Expert Zone
Straight from the Specialists
Budget 2013: High on expectations again
(Any opinions expressed here are those of the author, and not those of Reuters)
It’s budget time in India once again, the annual month of anxiety and expectations that everyone awaits with bated breath.
Budget 2013 will be especially important on two counts. Coming as it does ahead of crucial state elections, the Feb. 28 budget could be outrageously populist. But with the government not really following through on its policy reforms in recent months, the question is how intent can translate to concrete action. Tough decisions are needed with a greater focus on growth.
While Finance Minister P. Chidambaram visited Singapore as part of a four-city tour to woo global investors and boost capital flows into India, he did little to convince the corporate sector in the country to make additional investments.
The government may be going out of its way to attract foreign direct investment but it has to do more to gain the confidence of local businessmen and turn around the investment cycle. Which is why this year’s budget is important.
The year the Indian economy stalled
(Any opinions expressed here are those of the author, and not those of Thomson Reuters)
The year 2012 has seen the worst an emerging market economy can tolerate. Had the government been a little less reticent and more proactive, growth would not have dropped this low in spite of the economy being mauled by inflation. Other emerging market economies did exactly that.
Will Indian stocks end 2012 on a happier note?
(Rajiv Deep Bajaj is the Vice Chairman and Managing Director of Bajaj Capital Ltd. The views expressed in this column are his own and do not represent those of Reuters)
The rally in the Indian stock markets, fuelled by the so-called reform announcements, seems to have fizzled out. Frontline indexes have retraced more than 60 percent of the gains made since Sep. 13, 2012, the day the reform measures were made public.
Yet another infructuous parliament session?
(The views expressed in this column are the author’s own and do not represent those of Thomson Reuters)
The last session of parliament was a washout. The present one looks to be no different going by its chaotic start.
Time for real reforms, but low-hanging fruits remain
(The views expressed in this column are the author’s own and do not represent those of Reuters)
What seemed to be a lost cause merely three months ago has staged a remarkable comeback: the Indian government’s zeal for reform. After many months of dithering, the ruling Congress party remembered that it had the spine to stand up to fierce opposition from various state governments, finally getting its way on certain measures.
When will India’s reforms show results?
(The views expressed in this column are the author’s own and do not represent those of Reuters)
After a long silence the spell has finally been broken. The second phase of reforms in the country has begun with almost the same conviction as the first but under different conditions. The 1991 reforms were under compulsion but the present reforms are voluntary. This is because the last 20 years have been a test to prove to ourselves that reforms help and they have substantially helped to make the country an emerging market economy.
A good start but we need more reforms
(The views expressed in this column are the author’s own and do not represent those of Reuters)
It’s been a pleasant surprise over the last week or so as the Indian government appears to have transformed itself from allegedly corrupt politicians out to sell the country’s resources (read 2G and coal mines) into a group which means serious business.
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.
Economic consequences of deadlock in Parliament
(The views expressed in this column are the author’s own and do not represent those of Reuters)
The monsoon session of Parliament has been a washout without any important business being transacted. This has been made out to be a political strategy on the part of the Bharatiya Janata Party (BJP) to force early elections. Obviously, the Congress-led coalition is unlikely to oblige. The unintended victim is the economy which has been stopped from getting back to growth.
