The first, and perhaps the most important, "known" for judging economic prospects is the slowdown in the US economy with the fourth quarter 2007 GDP growth rate there coming down to below 2.0 per cent. US economic growth is expected to be sluggish in 2008 and so too in the Euro-zone and Japan. In fact most analysts are looking to continued high growth in China and India to maintain global GDP growth at 4 per cent or thereabouts.
The behaviour of stock markets in the short term is affected by sudden changes in the availability of liquid funds in the hands of the big market players, which is what has happened now with the sub-prime crisis and the changed economics.
Global stock markets are booming but policymakers must prepare for less favourable conditions.
SEZs are business-friendly but not market-friendly. They work against an economic policy that promotes competition.
The finance minister should worry more about long-term problems than short-term imbalances.
The affected community must share in the gains from the use of its land for development.
Can the government implement the big policy changes required for high growth?
Overseas expansion by Indian companies can leverage India's comparative advantage.
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