Financial reforms : What should the next government do?

Think India Foundation is setting up a series of TV shows on various aspects of public policy. Percy Mistry, Rashesh Shah, Dhiraj Nayyar and I were on their Financial Policy show, which was shot in English and Hinglish. I was impressed at the quality of the show; I had not thought this possible on television. And, my new ambition is to speak in Hindi like Dhiraj does.

It will air on the coming weekend (22 and 23 March, Saturday and Sunday), as follows:

CNN IBN
Sat – 12pm & 8pm
Sun – 10pm

IBN 7
Sat – 10am & 8pm
Sun – 11am & 6pm

CNBC AWAAZ
Sat – 7:30pm
Sun -1pm

CNBC-TV18
Sat – 8:30pm
Sun – 8pm

ETV UP, ETV MP and ETV Bihar
Sat – 6pm
Sun – 5pm

ETV Rajasthan and ETV Urdu
Sat – 5pm
Sun – 5pm

CBI preliminary enquiry on MCX-SX becoming a stock exchange

• CBI doesn't seem to know the SEBI order signed by K. M. Abraham on 6 September 2010 which rejected the application by MCX-SX to become a stock exchange. This roadblock was removed through a Bombay High Court decision by Justice Chandrachud on 16 September 2011 followed by something which happened at the Supreme Court on 11 April 2012.
• An interview with C. B. Bhave.
• N. Sundaresha Subramaniam in Business Standard tells us more about the 2008 event.
• See this story by Shaji Vikraman in the Economic Times today.
• Commentary by Dhiraj Nayyar and R. Jagannathan. 
• Raghuvir Srinivasan in the Hindu.
• Mobis Philipose in Mint.

This is a good time to ruminate on the notion that CBI or Lok Pal should have independence. Underdevelopment is where the police are more dangerous than the criminals. Coercive power coupled with independence is a recipe for trouble. What is needed is far more thinking on how to do sound public administration, on the right mix of independence and accountability. Anger about corruption is not a useful source of good thinking in public policy.

This is also a good time to ruminate on the lack of rule of law in the determination of fit & proper.

Human capital will fuel high Indian GDP growth for the coming 40 years

In a recent column in the Economic Times -- My generation -- I argue that the outlook on human capital in India is bountiful for the coming 40 years.

12th research meeting of the NIPFP-DEA Research Program (correction)

The 12th Research Meeting of the NIPFP-DEA Research Program will take place at the India Habitat Centre in Delhi on 13 and 14 March.

The program design is up on the website.

The previous post which stated this had a mistake on the URL. Please ignore it.