I was just returning home from office and saw this warning banner (see figure 1), which my local municipality office hung on the middle of the road, saying, and I translate from local Gujarati language, You are now entering a Coronavirus infected high risk area so be careful. Any sane thinking person will immediately ask […]
03
Sep
Sep
In the aftermath of full lockdown imposed by the central government of Narendra Modi, Indian GDP has crashed by -24% in the June quarter. This is an historic event. Government’s revenues continue to plummet while their expenditures, to supposedly revive the economy, continue to sky rocket resulting in historically high record budget deficits. Government’s debt […]
30
Aug
Aug
Price of gold (and silver) is going up recently. The price of gold has risen from under 40,000 rupees per 10 gram to 54,000 rupees in these few months time. Internationally also price of an ounce of gold has breached historic US$2000 level. What is driving prices of gold and silver higher in India and […]
28
Aug
Aug
For the last several decades, the Indian government has announced one mining policy after another. After each change, ministry officials go around international conferences boasting about how India is opening up. The devil is always in the details. And the details are never thought out. Policies are utopian, unrealistic, distant from ground realities, and based […]
26
Aug
Aug
The Indian central bank RBI recently said that, Indian government consumption key to growth in economy amid pandemic. Indian government spending will support the economy during the pandemic, but private consumption will be needed to drive any economic recovery once the coronavirus threat eases. Is it so? Is government spending and consumption key to growth? […]