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The Demise of Bank Credit
02 January, 2018, C.P. Chandrasekhar & Jayati Ghosh
Growing economies generally show increasing deployment of bank credit – but in India this has been decreasing for years and recently has been almost flat. What does this suggest about the growth process and the health of the Indian economy?
The Obscenity of Hunger Deaths
22 December, 2017, Jayati Ghosh
There is no doubt that human life is cheap in India, perhaps more so now than ever before. The attacks, atrocities and killings of people from minorities and marginalised groups that have now become so common are particularly appalling because they reflect a culture of impunity.
The Dollar Drain
19 December, 2017, C.P. Chandrasekhar & Jayati Ghosh
A recent spike in the volume of foreign exchange outflows under the Liberalised Remittance Scheme suggests that India is vulnerable to large scale capital flight, if economic uncertainty increases.
Do Purchasing Power Parity Exchange Rates Mislead on Incomes? The case of China
05 December, 2017, C.P. Chandrasekhar & Jayati Ghosh
The use of exchange rates based on Purchasing Power Parities (PPPs) to compare incomes across countries and over time is now standard practice. But this may lead to excessively inflated incomes for poorer countries and not capture the real changes over time.
The Gujarat model’s failure explains why the economy has become such a significant factor in the coming state elections
28 November, 2017, Jayati Ghosh
The model of development that was presented as a success story relies on patronising and providing incentives to large businesses while simultaneously suppressing wage incomes.
How China is managing capital flows - and why
24 November, 2017, Jayati Ghosh
China is seeking a more influential role in the global economy, and it hopes to achieve this through greater use of its currency by others.
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.
Not with a Bang but with a (prolonged) Whimper
16 November, 2017, Jayati Ghosh
The German thinker Wolfgang Streeck in his brilliant book provides a cogent critique of the nature of contemporary capitalism, and describes its ongoing extended demise without surrendering to any optimism that as it fails to deliver even in terms of its own logic all the injustice it has generated must inevitably change for the better.
Unbalanced global growth
08 November, 2017, C.P. Chandrasekhar & Jayati Ghosh
The distribution of the weak global economic recovery since the Great Recession provides little reason for optimism about the future.
The Golden "Diwali Gift"
26 October, 2017, Jayati Ghosh
In the light of rescinding, at the behest of the clout of jewellery traders, the notification requiring KYC details for purchase of gold, the government will find it difficult to maintain its ‘pro-poor’ and ‘anti-corruption’ image as its moves seem to be, more for optics and hype than substantive change.
The Crisis in Agriculture
24 October, 2017, C.P. Chandrasekhar & Jayati Ghosh
The dilution of government intervention in the form of minimum support prices, procurement and public distribution is undermining the medium-term viability of agricultural production in India.
Widowhood in India
11 October, 2017, C.P. Chandrasekhar & Jayati Ghosh
Public policy has largely ignored specific problems of widows in India. And given their numbers, this exclusion can prove costly for society in general.
Winner-take-all Political Funding
28 September, 2017, Jayati Ghosh
By introducing the opaque and hugely problematic system of electoral bonds, the BJP-led government at the Centre has indicated that it is not really interested in fighting corruption but only concerned with expanding its hold on power.
The Emerging Crisis in Real Estate
26 September, 2017, C.P. Chandrasekhar & Jayati Ghosh
The slow down and partial crisis in India’s real estate sector reflects the challenges facing post-reform growth in India.
Deras and Evangelicals
18 September, 2017, Jayati Ghosh
Deras, like the Pentecostal Church in the U.S. and elsewhere, are popular because they address the needs and aspirations of those socially excluded by organised religion and economically marginalised by globalisation.
Foreign Investor Appetite
14 September, 2017, C.P. Chandrasekhar & Jayati Ghosh
A brief decline in portfolio inflows into equity markets has raised the question whether foreign investment flows into India have peaked. The evidence of investments in debt markets suggest otherwise. That, however, need not be all good news.
Sanitation workers in India
08 September, 2017, Jayati Ghosh
The deeply entrenched casteist approach to manual scavenging is part of public policy and explains why the practice continues unabated and why the Swachh Bharat Abhiyan in effect relies on it.
The Triple Talaq Verdict: Victory in one battle in a much longer war
29 August, 2017, C.P. Chandrasekhar & Jayati Ghosh
The Supreme Court’s welcome verdict in the Triple Talaq case should bring public attention to the problems and needs of separated and divorced women across all religious communities in India.
150 years of 'Das Kapital': How relevant is Marx today?
24 August, 2017, Jayati Ghosh
After 150 years of ‘Das Kapital’, the seminal work of the 19th century economist still provides a framework for understanding contemporary capitalism. The unique social relations such as “free labour” and “commodity fetishism”, that according to Marx, define capital, are reflected in the uneven and unstable development of the world market.
What is really happening in Indian manufacturing?
16 August, 2017, C.P. Chandrasekhar & Jayati Ghosh
Data on organised manufacturing production do not really capture the impact of demonetisation and its effects on demand, but looking at some sub-sectors of consumer non-durable goods provides more insight.

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