Meghnad Desai

Articles By Meghnad Desai

126 Articles

Vikram and Vikaas: Where will the economy go next?

Economic data are subject to large measurement errors. So, 5% is really somewhere between 4% and 6%. Those who fancy they are driving the economy have fuzzy, steamed-up front-view, but even their rear-view mirror is hazy.

Vikram, Vikaas, Chandrayaan-2, Sensex, Nifty, Indian economy, opinion news

Kashmir: No longer a bilateral issue, but a global concern

After 1989, when the Taliban and related Islamist terror organisations poured in from across the border, J&K was ethnically cleansed of Pandits as New Delhi watched.

Security personnel divert traffic during restrictions in Srinagar. Normal life remains affected since August 5 due to restrictions and shutdown after Centre abrogated Article 370 (PTI) News

Indian economy: Growth and cycles

Concurring with the view that the economic slowdown was cyclical, the recent Reserve Bank of India analysis called the three-quarter slide a down phase, but not a trend reversal

Indian economy, GDP growth, FDI, NDA government, Reserve Bank of India, Nirmala Sitharaman, economy policy, Shaktikanta Das  News

Mohan Bhagwat’s reservation poser needs a debate

Bhagwat wishes all reservations would wither away and Hindus could be a single people.

Opinion News

Economic slowdown: Back to Hindu rate of growth?

The ideological core of the BJP cares nothing about economics. It wants to build a Hindu Rashtra and along that path, they have marked goals such as Ram Mandir, Gau Raksha, Hinduisation of the education curriculum, putting Hi

Economic slowdown, Hindu, rate of growth, growth rate, financial express editorial, financial express, Narendra Modi, BJP News

Lok Sabha election results have established BJP as party of the 21st century

The Modi-Shah team obtained a two-thirds majority in the Rajya Sabha and a better than 5:1 majority in the Lok Sabha, which would suffice for a constitutional amendment.

Lok Sabha, Lok Sabha election, Lok Sabha election results, BJP, Modi 2.0, Article 370, Jammu and Kashmir News

Brexit and Boris Johnson: How to create a crisis to solve another

The real danger of Brexit is uncertainty. Is Boris Johnson bluffing just to make the EU give him a better deal or is he serious?

boris johnson, european union, Theresa May, UK Lawmakers, United Kingdom, British, Brexit, Brexit deal, News

Air India, PSU banks, any enterprise wasting public money should be sold off

With the mandate Modi has received, he must deliver on his promise of cutting govt presence in business. Air India, PSU banks, hotels—any enterprise wasting taxpayer money should be sold off.

Opinion News

Budget 2019: Nirmala Sitharaman’s focus was on long-run developmental goals, not short-run political gains

Union Budget 2019: The Budget was for the long term and concerned with growth. Issues of water, energy, and environment (e-vehicles) were put in the front.

Budget 2019, budget, startups,budget highlights, budget 2019 date, budget 2019 PDF, budget 2019 highlights, budget 2019 income tax, budget highlights 2019 india News

Budget blues: Why govt isn’t the sole determinant of economic growth

Budget 2019-20: Indian politicians and economic commentators put too much faith in the idea that the government is the sole determinant of growth or stagnation.

Union Budget 2019 India, Budget 2019 India, Budget 2019-20 News

Economy or employment: Why numbers don’t tell the whole story

India used to enjoy a good reputation with regard to the quality of its statistical services

indian economy, GDP, BJP, growth rate of GDP, narendra modi, data quality, demonetisation, jobs famine, farmers distress, economic policy, RBI News

Digitise the vote: No reason why, by next Lok Sabha polls, India shouldn’t have made casting votes remotely possible

There is no reason why, by the next general election, India shouldn't have made casting votes remotely possible. In fact, it will save a lot of election-related expenditure.

Opinion News

Fintech is redefining financial services landscape in unprecedented ways

Whatever the conceptual problems, monetary policy won pride of place, and a Great Moderation prevailed between Keynesians and Monetarists.

Fintech, financial services landscape, oil price, monetary policy, hyperinflation, Bitcoin, Cryptocurrencies, retail banking News

Why Modi could win the upcoming Lok Sabha election

Modi has delivered more than growth and low inflation—no previous government prioritised cleanliness/sanitation or a cleaner alternative to burning coal/wood for cooking that affects women’s health.

Modi has won the political ideological war outright (File photo) News

Brexit: A minor miracle is required to come to a decision in time

No proposal may again command majority. Then the UK falls out without a deal and without a transition period on April 12. If so, the economic consequences are the least of the problems.

Opinion News

Why opposition feels it has lost the best chance of defeating Modi

Opposition feels it has lost its best chance of defeating Modi. BJP, on the other hand, is secretly happy that all ‘real’ issues can be forgotten.

Opinion News

To retaliate against Pakistan, what choices does India have?

What the Army will do is quite properly a secret and no amount of outside advice is going to matter. It will, however, alter the dynamics of the election and has to, thus, be of limited duration.

To retaliate against Pakistan, what choices does India have? News

Modi vs Grand coalition: What will the 2019 Lok Sabha election be about?

The difference between the two sides is not so much in economic ideology but in execution of programmes. Modi has been criticised for over-promising but he has not underachieved relative to the UPA-II.

pm narendra modi, narendra modi, upa , nda, grand alliance, bjp News

Jobs puzzle: Confusion over use of flexible vs formal jobs in calculation

If the economy has been growing at 7% on average for five years, a 10% drop in employment would imply a 17% rise in labour productivity which would be the highest ever in the world

Opinion News

Brexit is a lesson in democracy

Theresa May could establish a majority if she can attract the support of the Remainers with a compromise solution, isolating the hard Brexiteers.

Opinion News

A sad anniversary: 50 years of bank nationalisation

It’s been 50 years since bank nationalisation and it would have made more sense to provide private commercial banks incentives to open rural branches rather than nationalise them

private banks incentives, rural branches, bank nationalisation, NPA, PSU banks News

A new game: New year starts with a bang as PM Narendra Modi gives 90-minute interview, says Meghnad Desai

The central issue of the interview was the Prime Minister as he is of the forthcoming election.

Narendra Modi, Narendra Modi interview, NDA allies, NCP, Supreme Court, Shiv Sena, modi ANI interview News

Loan waivers: Rahul is wrong, so is Modi

Debt cancellation does not solve the problem of farmers' distress but exacerbates it because it reinforces overproduction and loss making. It may be politically appealing but is economic nonsense.

loan waiver, farm loan waiver, farm loan News

The GDP game: Achieving high growth rate enough? What about factors like inflation and wage growth

There is a wonderful naïveté about the desire to register not just a high growth rate but one higher than the one the previous government achieved

Opinion News

Bipartosanship calls: What Indian politicians should learn from UK

There are no platforms to debate development or Kashmir or China policy. No debate of national interest and no politics in fact.

Opinion News

Brexit challenge facing the UK – No deal meant no movement of goods across the EU

No deal meant no movement of goods across the EU. Delays would be endemic. Fruits, vegetables, vital medicines and fuel deliveries would all be delayed as checks would be required.

Brexit, Japan, Great Britain, uk, eu, european union News

RBI vs Government: Quantum of reserves is technical aspect, a referee is needed to resolve the crisis

Since the GOI does not agree with RBI, the only way to answer the question is to consult an outside expert who has done a similar task for another monetary authority.

rbi, central bank, modi government, inflation News