STATE-SPONSORED OR MARKET DRIVEN CAPITALISM
Mr Modi will encounter a tough economic climate in his second term. The combination of heightened expectations and a weaker global economy will act as headwinds. Plus, he can no longer deflect […]
INDIA’S GDP GROWTH: FACT OR FICTION
“A single lie discovered is enough to create doubt in every truth expressed.”
Recently there has been much debate about the Indian economy. Surveys conducted by government agencies such as the […]
CONTRADICTORY MOVES IN INTEREST RATES
There are broadly two kinds of pension plans. In defined benefit plans, the employer guarantees a fixed (defined) pension benefit to the employee upon retirement. The risk associated with investing the pension […]
VALUE DESTRUCTION IN STATE RUN BANKS
Who pays when you make a mistake? You do. Who pays when the government makes a mistake? Yes, Still you…..Anonymous
In a bizarre move the government, which controls seventy per cent […]
INDIA’S LOST DECADE
Countries pass through stages on the road to economic prosperity. Economist W.W.Rostow postulated five such stages of economic development: the traditional society, pre-take-off, take -off, drive-to-maturity, and period of mass consumption.
<p style="text-align: […]INDIA’S ATLAS SHRUGGED
It is estimated that since 2014 about 23,000 millionaires have left India to settle in other countries (Morgan Stanley). The vast majority of […]
WHAT MODI CAN LEARN FROM TRUMP
The New York Times (NYT) is as rabidly anti-Trump as any other newspaper in the world. So recently (June 1, 2018) when the […]
INDIA NEEDS PRINCIPLES NOT POLICIES
I hate watching evening debates on Indian television. Besides the uncontrolled shouting and the lack of intelligent and respectful discussion, it is always […]
LAISSEZ FAIRE–LESSONS FOR INDIA’S BIG GOVERNMENT
Even Mr.Modi’s most ardent critics will acknowledge his immense enthusiasm and self-belief. But it is his misguided belief that he can somehow “fix” […]
ECONOMIC FREEDOM–INDIA’S PATH TO PROSPERITY
Economic freedom is the bedrock of modern capitalist societies. It is based on personal rights, voluntary exchange, and open markets. The link between economic freedom and prosperity has never been clearer. The […]
10 WAYS TO GET THE ECONOMY MOVING
There are reports that the government is contemplating a Rs. 50,000 crore stimulus to boost the economy. The notion that governments need to […]
HOW MODI CAN TRANSFORM INDIA –1
Dear Mr. Modi:
Your commitment to making India great is unquestionable. Your tireless promotion of Brand India is unparalleled in Indian politics. […]
GDP: AN ABSTRACT CONSTRUCT
We all want economic progress. But how should we measure economic progress?
In last week’s newsletter, I used the analogy of a […]
INDIA’S FALTERING ECONOMIC GROWTH
India’s GDP growth has declined now for four consecutive quarters. Total GDP ( Gross Domestic Product) has dropped almost 3.1% since the 4th quarter of 2016. Future GDP will likely get worse as […]
THE POWER OF FREE MARKETS
“The record of history is absolutely crystal clear, that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the […]
RECALIBRATE CAPITALISM SUGGESTS INDIAN MINISTER
At the World Economic Forum in Davos, India’s Commerce Minister Nirmala Sitharaman, made a preposterous statement. She suggested that the world needs to do […]
ELIMINATE BLACK MONEY BY ABOLISHING INCOME TAX
Here is a radical proposition. Abolish all current taxes in India: by all I mean all the 50 or so different direct and indirect […]
GOING CASHLESS: THE DANGER TO LIBERTY
As demonetization unravels into a spiraling disaster the government is looking for new narratives to justify the policy. The latest justification that it will […]
TRUMPONOMICS/ INDO-US TRADE
Donald Trump will soon become the most powerful man on earth. The rhetoric of the campaign is over, and while it is hard to say exactly […]
THE BLACK MONEY BOGEYMAN
Much has been written about demonetization and the impunity with which the elected leader of a country destroyed the currency of the fastest growing […]
INDIA’S TSUNAMI: A BANKING CRISIS
All big disasters start off as small events. Hurricane Katrina was a small ripple in the South Atlantic Ocean before it killed 2,000 people […]
INFLATION TARGETING IN INDIA
The Reserve Bank of India (RBI) has several roles. It is the banker’s bank and is responsible for maintaining public confidence in the banking system. It is […]
THE URI ATTACK: A CHESS GAME
The recent attacks on Uri by Pakistani trained terrorists is part of a strategic chess game that has been slowly playing out over the last decade, […]