The Indian Economy Blog

Archive for June, 2008

Guest Post: An Exercise in Damage Assessment

Tuesday, June 24th, 2008

By V Anantha Nageswaran For a while, at least, Asian currencies are caught between rocks and hard places. We struggle to construct realistic scenarios under which Asian currencies rally. Only a credible and reasonably aggressive policy response to the inflationary impulse washing through the region would do that. It would restore policy credibility, improve local [...]

Don’t Write Off India Inc?

Monday, June 9th, 2008

So says Hugh Young in the Financial Times Indian companies have on the whole risen above the meanderings of government, and in so doing have provided a platform for their shares to do likewise. ……… Granted, unlike some of its Asian cousins, India will remain a frustrating place for investors, as sensible policies one week [...]

5% Cut Not For Defence Expenditure

Friday, June 6th, 2008

Let us rejoice at the government’s consideration for the defence services. As per the finance ministry’s directive on austerity measures for the government, All non-plan expenditure heads excluding interest payment, repayment of debt, defence capital, salaries, pensions and the finance commission grants to states will be subjected to a mandatory 5 per cent cut.[IE] Does [...]

Upsetting Oil Pricing Conundrum

Tuesday, June 3rd, 2008

Earlier post on the subject: Oil Pricing in India Vikram S Mehta, chairman of the Shell Group of companies in India, provides the structure of the price build up for petrol and diesel by the public sector companies in India. Indian Oil Corporation (IOC) calculates inter alia the landed import duty paid price of petrol [...]

Guest Post: On The Price of Crude Oil

Tuesday, June 3rd, 2008

V Anantha Nageswaran What is interesting in Daniel Yergin’s FT piece is that he deftly sidesteps the question of predicting the future for oil price—near-term or in the long-term. In recent years, he has been proven wrong. His Cambridge Energy Research Associates (CERA) has been bearish on oil since 2004-05. More important rather than interesting [...]

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