Uncle Scrooge's Economics

Number 18 and 19 Kensington Palace Gardens had once housed the Russian and Egyptian embassies. It was David Khalili, the Iranian-born Jewish property developer and renowned Islamic art collector, who turned the two dilapidated buildings into one of the most remarkable houses in London. The 55,000 square feet of floor space included 12 bedrooms, a ballroom, a picture gallery, parking for 20 cars, Turkish baths, and a jeweled swimming pool in the basement. Declared as the most expensive house in London from 2008 until 2012, Kensington Palace Garden holds the title of the 3rd most expensive house in London. Surely, Mr. Jamshed Ji Tata was known as the steel man of India, but this man is known as the steel king of the world. A man who loves to take out his Mercedes when in town. A man who only travels in his private jets. A man who wears suits tailor-made by Versace and is shy when it comes to flaunting his Patek Phillip had very humble beginnings. The story of this steel king is an epitom...

From the moment I began reading about different Indian companies and Indian entrepreneurs, I have discovered several commonalities, the most notable of which is the involvement of three communities in the development of the Indian economy and business environment. These three communities are the pillars on which our economy stands. They are stronger than elephants, smarter than foxes, and faster than eagles in terms of work execution. These three communities have marked their presence in almost every sector that we are familiar with. Steel, telecom, cement, textiles, paints, automobiles, electricity transmission, e-commerce, fashion, and media. Whatever it is that they do, you will find them among the top 3 players in the industry. These communities collectively employ 60% of the Indian workforce, contribute more than 52% to corporate tax, donate almost 62% to charitable causes, and are the majority spot holders on the Forbes rich list, yet they are one of the simplest and most down-to...

I highly believe in this statement: "One person can change your life. For good or for bad." Either way, he or she can. From being one of the five bankrupt nations in 2014 to being the world's 5th largest economy, India has come a long way. All of this was possible only because of nation-first policies and a nation-loving government. Yes, this blog is going to be a little biased, but I will make sure to present only facts. I started this blog page by writing about the LPG policy of 1991. If you have read the blog carefully, you will be aware of the fact that India was one week away from declaring bankruptcy in 1991. Our forex reserves were almost negligible, leading us to beg for a loan from the IMF to pay off our import bill. How is it possible that a nation with 83 crores of population and an average tax rate of 40% was unable to pay off its import bills? What will we call this? corruption or mismanagement of funds?  Thankfully, this is not the picture anymore. Indians a...