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Human capital: Where does India stand?

The skew in India towards younger generations highlights the disconnect between today’s education system and the skills required in the labour market. Upon analysis of the Human Capital Report – 2015, released recently by the World Economic Forum (WEF), it is clear that for India to tread on the path of long-term economic success, the […]

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China currency devaluation – matter of when and not if

India is not ready to step in as China’s economic engine stutters and stops. In October 2014, the Takshashila Institution published a discussion document on the China outlook for 2015. Events have followed that pattern that the document anticipated. China’s economy is slowing and the domestic economy is not rebalanced. Net exports constitute an increasingly larger share […]

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Addressing inequality in Singapore

Addressing inequality issue in Singapore and studying its implications for India.  The publication of Thomas Piketty’s 2014 book Capital in the Twenty First Century has been a catalyst in bringing the issue of inequality to the forefront of public policy debates in many countries. This is remarkable, given the book’s length (696 pages), intricacies of historical data […]

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India’s budget 2014-15

India’s budget 2014-15: Initial steps towards professionalising tax administration. There has been widespread concern that the current organisations and systems of tax administration and compliance require fundamental reform. The economic cost to the society, including costs of compliance by the taxpayers, and distortions in economic decision making due to inconsistency in tax administration procedures, and poor […]

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Imagine no taxes

Implementing Nitin Gadkari’s idea of abolishing income, sales and excise taxes will throw up many challenges. Nitin Gadkari, former BJP president, is quoted by NDTV Profit saying that they’re considering a total abolition of income, sales and excise taxes. Instead, the government will institute a 1 percent to 1.5 perecent expenditure tax, and sell or […]

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A clean air policy

Pollution equals death, disease and economic burden. In the hurly burly of politics in an election year (nine states and the run-up to next year’s parliamentary election) and in the backdrop of an economy battling stagflation, the release of two reports has gone relatively unnoticed by those who set the national policy agenda.  But the […]

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The bogus case for fiscal stimulus

A response to the critics of Reinhart and Rogoff’s theory on public debt and growth. The amount of ink that has been shed on the so-called methodological errors and data omissions of Reinhart and Rogoff (R&R) is rather astounding. These two Harvard professors wrote a paper about two years ago equating higher levels of public debt […]

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