In India, lower interest rates are surely no magic wand. Joseph Stiglitz and Larry Summers may not be on the same page on many matters these days. However, on the… Continue reading "Do interest rates matter in India?"
It is unclear as to which objective of RBI has been achieved with its recent announcements. The title of this article is not just about RBI’s bizarre announcement three days ago (Tuesday,… Continue reading "Confusion reigns"
The road ahead is long and uncharted. America could conceivably spend a good part of a decade trying to repair itself. What can Asian economies do, or what should they do, in such circumstances, not only to sustain economic growth but also to take advantage of the evolving geopolitics?
The reaction to the modest increase in the still-administered prices of energy products in India recently is a clear example of leadership failure at all levels and across the political spectrum. Short-term political gains and misguided public angst dominate national interest. When the Congress Party returns to Opposition benches, they will return the compliment. It hurts and will hurt India. Badly. It appears that the Indian democracy subsidises mediocre and inferior leadership more than the Indian government subsidises commodities.