Fiscal credibility deficit

Centre’s untidy money management creates unnecessary economic volatility and impedes investmentWritten by Neelkanth Mishra | Updated: July 13, 2015 2:41:54 am (This was published in the Indian Express: link) Before our ancestors figured out why solar eclipses happened, their “explanation” was mostly some evil creature swallowing the sun: the rakshasa Rahu in Hindu mythology, dragons … Read more

In country-sized states

State governments cannot make cities livable. They must give urban areas freedom to manage themselves.Written by Neelkanth Mishra | Updated: May 16, 2015 12:08:55 am (This was published in the Indian Express: link) Exasperated with explaining the size of India to people, I now carry a map in which the country that comes closest to … Read more

States in charge

The changing electorate and competitive federalism will be checks on their profligacy.Written by Neelkanth Mishra | March 5, 2015 12:13:23 am (This was published in the Indian Express: link) Have the states “grown up”? That’s the question to ask once the (well-justified) celebrations of “cooperative federalism” triggered by the government’s acceptance of the 14th Finance … Read more

India, US, and a better case for business

The economic impact of Obama’s trip will be better understood months or years down the line. But a good start has been made.Written by Neelkanth Mishra | Updated: January 29, 2015 2:22:47 am (This was published in the Indian Express: link) It would be myopic to judge the economic impact of US President Barack Obama’s … Read more

The village that could be a town

A diffuse urbanisation is likely in India. Yet, we continue to make policies that aspire towards mega-cities.Written by Neelkanth Mishra | Updated: January 5, 2015 5:03:05 am (This was published in the Indian Express: link) Is India 47 per cent urban, or 31 per cent? While everyone compares levels of urbanisation between countries, few realise … Read more

Shifting to the state

A structural change is afoot. It holds great promise for India.Written by Neelkanth Mishra | Updated: November 24, 2014 12:05:27 am (This was published in the Indian Express: link) Is A 1,000-employee single-city company managed the same way as a 1,00,000-employee transnational company? I recently asked this rhetorical question when an experienced foreign investor asked … Read more

Not just by hitting sixes

So far, government has kept the scoreboard moving with singles. Written by Neelkanth Mishra | September 9, 2014 12:14:14 am (This was published in the Indian Express: link) Criticism is good. It keeps people on their toes. But too often, we end up measuring what can be measured easily instead of what should be measured. … Read more

Just a Union budget

It carries little that is surprising. State budgets matter much more.Written by Neelkanth Mishra | July 12, 2014 3:05:11 am (This was published in the Indian Express: link) Deep within us rests the desire for quick fixes, of happy endings. Simple narratives are, after all, less taxing on the mind and therefore more attractive. Nothing … Read more

Change management

It won’t be painless. Five priorities: railways, energy, GST, inflation, PSU banks. Written by Neelkanth Mishra | Updated: May 28, 2014 12:09:16 am (This was published in the Indian Express: link) The strength of the electoral verdict is breathtaking and rare. First, the BJP does not have to “compromise” any of the 12-15 economically relevant … Read more

Money Talk

Piketty starts with a denunciation of economic theory and its inclination to theorise without any data.Written by Neelkanth Mishra | May 10, 2014 4:37:07 am Book: Capital in the Twenty-First CenturyAuthor: Thomas PikettyPublisher: Harvard Business PublishingPages: 696 pagesPrice: Rs 1495 (This book review was published in the Indian Express: link) Rising income inequality has been … Read more