P Chidambaram
P Chidambaram is former Finance minister of India.
Articles By P Chidambaram
Across the aisle: Taking stock at beginning of year
Four months from today, a new government will be in office (according to the people’s verdict). Nothing that the present government will do between now and April 30 will alter the state of the economy radically.
Across the aisle: Nearly all Indians are poor
Is it the intention of the government to vastly expand the government at all levels. The government’s bluff will be called if another slice of the cake will be reserved even while the size of the cake remained the same
Across the aisle: It is ‘Fail’ on the report card
As I write this essay on Friday, the buzz is that among the measures under contemplation are interest-free crop loans and a cash transfer to small and medium farmers. Even if the government directs public sector banks to provide the money for crop loans, how will it find the money for cash transfers? The fiscal deficit at the end of November 2018 was 115 per cent of the target
Across the aisle: The year ends on a sombre note
Democracy will survive in India only if we restore the balance.
Across the Aisle: Rafale verdict and the unavoidable option
In case of Manohar Lal Sharma vs Narendra Damodardas Modi and other cases (Rafale deal cases) the judgment of the Supreme Court pronounced on December 14, 2018, will be remembered more for the questions that the Court did not decide than for the questions that were decided.
A hundred-day journey
They can live with poverty and betrayed promises of development, but they cannot live in a situation of perpetual conflict.
Across the Aisle: Will constitutional values survive elections?
The results of the elections will be conclusive for the people of the five states but will be inconclusive for the rest of the country.
Across The Aisle: The familiar sound of the drums
It is the market that first called out the Prime Minister and his government. Markets do not like crude disruptions such as demonetisation. Apart from the enormous pain and suffering that it imposed on millions of people and businesses, demonetisation caused grave uncertainty, and markets dislike uncertainty and unpredictability in government’s policy actions.
Across the aisle: Another institution is falling
I am in favour of some tension between the government and the Governor. However, I strongly disapprove of government-appointed directors deciding issues that fall within the jurisdiction of the central bank/Governor.
Across the Aisle: The day of reckoning
The sensible course for the government and the RBI is to put aside the issue of reserves and focus on the immediate concerns.
Across the Aisle: Those who are left behind
As long as Sardar Patel lived, he did not forgive the fanatics who killed Mahatma Gandhi (as Home Minister he had banned the RSS for 17 months), but both the RSS and the BJP have found it expedient to forget that chapter of history.
Across the Aisle: Power lies in non-use
The government’s initial concern was only about interest rates but, on that issue, Dr Urjit Patel was on a strong wicket — he had the support of the Monetary Policy Committee. Soon, the government realised that interest rate was not the only ‘hurdle to growth’; other fault lines had emerged
Across the Aisle: Things fall apart; the Centre cannot hold
There is an old saying ‘Misfortunes don’t come singly’. It seems that the gods are not smiling on the Indian economy.
We have failed our children
While ‘Right to Education’ vastly expanded enrolment of children, not enough attention was paid to the quality of the schools, the teachers and the instruction.
Across the aisle: In J&K, the road to disaster
J&K is polarised as never before. Jammu is at odds with the Kashmir Valley, Leh leans towards Jammu and Kargil leans towards the Valley, but both Leh and Kargil also assert their identities.
Across the aisle: She wanted reasons, here are 10
Was the Defence Minister telling the truth when she said that she was not aware if Dassault had chosen a private sector company as the offset partner?
Across the Aisle: Good Aadhaar, Bad Aadhaar
The NDA tried to sell the false notion that if a person could not identify himself the person would not have an identity.
Five steps to Nirvana
External events are impacting the Indian economy. The government is unwilling to alter or calibrate its positions on the projected growth rate, government expenditure, NPA resolution, and tax enforcement. The government seems to believe that it can tide over the crisis by further muddying the muddied waters!
A big ask in election year
The consequence is that the government revenue has become oil-dependent, government is loath to give up easy revenues, and there is mounting anger among the people as prices of petrol, diesel and LPG soar every day.
Across the Aisle: Black to white magic
RBI had done no study or preparatory work; yet the Central Board of RBI hurriedly met on November 8, without an agenda and without a background note, and dutifully “recommended” that the notes may be declared no longer legal tender.
