Jaimini Bhagwati assesses the key points in RBI's discussion paper on new bank licences.
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.
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.
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.
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.
Anti-money laundering efforts will not succeed unless banking secrecy laws are repealed.
The financial and economic meltdown in G7 nations has had a negative impact on growth in India and other developing countries. Could anyone seriously believe that there is some form of financial alchemy which consistently provides returns on capital well in excess of national GDP growth rates and the major equity and bond indices over decades?
We should be less doctrinaire about monetary and exchange rate policies and stimulation packages.
Our stock markets are soaring and Indian companies (including public sector firms) have demonstrated their ability to compete internationally and achieve sustained high growth. Inevitably, in such an environment, there is criticism about government performance and praise for the corporate sector. Some attribute the achievements over the last 15 years to the private sector's dynamism and their conclusion is that the smaller the government the better.
It is time for regulators to pool efforts to standardise valuation and risk assessment methodologies used by credit rating agencies.
The High-Powered Expert Committee report sounds impatient on various issues like capital account convertibility.
Is the allocation of Indian foreign currency asset management to the RBI conducive to a satisfactory rate of return?
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