India: Links for 13th August, 2019

Five links about India from the past couple of weeks:

  1. Nitin Pai explains why the banana thingie was a mere storm in a teacup.
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  2. A rather uninspiring review of the GST impementation, by reading the CAG review of the… well, GST implementation.
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  3. Vivek Kaul in the Livemint analyzes credit growth in the economy, and asks who exactly is borrowing. To me, this article raises more questions than answers.
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  4. “At the Centre, the privatisation of state enterprises during the Vajpayee era is an aberration which validates the norm. The government is the largest business house and owns 339 enterprises in 2019. Leave alone the disinvestment of Air India or 23 other enterprises. In 2018, the ownership of private carrier Jet Airways is parked on the balance sheet of public sector banks. The debate is not just about government ownership but about political management. ”
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    To me, a deeply depressing issue is the fact that no government in India, bar none, has taken divestment seriously, with the notable exception of the Vajpayee government. It’s been more of the same before, and more of the same after. Deep sigh.
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  5. Is democracy an end in and of itself, or is it the means to an end?
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Links for 2nd April, 2019

  1. “The growing use of digital transactions—by consumers, investors, tax payers—as well as the rise of newer forms of data collection has the potential to revolutionise Indian public policy. It is unlikely that these newer forms of data will completely replace the more traditional numbers derived from surveys, national accounts and administrative data. They will more likely complement each other. Government agencies will increase their dependence on big data analytics in the coming years—though the risks to individual privacy should not be underestimated.”
    Niranjan Rajadhakshya on big data, data collection, and how we might reach conclusions on the basis of both over time. The papers he mentions towards the end are also worth reading in their own right!

  2. “According to the Handbook Of Statistics On Indian Economy 2016-17, since the 1991 reforms, the Union government’s revenue has increased 25 times and state government revenues have increased 28 times in nominal terms, and about 4 times in real terms. Economic growth and the consequent increase in revenue also increases the ability of the government to focus on inequality and deal with sector-specific distress.”
    The article is about why economic growth is important for poverty alleviation, an as the article itself says, this is both an obvious point, but also one that bears repetition. But the excerpt above was notable for me: obvious in retrospect, but worth thinking about. Government revenues have gone up significantly since liberalization.

  3. “In 2014, the Delhi High Court found both major parties guilty of violating foreign-exchange laws when they accepted a donation from London-based commodities giant Vedanta Resources Plc.(The suit, filed by a former top bureaucrat and the Association for Democratic Reforms, was against the political entities and Vedanta wasn’t a party. The company didn’t respond to request for comment. The BJP and Congress argued the donations weren’t foreign because the Vedanta units that channelled the money were registered under Indian law.)
    The law passed last year changed the definition of a foreign company all the way back to 1976, effectively nullifying the court’s verdict because Vedanta’s overseas parent owned less than 50 percent of the Indian unit.”
    A somewhat depressing, if all too predictable read about campaign financing in India. There isn’t that much more to say  do read the whole thing, though.

  4. “This jellyfish doesn’t mean to brag, but it’s both beautiful and immortal. If it gets sick, or even stressed, it just reverts into it’s younger self so it can get strong and mature again, bouncing between youth and adulthood forever.”
    It’s impossible to choose one particular thing to highlight – please (for a change!) read every single comment. Nature is an impossibly weird thing, and we know far too little about it.

  5. “One of the great sources of leverage is other people. You can get leverage via directing folks to do things (a superpower whose impact I probably underappreciated when running my business solo). You can also get it by making them more effective at doing things.”
    A very long essay, perhaps rambling in part – but a great read nonetheless. About a whole variety of things, but mostly about productivity, I’d say – the self and the organization, both.