Passionate About India

What is the role of a ruling government, after all? I'm sure my answer doesn't consolidate all views, and might even be considered too simplistic for the eco-politico geeks; yet, aren't the elected group of politicians in any democratic nation supposed to ensure that there is continual social, economic and cultural uplifting of citizens through dynamic, focused and objective oriented policies and measures? If you agree to this, then you would also agree that on each and every such aspect, Indian politicians have had minimal and insignificant contributions, if not nil. India's pockets of improvements have either occurred because of the spirit and perseverance of its civil society, or in specific cases, because of a conspiratorial connivance of the political class with the business class. In either case, the impact of any advancement has not benefited the majority of India's population. How can one justify the fact that India still has such a massive population of pe...

Raghuram Rajan is potentially great news for the Indian economy. Anyone who talks about “Saving capitalism from the capitalists” has to be good news, for humanity per se. The IIT, IIM educated man is an intellectual of a relatively high calibre. Not that all his arguments are correct – mainly because of his lack of understanding of the positives of a planned economic system – but his heart is in the right place. Having spent most of his life in USA, his panacea for all ills, as expected, is capitalism. Where he scores however is his better understanding of capitalism’s ills and where capitalism’s ‘fault lines’ are. He has rightly championed the cause against monopolies and oligarchists – and that’s the key reason why he is the man India needs. Rajan’s analysis about India very correctly observes that the big Indian billionaires (the guys I call “Blood billionaires”) are in those sectors where there is high government interference, and where licensing and price controls are highly ...