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The
Modi government, the RBI governor and the mess that is the Indian
economy |
|
| Dec
11 th 2018, Jayati Ghosh |
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| The
resignation of Urjit Patel from the governorship of RBI raises
questions about what could have possibly caused such a drastic
step. While the tussle between the central bank and the government
provides an immediate context, there is a need to look at
the depth of the mess that the Indian economy finds itself
in. |
|
| On
taking Sides in the RBI-government Stand-off |
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| Nov
27th 2018, C.P. Chandrasekhar |
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| The
government has crossed the red line in recent times, influenced
in part by the mess its policies have created and substantially
by the need to win voter support in the impending elections.
This clearly is an area where the RBIs willingness to stand
up to the government's demands needs appreciation, But these
gestures should not be treated as a spat in which the RBI
is free of blame and only the government is remiss. The central
bank too needs to shed its biased neoliberal perspective and
admit to responsibility for its past acts of commission and
omission that have also contributed to the current mess in
the economy. |
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| The
Emerging International Regime |
| Dec
10th 2018, Prabhat Patnaik |
|
The
world capitalist crisis of reduced aggregate demand and the
protectionism of the U.S. has resulted in a reduced export
demand for world economies. Third world countries face enlarged
trade and current account deficits, to overcome these deficits,
countries like India will have to take measures on their own
level. |
|
| Contemporary
Capitalism and the World of Work |
| Dec
4th 2018, Prabhat Patnaik |
|
Imperialism
remains essential to capitalism in all its phases, although
its instruments may change from one phase of capitalism to
another. When we incorporate imperialism in the Marx's analysis
of the dynamics of capitalism, we resolve the puzzle of fall
in per capita annual total (both direct and indirect) cereal
consumption despite rise in per capita real income. It is
because of rise in world poverty along with rise in per capita
real incomes. |
|
| Is
Shadow Banking a Serious Threat in Emerging Markets? |
| Dec
4th 2018, C.P. Chandrasekhar and Jayati Ghosh |
|
Is
shadow banking in emerging markets the next big trouble spot
for the global financial system? Or is this problem over-hyped? |
| |
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| Can
the RBI’s open Market Operations help the Rupee? |
| Oct
10th 2018, C.P. Chandrasekhar and Jayati Ghosh |
|
The
rupee's slide raises the question of whether India's central
bank should intervene by selling dollars to prop up the currency.
But past experience of such efforts has yielded mixed results,
so other measures may be necessary. |
|
| Ayushman
Bharat |
|
| Oct
1st 2018, Prabhat Patnaik |
|
| The
Modi government's claim of ushering in the largest healthcare
scheme in the world is completely vacuous. The chosen method
of enlarging healthcare access to the poor is wrong both because
of the route chosen (the insurance route which benefits insurance
companies more than it benefits the patients) as well as because
of the ridiculously paltry financial provision. |
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| The
Fall of the Rupee |
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| Sep
25th 2018, Prabhat Patnaik |
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| Falling
rupee requires immediate government action. Awaiting an equilibrium
that never comes would not only keep squeezing the working
people but would eventually make the government run to the
IMF and other financial institutions in panic. Measures like
raising interest rates, fiscal compression, and using foreign
exchange reserves have their own fallouts. There have to be
direct restrictions on inessential imports combined with some
controls on capital outflows. |
|
| The
Indian Economy in A Tailspin |
|
| Sep
24th 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". |
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Professor
C.P. Chandrasekhar on amalgamation of three banks
Sep
24th, 2018
In an attempt to resolve the Non Performing Assets crisis in
the country, the government's projected solution in the form
of bank mergers, like the recent Vijaya Bank, Dena Bank and
Bank of Baroda merger, points out that the end game of this
process is privatization. |
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 |
|
| A
Memorial for Dr. Vineet Kohli, Assistant Professor at TISS and
a Former CESP Student |
|
| Aug
13th 2018. |
|
| Job
Opening at Economic Research Foundation |
|
| Jan
31st 2018. |
