Archive for July 17th, 2012

Will India’s fiscal deficit be worse than Greece’s this year?

July 17, 2012

As per IMF’s Fiscal Monitor Update for Jul-12, the answer is yes! Thanks to Manas of Mint for the pointer.

India fiscal deficit at (8.9% of GDP) might just better than Japan (9.9% of GDP) this year. But in 2013, India might top the list with FD at 8.8% of GDP vs. Japan’s 8.6% of GDP.

On India’s Fiscal misfortunes, IMF says:

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Politics of Budget Allocation for Developmental Expenditure…

July 17, 2012

I posted a paper from NIPFP econs on the topic earlier. Here is another one this time from IGIDR econs –  Arun Kaushik and Rupayan Pal. Both point to the importance of politics in allocating development expenditure. However, the results are just opposite.

The first one looks at whether fragmented or single party govts spend more (it is fragmented which spend more). This one looks at the role of political stronghold and does not think fragmentation has a major role:

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Hayek taught freedom and the rule of law drive prosperity….

July 17, 2012

Manhattan Institute organises annual Hayek Lecture.

The 2012 winner was John Taylor.  Here is his speech on the occasion titled as Road to recovery (based on Hayek’s famed book – road to serfdom).

Taylor connects his rule based policies to Hayek’s freedomm ideas which also relied on consistent rules:

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