Budget 2019 India: The big picture of the Union Budget is a continuing increase in trust with respect to the private sector and foreign economic actors, but still not enough trust in India’s own people and the governance ch
The list of economic challenges does not stop with these four, but it is more important to understand the governance structures that make these and other reform areas challenging, before lengthening to-do lists.
The four major challenges are fixing the country’s financial sector, especially its banks; continuing to reform the tax system; reducing outflows of funds due to loss-making or inefficient government enterprises; and truly
We learned that many Indian voters are willing, at least temporarily, to put aside concerns about their material well-being, in order to follow more elemental desires for security and feelings of belonging. But we did not lea
Perhaps it is fair to say that competition for political leadership is more robust at the regional level. Therefore, one systemic way to deal with India’s national leadership deficit is to give subnational governments more
In 2014, the BJP showed it could conduct a campaign that was more sophisticated than anything India had seen before. Now, incumbency, money, friendly media, lessons from previous success, and boots on the ground all favour ru
Indian policymakers just do not seem able to make a clear enough assessment of where growth will occur, where India’s opportunities are, and how to create a playing field in which the most dynamic and well-run Indian firms
The Budget displayed a maturity and rationality of thought and action in terms of basic public finance policies. Within the economic sphere, what India still needs is careful rethinking of the balances and boundaries between
“An Economic Strategy for India” covers many important areas of policy action and reform, but it does not bring all the pieces together where it matters, in creating conditions where firms will be established at higher ra
Neither RBI nor the central government has been doing an ideal job of managing key aspects of the economy. If RBI failed in bank regulation when bad loans were being made, the government’s failure to allow or enable banks,
At India’s stage of economic and institutional development, kleptocracy in the private and public sector, which is most lucrative for large-scale, long-term investments, is the country’s biggest economic problem.