Praxeology: My Reflexions on India

Amidst the ongoing Covid-19 lock down in India, yesterday the prime minister announced continuation of the lock down in its fourth phase in little less restricted mode. More importantly, he also announced an economic stimulus package worth 20 trillion rupees i.e., some 10% of India’s GDP. This package will also include already announced measures as well as RBI’s policies of injecting some 8 trillion rupees in the economy. Although the details of this package will be announced in the coming days, the basic background under which this package will work became clear in prime minister’s speech. While   announcing   this package prime minister said that, Announcing an economic stimulus package for ₹20-lakh-crore (estimated at 10% of the GDP), with a clearly defined leap towards economic reforms that will, in his words, lead to Atmanirbhar Bharat, or a self-reliant, resilient India. He   also   emphasised on achieving self-reliance for the country at a time when ...

Recently I was interviewed by Mr. Ibrahim Susiwala – a Senior Partner, Enwisen Consulting LLP – to discuss myriad of issues like the condition of the Indian and the world economy today, how businesses will survive amidst the Covid-19 chaos, Indian stock market and many other such economic, political and social issues. This interview is in Hindi language to cater the Indian audience. Listen and share it so people can understand what is going on and what is likely coming their way.

After 17 days of lock down in India, the   official figures   for total infections and deaths due to Coronavirus are 6,600 and 228 people respectively. At the   beginning   of this lock down the same numbers were 614 and 9 people respectively. Despite the lock down, infection cases in India have gone up 10  times and deaths 25 times. Regardless of this, Modi government, as usual, has started claiming the success of their draconian lock down. Such kind of response was expected because governments will never admit their failures while taking all the credit for others’ successes. Indian government   claimed   on Thursday: The Indian government on Thursday claimed initial success in its fight against the coronavirus epidemic, saying it would have been hit with 820,000 cases by next week had it not imposed a nationwide lockdown. Prime Minister Narendra Modi’s decision to order 1.3 billion Indians indoors for three weeks in the world’s biggest lockdow...

Covid-19 Pandemic The world is in an unprecedented   lock down   over a threat of a flu virus’s new strain called SARS-Cov-2 that causes a respiratory disease called Covid-19. All the data so far coming suggests that the only group most vulnerable to this disease are very old people with underlying health issues like diabetes, heart surgeries, organ transplant, cancer, hypertension, asthma, tuberculosis etc., which has compromised their immune system, and those young people who also have above mentioned underlying health issues or who are smoking or drinking or doing drug abuse etc. Basically, anyone with a compromised immune system is at risk of dying because of this virus. Worldwide data also suggests that the mortality rate of this pandemic is approximately   0.1%   or even less. All in all, the data coming out so far tells that the virus is benign and not a monster that is out to kill us all. But governments around the world have seized this opportunity and...

The Covid-19 Pandemic has sent the Indian government in a tizzy. Modi government has panicked like anything and without any kind of prior very careful thinking or planning Modi has announced a   21 day lock down   of the whole country of 1.35 billion people. Almost all production processes in the country have either totally shutdown or working at much   lower capacity   now. This means, huge   supply crunch   is coming. Moody’s has already lowered Indian GDP forecast to just 2.5% for calendar year 2020. The actual growth very likely is in reverse gear now.  No one knows how the millions of rural folks are surviving right now, in Modi’s own constituency Varanasi children are forced to   eat cattle grass   with salt and water, and within 3 days of lock down even urban areas are now running out of essential supply of food etc., items because whole supply chain is on a stand still. Amidst this historic lock down, Modi has taken control of all...

Recently the American president Donald Trump was on his maiden visit to the Indian nation state. During his visit to New Delhi, India’s capital, the city witnessed big   communal violence   in which, so far, around   53 people   have lost their lives. Hindu nationalist goons clashed with the Muslim mob. In these clashes, one police constable and one IB (Intelligence Bureau) officer have also died (murdered by the mob). This violence was in the making since the Hindu nationalist Modi government passed the controversial citizen amendment bill coupled with NRC, which many are now fearing will make millions of Indian Muslims stateless. UN Human Rights Commission chair has now   filed an intervention application   against this act in the Indian Supreme Court. CAA and NRC plus the continuing violence in different parts of India have given a   bad name   to India, especially the Modi government. How did this happen in a country which is known for giv...