Another Basu and another economist!The World Bank on Wednesday named Kaushik Basu, an Indian national who previously advised the Indian government, as its chief economist, placing a candidate from an emerging market country in a key position at the global development lender.
Indian Economy
Re: Indian Economy
World Bank Appoints Chief Economist From India
- arjun2761
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Re: Indian Economy
And one of my contemporaries at IITD (Raghuram Rajan) has taken Kaushik Basu's spot in India after having previously been the chief economist for the IMF -- so these two have mirror image careers...
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Re: Indian Economy
I think it is good for both farmers & consumers . Perhaps, only affecting the traders but remains to be seen to what extent.
- PKBasu
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Re: Indian Economy
This is slightly shameless advertising by the other Basu, but in (what I hope you will agree is) a good cause. I welcome all friends and well-wishers of India to visit this site:
http://prasenjitkbasu.blogspot.sg/2011/ ... -term.html
Please feel free (in fact, I implore you) to comment on the agenda for the party in particular. All Indians of integrity (including NRIs and PIOs) are welcome to join, but most of all I need as many people as possible to comment on various blogs on the site -- comments both for and against are welcome. Democracy, of course, thrives on argument!
I start with the basic premise: Jodi tor daak shune keu na ashe, ekla cholo re ("if nobody heeds your call, march on alone"), which inspired Gandhiji (and eventually the nation).
http://prasenjitkbasu.blogspot.sg/2011/ ... -term.html
Please feel free (in fact, I implore you) to comment on the agenda for the party in particular. All Indians of integrity (including NRIs and PIOs) are welcome to join, but most of all I need as many people as possible to comment on various blogs on the site -- comments both for and against are welcome. Democracy, of course, thrives on argument!
I start with the basic premise: Jodi tor daak shune keu na ashe, ekla cholo re ("if nobody heeds your call, march on alone"), which inspired Gandhiji (and eventually the nation).
- Sandeep
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Re: Indian Economy
In India people including some of the economists are looking at FDIs and rate cut from RBI as a magic pill than can solve all our woes. Sadly it is not so. India has got into a kind of muddle which no western country has ever seen. Traditional methods of growth or controlling Inflation will not work in India. We need some dynamic steps from our government and unfortunately UPA-II has been an utter failure in this respect. The government must dissolve and a fresh mandate is required, at this rate I see India reach abysmal depths from where it will take a long long time to get back to even 6% GDP growth rates. I have a feeling that Indian growth story will end prematurely! Frustrating to see India go this way.Kumar wrote:What did you guys think about the recent govt. ruling about the FDI in retail?
In spite of government allowing FDI in retail and aviation there are not many takers. I think people abroad have to come to know the difficulty in doing business in India.
- jayakris
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Re: Indian Economy
I need a shot of optimism on this from PKB. Sandeep seems to have given up on India. Jay
- prasen9
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Re: Indian Economy
What needs to be done? I would like them to cut the redtape and go for full liberalization with controls to stop monopolies and abusive practices.
- Sandeep
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Re: Indian Economy
Seriously, you got to be in India to understand it. It just baffles me to see people going after Subba Rao for the rate cut. It neither held up Indian economy nor it will help unless the lending rates in India from banks will probably come down to 5% levels which I think is impossible. The current lending rate for businesses is at 14%, bringing it down to 12% is not going to help much.jayakris wrote:I need a shot of optimism on this from PKB. Sandeep seems to have given up on India. Jay
Think about it, telecom, mining, power, steel, cement, airline, textile industries are all struggling. Software and services are the only two industries which are going gangbusters while automobile is doing slightly better. Every other sector is nearing collapse and I am not kidding or exaggerating when I use the word collapse. The worst part, government has a major hand in killing these sectors. Manufacturing is at an all time low and I have heard many senior people say that they have never come across such a crisis in their lifetimes.
What explains this, food inflation at an all time high but farmer is only getting poorer. There are 30-40% people below poverty line who are struggling for basic amenities and industries are facing major labor shortage! How can these two go hand in hand? We are in a big time mess. Really big
There is a major power shortage through out the country with half the thermal power plants shutting down due to lack of coal, Andhra Pradesh (third biggest state by GDP) is facing an unprecedented 15 days power cut a month for Industries, Southern Tamil Nadu is facing almost 14 hours power cut a day and our center is mutedly looking at all the tamasha going on with respect to CAG report!!!
Supreme court has no business interfering with policy decisions. The day they started canceling spectrums and coal blocks is the time India's decline started. There is a policy paralysis now because of this.
Budget deficit of over 5.3% for a country growing at over 6%!!! It must be a joke, instead of the deficit coming down it is only ballooning.
India for sure is doomed unless we see a strong able prime minister at the helm. Sadly neither the Congress nor BJP has an answer. Cutting down rates and opening up markets is not the solution for India. The ease of doing business should be improved dramatically and foreigners should feel welcome, retrospective taxes on Vodaphone or canceling Telenor spectrums is not helping in anyway. Pathetic state of affairs
I will be pleasantly surprised if anyone can provide a positive twist to our economy and horrendous state of affairs.
- prasen9
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Re: Indian Economy
Opening up the markets should go with removing red-tape too.
The RBIs shoring up the rupee is resulting in inflation staying high.
Is power a state issue or a central issue?
The RBIs shoring up the rupee is resulting in inflation staying high.
Is power a state issue or a central issue?
- Sandeep
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Re: Indian Economy
What else can RBI do with the Rupee? RBI has a very limited ammunition left at the moment. IMO they are doing a good job with whatever limited resources they have, it is time for government to step up and sadly it is not going to happen.
- Sandeep
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Re: Indian Economy
Another mess up from India, our companies are importing Iron ore inspite of huge reserves in the country.
http://www.moneycontrol.com/news/curren ... tml#toptag
http://www.moneycontrol.com/news/curren ... tml#toptag
- Atithee
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Re: Indian Economy
I did not expect such a well written response to one more of the idiotic petitions. The Justice's examples may be questionable, but I think he did a good job responding.
http://www.ndtv.com/article/india/justi ... him-303556
http://www.ndtv.com/article/india/justi ... him-303556