Prediction Time —RSJ In a year when countries as diverse as India, the United States, the United Kingdom, Russia, Taiwan, Pakistan and Palau go for their elections, it is tempting to go for an overarching theme for the year while looking ahead. Unfortunately, like these aforementioned elections and the many others that will see about 50 per cent of the human population exercise their democratic choice, there seems to be only a messy mix of political signals emerging from them. Illiberal forces a...
Jan 14, 2024•23 min
Happy New Year — RSJ Happy 2024, dear readers! We hope 2023 was good for all of you. If it wasn’t, we are glad that it’s behind you. We didn’t have too bad a 2023 ourselves. This newsletter went along swimmingly (or so we think) and we had our book ‘ Missing in Action: Why You Should Care About Public Policy ’ published on 23 January 2023. Why haven’t you bought it yet? Anyway, it seems to be doing well based on the modest expectations we had of it. I’m yet to see the pirated versions of it pedd...
Jan 07, 2024•26 min
India Policy Watch #1: Like a Kid in a Candy Store Insights on current policy issues in India — Pranay Kotasthane In the previous edition, I asked you to name your favourite sports policy to date. I don’t have a great answer myself. Nevertheless, my candidate would be liberalising FDI in retail. When posed with such questions, we often get anchored to the way governments are organised. The best sports policy can only be made by the sports ministry; the best education policy can only be made by t...
Dec 18, 2023•8 min
Course Advertisement: Admission to Takshashila’s Graduate Certificate in Public Policy (GCPP) programme is now open. Start your 2024 with a course that will equip you with the tools to understand the world of public policy. Check all details here . India Policy Watch: In Search Of Growth Current policy issues in India — RSJ A quick macro update. The RBI’s Monetary Policy Committee (MPC) met this week and, as was widely expected, kept the repo rate unchanged at 6.5 per cent for the fifth consecut...
Dec 11, 2023•15 min
Read the full text here . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Nov 27, 2023•18 min
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Sep 24, 2023•22 min
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Sep 24, 2023•21 min
Full text here . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Sep 24, 2023•23 min
The full text is here . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Jul 30, 2023•26 min
The full text is here . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Jul 30, 2023•21 min
Read the edition here . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Jul 02, 2023•23 min
Read the edition here . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Jul 02, 2023•14 min
Financial Regulation of Private Firms + Emigration of Indian Talent This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Jun 13, 2023•22 min
India Watch #1: Of Protests and Perfect Tricks Insights on issues relevant to India — RSJ For nearly a month now, some of India's top wrestlers, who between them have earned over 25 medals in various global competitions, have been protesting against the conduct of the Wrestling Federation of India (WFI) chief and BJP MP Brij Bhushan Singh. This is not an ordinary protest. The allegations in the FIR against Singh are quite serious, including a couple of instances of demanding sexual favours as a ...
Jun 13, 2023•23 min
Being Pragmatic about ESG Norms, Lessons for India's Semiconductor Strategy, and Challenging Common Wisdom about India's Constitution-making. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
Jun 13, 2023•19 min
India Policy Watch #1: Silly Season Is Upon Us Insights on issues relevant to India — RSJ Late on Friday this week, the RBI issued a circular withdrawing the circulation of ₹2000 denomination banknotes. The RBI clarified that these notes would continue to serve as legal tender, so this isn’t another demonetisation. Here’s the Indian Express reporting : THE RESERVE Bank of India (RBI) Friday announced the withdrawal of its highest value currency note, Rs 2,000, from circulation, adding that the n...
May 28, 2023•24 min
Global Policy Watch: Much Ado About De-dollarisation Reflections on global policy issues — RSJ This week, Donald Trump urged Republican lawmakers to let the U.S. default on its debt if the Democrats don’t agree on massive budget cuts. Trump likened the people running the U.S. treasury to ‘drunken sailors’, an epithet I can get behind. Default is not something Janet Yellen, the U.S. Treasury Secretary, can even begin to imagine. As CNBC reported, Yellen chose strong words to express her views if ...
May 28, 2023•20 min
Global Policy Watch: Chronicle Of A Crisis Foretold Reflections on global policy issues — RSJ A major state election (Karnataka) is coming up this week. But there’s hardly anything worth analysing. The Congress seemed to have a slight edge in the early opinion polls, but that’s wearing thin. The BJP, always with its ears to the ground, has cranked up its poll machinery in the last couple of weeks drawing upon the star power of the PM in the urban areas of the state. The friendly media houses hav...
May 09, 2023•24 min
India Policy Watch #1: How Not to Let the Opportunity Slip Away Insights on issues relevant to India — RSJ A strange thing happens when you are away on a break. One week you are sitting and wondering how many different things you can write about because of the flurry of events around you. US banks getting into trouble, Rahul Gandhi being denied bail, more curbs on US companies doing business in China, frenetic moves in semiconductor politics - you get the picture. And then you take a break. And ...
May 09, 2023•28 min
India Policy Watch #1: Don’t Concentrate Insights on issues relevant to India — RSJ In one of the recent editions on the Hindenburg short-selling saga, I had written about how easily the Adani group had spread itself into a diverse range of sectors. The group was highly leveraged because it was so keen on getting into newer sectors and then winning bids in them with metronomic efficiency. Generally speaking, it is difficult to run a conglomerate of different businesses. You might argue that each...
Apr 03, 2023•20 min
India Policy Watch: Those Mind Games Insights on issues relevant to India — RSJ Regular readers might have noticed the absence of posts analysing the political economy and politics in general in our editions of late. This isn’t intentional. There’s not much to write about. There is a strange sense of stasis all around. Every move, every act is a chronicle of a future foretold. This inertness stems from a complete absence of ferment in the political landscape. The external factors that could impa...
Mar 27, 2023•23 min
Global Policy Watch: Bailout Pe Bailout Pe Bailout Insights on global policy issues relevant to India — RSJ Where do I start this week? Maybe with a spot of self-promotion. Pranay and I were guests on the popular Hindi podcast Puliyaabazi . I have been a long-time fan, so it was nice to be a guest there. Pranay usually co-hosts this with Saurabh and Khyati, but this time, he was on the other side. I felt a bit like Uday Chopra, who is only in the film because he is the producer’s brother. Anyway...
Mar 19, 2023•19 min
Global Policy Watch: Accident Ho Gaya Insights on global policy issues relevant to India — RSJ I must admit there are times when I have made a big deal about writing this newsletter. Not about the content, mind you. I’m not that vain yet. But the regularity of it all. Getting about 4000 words out between the two of us every week isn’t trivial stuff. But then there are weeks I ask myself if it is really a big deal. I mean, there are weeks when there’s so much happening in policy, politics and mac...
Mar 12, 2023•26 min
India Policy Watch #1: Why We Don’t Care About Growth Insights on burning policy issues in India — RSJ Earlier this week, Pranay and I recorded an episode with Shruti Rajagopalan for her podcast Ideas of India . I have been following Shruti’s columns and the podcast for a while now, and I will recommend you subscribe to both her podcast and her newsletter. She’s always insightful, curious and uses first principles to probe issues. This means you cannot get away with the usual stock answers. One ...
Mar 05, 2023•23 min
India Policy Watch #1: What Do Successive Defence Budgets Reveal? Insights on burning policy issues in India — Pranay Kotasthane (An edited version of this article was published in Hindustan Times on 13th Feb) Another defence budget zoomed past us on Feb 1. Since then, analyses have focused on how the defence spending for the coming year departs from the last year. Some have waved a red flag as defence spending has fallen below 2 per cent of GDP for the first time in many years. On the other han...
Mar 05, 2023•26 min
India Policy Watch: Passing the Burden Insights on burning policy issues in India — Pranay Kotasthane As Wilson’s Matrix tells us, concentrated benefits (costs) trump diffused costs (benefits) on most occasions. Organising people around diffuse interests is difficult. As a political articulation of these voices is difficult, they are consigned to being a background hum in the cacophony of politics. One such diffused interest group is the future generation. Apart from the common difficulty that a...
Feb 26, 2023•14 min
We turn 200 editions old today. It has been fun. Thank you for giving us your time. You can do without another self-congratulatory mail in your inbox. So, let’s get moving on with a nod to this classic line of Majrooh. मैं अकेला ही चला था जानिब-ए-मंज़िल मगर लोग साथ आते गए और कारवाँ बनता गया I had set out on this journey all by myself Others joined, and it turned into a caravan India Policy Watch #1: Decoding Our Maladies Insights on burning policy issues in India — RSJ Tell me the conspiracy the...
Feb 13, 2023•19 min
India Policy Watch: Our Week With Adani Insights on current policy issues in India - RSJ That was an eventful week in India. In the last edition I had written these lines on the ongoing Adani saga that have now come back to bite me: “The FPO might struggle a bit to sail through. But that amount is a chump change for the group. A week or so of volatility, some questions from regulators, a few lawsuits, some strategically timed PR events and the group will be done with this kerfuffle by February. ...
Feb 09, 2023•16 min
We have a book out. Already bought it? Good. It makes for a great gift too. Ship it to your friends. Here’s the helpful link . Now curl up for a long Sunday edition. India Policy Watch #1: The State and Capital This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com...
Jan 29, 2023•32 min
India Policy Watch #1: Fertility 2.0 Insights on current policy issues in India — RSJ First, the good news. “India may have already surpassed China as the world’s most-populous nation in a milestone that adds urgency for Prime Minister Narendra Modi to create more jobs and ensure the country sustains its world-beating growth. The South Asian nation’s population stood at 1.417 billion as of end 2022, according to estimates from the World Population Review, an independent organization focused on c...
Jan 22, 2023•24 min
