P Chidambaram is former Finance minister of India.
Every economist is agreed that India’s economic growth has slowed down. The Chief Economic Adviser has candidly admitted the fact, only his government is in denial! If a government is in denial about the slowdown, it is fair to conclude that it is also clueless about the causes of the slowdown.
Justice K S Puttaswamy has enlarged and enriched the freedom that we won in 1947. Today, we will celebrate. Tomorrow, there will be other challenges and those too we shall overcome
Since demonetisation, quarterly growth (and hence annual growth) has settled at between 6 and 7%. The CSO numbers for Q1 of 2017-18 are worse: GDP 5.7%, GVA 5.6% and manufacturing GDP 1.2%. Is that not a catastrophic blow to the economy?
How and why the caste system has survived through the centuries is a puzzle. Why did the Kshatriyas and Vaishyas, who had power and money, accept the Brahmin as their superior? Why was the guru invariably a Brahmin?
The RBI’s monetary policy statement has confirmed many of the conclusions. According to the RBI, business sentiment reflects expectations of moderation of activity in Q2 of 2017-18 (read slower growth).
It is time to do a health-check of the economy as free India completes 70 years.
In the post-truth world, more and more people are believing what is not necessarily true. They believe that ideology is dead. The only ‘thing’ you have to believe in is ‘What’s in it for me?’ asks P Chidambaram
I believe the Government of India when it said: “India has conveyed to the Chinese government that such construction would represent a significant change of status quo with serious security implications for India.” However, that is not enough. The government owes a duty to the people to explain what has changed and why. Such a statement can come only from the PM
Wherever I go, I hear that education loans have dried up. The average growth rate in the last years is just 5.3 per cent. When a programme winds down, the worst affected will be the poor who do not have any influence or connections.
Just as the militants have taken a maximalist position that has to be rejected out of hand, the Central government has taken a maximalist position that has aggravated the problem. The people of the Kashmir Valley are caught between the two maximalist positions.
The popular belief is that the BJP is pulling the strings that hold the four factions (of the AIADMK). It could be part of the BJP’s political strategy to carve out a space for itself in Tamil Nadu politics.
The worst tendencies of the Indian State and politics and business have found their way into the design of the GST that was launched yesterday. Many of the flaws in the design were the result of forced political compromise, writes P Chidambaram
We are inheritors of a sound economy, on the verge of higher growth, and we have to live up to the high standard of a few years ago. We cannot encourage high tax rates or high handed tax administration, for no nation can have a vibrant economy whose tax laws and tax administration are narrow in thought or application.
The governments cannot be blamed for the occurrence of drought, but governments are solely responsible for the mismanagement of the consequences of drought.
PM Modi was therefore absolutely right when he stated that his government’s goal was to give the highest priority to ‘Make in India’ and called upon the world’s manufacturing companies to “Come and make in India”.
I have been making the arguments for weeks — that the government has totally failed to address the issues of declining investment as a proportion of GDP; sluggish credit growth; and non-creation of new jobs. These trends were visible in early- and mid-2016.
Mr Narendra Modi has a burning desire for greatness, but his government does not have big reform ideas, writes P Chidambaram.
Achhe din is about security — national security, internal security, physical security of the individual, food security, job security and so on.
Secularism is derided. Liberalism is challenged. Dissent is sedition. Questioning the government (or the Army Chief or the RBI governor) is anti-national.
To peddle the counter-narrative, the drum-beating has started, aided and abetted by sections of the media that want a spectacular blow-up either in the Kashmir Valley or in Pakistan.
After conveying the recommendations of the Parliamentary Committee, the correct thing for the government to do is to do nothing.
The Yashwant Sinha-led committee slammed almost every aspect of Aadhaar and the Bill to establish the UIDAI.
The writing on the wall is clear. The alienation of the people of the Kashmir Valley is nearly complete. We are on the brink of losing Kashmir.
We need to get our priorities right. We need to hear less talk and see more action on investments, credit and jobs.
Dozens of officers, including officers of the Ministry of Law, spend more than a hundred hours to draft the Finance Bill.
Successive governments — especially state governments — have miserably failed to look after the children of India.
The unwritten rule on government formation in a hung legislature — supported by precedent — is quite clear. The party that secured the highest number of seats would be invited first to form the government.
After slipping badly in Bihar, Modi has regained his prime position as a master of communication.
While the GVA/GDP data may have sprung a surprise, many other indicators point to an economy that is not investing more, not producing more and not creating more jobs
Jawaharlal Nehru University faces an existential threat because its founding ideas are the diametric opposite of the founding ideas of the RSS-BJP dispensation.
Now, after Jayalalithaa’s death, the AIADMK is poised to undergo another self-destructing transformation.
The government should have adopted an expansionary strategy coupled with bold and broad reforms.
Budget 2017-18 will be remembered not for any bold measure but because it did not do great damage to the economy.
"I think the government, having shot itself in the foot by demonetisation, should quietly accept that growth in 2017-18 and 2018-19 will be between 6 and 7 per cent," says former finance minister P Chidambaram.
The Chief Economic Adviser has promised a detailed analysis of the subject in the Economic Survey that will be presented to Parliament on the eve of the Budget. However, there is no word yet from the government.
The only engine that appeared to be running was government expenditure. In this scenario, what can be expected regarding the growth rate in 2016-17?