The creation of a health care system in this ambitious but manageable way opens the way to a much more comprehensive welfare system over the future. It is usual in this sort of schemes that a ratchet effect sets in.
Budget 2018: A Budget is like fast-food. You can discuss it in anticipation, listing the ingredients you would like it to have. Once it is presented, it gets stale very quickly. You can talk about it on the day it is presented, but by the next day, it is a cold snack not worth chewing.
As the year ended, I was invited to an opening of Imaginarium/Aligunjan, a research and blue-skies thinking facility set up by Nishith Desai Associates in Alibag.
In the sale of public assets or goods, the govt must spell out whether the principle underlying is maximisation of revenue or welfare
India has not reached its Lewis moment yet (thanks to bad labour legislation). It can absorb capital looking for higher yield
Western economies are expected to have slow growth, but stagnant real wages and, very soon, mass unemployment
Xi and Trump understand that for the foreseeable future, the world power order will be a Sino-American duopoly.
What China’s Communist Party Congress, which just finished in Beijing, showed was that China has managed an impossible project.
The Economic Advisory Council which was chaired by Dr Rangarajan during the UPA days was quietly abolished. The finance ministry was entrusted to Arun Jaitley but then he was burdened with the defence ministry, corporate affairs and information and broadcasting, to begin with.
Politicians have finally woken up to the growth slowdown. I wrote about these matters in my last column, but revisit the subject as it is now being debated. Yashwant Sinha, as a former finance minister and a senior BJP MP, carries a lot of clout in the BJP and in the country.
India’s jobs problem is tied to its manufacturing stagnation—which in turn is tied to the lack of labour reforms.
While FPTP offers the possibility of a strong government, proportional representation is more fair in terms of voting share.
With the changing nature of employment itself, we may have to look for earning opportunities rather than jobs.
An ideal libertarian ‘money’ would allow free entry by any producer who can issue . These tokens would compete with other tokens to command trust.
The larger the state and the more power concentrated at the top, the higher the chances of Big Graft
The global financial markets are in a very peculiar state. The volatility index, VIX, is at its quietest. Inflation is low, and below the target value of 2%. Growth is low as well by historical standards, but it is higher than it was five years ago.
The recovery, from the turning point on the cycle nine years ago, has not brought a boom—but there’s no repeat of the decline either.
Over the last couple of years, elections have taken place where the unexpected , unforecast outcome has come about. Donald Trump won in the US, setting off a debate about the shock to the Liberal Order.
Its One Belt, One Road initiative is nothing short of this, as it is a low-yield, resource-intensive project.
Macron is a strange phenomenon.
No one expects an incoming president to know anything about nuclear physics though the decision to push the button is the most serious one an American president has to make.
Despite the frequent assertion of unity, when it comes to rational economic decisions, the most divisive local interests are given front-stage.
With a new president in town and only a year left in the first term of the Fed chairman Janet Yellen, speculation is mounting about the future of the Fed.
The most unusual aspect of Brexit is that both sides in the referendum only barely understood what it would entail
A debate has broken out in British Press about the quality of economic forecasting. When the Brexit referendum voted to leave by a majority of 52% to 48%, there was a shock.
If the date of budget presentation is to be February 1 from now on, the finance ministry will gave to develop a procedure or at least some explanatory note on the likely income and the growth rate, plus the variation which would be probable.
By the time the public and the commentariat talk about the Budget, it has been finalised, printed and gone beyond changes.