The Indian Economy Blog

Archive for February, 2006

The March of The Indian Mango

Tuesday, February 28th, 2006

Make way for the king It has already made its way to China. President George W Bush will announce its re-entry into the United States after a long time. The Indian government is making headway opening the doors to Australia, and even hard-to-reach Japan. The Indian mango is beginning to go places. India is the [...]

Heads Up: Charlie Rose in India

Monday, February 27th, 2006

This is a heads up for those readers who have access to Charlie Rose’s excellent TV show on PBS. Mr Rose is spending the week in India and will be conducting interviews with a wide range of people, including M.K. Narayanan, Azim Premji, Nandan Nilekani, Ratan Tata, Kiran Mazumdar, Anil Agarwal, Shabana Azmi and a [...]

A Market For Business And Policy Research On South Asia?

Monday, February 27th, 2006

This is a thought from the top of my head based on my experience in India and discussions with a few business managers here in the US. Firms would like to have a continuous stream of information about public policies and businesses in South Asia from a market perspective. Right now they can only have [...]

Deregulation Musings

Monday, February 20th, 2006

Assuming that there is a consensus on the necessity of deregulation, how does one proceed to do so in the context of today’s Union government and state governments in India? We have regulations across the union, state, district/municipal levels. But the Centre’s powers to tax income, production and foreign trade have far greater economic impact [...]

$36 Billion And 1.3 Million Jobs

Friday, February 17th, 2006

I am not a great fan of Nasscom reports, but this one made me sit up. The technology sector (give or take a few) accounts for 36 billion dollars in revenue and just about 1.3 million jobs. So how much is it in real terms? A big part of the economy of a miniscule part?

Biased Import Tariffs?

Thursday, February 16th, 2006

Kaushik Das points out the bias in import tariffs, focussing on the automobile sector. The import duty on foreign vehicles still attracts a 103.39 percent duty, which is unheard of in any developed country. The steel sector currently has an import duty of 5 percent, which was 45 percent just a decade ago. Despite the [...]

Why Does India Have Such Terrible Politicians?- – 2

Wednesday, February 15th, 2006

Caveat: This is a long-ish post. Recommend that you print it. Many (all?) of us blame venal and mendacious politicians for India’s problems. Atanu’s sentiments in his series of posts on Lee Kuan Yew, that “when it comes to greed Indian politicians are a class apart” are echoed in any debate/ discussion about India’s problems. [...]

Higher Education Needs Fixing, Not Higher Salaries

Friday, February 10th, 2006

It is time to correct India’s lopsided education budget Salaries in India, especially for skilled workers, are rising. This is almost invariably attributed to the projected shortage in the number of workers available to sustain the rapid growth in India’s IT, biotech and other services. Those alarmed by rising wages contend that this will make [...]

How Much Difference Does Your Policy Make?

Friday, February 10th, 2006

There are a couple of important lessons that I would like to share with consumers of public policy analysis, lessons gleaned from my own coursework and work experience. The immediate context is the rise of policy analysis in the blogosphere. I strongly believe that ideas have a fringes-to-mainstream transition. And it is a good sign [...]

Sensex at 10,000

Monday, February 6th, 2006

On Monday, the benchmark Sensex index of the Bombay Stock Exchange breached the 10,000 mark for the first time since its launch in 1986. Time to say Irrational Exuberance? I am sure a lot of you have an opinion on this, especially those of you who work in the capital markets. Comments are open.

In Their Own Voice

Monday, February 6th, 2006

The employees of the Airport Authority of India, who’ve been in the news recently courtesy the anti-privatization protest strike have started their own blog. This (the blog, not the strike) is good news. Thanks to technology, more and more people have avenues to express their point of view. As far as the strike goes, I [...]

Rule Of Law In India And Its Economic Implications

Friday, February 3rd, 2006

If one were to look at the factors of production (land, labour, capital and enterprise) and look at the corresponding cases pending in Indian courts, one can have a very good understanding of the performance of the institutions arranged around these factors. It is no wonder that any task of economic reforms will have to [...]

Sense Prevails

Thursday, February 2nd, 2006

The Indian government permits IIMs to set up overseas campuses

Zero-Coupon, Not Zero Knowledge

Thursday, February 2nd, 2006

Reader Raj Iyer sent us this article from the Economic Times titled How govt tries to dig out black money: The government is examining the idea of issuing special bonds to mop up black money without offering any amnesty to the subscriber. The issue has been referred to the law ministry to ensure that such [...]

IMF Paper on India’s Pattern of Development

Thursday, February 2nd, 2006

The IMF has just published an excellent working paper authored among others by Raghuram Rajan, the chief economist of the Fund and Arvind Subramanian, also of the Fund. If you want a comprehensive overview of the idiosyncratic path of the Indian economy since 1947, there’s no better read than India’s Pattern of Development. In addition, [...]

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