It has crippled the country’s economy for a long time to come. In this book, Arun Kumar, the country’s leading authority on the black economy, tells us why Modi’s gambit failed. He shows us the way in which the problem can be rooted out, provided the government has the political will and determination to act.Today, the black economy is estimated to be 62 per cent of GDP—or about `93 lakh crore ($1.4 trillion). Corrupt businessmen, corrupt politicians, and corrupt members of the executive (bureaucrats, police and the judiciary) are responsible for controlling the black economy and enabling its growth. If the black economy were to be dismantled and turned into a part of the ‘white’ economy, the country’s rate of growth would be 12 per cent. If it had not grown the way it has since the 1970s, India’s per capita income today would be approximately `7 lakh per annum ($11,000) and India would become the second largest economy in the world. If the black economy were taxed at current rates, it would generate `37 lakh crore in additional taxes and the union budget would show a surplus of `31 lakh crore instead of a deficit.The failure of successive governments to tackle the problem effectively has been the single biggest obstacle to eradicating poverty. It is the cause of both widespread policy failure and the inability of the nation to improve its living conditions rapidly.

    But recent events remind us of the cracks that have formed: the quality of individuals apart, even the institutional arrangements that had been put in place to preserve the purity and independence of the institution—the collegium, conventions governing the way cases are to be assigned among judges—have frayed. These cracks provide a dangerous opportunity to political rulers to suborn this institution also.Through actual cases and judgments—of subordinate courts, High Courts, the Supreme Court—Arun Shourie enables us to see how frail and vulnerable this ‘last pillar standing’ has become.A judge who by a brazen manipulation of facts lets a prominent politician off … Events and a judgment that let the convicted choose the prosecutor who is to conduct the case against them … Courts that turn a blind eye to life-and-death reforms even as they preoccupy themselves with trivia … Courts that deliver ringing judgments and then do not care to look if their directions are being implemented … Courts that disregard their own judgments on penalizing persons for perjury, for dragging out cases … Courts that do not think through the consequences, even the predictable consequences of their judgments … Judges who prevaricate, who look the other way when some of their own fraternity come under a cloud … A judge who is manifestly unbalanced, judges whose knowledge of the most elementary facts of science is laughable, a judge whose prose even the Supreme Court is unable to comprehend—all of them continue to hand down rulings that affect the fortunes and lives of thousands … Judges who disregard well-settled principles to such an extent that their colleagues are compelled to make their grave misgivings public…And the non-bailable warrants that are issued for the arrest of Anita, Arun Shourie’s ailing wife, for evading summons that were never served, summons that were ostensibly issued for their having built a house that was never built, on a plot they did not own…Through the meticulous examination that is a hallmark of his writing, Arun Shourie leads us through judgments and instances-some hilarious, so many infuriating-and points to things that each of us-judges, lawyers, laypersons like us-can do to retrieve this most vital of institutions.

    It is an insightful account of the larger governance phenomenon in India—coalition politics—as seen through the eyes of one of the chief architects of the post-Congress era of Indian politics.From the inexplicable defeat of the Congress in the 1996 general elections and the rise of regional parties like the TDP and the TMC, to the compelling factors that forced the Congress to withdraw support to the I.K. Gujral government and the singular ability of Sonia Gandhi to forge an alliance with diverse political parties that enabled the Congress to lead the coalitions of UPA I and II, Pranab Mukherjee was a keen observer and an active participant in the contemporary developments that reshaped the course of the country’s political, economic and social destiny.Beyond the challenges, complications and compulsions of coalition governments, this book is also a recollection of Mukherjee’s journey as the Cabinet Minister in the key ministries of defence, external affairs and finance, beginning from 2004. He recounts each of these events with candour—the path-breaking meeting with Henry Kissinger in 2004 that altered the course of the Indo–US strategic partnership, his timely advice to Bangladesh Army Chief Moeen Ahmed in 2008 that led to the release of political prisoners there and the differing views with RBI Governor D. Subbarao on the structure of the FSDC.The third volume of Mukherjee’s autobiography is a sharp and candid account of his years at the helm. It offers the most authoritative account of contemporary Indian politics by one of the tallest leaders and statesmen of our generation.

    On Jawaharlal Nehru's 50th death anniversary, Ramachandra Guha assesses his place in history, and his contribution to the building of modern India and its democratic institutions

    It is also one of the most hotly contested ideas of the twenty-first century. In this book, some of our finest thinkers and writers provide calm, measured insights into the origins, nature, practice and future of Indian nationalism.

    R. Vaidyanathan delves deep into India Uninc. and presents a persuasive case for why the latter is really what is at the heart of our economy, and why any growth story about India is incomplete if that real engine of our growth is ignored. The author argues that the real India story, over generations, lies with the many proprietorship and partnership firms, small manufacturing units, kirana stores, single entrepreneurs and household enterprises. That they are being finally given their due, in this important study, is the result of many years of cutting-edge research, which lays bare the lopsided viewpoints of policy-makers and ‘experts’, and urges a broader vision of the country’s economy. The small entrepreneur says Prof. Vaidyanathan, should prevail over crony capitalism. Scholarly yet accessible, and offering a wealth of information on an uncharted territory, India Uninc. is a must-read for anybody who aspires to understand the Indian economy —as well as India itself.

    R. Ambedkar, Subhas Chandra Bose and Vallabhbhai Patel steered the new nation in a direction that ensured it wasn t destroyed by sectarianism, casteism and authoritarianism. Because their wisdom found widespread acceptance, every time it seemed that the country would succumb to religious hatred, fissiparous tendencies or caste violence, disaster was averted as its leaders and its people stayed more or less true to the values on which the republic was founded. In recent times, however, attempts have been made to discredit these great Indians and devalue their contribution to the modern Indian state. In this thought-provoking book, award-winning biographer and historian Rajmohan Gandhi sets the record straight on the founding fathers as well as their great opponent, Muhammad Ali Jinnah. Along the way, he answers questions of perennial interest Who was really responsible for Partition? Were Gandhi and Ambedkar enemies? Did the Mahatma weaken the country s Hindus? Was he anti-Muslim? Should India have been a Hindu Rashtra? Could the Kashmir issue have been dealt with differently? Would Bose and Patel have led the independent nation better than Gandhi and Nehru? Erudite, forthright and brilliantly argued, Understanding the Founding Fathers will help us know ourselves and our nation, and how we came to be this way.

    The book, The Brink and Back, is an account of the events leading to the path-breaking economic liberalisation unveiled by Rao’s government with Manmohan Singh as the Union finance minister

    Within five weeks, Prime Minister Indira Gandhi declared the Emergency, suspending fundamental rights and imposing press censorship, and soon reckless policies said to be authored by the prime minister's younger son were unleashed on India's citizens. As the country suffered under the iron fist of an elected icon and her chosen heir, Tavleen observed that a small, influential section of Delhi's society people she knew well remained strangely unaffected by the perilous state of the nation. Before long, members of this circle were entrenched in key positions in the Indian government. In 1984, following Indira Gandhi's assassination, Rajiv Gandhi became prime minister, fortified by a huge mandate from a nation desperate for change. But, belying its hopes, the young leader chose for himself a group of advisors, friends and acolytes from the drawing rooms of Delhi, as inexperienced as him and just as unaware of the ground realities of a complex nation. It was the beginning of a political culture of favouritism and ineptitude that would take hold at the highest levels of government, stunting India's ambitions and frustrating its people well into the next century. Seasoned reporter and distinguished newspaper columnist Tavleen Singh's Durbar is a sharp account of these turbulent years. Describing the Nehruvian era of her childhood, the Emergency of her youth and the political shifts that followed, Tavleen writes of the birth and evolution of insurgencies in Punjab and Kashmir, the blood spilt in assassinations and massacres, of crises internal and external and the clumsy attempts to set things right. A remarkable memoir, vivid with the colour of election campaigns and society dinners, low conspiracies and high corruption, Durbar rewards us with this truth: that if India is to achieve a better future the past can no longer be ignored or forgotten.

    It arrived in India by multiple routes—in the south, in the eighth and ninth centuries CE, with traders from Arabia, and in the north, in the tenth and eleventh centuries, with invaders, rulers, and mystics, largely from Central Asia. Once it was established in India, it morphed and evolved through the centuries until it took on the distinctive contours of the religion that is practised here at present. The author takes a clear-eyed look at every aspect of Islam in India today. She examines the factors that have stalled the socio-economic and intellectual growth of Indian Muslims and attributes both internal factors—such as a disproportionate reliance on the ulema—as well as external ones that have contributed to the backwardness of the community. She shows at length, and with great empathy and understanding, what it is like to live as a Muslim in India and offers suggestions on how their lot might be improved. Weaving together personal memoir, history, reportage, scholarship, and interviews with a wide variety of people, the author highlights how an apathetic and sometimes hostile government attitude and prejudice at all levels of society have contributed to Muslim vulnerability and insecurity.Born a Muslim goes beyond stereotypes and news headlines to present an extraordinarily compelling and illuminating portrait of one of the largest and most diverse communities in India.

    Federal Election Commission trust in our government has reached an all-time low. More than ever before, Americans believe that money buys results in Congress, and that business interests wield control over our legislature.With heartfelt urgency and a keen desire for righting wrongs, Harvard law professor Lawrence Lessig takes a clear-eyed look at how we arrived at this crisis: how fundamentally good people, with good intentions, have allowed our democracy to be co-opted by outside interests, and how this exploitation has become entrenched in the system. Rejecting simple labels and reductive logic-and instead using examples that resonate as powerfully on the Right as on the Left-Lessig seeks out the root causes of our situation. He plumbs the issues of campaign financing and corporate lobbying, revealing the human faces and follies that have allowed corruption to take such a foothold in our system. He puts the issues in terms that nonwonks can understand, using real-world analogies and real human stories. And ultimately he calls for widespread mobilization and a new Constitutional Convention, presenting achievable solutions for regaining control of our corrupted-but redeemable-representational system. In this way, Lessig plots a roadmap for returning our republic to its intended greatness. While America may be divided, Lessig vividly champions the idea that we can succeed if we accept that corruption is our common enemy and that we must find a way to fight against it. In REPUBLIC, LOST, he not only makes this need palpable and clear-he gives us the practical and intellectual tools to do something about it.

    The monograph vociferouslydemanded that socialism be sacrificed for a competitive market economic system, so India cangrow at 10 per cent per year, achieve self-reliance, full employment and produce nuclear weaponry.The then Prime Minister Indira Gandhi denounced the plan as dangerous.Fifty years later, Swamy redefines his path-breaking ideas on India-specific economic developmentin his seminal work, Reset. It undertakes a nuanced analysis of the manner in which the highlyprosperous Indian economy witnessed a long, accelerated decline due to persistent British imperialistaggression, and compares the distinctive manner in which Asian giants—India and China—sufferedat the hands of imperialism. He critically analyses the highs and lows of the Nehruvian model ofcentralized economic planning borrowed from the Soviet Union, and the debilitating circumstancesthat impelled him, as Commerce Minister in Prime Minister Chandra Shekhar’s government, todraw up a blueprint for economic reforms.

    Books on the current financial crisis which started in late 2008 are a tad like that. Until now they have tended to deal with certain aspects of the crisis without looking at the bigger picture of what really went wrong. That bigger picture of the ongoing financial crisis has now started to evolve. Easy Money captures this big picture. The history of money and the financial system as it has evolved over the centuries stand at the heart of this endeavor. It explores the idea that the evolution of money over centuries has led to an easy money policy being followed by governments and central banks across the world, which in turn has fueled humongous Ponzi schemes, which have now started to unravel, bringing the whole world on the brink of a financial disaster. The book also explains how the lessons of the financial crisis have still not been learned, and in trying to deal with it, governments across the world are making the same mistakes which led to the current crisis in the first place.

    Tharoor is undersecretary general for communications and public information at the United Nations. He lives in New York City.

    Dent Jr., bestselling author of The Demographic Cliff and The Sale of a Lifetime, predicted the populist wave that has driven the Brexit vote, the election of Donald Trump, and other recent shocks around the world. Now he returns with the definitive guide to protect your investments and prosper in the age of the anti-globalist backlash.The turn of the 2020s will mark an extremely rare convergence of low points for multiple political, economic, and demographic cycles. The result will be a major financial crash and global upheaval that will dwarf the Great Recession of the 2000s—and maybe even the Great Depression of the 1930s. We’re facing the onset of what Dent calls “Economic Winter.”   In Zero Hour, he and Andrew Pancholi (author of The Market Timing Report newsletter) explain all of these cycles, which influence everything from currency valuations to election returns, from economic growth rates in Asia to birthrates in Europe. You’ll learn, for instance:   • Why the most-hyped technologies of recent years (self-driving cars, artificial intelligence, virtual reality, blockchain) won’t pay off until the 2030s.    • Why China may be the biggest bubble in the global economy (and you’d be a fool to invest there).    • Why you should invest in the healthcare and pharmaceutical industries, and pull out of real estate and automotive.    • Why putting your faith in gold is a bad idea.   Fortunately, Zero Hour includes a range of practical strategies to help you turn the upheaval ahead to your advantage, so your family can be prepared and protected.