24 results found

Making RBI accountable

The first year of operation of the Monetary Policy Committee has imposed considerable costs on the economy with very few benefits. What explains its decisions?

RBI, enough of elevator economics

The inflation forecast is the most important aspect of the most crucial economic decision that the RBI makes — it needs to be more in tune with reality.The Indian economy has likely gone through a mega structural-break experience via demonetisation....

Jaywalking at the RBI

RBI’s obstinate refusal to cut policy rates, and the moving of its policy stance from neutral to accommodative, is not based on economic logic. Both headline and core inflation data argue for a rate cut

The Little Revenue LTCG tax

The best tax policy for the taxman is one that maximizes tax revenue, and not one that maximizes his morality, or his employment, or his discretionary powers.

Budget 2018/19: Revolutions and Regression

With the government swimming in tax revenues, it makes little economic, or revenue, sense to reintroduce the long term capital gains tax after a hiatus of 14 years. Why?!

Gujarat 2017, lessons for all

This election was the first since slow economic growth was apparent and in the data. A slow economy, however, was not the only factor — after all, in Himachal Pradesh, the BJP won by a large margin.

Gujarat 2017- A turning point?

For whom will the Gujarat election toll – a confident BJP or a reviving Congress? The opinion polls suggest that Gujarat may not be a Rahul Gandhi moment.

Give accountability a chance

Here is a modest proposal to bring about much-needed accountability to the decisions of the RBI (and MPC): Let the RBI governor be questioned by Parliament twice a year

Demonetisation and its contents

It was about both politics and economics. It is an acknowledged political success and early ‘returns’ indicate an economic success story as well.

Hungry for publicity

Surveys on hunger suggest that like poverty, it is more a relative, than absolute, concept. The best policy to increase nutrition is via sanitation and clean water.