conspiracy theorists are hard at work to identify the drivers behind the ongoing cash crunch, that has left the automated teller machines (ATMs) in cities and towns across large parts of the country dry. There is much finger pointing between the Reserve Bank of India and the commercial banks, both private and public sector, each […]
Read More What the cash crunch foretellsBimal Jalan exercises the writer’s privilege to box his reflections between three inflection points. The first is 1980, ostensibly because 1977-79 was the first time the Congress lost power at the Centre. The second is 2000, being the start of a new millennium. And 2014 is the bookend when the Bharatiya Janata Party (BJP)-led National […]
Read More Bimal Jalan reflectsCourtesy 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 loans(photo credit: http://www.iosipa.com) Reposted from the Asian Age May 25. 2015 < http://www.asianage.com/columnists/well-run-modi-690> Should it worry us that Modi sarkar resembles the Ethiopian Haile Gebrselassie, the greatest long-distance runner ever and not Usain Bolt, the 100-metre thunderbolt from Jamaica? Not really. The 100-metre dash, whilst spectacular and crowd pulling, is a good tactic for disaster mitigation […]
Read More Well run, PM Modi
Opinion India 