Hemindra Hazari 17 February 2017
Historically, India’s net oil subsidy was nothing but a myth after factoring in taxes on petroleum products. But in the last two years, as oil prices declined internationally, the government went further and shifted to an oppressive regime of...
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It is curious that the first step of a reform-minded Chicago-school scholar was to announce a subsidy. Of course, unlike the subsidies that Rajan criticised as chairman of the Committee on Financial Sector Reforms in September 2008, this subsidy would go not to low income sections of the population, but to the banks.
Hemindra Hazari
In the ongoing demonetisation saga, the credibility of India’s central bank keeps plunging to new depths.
Repeated contradictory notifications, restrictions on cash withdrawal of deposits, inadequacy of new notes to replace the withdrawn high denomination notes, and a...
The fact that the RBI supported the administrator’s actions in the court case indicates that, in all likelihood, it had orally instructed him to proceed.
On January 20, 2023, the Bombay high court dealt a body blow to Yes Bank. It set aside the...
