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...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...
...launch a direct assault on poverty and unemployment." He then earmarked $5.7 billion for a series of programs aimed at bolstering education, infrastructure, housing, nutrition and health care, especially in India's villages, where the bulk of poor Indians reside. Chidambaram, a Harvard-educated lawyer who is the stock market's favorite Finance Minister of all time, did not ignore the middle class: he cut and streamlined taxes. Yet the thrust of his budget was aimed at the poor. Among his new proposals: a plan to extend irrigation to 10 million hectares of agricultural land over five years?a move...
...already achieved something important: it had none of the socialist rhetoric of the past. Chidambaram has increased spending on the poor without punishing the middle class and rich, and has hence shown that fighting poverty and keeping India's economy booming need not be contradictory goals. Indeed, the Bombay stock market shot up 2.2% on the day of his speech...
Corporate gifts saw modest gains in 2004, rising 3.5 percent, which the survey attributed to “moderate recovery in the stock market.” Contributions from foundations, however, dropped 6.1 percent...
...that was only Stage 1. When the dotcoms started going bust, Ideo adapted its business model. Instead of cool products, Kelley began to focus on processes--like streamlining admission into hospitals or new ways to stock supermarket shelves. Ideo transformed itself into a highly unconventional business consultancy--taking clients on bizarre field trips or making them dress up as customers--that spread the gospel of design thinking to corporate America. The CEO of Procter & Gamble, for instance, was once sent shopping in San Francisco's low-rent Mission District, while top executives from Kraft were taken to the traffic-control...