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A Disappointingly Ordinary Budget for Extraordinary Times
02 February, 2017, Jayati Ghosh
Budget 2017 is remarkable in its absence of any of populist measures that are directed towards the welfare of the masses. What is surprising is that it does not address some of the most important macroeconomic concerns today.
Budget 2017-18: Utterly ordinary
02 February, 2017, Jayati Ghosh
Coming soon after the drastic demonetisation, there were many expectations riding on this Budget, but none of these expectations has been met in this utterly ordinary budget.
Will We Miss the Budget Opportunity?
31 January, 2017, Jayati Ghosh
The economic slowdown, induced almost entirely by demonetisation, necessarily requires significantly enhanced public spending; but it doesnít appear to be forthcoming.
Budget 2017 must Support those Worst Hit by Demonetisation
31 January, 2017, Jayati Ghosh
To counter the contractionary forces unleashed by demonetisation, Budget 2017 should direct fiscal resources to informal activities that have seen the greatest decline and to poor people who have been hardest hit.
No Digital Base for a Cashless Economy
27 January, 2017, C.P. Chandrasekhar
In the absence of a digital base for a cashless economy, Indiaís road to a near-cashless economy seems fairly long and the journey is likely to be slow and tedious.
The Widening Gap between Rich and Poor
23 January, 2017, Jayati Ghosh
Evidently the problem of inequality has intensified over the last decade or so, and this is largely because of worsening income and asset distribution in the era of globalisation.
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.
Waning Stimuli
17 January, 2017, C.P. Chandrasekhar & Jayati Ghosh
Banks strapped with stressed assets are holding back on lending, dampening in the process the principal stimulus to growth in recent years. And there are no alternative routes to growth in sight.
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.
The Demonetization Fiasco
16 January, 2017, Prabhat Patnaik
Demonetization has been a fiasco in achieving its stated objective, apart from being a disaster for the people.
The Pursuit of Unreason
09 January, 2017, Prabhat Patnaik
Modiís demonetization can be compared with Idi Aminís fiat in 1972 as both are instances of extreme unreason. But while Aminís was an untenable and extremely inhumane solution to the problem it addressed, Modiís is a complete non-solution to the problem it addresses which is also inhumane, and hence constitutes an even greater act of unreason.
The Growth of Digital Payments
03 January, 2017, C.P. Chandrasekhar & Jayati Ghosh
In the context of the failed demonetisation and continued shortage of currency, the government continues to push cashless digital payments. What are the implications for Indians?
The Utter Failure of Demonetization: The RBI Says So Even as it Says Not
29 December, 2016, Surajit Mazumdar
From the figure of the value of fresh banknotes issued by banks by 19 December, it can be concluded that we are still very far away from the full replacement of the cash withdrawn from circulation and the severe cash shortage is going to continue well beyond 30 December.
The Dialectics of Authoritarianism
22 December, 2016, Prabhat Patnaik
The decision to demonetise overnight as much as 86 percent of the currency of a country which is predominantly currency-using, is necessarily irrational, undertaken in the quest of a heroism that is a necessary feature of an authoritarian regime.
The Budget after Demonetisation
21 December, 2016, C.P. Chandrasekhar
If the government adheres to its deficit targets, this could imply a substantial cut in capital expenditures or social expenditures or both which would worsen the contraction set off by demonetisation.
Digital Dreams
21 December, 2016, Jayati Ghosh
The governmentís mad rush towards a cashless economy ignores the presence of the large unbanked population that will not gain from incentives being offered for digital transactions.
Committee to Study the Impact of Demonetisation on the State Economy of Kerala
20 December, 2016, C.P. Chandrasekhar, Pinaki Chakraborty, K. M. Abraham & V. S. Senthil
A Committee appointed by the Kerala State Planning Board to study the impact of demonetisation on the economy of the State of Kerala presented its interim report where it stated that after demonetisation, Keralaís fiscal situation is grim and the day-to-day cash management has become a challenge at the state level that can snowball into a major crisis.
Banks as victims
17 December, 2016, C.P. Chandrasekhar
The damage to the reputation of banks and its employees, which and who have been victims of the engineered cash shortage, is likely to be aggravated by the adverse effects the demonetisation may have for the already damaged profit and loss accounts and balance sheets of the banks.
Supreme Court should Frame an Eleventh Question on Demonetisation
15 December, 2016, Prasenjit Bose and Zico Dasgupta
Whether the demonetisation scheme declared through the November 8 notification qualifies as a fiscal or economic policy is a vital question that merits the attention of the Supreme Court.
Demonetisation and Banks' Lending Rates
13 December, 2016, Prabhat Patnaik
The linking of demonetisation with a fall in banksí lending rates is illogical and just a false propaganda of the ruling party to mislead people.

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