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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.
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 doesn’t appear to be forthcoming.
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.
Time to End the Madness
16 May, 2012, C.P. Chandrasekhar
Irrational insistence on fiscal conservatism has led to widespread growth slowdown not only in the European countries, but also in emerging economies like China and India. The political backlash in major eurozone economies rekindles hope that governments embracing growth stunting fiscal tightening would soon switch back to sound economic policy-making.
Growing Differences in State Per Capita Incomes
15 May, 2012, C.P. Chandrasekhar & Jayati Ghosh
The period of economic liberalisation has been marked by growing differences in per capita incomes across states, although the trend has varied across decades. In this article, the authors examine the evidence on per capita Net Domestic Product at the state level since 1980, and consider some possible explanations for the observed trends.
The Danger of a Double Dip
29 January, 2010, C.P. Chandrasekhar
In the current circumstances, dealing with inflation by tightening monetary policy and exiting from the fiscal stimulus may not be a good idea if the government does not increase its outlays in areas other than wages and salaries in the next fiscal.
Unravelling India's Growth Transition
02 November, 2007, C.P. Chandrasekhar
An appreciating exchange rate, stock market volatility and global pessimism are yet to affect India’s growth story. Figures released by the Central Statistical Organisation at the end of August indicate that GDP grew by 9.3 per cent during the first quarter (April-June) of 2007-08 when compared with the corresponding quarter of 2006-07.
Declining Domestic Investment
24 February, 2003, C. Rammanohar Reddy
It is a measure of the loss of credibility of India's once-renowned official statistics machinery that high or low the Central Statistical Organisation's projections of the growth rate of the Indian economy, the CSO is criticised for the quality of its estimates of the gross domestic product (GDP). In February 2001 and 2002
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.
The Development Disaster
12 February, 2000, Prabhat Patnaik
The decade of the 1990s, about which there has been so much hype, was actually nothing short of an economic development disaster for India, when the real per capita consumption expenditure in rural India went down in absolute terms.

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