Interim Budget 2019-20
The great Budget "Cash for Votes" Scam - and other Cash Transfer Schemes
Feb 15th 2019, Jayati Ghosh

The proposed cash transfer to farmers on election-eve is a poorly imagined scheme that is likely to have little positive impact. An alternative to it is the provision of universal basic services, universal employment guarantee and universal pensions.

Budgetary Sops Will Do Little to Fix Unemployment and Poverty in India
Feb 5th 2019, Sunanda Sen

The Budget sops will not provide a solution to problems of poverty and unemployment in India, which result from structural changes creating a mass of unutilised and underutilised labour force.

Budget 2019-20: Will it help India's farmers?
Feb 4th 2019, Jayati Ghosh

The interim budget 2019-20 is unlikely to bring relief to farmers and secure their approval for the coming elections. The approach to farmers in this Budget reaffirms the Modi government's tendency to rely on optics and jumlas rather than actual spending and concrete policies.

Science and Subterfuge in Economics
Feb 15th 2019, Jayati Ghosh

John Kenneth Galbraith noted in 1973 that establishment economics had become the "invaluable ally of those whose exercise of power depends on an acquiescent public." If anything, economists' embrace of that role has grown stronger since then.

On the Proposal for A Universal Basic Income
Feb 1st 2019, Prabhat Patnaik

Income support through 'universal basic income' has to be in addition to the existing welfare schemes and not replace these schemes. The expansion of public delivery of good quality basic services remains essential.

The Skewed Structure of India's Bond Market
Feb 12th 2019, C.P. Chandrasekhar and Jayati Ghosh
In trying to deal with large volumes of bad debt, especially corporate debt owed to the banking system, measures to activate the corporate debt market are being pushed. But experience suggests that investors are unlikely to bite.
Social Responsibility of Intellectuals in Building Counter-Hegemonies
Feb 4th 2019, Issa Shivji
In a period of upsurge of fascism, narrow nationalism and parochialism, Issa Shivji calls for the social responsibility of intellectuals to construct a counter-hegemonic project that would resonate with the lives of the vast majority.
The Strange form of "Disinvestment"
Jan 30th, 2019, C.P. Chandrasekhar
Under the NDA government disinvestment is increasingly turning out to be a process in which surpluses are wrung out of PSEs or government linked institutions to support the budget, instead of the usual route of sale to private buyers. Apart from adversely affecting the modernization and expansion plans of PSEs, this change in the nature of disinvestment does not enable the government to raise its expenditure to the desired levels in a pre-election year.
The Mistaken Obsession with the Fiscal Deficit
Jan 29th, 2019, C.P. Chandrasekhar and Jayati Ghosh

The central government regularly fudges fiscal data, to pretend to meet the FRBM Act targets. This messes up public companies, but does it really matter for the macroeconomy?

Jayati Ghosh on the Employment Crisis and Lack of Effective Demand in India
Jan 21st, 2019

Jayati Ghosh speaks on the employment crisis, which is essentially the result of inadequate demand in India. Labour-displacing technological change is a problem not in itself but because it occurs in a neoliberal economic context, in which public spending on employment-intensive activities is constrained.
Can the RBIís 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.
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.

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