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
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.
India: A glass half full or half empty?
It may be that double-digit growth can only be achieved with greater inclusiveness
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.
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.
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,
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.
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
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.
Coastal Economic Zones: India must learn from China
Talent, finance and innovation are relatively neglected in the Indian policy framings on CEZs.
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.
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.
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.
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
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.
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.
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
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
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.
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.
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
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.
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.
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