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Macroeconomics

Uneven resilience: Why some emerging markets better navigate US monetary policy cycles

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Economic development of Punjab: Prospects and policies

While the north Indian state of Punjab topped per-capita income rankings within the country until year 2000, its position fell consistently thereafter. This article discusses the current state of Punj...

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Food, fuel, and facts: Distributional effects of global price shocks

The recent upsurge in global prices of essential commodities of food and fuel, warrants an analysis of the distributional ramifications, especially within developing economies. This article examines I...

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What will it take for the Indian economy to break out of the lower-middle-income bracket?

In 2007, India moved from the low-income to lower-middle-income category, as per the World Bank’s classification of countries by income. With clear aspirations to graduate into the higher brackets o...

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Taxation and supplier networks: Evidence from India

Do tax systems distort firm-to-firm trade? This article considers the effect of tax policy on supplier networks in the state of West Bengal in India. It finds that on average, firms buy 12% more from ...

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How India’s growth bubble fizzled out

India’s GDP growth has slowed sharply from 8% per annum last year to 5% in the second quarter this year. In this post, Ashoka Mody contends that the ongoing slowdown is not a short-term disruption; ...

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The need for a total overhaul of the GST regime

The Goods and Services Tax (GST) Council met in Goa in September 2019 to find a way to boost the weakening Indian economy. The Council recommended reductions in GST rates for certain categories of goo...

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Should low-income countries open up to foreign capital? The India experiment

In 2001 and 2006, India introduced the automatic approval of foreign direct investments of up to 51% of domestic firms’ equity to industries in which foreign investment was initially restricted. Thi...

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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 ...

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Tapping the revenue potential of property tax in India

Property tax, levied on ownership of any real property, is a significant source of revenue for city-level municipal governments in India. However, revenue collections from it are quite low as it is po...

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Cash and the economy: Evidence from India’s demonetisation

‘Demonetisation’ announced in India in December 2016 made 86% of cash in circulation illegal tender overnight, with new notes gradually introduced over the next several months. This article combin...

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What should we do about the Indian economy? A wide-angled perspective - IV

In the previous part of this series, Ashok Kotwal and Pronab Sen traced the genesis of the present economic slowdown. In this part, they discuss the way forward to arrest the slowdown. They suggest a ...

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What should we do about the Indian economy? A wide-angled perspective - III

In the previous part of this series, Ashok Kotwal and Pronab Sen presented an export-led development strategy employed by successful Asian countries and why India failed on this front. In this part, t...

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What should we do about the Indian economy? A wide-angled perspective - II

In the previous part of this series, Ashok Kotwal and Pronab Sen described the generic process of development in a dual economy. In this part, they present the strategies employed by successful Asian ...

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What should we do about the Indian economy? A wide-angled perspective - I

The Indian economy, one of the fastest growing economies in the world over the last three decades, today shows telltale signs of an economic slowdown. In this four-part series, Ashok Kotwal and Pronab...

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Foreign currency sovereign bonds: Think before you leap?

Government recently announced its decision to borrow in foreign currency from abroad to finance part of government’s fiscal deficit. In this post, Renu Kohli discusses some key fiscal preconditions ...

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Most Popular Macroeconomics Posts

Land in India: Market price vs. fundamental value

The Real Estate (Regulation and Development) Bill, 2015, is focused on protecting the few home buyers who can afford to buy homes but does not address the issue of high land prices, which is a very se...

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Land records and titles in India

Land ownership is broadly determined by access to a land title, which protects the rights of the title-holder, and impacts livelihoods, and industrial, economic, and social growth. However, land title...

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West Bengal’s economic performance relative to India over the last three decades

Against the backdrop of the ongoing elections in West Bengal, Maitreesh Ghatak examines how the state’s economic performance compares with that of the country as a whole, over the past three decades...

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