search
 
 
All Results Current Issues Features Analysis Policy Watch Announcements
Search Results   Click here for advanced search
Click here for advanced search
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”.
A Simple Arithmetic
25 May, 2017, Prabhat Patnaik
The advance GDP estimates for 2016-17, however calculated,show a grim picture of the economy. The real per capita income of the agriculture-dependent population, which constitutes half the country's populace, has remained stagnant or even marginally declined during the three years of the Modi government. While the pursuit of neoliberal policies can be held responsible for this, treating the aggregate growth as a “great achievement” for political mileage is unwarranted.
The De-digitisation of India
25 April, 2017, C.P. Chandrasekhar & Jayati Ghosh
Despite the government’s efforts to digitise the Indian economy forcibly, non-cash forms of payment appear to have declined as more currency has been made available to the public. This points to major flaws in the government’s coercive approach and the underlying rationale for cashlessness.
Industrial Growth and Demonetization
24 April, 2017, Prabhat Patnaik
Recent data on the manufacturing sector dispel all the lies that government propaganda has been peddling of late about demonetization having had no recessionary effect.
Demonetisation Decoded: A critique of India's currency experiment
12 April, 2017, Jayati Ghosh, C.P. Chandrasekhar and Prabhat Patnaik
In a surprise move, on November 8, 2016, the Indian government announced that the currency notes of Rs 500 and Rs 1000 denomination cease to be legal tender from the midnight of that very date. The arguments advanced in support of the move was that this would root out black money and take care of counterfeiting of currencies; however, withdrawing more than 85 per cent of the currency notes in circulation has been a major hit on India’s poor and lower middle classes.
Narendra Modi on Poverty
20 March, 2017, Prabhat Patnaik
When Narendra Modi talks of shifting away from giving doles to the poor, what he has in mind is that the money being currently used for welfare schemes for the poor should be withdrawn from such schemes and handed over to the corporate magnates.
Quarterly GDP Estimates: Curiouser and curiouser
02 March, 2017, Jayati Ghosh
CSO's latest GDP estimates for the third quarter throw up some real surprises as these run counter to all the evidence of depressed demand, of massive drops in sales, of job losses and of a significant hit especially on small scale and informal manufactured goods producers following demonetisation.
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.
Digital Dreams
21 December, 2016, Jayati Ghosh
The government’s 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.
Demonetisation and Banks' Lending Rates
13 December, 2016, Prabhat Patnaik
The linking of demonetisation with a fall in banks’ lending rates is illogical and just a false propaganda of the ruling party to mislead people.
Demonetization as the Basis for a Fiscal Stimulus
07 December, 2016, Prabhat Patnaik
What the BJP spokespersons are putting forward that the cash which gets disabled in the black economy would enable the government to spend more on infrastructure or provide cash transfers to the people is sheer deception.
Demonetization as a Means of Fighting "Black Money"
06 December, 2016, Prabhat Patnaik
It is very obvious by now that demonetization, far from being an attack on the black economy, has in effect turned out to be an attack on the vulnerable informal segment of the white economy.
Demonetization: Illusory Gains, Enduring Damages
18 November, 2016, Arindam Banerjee
The depressive economic cycle that has been immediately generated by the demonetization measure will not be mitigated within a few months as the government mistakenly assumes. It will have longer and deeper consequences for inequality and under-development in the Indian economy.
Interview with TM Thomas Isaac on Demonetisation
18 November, 2016,
In an interview to Scroll.in, economics professor turned Finance Minister of Kerala, TM Thomas Isaac said that the secrecy surrounding the demonetisation was a blow to cooperative federalism, where the state and centre work collectively, and the move would not have a serious impact on tax evaders.
Modi's Demonetisation Move may have permanently damaged India's Informal Sector
17 November, 2016, Pronab Sen
The author explains how the recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently while doing nothing to curb either corruption or tax evasion.
Developing "Infrastructure"
25 October, 2016, Prabhat Patnaik
One can intervene in income distribution in an egalitarian direction by restraining the investment in infrastructure that is met at the expense of other socially-pressing needs and rationing the infrastructure in question.
Rajan's Exit
15 September, 2016, Prabhat Patnaik
The reason for the government’s dithering over an extension of Raghuram Rajan’s term, which led to his decision not to ask for one, cannot be attributed to his stance on interest rates.
Budget 2016-17: Hype is all
15 March, 2016, Prabhat Patnaik
Behind all the hype about a pro-poor budget, the actual provisions of the government for the major social sectors are found to be too paltry to improve the lives of the poor.
Why do we have Unemployment?
14 March, 2016, Prabhat Patnaik
Under neoliberal capitalism, where the level of activity requires bubbles to sustain itself, the existence of unemployment must be attributed to the paucity of aggregate demand.

Site optimised for 800 x 600 and above for Internet Explorer 5 and above
© MACROSCAN 2017