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Paul Kattuman
It is symptomatic of the modern economic system that only such a short while after deep and global despair over green shoots, the pressing global concern has switched to strategies of exiting stimulus packages!
The World Economic Forum Global Competitiveness Report for 2009-2010 will be out in September. Widely watched by analysts, it has a bearing on inward investment.
Was the election result a manifestation of the wisdom of the masses? Was it really the case that 714 million voters with their different preferences...
In what shape will Indian industry be, when the economy emerges from the recession? Will industry have gone through a useful cleansing? Prompted by adversity, will firms have restructured and re-organised, raised their game, and be better placed for growth?
We should see the Nano as a beacon of hope in the current economic climate: a genuine innovation, grounded in the real world, and a source of confidence in the real economy.
The Indian government has already announced three fiscal stimulus packages. The most recent stimulus package announced by the government is worth Rs 29,000 crore-though in the form of tax cuts.
2009 already seems caught in a self-fulfilling prophecy of gloom. That must change.
The International Labour Organisation has forecast a rise in unemployment by 20m worldwide, by the end of 2009. The OECD has forecast a loss of up to 10m jobs within the OECD group of countries, and up to 25m jobs worldwide between 2008 and 2010.
Sonia Gandhi has finally placed the regulation of finance squarely on the political agenda. Till very recently, financial innovation appeared to be a growth engine for the US and UK.
