Economic Briefs

Difficulty of Growing Tails Again
25 January, 2008, Prabir Purkayastha
There has been a recent parting of the ways between the Left parties, particularly the CPI(M) and various sections, which had earlier appeared to be a part of a larger coalition of forces against imperialist globalisation. Obviously, Nandigram and Singur are symptomatic of a much larger difference that existed and which has now surfaced. This current divergence reflects several issues; the role of development, the role of the state and the issue of imperialism.
The Fiscal Deficit
17 August, 2002, Jyotirmoy Bhattacharya
The fiscal deficit is the difference between the government's total expenditure and its total receipts (excluding borrowing).
Is a Fiscal Deficit Inherently Bad?
17 August, 2002,
In the late twenties the British Treasury (because of which this view came to be known as the "Treasury View") that in all circumstances the government's balancing its expenditure with its income, i.e. not resorting to any fiscal deficit, is the most desirable policy for an economy. The British colonial government in India, it may be recalled, had used precisely this argument for pursuing deflationary policies even during the years of the Great Depression because of the fall in its tax revenue.
Privatisation and Poverty Reduction : What are the Links ?
03 August, 2002, Jayati Ghosh
If poverty reduction is an explicit over-riding concern, any programme, project or policy must be evaluated for its effects on this, which means.....
What was the Vision Underlying India's Post-Independence Economic Strategy?
12 June, 2002,
The vision of the Indian economic regime erected in the 1950's emerged from the freedom struggle. The economy had been dominated by metropolitan capital and metropolitan commodities in the pre- independence period. Freedom meant freedom from this domination; and this could not be ensured without giving the State in independent India a major role in building up infrastructure, expanding and strengthening the productive base of the economy, setting up new financial institutions and regulating and co-ordinating economic activity.
What was the Nature of the Agrarian Transition in Post- Independence India?
12 June, 2002,
The essence of the agrarian transition in post-Independence India has been the development of a socially narrowly-based agrarian capitalism. While there has been some change in the composition of the top land-owning stratum (with the decline of the erstwhile zamindars and the moving up
CSO's Shaky GDP Estimates
03 April, 2002, C. Rammanohar Reddy
The past 10 days have been embarrassing for India's official statistics machinery. First, the Central Statistical Organisation announced that the economy grew by only 4 per cent in 2000-01, after saying a year ago that growth would be 6 per cent and following that up in June 2001 with an estimate of 5.2 per cent for 2000-01. If the extent of this downward revision was not bad enough, the CSO quickly followed it up with its Advance Estimate of growth in the current fiscal year 2001-02. This would seem just what the doctor the Government ordered: GDP growth of 5.4 per cent, while everyone had been talking of growth of between just 4 and 5 per cent.

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