Praxeology: My Reflexions on India

Covid-19 pandemic lock down has devastated the Indian economy. People were expecting the present BJP government to come out and announce some policy that will help the economy come out of this greater depression. Indian prime minister Mr. Narendra Modi few days back announced his new policy of making India a self reliant (Atmanirbhar) country. He said, I see people thinking kaash (I wish) we were self-reliant in medical equipment, I wish we were self-reliant in manufacturing PPE kits, I wish we were self-reliant in defense production, I wish we were self-reliant in manufacturing all that we buy or consume. I see countless such kaash in Indians today. The solution to all this can only come from atma nirbhar Bharat (self-reliant India). Is he right? Should India become self reliant and will doing so make it a super power of 21st century? I examine this policy of Atmanirbhar (Self Reliant) India in my latest economic report.

Praxeology   is a science of human action where we logically spin out all the laws of human action starting from an   a priori   axiom of human action which is apodictic in nature i.e., necessarily true. In this article I am going to use praxeology to understand and then deduce some of the possible outcomes of the on-going border tension between Indian and Chinese nation states. Couple of days ago on the Ladakh border front there was a violent clash between Indian and Chinese troops and now it has been revealed that total   20 Indian soldiers have died   in this skirmish and many more Indian soldiers are likely POW (Prisoners of War) in Chinese prisons. Not only this, terrorist activities in Kashmir valley has significantly increased in recent months and daily   one or two Indian soldiers    and   civilians   are dying there. As if border tension with Pakistan and China was not enough even neighboring Nepal state is now becoming aggres...

I was recently interviewed by Mr. Yohan Tengra of   Anarchy for Freedom India   to discuss the economic fallout of the Covid-19 lock down that the Indian government has imposed since last couple of months. We discussed the following topics: Economic condition of India before the lock down, The main factors responsible for our misery,   The impact of post lock down measures, Problems with Atmanirbhar Bharat & protectionist policies, Don’t blame MNCs, blame the state, Impact of bailout packages on the Indian economy, Risking hyperinflation, Perspectives on India’s labor laws, Is Bill gates really powerful? and What you can do to secure your wealth & future.

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...