RBI vs. Government

The RBI vs. Government battle is intensifying. The Narendra Modi government intends to keep pressing demands for the country’s central bank to relax lending curbs and hand over surplus reserves, amounting to whopping 3.6 lakh crore, even if it risks provoking a resignation by the bank’s governor. After the debacle of demonetization and GST, the […]

Is “Excessive Competition” a Problem?

The Finance Minister of India Mr. Arun Jaitley at the National Conference on Public Procurement & Competition Law recently said that, We wanted multiple players because they would ensure the largest consumer interest. But there can be several other impacts. Excessive competition, at times, can result in pricing of a nature that that sector of […]

Rafale Deal and Corruption

The Modi government is embroiled in an alleged corruption case of  Rafale Jet deal with the French government. Opposition parties are now gunning for the resignation of prime minster Narendra Modi. They have accused him of personally influencing and altering the deal, which was originally put in place by the former UPA government, to benefit […]

Rats are Leaving Modi’s Sinking Boat

Two Arvinds, Arvind Panagaria and Arvind Subramanian, have resigned from the top economic positions in the Modi government before their terms ended. Arvind Panagaria was the vice chairman of the NITI Aayog, the former economic planning commission, and Arvind Subramanian was the chief economic advisor. They both resigned and went back to their former teaching […]

2.11 lakh crore for PSU Banks to Boost Lending

The finance minister of India Mr. Arun Jaitley announced a bailout package of 2.11 lakh crore (US$ 2.11 Trillion) for the public sector banks of India yesterday saying that this will boost their lending activities, which is right now under pressure because of their huge non-performing assets (default loans). The logic behind boosting lending of […]

Should Indians pay taxes to become a developed nation?

The finance minister of Narendra Modi government Mr. Arun Jaitley recently, in the Institute of Chartered Accountants while celebrating Chartered Accountants  Day (sic), said that India should have a “new normal” with citizens ready to pay the taxes they need to pay and a new mindset to move from a developing nation to a developed […]

GST (Goods and Service Tax)

GST india

The Narendra Modi government is ready to implement its new tax regime viz., GST (Goods and Service Tax) from the month of July 2017. They have now announced the applicable tax rates for some 1211 products. The Finance minister Arun Jaitley is telling that under this new tax regime tax filing will become simple and […]

Rising Protectionism in India

The Finance Minister of India, Mr. Arun Jaitley, who is attending ‘Asia’s Economic Outlook: Talking Trade’ in Japan right now, recently said that, Protectionism can blunt US firms’ efficiency … US firms may become sluggish if cheaper products and efficient services are cut off to them due to protectionist policies … India has so far […]