July 17, 2019
The 1969 bank nationalization did India more harm than good
It was the pivot of a political economy strategy of the 1970s—when economic growth barely outpaced population growth.
July 15, 2019
Free market politics, defection economics
The only homage paid to virtue, Lord Byron once said, is hypocrisy. The Indian political class has internalised this in letter and in spirit. Every party has a stance on defection and the stand depends on where they sit.
June 19, 2019
Five policy reforms to jump-start growth
How can India put in place policy reforms to raise GDP growth without creating macroeconomic instability?
June 06, 2019
India’s macroeconomic policy playbook is ripe for a debate
This is an opportune time to revisit the 2-4-6-8 framework that sets economic targets for achieving sustained high growth.
June 04, 2019
Ten steps to maximise growth
The timing of the release of the GDP data sets up the focus for Modi 2.0—to minimise the sarkar and maximise growth.
April 25, 2019
The ongoing churn in Indian capitalism and the Sensex
The frequent churn in the Sensex is as much a testament to the dynamic nature of the Indian economy as the decline of a once-dominant airline, Jet Airways, which suspended operations last week.
April 25, 2019
Hubris & its Political Consequence
The trouble with victory, rather a string of victories, is that it catalyses and nurtures hubris.
April 18, 2019
India’s trade deficit with China has a geostrategic dimension
Much hinges on whether India can rein in its domestic macroeconomic imbalances and achieve industrial competitiveness.
January 30, 2019
Guaranteed basic income is not a solution to mass poverty
Let economic growth work for the top eight income deciles, and government welfare spending focus on the bottom two.
November 21, 2018
World War I: a turning point for the Indian economy
The extraordinary profits earned during World War I provided the initial capital for several Indian industrial groups that would become dominant in the years to independence