Category DNA Money

How to reduce “bribe taxation” by the use of technology

In India, the index of middle class misery can be measured by adding the tax rate, the inflation rate, and the corruption rate. The last one is not discussed in open forums by experts since they are worried about the next round. Of course, there is a conspiracy of silence among political leaders, since they […]

Scam-tainted money may be moving the markets

The financial accounting course taught in every commerce college and business school — Accounting 101— includes a discussion on the sources and uses of funds. In all the discussions on the scams pertaining to the Commonwealth Games (CWG), the Indian Premier League or the 2G spectrum, the focus is on sources, not uses. For instance, […]

So many lobbies in Delhi, but none to bat for India

New Delhi is like a huge five-star hotel, flooded as it is with lobbies of all types, shapes and interests. What is missing is an Indian lobby. We all know about Warren Anderson, former chief of Union Carbide during the Bhopal gas tragedy. He landed in Delhi and went to Bhopal. Based on a non-bailable […]

Mr Obama, do you have real business to talk with us?

The next two weeks will be full of atmospherics and inanities linked to the visit of US president Barack Obama. Indians are known to derive satisfaction from symbolism rather than substance. When Diwali was supposedly celebrated by George Bush’s White House — a celebration in which the US president did not participate — we went […]

Hasten slowly in opening up the banking sector

The reform debate in India has developed a single-point focus on the entry of foreign entities into various sectors. Whether it is retail trade or education or banking, the word reform means allowing the entry of foreign players. It is really unfortunate because there are a zillion other things one needs to do in the […]

The art of killing micro financial institutions

A colleague at a well known US university asked me once about areas which are not regulated by the government in India. I thought about it and the only answer I could give was pertaining to music /dance performances and other art forms as long as one does not want government awards. Government does not […]

Learning to deal with confused and declining empires

The decision of the Ohio state government to restrict outsourcing for government contracts has created a furore among IT and other business groups. Barack Obama is also bashing the outsourcing industry — and Indian companies. But is all this new? In 2003, New Jersey went down the same populist road. Here’s a report from that […]

Kashmir Valleys problems are not economic innature at all

It is fashionable for bleeding heart liberals (BHL) to offer unsubstantiated arguments on behalf of the militants of Kashmir Valley. Lumpen liberals like that one book wonder Arundhati Roy (who proudly proclaimed in the US two years ago that she had seceded from India since India was not a democracy) need not bother us here. […]

Why economy is growing despite jholawalas and Wall Streeters

The economic policies of UPA-2 are afflicted by a condition called multiple personality disorder. The diagnosis requires that at least two personalities routinely take control of the behaviour of a person with an associated memory loss that goes beyond normal forgetfulness. The economics of UPA-2 is caught in a pincer attack between jholawalas and Wall […]

Our kiranas deserve better, including a ministry of their own

Trade, with a GDP share of 15.1%, only slightly less than manufacturing at 15.6%, is an important segment of the economy. More than 125 lakh kirana stores provide a source of livelihood to 16 crore people. Retail trade has grown faster than the economy: it registered a compounded annual growth rate (CAGR) of 9.4% between […]