Free Press Journal
  • Troubling free fall of the Rupee

    The Rupee has been sliding lately. The price of the Rupee was hovering around Rs 64 to a US Dollar for the last few years. Recently, it has slid to Rs 67 and analysts expect it to further decline to about Rs 70 to a Dollar. The price of the Rupee is determined in our…

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  • Towards a global fundamental rebalancing act

    The first direct train from China to England reached London recently. It traveled 12,000 kilometers carrying a cargo of garments and other manufactured goods. This is the trailer of the times to come. China is aggressively pushing the Belt Road Initiative (BRI) to establish state of art road and rail transport facilities from China to…

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  • Should renouncees enter politics?

    In Chapter 18 of the Gita, Lord Krishna explains that it is not possible for a person to give up all actions. For example, a sannyasi or renouncee has to beg for food or make a hut of grass to protect himself from rain. However, Krishna said that it was possible to give up the…

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  • Run! Run! Run! The Robots are coming!

    Large numbers of jobs such as the manufacture of cars on the assembly line are increasingly being done by robots. About one-half of the present day jobs may be under threat from robots. White collar jobs like those of legal research are under threat from Artificial Intelligence (AI). We cannot stop this thunderous entry of…

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  • Result-based funding of universities

    The Government has decided to grant autonomy to 62 universities including the Aligarh Muslim University and Benares Hindu University, and other institutions of higher learning. These universities will now be able to freely design new courses, open new centers, and give higher salaries to specialised faculty members without having to obtain the consent of the…

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  • world water day, mumbai, 2050, UN report, United Nations, Water shortage

    India faces manmade water crisis

    The per capita availability of water in Delhi is more than that in Amsterdam. China, with a larger population, uses 28% less fresh water than India. We have ample water yet we face a huge water crisis. About 80 percent of our water is used for agriculture. We are cultivating water-guzzling crops like grapes in…

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  • We must follow Donald Trump’s protectionism

    We need to change gears. Instead of running after FDI, we should focus on encouraging our businessmen to invest in India rather than fleeing abroad. United States president Donald Trump has imposed additional import duties on solar panels and washing machines to protect American manufactures. He proposes to impose similar import duties on steel and…

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  • Economic growth alone is not enough

    Economic growth has not led to increase in real wages because it promotes capital-intensive production. The Modi Government, like its predecessor UPA Government, is pursuing economic growth as a path to securing welfare of the people. Assumption is that economic growth leads to increase in the wage rates and improved standard of living of the…

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  • Systemic cure of PNB scam is required

    The mistake made by Narendra Modi  is that we have unnecessarily  expanded the role of the government  in the provision of private goods. The Punjab National Bank scam points to the need of a deeper cleaning of the bureaucracy. Anecdotal evidence indicates that Prime Minister Shri Narendra Modi has appointed a number of honest officials…

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  • Welcome the march of protectionism

    We should get off the horse of globalisation and ride on the horse of protectionism. The Government Minister is trying to ride the two horses of globalisation and protectionism simultaneously. The prime minister proudly announced as Davos that while globalisation is giving way to protectionism across the world, India “remains open for business”. He laid…

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  • FM will fall trying to ride on two horses

    The finance minister is not able to either  reject or adopt globalisation. He will fall trying to do both. The finance minister has imposed higher import duties on mobile phones and a few other items in his quest to provide protection to domestic manufacturers from cheap imports and to increase the revenues in the coming…

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  • Will Budget grant relief?

    This is a good budget. The finance minister has raised monies from three sources. One, the number of income taxpayers has increased subsequent to demonetisation and introduction of GST. Two, receipts from the sale of Government shareholding in Public Sector Undertakings are buoyant. Three, higher customs duty and surcharge will lead to increased receipts. These…

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