India’s new Raj(an) | Gavyn Davies
"In India, he believes that the unfair distribution of gains from land and property sales in the 2000s has caused a severe political backlash which now makes obtaining permission for new investment impossibly difficult. He says that the Licence Raj of the 1990s has been replaced by a Resource Raj in the 2010s, in which the supply side has atrophied while the government has tried to subdue political dissatisfaction by subsidising energy and bestowing other costly and inefficient favours through the fiscal system.He is emphatic that the fiscal deficit must be brought down, that cronyism must end, and that the RBI should not be subjected to fiscal dominance by the government. Unfortunately, none of this will he control.More relevant to his new role, his 200...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.