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P Chidambaram

One Rank One Pension (OROP)
India
February 19, 2014
One Rank One Pension Image

The Indian government has come up with the One Rank One Pension (OROP) in what is being seen as a final effort to get the attention of the defence community of the country – at the present moment there are 14 lakh soldiers and officers serving in various capacities in different wings of the national armed forces. There are also in excess of 25 lakh military officers in India who have retired. Incidentally, this has [...]Read More

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The Endeavors of the Finance Minister to Bridge the Widening Current Account Deficit (CAD)
Government, India
November 4, 2013

As per the theory of economics, there are two principal factors of the ‘balance of payments’; namely, the current account and the capital account. Mathematically, the current account can be represented as, (net exchequer on exports minus the investitures in imports) PLUS (Foreign investment earnings minus the investitures made to the foreign investors); i.e., ‘balance of trade’ plus ‘factor income’ plus ‘cash transfers’. The current account balance (CAD) is one of the major yardsticks for [...]Read More

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