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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.
The Economic Survey 2017-18
04 February, 2018, Prabhat Patnaik
Like the person on the proverbial tiger, the Indian economy is currently riding a precarious course. The Government of India’s Economic Survey for 2017-18 recognizes this frankly, but its panacea is to keep one’s fingers crossed and hope that the ride continues.
Budget 2018: The Finance Ministry's Grey Shades of 'Pink'
02 February, 2018, Jayati Ghosh
Even the vaguely “pink” effort in the Economic Survey is whitewashed in the finance minister’s Budget speech that is heavily based on stereotypical gender roles for women, and even that completely disappears when we get to the actual budget allocations.
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 Dramatic Rise in Wealth Inequality
25 January, 2018, Prabhat Patnaik
Notwithstanding the statistical difficulties associated with the estimates of wealth distribution, there is no gainsaying the fact that something extremely serious for our democracy and freedom is occurring through the extraordinary rise in wealth inequality, as a result of the pursuit of unrestrained neo-liberal economic policies by the present government.
The Airtel-Aadhaar Fix
10 January, 2018, C.P. Chandrasekhar
Airtel is let off lightly by the government despite being in clear violation of the law in a case that exposes the flaws and dangers in the ecosystem surrounding Aadhaar.
A Year of Wilful Economic Disaster
08 January, 2018, Prabhat Patnaik
The uniqueness of 2017 lies in the fact that never before has the country seen a government-caused economic crisis as serious as was witnessed in this year.

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