Book Review: For Reasons of State

India is a young nation. Three fourths of us probably have no recollection of the ravages of the Emergency period from January 1975 to March 1977. This book was first published in 1977, just after the national elections, called by Prime Minister Indira Gandhi – in a bout of self-delusion as a referendum on the […]

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Mouldy Growth Fundamentals

  Growth “wallahs” (RBI, MOF) routinely underestimate the interlinked role of land, water and housing in development. In India’s context, these are critical for a long term growth strategy. Our growth czars are disingenuous in routinely deriding the use of equity markets and foreign investment as valid indicators for economic health but are quick to […]

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