Word: palaniappan
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...minor industry built around a comparative evaluation of India and China." This exercise is bound to give the former an inferiority complex. India underperforms China on just about every economic indicator. Its economy is smaller, and its growth rates, while impressive, are lower than China's. When Finance Minister Palaniappan Chidambaram made his budget speech to India's Parliament in February, he noted that the mainland's Finance Minister, during a recent G-7 meeting, "looked in my direction and told the gathering that China had received $500 billion worth of foreign investment since China opened its economy...
When he served as India's finance minister from 1996 to 1998, Palaniappan Chidambaram became known as a forceful economic reformer. After a stint in the political wilderness, Chidambaram returned to his old job last year in a new role: poverty fighter. He spoke to Time's Aravind Adiga in his office in New Delhi...
...Palaniappan Chidambaram wrote a budget of which middle-class Indians still wistfully dream. It slashed income and corporate taxes, encouraged foreign investment, and drove up the stock market. Last week, Chidambaram?Minister of Finance once again?gave India another budget. But this time, the people most likely to call it a dream are a group of Indians who usually have little reason to celebrate: the poor...