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How open is India's capital account?

Although India began opening up its capital account in the mid-1990s, the approach towards financial liberalisation has been cautious. Tracing changes in the de-facto openness of the country’s capi...

  • Perspectives

India’s service-led economic growth

Structural transformation that involves a shift from agriculture straight to services, is a cause of concern to many scholars as an expanding service sector might be a pale substitute to technical pro...

  • Articles

Business sentiments and labour markets

The Covid-19 pandemic and associated lockdowns have had a significant adverse impact on jobs and livelihoods. Using 2006-2021 data from a survey on business sentiments, this article examines fluctuati...

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Covid-19: Assessing vulnerabilities faced by microenterprises

In India, where microenterprises form a crucial foundation for livelihoods and employment, the effects of the Covid-19 lockdown can potentially be significant. Based on the first wave of a dynamic, mu...

  • Notes from the Field

Covid-19: Recession in India, and policy lessons from other countries

Given the prevailing economic situation in India and following the past experience of several developed countries, there is a clamour for accepting much larger fiscal deficits, and adopting unconventi...

  • Perspectives

Covid-19: Conditions on state borrowing need a rethink

States have been in the firing line in the battle to save lives and livelihoods from the impact of Covid-19. However, the loss of economic activity following the nationwide lockdown, has wreaked havoc...

  • Perspectives

Does easing controls on foreign borrowing boost firm performance?

The literature shows that rigid capital-control policies adversely influence international trade, but overlooks the relationships among access to external financing, firm-level productivity, and expor...

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Unmaking ‘Make in India’

The current government has attempted to improve India’s ranking in the World Bank’s Doing Business Indicators, but with limited success. This article shows that ‘deals’ between the State and b...

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Atmanirbhar Bharat Abhiyan: Putting the cart before the horse

In an attempt to tackle the economic crisis triggered by the Covid-19 pandemic, Government of India announced a Rs. 20 lakh crore Atmanirbhar Bharat Abhiyan financial package, equivalent to 10% of Ind...

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The supply-side effects of India’s demonetisation

What were the effects of the 2016 Indian demonetisation that removed 86% of currency in circulation overnight, on the production side of the economy? By combining data from financial statements and su...

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Webinar video: The Covid-19 shock

The Covid-19 pandemic and the containment measures adopted to check the spread of the disease, have caused an unprecedented economic crisis in India as well as the rest of the world. Further, India is...

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Protectionism and Statism, once again

In this post, Ajit Karnik argues that, at a broad strategic level, the Indian government has displayed a disconcerting shift towards protectionism and Statism over the last few months. While discussin...

  • Perspectives

States’ loss of fiscal autonomy in a centralised federal system

The Indian states bear the larger responsibility in dealing with Covid-19, but they have few resources to do so. In this post, M. Govinda Rao argues that the ongoing process of centralisation has weak...

  • Perspectives

Covid-19 crisis and health of small businesses: Findings from a primary survey

In a recent statement, the Union Minister for micro, small, and medium enterprises, acknowledged that the sector is “battling for survival”. This article reports some key findings from a survey of...

  • Notes from the Field

Covid-19, and the way to avoid a blunt interest rate policy

Given the looming recession due to Covid-19, the Reserve Bank of India has reduced interest rates to encourage economic activity in the country. In this post, Gurbachan Singh contends that the prevail...

  • Perspectives

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Parikshit Ghosh

Delhi School of Economics

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David Green

University of British Columbia

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Natalia Rigol

Harvard Business School

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Simone Schaner

University of Southern California

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Natalie Theys

University of Southern California

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Giorgia Barboni

University of Warwick

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Ila Patnaik

National Institute of Public Finance and Policy

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Indira Gandhi Institute of Development Research

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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

Covid-19: Macroeconomic implications for India

Due to the measures adopted to prevent the spread of the Coronavirus Disease 2019 (Covid-19), especially social distancing and lockdown, non-essential expenditures are being postponed. This is causing...

  • Perspectives