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The Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA) provided much needed, albeit temporary relief to the government on July 31 choosing not to cancel their loan for the US$2.9 billion Padma bridge project.
Nehru’s chequered legacy is used selectively by no less than his own party, the ruling Indian National Congress (INC). Putting an abrupt end to his socialist programs with economic liberalisation policies in 1991, the Congress party nonetheless chose to kick-start its political campaign for the recent Uttar Pradesh (UP) state elections, with Nehru as a poster child.
1991 goes down in history as the year that marked the ideological defeat of socialism in India at the hands of economic realism. There was little choice. India’s economy was in a shambles, with fiscal deficit at an unsustainable 8.5% of the economy and the current account deficit touching 3.5%. With total external debt at US$72 billion, India had become the world’s third largest debtor after Brazil and Mexico.
There is no one perfect way to raise model children I must admit I am terribly scared of leaving my one-year-old daughter alone with my wife. And I blame Yale Law School professor Amy Chua for my paranoia. My little one was born barely three months after Chua horrified the Western world with her parenting […]
For the young activist in Malaysia, idealism has acquired a sheen of pragmatism For much of the month of April, student groups in Malaysia marched in the streets of Kuala Lumpur, demanding the abolition of the National Higher Education Fund (PTPTN), a student loan scheme that the protesters criticised as an exploitative, anti-poor commercial scheme. […]
India allays fears over its latest ballistic missile launch A week after successfully testing its maiden Long Range Ballistic Missile (LRBM) Agni-V, India sought to downplay the regional security implications of the launch by dubbing the missile as a “weapon of peace”. “We were asked to develop a national deterrent as part of a government […]