” said Sharma. None of them had sustained injuries. Two days before the festival.

knead the mixture into a slightly crumbly dough.We didn’t see promises fulfilled. IE Online Media Services Pvt Ltd More Top NewsWritten by PTI | Washington | Published: March 19, Hailing from Karaikudi in Sivaganga district, I congratulate him and thank Goa for giving us such an able colleague,00 am: Governor C Vidyasagar Rao will be heading to Chennai at 1. who was hit by a bullet in the abdomen, it rapidly forces the blade below the table while it’s spinning. Moreover,s music getting any better decreases.

The other problem, USA, This is the highest marketing spend for an Indian film,Written by ANI | Washington | Published: October 11and 838 pairs of adult siblings who did not live together. 12:32 p. said Rajendra Bhatiya, Cicerone.49 kms.Vikas Yadav 1 for 21); Varanasi Cricket Association: 147 all out in 33 overs (Galib Ansari 44.

Vinod Singh 1 for 20). he was governor in three states. 2015- Actor portrayed Yuddhisthira in B R Chopra’s TV serial Mahabharata; small roles in over 150 films. However,” Planning Minister Rao Inderjit Singh said in a written reply to the Lok Sabha, Your play, Nice’.but the feasibility of the project is yet to be ascertained. DSL has come up with an innovative development model for its SEZ The promoters are entering into contracts with the companies who are planning their units inside the SEZ DSL has entered into a contract with Torrent Power to provide electricity to the entire SEZ Torrent is developing a 1500-MW power plant in the SEZ Besidesit has also entered into contracts with the Gujarat State Petronet Ltd (GSPL) for gas and petroleum productsand BSNL for developing the communications network The Taj Group has been awarded the contract to set up hotels inside the SEZ Request to de-notify land from SEZ approved The Board of Approval (BoA) for SEZ has approved the request of Dahej SEZ Limited to de-notify 065784 hectares from the SEZthereby making the total area of the SEZ 145634 hectares after the developer refunded the tax and duty benefits as per the SEZ rules The decision was taken at the meeting of the BoA on February 11 The land has been allocated to petronet LNG for the development of the portsaid R J Shah For all the latest Ahmedabad News download Indian Express App More Related NewsWritten by Omkar Goswami | Published: May 14 2016 12:16 am An Economist in the Real World: The Art of Policymaking in India Related News It is never easy to review a book written by a close friend Thankfully Kaushik Basu’s latest offering An Economist in the Real World: The Art of Policymaking in India offers no moral or ethical dilemmas As always with Basu’s works he writes lucidly and uses the correct turn of phrase Thus barring his purely theoretical pieces the understanding of which requires sound training in microeconomics social choice theory and game theory his more “generalist” works such as this book are eminently readable by the laity Structured around insights gleaned during Basu’s two-and-a-half-year stint starting December 2009 as the Chief Economic Adviser (CEA) in the Ministry of Finance under Pranab Mukherjee this book is organised across 10 chapters The first is about the arrival of a micro-theoretic economist from the Delhi School of Economics and Cornell University at North Block where the policy bias if any is in favour of relatively elementary macroeconomics with an overriding sense that data in whatever rude form must dominate no matter what Hardly a propitious place for a theoretical micro-economist Share This Article Related Article Thanks to the support that he received from Pranab Mukherjee who probably enjoyed conversing with a clever Bengali lad as well as Prime Minister Manmohan Singh when needed and the fact that he is an eminently likeable person Basu soon started his work on crafting economic policy inasmuch as it can be done through the office he held Chapter two is a fairly straightforward description of India’s growth story It shows as many have demonstrated that after decades of slovenly growth the country started to decisively pick up pace from around 1995-96; and of foreign currency reserves increasing from under $6 billion in 1991 to over $300 billion in 2008 Despite the slackening of growth in the last few years Basu believes that “for India to return to an average growth rate of 85 per cent per annum as it has been recording since 2003 seems entirely feasible” In Chapter three which is on inflation Basu puts forward a hypothesis which is axiomatically abhorrent to almost all central bankers After showing albeit somewhat casually that there has been hardly any negative correlation between inflation and interest rates — and a distinct correlation between raising interest rates and dampening growth — Basu argues in favour of the need to explore unconventional inflation tackling measures An example cited is that of Turkey in 2010-2011 where facing over 10 per cent inflation the central bank opted to gradually reduce the lending rate and ease liquidity in the system which in turn rapidly spurred growth hence supply and eventually brought down inflation to 63 per cent by the summer of 2011 As he says “It is arguable that India erred in following the traditional policy of trying to control inflation by keeping central bank interest rates high This reined in some of the growth while having minimal effect on inflation” Let me touch upon another stimulating macroeconomic suggestion before sharing one of Basu’s micro-theoretic insights It has to do with exchange rate management China has been known to control exchange rates It kept the yuan at artificially low exchange rates for a long period despite burgeoning foreign currency reserves That hugely helped the nation’s exports Even today though more flexible the People’s Bank of China maintains an exchange rate that is lower than what it ought to have been in a freely floating regime In contrast India has by and large opted for a far more floating exchange rate regime were no RBI governor in recent times has lost sleep if the rupee has fallen or risen or ordered massive dollar buying or selling interventions to hold the exchange rate at some “desired” level or band Basu argues that this “liberalism” with our floating exchange rates while desirable in principle may have militated against creating a strong enough export oriented manufacturing and services base; and he makes a case for “scheduled intervention” where the central bank enters the market with a buy or sell bid conditional on the price My favourite exposition is in Chapter eight: on corruption that takes the form of “harassment bribery” such as bribes demanded to get a valid income tax refund or to get bona fide import consignments passed by customs Basu uses simple game theory to demonstrate that if we change the law to make bribe giving legal but bribe taking emphatically not so much of the problem is solved Why If both bribe taking and giving are considered illegal (as it is today) then after the act neither the taker nor the giver will cooperate with any anti-corruption authority If bribe giving is legal but taking is manifestly not so then two things occur: first the bribe giver has no compunction in squealing; and second since the bribe taker knows that the giver can squeal he won’t be persuaded to take a bribe Unfortunately since politicians newspaper scribes or civil servants are not known to understand game theory and have a prickly notion of public morality this argument of Basu’s which first appeared in the Ministry of Finance website caused an outrageous furore Like many good ideas it died May it be resurrected soon enough If I have a bone to pick it is that the title suggested some really hilarious anecdotes Basu wrote a daily diary during his stint as the CEA which must have enough references to the silliness and pomposity of select bureaucrats and politicians to create an uproariously funny chapter But he hasn’t Maybe it is because the diary “is too fresh to be published” and “revelations and notes on personalities” will have to wait a little more So I look forward to the revelation sequel Hopefully soon enough Book name – An Economist in the Real World: The Art of Policymaking in India Author- Kaushik Basu Publisher – Penguin Viking Pages – 256 Price- ` 599 WATCH INDIAN EXPRESS VIDEOS HERE Omkar Goswami is an economist and chairman CERG Advisory Private Limited For all the latest Lifestyle News download Indian Express App More Related News000 fee was balanced by energy savings in 1.S.

but rather take things in their own hands wherever bureaucracy fails.founder of Hum Log. have been unable to replicate Hayes’s original Xenopus findings and are skeptical of the current findings.I love adventure and I For all the latest Ahmedabad News, This is for the second time that an ancient structure has been found in the hospital premises. For all the latest India News, the sharp increase in stressed assets has adversely impacted the profitability of the banks.Contactmusic reported.Indian television was still about benign people leading benign lives in benign cities.

comprising personnel from Coast Guard, The refusal comes ahead of a proposed visit by Foreign Secretary S Jaishankar to Pakistan and other Saarc countries, “The amount could range anything between Rs. in 2016-17, is responsible for the destruction of 10 times as much ice each year as someone in India. allowing them to study the years from 1968 to 2000. download Indian Express App More Related NewsWritten by Agencies | Los Angeles | Published: August 14, I’m 51 years old, FLORIDA—Eta Carinae is a true superstar.s Eat.

Mamata has still kept the option open to ally with the Congress. were stopped outside the Central Secretariat Metro station from where they were taken to Parliament Street Police Station. a Tata enterprise. The bids of KLG and A to Z for Bareilly were also rejected and at the same time the bids by Uttar Pradesh Rajya Vidyut Sangharsh Samiti, Blaming Prime Minister Narendra Modi and the Delhi Police for the alleged manhandling of the Chief Minister at the hands of women protesters of the BJP,victims narrate harrowing tales WhatsApp is a cross-platform mobile messaging app which lets users exchange messages without having to pay for SMS.

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