Executive Director, International Monetary Fund
Former Chief Economic Adviser, Govt of India
Professor of Finance, ISB (on leave)


122) Blame it on fed and federal government: US bank failures – Europe may see similar troubles – are thanks to monetary/fiscal imprudence. And India should brace for aftershocks. Two analyses

    The Times of India, March 21, 2023

121) Was Adani stock rise really a con? GoI’s ex-CEA & IMF’s Executive Director, India, argues a plausible explanation for the high market valuation was a combination of public capital spending and irrational exuberance

    The Times of India, February 16, 2023

120) How Nirmala ticked all the boxes: Despite poll pressures, FM goes for growth, boosting both investment and consumption

    The Times of India, February 02, 2023

119) A critique of India’s usual critics: The intelligentsia must recognise that political preferences influence their analysis more than they admit

    The Times of India, October 15, 2022

118) The meaning of being fifth: Of all major economies India’s has been the least fiscally boosted and so most resilient now

    The Times of India, September 07, 2022

117) What CJI must prioritise: Rescuing India from being at the bottom 15th percentile of all nations in ease of enforcement of contracts

    The Times of India, July 26, 2022

116) Fuel: Truth about high-tax states – Why Maharashtra, MP, Bihar, Andhra Pradesh, Telangana, Kerala, Bengal can & must cut duties

    The Times of India, May 26, 2022

115) What Shane Warne revealed to us about the mind of a champion

     The Indian Express, March 09, 2022

114) A morality tale starring MSP and you: See how one inefficiency creates a cascade of inefficiencies and who picks up the tab

     The Times of India, December 02, 2021

113) Great subterfuge of a vocal minority: They protect status quo, as the impoverished majority that will benefit big from reforms isn’t heard

     The Times of India, November 12, 2021

112) Q1 lesson: This time it’s better – Economic recovery from pandemic much more robust than that after global financial crisis

    The Times of India, September 06, 2021

111) In stimulus, the helping hand: FM’s policy of guaranteed loans to urban poor is superior to other welfare schemes

    The Times of India, June 30, 2021

110) West cares only about itself: We don’t have to pay any attention to what the West is saying about us

    The Times of India, March 11, 2021

109) Saving lives came first: Economic Survey establishes how India’s lockdown controlled Covid and will help in a V-shaped recovery

     The Times of India, January 30, 2021

108) Why are farm bills opposed? Hostility is based on a discredited economic model that upholds vested interests

     The Times of India, October 06 2020

107) Celebrate, don’t mourn, S P Balasubrahmanyam

    The Indian Express, October 01, 2020

106) Evidence shows that GDP decline is due to COVID-19. Economy is recovering strongly in unlock phase

     The Indian Express, September 08, 2020

105) The government has made its move with the budget. Citizens must reciprocate

    The Indian Express, February 11, 2020

104) To regain age-old economic glory India needs to support both pillars of wealth creation: the invisible hand and hand of trust

     The Times of India, February 01, 2020

103) Towards a $5 trillion economy: Economic Survey shows the way forward, private investment must be a key driver

     The Times of India, July 05, 2019

102) Why the government cannot intervene if Jet Airways fails, or if mutual funds do badly

    The Times of India, May 04, 2019

101) The real issue at hand is not solely of job creation but also of creation of quality jobs

    The Indian Express, March 30, 2019

100) The real bank crisis

    The Indian Express, October 05, 2018

99) Don’t witch hunt bankers: Prevention of Corruption Act must be speedily amended, else decision making will be frozen

    The Times of India, July 12, 2018

98) Why did Centre doubt SC’s CAUVERY ORDER When it was crystal clear?

    The Economic Times, April 03, 2018

97) How to tackle bank fraud: PNB scam should pave the way to reforming the audit profession in India

    The Economic Times, February 19, 2018

96) The Cloning of India’s Public Sector Banks

    Bloomberg Quint, January 27, 2018

95) Our focus was on boards, auditors, and the regulator

     The Mint, October 06, 2017

94) Lessons in Corporate Governance at Infosys

    The Mint, September 06, 2017

93) Time is ripe to reform governance of public sector banks

    The Economic Times, July 14, 2017

92) India Inc is better off avoiding the flawed US practice of unrealistically high CEO compensation. Here’s why?

    The Economic Times, February 17, 2017

91) Focusing on domestic growth

    The Mint, February 06, 2017

90) On a date with data mining?

    The Economic Times, January 26, 2017

89) Demonetisation: Are the poor really suffering?

     The Mint, November 23, 2016

88) Will Black Be Back? Why demonetisation will be revolutionary in India’s fight against corruption

    The Times of India, November 11, 2016

87) Jungle Raj In UP: What do crime data tell us about the record of successive state governments?

     The Economic Times, November 03, 2016

86) If Ratan Tata doesn’t give his successor a free hand, his insecurity may become his worst enemy

    The Economic Times, October 31, 2016

85) Designing your bonus – Why Oliver Hart and Bengt Holmstrom won the Nobel for their work in contract theory

    The Economic Times, October 13, 2016

84) For A Banking Renaissance

    The Times of India, October 06, 2016

83) Who will bell the cat of pseudo-socialism?

    The Times of India, September 12, 2016

82) The teacher who was an RBI governor

    The Mint, September 05, 2016

81) In debt to dynasty

    The Times of India, July 07, 2016.

80) Attacking our heroes: Raghuram Rajan played a spectacular innings but was phased out nevertheless

    The Times of India, June 23, 2016

79) Economic growth & incumbency: How to keep your government

    The Economic Times, June 18, 2016

78) Regulating credit rating agencies

    The Mint, June 08, 2016

77) Evergreening by private sector banks

    The Mint, May 18, 2016

76) Improving governance in banks

     The Mint, March 21, 2016

75) A budget for Bharat

    Indian Express, March 01, 2016

74) Retrieving black money: Stairway to tax havens

    The Economic Times. February 25, 2016

73) Tax Agri income for the benefit of small farmers

     The Mint, February 23, 2016

72) A startup warning

     Indian Express, February 08, 2016

71) Forecasting the next crisis

    The Mint, October 18, 2015

70) Trickle up, not trickle down: Modi must focus on job growth for political success, GDP growth will be a byproduct

    The Times of India, October 13, 2015

69) Leadership: An outcome of nature of nurture?

    The Economic Times, September 28, 2015

68) Consolidation should not be forced by BBB, govt

    Business Standard, August 20, 2015

67) Bandhan bank strikes deal to raise Rs. 1500 crores

    The Mint, July 09, 2015

66) Fix public sector bank capitalisation to stabilise Indian economy.

    The economic times, June 18, 2015

65) Who gains from freedom?

    The Mint, June 05, 2015

64) Money well spent

    Indian Express, March 10, 2015

63) Expert hopes for Banking reforms in Budget

    The Hindu, February 26, 2015

62) Fix the governance of public sector banks

    The Mint, January 07, 2015

61) Public sector bank reforms: How do you move if the cart’s before the horse?

    The Economic Times, January 03, 2015

60) Appointing a PSU bank chairman

    The Mint, Nov 20, 2014

59) Economics loses a creative thinker in Gary Becker’s death

    The Mint, May 06, 2014

58) Good economics is good politics

    The Times of India, October 30, 2013

57) Much more needs to be done

    The Mint, February 28, 2013

56) An advantage in danger of vanishing

     The Mint, February 27, 2013

55) Foreign investors are welcome

    The Mint, February 17, 2013

54) Why taxing the rich more is inefficient

    The Economic Times, 14 Feb 2013

53) Losses from coal block allocation

    The Mint, September 5, 2012

52) Coal in the Earth’s womb, government’s false arguments

    The Mint, August 28, 2012

51) Why research that establishes causality is better than just correlation?

    The Economic Times, August 10, 2012

50) Reason to Suspect Quality of European Financial Stability Facility bonds

    The Economic Times, February 02, 2012

49) Class-action suits will help keeping the company management clean

    The Economic Times, January 21, 2012

48) The dangers of discretionary policy

    The Mint, November 10, 2011

47) Keynesianism rises from the dead

    The Mint, October 27, 2011

46) Two contrasting historical episodes

     The Mint, October 20, 2011

45) Rules vs. discretion in central banking

    The Mint, October 13, 2011

44) Grey hair’s back in fashion

     Financial Express, August 27, 2011

43) Infrastructure holds the key to FDI

    The Mint, August 25, 2011

42) The search for an heir

    Financial Express, August 19, 2011

41) When the tide goes out

    Financial Express, July 19, 2011

40) A new dimension for learning

    The Economic Times, July 13, 2011

39) The global rush to privatise

    Financial Express, July 11, 2011

38) Unlucky PSBs, some lucky farmers

    Financial Express, July 01, 2011

37) Banking lessons from Canada

    Financial Express, June 27, 2011

36) When in doubt, stay out

    Financial Express, May 11, 2011

35) Malegam report to hurt microfinance

    The Economic Times, February 08, 2011

34) More Pain, Less Gain

    Financial Express, January 31, 2011

33) Telangana state: Is there an economic rationale?

    The Economic Times, January 06, 2011

32) The Irish Question

    Financial Express, January 06, 2011

31) Chronicle of a divorce foretold

    Financial Express, December 24, 2010

30) Do labor laws hinder privatization?

   The Economic Times, December 23, 2010

29) Micro finance, macro objective

    Financial Express, November 10, 2010

28) The Nobel and naukri.com

    Indian Express, October 13, 2010

27) Improving Haryana’s land acquisition model

    Financial Express, October 11, 2010

26) Even the Haryana land model is flawed

    Financial Express, October 08, 2010

 25) Give us a bloat-II

    Financial Express, July 30, 2010

24) Give us a bloat-I

    Financial Express, July 29, 2010

23) High-five the future-II

    Financial Express, July 23, 2010

22) High-five the future-I

    Financial Express, July 22, 2010

21) Curbing Corruption

     Financial Express, June 22, 2010

20) How do Central Banks communicate-II

    Financial Express, June 17, 2010

19) How do Central Banks communicate-I

     Financial Express, June 16, 2010

18) What Apple says about innovation

     Financial Express, April 22, 2010

17) When an FI is too big to fail

    Financial Express, April 08, 2010

16) Competition leads to better education

     Financial Express, March 30, 2010

15) Virtuous start-ups

    Financial Express, February 04, 2010

14) The trouble with catching fraud

    Financial Express, January 07, 2010

13) The reputation factor in business

    Financial Express, December 23, 2009

12) Judging the odds correctly

    Financial Express, December 18, 2009

11) The idiot box can emancipate

    Financial Express, December 02, 2009

10) The human dimension of regulation

    Financial Express, November 05, 2009

9) You are 100% wrong on 80% cut-off, minister

    Financial Express, October 21, 2009

8) Will a super regulator be superior?

     Financial Express, October 14, 2009

7) Who accounts for the accountants?

    Financial Express, September 22, 2009

6) Is a super regulator a super idea?

    Financial Express, September 17, 2009

5) Can we sue, please?

    Financial Express, September 07, 2009

4) Will IFRS stop cooking of books?

    Financial Express, August 25, 2009

3) Making AI fly: get the price right

    Financial Express, August 11, 2009

2) Here’s a plan for Air India that works

     Financial Express, August 05, 2009

1) Air India can take lessons from the Alitalia fiasco

    The Economic Times, June 30, 2009