Special Feature
Budget 2018-19: No money where the mouth is
20 February, 2018, C.P. Chandrasekhar
Rhetoric and meagre show of financing aimed at the neglected and marginalized sections, to address the pre-election imperative of the Budget have not even been able to fulfil the irrational fiscal deficit targets of the FM, even with massive disinvestment and absence of fund allocation.
The Budget and education
20 February, 2018, Jayati Ghosh
The thrust towards privatization in Budget 2018-19 is evident in the pattern of education spending, which has been brought down to less than 3.5 percent of the government budget, against a promise of 6 percent in the 2014 electoral campaign. So, any real changes are clearly expected to be financed by private participation, implying declining spread, reduced access, and increased inequality.
Current Issues
Technological Change and Impoverishment
19 March, 2018, Prabhat Patnaik
Socio-economic effects of technological change depend upon the property relations within the system they occur. While in socialism higher labour productivity can improve the conditions of workers, in capitalism, the same has lead to growing relative labour reserves, and hence impoverishment.
State or Market?: India's telecom wars
17 March, 2018, C.P. Chandrasekhar
The entry of Reliance Jio in the telecom industry has unleashed an aggressive price war, resulting in takeovers, mergers and closures owing to large debts, spectrum charge dues and falling revenues.
National income in India: What’s really growing?
28 February, 2018, C.P. Chandrasekhar & Jayati Ghosh
Recent income growth in India has been dominated by sectors that do not reflect real physical output increases – such as finance, insurance and real estate and public administration and defence.
Can banking recover?
27 February, 2018, Jayati Ghosh
Recovery of the banking sector will require stricter adherence to sound banking rules and more transparency from public and private players. And most of all, this applies to the regulators themselves and the government that frames all this.
Job Opening at Economic Research Foundation
31 January, 2018,
The Economic Research Foundation, New Delhi is looking for a young professional to assist in website and social media related work. ERF manages three websites that broadly cover economic issues in India and across the world.
Indian Banking: Current Challenges & Alternatives for the Future
30 January, 2018, C.P. Chandrasekhar & Jayati Ghosh
Indian banking today is at a tipping point. Banks are burdened with non-performing assets, incurring significant losses due to provisioning and unable to sustain credit growth, and therefore changes are both necessary and inevitable.....
C.P. Chandrasekhar speaks on "Karl Marx's Capital & the Present"
30 September, 2017,
The fourth lecture, titled 'Karl Marx's Capital & the Present', was delivered on 30th September, 2017 at the India Habitat Centre in New Delhi. In this, the professor talks about contemporary insights that can be drawn from Das Kapital after 150 years of its publication.
C.P. Chandrasekhar speaks on 'Revisiting 'Capital' in the Age of Finance'
23 September, 2017,
The third lecture, titled 'Revisiting Capital in the Age of Finance', was delivered on 23rd September, 2017 at the India Habitat Centre in New Delhi. In this lecture, he talks about the phases that capitalism went through since its inception.
The Question Of Farm - Loan Waiver
23 June, 2017, Prabhat Patnaik
The primary reason why loan-waiver is being demanded at present is not an output fall owing to any natural calamity. It is the price-fall on account of the bumper harvest that underlies this demand. It is the breaking down of an appropriate institutional mechanism that is responsible for the peasants’ distress and periodic demands for loan-waivers.
Finance Capital and the Nature of Capitalism in India Today
25 November, 2016, C.P. Chandrasekhar
This article explains how the growing dependence on foreign finance capital has distorted India’s growth. Due to the accumulated presence of foreign capital in the country since liberalisation, it is turning moribund and losing sovereignty.
Buckling under Pressure
18 January, 2017, Jayati Ghosh
There has been a depressing erosion in the credibility of the major institutions that in different ways are vital for the functioning of our democracy as they are bent to the will of the ruling dispensation.
Barbara Harriss-White on Demonetisation
16 January, 2017,
The notable political economist Barbara Harriss-White, in her interview with Madras Courier has painted a comprehensive picture of what demonetisation has done to India's democracy, agriculture, the 'black economy' and society.

Site optimised for 800 x 600 and above for Internet Explorer 5 and above