I must say I was surprised to read that Kaushik Basu, once my friend and neighbour, had been succeeded as chief economist of World Bank by Paul Romer, whom I admire as an inventive economist....
The Indian government is striving to push through a long-pending legislation to streamline the nation’s cumbersome tax system. If the move succeeds, it would make India a single unified market for the first time. Nearly...
The World Bank’s latest India Development Report, a biannual report, expects India’s economic growth to be robust, however the associated year on year acceleration is characterized by uncertainty and downside risks. According to the update,...
The Union budget presented was hailed by the markets and policy makers and the like. The centre stage of the budget was massive thrust on infrastructure projects. An economy just on the road to recovery can be kick started...
The book ‘Capital in the Twenty-First Century’ by French economist Thomas Piketty has quickly become a bestseller. The main thesis of the book is that the return on capital tends to be higher than the...
Mercantilist (Seventeenth Century) believed the more the gold and silver reserves; the better it was for the nation. The wealth of nations was measured by the greater accumulation of precious metals as per Mercantilists. However,...
It is obvious that the economic and social situation of India has deteriorated sharply in the last 5 years. It does not take a rocket scientist to hear economic and financial woes from friends and...
India’s low tax collections woes and the importance of Indirect taxes on India’s economic problems. Global data compendium CIA World Fact-book puts India’s tax collection at 9.3% of GDP, higher than only Nigeria, Syria, Sudan...
Emerging economies in the Asia-Pacific region are losing steam, which has prompted the Asian Development Bank to sharply cut its growth forecast. The bank calls for more financial stability and reforms. Gross domestic product (GDP)...
G20 finance ministers and central bankers are meeting in Moscow to tackle emerging threats to growth. Their agenda includes the jobs crisis in Europe, currency fears in emerging nations and corporate tax avoidance. The two-day...
Indian locomotive derailed, or a blip, this is a phenomenon that is all makes sense due to the combination of a degraded international environment and a specific business cycle India , what were called the...
The world couldn’t hide its disappointment when China’s first-quarter GDP growth dropped to 7.7 per cent, slightly lower than market expectations. Unfortunately, this might just be the start; worse news could be just around the...