Nirvikar Singh

Government and RBI: Moving forward – Basic autonomy of RBI does need to be protected

The basic autonomy of RBI does need to be protected. The most serious, and unprecedented violation of this, not to speak of being a bad policy, was demonetisation

Opinion News

RBI vs GoI: Neither Reserve Bank nor the government have done an ideal job of managing the economy

Neither RBI nor the central government has been doing an ideal job of managing key aspects of the economy. If RBI failed in bank regulation when bad loans were being made, the government’s failure to allow or enable banks,

Opinion News

How 2018 Economics Nobel prize brought together two different yet complimentary streams

The two prize recipients illustrate different, but complementary ways of doing economics

Opinion News

The collapse of IL&FS and what it tells us about fixing India’s critical need for infrastructure finance

India has a long way to go in structuring and managing public private partnerships. Doing a better job on that front is essential.

Opinion News

What ails the Indian economy? How India can address its biggest economic problem

At India’s stage of economic and institutional development, kleptocracy in the private and public sector, which is most lucrative for large-scale, long-term investments, is the country’s biggest economic problem.

Indian economy, institutional development, kleptocracy, Public sector, economic problem, opinion News

It’s not at all clear how national welfare is enhanced by fixing the exchange rate

A dilemma is a situation where a difficult choice must be made between two (or more) alternatives.

Opinion News

India: A glass half full or half empty?

It may be that double-digit growth can only be achieved with greater inclusiveness

Opinion News

From Trump’s America: What happens in the US over next few months will have useful lessons for India’s citizens

Donald Trump was elected partly because of the quirks of the American Electoral College system, which can undermine the will of the majority.

Opinion News

Indians in America: the othered 1%

The threatened narrowing of what it means to be American, going beyond any individual, no matter how prominent, will adversely affect Indian Americans, whatever their social status or income level.

Opinion News

Why India needs better management

The financing of firms and the skilling of workers are both activities that can be done more efficiently with better management, catalysing the relaxation of other constraints on the performance of the economy,

world bank, india economy, india News

India is failing at creative destruction

Supporting development of private sector initiatives in training and skilling ought to be an urgent focus of government policy, rather than trying to create an overall taxonomy of jobs and skills.

India News

Looking ahead for India

The next general election is less than a year away, and this is a good time to take stock of where India’s economy might be headed. Recent academic research seems to support the hypothesis that democracies do better than au

Opinion News

Boosting exports: Beyond formalisation – reforming MSME financing

Access to working capital is a major problem for smaller firms, and they habitually get squeezed by their big-company customers.

export, economy News

Coastal Economic Zones: India must learn from China

Talent, finance and innovation are relatively neglected in the Indian policy framings on CEZs.

india, china, economy News

Job creation: Here’s a development mantra for India

Indian economic policy has not allowed firms to be created and to grow and prosper at the levels required for adequate job creation.

job creation, development, india, indian economic policy News

Investing in creating good jobs

Financial sector reforms have to be governed by the goal of increasing the flow of funds to productive and efficient firms, those which can create good jobs by investing well.

jobs, jobs creation, economy, labour News

Job growth in India: Development means creating good jobs

Job growth in India that accompanies output growth is anaemic, although not absent. We need to focus on the process of creating jobs in which workers are more productive.

jobs, jobs in india, jobs creation in india News

Does Sagarmala need to be garland at all?

In my last column, on “good jobs” for India, I noted the importance of scale and complementarities in creating such jobs, and the possibility of focusing on coastal economic zones (CEZs), an idea from Chinese experience

sagarmala, sagar mala project, waterways project, government project News

Creating good jobs for India: Why economic policy has to involve a detailed implementation plan

The basic economic insights are obvious, but tend to get lost in discussions of formal versus informal sector and self-employment versus employment by another person or organisation.

good jobs, india, economic policy india, union budget 2018 News

Budget 2018: Reintroduction of LTCG tax on equities may dampen some froth

Budget 2018: The reintroduction of the long-term capital gains (LTCG) tax on equities may dampen some froth, but if the real economy stays strong, the impact of the tax may just be a little extra revenue for the government.

Budget 2018: The latest Union Budget came in the context of a year made difficult by demonetisation, the introduction of the goods and services tax (GST), and the continuing challenge of dealing with bad loans made by banks to corporations in recent years. News

Why there are not enough Indian firms that are serving India’s middle class

Recently, The Economist magazine featured a prominent article on India’s missing middle class. One point made in the piece was that income distribution in India has become more unequal, and the gains from economic growth ha

economic growth impact on middle class, middle class people economic growth, how economic growth affects middle class people News

Why India needs to grow faster

Else, it will grow slower, as the current rates are not an equilibrium. With the lack of enough good jobs, conflict will derail present growth

Goods and Services Tax, demonetisation, Rajya Sabha, indian economy, air pollution, Japan, china, San Francisco, india, capitalism, job creation,World Bank,  renewable energy News

How to get India’s macroeconomic, microeconomic policies right

An experiment in a single school in a poor area of Delhi showed that the right software can aid learning dramatically. Software can be customised and adaptive to a student’s level and even transitory states.

Opinion News

Keeping Richard Thaler in mind, here is how to make sound economic policy in India

Behavioural nudges may be a part of good economic policymaking, but much more will be involved. Tweets, even if it is a Thaler that sends them, will add nothing.

Richard Thaler,economic policy in India News

From toilets to household finance, this is what successful reform really requires

Economic reform in India has to be about much more than freeing up the market, or getting prices right. Clearly, a horrendously inefficient indirect tax system and inordinately restrictive labour market regulations are two ex

Economic reform, Economic reform in india, open defecation, open defecation in india, household finance, labour market regulations, industrialised countries, Swachh Bharat Abhiyan, policy-makers in india News

Household finance in India: What a shift from informal to formal sector borrowing requires

Finance occupies an awkward place in present-day economic thinking. Much of economic analysis abstracts away from the role that financial intermediation plays in the allocation of resources.

household, household finance, household finance india, formal sector, informal sector News

Renewables vs coal power: Why that is a diversion from the real issue

India is now enthusiastically on board with this effort, and has promised to ramp up installation of capacity for electricity generation from renewable sources such as solar and wind.

Coal, solar, wind, renewable sources, electricity generation News
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