Titbits: Identity Politics; The EPZ sector: still fumbling; Zone d’Education Prioritaire (ZEP): Have we passed? ; Financial Times (FT): Lotto and Household Debt

Identity Politics

Today as the millennium heads towards its adolescence, it will be worthwhile to mark a pause and think hard on the Vicar-General criticism, in the context of his New Year’s message, of the “ rodère ek donère boute” syndrome present in our system. Should we be surprised that our whole system has degenerated to nothing but rodères boutes. Have we not tolerated, even encouraged them?

Titbits: Et tu Brute!!! ; Yellow Fever; Joint Management of Tromelin ; Stimulus Package Demystified; Purchasing power –Rs 420.

Et tu Brute!!!

There may be some sense in the theatricals of the Directors of our prestigious Central Bank (CB) -- making their show on the pavements of our Wall Street. But with a Deputy Governor leading it, it was much more than third-grade street drama. Et tu Brute, you seem to be leading the wrong flock of monetary policy neophytes who have morphed into potential sources of conflicts and giving rise to substantial governance issues -- the very ones who supported by their high-command are convinced that they have enough of angst to display it publicly. The former governor of the Reserve Bank of South Africa Tito Mboweni disagrees and he reminds us that “central banks are special institutions, almost as special as the judiciary, and their independence must almost be elevated to the same level as that of the judiciary.”

Unlocking the Budget Figures

This last budget of this government needs to be put in its proper context; it is its fourth budget that had as precursor the 2006/07 Budget which promised to usher in a new socio-economic model centred on global competitiveness to return the economy to higher growth paths and full employment.  This involves a transition from the obsolete and counterproductive preference-based development model to an environment of fully liberalized trade where no activities, be it for export or for import, are shielded from international competition.

The Budget’s tricky tricks

After the lukewarm reception that the Budget obtained from the majority in the National Assembly compared to last year’s hurrahs and thumping that accompanied the more juicier bits, it needed something quite original to cheer up spirits. To some extent, this was provided by the PM’s intervention. He tried to put on a brave face given the rough road ahead; but he did distance himself somewhat from the dole outs of the Additional Stimulus Package to big business without meaningful conditionalities, aware that despite all his efforts this budget cannot win support among Labour’s rank and file and the public that is increasingly disenchanted with  the TINA ( There Is No Alternative) policies.

Amendments in the Finance Bill

The sessions of the National assembly were drawing to a close and we got quite a glimpse of our dear representatives fumbling for answers when questioned closely about their deliverables and ultimately delivering so little. We were getting quite exhausted with persistent requests, that were not entertained, for commission of enquiries ( given the crisis, we cannot expect Government to be allocating scarce funds for all kinds of enquiries, do we !!)  ;

The Upturn : restrained,fragile and patchy

One year after the financial conflagration that devastated Wall Street and burned financial institutions around the globe with a credit binge that brought us the credit crunch, the world economy seems to be shifting gears. It has gone from reverse to neutral. US President Barack Obama caught the mood at the Group-20 Pittsburgh Summit last month saying “because of the bold and coordinated action that we took millions of jobs have been saved or created, the decline in output has been stopped…”.

Titbits: Labour Market Flexibility, Depreciation of the rupee, Inflation and The pitfalls of a passive approach

Labour Market Flexibility

You must have caught sight of the “Artworks” produced at strategic places by the temporary workers recruited under the Tourism Fund. These workers are under a one year contract and have been recruited to supplement the work already being done by others. The TINAwallahs have rushed in to claim that it is our flexible labour laws which have helped to create jobs, even in a recession. They had first of all, without much of evidence, but with lot of conviction in their neoliberal economic order, questioned the efficiency of the welfare state labour market institutions. They had pushed for the hire and fire employment laws but with a logic that lacks sufficient basis.