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Nirvikar Singh

Articles By Nirvikar Singh

124 Articles

Covid crisis: India will not be ready for growth unless it addresses MSMEs problems

Without addressing the problems of MSMEs, India will not be ready for growth. The pandemic is the fourth negative shock that small businesses in India have faced in recent times

The problems of small business when there are large negative shocks to the economy are not unique to India.

Is India ready for economic growth?

The issue is not one of the quality and impact of economic reforms. It is of what the govt is actually planning and accomplishing in its efforts to engineer an economic recovery from the lockdown

India beyond the coronavirus crisis

India is two months into its economic lockdown meant to control the coronavirus pandemic.

US economy, President Donald Trump, US unemployment rate, America coronavirus pandemic, retail sales, credit card spending

Coronavirus pandemic: India’s response to Covid-19

The current government has not developed a coherent approach to implementing structural economic reforms

Liquidity support measures have been combined with direct income support, making it less obvious what the true immediate impact will be.

Restarting India’s economy efficiently after Coronavirus outbreak

Universal testing, accompanied by targeted quarantining, is the best way to allow as many people as possible to quickly and safely resume normal activities

In earlier columns, I have argued that the Indian economic policy response to the effects of the lockdown has been inadequate.

Economic Policy: India’s biggest challenge in time of Coronavirus

Despite the health impacts of the corona-crisis, the biggest challenge for India will be in terms of economic policy.

India’s Covid 19 crisis response: Challenges are greater, getting money to individuals and firms is not as easy

The prime minister has emphasised the costs of not responding adequately to the coronavirus crisis, saying it could otherwise set the country back by decades.

Contagion, lies, and crises

The corona-crisis has begun with a different sort of contagion than the 2008 financial crisis, but its impact on financial systems and economic activity is similar

Instead, Trump obsessed about the stock market’s behaviour (a symptom far removed from the causes needing attention), his re-election in November, and the “foreign” origins of the virus.

Reading the Economic Survey of India: What’s innovative in this year’s Survey – Explained

The Survey’s recasting of economic growth as “wealth creation” can be appealing, given the positive imagery conjured up by the more materialistic term.

economy, economic survey

Budget and the economy: What can we expect after this Budget?

Union Budget 2020 India: India needs to create many more formal sector jobs than it is doing now, and that means creating many more firms, and growing existing firms more effectively. The Budget did not jettison the long-term

Rethinking India’s economic strategy: Needs for concise document of objectives and priorities

India needs a concise document providing an integrated view of objectives and priorities, along with implications for policy formulation and implementation

Implementing India’s economic strategy: Problems of the architecture of governance in India

Any successful economic strategy will depend on systemic changes in the civil service, regulators, the judicial system, and of course, politicians

Kerala, Himachal Pradesh, Andhra Pradesh, lead performer, Niti Aayog, SDG Index,  Sustainable Development Goal

Lost year: India could have turned a corner in 2019 with political stability and economic recovery

This was a year where India could have turned a corner, with political stability and economic recovery. I

niti aayog, india

Economic slowdown: Crisis or blip?

For India to tackle its economic slowdown, it needs to reverse its impulses for centralisation, needs to be more open, and must create a robust infrastructure for digital communications.

Delhi choking on burned paddy stubble is a national problem

Delhi is choking because the Green Revolution was pushed to the point where it became distortionary and dangerous.

pollution, delhi, pollution, delhi air pollution

The reforms that India needs now to restore and accelerate growth

Political control will be worthless if it is not used for decisive actions, with respect to the economy, which will both restore and accelerate growth

Indian economy, economic reforms, economic reforms of 1991, tax rates, NBFC, financial sector, bankruptcy code, GST, $5 trillion economy

Abhijit Banerjee and Esther Duflo’s Nobel win should act as a lesson for Indian research

One hopes that decision-makers in the Indian government will make administrative data readily available to researchers from all nations for its own development. There is much to be learned from administrative data despite the

Abhijit Banerjee, Esther Duflo, Nobel, Nobel prize, Indian research, Indian academia, Nobel prize in economics, poor economy, 

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.

The biggest priority is a clean up of the financial sector. An overhang of bad debt can kill growth for many years.

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.

NDA government, Narendra modi, modi government, economy, indian economy

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.

Will the costs of the mergers be worthwhile? It is hard to be sure

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

Jammu Kashmir,Jammu Kashmir news, ladakh, article 2=370, kashmir, azad kashmir, pok, financial express, financial express opinion

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.

Policy environment, savings in India, economic growth, Indian economic growth, GDP growth, investment

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

Union Budget, Union Budget 2019, Budget 2019, budget 2019 India, budget 2019-20, private sector, foreign economic actors, India, tax rates, Indian economy

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

Budget 2019, Surveying, India, economic strategy, MSME, growth dynamic, Budget proposals, Economic Survey of India, ESI, policy making.

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.

Governance, India, economic challenges, economic challenges for India, financial sector, tax system, opinion

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

lok sabha elections, lk sabha elections 2019, pm modi, pm narendra modi
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