The killing of two innocent fishermen by the Italian mariners in the fringes of Indian territorial waters is a grave situation. It is clear that the mariners have not tried to check whether the people on the boat were fishermen or pirates. At the time of shooting, nine out of the eleven fishermen were sleeping and it is reported that the Italian mariners were addicted to liquor and were not in a capacity to follow the required procedures before commencing an action. The incident itself is a setback to the efforts to eliminate the Somalian pirates from the Indian seas. The incident shows tha
Economic data from the two fastest growing economies –China and India during the last week is not good for the crisis ridden world economy. In India, the monthly industrial production for December 2011 shows a declining growth trend. On the other, the Chinese trade data for January 2012 has shown both export and import contraction. India’s factory output growth rate of meager 1.8% for December is uncharacteristic to the status of an emerging economy. The figure is more disappointing given that India is a domestic demand driven economy. Domestic production trends rather than trade figures are more important in driving growth rate in the Indian economy. Hence, a low fac
The ongoing economic sanctions by the US and the EU on Iran may not succeed without the support of Asian powers- China and India. Developments during the last two months indicate that both India and China are reluctant to follow the US sanctions. On the other side, ever since the beginning of US sanctions, Iran is trying to retain its trade engagement with both countries. Iran’s economic weight is significant in Asia as a major supplier of crude oil. For China and India, energy security is necessary to support their present high growth phase. India meets nearly two thirds of its cru
During the last week, politicians and media in both Britain and India were exchanging unpleasant comments over the 280 million pound British aid to India. Political parties in Britain were pressing the Conservative government to stop aid to the rising economic power. In India, ruling MPs and opposition leaders requested the government to reject the aid. In Britain, media and policy makers have quesioned the logic of providing loans to the fastest growing economy, at a time when British economy is facing fund scarcity. The British government, to put
One can easily observe that the economic weight of Asia is rapidly increasing. Of the six largest economies of the world, three are in Asia, and of these two, China and India, are the fastest growing economies of the world. During the last few years, the world economy has been moving forward driven by the growth rate of these two most populous emerging markets. Performance in terms of growth rate, GDP size, trade share, industrializati
The Vodafone case was a global test for India’s legal and tax system. Perhaps, in one of the most important verdicts in Indian corporate history, the Supreme Court has made it clear that the tax department has no right to levy tax on share sale carried out by two overseas entities, even if the underlying assets are in India. The verdict has cancelled the tax departments claim of around Rs 11500 crore tax on the deal. Despite the revenue loss for the national exchequer, positives are extracted by analysts out of the verdict. The verdict has given clarity on taxation issues
Dictionary on Indian Economy
- Logic of withdrawing Rs 1000 and Rs 500 notes
- Why the GST reform is transformational?
- Raghuram Rajan: The Gladiator returns to Chicago
- Good intention but poor thinking - what troubles demonetization?
- India Black Money Report: CBI underestimates black money at Rs 25 lakh crore
- High interest rate rather than inflation is the macroeconomic problem for India right now
- Japan’s first trade deficit in 30 years is part of the Global Shift
- Arvind Subramanian rocks with 'Chakravyuha' in Economic Survey
- Why we need an emergency monetization plan as well?
- NREGS: give respect to the tax payer’s money