Not reform vs populism - Pratap Bhanu Mehta / The Indian Express. Some very good points here, but the writer perhaps fails to adequately convey the fact that opposition to reforms nowadays is hardly about ideology, it is about political opportunism. It is fashionable these days to fanatically oppose any policy moves, regardless of whether they are in the interest of the nation.
Some (well-founded) skepticism on the supposedly 'Big-Bang' reforms, plus some ideas for the real thing, first from V. Anantha Nageswaran in Mint, and then from R. Jagannathan in Firstpost. I would recommend Nandan Nilekani's book Imagining India for those looking for detailed reform ideas (although Nilekani inexplicably fails to mention reforms in the judiciary in his book).
Again from Firstpost (which has really taken the UPA to the cleaners over bad economics in the last year or
so), you might want to read this by Vivek Kaul.
Jay Mazoomdar tries to make sense of Mamata's walk-out from the UPA in The Economic Times. Personally, I think it's futile to even attempt to figure out someone like Mamata. Yes, I know she's a survivor, has beaten nearly impossible odds, even without a political lineage, etc. etc., but none of that necessarily proves she is of sound mind. There is a saying “Some of the world's greatest feats were accomplished by people not smart enough to know they were impossible.” I think some feats are so impossible that only someone truly crazy will attempt them. However, let me add here that Mamata is probably better for West Bengal than the Left.
Also, I don't agree with the following assertion from the author of the article - 'In spite of the success in pushing through the current set of reforms, the party may not benefit at all. The FDI in retail will take years to benefit the economy. The fuel price hike has only taken off a fraction of the subsidy burden. The harsh measures will irk the voters who may not see any tangible benefit by 2014.'
I think we have already seen some of the benefits. Like improvement in business sentiment (and confidence in general among all economic agents - with the possible exception of small retailers), halt in the depreciation of the rupee, lesser likelihood of rating agency downgrades, possibly even increased productivity in the bureaucracy (which will hopefully be emboldened by the steps, and will actually push files instead of sitting on them), among many others. Virtuous cycles could be started by small steps.
More on Mamata, and the UPA from Abheek Barman in TOI.
Namrata Acharya / Business Standard on West Bengal's dire finances, if you are interested in that sort of thing. Unfortunately, they are unlikely to improve under Mamata's watch. Hopefully, there will be no bail-outs without significant structural reforms as a condition.
Swaminathan Aiyar defends retail FDI in TOI. The article features this gem - 'Only in India do opposition parties want to protect the aam bania against the aam admi.' Also, you may want to read my own small attempt here.
Ravikiran Rao (rightly) criticizes the NAC in Pragati. Maybe the NAC members should take an economics 101 course?
Business Standard editorial claims gutka bans will not work. I am inclined to agree, although arguments could be made both ways on this very difficult policy issue. It will be interesting to see how much organised crime and police/political corruption rises as a result of these bans in the medium term.
Ravikiran Rao criticizes Vasant Dhoble in Pragati. Outdated laws hurt us in so many ways. And yet revisits and revisions on them are hardly on the legislative horizon. If 'civil society' wants lesser corruption, perhaps they should pressure politicians on these issues (or enter politics themselves) rather than dream of grandiose corruption-fighting institutions.
R. Jagannathan in Firstpost on why we need more blasphemy, not less.
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