The economic recovery around the world has been uneven. India has managed to avoid the inflationary surge that many rich countries are battling as well as the balance-of-payments crises that have brought many of our neighbours to their knees.
Considering that Mumbai and Bangalore are among Asia’s richest municipalities and have annual budgets larger than those of several Indian states, the situation raises important questions about electoral politics and local governments.
The heatwave that rippled across India earlier this month had not just left us sweltering, but also sparked fears that the winter crop could wilt because of rising temperatures.
Saurabh Modi reviews the book ‘Land is a Big Deal: Why rent is too high, wages too low, and what we can do about it,’ and its proposal to levy a land value tax to make housing more affordable
It had an interesting headline ‘The Return of the Policy That Shall Not Be Named: The Principles of Industrial Policy’. There is now growing evidence that Lord Voldemort is back.
The sticker shock in January may well be a temporary blip because of higher cereal prices, or it could be a lesson in the fact that disinflation is rarely a neatly linear process. There will be reversals.
First, the interest costs of servicing this public debt leave the government with less money to spend on essential items such as infrastructure, the green transition, welfare programmes, defence and social security.