Nirvikar Singh

Articles By Nirvikar Singh

107 Articles

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. News

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 News

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 News

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 News

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 News

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 News

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. News

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 News

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

Opinion News

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 News

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.

Opinion News

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.

Opinion News

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

Opinion News

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

lok sabha elections, lok sabha elections 2019, parliament, nda, upa, bjp, congress News

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

judiciary, judicial system News

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

Opinion News

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

budget, union budget News

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.

Opinion News

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

industrial dynamics, Economic Strategy, entrepreneur, GDP, Indian industry, political economy, agricultural products News

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.

economy, demonetisation, pm narendra modi, narendra modi News

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.

rbi, reserve bank of india News

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