Expert Zone
Straight from the Specialists
India’s privy purses and the Cyprus deal
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
When the Indian republic took shape, the erstwhile maharajas and princes were granted privy purses. These were allowances which varied based on the size of their state and the revenue it generated.
Some 25 years down the line, when India was high on socialism, the Indira Gandhi government abolished these privy purses through a president’s ordinance after failing to get the bill passed through parliament.
The princes challenged it in the Supreme Court, which gave a verdict in their favour*. Appearing against the government was none other than Nani Palkhivala.
That’s the spirit, Mr Prime Minister
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
Manmohan Singh’s “if we have to go down, let’s go down fighting” comment is exactly the spirit which needs to be demonstrated by those in power. After all, desperate times call for desperate measures.
Some pain needed for long-term growth story
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
The senior Bush’s call for a new world order following the end of the Cold War began unravelling authoritarian regimes which formed its delivery mechanism around the world.
Challenging times but hopes of recovery after 2014 polls
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
These are possibly the most challenging times for India because, simply put, every goal post seems to be oscillating.
Great potential in India long-term growth story
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
Reforms seem to be the flavour of the season after we relished and put aside the corruption issue.
Time to think beyond monetary policy rates?
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
Irrespective of the RBI monetary policy review and its outcome, the fact that policy rates have assumed such obsessive focus needs closer scrutiny.
How do we explain India’s economic woes?
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
Our GDP growth rates have slid consistently quarter on quarter from 8.5 to 5.3 pct. Surely this is in keeping with a glaring trend. Therefore, this sudden surge of emotions and panic after wallowing in so such mass self-deception is surprising to say the least.
GAAR: Irrational tax laws or misplaced arrogance?
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
The congratulatory press clippings proclaiming the ‘rollback’ of measures in Finance Bill 2012 have suddenly cleared the air and even the stock market cheered on Monday.
With markets falling, it’s a good time to invest
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
The Sensex tested the 16,000 mark last week after 15 months.
I believe the following three quotes which made headlines on different days, tell us a lot when we put them together.
It’s time India reposes faith in itself
(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)
The one thing common across Asian tiger economies, including China, is that all of them have had to give up political liberties to achieve economic freedom. The situation in India is just the opposite.
