Weekend reading links – 23.4.2016

A shorter list because of travel.


Sudipto Mundle, member of the 14th Finance Commission thinks that States have vindicated his trust in their fiscal responsibility. I am not so sure that their budgets indicate fiscal responsibility.

An exercise in how not to get people to feel socially responsible.

India signs an agreement – Logistics Exchange Memorandum of Understanding – with the US, hanging fire since 2006.

The National Agriculture Market – e-platform – launched on April 15 – is missing important agricultural markets, for now.

Kunal Singh of MINT is convinced that the dole-addicted middle class is to blame for the ban on surge pricing in Delhi. He is right. Mostly, India is a country of free-riders.

Raghuram Rajan’s interview to ‘Marketwatch’ on the global and Indian economy. Wonder how many critics actually read the transcript?

Is there a plan to grow the economy to a size of ten trillion dollars by 2032?


US bank stocks excel in the game of beating expectations. US stocks surge towards their historical highs.

US regulators propose new rules to regulate executive pay and claw back bonuses. Six regulators have to sign off and the ‘comment’ period ends on July 22.


David Lipton, IMF No. 2 says that China’s debt-fuelled economic growth might be dangerous. Amen to that.

Account Receivables and Shadow banking in China

A Chinese consortium buys American printer Lexmark for USD3.6bn.

The head of Asia-Pacific Sovereign Ratings at Fitch is not sure that he understands China’s priorities. We do. It is growth.

In China, the nation’s largest railway construction wares maker freezes trading on all its bonds due to debt distress.


Fitch warns of risks to big Italian banks as they are called upon to support weaker Italian banks.

General and Global

How Airbnb lost its soul – it is as much a philosophical as a business story.

The lower house of the Brazilian National Congress (‘the Chamber of deputies’) votes to impeach the President.

Saudi Arabia is unhappy with a new American bill that would prosecute foreign officials known to have assisted in the 9/11 attacks and freeze foreign assets.

There is no freeze on oil production and hedge funds that are long oil celebrate Kuwaiti oil workers on strike.


2 thoughts on “Weekend reading links – 23.4.2016

  1. Sir,

    I would like to draw your attention to RBI Governor’s speech which he delivered at NIBM convocation on 20th April in Pune imediatly after his interview with the foreign publication. In the speech he tried to clear the air and settle down the dust created by his comment to Marketwatch interview.

    Link to his speech is here – Title is ” Words matter but so does intent ” https://rbidocs.rbi.org.in/rdocs/Speeches/PDFs/NIBM162216C9315DCE47E8B98806A40C3D720E.PDF

    I read it carefully and found very important comments on page 1 – para 5, 6; page 2- para 2,3,4 and page 3 – para 1 to 4.

    He has tried to balance his comments on the Govt in office, Indian economy and how citizens, media should read the comments by pubic figure and stop drawing meanings from every phrase or word uttered by them.

    Apart this, I hope you may have notice this article by Surjit Bhallaji – http://indianexpress.com/article/opinion/columns/gdp-rbino-proof-required-gdp-debate-rip-2766147/

    He has argued that now the RBI has published the Ministry of corporate affairs -annual audit data of around 2.5 lakh industrial units including the 16,800 odd listed companies and that reflects the Indian economy indeed growing at 7 + rate.
    (Data link https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=36635)

    Therefore, doubting Thomas need to rest the debate on GDP numbers. This data seems to have given the confidence to Dr Rajan on economy.

    Just wanted to submit this for your comments. Thank you


    1. I have gone through his speech. Unfortunately, that was disappointing and unnecessary. He belaboured his points too much and for too long.

      I have also gone through the article by Mr. Bhalla on the GDP. I continue to be a doubting thomas on the GDP growth estimate.

      Liked by 1 person

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