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Contributor : Profile

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Gurbachan Singh

Independent Economist
gurbachan.arti@gmail.com

Gurbachan Singh is an independent economist. He was visiting professor at Ashoka University. For many years, he taught at Indian Statistical Institute (ISI), Delhi Centre, and Jawaharlal Nehru University (JNU). His research is at the interface between finance and macroeconomics. His work is on theory to explain the real world and on policy. He is a keen teacher; his main teaching is on ‘Finance and Volatility’. He is a guest faculty at Management Development Institute (MDI), Gurugram. He received his Ph.D. from ISI Delhi Centre, M.A. from Delhi School of Economics (DSE), and B.A.(Hons.) from Hindu College, University of Delhi. He writes a regular ‘column’ for Business Standard. His other interests include good cinema.

Posts by Gurbachan Singh

Covid-19: Getting fiscal policy right

The textbook answer to financing of additional government expenditure in a recession is that the government should borrow the funds rather than impose a tax. Gurbachan Singh argues that the convention...

  • Perspectives

Covid-19: Reserves to the rescue

On 27 March 2020, the Government of India announced a relief package of Rs. 1.7 trillion to deal with the Covid-19 crisis and its possible adverse effects on the economy. A view put forth by critics i...

  • Perspectives

Raising coverage under deposit insurance: A soft option

Indian Parliament is expected to legislate on a rise in the amount of insurance for bank deposits from Rs. 100,000 to possibly Rs. 500,000 in its ongoing winter session. In this post, Gurbachan Singh ...

  • Perspectives

Does the current economic slowdown warrant a fiscal boost?

The Indian economy is going through an economic slowdown. Several economists have made a case for an expansionary fiscal policy to deal with the slowdown. In this post, Gurbachan Singh argues that it ...

  • Perspectives

Would RBI fund transfer weaken government's financial position?

The Reserve Bank of India (RBI) recently decided to transfer Rs. 1.76 trillion to the Government of India (GOI). If the RBI has inadequate capital, then it should not transfer funds to the GOI. But ev...

  • Perspectives

Huge bank losses, frauds, and economic risks

Banks have incurred humongous losses in India. The public authorities have taken corrective measures primarily in the form of strengthening laws, audits, and the enforcement processes. In this articl...

  • Perspectives

Self-employment: Elephant in the room

While nearly half of the labour force in India is self-employed, persistent low standards of living on a large scale imply that not many of these are ‘entrepreneurs’. Much of the self-employment ...

  • Perspectives

Bubble in bitcoin or elsewhere?

The price of Bitcoin has skyrocketed. Gurbachan Singh contends that there may or may not be a bubble in cryptocurrencies. If there is a bubble, then the prices will fall eventually, and the story will...

  • Perspectives

Recapitalisation of public sector banks, and financial repression

Government of India recently announced its decision to infuse Rs. 2.11 trillion of fresh capital into public sector banks, financed partly through recapitalisation bonds. In this article, Dr Gurbachan...

  • Perspectives

Purchasing power parity: Some concerns

In this article, Dr Gurbachan Singh discusses how it may be problematic to make international comparisons using PPP that is based on observed prices, and why effective prices should be used instead.

  • Articles

Should India hold US$400 billion of foreign exchange reserves?

RBI’s foreign exchange reserves have now crossed the US$400 billion mark. In this article, Dr Gurbachan Singh discusses why India’s Central Bank should not hold such large reserves.

  • Perspectives

Towards financial prescription

The Securities and Exchange Board of India has proposed that the distributors of mutual funds should only be allowed to sell financial products and not act as financial advisers for customers. Drawing...

  • Perspectives