Leapfrogging into Services
26 April, 2018, C.P. Chandrasekhar
The argument that services reflect a new dynamism in India and the IMF’s prescription that the sector can be a driver of growth and development are far-fetched.
The Airtel-Aadhaar Fix
10 January, 2018, C.P. Chandrasekhar
Airtel is let off lightly by the government despite being in clear violation of the law in a case that exposes the flaws and dangers in the ecosystem surrounding Aadhaar.
Indian IT hits a speedbump
21 November, 2017, C.P. Chandrasekhar & Jayati Ghosh
A sharp deceleration in growth and restricted employment expansion in the IT sector, India’s post-liberalisation showpiece, has implications beyond the industry’s boundaries.
The Slide of an Aging Leader
26 October, 2017, C.P. Chandrasekhar
The recent acquisition of TTSL by Airtel indicates the deep-seated problems of mismanagement and debt-ridden books of the Tata group, which was once a frontrunner among business conglomerates but is now, only a shadow of its former glorious self.
Computer outages
22 June, 2017, Jayati Ghosh
While our dependency and vulnerability towards computers is becoming almost universal, the false resilience and reliability of the cyberspace is being exposed through recent system breakdowns caused due to extremely minor human errors and absence of adequate backup. In these days of cost cutting, CEOs and governments see cyber maintenance as a luxury, which itself has become a reason for its fragility.
ICT: Implications of imbalanced growth
14 March, 2017, Chirashree Das Gupta
An analysis of India's ICT performance suggests that software export success tends to hide both imbalances in production and their adverse balance of payments fall-out.
Developing "Infrastructure"
25 October, 2016, Prabhat Patnaik
One can intervene in income distribution in an egalitarian direction by restraining the investment in infrastructure that is met at the expense of other socially-pressing needs and rationing the infrastructure in question.
The Continuing Debt Problem in Asia
08 December, 2015, C.P. Chandrasekhar & Jayati Ghosh
Private household debt is going to be a major concern for many Asian economies as excessive household debt and falling realty prices combine to create a potentially potent mix.
Of Polls, Politics and Punditry
30 November, 2015, Jayati Ghosh
Bihar election results have proved to be an outstanding example of the limits of the English speaking national media, both in terms of predictions and analysis.
The Question of Learning
15 October, 2015, Jayati Ghosh
The abysmal state of school education in Rajasthan is symptomatic of a deep and cynical neglect of public education that is likely to have devastating consequences for the future of our society.
Giving Water Workers their Due
11 September, 2015, Jayati Ghosh
The workers who ensure the treatment, delivery and conservation of water across societies are the vast majority who are informal workers, often unpaid and largely unrecognised.
Educational Matters
04 September, 2015, Prabhat Patnaik
The general absence of any intensity of intellectual engagement in the Indian institutions of higher education today makes the overall situation extremely and indubitably bleak.
Power Tariff Hike in West Bengal
17 June, 2015, Prasenjit Bose
One of the necessary steps towards tackling the problem of power tariff hike in West Bengal is to break the monopoly of the CESC in Kolkata and adjoining areas.
Recapitalising India's Public Sector Bank
24 March, 2015, C.P. Chandrasekhar & Jayati Ghosh
The push to recapitalise public sector banks by raising capital through equity issues, on the grounds that Basel III needs make it unavoidable, may be a route to privatisation.
Questioning India's GDP figures
16 March, 2015, C.P. Chandrasekhar
The "too good to be realistic" growth estimate for India put forward by the CSO has been the result of the changes adopted in the data sources and methods.
Software Services: Some cause for comfort
11 March, 2015, C.P. Chandrasekhar
The success of India's software services export industry is built on the ability to maintain its leading position among the top players, which is indeed some cause for comfort.
Households and India’s Stock Markets
17 February, 2015, C.P. Chandrasekhar & Jayati Ghosh
Whilst India's stock markets touch dizzying heights, households are withdrawing from the market as they are influenced more by returns registered in short periods.
The Uncertain World of Software Services
18 March, 2014, C.P. Chandrasekhar
Although RBI's survey points to a revival of India's exports, so long as global conditions remain uncertain there can be little certainty about its export performance.
Open Access vs Academic Power
18 September, 2013, C.P. Chandrasekhar
While open access helps democratise the distribution of peer-reviewed research, it is not clear whether this would rid the system of journal branding and journal hierarchies.
The Scam that NSEL Spells
04 September, 2013, C.P. Chandrasekhar
In its drive to promote liberalisation and deregulation, the Government has created space for scams like the National Spot Exchange Limited fiasco to occur.
Jeff Bezos could be wrong
27 August, 2013, C.P. Chandrasekhar
Jeff Bezos' acquisition of “The Washington Post” has led to speculation on the reasons and on the opportunity it presents for the ailing daily and the industry in the U.S.
Small Savings Schemes in India and the Saradha Scam
29 April, 2013, Subhanil Chowdhury
The erroneous policies of the central government in terms of changing the incentives for small savings have helped the expansion and consolidation of the Saradha group.
Private Banks and Financial Inclusion
16 April, 2013, C.P. Chandrasekhar & Jayati Ghosh
The view that corporate sector’s entry into banking will be an instrument to advance financial inclusion is based neither on historical evidence nor on market logic.
The Plight of Domestic Workers in India
24 January, 2013, Jayati Ghosh
Domestic work takes place under extremely difficult and oppressive conditions with low pay, no limits on working hours, lack of dignity and no protection or social security.
FDI in Banking
19 November, 2012, C.P. Chandrasekhar
Given that accessing foreign equity to enhance bank’s capital is possible within the existing regulatory framework, there is no case for altering the current RBI rules.
How Safe are India's Banks?
30 October, 2012, C.P. Chandrasekhar
The NPA figures on the books of the scheduled commercial banks seem to be gross underestimates given the recent debt restructurings involving a number of large borrowers.
Importing Risk into Insurance
17 October, 2012, C.P. Chandrasekhar
The government’s decision to increase foreign presence in insurance industry would import practices that would subject the savings of middle classes to increased probability of loss.
India's Supermarket Move Shows its Tired Government has Run Out of Ideas
21 September, 2012, Jayati Ghosh
Opening up India’s retail sector to western supermarkets will lead to exploitation of small producers and adverse employment effects. Despite vehement opposition the government insists on pushing through this reform, a move that speaks of a tired regime which has run out of ideas.
Engineering Teaching and Research in IITs and its Impact on India
05 July, 2012, Milind Sohoni
The dominant paradigm of research and development (R&D), as it is practised in India's premier engineering institutes, has not only been abstract and lacking in diversity, but has also been too 'international' to incentivise work on our own development problems. Such an inverted incentive structure in the socio-economically important engineering job market has been macroeconomically observable in the faster growth in service sector as compared to manufacturing.
Don't Shoot the Interpreter
07 March, 2012, C.P. Chandrasekhar
The Supreme Court judgment on Vodafone case is a godsend for the government, which can now pretend that it is the court that is responsible for an increasingly lax tax policy in the country where there are, as the government claims, inadequate resources to ensure food security, address deprivation and provide employment.
Retail Rollback
26 December, 2011, C.P. Chandrasekhar
Permitting FDI in retail trade, wherein a few oligopolistic buyers would come to dominate the retail trade, will lead to adverse employment effects and an erosion of real incomes of small crop producers.
Multinational Retail Firms in India
12 December, 2011, Jayati Ghosh
The actual impact of large corporate retail, and especially multinational retail chains, in developing countries clearly shows that many of the claims made by proponents of such corporate retailing – in terms of employment generation or benefits to producers and consumers – are suspect or sometimes completely false.
Retrogression in Retail
01 December, 2011, C.P. Chandrasekhar
Permitting FDI in retail trade, wherein a few oligopolistic buyers would come to dominate the retail trade, will lead to adverse employment effects and an erosion of real incomes of small crop producers.
Why are Women’s Health Outcomes in India so Poor?
29 November, 2011, C.P. Chandrasekhar & Jayati Ghosh
Women’s health outcomes in India are generally much worse than in comparator countries, despite two decades of very rapid growth in India. Public spending on health as a share of GDP has not increased, and per capita spending on immunisation and primary health centres has actually gone down.
Higher Education: Dealing with higher expectations
07 September, 2011, C.P. Chandrasekhar & Jayati Ghosh
There has been a significant increase in enrolment in higher education in developing countries (especially Asia) in the past decade. However, this positive change also brings forth certain challenges, the most obvious of which is the challenge of generating enough employment to meet expectations of growing numbers of new graduates.
Public Spending on Education in India
29 June, 2011, Jayati Ghosh
The failure of the government to provide universal access to quality schooling and to ensure equal access to higher education among all socio-economic groups as well as across gender and region has significant implications for equitable socio-economic advancement. Ensuring a reasonable quality of education to all children will necessarily require a significant expansion of the public resources to be provided.
The Japan-India Comprehensive Economic Partnership Agreement
22 February, 2011, C.P. Chandrasekhar & Jayati Ghosh
There has been much media celebration about the recent signing of the Japan-India Comprehensive Economic Partnership Agreement. This article examines some of the features of the agreement and considers their implications for domestic economic strategies and processes in India.
Managing the Mass Media
31 August, 2010, Jayati Ghosh
Some recent Indian experiences have led to the formation of a consensus that the mass media have become sensationalist and scandal-obsessed, often irresponsible and generally insensitive. The problem is getting so much worse that there is a need to think of new and creative ways to make sure that our media is actually accountable to the general public, including those without any political voice to speak of.
The Sacred Cow
23 August, 2010, Prabhat Patnaik
The bourgeoisie argument that development of infrastructure is in the interest of society and investment for it must be encouraged at all costs ignores the fact that infrastructure has a class character as well. Essentially, we must distinguish between “infrastructure” that is in the interests of the people at large and “infrastructure” that uses social resources for the benefit of the few.
Money Illusion
17 June, 2010, C.P. Chandrasekhar
The perception created by the spectrum auction that there is much money in government coffers to pursue a social agenda is an illusion for two reasons. First, whatever money appears to be at hand is not available in the long term. Second, the new receipts from the private sector that create this illusion could be substantially matched by reduced government receipts in other areas or reverse flows to the private sector.
The Good News about Health in West Bengal
15 June, 2010, C.P. Chandrasekhar & Jayati Ghosh
Media discussion about West Bengal has been largely negative in the past couple of years, for a variety of reasons. Whatever be the merits or demerits of those arguments, one problem with the conditions in the state that has been identified by a number of observers in the recent past has been the relatively poor performance in terms of human development, especially health and education, relative to other clear successes in land distribution, decentralization and power to panchayats, and so on.
Foreign Aid or Aiding the Foreign?
01 May, 2010, C.P. Chandrasekhar
Passing of modified draft version of the Foreign Educational Institutions Bill by the Union Cabinet has raised certain questions with protagonists and opponents expressing a range of views on the subject. While there is a fear that the process underway is one of creating a window for foreign players and then changing the rules in their favour, question is also raised whether the implementation of the Bill amounts to skewing further the inequality in access to higher education.
Sending the Money Home
15 September, 2009, C.P. Chandrasekhar
Remittances have been and remain a major source of strength for the Indian economy, especially for its balance of payments. Given the accumulated stock of migrants abroad, this is unlikely to change very soon, even if some are forced to return due to the effects of the crisis on employment contracts.
Service Exports in Developing Asia
10 September, 2009, C.P. Chandrasekhar & Jayati Ghosh
Services exports have emerged as an important source of foreign exchange and even employment generation for many countries in developing Asia. This is part of the global explosion in services trade, which is evident from Chart 1.
Fears of a Backlash
20 May, 2009, C.P. Chandrasekhar
The US President clearly aims at getting some political mileage by posing an otherwise straightforward tax reform proposal in terms of jobs at home and jobs overseas. On the other hand, despite industry concerns to the contrary, the competitive edge for the India's IT industry which comes from the lower wage rates and the attraction of the growing demand for IT hardware and packaged software in the Indian domestic market are both so large that the loss of the tax advantage should not deter US firms from captive outsourcing or setting up subsidiaries here.
Control Frauds
29 January, 2009, Jayati Ghosh
The Satyam fraud incident is not a unique case of corporate malfeasance. This kind of financial crime, which is persistent under capitalism, has been developed as the concept of 'control fraud' by the American academic, William R. Black, where the CEO of a firm uses the firm itself, and his/her ability to control it, as an instrument for private enrichment.
The Fraud at Satyam
27 January, 2009, C.P. Chandrasekhar
As the Satyam story unfurls gradually, the magnitude of the scam does point towards the total failure of corporate governance at all levels in combination with individual greed. But, it is also the product of the celebration of profit making irrespective of magnitude, of the belief in markets and the discipline they impose, and of regulatory dilution and regulatory failure.
Diluting Insurance against Risk
03 January, 2009, C.P. Chandrasekhar
Despite the global experience with privatized insurance and the Indian experience with nationalised insurance, India’s government is pushing ahead with insurance privatization. The two insurance bills appear to be declarations of India's intentions to globalise further during the current Prime Minister’s tenure, independent of the consequences for its people.
Whose Security?
10 December, 2008, Jayati Ghosh
Following the Mumbai terrorist attacks, the Indian elite has suddenly realised that they cannot insulate themselves from the general loss of physical security, which has been the fate of the average less-privileged Indian for some time now. There are thus calls for the privatisation of security that may actually make things worse.
IT in India: A Turning Point?
09 August, 2008, C.P. Chandrasekhar
In spite of cautious optimism of some industry insiders given that the top 20 IT companies seem to be keeping up their spectacular rates of growth even when facing a dismal global economy, it is also undeniable that the increasing presence of foreign firms in the domestic sector means a shift in the net foreign exchange eared by the IT sector, leading perhaps even to a net outflow sometime in the foreseeable future.
Public Health on The Cheap
01 August, 2008, Jayati Ghosh
Government policy in the social sectors in India clearly relies heavily on the unpaid or underpaid labour of women. These women often perform essential and demanding tasks that typically amount to full-time work, but not given the status of regular government employees, and paid wages that fall below the minimum wages.
New Light on Business Services
28 July, 2008, C.P. Chandrasekhar & Jayati Ghosh
Despite its relatively low level of per capita income by developed country standards, India’s growth during much of the post-liberalization period has been led by services. There are plausible reasons why growth in developing countries today could reflect a premature expansion of services. Manufacturing units in the contemporary world rely as much or more on management and control as on technology to raise productivity and reduce costs.
IT Firms and Financial Markets: A Changed Relationship
14 July, 2008, C.P. Chandrasekhar & Jayati Ghosh
India's stock market has lost its lustre for those counting their wealth in terms of the value of the paper assets they hold. Between the end of October 2007 and early June this year, the Sensex has fallen from the 20000 level to around 15500, or by close to 23 per cent. That decline implies a substantial loss of paper wealth that hurts most those who bought into the market at its peak.
The Scourge of Private Tuitions
12 June, 2008, Jayati Ghosh
In all Indian cities and towns and increasingly in rural areas, taking private tuition has now become common practice and at fees which are much higher than the regular school fees. A remarkable feature of our school education system is the way it has allowed and even encouraged the proliferation of this system. However, not only is the system deeply inequalising, it adversely affects the quality of the school education system itself.
The Impact of Macroeconomic Change on Employment in the Retail Sector in India: Policy Implications for Growth, Sectoral Change and Employment
15 May, 2008, Jayati Ghosh, Amitayu Sengupta & Anamitra Roychoudhury
This study is concerned with the employment situation in India's retail sector. High economic growth in India has not produced satisfactory outcomes of job growth, both in terms of quantity and quality. Concern has arisen that many of the working poor engaged in small-scale retailing and street vending are crowded by entries of large-scale domestic as well as foreign retailers. Share of workers' income in manufacturing has also seen a decline, despite labour productivity growth, during the last decade. This paper argues that economic policy in India needs to be made more inclusive and equitable. The only sure way of doing so would be making it more pro-job and pro-poor, through examining employment implications of macro policies that accompany economic liberalization.
Water, Water Everywhere
10 October, 2007, Jayati Ghosh
A clever photograph could even make it look rather beautiful, a slightly seedy but still picturesque version of Venice, with water flowing where roads should be, and all the houses apparently rising from the muddy, swirling stream.
Dominance and Competition in the Indian IT Sector
10 September, 2007, C.P. Chandrasekhar & Jayati Ghosh
Come July and, unfailingly, Dataquest-one of two private agencies that are sources of detailed information on India's IT sector-releases, over consecutive issues, its data on performance of the IT industry for the preceding financial year.
Indian Economy in the Era of Contemporary Globalisation: Some Core Elements of the Balance Sheet
17 May, 2007, Praveen Jha & Mario Negre
In recent years, the 'official' India has been patting itself on account of accelerated economic growth rates and the presumed progress in poverty reduction. However, as this paper argues, the recent economic growth has been extremely lopsided; more than ever before. Further, large sections of the country's population continue to suffer, very acutely, with reference to a whole range of development deficits. This paper is an attempt to sketch a snapshot of India's economic growth performance, along with some of the major development deficits it is facing.
Is the Central Government Serious About Schooling?
12 May, 2007, Jayati Ghosh
It is difficult to figure out what exactly the UPA government wants. On the one hand, from the declaration of the National Common Minimum Programme onwards, the government has declared that it will make education a major thrust area, that it will increase public spending on education to at least 6 per cent of GDP and take measures to make India a ''knowledge-based'' society and economy. On the other hand, both in the pattern of spending in the past two years and in the budget allocations for the coming financial year, as well as in its remarkably derelict attitude to the Right to Education Bill, the government appears to suggest that educating all our young people is not a real concern.
The Farce of ''School Choice''
06 March, 2007, Jayati Ghosh
Anyone who knows even a little bit about school education in India knows that it is largely about exclusion. Only a tiny minority of children in our country get anything resembling a decent schooling - the rest are either excluded altogether, or provided very poor quality education with weak infrastructure and inadequate pedagogic attention, which in turn encourages high rates of dropout.
Women Workers in Urban India
06 February, 2007, C.P. Chandrasekhar & Jayati Ghosh
The state of California in the United States has for a while been the standard bearer of policy measures that reduce state responsibility in critical areas that were typically the responsibility of public provision earlier. The privatisation of electricity utilities was one infamous example, in which California led the world and ended up providing a textbook case of how not to privatise power distribution.
The Threat from the Internet
20 January, 2007, C.P. Chandrasekhar
Indian public sector majors BSNL and MTNL have promised to deliver a New Year gift to those subscribing to their internet services. Bandwidth on entry level ADSL broadband connections provided through telephone lines are to be raised from 256 kbps to 2 Mbps at no extra cost to the customer.
Brand Equity in Higher Education
22 December, 2006, Jayati Ghosh
It is fashionable nowadays to speak of the higher education system in the United States as the model that deserves emulation everywhere else in the world. It is regularly portrayed, in the international media, as the most dynamic, successful and attractive of all such systems in any country. In India the queues of students lining up to join that system seem to grow longer and longer, regardless of very high and rising costs of such education, or practical concerns such as visa difficulties.
One More Miracle?
11 December, 2006, C.P. Chandrasekhar
India, the government would have us believe, is the new growth ''miracle'' in the developing world. According to official figures, GDP growth has accelerated from its ''Hindu rate'' origins of around 3.5 per cent in the 1970s and earlier to 5.4 per cent in the 1980s, 6.3 per cent during the decade starting 1992-93 and an annual average rate of more than 8 per cent during the three years ending 2005-06. Since this acceleration has occurred in a context of limited inflation, the government is now targeting a further rise to 9 and even 10 per cent over the Eleventh Plan.
Resources for Equitable Growth
07 December, 2006, Economic Research Foundation
The declared aims of the Planning Commission's Approach to the XIth Plan, all of which require substantially increased public expenditure in physical infrastructure and social sectors, simply cannot be met within the confines of a restrictive fiscal policy stance. The need to rethink policies of resource generation and financial regulation is therefore urgent. In this context, this paper, presented to the National Commission on Enterprises in the Informal Sector, seeks to examine the effects of the three perceptions underlying the prevailing fiscal conservatism, questions their validity and offers some alternatives for mobilising resources for development.
''Rent-a-womb'': The Latest Indian Export
10 November, 2006, Jayati Ghosh
When it comes to providing new possibilities for the outsourcing and offshoring of services, no one can beat us Indians. The proof of this comes from the latest form of such offshoring that is increasingly using India as the preferred location: the phenomenon of surrogate motherhood.
Government Health Expenditure in India: A Benchmark Study
30 October, 2006, Economic Research Foundation
In spite of large positive externalities associated with health spending, in India it is until now largely privately financed. The relatively low spending by the government, a trend aggravated during the liberalisation era,
The Dengue Patient
11 October, 2006, Jayati Ghosh
The abysmal conditions of health care in our country - both public and private - are often ignored by the elite, which has seceded into its own privileged world. For any improvement in these unacceptable conditions, there must be a much larger infusion of public funds to provide all the things that are now in such short supply, from physical infrastructure to human resources.
A Foreign Hand for Higher Education
28 September, 2006, C.P. Chandrasekhar
While considering demands from more well-to-do sections in the country for domestic access to the services of foreign educational providers, the government needs to assess the private and social benefits of acceding to this demand after taking into account the social costs that such a policy may entail. Making a commitment under GATS could tie the hands of the government.
Making the Poor Pay for Health
28 September, 2006, Jayati Ghosh
For some time now, it has been accepted among economists that health is one area which should be dominated by public activity. Even the most diehard market-worshippers recognise that health spending is a clear merit good, because of the substantial presence of ''externalities''. And there are other characteristics of health care which are associated with ''market failure'', such as information asymmetry, which also require state intervention and regulation.
India is Online but Most Indians are Not
26 September, 2006, C.P. Chandrasekhar
To bridge India's widening digital divide, the Government is focusing on increasing physical access to computers connected to the Internet. In a recent policy initiative, it has promised to put in place in rural India a hundred thousand Common Service Centres (CSCs) - broadband-enabled computer kiosks that will offer a range of government-to-citizen and business-to-customer services, besides providing sheer access to the Internet.
Knowledge and the Asian Challenge
05 September, 2006, C.P. Chandrasekhar & Jayati Ghosh
According to official statistics, China continued to grow at a scorching 10.2 per cent during the first quarter of 2006, as compared with the corresponding period of the previous year. India closely followed China's performance, with GDP growing at an estimated 8.4 per cent during financial year 2005-06.
Concentration in the Competitive Software Business
11 August, 2006, C.P. Chandrasekhar & Jayati Ghosh
Statistics on the global production and trade in software are notoriously inconsistent, because of difference in coverage and methodology. Any single source can at most provide an indication of the structure of and trends in the industry, rather than an exact measure of its size.
Destroying the Right to Education
10 August, 2006, Jayati Ghosh
In all the often heated debates about the strategy of development for India, there is one issue on which there seems to be consensus among all - the need to provide universal and good quality education at the school level to all our children.
Reservations for Backward Groups in Higher Education
22 May, 2006, Jayati Ghosh
The latest frenzy that is being whipped up in the media, especially in the English language press and on television, relates to the proposal mooted by the Ministry of Human Resource Development to provide quotas for backward castes in all institutions of higher learning funded by the central government.
On ''Excellence'' and Its Pursuit
20 March, 2006, Jayati Ghosh
In discussions on higher education, one persistent theme that now recurs with greater frequency relates to the pursuit of excellence. Of course this is not entirely new; from the early 1950s when the elite of independent India was filled with a new self-confidence, there has been an attempt within the public domain to create institutions of excellence in higher education.
Sanitising the Poor
21 February, 2006, Jayati Ghosh
I live in a university campus in the heart of South Delhi. Delhi is the richest state of India in terms of per capita income, the city of Delhi is the most rapidly growing in material terms and the residents of South Delhi in particular are perceived of as being especially well off.
Airport Modernisation: The Real Issues
08 February, 2006, Jayati Ghosh
If anyone had any doubts about the misleading analysis and suppression of information purveyed by most of the mainstream media, these doubts should be dispelled by the latest evidence with respect to the recent strike by airport employees. This has been widely reported as the retrogressive actions of some employees who simply want to keep their jobs and are therefore impeding modernisation.
IT- Driven Offshoring: The Exaggerated "Development Opportunity"
27 January, 2006, C.P. Chandrasekhar & Jayati Ghosh
This paper considers the recent boom in IT-driven offshoring in India and examines the potential for this to become a major source of economic growth in the future.
Memory and the Paperless World
06 January, 2006, Jayati Ghosh
Spare a moment to commiserate with the historians and biographers of the future. The communications revolution has provided many of us with incredible access to all sorts of information and exchange, and opened up undreamt of possibilities.
Who needs a ''Knowledge Economy'': Information, Knowledge and Flexible Labour
13 December, 2005, C.P. Chandrasekhar
In India's progress towards a knowledge economy, the goalpost is not even in sight. Yet this potential is being emphasised and supportive policies are being advocated merely based on the success of enclave-type growth in the IT sector mainly because the argument can be used to justify economic policies, especially labour market policies, which are clearly inappropriate.
Increasing Public Expenditure on Education
11 November, 2005, C.P. Chandrasekhar & Jayati Ghosh
The UPA Government has committed to increasing the share of public spending on education to 6 per cent of GDP. In this edition of MacroScan, C.P. Chandrasekhar and Jayati Ghosh assess the implications of this in relation to the evident social needs.
Chinese Banking: The New Frontier for Global Finance
30 September, 2005, C.P. Chandrasekhar
Till recently China's banks were described in terms that made them global pariahs. They were not seen as banks that mobilised savings for investment, but agencies for channelling State subsidies (named loans) to sate-owned enterprises with soft budget constraints.
Indo-US Economic Relations: More Give and Less Take?
25 August, 2005, C.P. Chandrasekhar
Despite the presence of a group of high-profile chief executives and the launch of an Indo-US CEOs Forum, strategic rather than economic issues hogged the limelight during Indian Prime Minister Manmohan Singh’s visit to the US.
EU: Status quo on Software Patents
24 August, 2005, C.P. Chandrasekhar
Early in July, the European Union's parliament rejected, by an overwhelming 648 to 14 vote, a bill proposing a common framework for patenting of software across its 25 member countries. Given the vote, the EU stays with the status quo in which software patenting is still possible, though there are as many software patenting regimes in place as there are members.
IT-Services as Locomotive
13 June, 2005, C.P. Chandrasekhar
The refrain was tiresomely extraordinary. In its recently released results on the performance of India's software and IT-enabled services sector during 2004-05, the National Association of Software and Services Companies (NASSCOM) declared that the sector.
Budget 2005-06: Marking Time
07 March, 2005, Prabhat Patnaik
The rhetoric of the 2005-06 budget certainly shows a welcome change from earlier. Previous budget speeches had been pre-occupied with showing the need for neo-liberal reforms and how the particular budget being presented was carrying forward that process.
The Tired Old Subsidies Debate
27 December, 2004, C.P. Chandrasekhar, Jayati Ghosh & Smitha Francis
The National Common Minimum Programme of the UPA government promised many things, and on some of the more crucial issues (such as on the Employment Guarantee ACT) the current central government has shown itself to be less than enthusiastic in terms of fulfilling the true spirit of its promise.
Bank Reforms in India: The Effect on Farmers
27 October, 2004, Sukanta Dasgupta
It is now widely recognised that access to credit is critical for cultivators operating in a market setting. One of the important - and moderately successful - aims of bank nationalisation more than 30 years ago, was to provide institutional credit to agriculture, which until then had been severely neglected by bankers.
How is Indian Industry Faring?
21 September, 2004, C.P. Chandrasekhar & Jayati Ghosh
With outsourcing of services emerging the employment issue of the times, the performance of India's services sector is under scrutiny. In a recent article in the Financial Times (September 1, 2004), Stephen Roach, the chief economist of Morgan Stanley declared: ''The impetus that services have given to India's growth has been … impressive.
Paying for the Roads
17 September, 2004, Jayati Ghosh
Almost anywhere else in the world, the notion of a toll road implies the construction of an altogether new road, which does not replace or supplant an existing road, but adds to it. It is meant to provide an alternative -faster and better - means of travel, only for those who are willing to pay for it.
Globalised Fraud, not Global Trust
29 July, 2004, C.P. Chandrasekhar
On July 26, hapless depositors in ''new-generation'' Global Trust Bank (GTB) discovered from the tickers at the bottom of their television screens that their money was no longer their own - at least for the next three months.
On The Economics of Media Diversity
25 August, 2003,
A spate of controversies in recent months with respect to India’s media policy points to the problems related to putting in place, in piecemeal manner, a policy to regulate a multi-component industry that has experienced rapid growth without being subject to an adequately worked-out and broad policy framework.
The Two Faces of Mr. Gates
02 January, 2003, C.P. Chandrasekhar
Was Microsoft chief Bill Gates’ dual-purpose, philanthropic-cum-business visit to India basically motivated by the desire to strengthen his company’s monopoly over the large software market in India? This is a view that is held by many advocates of the free software movement, who are disappointed by the willingness of state and central government agencies to rub shoulders with Gates and rely on his software, especially the Windows platform, when implementing their IT initiatives.
The Strange Behaviour of the Insurance Business in India
27 July, 2002, Jayati Ghosh
The author argues that the performance of the insurance sector after liberalization have so far contradicted the predictions of lower prices and better prices for the consumers. On the contrary, the profit emphasis of the insurance companies, private and public, have made it more difficult and expensive for consumers to take policies where they are most at risk.
OECD: Development through Services
19 March, 2002,
An often noted but relatively ignored feature of the global economy, is the rapid change in structural composition away from commodity production and in favour of services
IT Trends : Behind the Hype
25 January, 2000,
The dramatic expansion of India's Information technology (IT) sector during the 1990s, albeit from a low base, is widely seen as heralding India's emergence as a global IT and software powerhouse. This 'popular' perception has underlying it a less pervasive but more sophisticated argument.
Services Sector Growth : What Does it Mean?
16 November, 1999, C.P. Chandrasekhar
Services constitute a very heterogeneous economic category, and it is one which has become more difficult to define over time. Older definitions of services tended to rest on the fact that services were often difficult, if not impossible, to separate from the service-provider and recipient, so that people became crucial to the definition.

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