Tag Search: “monetary policy”

Government securities market: Price discovery and the cost of Indian government borrowing

The government securities (G-Secs) market has substantial effects on other markets as the producer of risk-free interest rate benchmarks. Over 2017-18, there was a sharp rise in the interest rates of ...

  • Articles

Union Budget 2019: An attempt to address the economy’s stress points

In this post, Niranjan Rajadhyaksha contends that in the first Budget of the second Narendra Modi administration, Finance Minister Nirmala Sitharaman has made an honest attempt to address some of the ...

  • Perspectives

The great disinflation in emerging and developing economies

Emerging market and developing economies (EMDEs) have achieved a remarkable decline in inflation since the early 1970s. Whether EMDEs can continue enjoying the benefits of low inflation will depend on...

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Indian economy: High performer or Potemkin village?

The recent schizophrenic commentary on the health of the Indian economy raises questions on the true state: Is India doing really well or are we just seeing an impressive facade? In this post, Amartya...

  • Perspectives

Bank and its critics

There has been a lot of commentary in recent weeks on the Reserve Bank of India, around its capital base, performance, and autonomy. In this post, Amartya Lahiri contends that RBI has a more coherent ...

  • Perspectives

Global financial crisis and India: A look at the decade gone by

The crisis that emerged in the US subprime mortgage market this month 10 years ago, not only engulfed the country’s financial system but the entire global economy. In this post, Vikas Dimble and Nalin...

  • Perspectives

Where is the cash?

In recent weeks, reports of currency shortages have emerged from several parts of the country. In this post, Nalini Gulati contends that the cash crunch appears to be temporary and is likely to be res...

  • Perspectives

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...

  • Perspectives

The lad(y) doth protest too much, methinks

Former Finance Minister Yashwant Sinha has trashed the present government’s track record on economic management. In a recent article, economist Surjit Bhalla refuted Mr. Sinha’s claims with a point-by...

  • Perspectives

Inflation targeting: Should RBI revisit its inflation anchor?

Ever since the RBI switched to flexible inflation targeting with headline Consumer Price Index as the inflation anchor, inflation has witnessed a dramatic collapse. In this article, Renu Kohli contend...

  • 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.

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Post demonetisation: Is digital finance in India's future?

Analysing RBI data from June 2017 – six months after demonetisation was announced on 9 November 2016 – Mukherjee and Wadhwa show that reliance on cash has reverted to pre-demonetisation levels, and th...

  • Perspectives