Most of the outreach efforts of the finance ministry to explain and create awareness about the GST have been with the bigger industry players.
German businessmen also told the Indian prime minister that the lack of a bilateral investment protection agreement was hampering their investment plans in India.
Though India seems all set to sign a free-trade agreement with the EU, the details will require time and effort to work out.
However much Modi tries to convince people that things are better today than in the pre-NDA era, his government has struggled to make considerable progress in most areas of India’s political economy.
With the BJP winning in assembly polls on divisive and emotive issues, the government seems convinced all is well with the economy.
In a one-to-one personality contest, the opposition leaders are very weak vis-à-vis Narendra Modi. They need to define their own agendas.
If the rioting by ruling party affiliates had occurred in the earlier regime, the BJP would have charged “goonda raj”. Now the boot is on the other leg.
The BJP’s consolidation of power in many states has given activities driven by the RSS ideology – represented by issues like cow protection and the Ram Temple – a fillip.
Uttar Pradesh, and indeed other states, may issue farm loan waiver bonds to banks but everyone knows these bonds will have no takers. The Centre will have to guarantee them.
Global experience shows that implementing GST caused severe short to medium term disruption in countries’ economies – we shouldn’t expect better from India’s half-baked version either.
A clear and decisive narrative of Hindutva as an integral component of the larger economic development project is already out there. Various facets of this will soon unfold.
This ‘moral cleansing’ project of the prime minister has played a big role in enabling him to break through caste barriers to create a larger social coalition.
Narendra Modi may have declared the BJP the victor, but vote-block arithmetic means UP is still anyone’s game.
Campaigning in eastern UP, Modi has tried every trick in the book – polarisation on communal lines, fiscal giveaways and pitting the poor against the rich.
Narendra Modi and Amit Shah have raised the communal temperature in the state from the fourth phase onwards, but it remains to be seen whether the party will be able to get its critical mass of Hindu votes cutting across various castes.
Between 35-40% of candidates in the UP elections have a criminal record. Many criminal acts have ideological legitimacy, resulting in reward rather than punishment, as seen in the case of the UP BJP president.
Was Dainik Jagran attempting to neutralise the possible momentum UP chief minister Akhilesh Yadav or Mayawati may get from the western UP sentiment, which seemed to be clearly going against the BJP?
There’s very little sensitivity being shown in forcefully shoving India’s small traders and producers into the formal economy. To what extent will this affect the BJP’s support base?
The dichotomy between the interest of finance capital and the needs of the social sector has never been starker.
After demonetisation, the NDA government needs to get its affairs in order: starting from reviving private investment to delivering on social programmes.
Professor Arun Kumar, who has researched extensively on the black economy in India, discusses demonetisation and the upcoming Union Budget.
Far from the UBI schemes proposed in advanced economies, in India it’s a question of whether the Centre can juggle its finances and find a better way of delivering welfare.
After demonetisation, investors and those within the BJP intellectual community are confused: Will Modi take a socialist path or will he stick to being a market-friendly prime minister?
In an interview with The Wire, the former central banker talks on the infeasibility of executing demonetisation while raising concerns over re-starting the working capital cycle of small and medium businesses.
The prime minister could use the president’s suggestion that the poor need immediate relief after demonetisation, unveil radical measures in the upcoming budget and leave the Opposition speechless.
Is finance minister Arun Jaitley budgeting in the dark? One can’t have a strategy for economic revival without first estimating the economic impact of demonetisation.
Smaller informal economy players have totally lost out in this bizarre game, when they sold their currency at a discount only to help hawala dealers and middlemen make huge profits.
The prime minister’s words will be meaningless, other than to draw attention to Rahul Gandhi’s cause, unless he supports them with actions to reform political funding.
Strong leaders often get buoyed by the self-belief that they can create a top down narrative even if something quite different is happening on the ground.
By avoiding questions on when the situation will normalise and suggesting that the growth forecast doesn’t take into account the transitory impact of demonetisation, Urijit Patel is shunning responsibility.
Did the government count its chickens before they hatched? Demonetisation as a means of extinguishing black money may be a pipe dream now.
An equity firm has estimated that GDP growth will crash to 0.5% in the second half of the current financial year.
The Centre is effectively saying it wants a cashless economy for the millions who survive in an honest cash economy. The dishonest cash economy controlled by big business is allowed to continue and thrive.
The decision to put on hold the ban on NDTV India is a threat only half withdrawn because of the nationwide protests. The Modi government continues to create a toxic discourse around national security with the idea of nibbling at various freedoms guaranteed under the constitution.
While Ratan Tata was allegedly unhappy with Mistry’s handing of government and regulatory affairs, the larger investing community did not have a problem with the former chairman’s conservative approach.
If India’s diplomatic objective is to economically punish the Chinese for their support to Pakistan, then it is being done in a deeply flawed and ham-handed manner.
The politicisation of national security comes from Narendra Modi’s desire to be projected as India’s Rambo prime minister.
The BJP could see this as a godsend because its position in UP has been steadily slipping over the past year or so primarily because of rural and agriculture distress caused by two back-to-back droughts.
While questions over America’s persistently high current account deficit remain, Trump’s economic revival plan misdiagnoses the problem and wrongly ignores global market logic.
If Jio’s cutthroat disruption eventually leads to the dominance of just one or two players, it may not be good for consumers in the longer run.