India should convert the Trump threat to an India opportunity, re-embracing a more liberal trade regime as a way of reviving manufacturing output and exports.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
'I think my first obsessive, possessive and only half-requited -- as we would joke -- 'love' was Ivan. I saw him first slouching down the corridor of St Stephen's College nearly 50 years ago and was instantly smitten (as was everyone else around him).'
Since 2012, 44 Indians have been anointed as grandmasters -- the highest achievement in chess, points out Arvind Subramanian, economist and former chief economic adviser to the government.
This is a moment when the leaders at the Centre and states must show true leadership for the sake of the country. And it is the top political leaders, not attorney generals or bureaucrats, who should be sitting together and settling this thorny issue of compensation, says Arvind Subramanian, former Chief Economic Adviser to the Government of India.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
Telangana's Rythu Bandhu policy is an embryonic UBI, or rather embryonic QUBI (a quasi-universal basic income, pronounced Kyoo-Bee). And it could potentially also be the future of agricultural policy in India, says Arvind Subramanian.
'We are truly blessed to bear witness to the divine talents of, and scarcely human displays put on by, Roger Federer and his bromance buddy, rival, nemesis and plausible co-claimant to GOAT ('greatest of all time') status, Rafael Nadal,' says Arvind Subramanian, who steps down as chief economic adviser to the Government of India in September.
The GST has been a great achievement, but it does suffer from weaknesses, says Chief Economic Adviser Arvind Subramanian.
the RBI will need to fulfil its April 4 pledge to avoid liquidity shortages.
In part four of a series, Arbind Modi & Arvind Subramanian explain how scrapping the exemptions for the countervailing duty will eliminate the negative protection facing Indian manufacturers
Indian Railways has to up investment to strengthen network just like China and Russia.
India will have to devise policies to ensure overall growth in FY16.
India's credit and banking are neither too big nor too small.
The Budget would preserve macro-economic stability.
India is threatening to block the World Trade Organization (WTO)'s trade facilitation agreement (TFA) reached at Bali last year unless its agricultural policies are permanently excluded from multilateral scrutiny.
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And with prices low, the equilibrium real exchange rate will also be low, that is to say depreciated.
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
One may fault this government for incompetence, corruption, and delayed action but it cannot be faulted for lacking a vision.
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