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What your reserves need to finance is not the total volume of imports but the difference between the dollar value of exports of goods and services and the dollar value of imports of goods and services, i.e., the current account deficit. This figure was $2.9 billion last year. This needs to be...

As a Bengali, I can tell you that Sharada or no Sharada, it will take a very long time to erode Didi's support base. Unfortunately, Bengalis are second, only to the Islamic world, when it comes to belief in conspiracy theories (including many in my family). The more she is exposed, the more many...

So far, ignoring these lunatics, at least publicly, has been the right tactic for Modi. If he starts condemning each one, then for each one that he fails to condemn, the media will go on a frenzy claiming he supports them. The only way to put a stop to this is to slowly demonstrate, by his...

I entirely agree. I wasn't saying you were paranoid, I meant that outside perceptions of a country's safety, particularly travel advisories, tend to be paranoid. I also agree on the need for research, while I enjoy travel, I certainly don't have a death wish (or a desire for an extended term in...

As an economist, I can't understand what you're saying either. What do you mean 'how dollars come to our markets'? If you mean a country can't print local currency and use it shore up foreign reserves beyond a point, I agree. However, in the absence of a balance of payment crisis, i don't see...

Googled it...it looks amazing and it can be visited in April! Thanks

Thanks- I will do a lot of research before I go. In my experience, travel advisories and such, at least, tend to be overly paranoid- but I see your point. As an aside, I still haven't been to Turkey- which is something I intend to correct.

The important part of all of this is that it leaves your government more room for fiscal stimulus when required. In any case China is a very low public debt economy- that's why I believe that suggestions of a Chinese slowdown are premature.

I would love to visit Gilgit-Baltistan. I can't find anything official online about whether Indians are allowed.

Thanks. Any places in particular you would recommend? I need to find destinations that are warm (and accessible) enough to visit in April.

What are your views on unaccompanied (and largely unplanned) travel in Pakistan? I know, I will probably have visa issues but, hopefully, those can be sorted out. I'm not so worried about safety, there are dangers everywhere. However, what about logistics? Is it an easy country to get around...

First, this is good news- for both countries. If nothing else, it's in China's interest that India isn't too reliant on the West for technical assistance. Second, I can assure the Chinese members here that the attitude of the Indian public towards China, by and large, is one of admiration. Most...

To be honest, no one really knows what's going on with the case. The LeT was accused initially. Thereafter, these Aseemanand/Sadhvi Pragya characters popped up. While there is no doubt that they are nasty pieces of work, I don't know if they were the actual perpetrators or just a bunch of...

As someone who works in a sister organisation of the IMF, all I can say is watch out. While my organisation, which is still corrupt and inefficient, has reformed somewhat, the IMF is still run the way it was 25 years ago. I will look up the conditions of this loan, but in general IMF...

What if you had evidence about which TTP commander was behind the Peshawar attack? What if you presented the evidence internationally and that commander was declared a terrorist by the UN, and the US put a $10 million bounty on his head? What if, after all of that, that man roamed freely in...

The visuals are shocking. I wish your country strength at this time. I hope the victims find peace. I hope this is a sign that you are close to winning your war against the TTP and they are getting desperate.

Spectators behaved badly, as spectators faced with defeat from a team from a rival nation often do. The players responded by losing their cool, as players faced with hostile spectators often do. The sporting federation responded by taking action against the players, as they must do. The...

Interest rates were raised to 8% last year when inflation exceeded 10%. CPI inflation is expected to be around 6% in January. A .5% reduction in interest rate is expected by April (if CPI inflation does indeed stay below 6%). The RBI is following an inflation mandate (or so it appears from...

This is a one off reading based on a number of factors. CPI inflation will rise a bit in January to about 6%. So India is, by no means in a deflationary trap. In fact, don't expect a interest rate cut of more than one percent before March 2016. Relative to where we were a year ago, several...

That isn't the worst of it. Many child labourers aren't paid at all. Things are getting better however. We've been on the brink of universal primary enrolment (for primary school age children) for the last few years. In the next decade, this should translate into universal attendance (by the 100...