Jayati Ghosh In terms of economic vision, it has always been difficult to make sense of the Narendra Modi government. The previous five years were hardly inspiring in economic terms: relatively little was done in terms of positive changes to address the major problems in the economy....
C. P. Chandrasekhar Facebook has launched a process that would lead to the creation of a new cryptocurrency, “Libra”, in the first half of 2020. Named after a unit of weight used in ancient Rome, Facebook hopes Libra would become the dominant measure of value...
Dipankar Dasgupta Chapter 01 of Volume 1 of The Economic Survey 2018-19 (tabled on 4 July, 2019) contains the following statement: “To achieve the objective of becoming a $5 trillion economy by 2024-25, as laid down by the Prime Minister, India needs to sustain a real...
C. P. Chandrasekhar Besides slowing growth and record unemployment, a major problem facing Indian policy makers is the fragility characterising the financial sector. With public sector banks still burdened with large non-performing assets (NPAs) and two major non-bank financial companies (NBFCs) bankrupt or near-insolvent, credit flow...
Prabhat Patnaik It is clear by now that the figures provided in the 2019-20 budget are palpably unfounded. The budget has concealed the actual receipts and expenditures for 2018-19 even though these were available, because they show huge shortfalls compared to the budget estimates for that...
Sunanda Sen The Central government’s Budget has been unsuccessful in providing the country with commitments to ensure growth or welfare. Given the current state of poverty, farmer distress and jobless growth in the economy, it could be expected of a democratically-elected government to initiate welfare measures...
Tejvan Pettinger Bank run definition A bank run occurs when there is a sudden demand to withdraw money from a bank, that the commercial bank struggles to meet. The first signs of ‘bank panic’ will encourage other depositors to also try and withdraw their savings, causing a...
Vikas Rawal and Prachi Bansal The central government has finally allowed the release of the report of the 2017-18 Periodic Labour Force Survey. The previous government had blocked its release before elections because the survey showed a massive increase in the unemployment rate, worst in the...
Tejvan Pettinger Readers question: Keeping a lower deficit of the National Budget would benefit Americans as interest rates would remain stable and allow new businesses to grow. Would you say this statement is correct? In theory, there is an argument that a rising deficit can cause a...
Tejvan Pettinger Readers Question: To what extent does the trade war between USA and China actually impact on the economies of other nations? A trade war between the US and China is concerning for other countries because a trade war can precipitate a fall in global trade,...