Rahul Basu - Academia.edu (original) (raw)
Papers by Rahul Basu
Indian money market in a deregulated environment, 1993
It is quite clear that securitisation will be a major source of resources for the financial insti... more It is quite clear that securitisation will be a major source of resources for the financial institutions in the years to come. Securitisation induces 'efficiency in the financial system by forcing lending to take place at market rates. It also forces recognition of interest rate risks, which were not significant in the regulated environment of the past. Investors with differing risk appetites and cash flow needs can be accessed, thereby increasing the access to the savings of the economy. Finally, there is focus on the various cost elements in the financial system, which will
eventually reduce the cost structure of the economy as a whole. There is a lot to be gained if the financial institutions resolve the various legal and tax issues.
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Ecology, Economy and Society–the INSEE Journa, 2020
As in the Karnataka (SPS & Ors vs State of Karnataka & Ors. [2013]) and Goa illegal mining cases... more As in the Karnataka (SPS & Ors vs State of Karnataka & Ors. [2013]) and
Goa illegal mining cases (Goa Foundation vs UOI & Ors [2014]), the
question of implementing the intergenerational equity principle arose in the
Odisha illegal mining case (Common Cause vs UOI and Ors [2017]). In the
judgment on the latter case, the Hon'ble Supreme Court of India (SC)
discussed the intergenerational equity principle at some length, expressed its
dismay that the existing mineral policy “seems to be only on paper and is
not being enforced perhaps due to the involvement of very powerful vested
interests or a failure of nerve” and directed the union government to
announce “a fresh and more effective, meaningful and implementable
policy”.
This conversation on balancing stakeholder concerns in the National
Mineral Policy 2019 stems from the concluding sentence of the Policy,
which envisages implementation through a “national consensus among
various key stakeholders”. This is a change from the earlier National
Mineral Policy 2008, which only mentioned a national consensus.
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The public trust doctrine makes natural resources a part of the commons, owned equally by all, an... more The public trust doctrine makes natural resources a part of the commons, owned equally by all, and legally owned by the state. The resources and opportunities that the present generation have inherited must be available to future generations in perpetuity. In the Goa mining
case, the Supreme Court wanted to implement intergenerational equity on the grounds of the exhaustion of the iron-ore reserves as well as the widespread damage to the Goan environment and social fabric.
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Minerals are a commons, held by state governments in public trust for the people, especially for ... more Minerals are a commons, held by state governments in
public trust for the people, especially for future
generations. With mining, states dispose of minerals for
money, and have so far lost more than half their value.
As this study shows, over the last eight years of iron ore
mining in Goa, each family of four in the state has lost
the equivalent of Rs 13.51 lakh, while the average Goan
private household’s assets are estimated to be Rs 10.44
lakh. This is catastrophic.
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Hartwick’s rule says that as mineral resources are extracted from the ground, investments in prod... more Hartwick’s rule says that as mineral resources are extracted from the ground, investments in productive assets need to be made to leave future generations with as much assets as the present generation. This article examines whether mining in Goa meets Hartwick’s rule, and finds that the state government captures only a small fraction of the value of the iron ore extracted from mines it has leased out. It also finds that most of the value of the iron ore is cornered by mining leaseholders,
resulting in a significant redistribution of wealth from the poor to the rich. It points to national and sub-national entities
that follow Hartwick’s rule, and says there are many best practices that can be easily adopted by India.
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This article critically examines the capacity available at Dabolim airport, and the varius reason... more This article critically examines the capacity available at Dabolim airport, and the varius reasons put forth for Mopa. None of the reasons hold up to scrutiny.
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This article examines various public information about the Indian Navy's air wing, especially in ... more This article examines various public information about the Indian Navy's air wing, especially in the context of Dabolim airport. The new naval airport at Karwar and the ongoing expansion at Belgaum can easily take up the entire naval operations at Dabolim
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This article argues that the traffic projections for Mopa are fanciful. There are no real action ... more This article argues that the traffic projections for Mopa are fanciful. There are no real action plans to convert them to fruition. Mopa seems to be following the "build it and they will come" strategy. Given the long history of failed airports around the world, this can be an extremely wasteful path for Goa
Bookmarks Related papers MentionsView impact
Bookmarks Related papers MentionsView impact
Bookmarks Related papers MentionsView impact
Indian money market in a deregulated environment, 1993
It is quite clear that securitisation will be a major source of resources for the financial insti... more It is quite clear that securitisation will be a major source of resources for the financial institutions in the years to come. Securitisation induces 'efficiency in the financial system by forcing lending to take place at market rates. It also forces recognition of interest rate risks, which were not significant in the regulated environment of the past. Investors with differing risk appetites and cash flow needs can be accessed, thereby increasing the access to the savings of the economy. Finally, there is focus on the various cost elements in the financial system, which will
eventually reduce the cost structure of the economy as a whole. There is a lot to be gained if the financial institutions resolve the various legal and tax issues.
Bookmarks Related papers MentionsView impact
Ecology, Economy and Society–the INSEE Journa, 2020
As in the Karnataka (SPS & Ors vs State of Karnataka & Ors. [2013]) and Goa illegal mining cases... more As in the Karnataka (SPS & Ors vs State of Karnataka & Ors. [2013]) and
Goa illegal mining cases (Goa Foundation vs UOI & Ors [2014]), the
question of implementing the intergenerational equity principle arose in the
Odisha illegal mining case (Common Cause vs UOI and Ors [2017]). In the
judgment on the latter case, the Hon'ble Supreme Court of India (SC)
discussed the intergenerational equity principle at some length, expressed its
dismay that the existing mineral policy “seems to be only on paper and is
not being enforced perhaps due to the involvement of very powerful vested
interests or a failure of nerve” and directed the union government to
announce “a fresh and more effective, meaningful and implementable
policy”.
This conversation on balancing stakeholder concerns in the National
Mineral Policy 2019 stems from the concluding sentence of the Policy,
which envisages implementation through a “national consensus among
various key stakeholders”. This is a change from the earlier National
Mineral Policy 2008, which only mentioned a national consensus.
Bookmarks Related papers MentionsView impact
The public trust doctrine makes natural resources a part of the commons, owned equally by all, an... more The public trust doctrine makes natural resources a part of the commons, owned equally by all, and legally owned by the state. The resources and opportunities that the present generation have inherited must be available to future generations in perpetuity. In the Goa mining
case, the Supreme Court wanted to implement intergenerational equity on the grounds of the exhaustion of the iron-ore reserves as well as the widespread damage to the Goan environment and social fabric.
Bookmarks Related papers MentionsView impact
Minerals are a commons, held by state governments in public trust for the people, especially for ... more Minerals are a commons, held by state governments in
public trust for the people, especially for future
generations. With mining, states dispose of minerals for
money, and have so far lost more than half their value.
As this study shows, over the last eight years of iron ore
mining in Goa, each family of four in the state has lost
the equivalent of Rs 13.51 lakh, while the average Goan
private household’s assets are estimated to be Rs 10.44
lakh. This is catastrophic.
Bookmarks Related papers MentionsView impact
Hartwick’s rule says that as mineral resources are extracted from the ground, investments in prod... more Hartwick’s rule says that as mineral resources are extracted from the ground, investments in productive assets need to be made to leave future generations with as much assets as the present generation. This article examines whether mining in Goa meets Hartwick’s rule, and finds that the state government captures only a small fraction of the value of the iron ore extracted from mines it has leased out. It also finds that most of the value of the iron ore is cornered by mining leaseholders,
resulting in a significant redistribution of wealth from the poor to the rich. It points to national and sub-national entities
that follow Hartwick’s rule, and says there are many best practices that can be easily adopted by India.
Bookmarks Related papers MentionsView impact
This article critically examines the capacity available at Dabolim airport, and the varius reason... more This article critically examines the capacity available at Dabolim airport, and the varius reasons put forth for Mopa. None of the reasons hold up to scrutiny.
Bookmarks Related papers MentionsView impact
This article examines various public information about the Indian Navy's air wing, especially in ... more This article examines various public information about the Indian Navy's air wing, especially in the context of Dabolim airport. The new naval airport at Karwar and the ongoing expansion at Belgaum can easily take up the entire naval operations at Dabolim
Bookmarks Related papers MentionsView impact
This article argues that the traffic projections for Mopa are fanciful. There are no real action ... more This article argues that the traffic projections for Mopa are fanciful. There are no real action plans to convert them to fruition. Mopa seems to be following the "build it and they will come" strategy. Given the long history of failed airports around the world, this can be an extremely wasteful path for Goa
Bookmarks Related papers MentionsView impact
Bookmarks Related papers MentionsView impact
Bookmarks Related papers MentionsView impact