Gandhi on liberty

On Gandhi jayanti, some Gandhian thoughts:   "Government that is ideal governs the least. It is no self-government that leaves nothing for the people to do".   “[Government] control gives rise to fraud, suppression of truth, intensification of the black market and artificial scarcity. Above all, it unmans the people and deprives them of initiative, […]

FDI is merely one per cent; the tip of the iceberg of reforms needed in India

Came across an article by article by Sajjid Chinoy of J.P. Morgan that outlines the benefits of FDI but also points out (rightly) that this is only the tip of the reform imperative. Take the case of multibrand FDI. With food inflation averaging a staggering 10 per cent over the last seven years why haven’t we seen a supply response? Put differently, if the terms of trade have finally turned so decisively in favour of agriculture — and away from industry — why haven’t we seen more investment? […]