Columns

By: Ajit Ranade
Category: Common citizen, Governance, Inequality, Taxes, RBI, Jobs, India politics, Indian economy, Inclusive growth, GST
The floods in Kerala and the quantum of aid it needs versus what is on offer from the Centre has brought back the debate on Centre-State issues. It is also pertinent since the Fifteenth Finance Commission (15FC) is in the middle of deciding the devolution framework and quantum.  In Kerala’s case,... read more
By: Arun Maira
Category: Common citizen, Governance, Inequality, Global, Jobs, India politics, Indian economy, Inclusive growth
There was great uncertainty in 1999 about the outcome of India’s national election and concern that India’s development would be disabled by India’s competitive politics. The dominance of a single party, the Congress, in national and State politics was fading then. Regional parties had gathered... read more
By: Ajit Ranade
Category: Common citizen, Sustainability, Taxes, China-India, Global, RBI, Jobs, India politics, Indian economy, Inclusive growth
In the medium to long term, the rupee will always depreciate against the dollar. The reason for this is that the rupee loses purchasing power domestically, due to inflation. At 5 percent inflation, 100 rupees reduces to 95 rupees value at the end of the year. So naturally the international value of... read more
By: Ajit Ranade
Category: Common citizen, Sustainability, Taxes, Global, RBI, Jobs, India politics, Indian economy, Inclusive growth
The trust capital in India lags far behind the Scandinavian countries or even in East Asia. This trust deficit is the most abstract and difficult to bridge. It needs judicial, police and electoral reforms. It needs political parties to be subject to the right to information. This is the most... read more
By: Jagdish Rattanani
Category: Common citizen, Governance, Inequality, Taxes, Global, RBI, India politics, Indian economy
The largest public sector bank and the largest private sector bank have announced losses for the first quarter (Q1) of the financial year 2018-19. The results have shocked many, particularly in the case of the State Bank of India, where the Q1 (April-June 2018) loss stood at Rs.4,876 crore, the... read more
By: Arun Maira
Category: Common citizen, Governance, Inequality, Sustainability, Taxes, China-India, Global, Jobs, India politics, Indian economy, Inclusive growth
There are great expectations about the growth in the size of the Indian economy: that it has already exceeded the size of France’s economy, and that very soon it will exceed the size of the economy of the UK. An interesting question is, what shape will the Indian economy have in the future? What... read more
By: Dr Ganesh N Devy
Category: Common citizen, Governance, Inequality, Sustainability, Global, Jobs, India politics, Inclusive growth
The SIT constituted by the Karnataka government deserves praise for getting closer to cracking the conspiracy of killing several intellectuals. Those involved in the Gauri Lankesh murder are believed to have had a hand in killing Dabholkar, Pansare, and Kalburgi. The press reports tell us that many... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Governance, Taxes, Global, RBI, India politics, Indian economy, Inclusive growth
The policy repo rate, which (over time) drives the rate at which banks lend to customers, has moved up from 6 per cent to 6.5 per cent in the last four months. The MPC wants this increase to “bite” (in the words of the RBI Deputy Governor and MPC member Dr. Viral Acharya) so that inflation is... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Governance, Taxes, Global, RBI, India politics, Indian economy, GST
The annual study of State budgets released this month by the RBI comes amid important developments in the fiscal architecture of the Indian federal system. The Central government has a revised FRBM framework with the fiscal deficit alone as the target variable, which will be mirrored sooner rather... read more
By: Jagdish Rattanani
Category: Common citizen, Governance, Inequality, Jobs, India politics
But what is not a trick and carries the potential of a powerful framing of issues for 2019 is the message of “love versus hate”. Captured in a line and placed on a poster that came up in Mumbai, the position is simple: nafrat se nahin, pyaar se jeetenge (We will win not with hatred but with love... read more
By: Ajit Ranade
Category: Common citizen, Governance, Sustainability, Taxes, China-India, Global, RBI, Jobs, India politics, Indian economy, GST
The Standing Committee on Energy in its thirty-seventh report to the Lok Sabha said that there are 40,000 megawatts of power projects which are under financial stress. These are on the brink of becoming non-performing assets, and may have to go through bankruptcy. This represents more than 10... read more
By: Ajit Ranade
Category: Common citizen, Governance, Taxes, China-India, Global, RBI, Jobs, India politics, Indian economy, GST
The two reports serve to highlight macroeconomic concerns as we head into an election year. Consider some of the challenges. The Consumer Price Index (CPI)-based inflation is now at 5 per cent. This is already showing an upward momentum, especially in non-food prices, which include education and... read more
By: Ajit Ranade
Category: Common citizen, Governance, Inequality, Sustainability, Taxes, China-India, Global, RBI, Jobs, India politics, Indian economy, Inclusive growth
A recent report from the globally renowned Brookings Institution shows a dramatic reduction of poverty in India. As of May 2018, India has 73 million people living in extreme poverty, as against 87 million in Nigeria. For the first time, India does not house the maximum number of extremely poor... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Inequality, Taxes, China-India, Global, Jobs, India politics, Indian economy, GST
We are on the edge of a full-fledged trade war. The U.S. has raised tariffs, China is hitting back and businesses are watching worriedly as tensions rise and uncertainty grips the market. Amid this flexing of muscles comes a story from a place in the U.S. State of Missouri called Butler County,... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Sustainability, Taxes, China-India, Global, RBI, Jobs, India politics, Indian economy
The Rupee is falling. We are within striking range of Rs.70 to the US dollar. In intraday trade, the currency touched an all-time low of Rs.69.10 in the last week of June. The nosedive has raised alarm as the rupee becomes the worst performer among currencies. There are many questions from every... read more
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, Governance, Inequality, Taxes, Global, RBI, Jobs, India politics, Indian economy, Inclusive growth
Eight years and 17 reports later, it is not clear if “pre-emptive” actions have worked to control some of the messes that are all too obvious in the system. One of the key failures remains the rising tide of Non-Performing Assets, or NPAs, which stands out in the latest FSR as one of the deeper (... read more
By: Ajit Ranade
Category: Common citizen, Governance, Inequality, Sustainability, Taxes, Global, RBI, Jobs, India politics, Indian economy, Inclusive growth
The perception of safety of deposits in public sector banks is because of an implicit guarantee that the main “owner” or shareholder, i.e. the government of India, will never allow a PSB to go belly up. Depositor money is thus “safe” in a PSB and, as records reveal, no PSB has been allowed to fold... read more
By: Vappala Balachandran
Category: Common citizen, Governance, Inequality, China-India, Global, Jobs, India politics, Indian economy
A Brookings paper (June 8) quoting US defence sources said: “Adding the Indian Ocean to the mix dilutes China’s influence: It increases the size of the pond and adds other fish that are less amenable to swimming to its tune”. In other words, it was a strategic ploy for drawing China out into a... read more
By: Ajit Ranade
Category: Common citizen, Governance, Inequality, Sustainability, Taxes, China-India, Global, RBI, Jobs, India politics, Indian economy
The central banks of US, EU and Japan, for almost a decade, followed a policy of printing money, and kept interest rates near zero so as to induce more lending by banks and more credit growth. Bank create money supply by a process of credit creation. Ballooning debt also means rapid increase in... read more
By: Arun Maira
Category: Governance, Inequality, Sustainability, Taxes, China-India, Global, RBI, Jobs, India politics, Indian economy, Inclusive growth, GST
The inability to ‘pick winners’ with certainty in a dynamically changing world is the principal argument of liberal economists who oppose the very idea of governments developing industrial policies. New technologies can change the shapes of manufacturing processes and disrupt historical sources of... read more

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