Wage Gap Rising in India, Will Rise Further

The Indian economy may be growing up at a fast clip but it’s not lifting all boats equally. Management consultancy firm Hay Group has put out a new report that the wage gap between managers and clerks is increasing in India. The pay gap multiple between managers and clerks in India is 7.4 in 2007. […]

Is Foreign Aid Helpful or Not?

In an op-ed piece in today’s Wall Street Journal (subscription required), economist Arvind Subramanian questions the wisdom of providing foreign aid to poor countries. In a piece titled Farewell to Alms (borrowing from Hemingway’s famous Farewell to Arms), Subramanian, a senior Fellow at the Washington DC think tank Center for Global Development argues that foreign aid […]

India’s Economy Sizzling

India’s economy grew a scorching 9.4% in the year ended March 31, 2007 up from 9% the previous year, according to the country’s Central Statistical Organization. Taking note of the growth, the Wall Street Journal (subscription required), however, sounded a note of caution over the future. Some economists warned that higher interest rates, introduced to damp […]

India’s Airlines Growing But Losing Money

The New York Times today has a story on how India’s airline industry is growing “at breakneck speed” but having a hard time making money. India’s outdated airports are staggering under the crush of passengers and flights, let alone giant planes, and the arrival recently in Delhi of an Airbus 380 required that the grassy […]