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Modicare: A revolutionary step or a 'giant leap backwards'?
18 October, 2018, Rohit Azad and Subhanil Chowdhury
PM Modi’s signature Ayushman Bharat programme launched on Sept 23, 2018 has been touted by most in the mainstream media as nothing short of a revolution with some calling it the biggest healthcare programme in the world. Is that so? How does Modicare square with, among others, say Obamacare, ostensibly the inspiration behind the Ayushman Bharat scheme. Two, is insurance better than universal public health care?
Understanding Farmers' Rage
03 October, 2018, Jayati Ghosh
The recent eruption of farmers’ agitations across India is another case in the current phase of rural discontent. While the anger of the cultivators is being expressed in local, regional and national agitations, the much-hyped official attempts to placate farmers have turned out to be only more jumlas.
Ostrich-like in Peacock Nation
01 October, 2018, C.P. Chandrasekhar
In the midst of a crisis reflected in a collapsing rupee, India’s BJP government is acting ostrich-like, burying its head in the ground. Nothing illustrates this better than its much-delayed response to the collapse of the rupee with a set of measures that are the opposite of what is needed.
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.
The Indian Economy in a Tailspin
24 September, 2018, Prabhat Patnaik
A combination of direct import controls on inessential items, reduction of petro-product prices, measures for reducing the consumption of such products, and direct taxation, especially on wealth, is the obvious way of getting out of the tailspin in which the Indian economy is currently caught. There is no alternative to these measures if we are to avoid the fate of countries that eventually run to the IMF and get caught in the vice-like grip of “austerity”.
Women's work in India
07 September, 2018, Jayati Ghosh
The decline in workforce participation by women in India reflects shift from paid to unpaid work. In the absence of basic amenities, a greater proportion of women are engaged in fetching water, collecting fuel for cooking. Once we take into account these unpaid and socially unrecognised activities done by women, it is found that workforce participation of women is greater than men.
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.
Empty Promises
18 July, 2018, C.P. Chandrasekhar
Together with measures like loan write-offs offered by some BJP States and an ostensibly much-improved crop insurance scheme (PMFBY), this hike in MSPs is seen to have confirmed the pro-farmer tilt of the Narendra Modi government. The timing of the Modi government’s MSP hike for kharif crops leads to the question of whether it is backed by the financial allocations needed to deliver on them.
The Indiscreet Aggression of the Bourgeoisie
04 July, 2018, C.P. Chandrasekhar
The financial crisis and a subsequent period of recession affecting the majority population in economies points to the fact that neoliberal economic policy might have lost its legitimacy. On the contrast, a change in mood with Brexit and Trump’s victory might not be subsequent setbacks with a new aggression on part of the neoliberal elite. Today, across the world, big business is attempting to influence economic decision-making in ways that can save the neoliberal project from collapse.
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 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.
Shadow cast by the rupee
07 June, 2018, C.P. Chandrasekhar
The rupee has sharply depreciated in the recent weeks giving reason for concern. The external events of rise in oil prices and rate of interest in advanced economies has led to a surge in the current account deficit and capital outflows respectively. The success of 'the liberalization reforms' lies in the huge capital inflows and thus, has enhanced the periodic bouts of the rupee, hinting to symptoms of a bubble economy.
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.
Wisdom, For The People
03 May, 2018, Prabhat Patnaik
Ashok Mitra will be remembered above all as a strong champion of the rights of states. He played a major role in exposing the high degree of centralisation of powers and resources that existed in the country and went almost unnoticed. In his death, the country has lost a person of great wisdom, for whom the interests of its working people always came first.
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.
The Prospect of Food Shortage
09 April, 2018, Prabhat Patnaik
Contrary to the fears of orthodox economics, persistent and even growing hunger in the world today arises not due to “excessive population” but due to the social arrangement; not because there is too little output relative to population but because there is too little demand relative to output.
Trump's Protectionism
26 March, 2018, Prabhat Patnaik
Trumps' announcement of tariff hike tantamount to a beggar-thy-neighbor policy that would inevitably attract retaliation. But these current protectionist measures on capital-in-production do not in any way restrict capital-as-finance. They are just desperate and counter-productive attempts at coping with a crisis, which is itself an outcome of the process of globalization of finance.
State or Market?: India's telecom wars
17 March, 2018, C.P. Chandrasekhar
The entry of Reliance Jio in the telecom industry has unleashed an aggressive price war, resulting in takeovers, mergers and closures owing to large debts, spectrum charge dues and falling revenues.
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.

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