All stories by T N Ninan
Borders are derived realities, not autonomous factsRediff.com6 days ago
'Manmohan Singh's fond hope of avoiding conflict over territory by 'making borders irrelevant' is increasingly difficult to realise in a world where institutional restraints on aggression are weakening and the new game in town is unalloyed power play,' notes T N Ninan.
Does Modi Mean Business?Rediff.com25 Jun 2020
'Anyone can string together a few alliterative words, but are they a substitute for serious thought?' 'And do they make for a strategy or plan for coherent action?' asks T N Ninan.
2 out of every Rs 5 the govt spends is borrowed moneyRediff.com18 Jun 2020
When emerging from this crisis, the govt must consider a fresh approach to reviving growth, revisiting the Centre-state fiscal balance, and devising a re-imagined GST 2.0, suggests T N Ninan.
How Mukesh Ambani re-invented Reliance againRediff.com1 Jun 2020
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
Is Rahul Gandhi misfiring again?Rediff.com23 May 2020
'Rahul Gandhi's recent video performances offer little hope - the first fell flat in attacking government 'strategy'; the second showed him in a position unbecoming of a leader,' argues T N Ninan.
What the future holds for the economyRediff.com22 May 2020
Will people buy as many cars as before if more office-goers are working from home? How much existing office space in commercial buildings will become surplus, and what will that mean for the construction industry, asks T N Ninan.
There is simply no escape from printing moneyRediff.com29 Apr 2020
'This is not without risk because extraordinary steps taken in exceptional times have the habit of becoming habits until the next crisis intervenes,' warns T N Ninan.
Modi wants to be a war-time PMRediff.com20 Apr 2020
'Now Mr Modi has been offered a more real but different kind of war, which he has likened to the Mahabharat,' notes T N Ninan.
The economy is in crisisRediff.com16 Apr 2020
'We may have moved back three decades on the fiscal situation,' notes T N Ninan.
COVID-19 has exposed India's strengths, weaknessesRediff.com6 Apr 2020
India did not create the problem. But if it had a better functioning government system, it would have been able to deal with it at lower cost to its citizens, explains T N Ninan.
Only Modi can do thisRediff.com3 Apr 2020
Only a leader with sufficient moral authority with voters can pull off such experiments, notes T N Ninan.
The financial world is a dangerous placeRediff.com1 Apr 2020
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
When will Modi privatise railways?Rediff.com18 Mar 2020
'The new trains should be fast, but the roll-out of the privatisation plan should be slow and well-considered,' recommends T N Ninan.
Economy: Are shoots of recovery visible?Rediff.com16 Mar 2020
'While growth will bounce back from the current sub-5 per cent, it will stay lower than the already inadequate long-term average of 6.6 per cent,' notes T N Ninan.
What Modi needs to know about economic problemsRediff.com9 Mar 2020
'As the 1991 experience showed, the solution to a large trade deficit may be to open up the economy, not putting up protective walls,' points out T N Ninan.
Why do economists like Raghuram Rajan leave India?Rediff.com4 Mar 2020
The ones who came more recently were clutching the green cards that gave them an escape hatch through which to return to green pastures: Arvind Panagariya, Raghuram Rajan, Arvind Subramanian and other perfectly honourable gentlemen like them, points out T N Ninan.
Why only 15 million Indians pay taxRediff.com25 Feb 2020
Mr Modi should be conscious that it was his choice to slash the number of tax-payers from 60 million to 15 million, notes T N Ninan.
Why the current slowdown is more seriousRediff.com20 Feb 2020
'What is unusual about the current period of slow growth is that it has come without an external driver -- high oil prices and/or successive monsoon failures -- as was the case with all previous periods of slowdown, going back 50 years, notes T N Ninan.
When will Modi's priorities shift to the economy?Rediff.com10 Feb 2020
'It is almost certainly wrong in assuming that the Modi government will use its strong mandate to undertake some serious reform measures.' 'For it is fairly clear that the government's priorities lie elsewhere, in the powerful home minister's domain,' notes T N Ninan.
The Problem With Budgets...Rediff.com1 Feb 2020
'There is a time for lowering one's expectations of the economy -- and therefore not trying to do too much in the Budget,' notes T N Ninan.
Budget 2020: What Nirmalaji must focus onRediff.com23 Jan 2020
'The economy has to become the government's No. 1 priority, which it is not at the moment,' says T N Ninan.
Nirmalaji, time has come to modernise BudgetingRediff.com8 Jan 2020
'The finance minister in her Budget speech should spell out how exactly she intends to get back to the 7% track, and the hard decisions she intends to take in order to adjust to the realities of a slowing economy until growth momentum returns,' suggests T N Ninan.
4 mistakes Modi made with GSTRediff.com3 Jan 2020
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
For Modi, politics trumps the economyRediff.com26 Dec 2019
Perhaps the calculation is that economic recovery will have been achieved before the next general election comes around, but such assumptions can come unstuck if current directions are not reversed quickly, cautions T N Ninan.
Nirmalaji, don't waste this chance!Rediff.com10 Dec 2019
'When growth drops precipitously from 7% to 4.5% in four quarters, it is for all practical purposes a recession' notes T N Ninan.
How Modi and Kejriwal are strikingly similarRediff.com27 Nov 2019
'Mr Kejriwal is almost exactly the package that Mr Modi offers: Personal aggrandisement, the building of a personality cult through full-page newspaper ads day after day, populist schemes involving subsidies (whether affordable or required), abandonment of secular principles, exaggerated claims and no checks on leadership,' points out T N Ninan.
Can India get to $5 trillion?Rediff.com20 Nov 2019
'There is a fiscal crisis building up, which might become apparent when the Finance Commission presents its report,' warns T N Ninan.
Staying out of RCEP will come at a costRediff.com5 Nov 2019
It became increasingly clear that the real negotiations the government had to conduct were with Indian business which was wary of yet another free trade agreement, points out T N Ninan.
6% growth rate looks like optimismRediff.com30 Oct 2019
'Growth would have to be 7% in the October-March period, if the year as a whole is to clock 6%.' 'Who would bet on that when, in the world of real numbers, both exports and imports have continued to fall, car sales have continued to slump, and the industrial production index shows yet again a drop in output?', asks T N Ninan.
Why Modi wants to sell government assetsRediff.com24 Oct 2019
'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
What's the truth about the fiscal deficit?Rediff.com15 Oct 2019
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
Economy: Modi II will have to undo Modi I's damageRediff.com31 Aug 2019
'If businesses are focused on de-leveraging, they can hardly be investing. This is the price extracted by investment mistakes during UPA rule, and should have been foreseen. 'But Modi-I must share the blame, for muted reform of the financial sector, partisan policy in telecom, the harm done to exports by an over-priced rupee, and so on,' says T N Ninan.
Don't we Indians matter too?Rediff.com25 Jul 2019
If foreigners need reasonable taxes, why offer citizens something else? If foreign businessmen look for assurance on the rule of law, so do citizens, argues T N Ninan.
Does India really need imported economists?Rediff.com11 Jul 2019
Today, with growth having slowed and macro-economic challenges in every direction, would the government have benefited from the advice of 'Harvard' economists? asks T N Ninan.
Time is a luxury India does not haveRediff.com2 Jul 2019
'Is India going to miss some more of its potential demographic dividend?' 'If so, it would be for two reasons: The demographic dividend can be fully exploited only if the people in the working age are actually working.' 'And second, if those working have proper education and skills, making them productive in the workplace.' 'On both counts, the country has fallen short,' points out T N Ninan.
Budget is a 5 year Test match, not a one-day eventRediff.com24 Jun 2019
'The fiscal situation is stressed (when is it not?!), economic growth has slowed, tax revenue has fallen short and the deficit is high if it is properly accounted,' points out T N Ninan.
The new India believes to become rich is gloriousRediff.com20 Jun 2019
'And so, despite demonetisation, people in business feel safe with Mr Modi,' points out T N Ninan.
Can Modi 2.0 improve the economy?Rediff.com13 Jun 2019
Change will have to begin with Mr Modi, who by all accounts has shown little active interest in macro-economic issues, preferring instead to focus on the effective implementation of projects and programmes, points out T N Ninan.
For Nirmalaji's immediate attention!Rediff.com5 Jun 2019
'No one seems to have looked at the extent of money that is being borrowed by individuals, and the rising levels of household debt.' 'At their present rates of growth, personal loans in India could well become the largest category of bank credit in just two or three years,' cautions T N Ninan.
India must be ready for slower growthRediff.com31 May 2019
'Since the growth is not fast enough to provide jobs for the young, the fallout will be political and social,' warns T N Ninan.