ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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COVID-19 Should Make Us Re-imagine the World Order

As a bio-security crisis brings the world to a brink, the dominant neo-liberal vision of world order must be displaced by a humane globalism and institutions that actually supply public goods.

Triggering a Global Financial Crisis

Whether a black swan or a scapegoat, Covid-19 is an extraordinary event. Declared by the WHO as a pandemic, Covid-19 has given birth to the concept of the economic “sudden stop.” We need extraordinary measures to contain it.

Questioning Citizenship-based Taxation in Budget 2020

The proposal in the Finance Bill, 2020 to introduce taxation on the basis of citizenship for those non-resident Indians who do not pay tax in their countries of residence has proven to be controversial. It creates an altogether new basis for taxation of income under Indian laws. While criticisms related to its (unintended) impact are justified, there is also a need to examine the constitutional validity of this move given the extraterritorial nature and impact of the tax.

Climate Change Is Uninsurable, So, What Should We Do?

I have had a career that has spanned investment banking, public policy, and academia, in the early phase of my working life. As you can imagine, academia was the least, and investment banking the most, posh. I can recall a time when the Prague Symphony Orche­stra put on a private concert in Prague...

An Epistemic Change?

It was the Central Legislative Assembly of British India that first enacted the Foreigners Act, 1946, giving the government the powers to deal with “foreigners” in India. The enigmatic definition of the term “foreigner” in it was “one who is not Indian.” In December 1955, Parliament enacted the...

Modi’s Multi-alignment and Nehru’s Non-alignment

There is very little to distinguish between the foreign policy of Jawaharlal Nehru and Narendra Modi. Both are equally aligned with America to serve its hegemonic interests. Nehru’snon-alignment and Modi’s multi-alignment is not averse to playing ball with the American hard as well as soft power. Both policies see America as a natural partner of India.

A Decade of Decay

Between 2010 and 2019, the Supreme Court of India has suffered a credibility crisis not seen since the 1970s, with its reputation for independence and institutional strength lying in tatters. Deep systemic failings have come to the fore as the Court enters a new decade in the midst of an existential battle for relevance.

Revisiting the NBFC Crisis

Even while the effort to resolve the crisis resulting from non-performing assets in the banking sector was underway, India’s financial sector was overwhelmed by failures of large non-banking financial companies. In the discussion that followed the collapse of these NBFCs, the emphasis has been on the absence of due diligence, poor financial management and downright fraud. The environment these firms found themselves in did encourage such tendencies, but there were structural reasons as to why these institutions accumulated bad assets, and these reasons are often ignored.

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