How to change the country in 1,700 days - III

What state-ownership has achieved in India, apart from inefficiency, sub-optimal performance and ineffectuality, is the protection of: petty political and....

GoI and state governments cannot do much about poverty without exacerbating their extremely precarious fiscal and public debt conditions.

July 4th saw fireworks in a recession-hit America that is still contracting. But the Budget on July 6th was a damp squib in an India doing much better. Roger Federer turned in a more convincing performance at Wimbledon than the FM did in Delhi.

Six weeks have lapsed since the surprise result of the general election. India’s democracy again proved more remarkable than most. Its electorate chose stable governance over communalism, communism, and crypto-fascism. In the aftermath of their debacles the BJP, Left and rump parties must introspect and rethink the...

A lesson that won’t be learnt is that the world needs India and China to put their currencies on the world stage as prospective reserve currencies. That is to avoid the future concentration of global reserves in currencies whose long-term credibility is suspect.

Global stimulus would be more effective if Asians diverted their resources from financing US to create the impetus to invest, consume and grow at home. Asia should use the opportunity this crisis provides to lessen dependence on US and EU markets.

The crisis of 2007-?? was triggered by global investment banking bonus-eaters who turned silk purses (our money) into sow’s ears (trillions in asset value losses). They posed as being clever and quantitatively sophisticated.

We had asked in the first part of this article whether there’s a risk in the world drowning in a flood of money created by well-intentioned recession-fighters;