A cut in the right direction

Give Given half a chance, most Indian reformers point to China's growth outperforming that of India. But not one of these growth critics (including experts from the IMF, senior Indian finance professionals, senior government officials and the RBI!) has pointed out that the average all tax-GDP ratio in India is now very high (around 18-19 per cent), whereas the average for East Asian economies is around 13 per cent, and that of China around 15 percent. A low taxation ratio helps higher growth and productivity. The GST cut, along with the February income tax cut, is likely to reduce India's tax-GDP ratio to around 15.5-16.5 per cent (close to China's!) and for this reason alone is a very positive move.

DISCREET CHARM OF POTHOLES

There are 'familiar potholes', the ones I know like old friends, though not the kind you'd wish to see every day.

They've been around forever, ignored by the public, neglected by the government and invisible to all but those who traverse them constantly. They are familiar because they refuse to vanish, having existed long enough to fade into the city's background hum, almost as if silently mocking me.

The gift of Athena

For Mokyr, knowledge is not simply a tap that can be turned on by getting the incentives right - as if increasing demand or payments will automatically generate a response.

Knowledge is not just another input where greater demand produces higher supply. In another book, The Lever of Riches, he put it dramatically: Necessity is not the mother of invention; one must also account for the capacity to respond to necessity. Knowledge economies are more difficult creations more mysterious and more wondrous.

WHEN A TREE DIES

One doesn't know how to console someone who's lost a plant. To import the words one uses for the loss of a human would feel like parody, perhaps even sarcasm. There are no rituals -no abstention or withdrawal, no time cycles of purification.

Before closing the US trade deal

India must guard against last-minute negotiating stratagems, protect its freedom to manoeuvre, promote national interest and autonomy.

Red carpet, red flag

Signals sent by Taliban Minister Muttaqi's visit to Deoband have disappointed many in the country.

Can't rely only on government

In recent years, Prime Minister Narendra Modi has emphasised enhancing India's preparedness in areas like artificial intelligence, semiconductors, quantum computing and green tech. The PM devoted considerable time to these issues in his Independence Day address this year. He insisted that every sector MSMEs, education, healthcare, transport, agriculture - needs modernisation and innovation. He argued that self-reliance in technology, including deep tech, is essential for national security and strategic autonomy. He cautioned that excessive dependence on foreign technology weakens the nation.

Wake up, smell the chai

India, along with China, is where the story of tea began. Yet, for a country that's the world's second largest producer of the brew, Indian tea has struggled to become a global brand. ADRIJA ROYCHOWDHURY on how India's signature brew hasn't had its coffee moment yet.

RBI's gold pile tops $100 bn on surging prices

A India's Gold reserves crossed the $100 billion mark for the first time, according to the Reserve Bank of India's latest foreign exchange reserves data, buoyed by a global price rally even as the central bank's purchases slowed sharply this year.

Amid price surge, should you buy new or exchange old gold?

He is right. Higher gold imports widen India's merchandise trade deficit, which means India has to pay more in foreign currencies than what it receives for its exports. A widening of this deficit weakens the Indian rupee, which makes foreign goods and services even more expensive. And gold is a big factor when it comes to these trade dynamics.

Rising CO2 levels

Carbon dioxide concentrations increased by a record amount between 2023 and 2024. Man-made activities like burning of fossil fuels, and natural variabilities in CO2 loop led to this unprecedented rise.

Muttaqi's Deoband visit: driven by personal connection & religious diplomacy

Afghanistan Foreign Minister Amir Khan Muttaqi's visit to the Darul Uloom seminary in Deoband, Uttar Pradesh last week can be seen from the prism of "religious diplomacy". Sources said that New Delhi facilitated the visit upon receiving a "request" from the Taliban leader who left India on Thursday after an unprecedented eight-day trip.