Columns

By: Martin Macwan
Category: Common citizen, India politics, Inclusive growth
The cases of recent violent caste-related attacks on dalit youth for sporting moustaches in Gujarat’s Gandhinagar district are an indicator of simmering tensions and discontent in a State that has until recently been presented as a model of development. They tell us of a divide that is deep.
By: Ajit Ranade
Category: Common citizen, Inequality, Taxes, China-India, Global, Indian economy, Inclusive growth
Can we focus on eliminating the loophole of tax shelters in direct taxes? Can we reduce the burden of indirect taxes, which hurt the poor more than rich? The list of doable ideas is long but the first step is to acknowledge that we are at a point of “too much and an unacceptable level of inequality”
By: Jagdish Rattanani
Category: Common citizen, Jobs, India politics
The ill-effects of a host of rash moves like the rushed implementation of GST, the hare-brained scheme of demonetisation, non-action on black money and corruption, lack of direction on ballooning bad assets of state-run banks have come together to give us less jobs, lower growth and a weak outlook.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, RBI, India politics
In the above context, what matters is not really the reduction in the policy rate, which is a signal to the banking system, but how this signal is transmitted and carried forward to the actual rate at which banks lend to corporates. Transmission of the rate signal is critical and also crucial.
By: Himadri Bhattacharya
Category: RBI, India politics, Indian economy
MPC's decision to maintain status quo is a reflection of its mandate to steer the inflation trajectory closer to 4%. The easing cycle that began in January, 2015 has possibly come to an end with the cumulative lowering of the repo rate by 200 basis points. The policy stance has entered neutral... read more
By: Usha Thorat
Category: Common citizen, RBI, Indian economy
As inflation had increased by two percentage points since the last policy -although below the target of four per cent –no one seriously expected the inflation targeting MPC to recommend any rate cut. In line with this expectation, RBI kept the repos rate at the existing level of six per cent.
By: Ajit Ranade
Category: Jobs, Indian economy, Inclusive growth
A unified tax structure, direct linkage of farmers to buyers, attack on black money, financial inclusion, move toward a less-cash economy are all steps toward a more efficient economic system. But the government might be guilty of completely neglecting the here and now in pursuit of long term vision
By: Arun Maira
Category: Common citizen, India politics, Inclusive growth
India’s history is a composition of many histories. Any attempt to impose a single vision of India’s history is a fool’s game. It will create divisions within people, as evident from recent efforts to rewrite Indian history. Ultimately, the idea of India must be what a billion Indians think it is.
By: Arun Maira
Category: China-India, Jobs, Inclusive growth
A clutter of branded schemes with catchy acronyms will not grow more jobs. A ‘systems view’ is required to connect many parts of the system and many policies—for investment promotion, trade regulation, labour policies, etc.—to enable the economy to deliver better jobs and livelihoods.
By: Jagdish Rattanani
Category: Common citizen, Jobs, India politics
While it is gratifying to see an obnoxious media person being caught out and go down, there is the larger and more difficult case that must be argued in the midst of this din. The obnoxious would perish, sooner rather than later. What looks unlikely to perish is a culture of self-glorification
By: T C A Raghavan
Category: Common citizen, Global, India politics
The Trump broadside has left many in Pakistan shaken but such pressures are intrinsically not new. It is evident that after some initially strong statements in response from the National Assembly and the National Security Council, Pakistan has chosen to engage with the US rather than only condemn... read more
By: Ajit Ranade
Category: RBI, India politics, Indian economy
There is a lot to do on reforms in the process of clearances, dispute settlement, getting credit and taxation. Also, there is the farm sector, which is suffering from deflationary forces. Stopping and reversing the slowdown calls for a multi sectoral, multi-pronged, multi-government level approach.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Jobs, Inclusive growth
The fact that India stands out as a country with one of the highest increases in the top one per cent income share concentration over past 30 years should lead to some rethinking on how the growth story is going. The debate on inequality has been less discussed and in many fora is completely absent.
By: Haresh Jagtiani
Category: Common citizen, India politics, Inclusive growth
Chipping away at the periphery of a person’s lifestyle would be the surest way to strike at the core of his being. And since the periphery is a mere extension of the core, a majority Government could impose its notion on how to live life, thereby making that person’s life itself intolerable.
By: Himadri Bhattacharya
Category: RBI, Indian economy
Neither RBI's annual reports nor the six-monthly reports on forex reserves disclose any useful information on portfolio and risk management of forex reserves. RBI provides a metric - Earnings from FCA as % of average FCA -, which does not conform to any standard definition of portfolio return.
By: Arun Maira
Category: Jobs, Indian economy
Whistle blowers are hardly popular with the institution they warn. They may sound too critical of, and even dis-loyal to the institution. The institution, and even the public, may demand that the whistle-blower apologize for raising the alarm in public and for damaging the institution’s reputation.
By: Jagdish Rattanani
Category: Common citizen, Jobs, Indian economy
Infosys has been the crown jewel of the Indian corporate sector, a mascot for growth driven by values. The story of how the founders and particularly N R Narayana Murthy built Infosys and gave the company its unique culture and status in the Indian mind-set has been told again and again.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, RBI, Indian economy
If one accepts IIM-A surveys, then the pressure is on the RBI to prove that its surveys are better. This is a technical challenge the RBI has to resolve independent of the MPC as it questions the credibility of RBI as the monetary authority to maintain price stability, while keeping growth in mind.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, RBI, India politics
It is not inflation control per se which is important but the anchoring of inflation expectations when it comes to public policy in general and monetary policy in particular. Inflation expectation is currently at a high level. The inflation expectation is mostly based on market behaviour of prices.
By: Ajit Ranade
Category: Jobs, Indian economy
The many analysts and experts who are scrutinizing the company threadbare, need to ask themselves: do they apply even ten percent of that attention to examine other companies and their governance? Just because Infosys is more transparent, it does not mean that only it should be studied threadbare.

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