I wonder how the above American individual income tax-brackets compare with those of what we currently have in India on a like-to-like basis without complicating them too much with notions of Fx rate, inflation differentials and per-capita GDP. The interesting point to note however to note from the above Infograph is the inflation adjustments beingContinue reading “My suggestion to FM Nirmala Sitharaman-ji for her 2026 Budget “Sixer” : Inflation-indexed tax-bracket for individuals”
Category Archives: india economics
India and the “sick men of Europe”
https://www.ft.com/content/24d5d526-b970-4e53-a262-9a678319ce23?fbclid=IwZXh0bgNhZW0CMTEAAR1f4iYveiDk2f4y0qUqx2zLN3Y-ifaZmkJ3b_AyasslcsoRyVKdlAcawbM_aem_cfO_7bAc56d_I9pBHi1jPg Reading the FT London article reminded me about how once upon a time, in the 1980-90s Turkey and then more recently in 2009-12, Greece too, were both regarded as the “sick man of Europe”. Today Europe or the EU appears to well qualify for that epithet of UN-eminence : “sick man of the world”.Continue reading “India and the “sick men of Europe””
India’s Democracy is prosthetic not orthopaedic … Why ?
Winston Churchill, WW-II British Prime Minister, made this famous pronouncement on government and democracy : ‘Many forms of Government have been tried, and will be tried in this world of sin and woe. No one pretends that democracy is perfect or all-wise. Indeed it has been said that democracy is the worst form of GovernmentContinue reading “India’s Democracy is prosthetic not orthopaedic … Why ?”
It’s about time India learns to look at Democracy as scarce political resource, not so much as governance mechanics
https://www-ft-com.ezphost.dur.ac.uk/content/7ebec65b-79fb-4366-8d55-bc817c8606ac Martin Wolf, a well-respected economist’s Address to the conference in New Delhi at the National Council of Applied Economic Research and the Consumer Unity and Trust Society was reproduced in its pages as an Op-Ed piece by the UK Financial Times (click on link above). He predicted India would face severe challenges and grave obstacles in the pathContinue reading “It’s about time India learns to look at Democracy as scarce political resource, not so much as governance mechanics”
THE HINDU grants generous editorial space to “Princeton Professor. Mody” to make Tom Thumb seem like Godzilla!
I am not convinced this Editorial published in today’s The Hindu is any great macro-economic insight. It is however very timely of course. It is a stern reminder to the banking sector of course on prudent lending norms and practices. More importantly, it is a a timely and cautionary warning to households and families (lowerContinue reading “THE HINDU grants generous editorial space to “Princeton Professor. Mody” to make Tom Thumb seem like Godzilla!”
Why India transferred its Gold reserves kept in UK Central Bank vaults since 1991 back to its domestic vaults?
To think of a possible and simple explanation for the question, you have to first quickly read this article of the famous American economist, Paul Krugman: https://finance.yahoo.com/news/remember-u-doesn-t-pay-204354371.htmlhttps://finance.yahoo.com/news/remember-u-doesn-t-pay-204354371.html ….. “Most historical examples of debt crises took place in countries that borrowed in another country’s currency”… says Paul Krugman. What a diabolically ingenious way indeed to defendContinue reading “Why India transferred its Gold reserves kept in UK Central Bank vaults since 1991 back to its domestic vaults?”
After “rajasuya” and “vajapeya yagnya” in this decade, will India witness “Ashwamedha yagnya” also in the next ?
https://indianexpress.com/article/opinion/columns/india-superpower-gdp-growth-9316934/lite/ Bibek Debroy, the economist who has served in India’s apex economic think-tank Niti Aayog, may not get nominated for the Nobel Prize in economics, but “the way he weaves economic facts with our Puranas and Niti Shastras makes very interesting reading”, said a friend of mine with whom I had shared the above articleContinue reading “After “rajasuya” and “vajapeya yagnya” in this decade, will India witness “Ashwamedha yagnya” also in the next ?”
Indian Taxation: a War of Attrition between David and Goliath since the era of Nicolas Kaldar to Thomas Piketty’s
My very respected and learned email friend (Former) Justice Sri T.N.C Rangarajan, ( https://tshc.gov.in/retjudges/tncrj.htmlhttps://tshc.gov.in/retjudges/tncrj.html ) distinguished expert on Indian Taxation Laws and I only yesterday were corresponding with each other on the ongoing national debate triggered by one of the most controversial promises made in the 2024 election manifesto of the Congress Party — “incomeContinue reading “Indian Taxation: a War of Attrition between David and Goliath since the era of Nicolas Kaldar to Thomas Piketty’s”
To hell with population-size based Delimitation of electoral constituencies in India!
The Infograph above is an eye-opener for me. What is so striking to me about it is that Maharashtra’s number exceeds the numbers of TN + Gujarat combined and, yes, TN+ Karnataka too combined ! Also , the number for Greater Andhra (pre-partitioning) exceeds the number for Uttar Pradesh. But what this info-graph does toContinue reading “To hell with population-size based Delimitation of electoral constituencies in India!”
THE HINDU RATE OF GROWTH
https://www.thehindu.com/business/Economy/india-is-dangerously-close-to-hindu-rate-of-growth-says-raghuram-rajan/article66583585.ece The Hindu 5 Mar 2023 It always made me wonder why the phrase “Hindu Rate of Growth” doesn’t hurt the sensibilities of the Hindu majority of India … What is Raghuram Rajan suggesting really? Is India’s GDP created only by the Hindus? Do the other religious groups contribute less or more ? Why doContinue reading “THE HINDU RATE OF GROWTH”