For good policy, and good governance, it is necessary to provide full independence to the Reserve Bank of India.
India's policy of rupee appreciation has had the unfortunate, and predictable, effects of not only hurting the Indian economy but also benefiting the Chinese economy.
Opportunity beckons about once every 10 years - sense and profit favour going long on the US dollar against the majors, and short against China and East Asia.
Implementing two simple policies - registration, not licensing, of foreign portfolio investors, and reduction of interest rates - will make capital inflows non-copious.
Now is the most appropriate time to undo many of the misguided policies plaguing the Indian financial markets.
The seemingly off the cuff Prime Minister Manmohan Singh's comment about the Left withdrawing support to the government if they felt like it was anything but off the cuff.
The Chinese fight to keep their exchange rate low; we fight to keep it high. And from equal status in 1980, China's per capita income is thrice India's today.
The recent forecast by the EAC implies a sharp acceleration in export growth, despite a large 10 per cent appreciation of the rupee. This is new economics.
Somewhat surprisingly for many arm-chair experts, inequality in India has stayed broadly constant over the last 25 high-growth years.
There is abundant evidence that the Indian economy is not overheating. So stop the presses from broadcasting this now absurd conclusion.
The rupee and a BMW both move fast. So will a rise in the rupee make the BMW move even faster?
Why would one join the Congress party, and have a zero per cent chance of ever being the leader, versus having a 0.1 per cent chance somewhere else?
The RBI Deputy Governor should be sent to China to learn how the Chinese do their exchange rate management.
There is considerable evidence to suggest that the Indian inflation problem is a has-been problem, a problem that has ceased to be.
The Indian economy sees a change of guard. Nobody seems to care for, or be afraid of, the politician.
There is increasing evidence that the RBI may well have overreacted in its monetary tightening in 2006, not unlike the 1995 monetary fiasco.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances