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Macroeconomics

Demand-side components of India’s GDP growth

As per the recently released first advance estimates of the Central Statistics Office, the real GDP growth for India is estimated at 6.5% in 2017-18, the slowest in the last four years. In this articl...

  • Perspectives

Monkeying with the rupee

In this article, Debraj Ray discusses the sharp depreciation of the rupee and the ongoing outflow of foreign capital from India. Further, he refutes claims that the costs associated with the Food Sec...

  • Perspectives

Labour market effects of workfare programmes: Evidence from MNREGA

India’s Mahatma Gandhi National Rural Employment Guarantee (MNREGA), the world’s largest workfare programme, provided employment to 51 million households in 2016. Assessing the impact of MNREGA on...

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Reconsidering the 4% inflation target

The RBI targets an inflation rate of 4%. In this article, Gurbachan Singh takes an in-depth look at the prevailing macroeconomic policy regime. This exercise provides an insight, which forms the basis...

  • Perspectives

The historical roots of India's booming service economy

India stands out from other emerging economies because its growth has been led by the service sector rather than labour-intensive manufactures. This column summarises recent research showing that Indi...

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Terms of trade stocks and monetary policy in India

Understanding monetary policy design in emerging markets and developing economies is a growing area of research. One aspect that is missing is how distortions in the agricultural sector translate into...

  • IGC Research on India

Women and work in rural India

In contrast to the global average of 48%, only 32.6% of the half-a-billion working-age women in India report to be working. It is puzzling that the rapid fertility transition, broad increases in femal...

  • IGC Research on India

Female Politicians and Economic Growth: Evidence from State Elections in India

This project investigates whether women legislators are good for economic growth using constituency level data for all elections to State Legislative Assemblies in India during 1992-2012.

  • IGC Research on India

Book review: ´India’s long road´ by Vijay Joshi

In this article, Pulapre Balakrishnan, Professor of Economics at Ashoka University, reviews Vijay Joshi’s book, ‘India’s long road: The search for prosperity’.

  • Perspectives

Riding the energy transition: Oil beyond 2040

The motor vehicle was very quick to replace horses in the early 20th century, and the advent of the electric car suggests that another profound shift in transportation and energy could be around the c...

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Land acquisition law: The buck stops with the states

Some believe that by encouraging states to enact their own versions of the land acquisition law, the central government is diluting the law. In this article, Dhanmanjiri Sathe, Professor of Economics ...

  • Perspectives

Is the structure of Indian manufacturing geared towards job creation?

Government of India has envisaged adding 100 million jobs in manufacturing by 2022. This column finds that the structure of the country’s manufacturing sector is misaligned with the objective of jo...

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How did de-reservation of small-scale industry affect employment?

To protect small, labour-intensive manufacturing enterprises and boost employment, the Indian government reserved certain products for exclusive production by such enterprises. This policy was gradual...

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Food processing industries: Lessons from Bihar

For an industrially backward state like Bihar, placing food processing as the lead sector for industrial development is a natural choice from the perspective of resource advantage and interlinked sect...

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Minimum wage legislation for domestic workers: Does it work?

Between 2005 and 2009, for the first time, seven Indian states notified minimum wages for domestic workers. This column evaluates the impact of the legislation in terms of real wages and employment op...

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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

I4I Panel Discussion: The challenge of job creation

In a recent I4I editorial, Ashok Kotwal described the challenge of job creation that is facing the Indian economy today. In December 2017, Prof. Kotwal moderated a panel discussion on the topic betwe...

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