Thoughts and Reports
-
Prospects in Banking
Banking will remain a strong sector in India, but its role is evolving from being the dominant source of capital to becoming one among several channels of financial intermediation. Technology, AI, and deepening capital markets are allowing companies to access investors directly for both equity and debt. This may moderate the pace of banking sector… Continue reading
-
Development and Heavy Construction
Construction activity is often celebrated as a sign of development. New highways, airports, housing projects, industrial parks, and smart cities certainly create jobs and improve connectivity. But construction by itself is not development.Every building, road, and township comes with a cost—land is consumed, water resources are stressed, energy is used, and environmental balance is affected.… Continue reading
-
Why Is Rupee Weak
The persistent weakness of the Indian rupee reflects a structural feature of the Indian economy. India possesses substantial human capital and entrepreneurial talent, but compared with major resource-rich economies it remains dependent on imports for many critical inputs such as crude oil, natural gas, fertilizers, copper concentrates, lithium, cobalt, rare earths, electronic components and advanced… Continue reading
-
Planning for Retirement
A simple path to long-term financial security for a middle-class person may be to accumulate physical gold steadily throughout working life. Buying 6–8 grams of gold every month for 30 years creates a tangible store of wealth that is free from many of the uncertainties associated with businesses, markets, governments, currencies, and financial institutions. The… Continue reading
-
Can Everyone Become Wealthier
Can everyone become wealthier when the physical resources of the Earth are finite?The answer depends on what we mean by “wealth.”At its most basic level, real wealth consists of things that satisfy human needs and desires: food, shelter, clothing, energy, transport, healthcare, security, knowledge, and leisure. Yet when we look around, much of what is… Continue reading
-
Speaking About Lived History
A Memory of India Before 1991I belong to a generation that lived through the decades before the economic reforms of 1991. Therefore, when I hear discussions about that period, I often feel that many younger people do not fully appreciate what everyday economic life was actually like.I have no hesitation in acknowledging the importance of… Continue reading
-
Wealth Tax vs Income Tax
A Case for Replacing Income Tax with a Moderate Wealth TaxThe present system of taxation is largely based on taxing income. This requires extensive accounting, detailed record-keeping, audits, assessments, litigation, and constant disputes over what constitutes taxable income. A vast amount of productive time and energy is consumed by taxpayers, businesses, professionals, and government machinery… Continue reading
-
Teams of Talented Youths
A New Export Industry for India: Global Enterprise Management ServicesIndia possesses one of the world’s largest pools of educated and talented young people. While many find productive employment, a substantial number remain underemployed or unable to fully utilize their abilities. At the same time, businesses across the developed world face rising costs, managerial shortages, succession… Continue reading
-
Rupee/Dollar Parity…does it matter much?
Beyond the Rupee-Dollar Rate: A More Meaningful Approach to Assessing Economic ProgressAmong the many statistics that attract public attention, few are discussed as frequently as the rupee-dollar exchange rate. Movements in the currency are often interpreted as evidence of economic success or failure, national strength or weakness, and even the competence or incompetence of policymakers.… Continue reading
-
Private Gold for Nation Building
India’s Hidden Sovereign Wealth: The Case for Mobilising Household GoldIndia frequently debates how to finance its future. We discuss taxation, fiscal deficits, foreign investment, sovereign borrowing, infrastructure bonds, and public-private partnerships. Yet one of the largest reservoirs of wealth available to the nation already lies within its borders, owned by its own citizens.That wealth is… Continue reading
Panch Tattva Wisdom 