- Elevating consumer protection on G20 agenda for a balanced future
Livemint, September 07, 2023
- India needs to urgently implement front-of-pack labelling system for processed food
Money Control, August 23, 2023
- We should take a holistic look at transportation safety
Live Mint, August 10, 2023
- Can Generative AI grow better jobs?
Moneycontrol, July 27, 2023
- For the Benefit of Consumers “Front of Pack Labelling”
Rajasthan Patrika July 07, 2023
- Modi’s US visit: From handshakes to outcomes
The Economic Times, June 30, 2023
- India’s strategic role in BRICS — bridging East and West
Policy Circle, June 13, 2023
- Why it’s time to reform the appellate institutions
The Economic Times, June 06, 2023
- Gig Workers’ Welfare: Rajasthan shows the way by proposing a law
Moneycontrol, May 25, 2023
- Need to prepare the workforce for the future of jobs
The Economic Times, May 24, 2023
- Companies, government need to focus on ‘S’ in ESG to build human capital
Moneycontrol, May 18, 2023
- Indians in Australia: New Delhi must leverage the diaspora to its advantage
Moneycontrol, May 09, 2023
- G20 for Africa
Financial Express, May 04, 2023
- Consumer protection in the G-20 agenda
The News on Sunday, April 30, 2023
- Stepping up AU’s engagement: The way forward
Modern Ghana,April 18, 2023
- Missing Piece of the Puzzle: Importance of Consumer Protection in the G-20 Agenda
Modern Ghana, April 17, 2023
- Failure is not an option
Financial Express, April 11, 2023
- Xi’s shadow on the Indo-Pacific
Financial Express, March 30, 2023
- India needs a reimagination of trade policy discourse in the country
Economic Times, March 27, 2023
- The Indo-Pacific’s defining relationship
Financial Express, March 16, 2023
- The future is renewables: Transit fast but smarter
Economic Times, February 25, 2023
- Why courts should study the economic impact of decisions
Live Mint, December 30, 2022
- Tobin Tax
Rajasthan Patrika, December 28, 2022
- Levy a Tobin tax for the climate loss and damage fund
Live Mint, November 30, 2022
We require an imaginative approach to raise funds without burdening any government, and not by robbing the rich to pay the poor.
- Here’s how G20 can fix the sustainable development funding problem
The Economic Times, November 26, 2022
G20 committed a stimulus package amounting to 1.1% of the world’s GDP to resolve the global economic crisis at the London summit in 2009. Of the G20 countries, only the US and China responded with decent packages.
- Festival sales ‘great’ only for e-com companies
Financial Express, October 25, 2022
Large e-commerce companies have launched their annual festival sales, luring consumers with hefty discounts. It has been estimated that e-commerce companies will garner sales of around $12 billion in the festive season.
- Ensure consumer welfare during tokenisation
Financial Express, September 24, 2022
To enhance the safety and security of card-based online transactions, the Reserve Bank of India has mandated the operationalisation of the Card on File Tokenisation (CoFT).
- Improving Rajasthan’s Ease of Doing BusinessFinancial Express, September 03, 2022
In 2021, Rajasthan slid from being a Leader in the Ease of Doing Business (EODB) ranking of states to being an Aspirer. Considering its poor unemployment and fiscal situation, Rajasthan must attract more investment into labour-intensive sectors, making better EODB essential.
- What is to be done with India’s defence offset policy!
Economic Times, August 26, 2022
Recently, the Minister of State for Defence Ajay Bhatt’s reply to John Brittas in Rajya Sabha, on the lapse in Offset Obligation, signals the need for a new outlook on India’s defence offset policy. As per the statement, vendors have lapsed on offset obligation in 21 contracts in the last five years.
- Transforming the transformation vehicle
Financial Express, August 4, 2022The recent change in guard at the NITI Aayog augurs well for the country, with the new leadership’s vision closely aligned with the transformative potential of the body’s charter.
- We must bridge our ‘social’ deficit in ESG investments
Livemint, August 2, 2022Stakeholders should urge a focus on worker welfare for firms in India to meet well-rounded ESG goals
- 5G, competitiveness, and growthFinancial Express, July 28, 2022The use cases of the low latency (lesser delay) and reliable connectivity 5G will determine the revenue streams and dictate whether investments by telcos become sustainable or not.
- Building the drone ecosystem, and creating future-ready jobsEconomic Times, July 27, 2022As drones are gaining prominence, several sectors and industries are incorporating them into the plethora of services being offered.
- Agnipath: Necessary reform, unnecessary babelEconomic Times, July 11, 2022The Agnipath scheme, announced on June 14, is a transformative scheme which introduces short term armed forces enlistment system in India. Following the announcement, massive protests erupted in many states, with youths taking to the streets to express their dissatisfaction with the scheme.
- Why RBI should not enforce card tokenisation mandateEconomic Times, June 23, 2022For tokenisation to work, entities in the payments value chain – issuer banks, card networks, payment gateways (PGs), payment aggregators (PAs), acquirer banks and merchants – are dependent on each other for testing and integrating viable solutions.
- Is it time for India to go for competitiveness legislationLivemint, June 1, 2022India has been on a steady path of reforms for its economy to achieve better competitiveness. Economic reforms include digital growth, trade policy reforms and a mix of inward and outward looking measures.
- Can India become competitive while pursuing climate resilient development? Difficult but possibleEconomic Times, May 08, 2022The recently released report of the Intergovernmental Panel on Climate Change (IPCC) in February, 2022 has made it clear that the future lies in climate resilient development, or nothing. Following on the heels of COP26 it has suggested serious and urgent attention to adaptation of climate risk management and mitigation policies, so that the goal of 1.5 degree temperature is met.
- Human capital growth through social impact investmentEconomic Times, April 18, 2022Human Capital is a measure of education, capacity, skill, and attributes of a worker and has the potential to influence the productivity capacity of a worker.
- A six-point agenda for India to raise its trade competitivenessLivemint, April 17, 2022Exports can boost overall economic growth and domestic reforms could help us gain a global edge
- The new TRIPS “waiver” solution is misguidedEconomic Times, April 12, 2022Per a leaked draft, India, South Africa, the EU and US have shaken hands on a WTO secretariat’s response to the pandemic (Draft).
- A rich India without Indians getting rich: Why ‘worker welfare’ is an important determinant of investment decisionsThe Economic Times, March 28, 2022India is at the cusp of economic transformation, where it is laying the foundation for building a better and sustainable work environment.
- Budget 2022: A growth-oriented approach to “Amrut Kal”The South Asian Times, February 21, 2022The Indian economy was not in great shape before the pandemic but the sudden onset of it gave a reason for the unprecedented dip to be justified.
- 5G rollout and aviation safety: Need solutions over long termAsian Age, February 17, 2022The recent fiasco concerning 5G telecom services and civil aviation safety and security in the United States has been resolved for the time being, after some patchwork measures. Flights from other countries have now resumed, and other aviation authorities have confirmed that the issue was specific to the United States.
- Connecting the dots: A just energy transition, workforce migration and employment opportunitiesEconomic Times, February 12, 2022Almost 70 per cent of India’s energy portfolio comes from fossil fuel-based generation. Apart from being the backbone of our energy sector, coal has multiple socio-economic implications in a developing nation like India.
- Connecting the dots: Nuclear energy for ‘just transition’ in IndiaEconomic Times, February 03, 2022In the transition from conventional fossil fuel-based power generation to an alternative resource-based energy portfolio, nuclear energy plays a significant role to help economies achieving zero carbon footprint targets while reducing socio-economic poverty including offering alternatives to existing jobs.
- It’s time for the world to reform capitalism from withinLivemint, January 17, 2022We witnessed capitalism in all its colours during the pandemic. It was able to incentivize science to develop and produce vaccines for the entire world in record time.
- Farm reforms: Myths and realitiesThe Economic Times, January 12, 2022The repeal of the three newly enacted farm laws by the government has set back the whole reform process. Because, it could not explain the benefits to some farmers. It has also engendered a fresh thinking about the reform process.
- Dear RBI, don’t penalise consumers and merchants for non-compliance by other stakeholdersEconomic Times, November 29, 2021While the RBI must be lauded for its visionary stance of mandating CoFT in the interest of promoting safe and secure digital payments for consumers, there exist implementation challenges, which may bear unintended adverse consequences for consumers and merchants.
- Utilize a rear-view mirror for further telecom reformsLive Mint, September 21, 2021The future of the buoyant telecom sector in India seemed rickety until last week, when the government finally bit the bullet and announced numerous structural and procedural reforms for the industry.
- Dear RBI, don’t make digital payments difficult for consumersEconomic Times,September 20, 2021The Reserve Bank of India has been on the forefront for facilitating a broad-based financial restoration from the pandemic. Because the RBI would have famous, whereas there are indicators of revival, we aren’t but out of the woods.
- Vaccination without discrimination: Equitable access now, for equal opportunities laterEconomic Times, August 17, 2021The stark differences between the vaccinated and the unvaccinated will soon play out in cross-border contexts, in terms of limiting opportunities in aspects of services trade, such as travel, tourism and education, and broader access to avenues of mobility and employment.
- A check list for trust-based governanceRajasthan Patrika, August 07, 2021
- It’s Now Or Never For The Indian Telecom IndustryBloomberg Quint, Aug 05 2021The government must act fast to protect consumers.
- A check list for trust-based governanceLive Mint, August 05, 2021The ‘sabka vishwas’ part of Prime Minister Modi’s slogan can be realized if 10 must-dos are carried out.
- The world requires a trust-based model of governanceLive Mint, July 21, 2021Decisions that are thrust upon everyone from above do not make for a fair and equitable world order.
- Ignoring the welfare of workers growing vicious circleRajasthan Patrika, July 6, 20221
- The evolving ecommerce ecosystem has contributed significantly to India’s consumer welfareEconomic Times, June 28, 2021It’s incorrect to blame the carnage all around us on the covid pandemic alone. It is our failure to prepare for such crises despite the knowledge that they will recur that is chiefly at fault.
- Let’s not deceive ourselves by blaming just the pandemicLivemint, May 28, 2021It’s incorrect to blame the carnage all around us on the covid pandemic alone. It is our failure to prepare for such crises despite the knowledge that they will recur that is chiefly at fault.
- People’s acceptance is the key towards multi-stakeholder led approach of developmentEconomic Times, March 06, 2021In India, and indeed many countries around the world, development work is seen at a crossroads with protecting the world’s natural environment. The last budget was quite a change from its earlier versions. It was bold, transparent and growth oriented.
- How Can India’s Judiciary be More Economically Responsible?The Wire, February 26, 2021In India, and indeed many countries around the world, development work is seen at a crossroads with protecting the world’s natural environment.
- Inside Sterlite Copper case: People, the big casualty of the transition from prot to planetEconomic Times, February 19, 2021The debate of balancing human rights and economic rights is not a new one. Perhaps one of the oldest facets of this dichotomy is how to harmonise environment and individual economic and livelihood rights.
- It’s time to reform how India spends borrowed moneyLive Mint, February 11, 2021India’s big expenditure plans are laudable but resources must be used efficiently. Our interest payments exceed productive spending, which often falls short of its target.
- Termites and un-ease of doing businessTimes of India, February 05, 2021Corruption in India has grown to gargantuan proportions, in spite of the fact that in high places it is not so visible. It saps the economy and causes delays and discomfort in everything that we do, or try to do.
- Vaccination plan for an ailing Indian economy: Job creation agenda needs a resetEconomic Times, January 29, 2021As we eagerly wait for a historic budget in once-in-a-lifetime situation of Covid-19, the issue of resilience, both economic and societal, becomes extremely significant going forward.
- Adopt an offensive strategy for key economic decisionsLive Mint, December 24, 2020If Nobel laureates like Richard Thaler cautioned us against seeking confirmation of our biases, leaders like Barack Obama have shown how to get around these challenges.
- Addressing the Eclipse over Sunrise Sectors in IndiaThe Economic Times, December 20, 2020“We are furthering Government’s agenda by bringing hundreds of jobs here, despite which we are not getting the promised subsidy benefits on time”, said the owner of a biscuit manufacturing plant in North East Mega Food Park in Nalbari, Assam. He said this when asked about the main challenges faced by their enterprise, during our field visit for the study on Good and Better Jobs in India.
- The difficulty of decoding business incentive schemesLive Mint, November 19, 2020They should be simplified and freed of bureaucratic clutches for them to prove truly effective.
- Boost economy beyond Economics 101The Economic Times, November 11, 2020A couple of months before the nationwide lockdown was imposed in March, Finance Minister Nirmala Sitharaman presented the Union budget, which was premised on three main themes: aspirational India, economic development (for all), and a caring, compassionate, and humane society.
- Don’t submit to the tyranny of doing-business rankingsLive Mint, September 30, 2020In his classic book, The Acquisitive Society, written a century ago, the Indian-born English economic historian R.H. Tawney criticized modern capitalist and industrial societies for promoting excessive economic self-interest. He cautioned nations against moving with the energetic futility of a squirrel in a revolving cage, and advised recourse to moral principles.
- Jobs Crisis Brought on By COVID-19 Requires a Healthy Dose of TripartismThe Wire, September 18, 2020Workers, employers and the government need to come together to ensure that economic revival is inclusive. A total of 6.8 million daily-wage earners lost their jobs in India since April, 2020, as per the recent Centre for Monitoring Indian Economy report.
- Multilateral cooperation will be the cornerstone of internet economyEconomic Times, August 13, 2020Globalisation has had its hey days since 1980s. In 2008, the financial crisis sent a rude reminder that all was not well with how people lived and worked. A decade later trade war between world’s two largest economies brought down the euphoria that the world is an ever-integrating global village.
- Constant interaction between society, State and market through communities is key for progressEconomic Times, July 03, 2020A dispassionate reader will find many common thoughts in Thengadi’s and Rajan’s ideas. Samaj, Sarkar and Bazar — society, State and market — have to work as per complementary needs of each other.
- What a workforce database could do for self-relianceLive Mint, May 21, 2020Newspapers have been filled with the sad plight of migrant labour moving around in panic, meeting with accidents and treated as if they were a commodity, not human capital.What started as a health crisis is now turning into a ‘black swan’ event for the global economy and society. Staring at an uncertain future of work, the lockdown has rendered the workforce, in particular the vulnerable informal workers, stranded and without any stable source of income.
- After Lockdown, Task of Marrying Industrial Operations and Social Distancing BeginsThe Wire, May 10, 2020What started as a health crisis is now turning into a ‘black swan’ event for the global economy and society. Staring at an uncertain future of work, the lockdown has rendered the workforce, in particular the vulnerable informal workers, stranded and without any stable source of income.
Reclaiming lost glory: Systemic solutions are the need of the hour for modern Indian textile industry
The Economic Times, May 06, 2020
With factories shut, shipments stranded and payments delayed, due to Covid–19, the textile and clothing sector is going through dark times indeed.
- View: India needs a complete regulatory overhaulEconomic Times, April 20, 2020When PM Narendra Modi declared a 21-day national lockdown from March 25, and later extended it till May 3, he forgot to mention that India’s infamous regulatory quagmire was immune to it, and actually acts as sand in the wheels of economic progress.
What the Pandemic Means for Large-Scale Indian Solar Power Projects Still in the Pipeline
The Wire, April 16, 2020
Over the past few weeks, the coronavirus has grown from being just a problem for China to a global one, hitting the prevailing global supply chains very hard and causing major economic disruptions amidst an uncertain future.
Enable e-commerce to disable Covid-19
Economics Times, April 14, 2020
The Covid-19 pandemic has disrupted and impacted the daily lives of citizens in an unprecedented manner. Governments continue to endeavour hard for protecting lives by imposing lockdowns, testing, segregation, and treatment. At the same time also restricting outdoor movement except for supplying and procuring essential goods and services.
COVID-19 Crisis Offers an Urgent and Much Needed Reset Point for India’s Food Processing Industry
The Wire, April 06, 2020
The COVID-19 pandemic and subsequent lockdown has brought the country to a standstill. With factories shutting down in almost every economic area, there is a pressing demand from almost every industry for immediate relief measures from the government.
The current state of cooperative federalism in India
Live Mint, March 04, 2020
Amid the growing rhetoric of strengthening cooperative federalism in India, it is useful to pause from time to time and review the actual progress. The ongoing budget season is the right time to carry out a realistic assessment.
View: Labour laws are not the only villain hampering growth as they are made out to be
Economic Times, February 22, 2020
Overall, the Economic Survey 2019-20 is a good document. However, it simply repeats popular views without analysis of facts in some matters. Glaringly, it seems to squarely blame labour laws for suboptimal entrepreneurial activity, while ignoring other important factors whose impacts it downplays.
Communication is the key
Times of India, February 11, 2020
In the ensuing budget, the state does not have the desired resources to do all what people would like it to do. Hence, it is important for the government to communicate to people what it plans to do and how it will impact their lives.
Initiate expenditure reforms for budgetary credibility
Live Mint, January 22, 2020
The gross domestic product (GDP) of the state of California in the US is around $3 trillion. Bigger than India’s GDP, it has been growing steadily for a decade now. On 10 January 2020, California’s governor released his budget proposals for the year. Reforms and investments in education, health and housing have been prioritized, and the budget documents put forth in great detail the sources of finance, manner of expenditure and process of reforms.
Geopolitics & the rollout of 5G: The way forward
Deccan Chronicle, January 18, 2020
The first phase of the US-China trade deal that has recently been signed breaks the two-year trade confrontation between the two nations. However, word has it that the partial deal may not offer much relief to Huawei. In a bid to block China’s ambitions of dominating the tech industry, including the crucial 5G technology, the United States had earlier called for restricting Chinese companies from participating in 5G trials not only in the US, but in its allied countries as well.
- The relevance of a good competition policy to our aimsLive Mint, December 26, 2019A policy that ensures truly competitive markets could help India plug the gap between its targeted and projected growth, and thus help the economy reach $5 trillion by 2024-25
US, India need to work together on innovation for mutual prosperity
Asian Age, December 03, 2019
Today, the relationship is extremely friendly, thus expanding the scope for stronger cooperation across the spectrum, including innovation.
5G tech will pave way for new applications, services & solutions
Asian Age, October 30, 2019
Apart from these already known use cases, 5G will also present various opportunities for start-ups for devising new business models and services in various sectors such as entertainment, transportation, healthcare, education, etc.
The key to Indian economy is in better wages for the masses
Economic Times, October 11, 2019
As per the latest World Economic Forum’s Inclusive Development Index, India ranked at a low 62nd out of 74 emerging economies. While the incidence of poverty has declined over the last five years, sixty per cent of Indians still live on less than Rs 230 per day. This, alas, is accompanied by inequality both in terms of income and wealth.
Can India’s Multi-Polar Commitments in the Indo-Pacific be a Game-Changer for the U.S.?
The Wire, September 21, 2019
There is no dearth of converging narratives between India and the U.S. But it depends upon how agile the US can be in accepting India’s stance on Afghanistan, Iran, and the Indo-Pacific.
Use Crisis as an Opportunity to Restart Reforms, Lessen Winners-Losers Divide
Deccan Chronicle, September 20, 2019
The current situation needs to be presented as a timely opportunity to push the national integration agenda of the government.
Ease of running a business: What Siddhartha forces us to reflect on
Asian Age, August 23, 2019
Siddhartha wanted to be a “wealth creator”, as do thousands of entrepreneurs who open startups in India every year.
Budget 2019 is long on infrastructure development but short on human development
Financial Express, July 09, 2019
Budget 2019-20: For employment generation, the government intends to boost agro-rural industries through cluster based development with a focus on bamboo, honey and khadi clusters.
Government needs to do much more to attract investments
Outlook India, July 05, 2019
Finance Minister Nirmala Sitharaman”s Union Budget 2019-20 presented the vision of India becoming a $5 trillion economy in the next few years driven by the ”virtuous cycle” of investment.
Positive signals from G-20 meet as diplomacy triumphs over rhetoric
Asian age, July 02, 2019
The just-concluded (June 28-29) Osaka G-20 summit witnessed a conciliatory approach on the part of American President Donald Trump on a range of issues threatening global peace and security. Not only that, he agreed to resume talks with China to resolve their bilateral disputes over the treatment of trade and technology, he showed conciliation towards other pressing issues such as 5G technology and Iran.
India must take jobs to its people and not vice-versa
Live Mint, June 26, 2019
One of the first things that Prime Minister Narendra Modi has done in his second term is to set up two separate yet interlinked cabinet committees on investment and growth and employment and skill development, both to be headed by him.
Leave no one behind’, the agenda for Modi Sarkar 2.0
Live Mint, May 26, 2019
The last general elections broke all caste barriers and people overwhelmingly voted for Narendra Modi and his candidates. There were two remarkable things, among others, that Modi said in his victory speech that struck me.
If lateral entry of experts helps better governance, why not lateral exit too?
Asian Age, May 16, 2019
On April 12, 2019, the Union Public Service Commission (UPSC) announced nine candidates as lateral entrants to serve as joint secretaries in various ministries of the Government of India.
- Leveraging India’s trade competitivenessAsian Age, February 14, 2019Job creation and farmers’ welfare are among the key contemporary challenges of our country. Thanks to the “Make in India” campaign, more than 120 new manufacturing units have created about 4,50,000 jobs in the mobile phone industry over the past four years. Similarly, a new agriculture export policy envisages the establishment of agro-specific zones to enable farmers to gain from international markets.
- India Has Struggled to Link its Defence Needs to Strategic GoalsThe Wire, May 12, 2018There has been a rapid change in geopolitical constellations around the world. Citadels of free trade have turned protectionist and the previously more-inward looking nations are now advocating for integrated global commerce and cooperation. Disruption has become the keyword and managing it, a challenge.
The role of finance commissions in sustainable development
Live Mint, March 04, 2019
They need to play their part by recommending empowerment of local governments to enable good governance.
An e-commerce policy based on assumptions is unlikely to fulfill our aspirations
Money Control, March 04, 2019
The e-commerce policy needs to be forward looking and informed by ground realities. It needs to design well-thought out strategies through comprehensive stakeholder consultation.
Posturing not enough, only promoting SEZs will bolster FDI inflow
Asian Age, March 01, 2019
The government had constituted a committee under the chairmanship of industrialist Baba Kalyani to review the SEZ policy.
- Need a fresh strategy to let economics trump politicsLive Mint, January 31, 2019We are becoming a part of the world wherein economics is being driven by politics Alot has been written about the recently released Strategy For New India @ 75 by the National Institution for Transforming India (Niti) Aayog.
The potential of AI in empowering consumers
Live Mint, January 09, 2019
In April 2018, the department of economic development, Dubai, launched a “Smart Protection” service, which adopts Artificial Intelligence (AI) to respond efficiently to consumer queries and resolve their complaints.
Busting myths: ‘Make in India’ to ‘Design in India’
Asian Age, December 19, 2018
One of the objectives of the NDCP has been of enhancing India’s contribution to GVCs of mobile handset production.
Why ‘competitive federalism’ could help to boost India’s eco rankings
Asian Age, December 05, 2018
The recently-released “Doing Business Report 2019” by the World Bank gives a big boost to India in our efforts of promoting business entry. The country has jumped 23 places since last year and has been ranked 77th out of 190 economies this year in the Ease of Doing Business (EoDB) ranking.
Improving the business climate
Live Mint, November 27, 2018
The World Bank’s Doing Business 2019 report is out and the government has lapped it up for obvious reasons. No large country has registered gains like India in the past couple of years. The government deserves credit where it is due.
- What Stops India From Being Asia’s Next Big Factory?The Wire, November 22, 2018The US-China trade war is disrupting the functioning of global value chains (GVCs) that spread across East Asia, North America and West Europe.
Who will lead India’s transition in adopting electric vehicles
Asian Age, October 30, 2008
According to the World Health Organisation, 14 of the planet’s 15 most polluted cities are in India.
Empirical knowledge needed for job creation
Live Mint, October 29, 2018
We need to get down to the ground, at an enterprise level, to assess what works and why, and what it is that make enterprises value human resources.
Civil society can play a crucial role in managing global affairs
The Asian Age, September 12, 2018
The UN Day for South-South Cooperation is commemorated on September 12 every year. This year as the celebrations unfold it will help to revisit the role that civil society can play in far more empowered yet dynamic global south — one that is defined by rapidly changing geo-politics and multipolar world.
- Deregulation under the Modi governmentLive Mint, July 17, 2018The Narendra Modi government is nearing the completion of its term. Unsurprisingly, it is keen to list its achievements in the past four years and has deployed its entire machinery to spread its message across the country.
The riddle of greening Indian transport
The Asian Age, June 20, 2018
Electric vehicles (EVs) seem to be India’s missing piece in the jigsaw puzzle of green mobility.
Foreign policy from the prism of currency
Live Mint, June 14, 2018
It is the season of high-profile conferences. At the IISS Shangri-La Dialogue held at Singapore recently, Prime Minister Narendra Modi outlined his vision for the Indo-Pacific region, extending from the shores of Africa to the Americas.
India will have arrived when yoga becomes yog again
Asian Age, February 28, 2018
The opportunity may perhaps lie in the new foreign policy articulation from the United States.
The perils of going digital with an imperfect design
The Asian Age, February 15, 2018
For the contemporary world, digitisation is like a superhero; helping and selfless. Not only does it help individuals but regions and countries as well. This is the reason there was much buzz on digitisation at the last WTO ministerial, G20, APEC, Brics and so on.
Dismantle barriers to prosperity
Live Mint, January 30, 2018
Every year, in the months preceding the Union budget, the finance minister conducts a customary consultation exercise with relevant stakeholders to seek their “suggestions” for the budget. All stakeholders of similar categories are grouped together and different groups are met separately, disregarding any possibility of discussion on diverging interests and the need to achieve a balance.
- Delivering pro-poor developmentLive Mint, January 03, 2018The government must take appropriate steps to reinvigorate the rural economy for both economic and political reasons But for Prime Minister Narendra Modi’s relentless campaigning, inability of the Congress to highlight limitations in the National Democratic Alliance’s (NDA’s) urban development model, the role of None of the Above (NOTA) option, and copious amount of luck, the Bharatiya Janata Party (BJP) would have lost its Gujarat bastion.
- India needs entrepreneurs, not survivorsThe Asian Age, November 10, 2017The latest to join the list of important days in India is November 9, which has just been added to celebrate the National Entrepreneurship Day. Interestingly, it comes at a time when India has reported a significant improvement in World Bank’s Ease of Doing Business rankings even though the country is still ranked at a low 100th position.
- A unique opportunity with the PMEACLive Mint, November 03, 2017A closer look at the functions of the CEA and NITI Aayog points to a niche which the PMEAC can create for itself.
- Can India Double its Services Exports in Five Years?The Wire, October 27, 2017With increasing demand for Indian services worldwide and sustained support from the government, services exports have the potential to reach $300 billion by 2022.
- A new industrial policy for BharatLive Mint, October 11, 2017India’s new industrial policy must focus on improving overall competitiveness and avoid the lure of protectionism.
- In a digital democracy, who owns our data?The Asian Age, September 01, 2017 A private bill on data protection introduced in Parliament by BJD MP Jay Panda, too, spells out the need for “data portability”.
- A fundamental right to create jobsLive Mint, August 22, 2017To ensure large-scale job creation, the freedom to create jobs must be on a par with other freedoms guaranteed by the Constitution.
- Will a New Vice-Chairman Mean a New NITI Aayog?The Wire, August 09, 2017The success of Rajiv Kumar’s tenure, who has moved from the left of the ideological spectrum to the right, will depend whether he succeeds in moving the Aayog away from being a government mouthpiece and creating a shared narrative around job creation.
- CCI vs TRAI: The Difference Between Promoting Competition and Curbing Anti-Competitive PracticesThe Wire, August 01, 2017The best approach to solve the turf war is to have mandatory consultation between the regulators, which can be achieved by revisiting the legal framework.
- NITI Aayog: An institution to fix implementation issuesLive Mint, July 24, 2017NITI Aayog is responsible for monitoring and evaluating government schemes but its performance is below par During his last monthly radio address, Prime Minister Narendra Modi appreciated the importance of constructive criticism in strengthening democracy and the government’s performance.
- Getting GST rightTribune India, June 19, 2017Prevent overcharging and ensure benefits are passed on to customers. AFEW days remain for the adoption of the first-ever competition reform since Independence to create a seamless national market without any distortions.
- Doubling of farmers’ income needs more imaginationAsian Age, June 05, 2017There is enough evidence that increasing productivity does not necessarily result in increase in farm incomes.
- NITI Aayog and the emperor’s clothesLive Mint, May 25, 2017Instead of letting the government set the agenda, NITI Aayog needs to inform the government of its failings.
- Economically responsible justiceLive Mint, April 27, 2017Judges need to understand the complex linkages between various areas of governance and economic and legal activity today.
- Beyond governance by intentionsLive Mint, April 10, 2017Narendra Modi may claim that the intent behind his policies is good, but he must go beyond this to good implementation.
- Little sign of change in aftermath of notebandiThe Asian Age, February 28, 2017
Modi had promised that inconvenience caused by the decision will soon end and he certainly didn’t expect it to last this long.
- Better, faster Net options neededThe Asian Age, February 10, 2017Information provisioning, more than that available, can help consumers compare and decide on their purchases.
- Lower taxes to be competitiveThe Asian Age, January 27, 2017The finance minister stands at the crossroads and this Budget has the potential to make or break his legacy.
- The right processes for a good budgetLive Mint, January 24, 2017A transparent policymaking process is necessary for taking the right decision and obtaining a buy-in from stakeholders.
- Let CAG do reviews, not AayogThe Asian Age, January 05, 2017A review of the performance of such bodies appears in order; but the question is who should do such a comprehensive review?
- Sustaining transition to a digital economyThe Live Mint, December 28, 2016Don’t assume that the recent surge in online transactions is an irreversible move towards a digital economy.
- Heralding the Digital Economy Isn’t Enough, Can India Exploit it for Job Creation?The Wire, December 14, 2016Leveraging the job creation opportunity presented by the digital economy is a ‘natural fit’ for India, with demonetisation the perfect exercise for it.
- It Is Time to Address India’s Abysmal Job Creation RecordThe Wire, November 25, 2016More than 550 jobs were lost each day in the last four years in India, placing it behind Bangladesh and Vietnam in terms of job creation.
- Improving India’s job creation rankingLive Mint, November 15, 2016Structural reforms in factor markets are key for this labour-surplus economy to offer productive employment.
- Note ban: Centre didn’t plan properlyDeccan Chronicle, November 15, 2016It is essential for the government to think through all the implementation-related challenges of its policies.
- India’s ease of doing biz isn’t just about permitsThe Asian Age, November 09, 2016When the World Bank’s ease of doing business rankings showed that India has only gone up by one notch from 131 to 130, it sent the whole government into a tizzy. At the same time, the department of industrial policy and promotion with the World Bank also put out a comparison of Indian states on how their Eodb has been performing.Thus, India has been lately focusing more on the aspect of ease of doing business.
- How Does India Score Well on Competitiveness But Poorly on Ease of Doing Business?The Wire, October 17, 2016If India is to become truly competitive, the government must improve efficiency and transparency of public administration among other factors. It’s that time of year when the topic of competitiveness is again making headlines.
- Time has come for ‘Move India’The Hindu Business Line, June 29, 2016In the monsoon session of Parliament, the Goods and Services Tax (GST) is likely to see the light of the day. That would be one of the most significant competition reforms India would adopt in recent times to create an internal market.
- Make in India: Governance is the keyThe Asian Age, May 31, 2016In the context of a nation, organic change is always in the making. It is slow but steady, whereas sudden paradigm changes happen when either organic churning reaches the tipping point or a strong leadership takes charge.
- Right path to a sustainable futureThe Hindu Business Line, May 26, 2016India needs to grow 10 per cent a year for the next one and a half decades if it has to become a $10-trillion economy and get rid of poverty. This was the central message of a recent presentation made by Amitabh Kant, CEO of NITI Aayog, to the Prime Minister.
- Create a benchmark for quality educationThe Asian Age, May 23, 2016At two separate public events recently, Niti Aayog CEO Amitabh Kant laid great emphasis on health and education. India, he stressed, cannot register high growth for long without a good education (and healthcare) network; and for a good education system to develop, we must pose a challenge for states and assess their performance on a real-time basis.
- Budgeting for structural reformsThe Hindu BusinessLine, Mach 17, 2016Much has been written about the 2016 Budget, mainly in praise and some critical. The Budget is generally considered the economic policy statement of the government. Hence, by not speaking about structural reforms, we have lost some ground to grow.
- Bureaucracy has had it too easyThe Hindu Business Line, April 14, 2016Only now are they in the line of fire. Some lateral thinking is required to reform the administration.
This seems to be a season of some good news as far as administrative reforms for economic growth is concerned. The commerce department at the nudge of the Prime Minister’s Office is considering setting up a large specialised team to negotiate international trade deals. Such a team would comprise specialists drawn from the Indian Trade Service, Indian Foreign Service and trade lawyers.
- Investment in India: A few seductive tricksEconomic Times, March 15, 2016Downgrading India as an investment destination seems to be the flavour of the season for international rating agencies. Ambiguous and inconsistent regulatory and policy architecture must shoulder a significant portion of the blame.
- Obstacles to cooperative federalismBusiness Line, February 19, 2016The bureaucracy has been unable to take it forward, thanks to its reluctance to share information and ideas.
- Protect intellectual property, for startersBusiness Line, January 22, 2016The government is on a high gear to induce growth and create new jobs through wider entrepreneurship, the latest endeavour being the grand launch of the Start Up India campaign last week. Technology will play a critical role in this effort.
- Independent regulator is needed on land acquisitionThe Asian Age, December 08, 2015The debate on the land acquisition law has turned full circle with the centre now asking states to make their own laws. It is important to understand that land is a hereditary asset and a means of livelihood not only for many owners but also those dependent on it. On the other hand, there are critical issues of jobs to be created for around 12 million people each year.
- Indian industry’s fundamental flawThe Hindu Business Line, December 24, 2015Steve Jobs once said, “Innovation distinguishes between a leader and a follower.” The Centre’s ‘Make in India’ initiative also aims at transforming India into a manufacturing leader and thus, is being promoted aggressively by the Prime Minister on all platforms.
- What about ease of doing farming?The Hindu Business Line, December 10, 2015The ministry of agriculture was renamed recently as the ministry of agriculture and farmers’ welfare. A welcome step and, perhaps, the Centre will devote better attention to farmers’ welfare and not just agriculture.
- A renewed effort to achieve acche dinThe Hindu Business Line, November 26, 2015A cycle of low consumption impacting production needs to be arrested. Industry and agriculture require urgent reforms.
If the NDA government is elected today, with the mandate up to early 2019, what should its agenda be? No doubt, the objective should be sustainable and inclusive development aka acche din. But what steps can government take in three-years to generate visible benefits for it to get re-elected?
- Rebooting NDA 2.0The Hindu Business Line, November 12, 2015The Bihar result is a wake-up call to the Centre to push economic and governance reforms through consensus rather than filibustering. The results do not mean that the people have lost confidence in the Union government. But it has reinforced the need to ensure that reforms become sustainable through a wider consensus.
- Stabilise the civil servicesThe Asian Age, October 15, 2015The need for good governance has never been more urgent. It’s high time India not only implements the SC’s orders in relation to civil service and police reforms, but also makes them democratic..As French director and one of the founders of the French New Wave, Francois Truffaut said: “The film of tomorrow will not be directed by civil servants of camera, but by artists for whom shooting a film constitutes a wonderful and thrilling adventure.”.
- Why States must mean businessThe Hindu Business Line, October 02, 2015Narendra Modi faced a barrage of comments during his recent interactions with American business honchos in New York. In unison, they said he was doing good work but must continue to do more, and faster. They were not shy in referring to a host of obstacles such as complex regulations, excessive approvals, confusing bureaucracy, red-tapism, taxation issues, poor infrastructure, etc. “It is not an easy place to do business” said one gentleman.
- India’s change of tack on climate issueBusiness Line, September 17, 2015The upcoming submission deadline for the Intended Nationally Determined Contributions (INDC) for the Paris Climate Summit in the present month and India hosting a meeting of Like Minded Developing Countries for the purpose, has focussed the attention of the entire international community on New Delhi, India being the last major player which is yet to announce its INDC. India will deliver soon, but on her own terms.
- Restoring law and order in ParliamentThe Hindu Business Line, August 21, 2015“The monsoon session of the parliament was washed out due to flooding of the well of the house,” says the contemporary weekly hoarding of Nana Chudasama on Marine Drive in Mumbai. This hoarding, carrying thoughtful remarks on contemporary issues, is an icon of Mumbai broadly reflecting the public sentiment. This sentiment has been echoed by none else than the President. The President is empowered, under Article 86(2) of the Constitution, to send specific or general messages to either house of Parliament.
- A financial idea whose time has comeThe Hindu Business Line, August 07, 2015The Financial Sector Legislative Reforms Commission (FSLRC) was set up in 2011, with a mandate to rewrite and clean up the financial sector laws and to bring them in tune with current requirements. It drafted an Indian Financial Code, to regulate the financial sector, and submitted the draft Code to the government in March 2013…The FSLRC and Code gels well with the other reform initiatives the government has been working on…Consequently, the Code must be urgently adopted as, in the words of former PM Manmohan Singh, it is an idea whose time has come, and no power on earth must be allowed to stop it!.
- When nothing is resolved in courtThe Hindu Business Line, July 09, 2015India’s dispute resolution mechanisms are in bad shape, leading to abysmal contract enforcement. This must change. Conflict management is a complex art. Researchers have spent a lifetime identifying approaches and skills necessary to manage conflict resolution. Situations get further complicated in commercial disputes where high financial stakes are involved. To manage such situations, two draft legislations have recently been issued in public domain by the government. These are the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015; and the Public Contracts (Resolution of Disputes) Bill, 2015.
- Base NPE on credible dataThe Asian Age, July 09, 2015There’s no comprehensive and systematic data on the education system in India, and where it exists the government does not seem too serious about it… HRD minister Smriti Irani said the ministry would favour its own surveys over those conducted by ASER..
- Good days for real estateAmar Ujala, July 06, 2015
- There’s a gap between policy and practiceThe Hindu Business Line, May 29, 2015 The Modi government seems to settle for big ideas, hoping that good execution will follow. But that’s a big ask“ You are what you settle for,” quipped Janis Joplin, American singer-songwriter. This appropriately sums up NDA government’s approach during its first year in office Let’s take financial sector regulation. After making a big bang announcement in the Budget, the Finance Minister had to rollback his proposal to establish a ‘separate’ — note that the term ‘independent’ has been intentionally avoided — Public Debt Management Agency (PDMA). The government will now consult the RBI and come up with a detailed roadmap for a new agency. And there is no clarity if and when this roadmap will be made public.
- Jan Dhan – easier said than doneThe Hindu Business Line, May 01, 2015The unfolding of the financial inclusion tale in India provides significant lessons about the need for regulators and market players to come together…Two recent initiatives aim to completely transform this scenario. First, the Pradhan Mantri Jan Dhan Yojana (PMJDY), which saw the opening of 12.54 crore bank accounts and issued 11.08 crore RuPay debit cards by January 2015. Second, technological innovations, which have enormous potential to cut costs, making business sense to cater to the rural populace on the ground.
- Land Bill, a step in the right directionAmar Ujala, April 13, 2015Land Bill, a step in the right direction
The Hindu Business Line, April 02, 2015
The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Amendment) Bill, 2015 — also known as the Land Acquisition Bill — has kicked up a storm. Given that the title is the objective of the Bill, one wonders why it could not be labelled simply as Fair Land Acquisition Act. It would replace the old 2013 Act unanimously adopted by the Parliament. Faced with implementation problems, the current government has sought to make it simpler and is being labelled as anti-farmer. Alas, as in all such cases, politics may trump economics.
- Let’s get down to businessAsian Age, April 06, 2015What India needs is a coherent and systematic approach. While the urgency shown by the new government to bring about necessary reforms to help businesses is promising, it needs to be followed equally ardently with action
- States may not get more funds, after allThe Hindu Business Line, March 20, 2015…There seems to be a gap between Centre’s and States’ understanding in funding of development programmes, which needs to be urgently bridged. The Centre needs to clearly explain the rationale and impact of the changed devolution pattern, share of different States in schemes supported by Centre, and the need for States to raise own resources, should they wish to continue the programmes that remain underfunded…The NITI Aayog, currently occupied with the evaluation of social and economic schemes in partnership with the States, is probably best placed to do this task on behalf of the Centre.
- Budget strives for a competitive and growth oriented RajasthanDNA, Mach 11, 2015The budget has emphasised on construction of roads for connection between villages, and making land banks available for industries. To adequately focus on labour issues, the government has proposed establishment of a non-resident labour cell, and dedicated skill and employment department. In addition, commercial training of artisans has also been proposed. The government must be appreciated for the efforts it has made to capitalise factor conditions.
- The FCRA-NGO conundrumThe Asian Age, March 06, 2015A survey done by Institute of Rural Management, Anand in October 2012 showed that Foreign Contribution Regulation Act (FCRA) is an ineffective legislation as it controls only US$2bn, which is only about two per cent of the total foreign funds that come into the country. So why should the voluntary sector be singled out for money-laundering, the study asks. Better monitoring mechanisms are required rather than curbing.
- What sort of federalism do we want?The Hindu Business Line, March 05, 2015Ever since the Modi government assumed office, the chant of ‘cooperative federalism’ has grown louder. First, the Cabinet resolution on the creation of the National Institution for Transforming India (NITI) Aayog spelt it out and 40 days later the e-book on the new body reiterated the same. The sudden entry of competitive federalism in the government document seems like a crucial afterthought.
- Small industry needs a better policy dealThe Hindu Business Line, February 20, 2015If the Make in India campaign has to be successful and help many in our country, we need to focus on enabling small units to function and contribute. A major problem small and medium units face is that of finance. Banks and financial institutions are always very wary of assisting them in an optimal manner because of mistrust and the fear of bad debts. But if we see how big business houses are defaulting on their commitments, figures of which run into lakhs of crores, the losses arising out of defaults in the micro, small and medium enterprises (MSMEs) sector seem quite insignificant.
- Time for ‘seller beware’Asian Age, February 12, 2015The Budget must introduce a shift in the manner consumers are dealt with in the country. A change from the hitherto sectoral perspective to deal with consumer issues to a principles-based approach on issues of consumer saving, investment and expenditure is required.
- For that perfect blend of policiesThe Hindu Business Line, February 06, 2015The Prime Minister, Narendra Modi, will confer with an eminent group of economists on the possible agenda for the brand new National Institution for Transforming India Aayog (Niti) Aayog. On January 16, at a recent global business summit the Prime Minister said that development has to become a people’s movement. Indeed, this will be an imperative because trust has to be gained of the people at large, which can be reached by good and dispassionate civil society groups.
- How not to contain the fiscal deficit The Hindu Business Line, January 22, 2015India is in a precarious situation. More than eight months into the current fiscal, fiscal deficit is almost breaching the annual target; revenue receipts are not reaching even half the yearly target; and over ₹8 lakh crore are pending in direct tax recoveries. Future steps would demonstrate if the government has a long-term strategy in place for fiscal governance…Therefore, containing deficits is important. However, it must be noted that in doing so means are as important as ends. Use of unsuitable means, while providing short-term relief, compromises the ability of a country to develop a long-term fix.
- Niti Aayog: No quick fixThe Asian Age January 20, 2015As an institution, Niti Aayog will have to emerge as a credible lean knowledge body or a think tank. In doing so, it needs to be equipped to think through sound policy initiatives for the medium term and beyond to grow the pie. In order to do that, it must have the ability to envision future scenario and suggest corrective steps when required. Secondly, it must also revive the Independent Evaluation Office rather than depend upon an in-house body that has so far proved to be ineffective. In doing all this effectively, it will have to build up sustainable partnerships with the private sector, trade unions, media, think tanks and CSOs. In its second role, it needs to deliver directional and strategic recommendations to the governments on the developmental process. With no clarity on the fate of five-year and annual plans, it remains uncertain how Niti Aayog will achieve this.
- Addressing civic indiscipline in Jaipur needs education & enforcement DNA, January 12, 2015Jaipur continues to take baby steps to achieve its dream of becoming a world class city, but a change in our mindsets is a precursor to its realisation, which is not the government’s responsibility alone. Another act of civic indiscipline is defacement of our road signage. There is a law against defacement, which includes a liability of the poster owner, but enforcement is nil…In the ultimate analysis, it is we the citizens of this beautiful city who have to take up the cudgels of dealing with indiscipline through education and enforcement, and ask the authorities to cooperate.
- A $10 trillion economy by 2030?The Hindu Business line, January 09, 2015 A strong national market backed by clean procurement policies and realistic fiscal management can take us there. While the general mood in the country seems buoyant, the business sentiment is not quite in sync. The reasons are well known, but there is ardent hope for progress under Narendra Modi. We need to cross the Rubicon of 5 per cent-plus growth rate and aim for at least 6 per cent in the new financial year, with the goal of turning India into a US$10tn economy by 2030 in absolute terms.
- Too much adhocism in disinvestmentThe Hindu Business Line, December 19, 2014There is no long-term strategy or objective informing the exercise. This has led to misgivings in various quarters. Every other day, the government announces disinvestment in PSUs and State-owned banks, and some issues are put out in the market. But there does not appear to be any designed strategy to carry out the disinvestments.
- ‘Make in India’ Campaign is also necessaryAmar Ujala, November 14, 2014
- Future of Jan Dhan YojanaThe Asian Age, December 05, 2014Ever since bank nationalisation took place in 1969, many schemes aimed at financial inclusion have been launched. Most have flopped. There is a danger of the same thing happening with the Jan Dhan Yojana. The Jan Dhan Yojana should be looked as just one of the multiple approaches to achieve financial inclusion. Only a holistic framework inclusive of the Jan Dhan Yojana, financial education, specialised products, improved infrastructure can result in effective financial inclusion. But that requires political will, bureaucratic support and persistent persuasion by the regulator.
- Should we make in India or in Bharat?The Hindu Business Line, December 05, 2014The Make in India campaign seems to be focused on big industries in big cities. But it is time to see how micro, small and medium enterprises in rural India can be a force multiplier. Whenever anyone mentions the word ‘rural’, what springs to mind is farming. But more than 65 percent of rural labour is engaged in non-farm livelihood activities, or the Rural Non-Farm Economy (RNFE). The majority of rural labour is involuntarily engaged in low-skill, low-paid, tertiary-level jobs. Their lot can be improved if a synergy is created between Make in India and Make in Bharat.
- Growth is possible if bureaucracy delivers & works transparentlyDaily News Analysis, December 02, 2014…all good things will happen only when the bureaucracy delivers, transparently and is accountable. Many good ideas have suffered due to cynicism, corruption and chalta hai attitude and that will require the personal attention and commitment of the supremo, the chief minister.
- An ombudsman for investor grievancesThe Hindu Business Line, November 23, 2014Narendra Modi’s government has been successful to an extent in altering perceptions about the business climate in India. It started from a very low base, when policy paralysis ruled the environment. But it is yet to succeed in changing the mindset of the bureaucracy. The dream of a business-friendly India will become a reality only when businesses and investors have an impartial avenue to get their grouses settled swiftly. Ombudsmen at all levels will be pivotal in achieving this.
- Aviation sector must be a lot more competitiveThe Asian Age, November 13, 2014Lobbying in the aviation sector seems to be fading away with Air India deciding to pull out of Federation of Indian Airlines (FIA) despite being its founding member since 2006. According to news reports there were differences over the re-organisation of the aviation sector. FIA, so far, has been relying on domestic carriers such as Air India, Jet Airways, IndiGo, SpiceJet and GoAir to keep itself going, not yet extending its membership to the Malaysia-owned AirAsia. The industry, however, still requires some progressive steps from the government to ensure a level playing field. One such act could be review of present regulatory regime governing the aviation sector in India, in order to remove inbuilt loopholes which have impeded the process of infusion of competition in the sector, for long.
- Will India ever change?The Hindu Business Line, November 06, 2014In spite of improving on some parameters, India has slipped down two notches in ‘Ease of Doing Business’ from 140 to 142 out of 189 countries in the last World Bank 2014 rankings report. The slide in position is also due to the fact that other countries have improved considerably since 2013. This wake-up call has provoked the Government to respond that our rankings will improve next year as massive efforts are on to take us to the 50th position in the not so distant future. This is conflated with the ambitious programme of maximising ‘Make in India’.
- The administrative route to growthThe Hindu Business Line, October 26, 2014All secretaries to the Government of India should have received ‘outstanding’ grading over their last five annual appraisals, by and large, otherwise they won’t be eligible to claim the coveted title. As one babu quipped, if all of them are ‘outstanding’, why is their performance so average as evident from the poor results in many cases? Granted, truly excellent officers have to work with average colleagues and an archaic system, and cannot really work as lone rangers.
- A clean-up for Make in IndiaThe Hindu Business Line, October 10, 2014It’s time to sweep away the pervasive red tape that makes India one of the most difficult places in which to do business. The Clean India campaign can serve as an inspiration and a metaphor. After all, we also need to clean up the maze of regulations to enable a success of the Make in India campaign. Both need a blitzkrieg approach…As with the Clean India project, the Make in India project requires will, a national campaign and a huge change in mindset. This includes getting rid of fears surrounding the endeavour to industrialise, create jobs and entrepreneurs, and ameliorate poverty.
- For a political consensus on reformsThe Hindu Business Line, September 26, 2014A pact between major parties would end the prevailing climate of adhocism and policy uncertainty. Our polity is quixotic. One party proposes a reform when in government and then opposes it when in opposition. When in opposition, it flags an excuse that it does not agree with some provisions. The recent amendment Bill on expanding the foreigners’ stake from 26 per cent to 49 per cent in the insurance sector was opposed by the Congress party when brought forward by the National Democratic Alliance.
- Modi’s creative destruction at workThe Hindu Business Line, September 12, 2014When Prime Minister Narendra Modi announced the scrapping of the Planning Commission and establishing a new think tank, many were astounded. He was responding to calls by many that the plan body has outlived its utility in a market-driven economy, while it was relevant and useful in our early years. However, he recognised the need for a central think tank which would work closely with the Union Government and our states in pushing the reform and development agenda. Plainly, Modi is a political entrepreneur who has marketed himself brilliantly in the last general elections. He aspires to see India become a developed country and will not do it walking down a beaten path.
- Licence raj has been replaced by a resource rajHindustan times, August 28, 2014While Prime Minister Narendra Modi in his Independence Day speech inter alia highlighted petty corruption, it was RBI governor Raghuram Rajan who made a frontal attack on crony capitalism, i.e. big-bang corruption in another speech. Both cancers have to be attacked. Hopefully this phenomenon will subside if the government is as serious as it claims to be. What is crony capitalism? It happens when business colludes with the polity and bureaucracy to gain unfair advantages, like the 2G spectrum scam or the Coalgate affair when a handful of oligarchs got favours without any competition or proper procedures. Just these two scams cost the nation in excess of Rs. 300,000 crore, according to CAG estimates.
- Institutions vs organisations in the reform agendaBusiness Standard, August 22, 2014 Among several adrenaline-pumping measures, three points of Narendra Modi in his scintillating speech on Independence Day stood out. First, his ridicule of the siloed approach of different departments of the government. Second, rejuvenating the plan body by scrapping it and giving birth to a new body with active participation of the states. And third, to work in co-operation with the opposition parties to carry the reforms agenda forward. All three ideas need an institutional approach if they have to be realised in their true sense, and not just by establishing bodies to deal with them. Institutions must not be confused with organisations. Organisations are a part of an institutional framework for achieving its objectives.
- So, we’re getting better roads. Here are some stumbling blocksDNA, August 05, 2014Laws governing land acquisition, environmental clearances and the modalities of PPP will have to be looked into again to make this ambitious road project a success. It would make great sense if the state government drafts a comprehensive policy for roads, transport and road safety, and establishes one composite independent regulator to deal with all the three dimensions under one roof. Such a move will ensure coherence rather than face turf issues with different agencies governing the three different aspects of smoother and safer transportation to the citizens of the state. Such a regulator will be insulated from different line ministries and thus can be more effective.
- Ctrl + Alt + RefreshDNA, July 15, 2014Chief Minister Vasundhara Raje’s budget tries to answer questions surrounding the economy of state through her budget speech, including that of job creation. However, questions remain over how the government will achieve the target of creating 15 lakh jobs over the next five years or how the Public Private Partnerships (PPP) would be executed to the advantage of the end user. Indeed, job creation is a core agenda of any government in today’s dismal scenario, but not the only one
Appreciation Letter from Dainik Bhaskar
- Assurance to provide relief by curbing expenses and wastage of food itemsDainik Bhaskar, July 11, 2014In Hindi | In Gujarati
- Tough decisions have far reaching budget mindedAmar Ujala, July 06, 2014
- From Yojana Aayog to Vikas AayogThe Hindu Business Line, July 05, 2014The Plan panel needs to reinvent itself as a professionally run organisation providing inputs to states. The new government means business and many of our institutions will be restructured. Empowered states would mean that the Planning Commission in its present form will undergo an overhaul to enable every state to grow without depending upon the mercy of the Central government. However, shutting down the Plan body will be a case of throwing out the baby with the bathwater.
- Progressive Rajasthan: Reaching Rs10 lakh crore GSDP in 2018DNA, July 01, 2014When one former bureaucrat cannot get things moving, what will be the plight of the hoi polloi? If Narendra Modi can whip the bureaucracy across country to follow the Gujarat form of glasnost, our citizens will be happier and productive. Yesterday I wrote about the high level of bureaucratic responsiveness in Gujarat based upon our own empirical experiences and compared it with Madhya Pradesh. Our own findings have also been validated by reliable people living in Gujarat and MP, by anecdotes. If Madhya Pradesh is doing well in terms of growth, Gujarat is doing better by taking along its people. Is the same happening in Rajasthan? The short answer is no.
- Policy and structural reforms will curb inflationAmar Ujala, June 30, 2014
- Raj babus don’t measure up to Guj’s transparency levelsDNA, June 02, 2014When one former bureaucrat cannot get things moving, what will be the plight of the hoi polloi? If Narendra Modi can whip the bureaucracy across country to follow the Gujarat form of glasnost, our citizens will be happier and productive. Yesterday I wrote about the high level of bureaucratic responsiveness in Gujarat based upon our own empirical experiences and compared it with Madhya Pradesh. Our own findings have also been validated by reliable people living in Gujarat and MP, by anecdotes. If Madhya Pradesh is doing well in terms of growth, Gujarat is doing better by taking along its people. Is the same happening in Rajasthan? The short answer is no.
- Gujarat is forthcoming and transparent, MP is notDNA, June 01, 2014Guj babus are more open to sharing info; in MP it is just the opposite. While the officials in Gujarat readily shared information with us and also pointed out ways to deepen our research, officials in Bhopal with much ‘enthusiasm’ violated principles of logic and work ethics. As an election campaign issue, the Gujarat model of governance and development is being challenged that it is smoke and mirrors. One of the indicators of good governance is how bureaucrats interact with people when asked for information. Our own field experience on different dates and with different agencies suggests that unlike other states, Gujarat babus are more open and forthcoming.
- How not to contain the fiscal deficitThe Hindu Business Line, April 08, 2014The UPA has played around with numbers. This makes fiscal consolidation a daunting task for the new government The government has time and again shown its proficiency in accounting sleight of hand, when it comes to containing the fiscal deficit. It has painted a façade of a healthy fiscal situation, thereby hiding the structural cracks in budgetary and planning processes. Clearly, the next government will have a tough time in bringing down the deficit, a root cause for several of our problems. While presenting the interim budget 2014-15, the Finance Minister triumphantly declared that he would be able to contain fiscal deficit to 4.6 per cent of the GDP for the current fiscal, bettering the initial estimates of 4.8 per cent. This is being achieved through a massive reduction in the planned expenditure, of around 14 per cent.
- The road to true federalismBusiness Standard, April 02, 2014It is one of the happy incidents of the federal system that a single courageous state may, if its citizens choose, serve as a laboratory, and try novel social and economic experiments without risk to the rest of the country,” said Justice Louis D Brandeis, Associate Justice on the Supreme Court of the US, in 1932. This view forms the basis of the new federalism philosophy in the US that advocated restoration of some of the autonomy and powers to the states , which they lost to the federal government, as a consequence of the New Deal. A key determinant of the role of the states in a federal polity is their participation in the formulation and implementation of critical economic plans. A central plan body usually indicates a stronger role for the central government and vice versa. It is unable to handle the differences among the states in a clear manner.
- Let’s regulate the regulatorsThe Hindu Business Line, March 29, 2014Our regulatory architecture is a perfect mess. Line ministries design the law pertaining to the regulatory agency the way they please The Law Ministry, which needs to ensure coherence across similar laws, does not do so. Hence, the ambiguity over qualifications and period of the commission members; this varies from law to law. The terms of appointment vary from one sectoral regulator to another. Now, there’s a Bill that takes such issues head-on.
- Fiscal deficit target, a jokeThe Hindu Business Line, November 03, 2013The Finance Minister has repeatedly asserted that India’s current account deficit and fiscal deficit will be limited to US$70bn and 4.8 percent of the GDP, respectively, during the current fiscal. While the former seems plausible on the back of recent policy revisions, decline in imports and growth in exports, the latter seems difficult, especially seen in light of the government’s past performance. As 2013 and 2014 are election years, it would be nearly impossible for the government to comply with the deficit targets…Thus, it would be a challenge for the Finance Minister to keep his promise.
- We need a National SarpanchEconomic Times, September 25, 2013A recent poll among over 5,000 young people on who would make a good prime minister, more than half suggested a presidential form of government. Surely, this must have emanated from the sad experiences of horse trading in Parliament over policy debates, including whimsical partners walking out and walking in. This reinforces the point that the Westminster model of democracy is unsuitable for a stable government in India.
- Time to check the Khemka syndromeThe Hindu, June 05, 2013In April 2013, the Haryana government transferred senior IAS officer Ashok Khemka for the second time in six months (44th time in his 22-year career). The use of transfers and postings in States as a means of harassing officers who are inconvenient because of their professional independence or because they are perceived to be close to an outgoing chief minister is a well-known phenomenon. Articles 310 and 311 of the Constitution make it impossible for civil servants to be dismissed or demoted by elected representatives. However, politicians exert control over policy outcomes by reshuffling the bureaucracy across posts of varying importance. The “politicisation” of the bureaucracy has become a major public policy issue in India.
- APMC reform a mustFinancial Express, April 12, 2013The Agricultural Produce Market Committees (APMC) Act was designed with the lofty goal of protecting farmers from the vagaries of the market, but its purpose has been turned on its head to enrich traders (and politicians) and harm farmers and, in turn, consumers’ interests adversely. APMCs have been statutorily vested with the power to regulate both the creation of agricultural markets and also the entities that can participate in such markets. However, this range of exercise of powers by APMCs has resulted in collusive behaviour in the supply chain of agricultural marketing. The APMCs have, therefore, become bottlenecks as they regulate who the farmers sell to and who can participate in the market and even where markets can be established.
- Re-inforce people’s trust trust to restore growthEconomic Times, February 25, 2013A new leader, a growth panel, and judicial, electoral and governance reforms are the steps to restore people’s trust. Among a menu of discordant happenings and noises, one arm of the government says that we can expect five percent growth, while another says it is a mistake, and we can expect higher growth. Consequently, and also due to variety of other factors, people are losing their faith and confidence, and worse, do not trust the polity or the bureaucracy or business. The system needs an overhaul. Many of these steps need to be taken up by the government in a proactive fashion, and with the active involvement of states. Only then can we destroy the enemy, who is among us.
- A Regulator for Land AcquisitionEconomic Times, January 28, 2013The current land acquisition Bill talks about direct transaction between buyers and sellers of land. Given the fact that landholding patterns in India are largely fragmented, coupled with large-scale absentee landlordism, such direct transactions will be impossible as there will be huge transaction costs. The state has a legitimate role in land acquisition for industrial development and that should be done institutionally: as a facilitator through independent regulation against a control structure. The Bill on land acquisition should be revised accordingly to upfront say why states should have a role in it by incorporating provisions for the institution of an independent regulator for land acquisition.
- Taking India Forward in 2013Economic Times, December 31, 2012This month (December 2012) we saw some sanity revert in our law making process when law makers passed laws and pushed the reforms agenda. Thanks to the adroit handling of cantankerous issues and dissonance by the new Parliamentary Affairs Minister Kamal Nath. Whether, we agree with everything that the government has done well or not, we look forward to a resolute and smart government to take the growth agenda forward in 2013 as well…considering the nature of our fractious polity, the Central Government will need to become a true union government.
- Policies to allocate natural resources should be dynamic and transparentEconomic Times, November 26, 2012The Supreme Court is rightly peeved that the government did not auction the entire spectrum vacated as a consequence of the cancellation of the dirty licences in February, and so are the people of India. But even if the government had done so, the heroic recommendations on a high reserve price might have had the same result.
- Restore Trust for Economic GrowthThe Economic Times, October 29, 2012Industrial progress is not the only key to creating economic wealth, but there are several other flanking and fundamental areas that need to be reformed. These include, but are not limited to, governance and administrative reforms, and, most crucially, restoring trust of people in government. Only then the National Investment Board proposal will earn people’s confidence. Should the government also not set in motion a process that can identify and list reform and remedial measures and report to people periodically? The checklist could begin with crony capitalism, corruption in the polity and administrative reforms. Even if we take one step at a time, it can be done.
- Equity is Good for GrowthThe Economic Times, October 08, 2012Competition policy promotes economic equity and democracy, which is a building block for political democracy. While macro reforms have to be followed, micro reforms with effective meso-level institutions are as important to ensure that markets function well. In fact, the poor suffer more when markets do not function well. Businesses benefit from competition reform, so do the poor, as it leads to more equitable growth. The current buzzword for economic planning and management is ‘inclusive growth’.
- Cross the red tape RubiconEconomic Times, August 23, 2012The origin of the term ‘red tape’ lies in an old British Indian practice of tying all files with red tape while being carted on mules and donkeys from Delhi to the summer capital Shimla. This is perhaps an apocryphal story, nevertheless revealing. While the British left India, the system got much worse than the hardy animals that carried the files to the hills.
- States need to follow a non-partisan approach for better governanceThe Economic Times, July 30, 2012Not many know that the words ‘Central government’ does not exist in our Constitution, but we have ‘Union government’ and states. Our founding fathers had envisioned the idea of a true federal political structure. However, due to fears of fissiparous tendencies, which have been a part of India’s history, the practice has been that all our laws define the Federal government in New Delhi as the Central government and not Union government.
- A policy coherence unit can resolve turf wars among ministries, helping businessesThe Economic Times, July 19, 2012Policy incoherence in our governance system is serious. It is spurred by turf claims, some of which are simply irrational. In the exercise of reforming business regulations, another major effort by the Planning Commission is to ensure policy coherence mechanisms so that all the horses drawing a coach, even when blinkered, can trot in unison. Even if we have very good policies, they exist in silos – developed and administered by different branches. Or sometimes, a very good policy is rejected by some branch because it would curtail its own discretionary and rent-seeking powers.
- Action for India’s RenewalThe Economic Times, June 25, 2012The world is in turmoil and so is India, but for different reasons. The common denominator is that bad governance everywhere is the main reason for the apocalypse. In India, we have an elected government, but rudderless, and an Opposition that is suffering from sclerosis. There is severe polity paralysis and policy stasis, sprinkled with a dose of profligacy. While many politicians are busy in making money in partnership with civil servants and businessmen, most of our people are suffering from the adversity. Not all politicians or civil servants or businessmen are crooked, so it would be unfair to use a paintbrush. It is time for every citizen to be counted in the peaceful campaign to tackle corruption and kickstart stalled policy.
- Improving Investment SentimentEconomic Times, May 28, 2012When Coca Cola, among other foreign consumer goods manufacturers, was allowed to return to India in 1990s, it was not because we needed Coke, but to send the right signal to the world that we were interested in doing business with the whole world. Other than promoting healthy competition, our domestic capital availability was limited. We need foreign investment to meet our growing needs, for example, in the infrastructure sector. We would need over a trillion-dollar capital in the near future to sustain our growth. The problem is that many cannot see the big picture, or myopically pursue their self-interests
- The Regulatory ChakravyuhEconomic Times, April 30, 2012The Planning Commission is seriously addressing problems. In order to weed out or rationalise useless regulations, the plan body’s strategy also speaks about undertaking scientific regulatory impact assessments. The catch is that states will need to be involved in this exercise closely, as much of the regulatory chakravyuh exists locally. A consensus can evolve through a dialogue and the plan body will have to market it to states, like a skin fairness cream, to demonstrate to them that revenues will rise and new jobs created.
- Wanted: A National SarpanchThe Economic Times, April 19, 2012India has accepted the Westminster model of parliamentary democracy, which is now proving to be an unworkable method of running a government smoothly. Now is the opportune time to kick off a debate for changing over from a Westminster model to a presidential system. Electing a national sarpanch to get rid of the cantankerous and retrogressive coalition political system. Our children will never forgive us if we do not start the process now, knowing that it will still take a few years to bring about the change.
- Bad Politics Means Bad EconomicsThe Economic Times, March 26, 2012Sacking the then-railway minister Dinesh Trivedi after he presented a reformist rail budget is one of the darkest chapters in our recent chaotic economic history. One can understand the compulsions of coalition politics…This idea was not radical because fares had not been raised over the last decade. After all, bad politics leads to bad economic outcomes, which the country can ill-afford in the current situation of an alarming fiscal deficit, obstinate inflation and unusual policy paralysis
- APMC reform a mustFinancial Express, April 12, 2013The Agricultural Produce Market Committees (APMC) Act was designed with the lofty goal of protecting farmers from the vagaries of the market, but its purpose has been turned on its head to enrich traders (and politicians) and harm farmers and, in turn, consumers’ interests adversely. APMCs have been statutorily vested with the power to regulate both the creation of agricultural markets and also the entities that can participate in such markets. However, this range of exercise of powers by APMCs has resulted in collusive behaviour in the supply chain of agricultural marketing. The APMCs have, therefore, become bottlenecks as they regulate who the farmers sell to and who can participate in the market and even where markets can be established.
- Catch the Signal of ChangeEconomic Times, February 27, 2012Is India a banana republic or a dirigisme economy? Neither. Firstly, we are not a small country with a single export item, and we are neither a state-controlled economy. However, there is a preponderance of both elements in our governance system. In a colloquial sense, we are no better than a banana republic, where public interest is given the short shrift and crony capitalism rules. The state does control a large part of our economy, particularly natural resources, and has failed in allocating them in a fair manner to the best possible bidder, whether it is minerals or oil or spectrum. And private interest overrides public interest, coupled with unjust enrichment of the polity, babus and businesses
- Overhauling Our Steel FrameEconomic Times, January 30, 2012In one of our seminars on regulatory issues, a gentleman suggested that we should have a regulator of retail corruption who would set standards of ‘fees’ and timelines to deliver what the system should have done ab initio. He was of course referring to simple issues like ration cards which cause a public pain. Some laughed but I think there was merit in the suggestion because corruption will not disappear, whether we have empowered Lokpal or Lokayuktas in our States. It is like a man eating tiger, who having tasted the human blood, will not stop at doing so even if it is faced with the threat of being eliminated. Many of our babus are like man eating tigers, and not even afraid of being eliminated. The way forward is to tackle the causes of the corruption so that the menace is curbed
- Set Regulators FreeEconomic Times, December 26, 2011The demand to house the Central Bureau of Investigation (CBI) under the proposed constitutional authority of the Lokpal is indeed sensible in more ways than one. This will ensure its independence. Though the CBI is a credible institution, it often comes under the influence of the government to move, or not, on sensitive cases involving politicians. On the other hand, it is fortunate that the Lokpal will be a constitutional authority, otherwise the body would have also met the fate of several of our institutions that get suffocated under executive fiat. Hopefully, the debate should spur a larger discourse on ensuring independence of our regulatory institutions for better governance and growth
- Why We Need New InstitutionsEconomic Times, December 01, 2011We have a genuine dislike of creating new institutions for various reasons. But as part of the creative destruction process, should we not address ourselves to shutting down useless organisations and creating new ones or strengthening existing ones where there is a critical need and a governance gap? This is not the first time that these questions have been raised, but if we want to grow, create jobs and posit India as a global power in the new century, we do need to address the issues squarely, and now.
- Implementation of policies more important than drafting lawsEconomic Times, October 31, 2011The debate on corruption triggered by the Anna Hazare movement, the apex court and the country’s auditor and vacuous political noises, along with silent demonstrations by citizens, has set in motion a process of addressing the morass in our country. The debate and unravelling of scams itself has downsides of policy paralysis, investor scepticism and general insouciance, which we can ill-afford. Therefore, catharsis must begin from confession
- Public Procurement WoesEconomic Times, September 26, 2011The railways minister, Dinesh Trivedi, has recently announced two high-level committees to look at safety and modernisation. Both of them are closely linked to each other. But what is perhaps missing is the fact that procurement distortions may just end up thwarting any progress or quality in either the safety systems or even the modernisation of railways. Why are so many accidents taking place in the railways? Because of poor quality of equipment coupled with negligence. Why are so many tracks poorly built? Because of poor quality coupled with carelessness. Corruption is a common denominator.
- Arresting the pandemic of corruptionEconomic Times, August 29, 2011Corruption has now become a part of our DNA and is now a pandemic. The Lokpal Bills will now be debated before the Parliamentary Standing Committee on Law and Justice. A refreshing and welcome change is that their proceedings will be public…With the movement now on the Lokpal Bill that has already had a salutary impact on our economy and the governance system, we need to start a similar movement at the level of the states and our districts. Only then can we hope to arrest the pandemic of corruption.
- Optimal regulation to push industry growthThe Economic Times, June 27, 2011One of the biggest challenges that we in India face is creation of jobs, and reduction of poverty and inequality. One priority is to facilitate business as an engine of growth in a way that it is sustainable and inclusive. Facilitating private sector to contribute significantly to such a model of growth would be critical – and can be done by reviewing the role played by the government
- We’re part of participatory democracyThe Economic Times, April 25, 2011Much has been written about the successful campaign by Anna Hazare in raising the ante on corruption and getting the government to agree on the participation of the civil society in drafting the Lokpal Bill. Cynics and sceptics questioned the process on various grounds, including defining civil society advocates as self-appointed guardians of public interest and so on.
- Liberate the voluntary sectorThe Economic Times, July 26, 2010One of the areas that has not been highlighted in the current debate on the proposed direct taxes code (DTC) is its treatment of the voluntary sector. Such lack of attention is not warranted, given that the draft code contains a proposal to tax the surpluses of this sector. This has caused consternation in non-government circles. Such uniform taxation of all non-governmental organisations, hitherto treated as tax-exempt charities, is unjustified. A more discerning approach is advisable. The government needs to recognise the largeness and diversity of this sector in evolving a more nuanced approach to taxation.