The Indian Economy Blog

Archive for the 'Regulatory reforms' Category

Want To Observe Economic Policy-Making First Hand?

Tuesday, January 1st, 2008

The Indian Finance Ministry has launched an internship programme. More details available here – link Sounds fascinating. If you’re interested, apply soon, since the deadline is nigh — 15 Jan. A courtesy salaam to Ajay Shah. Q) Is this the first such internship programme in the Finance Ministry?

Feeling Good About Indian Economy

Sunday, December 23rd, 2007

As another year draws to an end, extracts from two speeches delivered this year — one by an ex-finance minister (who happens to be the current Prime Minister) and another by the current Finance Minister. Both the speeches were delivered to a foreign audience and the extracts reproduced here cover only the hard facts, not [...]

Why Does India Have Such Terrible Politicians — 3

Saturday, December 8th, 2007

Russell Roberts says We should be realistic about politicians. George Stigler used to contrast his theory of politics with Ralph Nader’s. In Nader’s view, all of the ugly aspects of government were caused by the wrong people getting elected. If we could just elect better people, then we’d get better policies. Stigler argued that it [...]

Meet The New Boss…?

Monday, December 3rd, 2007

Removing corruption in India entails a look at ultimate reasons, not proximate causes Here’s a supposedly novel approach to corruption, the legalization of bribery, courtesy Ajay Shankar Pandey, the Municipal Commissioner of Ghaziabad [Chicago Tribune]. Today, contractors being paid after finishing long-delayed construction projects write the municipality a check for the 15 percent bribe that [...]

Jammu & Kashmir: the readymade SEZ

Thursday, November 15th, 2007

One of the criticisms leveled against India’s SEZ policy is that the zones are too small to make a real difference. But there’s a very big zone that could be an SEZ, especially if the state’s politicians—who are all for ‘autonomy’—decided economic freedom is something that is well in their capacity to achieve. And set [...]

Urban Indians Love Free Markets & Free Trade

Friday, October 5th, 2007

Ajay Shah has a post on the results of the Pew Institute’s latest survey: They have three key questions that measure economic liberalism, covering attitudes towards international trade, attitudes towards foreign companies and attitudes towards free markets. The results contain many surprises. As an example, in urban India, they find 89% are supportive of international [...]

The Full Monty

Friday, August 31st, 2007

Let’s have unilateral trade liberalisation Abi is right. Dweep didn’t go far enough. What India needs to do is to say “to hell with the WTO” and unilaterally, completely, dismantle trade barriers. For that matter, so does everyone else. Here’s Sauvik Chakraverti on the topic on TCS Daily: Unilateral free trade is a very good [...]

Fixing The Provident Fund System

Wednesday, August 22nd, 2007

In today’s DNA Mukul Asher & Amarendu Nandy argue that the Employees’ Provident Fund Organisation (EPFO) is ill-equipped to fulfil its mandate of providing retirement income security. The EPFO is an unusual national provident fund in combining the features of a defined benefit scheme (Employees Pension Scheme or EPS, introduced in 1995) with those of [...]

Incentives vs Exhortations

Thursday, August 16th, 2007

Why strive for excellence when mediocrity will suffice? You can’t blame Dr Manmohan Singh for telling us what the problem is. Soon after he took office, he told us that fixing the bureaucracy was crucial for India’s development. Last year, he said that the Naxalite insurgency is the biggest threat to internal security. And, now, [...]

Income Inequality In India: Is The Sky Falling On Our Heads?

Saturday, August 11th, 2007

Not quite, says our friend and erstwhile guest blogger, Blue Sky (sent via email). “It is an article of religious faith amongst Indian and Western leftists that pro-market policies are destroying India by making it a horribly unequal place, the rich getting richer and the poor even poorer. The article linked to, from the Indian [...]

Income Inequality In Asia – II

Wednesday, August 8th, 2007

The ADB has just released a report titled “Key Indicators 2007: Inequality in Asia” (covered in IHT and BBC). The report concludes that the gini index, a measure of relative inequality had grown in all 15 countries studied, since the 1990s. More alarmingly, absolute inequality had grown even more. The bank identified the trend as [...]

Pragati – The Indian National Interest Review

Monday, August 6th, 2007

Pragati – The Indian National Interest Review is a monthly magazine on strategic affairs and public policy; and is devoted to promoting economic freedom, an open society and realism in international relations. It regularly features articles and essays from many IEB bloggers. You can download and subscribe to the free digital community edition of the [...]

Wheat Procurement And Derivatives Markets

Wednesday, July 18th, 2007

So the government has done it again. After managing to procure only about 11 million tons out of the targeted 15 million tons from our farmers, the government has gone ahead and imported about half a million tons from the international market at a much higher price. A process which, in its entirety, ends up [...]

Niccolo Explained The Difficulty

Sunday, June 10th, 2007

But India needs to renew its love for rights and freedoms Jerry Rao’s op-ed in today’s Mint is a must read. That is why we are forced to ask ourselves: should we not have a political party that is a khullam-khulla defender of markets and an opponent of an intrusive state? S.V. Raju of the [...]

Protect The Chain, But At What Cost?

Tuesday, May 29th, 2007

Recently the West Bengal West Bengal State Marketing Board chairman Naren Chatterjee had to say this about Metro’s entry into the state, “have heard that they will sell directly to the trade then what will happen to the people in the chain, they will become jobless. We will not allow any one who disturbs the [...]

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