When interest rates are determined through the market, there is only a limited role for development finance institutions (DFIs). In the era of controls, and where the state mobilised and directed (if not monopolised) much of the savings and resource
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Soft-Peddle Agriculture In WTO Talks
In policy circles, there is unanimity that with Europe and the advanced countries moving to less support for agriculture, India, as a developing country, would stand to gain. Unfortunately, the matter is not so self-evident. India’s comparative ad
Exporting Onions v/s Higher Learning
The HRD minister thinks he is doing right by preventing IIM, Bangalore, from taking up its Singapore campus project. First, the minister has violated the earlier permission granted to IIM-B by his own ministry. This is illustrative of a major risk i
Promote Markets To Hedge Traffic Risks
While the risks in road construction have fallen steeply since the first BOT roads of the National Highways Authority of India (NHAI), they remain much higher than they need be. The risks of land acquisition are particularly large in populous areas
Infrastructure Spending And Forex
Foreign exchange reserves are not like a bank balance which can be converted entirely into cash for spending. The issue of government expenditure for infrastructural investment has little directly to do with using or not using these. It has to do more with the e