Showing 1 - 7 of 7
West's message on war gets lost
News, Mihir Sharma, Published on 09/03/2023
» Here in New Delhi, policymakers are beginning to worry. India's long-awaited presidency of the G-20 grouping is turning out to be even more difficult than they anticipated.
Why demonetisation was a 'failure'
News, Mihir Sharma, Published on 03/09/2018
» The Indian central bank's final tally of Prime Minister Narendra Modi's 2016 demonetisation drive -- intended to take money derived from tax evasion out of circulation -- showed that 99.3% of outlawed high-value banknotes had been returned. That's a severe loss of face for officials, who had argued that holders of the cash would rather destroy it than return it to banks, providing a windfall for the government.
How India can win from big cash bust
News, Mihir Sharma, Published on 09/11/2017
» Almost exactly one year ago, Indian Prime Minister Narendra Modi went on national television to announce that, in a few hours, existing 500- and 1,000-rupee notes (255 and 510 baht) would no longer be legal tender. This came as a complete shock to most; the weeks and months that followed featured long queues at bank tellers as hapless Indians tried to exchange old notes for new, and at ATMs where they tried to withdraw enough cash to keep going. The sudden drought of cash made it increasingly difficult for small- and -medium enterprises to operate, as they relied on piles of cash for working capital. Many estimated that economic growth would slow as a consequence and events seem to have borne out this point of view.
China's carrier should worry India
News, Mihir Sharma, Published on 27/04/2017
» The launch of China's second aircraft carrier this week is an important and depressing moment for India. The "Type 001A" -- likely to be named the Shandong -- will give China an edge for the first time in the carrier race with its Asian rival, a literal two-to-one advantage. After decommissioning the INS Viraat earlier this year, the Indian navy is down to a single carrier, INS Vikramaditya. Worse, the Shandong has been built at China's own giant shipyard at Dalian; Vikramaditya is merely a re-purposed 1980s-era Russian carrier formerly known as the Admiral Gorshkov.
Modi's path forward is cleared, but still unclear
News, Mihir Sharma, Published on 14/03/2017
» When voters in the northern province of Uttar Pradesh delivered Prime Minister Narendra Modi's party a landslide victory in elections to the state assembly, he cemented his place as India's most powerful leader in two generations. With every major competitor confused, defeated or in decline, there's simply no national alternative in sight to Mr Modi or his Bharatiya Janata Party. Oddly, however, this also means we are less certain than ever about what sort of leader he will be, and where he will steer India's economy.
Major tax reform is just the start
News, Mihir Sharma, Published on 24/06/2016
» In opening up sectors from aviation to defence to 100% foreign ownership this week, India's government is clearly hoping to signal that its reform drive is revving up again. Next on the agenda may be one of the most far-reaching new measures in years: a long-awaited, nationwide goods-and-services tax, or GST.
Butter before guns please, Mr Modi
News, Mihir Sharma, Published on 17/06/2016
» The breathless excitement that surrounded Indian Prime Minister Narendra Modi's visit to Washington, DC last week wasn't completely undeserved. By pushing forward Indo-US defence and strategic ties -- in spite of considerable domestic opposition to any de facto alliance -- Mr Modi can claim to have made India stronger. Yet unless he puts similar effort into fixing economic relations between the two nations, much of that progress could be at risk.