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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...

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...

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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A comparison of automobile industries in India and China

The automobile sector in both India and China developed due to waves of investment in these countries since the late 1980s. This column discusses how India’s automobile sector has grown differently ...

Inflation targeting: A long way to go

The Finance Bill, 2016, amended the Reserve Bank of India (RBI) Act, 1934, to define inflation targeting as the primary objective of the central bank. In this article, Rajeswari Sengupta, Assistant P...

India's housing situation

The ‘Housing for all’ scheme was launched by the Government of India in June 2015, with the objective of constructing 20 million houses for the urban poor by 2022. In this article, Roshan Kishore...

Why is labour mobility in India so low?

Rural-to-urban migration is surprisingly low in India, compared with other large developing countries, leaving higher paying job opportunities unexploited. This column shows that well-functioning rura...

How do rural roads affect development? Evidence from India

Despite broad consensus that high transportation costs are a large barrier to economic development, many of the world’s poor live in rural communities without paved roads, impeding their access to o...

Markups and capital misallocation: A trade-off? Evidence from the Indian manufacturing sector

Capital misallocation in India has continuously increased over the past two decades, despite extensive liberalisation. At the same time, the importance of financial frictions for the Indian economy ha...

Fixit, not Brexit

In a referendum on 23 June, Britain voted for its exit from the European Union. In this article, Maitreesh Ghatak, Professor of Economics, London School of Economics, discusses the causes and likely ...

What does China’s ‘new normal’ mean for India?

China’s new normal – a growth rate of at least 6.5% - has been set as a target in its 13th Five Year Plan. In this article, Sharmila Kantha, Principal Consultant, Confederation of Indian Industry,...

Painful spillovers from slowing BRICS growth

A synchronous growth slowdown has hit emerging markets, especially the BRICS, since 2010, with the potential for significant adverse spillovers to the rest of the world. This column estimates that a ...

Does democracy cause growth?

Many analysts view democracy as a neutral or negative factor for growth. This column discusses new evidence showing that democracy has a robust and sizeable pro-growth effect. It finds that a country ...

Can Governments Increase Revenues By Lowering Taxes? A Study of Competing Policies To Reduce Tax Evasion During House Purchase in India

In the specific context of India, this project studies which of the two tools – the stamp duty or the guidance value – leads to higher truthful reporting of property prices. Using a hedonic model ...

Why outward FDI should be encouraged

The ‘Make in India’ programme seeks to incentivise global investors to manufacture in India. In this article, Natasha Agarwal, an independent research economist argues that efforts should also be ...

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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...

King Cash is back: Has informality increased?

Demonetisation and the introduction of goods and services tax were expected to accelerate the shift to formality in the economy. In this article, Renu Kohli contends that while currency in circulation...

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...