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INDIA SHINING (1984 – 2004), RIP?| July 13, 2004 - 07:15It is no use pretending. While the last general election brought some good news--especially, a well deserved slap to Narendra Modi's fascist face—it also brought bad news. The hugely positive global sentiment in favour of India that had prevailed until mid May has received a setback. The clearest example is the dramatic slowdown in the growth in the nation's reserves. Until the week ended May 7, reserves had been growing at the rate of US $750 million a week. This accretion to reserves had diminished to less than US $100 million a week. The rupee has also reversed its appreciating trend. Although this may, in fact, be good for exports, but the currency trend combined with the stock market crash demonstrates that sentiment has changed, and if this is not reversed quickly it will hurt new private investment in the economy, and longer term growth, competitiveness, and jobs. |
Once again, governance let us down| May 28, 2004 - 03:54NEW DELHI--Despite strong economic growth, good monsoons, improved relations with Pakistan and America, and a new mood of national self-assuredness, (plus a winning cricket team!) Indians were unwilling to forgive bad governance, and so they threw out one of India's better governments. |
India's New Self -Assuredness| May 4, 2004 - 01:27NEW DELHI -- Next Monday, India's general elections -- which began on April 20 -- will finally conclude. In an exercise that was both staggered and staggering, 670 million Indians will have had the opportunity to vote at 700,000 polling booths via 1.1 million voting machines -- with all this, the greatest democratic show on earth, supervised by 5.5 million state officials. |
PRIVATE SECULARISM!| April 13, 2004 - 07:19“The country with the most impressive and intelligent secularist movement is India,” wrote Christopher Hitchens in the respected journal, Daedalus, last summer. Hitchens is a public intellectual who is read and listened to with some admiration on both sides of the Atlantic. He did not explain, but I think what he meant is that Indian secularism has acquired many voices and it seems to be maturing. |
WHO IS AMERICA FIGHTING AND WHY?| February 26, 2004 - 08:23It is a month since the macabre dance of death in New York and Washington and we are now in the midst of a war, but I am not sure that we understand what this is all about. People around the world are uncomfortable and insistently ask whom is America fighting? Americans are also confused. They want to know who are their enemies and why do they hate us? And hate so much that that a few young men defied the instinct to live and died for it. The trouble is that America is at war against people it doesn't know, and having gone off to war, it can't very well return without having won it. |
THIS IS NOT ONLY AMERICA'S WAR| February 26, 2004 - 08:22It is more than a month since the short, macabre dance of death in New York and Washington changed the world. We are now in the midst of a war, but many are uncomfortable and ask who is America fighting? Some are confused, and insistently ask why were they made targets of the September 11 attacks? They also wonder why is America disliked? And in this case, so hated that a few young men were willing to defy the basic human instinct for survival and die for what they believed to be a worthwhile cause. |
Capitalism and Our Schools| December 29, 2003 - 13:38The government presented the free and compulsory education for children bill in the winter session, and we are celebrating as though we had beaten Australia in cricket. We should hail it as a great blow against the curse and shame of child labour. But we are not, and for good reason — we have lost faith in the state's ability to run schools. |
First, Do No Harm| December 15, 2003 - 13:39A few months ago a well-meaning minister asked me if I had any ideas about how the government might help business. In an unguarded moment, he admitted that he had once been a socialist, but had now converted and wished to help the private sector. |
In Praise of Great Teachers| December 1, 2003 - 13:40When I was thirteen I was lucky to have a history teacher who inspired me, made me learn to think for myself, and gave depth to my private life. Many of us, I think, have had the same experience there was one good teacher at some point in our lives who changed us, and this made all the difference. Vimala Ramchandran's recent research with poor children in U.P., Andhra, and Karnataka also confirms that the biggest motivator in getting children to complete primary school is a welcoming, and affectionate teacher. |
CAPITALIST GREED| October 6, 2003 - 12:52Dick Grasso is one of the most competent leaders that the famous New York Stock Exchange (NYSE) has had in decades, but he resigned on September 17 because they discovered that he had been paid a shockingly-high salary. When I read about his $140 million salary and benefits, I thought it must be a misprint, but the obscene figure turned out to be true, and even I, a votary of free markets, winced. The head of California Teachers Retirement System (Calpers) told us that it would take an average American 5,200 years, working 40 hours a week, to make the same money. The Wall Street Journal reported that even his 2002 base salary (without benefits) of $12 million was greater than the combined pay of the heads of nine top stock exchanges around the world. |