Category Thematic Areas

RBI Affidavit Obfuscates rather than Clarifying

The government affidavit filed on November 16 justified demonetization by claiming that it was a part of a bigger policy push to digitize and formalize the economy – in its view a beneficial step. The affidavit, in paragraph 15 justifies the decision to demonetize the large denomination currency notes by stating that it was a “well-considered decision” taken after “extensive consultation with the Reserve Bank of India (‘RBI’) and advanced preparation”. The implication is that if the decision was wrong, it is the RBI’s (the expert’s) fault.

Major Power Contestation in New World Order: An Opportunity for India

To say that the year 2022 has been a tumultuous one would be an understatement. Even as the year comes to an end, Russia continues with its bombardment of Ukrainian cities, targeting Ukrainian energy infrastructure with missiles and drones. The world’s second most powerful nation, China, is facing multiple pressures. In a matter of days, the Chinese Communist Party reversed its zero Covid policy as it came under pressure from the wider public that was tired of Xi Jinping’s strict Covid measures.

Debt-Burden for Future

Fiscal Deficit Hawks, who swoop down on North Block, where harried finance ministry officials race against time to prepare the Union government's annual budget, to screech sharp orders to slash the fiscal deficit. The fiscal deficit created now translates into a higher debt burden that future generations have to service. Is that fair? It is more than fair.

India’s Place in China’s Discernment

Recent clashes between Indian and Chinese soldiers along the Line of Actual Control, or LAC, have once again underscored how a 20th-century conflict continues to shape the 21st-century trajectory of Sino-Indian relations and constrain New Delhi’s aspirations to play a larger role on the global stage. The Galwan Valley crisis of 2020 made it clear that Beijing had no intention of diplomatically resolving its border dispute with India. It also pushed Indian decision-makers into making certain choices that they were reluctant to make in the past, hoping against hope that engagement with China would be enough to produce the desired results.

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