Page 9 - Ajay Shah

Budget 2018: Hoping for a gap between the populist rhetoric and reality

Population-scale welfare programmes are extremely dangerous in the magnitude of expenditures involved

Mutual funds with feet of clay

The magic of mutual funds lies in their having transparent and liquid assets. However, this edifice stands on top of secondary market trading

How can we deter crime?

Increasing the headcount in the police and the judiciary is an answer, but its opportunity cost needs to be worked out

Principles to guide bank bailouts

Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks

A great churning

Reforms are needed to pave the way for the exit of weak firms so that labour and capital can move to healthy ones

Firms are fearful as uncertainty goes up

We run risk of 2017-19 being consumed by GST just as 2016-17 suffered on account of demonetisation

The task of the MoF

The most important problem of the Indian economy is the retreat of private investment

Does the ordinance solve the banking crisis?

The biggest threat in banking regulation is the pressure within the RBI to hide bad news at banks

Why FRBM failed

Fiscal responsibility legislation that does not constrain the Budget process is irrelevant

How can ARCs help solve the banking crisis?

For an ARC to make sense, it must be a simple private equity fund

Ajay Shah: Note ban's impact in 2017

Everyone is trying to survive the storm but some will falter

What's the meaning of a 250% change, SA annualised?

How much did exports change in the month of Nov? Here are the steps through this must be computed

Ajay Shah: A bad time for a crisis

India got a business cycle downturn in 2012. With demonetisation and weak global conditions, the difficulties have deepened

Ajay Shah: How to make digital payments work

Tech companies should be given membership of the Reserve Bank's RTGS system, which should be operational 24x7

Ajay Shah: A monetary economics view of the demonetisation

Money is the lubricant of the economy; a shock to the money supply disrupts the economy and could lead to recession

Ajay Shah: From despots to institutions

Reliable performance over the long term requires shifting focus from individuals to institutions

Ajay Shah: Eight principles for better regulators

Creating regulators was supposed to combat central planning, but India has often failed in this regard

Ajay Shah: Who will bear the loss?

A mature market economy is one in which failures are swiftly resolved and there is clarity about how losses will be allocated

Ajay Shah: Finance for the poor - Policy, not programmes

Enacting and enforcing the draft Indian Financial Code holds the key to financial inclusion

Ajay Shah: Who is afraid of algorithmic trading?

Instead of fearing technological change, it is necessary to develop capabilities for enforcement against market abuse