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Guest Columnists



April 30, 2004



Is Bharat wilting?
Employment growth in rural areas has slowed to 1.3 per cent per annum over 1993-94 to 1999-2000, compared to 1.8 per cent over 1983 to 1993-94.

An agenda for the new government
The focus should be on energy and infrastructure




April 29, 2004



Is Rs 100,000 crore possible?
Chest-beating claims by the government like raising Rs 100,000 crore from the capital market in one year is big talk that can have negative effects, says S K Mitra.

Reading between the lines
The recent Supreme Court judgement on the ICICI Bank-Mardia Chemicals case has queered the pitch for the recovery of bad loans.

Profiting from wages
While corporate profits are soaring, growth in labour compensation has been exceptionally sluggish.




April 28, 2004



EU's new economic geography
It is imperative for Indian companies to reposition themselves now in view of the significant changes that will take place in the medium term.

Kolkata leaves Calcutta behind
The more things remain the same, the more they change




April 27, 2004



Politics and the stock market
Investors at this stage need to realise that a stable political situation at the Centre is always beneficial for them.

Growth prospects: a reality check
Then there are growth inhibitors of rising public debt, weakening governance, AIDS…




April 26, 2004



American influences
Monetary policy is as much about preparedness as implementation




April 24, 2004



The secret of Vajpayee's success
When you reach a position when you can out-manoeuvre without being seen to be manoeuvering, for you three election wins seem a natural thing to achieve, says T N Ninan.

What's wrong with the young blood?
'Why don't we see more of honest, dedicated professionals in Parliament? Why are there not enough fresh faces, young blood to energise jaded ideas?' asks Sunil Sethi.

Why not exit polls on exit polls?
Advertising on polls should be limited to public awareness campaigns, says T C A Srinivasa-Raghavan.




April 23, 2004



The case for a BJP-Congress coalition
Two US economists have devised a mathematical model that fits India perfectly, says T C A Srinivasa-Raghavan.

Short-changing small savers
Banks of today are aping the West and preferring large but infrequent transactions, while the poor need exactly the opposite: frequent but small transactions, says Keya Sarkar.

Forget cost cuts, improve income
No layoffs please, and forget cost cuts. That's the first thing Ravi Gilani, managing consultant of Goldratt India, a business consulting firm, tells his clients.




April 22, 2004



Why deficit finance works
The intellectual argument against fiscal deficits is unconvincing, says Sudhir Mulji.

And the dollars keep pouring in...
The more permanent way of killing arbitrage is making the rupee fully convertible, says Tamal Bandyopadhyay.




April 21, 2004



India experiencing artificial boom
This is the result of what is commonly known in economic parlance as the Political Business Cycle Theory, says Kaushik Das.

Even the 'City of Joy' is shining
Kolkata is filled with a new self-confidence and raring to go, says Subir Roy.

Limits to outsourcing?
Instead of worrying about anti-BPO noises in the US, India must focus on becoming a good source of educated workers, says Ila Patnaik.




April 20, 2004



Are two HLLs better than one?
What is one to make of the reorganisation of Hindustan Lever last week -- the one which left the company with two chairmen, two businesses and two difficult choices for the future, asks R Jagannathan.

India shining, Bharat wilting?
The Indian economy is likely to have a sustained growth for some time to come, says Kirit S Parikh.




April 19, 2004



BPO: Bureaucracy bigger threat than US backlash
A recent paper co-authored by Nobel Laureate Lawrence Klein argues that offshoring of IT work actually adds to the jobs in the United States.

Indira shining!
While HRD minister Murli Manohar Joshi continues to get flak for, among other things, the rewriting of history, there's a whole lot of people taking another look at India's economic history, and concluding that India's big break came in 1980-81.

China's moral crisis
Morality is put to the test in a society in transition but prosperity is the answer, says Matei Mihalca.

When Feel Good becomes Deep Wounds
India is shining; however, the low interest rate regime coupled with a relatively high rate of inflation remains a question mark.




April 17, 2004



Boom in premium products
By the end of 2004, there could already be 1 million such households in India accounting for perhaps as much as 7-8 per cent of the GDP.

IIMs: When under fire. . .
The pattern of responses to the IIM fee cut issue has some interesting features. Some of the leading lights of industry have chosen to bend in the face of an intransigent HRD ministry.

Can Japan-China-India axis be a reality
Internationally, this is an attempt to counter-balance America's global hegemony.

Urgently needed: Value-added education
The focus of tertiary education should move to professional degrees, says Prakash Hebalkar.




April 15, 2004



Oil: Stronger for longer?
For some time to come, oil prices will be higher and more volatile, says A P.

Open the closed policy
Historically all severe economic downturns have been associated with financial instability but in India the two have never operated in tandem earlier. Before that happens, which it will, there has to be effective policy instruments in place.

Of window-dressing and 'ever-greening'
The most popular method of ever-greening is possibly restructuring of loans.




April 14, 2004



It's time to legalise gambling
Legalised gambling could be a money-spinner for states.

Is Jaswant better than Manmohan?
Despite Jaswant's stellar performance in taking the economy to a higher growth path, it would be unfair to declare him as better than Manmohan, who achieved more under adverse circumstances.




April 13, 2004



Indian economy: The next wave
India's economy has been well managed in the 1990s. What now?




April 12, 2004



The political economy of appreciation
Policy must address whether gains to importers outweigh exporters' losses.

Globalisation and offshoring
Economic logic of BPO is strong, but every society has its own Luddites.

No more nepotism
The Sebi has allowed the formation of a Central Listing Authority whose only job will be to come up with rules for the listing of firms' securities and to ensure these are complied with.

IIM: Case for need-based funding
Instead of subsidising IIMs, government can educate 3.5 lakh children.




April 10, 2004



It's time India praised itself
India is ready to deal with economic issues and will achieve growth rates that are comparable to those in China and East Asia in the next few years, says T C A Srinivasa-Raghavan.

PM's penchant for showpiece projects
I am in favour of visionary projects, but they do need to make economic sense, says T N Ninan.




April 09, 2004



How to pay more for less
Unless A-I and IA get their priorities right, high employee costs will remain a source of constant haemorrhaging for them, says Shyamal Majumdar

A car buyer's tale of woe
Macro-policy makers should recognise the importance of the stock market, says Abheek Barua

Is India heading for bankruptcy?
Sans fiscal adjustment, the debt burden is likely to reach unmanageable levels, says T C A Srinivasa-Raghavan




April 08, 2004



The interest rate conundrum
The economic recovery in the US will hold the key to interest rate movements in India, says Tamal Bandyopadhyay

From deficit to surplus
The pretence of controlling the exchange rate is an economic folly

The big business of catch-up
India Inc is finally beginning to think global in a more meaningful way




April 07, 2004



How Indian IT companies must change
Indian IT companies have to become good American citizens, adopt local causes and support charities generously, says Subir Roy




April 06, 2004



Vote-on-account conundrum
The real reason for postponing the presentation of the regular Budget by several states, therefore, seems to be political, says A K Bhattacharya

Are the IIMs profiteering?
IIM fees are fair by any reckoning; cut would impair earning capacity




April 05, 2004



Divestment finally comes of age
From strategic sale to public offerings, the government has taken a number of steps to bring maturity to the divestment policy, says K V Pratap

The BJP's new-age spin doctor
Ministers, as a rule, allow themselves to be untouched by their jobs, because they know how fleeting their assignment can be.




April 03, 2004



The leadership challenge
It is not the first time that HLL has been caught napping, says Arvind Singhal.

Watch the rupee!
The international mood on India just now is so positive that it is also reasonable to expect good financial flows from overseas. So what could go wrong? A strong rupee, that's what.




April 02, 2004



Welcome to the new, new world
BPO is merely a natural process in the ongoing shift to the New New World Order, where India stands out as a more efficient economy than the US, says Jamal Mecklai.

Has political advertising matured?
There is a new face to Indian political advertising. But is it sustainable, questions Madhukar Sabnavis.




April 01, 2004



It's not about fee cut alone at IIMs
One must look beyond costs and focus on value, argues Uday Damodaran.

Outsource to India, without compromising US interests
'If we went looking for business partners, India would not be the ideal choice.'

Why the rupee is on the up and up
The Reserve Bank has radically changed its strategy in an election year, says Tamal Bandyopadhyay.




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