Do it yourself

The government has announced a spate of policy measures to put the economy back on the growth path. The measures and intent to encourage manufacturing in the country is however the most publicized and discussed about policy initiative. It is a clear departure from the extant policy of global cooperation and using bilateral and multilateral trade agreements to benefit from the resources and manufacturing prowess of partner countries , So far, we have not seen a comprehensive policy framework for the policy initiative. The basic principle of management would guide that to execute such a major policy intuitive, which may have significant impact on the lives of 140cr people, the planners must first lay down a detailed conceptual framework, which defines in very unambiguous terms, at least the following: (a)    The need for such policy initiative; especially the circumstances that have necessaitated the significant change in the policy direction and intent; ...

Pataal Lok (the Under World), a new series released last month on Amazon Prime, seems to have ruffled many feathers. There is a spate of criminal complaints against the producers of this series, alleging racists, sexist and communal bias in the story line and depiction. On the other side, there has been abundance accolade for the intensity of plot and brave presentation. Intrigued by the diverse opinions, I decided to watch the series and decide for myself. My take is as follows. The readers may note that I find it materially relevant for my investment strategy. In my view, it involves some of the most critical lacunae of our system including communities, political establishment, administration, law enforcement & crime investigation, justice and criminal reform system, which have a strong bearing on the economic growth and development. I strongly believe that these lacunae have materially hindered our growth potential and there is little to suggest that the things are ...

The 4QFY20 economic data has again highlighted the points, I have been emphasizing for past many quarters, which is- (i)     The economic growth in India has been declining structurally since the global financial crisis (GFC) of 2008-09. For couple of year, monetary and fiscal stimulus given by the extant government to mitigate the impact of global crisis supported the growth. However, post FY13, the growth trajectory never looked like retracing to pre GFC levels. A strong number in FY22 would be purely a base effect.   (ii)    The long term growth curve in India has shifted down. The potential growth in India is no longer 8% plus. The pivot is somewhere close to 6%. (iii)   The global deflationary pressures are causing the nominal growth curve to shift down even more than the real growth. It is pertinent to note that a sustained fal...