Those hoping to clean up our institutions imagine conducting sting operations, with hidden cameras, to catch the culprits in action. There is nothing wrong with such investigations. Governments should be afraid of the citizens. However, it is erroneous to think that the removal of bribery would solve the problems and defects of our institutions. Survival […]
29
Oct
Oct
GDP: A Brief but Affectionate History by Diane Coyle (Revised and Updated Edition 2014, Princeton University Press, pp. 167 ) Diane Coyle’s little book GDP: A Brief but Affectionate History tells a very mainstream history of the statistics of GDP (Gross Domestic Product) in brief 145 pages. The book is divided into six chapters not […]
25
Oct
Oct
The finance minister of India Mr. Arun Jaitley announced a bailout package of 2.11 lakh crore (US$ 2.11 Trillion) for the public sector banks of India yesterday saying that this will boost their lending activities, which is right now under pressure because of their huge non-performing assets (default loans). The logic behind boosting lending of […]
22
Oct
Oct
Morgan Stanley (MS), an international financial institution, has come out with a report on India claiming that India was already on a path to growth, but the country’s drive towards digitization may put it on track to be the world’s fastest-growing economy over the next decade. MS’s study makes the claims primarily on two initiatives: […]
17
Oct
Oct
India ranks 100th in hunger, below North Korea, Bangladesh, Nepal and Myanmar. The GDP of India on per capita basis (2016: US$1,709) is lower than that of Africa. At least 50% of Indians do not have access to toilets. Officially 35% cannot read or write—the reality of literacy and employability is much worse. 240 million […]