Sri Lanka's crippled economy requires immediate and robust reforms. India faced similar adversity when PV Narasimha Rao pulled the country out of the economic crisis in 1991. Will new president Ranil Wickremesinghe follow the example of India's 1991 reforms to save his country and economy?
Sri Lanka is experiencing an economic, political and strategic crisis it has never had before. The situation is fragile – but a creative solution and determined national interest can help return the island nation to stability and growth. Amb. Rajiv Bhatia, in conversation with economist Dr Ganeshan Wignaraja on how Sri Lanka came to the current condition, and the remedies to adopt.
Tarun Kataria, CEO, Religare Capital Markets India foresaw the decline of the rupee to the 60 mark against the U.S. dollar several months ago. He speaks to Gateway House’s Manjeet Kripalani about the impact the rupee crisis will have on the economy and consumers and how the government can reverse the situation
Courtesy: Center for American Progress Action Fund/Flickr
The U.S. Secretary of State’s visit to India comes at a time when India is witnessing significant realignments in its domestic politics while the U.S. is busy tackling its cyber-spying allegations. Amidst these preoccupations, will the upcoming India-U.S. talks churn out substantive outcomes?
The government, knowing well what the markets wanted, ensured that there were no surprises for the 2013-14 budget by forecasting a fiscal deficit of 4.8%. A closer look at the math, however, reveals a different story.
Just a few years ago, India seemed on the brink of becoming the world's next great power. Today, its future appears less certain. Although some have blamed the global economic recession, the real problem is domestic - namely, the centralized, secretive and arbitrary political culture that pervades New Delhi.
The West is quick to claim that their sanctions against Myanmar have forced the government to implement political and economic reforms in the country. However, such bans do not usually achieve their stated purpose of forcing regimes to change their behavior.
India’s tumultuous politics, weakened capital market, retroactive tax laws, uncertain growth rate, and bleak investment climate are adding up to India’s gloom. We need strong leadership and bold reforms to strengthen our economy.
Gateway House's Director Manjeet Kripalani wrote an article for Outlook India about the Union budget of India. She gives her opinion about the budget and raises doubts on the reforms, if any, that have been proffered.