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The Invisible Class
20 June, 2018, Prabhat Patnaik
The peasantry has been dubbed as the ‘invisible class ‘for the simple reason that it has been outrightly ignored. A basic comparison of the per capita GDP of this invisible class across two years using the Economic Survey 2017-18 gives veracity to these claims.
The Misplaced Growth Discourse
05 June, 2018, C.P. Chandrasekhar & Jayati Ghosh
A close look at the nature of recent high growth rates provides ample cause for caution. The growth shows absence of dynamism and focus is on a few service sectors. It is being driven by consumption expenditure rather than investment which signals a probably fragile and unstable growth process.
The Modi Government's "Achievement"
03 June, 2018, Prabhat Patnaik
Concluding the four years of Modi government is an unparalleled process of social and political retrogression in the country. A look at the declining per capita real income in agriculture and privatization of education and other essential services points at an expedition of neo-liberal tendencies during the Modi regime.
National income in India: What’s really growing?
28 February, 2018, C.P. Chandrasekhar & Jayati Ghosh
Recent income growth in India has been dominated by sectors that do not reflect real physical output increases – such as finance, insurance and real estate and public administration and defence.
Strangulating the Informal Economy
12 October, 2017, Prabhat Patnaik
The current slowdown in the economy, aggravated by the persistent world economic crisis, has much to do with the twin coercive instruments of demonetisation and GST wielded by the state to strangulate the informal economy in a bid to formalise it.
Economy Plunging Headlong into Recession
16 August, 2017, Prabhat Patnaik
The few days old Volume II of the Economic Survey by Ministry of Finance shows a GVA growth rate much less than that of the previous year, and that too artificially boosted by seasonal variations in non-core sectors. This deceleration is most likely to continue, with growing NPAs and plunging exports, and interest rate cuts will not help in a demand-constrained economy unless the government starts thinking beyond “fiscal rectitude”.
The Latest GDP Estimates
13 March, 2017, Prabhat Patnaik
The article discusses the possible reasons for the latest GDP estimates provided by the CSO not capturing the recessionary impact of demonetization which is an indisputable and established fact.
Finance Capital and the Nature of Capitalism in India Today
25 November, 2016, C.P. Chandrasekhar
This article explains how the growing dependence on foreign finance capital has distorted India’s growth. Due to the accumulated presence of foreign capital in the country since liberalisation, it is turning moribund and losing sovereignty.
How is India Inc Doing?
28 October, 2016, C.P. Chandrasekhar
The scenario of Inida’s manufacturing sector seems to be one where the sector, when considered as a whole, is settling for higher profits even at the expense of lower sales volumes.
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

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