search
 
 
All Results Current Issues Features Analysis Policy Watch Announcements
Search Results   Click here for advanced search
Click here for advanced search
Whither Indian Economy?
24 September, 2018, Sunanda Sen
While there are ongoing discussions on rupee depreciation amidst an atmosphere of apprehension about the economy and polity of the country, official sources have continued to deny any possible threat to the economy. The defensive position advanced from the official quarters do not, however, stand scrutiny if one recognises the fact that none of those indicators of a robust economy will be sustainable in the face of slippages running through the economy.
GST: One more NDA failure
24 September, 2018, C.P. Chandrasekhar
From the beginning of its implementation it was clear that under the new tax regime it was unfeasible to have a single tax on all commodities, given the inequality in the country. The multi-tax structure adapted does not simplify the system much, and only promises to do away with the cascading effects of the erstwhile excise duties and sales taxes.
George Soros on The Current Conjuncture
25 June, 2018, Prabhat Patnaik
Factors like the U.S. sucking out finance capital from the rest of the world; the appreciating dollar; the looming crisis for the third world; the refugee problem for Europe are together pushing world capitalism into a serious crisis as put by George Soros. A Marshall plan may save the system but the basic foundations of capitalism are against this proposal.
The Nirav Modi Scandal
23 February, 2018, Prabhat Patnaik
Nirav Modi’s is not a case of crony capitalism supplanting genuine capitalism; it is rather a case of genuine capitalism coming out to display its fundamental unworkability, as a system based on the pursuit of private gain. Having institutional restraints can stem the rot, but not for long.
Bubbles, Stocks and Crashes
21 February, 2018, Prabhat Patnaik
What the current U.S. experience shows is not only the role of bubbles in sustaining the level of activity under a neo-liberal regime, and hence the fact that the lives of millions depend upon the whims of a bunch of speculators, but also the completely evanescent and short-lived character of the booms in this period.
Budget 2018-19: No money where the mouth is
20 February, 2018, C.P. Chandrasekhar
Rhetoric and meagre show of financing aimed at the neglected and marginalized sections, to address the pre-election imperative of the Budget have not even been able to fulfil the irrational fiscal deficit targets of the FM, even with massive disinvestment and absence of fund allocation.
Window Dressing Budgetary Figures
31 January, 2018, C.P. Chandrasekhar
Budget 2018-19 will feature a window dressed Revised Estimate to ensure that the fiscal deficit is on target. The government’s decision to sell its stake in HPCL to ONGC is only one more step in that direction.
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.
Downturn Blues
18 September, 2017, C.P. Chandrasekhar
The most recent deceleration in growth is the result of the inability of the system to sustain the artificial stimuli that the neoliberal policy environment facilitated. It is a problem that does not lend itself to easy resolution.
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”.
Financing Education
08 August, 2017, Prabhat Patnaik
The central governments’ Draft National Education Policy promotes privatization of education to meet its target, which is not only logically absurd but also legitimizes inequality. Solutions like student loans are impractical with educated unemployment, and fee subsidies turn counterproductive. The one efficient way is to extract the private funds through progressive direct tax, but that seems impossible in this neo-liberal era.
The Hamburg Fiasco
19 July, 2017, C.P. Chandrasekhar
There is no sign of any consensus coming out of the G20 on the need for a mix of globally coordinated policies and a fiscal push to pull the world economy out of recession. What we have once again is a set of statements that says everything and therefore nothing.
The Roots of the Agrarian Distress In India
29 June, 2017, C.P. Chandrasekhar
The policy shifts of the reform era have not been in favor of agriculture. Trade liberalisation, deregulation and a greater role for market forces have not benefited the farmer, who is trapped in a persisting crisis. It is time for today's policy makers to recognise their own disconnect, and learn from the evidence at hand.
Interest Rates and the Use of Cash
08 March, 2017, Prabhat Patnaik
It is ironic that under the most advanced form of capitalism today demands are being made which would push us back into the age of gold-money from where mankind had begun its journey into the realm of money.
Budget 2017-18: The Macroeconomic Perspective
03 March, 2017, C.P. Chandrasekhar
One reason why the government chose fiscal consolidation instead of an expansionary budget in the wake of demonetisation is its erroneous belief that demonetisation in itself would deliver fiscal benefits.
Budget 2017-18: Blinded by neoliberalism
27 February, 2017, C.P. Chandrasekhar
All that this government has is its unfounded belief that mere reform in the form of the demonetisation, digitalisation and the GST would deliver growth rather than recession.
Before UBI, We must First Get Social Spending Basics Right
13 February, 2017, Anjana Thampi & Ishan Anand
Providing a UBI in place of existing schemes will not change the fundamentally unequal income distribution in the country. The way to resolve the crisis is a redistribution from the rich to the poor.
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.
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.
Who's Afraid of the Fiscal Deficit?
19 October, 2016, Jayati Ghosh
The FRBM Act has generated one of the biggest practical problems of increasing the propensity of the government in many countries to evade it by making various off-budget expenditures through SPVs and other such devices.

Site optimised for 800 x 600 and above for Internet Explorer 5 and above
© MACROSCAN 2018