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Budget 2023-24: Fiscally conservative but lacking economic strategy

The Indian economy’s recovery from the Covid-19 pandemic has not been all good news: employment creation has stagnated, and government capex allocation has not been successful in generating private ...

  • Perspectives

Budget 2023-24: Some good and no harm

Following the budget speech, Deepak Mishra weighs in on the extent to which the three goals of higher growth, better distribution, and stability were met. He discusses the Finance Minister’s success...

  • Perspectives

Budget 2022-23 and outlook for the Indian economy

Several commentators have lauded the recently presented Budget 2022-23 as a ‘growth budget’, on account of the large allocations made for capital expenditure on public infrastructure. On the other...

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Monetary dimensions of the recent Indian inflationary experience

Inflation in India remained at or near double-digit levels between 2009-10 and 2014-15. In this article, Pronab Sen, Country Director, IGC India Central, argues that while the initiation of the infla...

  • Perspectives

Productivity and competition in India’s brick industry

Firm productivity has long been considered a key driver of economic growth. Yet there is little understanding of why the competition and innovation that fuels productivity growth in the developed worl...

  • IGC Research on India

Household savings and India's current account deficit

India’s current account deficit widened consistently in the post-crisis period between 2008-09 and 2012-13. This column finds that while the public sector was the key driver of this trend in the fi...

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The rolling global crisis and India

We are in the midst of a global growth crisis that began in 2007. In this article, Ashoka Mody, Professor of International Economic Policy at Princeton University, contends that the pervasive global ...

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Has the recession which began in 2012 ended?

The high growth rates visible in the new GDP data suggest that the recession which began in the first quarter of 2012 has now ended. Based on analysis of data on firms, investment and Balance of Paym...

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India's monetary policy in unusual times, uncharted waters

There is a lot of discussion of the right course of monetary policy for India. In this article, India’s Chief Economic Adviser Arvind Subramanian argues that the country’s real policy interest ra...

  • Perspectives

Road to riches: An evaluation of India's rural road programme

Access to roads is believed to be essential for economic growth and poverty alleviation. This column evaluates the short-term impact of Pradhan Mantri Gram Sadak Yojana – India’s flagship rural r...

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India's Monetary Policy Committee: Formation blues

The government and RBI are in the process of finalising the structure of India’s Monetary Policy Committee. In this article, Amartya Lahiri, Professor of Economics at the University of British Colu...

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Political distortions in the Indian electricity sector

While political interference is believed to be a major problem plaguing the electricity sector in India, there is little empirical evidence on the existence of political distortions or on their econo...

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Land acquisition Act: Addressing both justice and prosperity

The Modi government’s land acquisition ordinance did away with the consent and social impact assessment requirements for private projects in certain sectors under UPA’s 2013 land Act. In this art...

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How interest rates affect financial decisions of Indian households

RBI has cut interest rates three times this year so far. While rate cuts are welcomed by the Indian corporate sector, their impact on households is less discussed. This column analyses the relationsh...

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India's macroeconomic outlook: Is uncertainty the new paradigm?

The provisional growth estimate for India for 2014-15 is 7.3%, higher than 6.9% growth in 2013-14. In this article, Bornali Bhandari – a Fellow at the National Council of Applied Economic Research ...

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Aakanksha Shrawan

National Institute of Public Finance and Policy

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Pulapre Balakrishnan

Centre for Development Studies

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M. Parameswaran

Centre for Development Studies

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Dibyendu Maiti

Delhi School of Economics

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Naveen Kumar

Delhi School of Economics

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Debajit Jha

O. P. JIndal Global University

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Barry Eichengreen

University of California, Berkeley

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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...

  • Perspectives

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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