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Demonetisation’s multiple failures

With 99.3% of banned currency returning to the banks, it is clear that demonetisation’s primary objective of nullifying ‘black money’ was not achieved. In this post, Dr Renu Kohli contends that ...

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The challenge of identifying economic activities of firms

The reliability of India’s GDP estimates has been debated extensively. A key challenge in the construction of macro-aggregates lies in the proper identification of firms’ economic activities as fi...

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GST: A ‘good and simple’ tax?

The Goods and Services Tax (GST) came into effect in India on 1 July 2017. Even as it is too early to judge the performance of GST relative to the system of indirect taxation it has replaced, Gaurav D...

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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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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...

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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...

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Jobless growth? From speculation to statistical analysis

This column investigates the relationship between economic growth and net job creation in India and South Asia. If economic growth was truly jobless, as is often claimed, labour productivity would be...

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Fostering social connections

This column describes an ongoing study that analyses data from Delhi’s labour-intensive garment factories to explore the relationship between trust among workers and productivity. Using the strength...

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Management practices and productivity in India

In this article, Bloom and Patnaik bring together research that analyses management practices of firms, and how they relate to firm productivity and performance. They highlight the importance of under...

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Impact of labour regulations on Indian manufacturing sector

In this article, Devashish Mitra discusses structural bottlenecks in the Indian manufacturing sector such as labour market regulations and recent policy changes that incentivise capital-intensive prod...

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Industrial Policy in India

In this article, Ritam Chaurey provides an overview of India’s industrial and labour policy to put in perspective the issues facing firm growth.

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Catching up: India’s transition from a colonial economy

The decline and stagnation of the Indian economy was reversed after independence. This column suggests although productivity in agriculture and industry rose after 1947, it was the service sector that...

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Falling behind: India under colonial rule

At the time of independence, India was among the poorest countries in the world. This column argues that the main reason for India falling behind during the colonial rule was inadequate investment in ...

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Communicating uncertainties in GDP data

In recent times there has been a lot of controversy around the accuracy and reliability of Indian GDP estimates. In this article, Amey Sapre and Rajeswari Sengupta contend that much of this confusion ...

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Union Budget 2018: The reality behind the rhetoric

In this article, Sudipto Mundle contends that given Union Budget 2018-19 was the current government’s last full budget before the next general election, headline-grabbing proposals were particularly...

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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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Renewable energy and India's future

In the world’s second-most populous country, it is unsurprising that the topic of energy supply should be a key issue – and, in particular, its sustainability. This column completes a series on I...

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