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Showing 1-9 of 9 results
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Does Modi deserve a second term?
News, Mihir Sharma, Published on 30/05/2018
» Four years ago this week, Narendra Modi was sworn in as India's prime minister amid the kind of excitement and expectation not seen in decades. Not for 30 years had a single party won an electoral majority. Mr Modi's success, his rhetoric and his background all seemed like a decisive break with India's past.
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Tiny ad may set Indians free at last
News, Mihir Sharma, Published on 16/06/2018
» It was the most carefully examined square of newsprint in recent Indian history. Last week, a small job ad appeared on the inside pages of some newspapers looking for candidates for the post of "joint secretary" in the Indian government. Within a few hours, the ad had gone viral: Opposition politicians had weighed in, Twitter was agog and hundreds of thousands of 40ish Indians wondered if they had one last opportunity to make their parents proud.
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North-south divide grows ever more dangerous
News, Mihir Sharma, Published on 25/04/2018
» When Indian Prime Minister Narendra Modi visited the southern city of Chennai recently, he must've been startled by the welcome he received. Half the city, it seemed, had turned out to wave black flags at his motorcade, as well as banners that read "Go Back, Modi". When the prime minister hopped into a helicopter, the crowds cleverly sent up black balloons in its wake.
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Indians' skills don't match up -- yet
News, Mihir Sharma, Published on 16/11/2017
» If India is to live up the expectations of its own people and become a successful middle-income country in a few decades, the country has multiple problems to solve -- its sclerotic politics, its clogged infrastructure, its choked judicial system, its lack of investable capital, its interfering and inefficient state. But perhaps the greatest hurdle is its poor stock of human capital. Without better education, health and skills, India won't be able to build a middle class and its efforts to become the next China can't succeed.
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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.
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New tax system all tangled up
News, Mihir Sharma, Published on 28/09/2017
» India's new indirect tax system, which for the first time tries to standardise most taxes across this vast country's many states, is proving to be even more difficult and disruptive to implement than first feared. That speaks to the unnecessary complexity the government's introduced into what should have been the simplest of laws.
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India losing faith in free-trade deals
News, Mihir Sharma, Published on 11/04/2017
» Until fairly recently, it looked like two massive new agreements would compete to define the future of world trade. The Trans-Pacific Partnership, backed by the US, would try to move the global trade architecture toward new norms, with harmonised regulations at its centre. Meanwhile, the Regional Comprehensive Economic Partnership, backed by China, would drastically reduce remaining tariffs across a swathe of Asia and push the existing model of trade and manufacturing as far as it could go.
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Budget must address India's reputation problem
News, Mihir Sharma, Published on 31/01/2017
» One of the least enviable jobs in the world at the moment has to be that of the Indian finance minister. Arun Jaitley is to present his fourth annual budget to India's parliament tomorrow amid terrible headwinds -- mostly caused by his government's bewildering and disruptive decision to invalidate 86% of India's currency last November. If he's to revive growth, the first thing he has to do is rethink his priorities.
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Could India be the first country to get rid of cash?
News, Mihir Sharma, Published on 22/07/2016
» 'Black money" -- the colloquial name for a vast network of off-the-book cash transactions and unbanked savings -- is one of India's biggest scourges. Amounting to as much as $460 billion (16 trillion baht) a year, bigger than the GDP of Argentina, all that money lies beyond the reach of the tax authorities, creditors and anti-corruption investigators.
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