Global growth outlook worsens
2013 may yet surprise us on the downside. The recently released forecast by the European Commission shows that they believe that the pain experienced by the periphery is spreading to the core. The...
View ArticleIndia's Italian connection
Don’t mistake me please. I am not trying to rake up any political hot potato here. I am simply trying to take a peek at the Italian economic past to understand what might be in store for India. The...
View ArticleIndia's GDP growth tumbles
A piece of data that did not get adequate noticed as it otherwise should have been is India's Q3 FY13 GDP, which was released on the day of the budget. After boldly proclaiming that the advance...
View ArticleEurope on the boil
All this time we were witnessing increasing austerity fatigue in Europe. The result of the recent Italian election lend further credence to this belief. The fatigue that was (not surprisingly) first...
View ArticleIndia's cataclysmic CAD
India’s current account deficit (CAD) for the third quarter of FY13 shoots up to 6.7% of GDP. As a result, the CAD for nine months (Apr-Dec) is at 5.4% of GDP. The high CAD for Q3 was caused by trade...
View ArticleFood subsidy in India
Was reading this discussion paper on food subsidies by the Commission for Agricultural Costs and Prices (CACP). Good to see my views being echoed.
View ArticleSlower than the slowest
Our Prime Minister expressed anguish at the painfully slow progress at international climate talk. What he should realize is that at least things are moving. Back home, policy is virtually at a...
View ArticleConfused policy making in India
Being blessed with many armchair policy makers, it is not a surprise that India needs to occasionally bank on divine intervention to stay on track. One could actually hear an audible sigh of relief...
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RBI keeps pressure on the government
As expected, the RBI, in its latest monetary policy announcement yesterday stuck to saner counsel and opted for a 25 bps cut in repo rate while there has been increasing clamour for a 50 bps cut....
View ArticleSacking of ministers - too little too late?
Finally the congress decided to dump the railway minister and the law minister. Is it a case of too little too late? That’s what it seems. The congress could have done that when the parliament was in...
View ArticleRecovery of industrial production - a mirage
India released its Industrial production data for March 2013 yesterday. A growth of 2.51% yoy (year-on-year) in industrial production provided some sense of comfort during a period, when myriad...
View ArticlePerformance of UPA II
Part of my conversation with Surojit is reflected in his article in Times of India today:http://timesofindia.indiatimes.com/india/Growth-falters-as-UPA-completes-4-years-in-office/articleshow/20218034.cms
View ArticleThe ingenious Mr. Chidambaram and the murkier side of India's oil subsidy
The Indian government is at it again. More specifically, I am talking about the finance minister. The innovative ways he can design to keep fiscal deficit under check is simply mind-boggling. The end...
View ArticleFixing – spot or otherwise – is par for the course for some leaders
Like murky politicians, the corporate world is also full of unscrupulous leaders. The two corporate honchos I am referring to are also owners of IPL teams of their respective home towns. The...
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The regressive nature of United Progressive Alliance
The UPA II concluded the 4th year of its existence last week and aimed to celebrate that with much fanfare as they prepare themselves for the forthcoming general assembly election in May 2014....
View ArticleA weakling government in a hurry
Rarely does one come across a government so unsure of itself yet itching to move and, in the process, botching up big time. Two recent developments drive home the point. First, the decision to open up...
View ArticleHike in FDI limit - just a small step
Today's decision to hike FDI limits in various industries has been widely hailed by the industry as much needed reform measures. It seems that reform has become a much abused term in India. Even a...
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US consumers - learning from history is not their forte
US consumers have started to re-leverage once more. Consumer credit has started growing at a pace that is faster than growth in retail sales. Question, however, is can this be sustained when the job...
View ArticleRecovery of industrial production - a mirage
India released its Industrial production data for March 2013 yesterday. A growth of 2.51% yoy (year-on-year) in industrial production provided some sense of comfort during a period, when myriad...
View ArticleSacking of ministers - too little too late?
Finally the congress decided to dump the railway minister and the law minister. Is it a case of too little too late? That’s what it seems. The congress could have done that when the parliament was in...
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