Finance Minister Pranab Mukherjee was saddled with a number of handicaps when he presented the Union Budget 2012-13 on Friday morning.
Jaimini Bhagwati assesses the key points in RBI's discussion paper on new bank licences.
The Greece and Euro-zone bailout may not end their solvency problems but it signals that EU policymakers remain committed to global financial stability.
Process of selecting the next IMF managing director should transcend North Atlantic considerations.
Simplification of India's tax codes including stamp and other duties has to be an end objective by itself and the introduction of DTC and GST should not be delayed by protracted discussions.
G20 meetings last year degenerated into a sort of a grand junket for stressed out global leaders.
If India can fast utilise currency flows for long-term projects, the regulatory regime could be more liberal.
It is not in our interest for the rupeee to rise against the dollar in which our exports are invoiced.
RBI does need to keep signalling to the markets that it is tough on inflation.
A Carnegie paper estimates India's GDP will grow at 5.9% p.a. till 2050, compared to China's 5.6%, says Jaimini Bhagwati.
To sum up, it is increasingly likely that in the last quarter of 2010, there may be another round of convulsions in western economies. The consequent opportunity costs for India of not having insurance mechanisms in place and pushing for reforms could be higher than usual.
Hardly ever, because none of them has a crystal ball and all of them depend on current trends.
Turbulence in financial markets could mean that 'exit' from expansionary policies will be delayed.
The prospect of the Chinese central bank tightening rates is the biggest risk for the financial markets, says Abheek Barua.
In the wake of the sharp downturn in the valuations of mortgage-backed securities last year, financial firms justified their investment in these non-transparent instruments on the triple ratings accorded to them.
While there are certainly more hawks perched on monetary policy committees of central banks around the world now than a couple of months ago, the doves still have the upper hand.
The RBI may be concerned about inflation but it is unlikely to put an abrupt end to monetary accommodation
The finance minister should attempt to quickly get back to a path of fiscal consolidation.
For investors dumping dollar assets, emerging world capital markets are a clear alternative, says Abheek Barua.
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