articles by Madhavan Narayanan

India

Raghuram Rajan vs Sanjeev Sanyal: While India's unemployment time-bomb ticks, its adviser debates how long the fuse is

Unemployment is the big issue that the opposition Congress party is hitting hard on, especially after the pandemic-linked lockdown sent millions of migrant workers scrambling back home towards their native villages in an already slowing economy.

India

Rajan, Acharya may be off mark: PSU banks need strategy and focus to survive, not privatisation as remedy

The PSU banks' problem is often linked to India's burgeoning fiscal deficit that needs control because pumping taxpayer money into state-run banks is fraught with risks.

Business

Nirmala Sitharaman's COVID-19 package invites social criticism, but she may have more cards up her sleeves

Nirmala Sitharaman's advisers have been speaking of why fiscal prudence is important to avoid India being downgraded from investment grade by global credit rating agencies

Business

Nirmala Sitharaman's first COVID-19 stimulus sheds moral baggage for morale booster, but fiscal puzzles remain

There is plenty to celebrate for MSMEs and other entities covered under Nirmala Sitharaman's first package of details to flesh out Prime Minister Narendra Modi's Rs 20-lakh-crore stimulus

Business

Narendra Modi's Rs 20 lakh crore stimulus blends shrewd geo-economics with Swadeshi-coated booster, but it may not be a panacea for jobs growth

While global investors with their view from a London or New York may look at India as a long-term alternative to China, the Modi government's own close relations with Japan may provide leverage.

Business

Jio Platforms attracting funds from Facebook, Silver Lake, Vista Equity, highlight Mukesh Ambani's digital-era venture capitalist avatar

In the new normal for Reliance Industries Limited, investors in Jio Platforms like Silver Lake and Vista Equity are more like knowledge and network partners.

Politics

Key COVID-19 message for Modi from Rahul-Rajan chat: Build global consensus, listen to experts, save lives and livelihoods

It's clear. Pressure is mounting on Prime Minister Narendra Modi not to extend the second phase of this nationwide lockdown to contain the COVID-19 variant of the coronavirus

Business

Jio emerges as a leapfrogging platform in Ambani's industrial shuffle, aided by trademark financial engineering

Reliance Jio plans to offer new Bollywood releases into broadband-linked living rooms across India. Where will that leave multiplex operators?

Business

Fear vs greed: Stock market crash is a chance for Indian investors to seek considered wisdom amid confusion

Benchmark indices have crashed to levels comparable to 2008 when the world financial crisis hit the markets to lead global markets into what is now called the Great Recession.

Business

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions

Recent days have seen RBI governor Shaktikanta Das pulling up public sector banks for poor credit growth even as Kapoor's Yes Bank shenanigans were simmering in the backdrop.

Business

Pipeline or pipe dream? Nirmala Sitharaman's Public-Private Partnership talk in Union Budget 2020-21 needs a big reality check

When the hype ebbs on the longest Indian budget speech at 160 minutes, questions remain on both quantitative numbers and the administrative detail of the qualitative plans outlined

Business

Budget 2020 needs a Fiscal Operation Twist to balance short-term growth revival with long-term disicipline

A Fiscal Operation Twist may be a formula to get there with enhanced spending in some areas and a clear will to tighten the belt elsewhere.

India

Citizenship Amendment Act: Microsoft chief Satya Nadella's views are modern and progressive, and subtly question new law

A day after Microsoft CEO Satya Nadella termed situation surrounding the Citizenship Amendment Act as "sad", his company on Tuesday issued a far subtler statement on the contentious Act, that conveyed his optimism for an immigrant in India who could benefit the society and economy

Business

Minority stakes count: Cyrus Mistry's NCLAT win in Tata Sons tussle is a significant precedent in refining shareholder democracy in India

The Tata-Mistry ruling should give a sobering message to promoter-driven companies that running a public company through a board involves procedures and practices that go beyond a simple majority-oriented approach

Business

GDP nosedives to 6-year low: Economy needs rooted policy wonks, not supercops with harsh approach to macroeconomics

The NDA government's acts, be it the controversial demonetisation of high-value currency notes in 2016 or the introduction of the IBC, displayed a fetish for a supercop mentality or an obsession with seeing itself as a torch-bearer for a market economy.

Politics

Devendra Fadnavis resigns as Maharashtra CM: With bruised BJP, shaky Shiv Sena, state heads for winter of discontent

The image of Fadnavis as a sincere, straightforward statesman has come under a long shadow, evidently cast by political objects located in New Delhi, not Mumbai.

Politics

None for all, all for power: In Maharashtra's intrigue, principles and governance will be hurt as politicking takes over

Maharashtra Government Formation: Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) is increasingly resembling the Indian National Congress of the 1980s, using the Governor's office and the shifting sands of caste and group rivalries to help itself install as friendly a government as it is possible in state capitals.

Politics

Remembering TN Seshan: Behind that firmness that turned Election Commission into an institution was a softness only few saw

Tirunellai Narayana Iyer Seshan, who passed away on Sunday aged 86, was for many a tough bureaucrat whose sense of authority and occasional rage were legendary.

Business

Narendra Modi has done well to keep India out of RCEP, but WTO-style bargaining for future entry is a good idea

As for RCEP, India must keep its doors open for possible future engagements. For this, RCEP should be viewed as a "mini-WTO" where India can negotiate the details of its entry.