Irrigation especially major irrigation cries for large investments especially in maintenance and rehabilitation. The positive externalities of these investments are very large. Waste in water usage too is very high. Crucial to realising the vast efficiency gains
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Coal Is Crucial For India
Coal has to be the primary energy for the country. In the very long term of course fusion and solar could become important options, but that would have to await technological developments over which we have little influence or control. China despite having far richer
Restructuring The Oil Companies
Finally there is recognition that the public sector oil companies need to merge to allow them the size to be able to hold out against larger companies. All kinds of red herrings are being put forward and it is important that we do not get this wrong. We have already w
Stemming The Hollowing Out Of Manufacturing
Monetary targeting, which is the RBI’s way, is quite unsuitable in today’s environment of vastly asymmetric growth and capital flows. The belief that money supply determines the inflation rate was never quite true in the linear fashion that seems to
Putting Forex Reserves To Good Use
Government spending cannot directly affect the level of reserves, unless the Reserve Bank of India adopts a policy of killing exports and inflows by allowing the rupee to appreciate and imports to flood the market. Even that would take time to work on the reserv