Instead of engineering a growth acceleration to go with a demographic dividend, policymakers have allowed growth to slow
The government has a perennial problem of failure to raise adequate tax revenues. Periodically, it resorts to “tax terrorism,” which only creates more uncertainty and damages growth.
15th Finance Commission terms tilt fiscal scales in favour of the Centre
The last Union Budget was somewhat timid, perhaps, given the growth slowdown, but recent economic policy changes have shown more willingness to respond vigorously to the problem.
Explained: What will India’s bank mergers fix?
The issues that the recent merger of PSBs address are only the tip of the iceberg of the financial sector reform that India desperately needs.
The red herring in Jammu and Kashmir
The claim that the government’s recent political actions have anything positive to do with economic development lacks any basis in experience or theory
Policy environment for savings in India is sub-optimal
The battles with RBI on this front have also not helped. Efforts to attract foreign investors will also not achieve too much until the financial sector and corporate balance sheets are cleaned up.
Budget 2019: What sets Nirmala Sitharaman’s maiden Budget apart?
Budget 2019 India: The big picture of the Union Budget is a continuing increase in trust with respect to the private sector and foreign economic actors, but still not enough trust in India’s own people and the governance ch
Budget 2019: Surveying India’s economic strategy
Union Budget 2019: The protectionist aspects of the Budget, with higher tariffs on many goods, seem to be at odds with the kind of economic openness to the world that would support higher growth
Governance challenge for India
The list of economic challenges does not stop with these four, but it is more important to understand the governance structures that make these and other reform areas challenging, before lengthening to-do lists.
Economic challenges for the new government
The four major challenges are fixing the country’s financial sector, especially its banks; continuing to reform the tax system; reducing outflows of funds due to loss-making or inefficient government enterprises; and truly
What did we learn from the 2019 Lok Sabha elections?
We learned that many Indian voters are willing, at least temporarily, to put aside concerns about their material well-being, in order to follow more elemental desires for security and feelings of belonging. But we did not lea
India’s election campaign was unhappy one – here’s why
The election campaign was an unhappy one, highlighting external threats, and creating internal ones where they do or need not exist.
Why India is so unhappy — Explained
India’s ranking, already low, slid further in the latest report, and stands at 140 out of 156 countries. To rub salt in this reputational wound, Pakistan ranks much higher, at 67th.
How India can address national leadership deficit
Perhaps it is fair to say that competition for political leadership is more robust at the regional level. Therefore, one systemic way to deal with India’s national leadership deficit is to give subnational governments more
Who will rule India? Real difference in 2019 polls will be outside pure economics, in human rights
In 2014, the BJP showed it could conduct a campaign that was more sophisticated than anything India had seen before. Now, incumbency, money, friendly media, lessons from previous success, and boots on the ground all favour ru
Courting economic failure
Improving contract enforcement in India will have large benefits for economic performance and cause India to rise further in the EoDB rankings
Where is the growth? Policymakers not able to make clear assessment of where India’s opportunities are
Indian policymakers just do not seem able to make a clear enough assessment of where growth will occur, where India’s opportunities are, and how to create a playing field in which the most dynamic and well-run Indian firms
Lessons of India’s budget
The Budget displayed a maturity and rationality of thought and action in terms of basic public finance policies. Within the economic sphere, what India still needs is careful rethinking of the balances and boundaries between
Understanding political economy for India’s future growth
Decentralisation needs to extend to India’s cities, which also need better governance, and which will be the focal points for future economic growth.
Fixing India’s industrial dynamics by policy action and reform
“An Economic Strategy for India” covers many important areas of policy action and reform, but it does not bring all the pieces together where it matters, in creating conditions where firms will be established at higher ra
An economic strategy for India; here is what government must look into
The need is to fix stressed sectors quickly—these are agriculture, infrastructure (including power), exports and banking.
RBI: An own goal or brilliant save? The RBI-Government saga continues to grab headlines
An RBI caught in the midst of a govt trying to boost its political fortunes through populism will emerge as a damaged institution.
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
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,
How 2018 Economics Nobel prize brought together two different yet complimentary streams
The two prize recipients illustrate different, but complementary ways of doing economics
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.
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.
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.
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BUDGET 2019
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