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The State of the Economy
23 July, 2018, Prabhat Patnaik
The Indian Economy is facing remarkable combination of stagnation, inflation and a burgeoning trade deficit which has been erroneously attributed to the rise in oil prices alone.
The Gathering Storm Clouds
28 May, 2018, Praveen Jha & Amit Chakraborty
The Indian Economy has all along been critically dependent upon the inflow of speculative finance to sustain its balance of payment. It now faces threatening prospects of a spiral as international crude oil prices and U.S. interest rates, that kept its import bill restricted, are on the rise.
Once again, the oil price scare
22 May, 2018, C.P. Chandrasekhar & Jayati Ghosh
As oil prices rise again, countries like India that had benefited from relatively low prices in recent years have to reconsider their growth and macroeconomic strategies.
The return of the oil threat
11 May, 2018, C.P. Chandrasekhar
As oil-producing countries, especially Saudi Arabia and Russia, stick to their reduced outputs and as Trump threatens to isolate Iran with sanctions once again, the spectre of high oil prices and the accompanying inflation seem very real.
A Different Oil Shock
04 February, 2016, C.P. Chandrasekhar
Given the magnitude of the oil price fall, the world economy seems set for a deflationary crisis rather than expansionary deflation.
Skating on Thin Ice
01 June, 2015, Prabhat Patnaik
Indian economy, under the first year of Modi’s rule, has experienced massive attack on the welfare programmes, sluggish growth of exports and an increase in the trade deficit.
The Modi Government's Economic Strategy
19 March, 2015, C.P. Chandrasekhar
In its pursuit of pushing ahead with the neoliberal agenda, the government is willing to adopt measures which, as evidence suggests, would fail as strategy.
Oil: The big 100 per cent story
02 February, 2015, C.P. Chandrasekhar & Jayati Ghosh
In a puzzling development, some financial markets registered a decline in the wake of the recent dramatic fall in oil prices. So, is the oil price fall not all good news?
Exploiting the Oil Price Crash
30 October, 2014, C.P. Chandrasekhar & Jayati Ghosh
The government has decided to exploit the recent sharp decline in oil prices to push deregulation. But this may not help growth nor prove wise in the medium term.
The Missing Honeymoon
09 July, 2014, C.P. Chandrasekhar
The government's decisiveness in ensuring quick clearances for big, infrastructure projects would please the corporate sector and private capital, but not the rest of India.
India's External Resilience
17 June, 2014, C.P. Chandrasekhar & Jayati Ghosh
The fall in the current account deficit of India may seem heartening but this is possibly because of a temporary respite in the areas where India’s vulnerability resides.
The Falling, Falling…Rupee
28 June, 2013, Jayati Ghosh
The falling rupee that has an immediate inflationary impact is not the result of global forces or US monetary policy, but of domestic economic mismanagement.
On Deregulation in the Petroleum Sector in India
17 October, 2012, Surajit Das
The policy of oil price deregulation in the face of rising international price of oil would have direct detrimental effects on growth, inflation and 'macroeconomic stability'.
The Blame Game around Oil
13 June, 2012, C.P. Chandrasekhar
It is not that the UPA government is running out of alternatives to tackle the woes caused by the oil and currency shocks. The absence of decisive policies and lack of inner consensus have trapped the government in a debate on who would bear the burden and how the burden should be shared. A combination of subsidies and tax reforms can address the issue. But it calls for easing the grip of neoliberal thinking over the UPA.
The Age of "High" Oil
09 March, 2012, C.P. Chandrasekhar & Jayati Ghosh
The recent spike in the international prices of oil suggests that the recession-induced dip in oil prices may be behind us. Political uncertainty and financial speculation have trapped the world in a regime of high and rising oil prices.
Policy Inertia, Oil and Inflation
04 August, 2011, C.P. Chandrasekhar
The Union government's reluctance to look for alternate measures to ease oil price rise fuelled by international shocks reflects a policy inertia stemming from its deep faith in the market mechanism. However the state governments and the consumers who have to bear the additional burden of such price hikes are at the receiving end.
Global Oil Prices
13 July, 2011, Jayati Ghosh
Recent price changes in global oil markets are increasingly affected by forces that have more to do with financial speculation and expectations than with current movements in demand and supply. In the current oil price surge, the real gainers are the financial speculators in oil futures markets and the big oil companies.
Engineered Inflation
02 August, 2010, C.P. Chandrasekhar
With prices of essentials already on the rise, the move to hike petroleum product prices threatens to make inflation the country’s principal economic problem. This will have serious future implications with an aggravation of inflationary trends that currently burden the common person, and the success of the July 5 bandh was a reflection of a strong public expression of anger and opposition to the move. But why the government is adopting such policies that transfer most of the burden onto the aam aadmi and aggravate inflation need to be assessed.
The Oil Price Hike
28 June, 2010, Jayati Ghosh
What on earth are they thinking? In the midst of an almost unprecedented and continuous increase in the price of necessities, which is increasingly translating into generalised inflation, the UPA government has chosen to ''free'' the price of petroleum products, to bring them in line with international prices.
Sending the Money Home
15 September, 2009, C.P. Chandrasekhar
Remittances have been and remain a major source of strength for the Indian economy, especially for its balance of payments. Given the accumulated stock of migrants abroad, this is unlikely to change very soon, even if some are forced to return due to the effects of the crisis on employment contracts.

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