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A Note on Estimating Income Inequality across countries using PPP Exchange Rates
01 February, 2018, Jayati Ghosh
The use of exchange rates based on Purchasing Power Parities to compare income across countries and over time has become standard practise. But there are reasons to believe this could lead to excessively inflated incomes for poor countries and in some cases also inflate the extent of real changes over time. Estimates of gross domestic product growth in Chinese and Indian economies in recent years provide examples of this.
The Budget and the farmers: The government's dilemma in 2018
01 February, 2018, Jayati Ghosh
Budget 2018 is expected to be famer-oriented, with persistent agricultural distress and near-stagnant farmer income contrary to the promises made by the government. But, even as the election come near, the scale of increased spending that is required for all of this is unlikely to be met, given the self-imposed constraints of “fiscal responsibility”.
Rising Incomes, Falling Wages
31 January, 2018, Jayati Ghosh
Changing the unequal economic tendencies brought out in the World Inequality Report 2018 requires changing the politics—not just making governments more accountable to the people, but making people realise that they are being fooled.
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.....
The Politics of being a Dalit Woman
22 January, 2018, Jayati Ghosh
To deal with the political and economic marginalisation of Dalit women, it is necessary to recognise the significant differences among them not only according to socio-economic context, degree of education and occupation but also by subcaste.
The Other Face of Private Banking
16 January, 2018, C.P. Chandrasekhar & Jayati Ghosh
Private banks, especially foreign ones have relied on off-balance sheet liabilities to earn revenues and profits, courting risk and leaving the business of banking proper largely to the public sector banks.
Destroying our Wetlands
10 January, 2018, Jayati Ghosh
The specific rules for wetlands framed in 2010 have remained only on paper and do not seem to be able to stop proscribed activities in such areas, with even a five-star hotel being constructed on one in Udaipur.
The Indian economy in 2017
02 January, 2018, Jayati Ghosh
This was the year that the economy tanked. Not necessarily in terms of official growth figures: according to the CSO, GDP growth decelerated, but not by that much....
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.

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