Open Skies, Blind Eyes
IndiGo’s crisis shows how liberalised aviation leans on forbearance—profits first, safety later, with the State and passengers holding turbulence.
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Capitalism | Exploitation | India | Online Blog | Poverty | Privatization | Unemployment
Profit Over Public Interest
The Centre’s push for PSB consolidation and foreign investment prioritises bank profitability over financial inclusivity.
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Capitalism | Economy | India | Online Blog
Rupee’s Free Fall and RBI’s Silence
The central bank once spent billions defending the rupee. Now it watches it fall, saving ammunition for when Trump’s real assault begins.
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IndusInd Bank Crisis: A Wake-Up Call for Private Banking Reforms
A Rs.1,530 crore loss from mispriced derivatives and delayed disclosures raises concerns about weak oversight and risky strategies in private banking.
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Capitalism | Economy | Fascism | India | Indian Economy | Indian Politics | Online Blog
How the Modi Government Is Dismantling India’s Federalism, Politically and Fiscally
States’ access to resources is seemingly conditional on having a “double-engine sarkar”, even as governments’ space for economic policy is shrinking.
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The IMF Bias: Signals from Pakistan
In a turnaround, the IMF has now granted Pakistan a larger-than expected, nine-month, short-term loan package of $3 billion. This is independent of the earlier IMF-supported program.
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Debate Over Old Pension Scheme Divides State Governments and Centre
A number of State governments are announcing or implementing decisions to reverse their shift to the new pension scheme designed largely by the Centre. The Centre has launched a propaganda war to discredit this decision against the new scheme.
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Can Austerity End the Sri Lanka Crisis?
IMF’s solution for Lankan debt crisis could be a case of the cure being worse than the disease.
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Bank Privatization and the Never-finished Neoliberal Agenda
Successive governments with a neoliberal agenda have not been able to roll-back nationalization, even after thirty years. That fortuitous ‘failure’ shows that the criticism of public ownership of banking is misplaced, and that neoliberal policies have lost their legitimacy.
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The Rupee’s Fall: Is This Time Different?
The recent and rapid depreciation of the rupee vis-à-vis the dollar does give cause for concern. The drivers of the depreciation are not all short term. If the depreciation persists, it may attract the attention of speculators who will resort to measures that accelerate the currency’s decline.
