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Macroeconomics

Foreign currency corporate borrowing: Risks and policy responses

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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...

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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...

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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 and MSMEs: The ‘identification’ problem

A recent survey of 5,000 micro, small, and medium enterprises (MSMEs) found that 71% of them could not pay salaries to their workers in March 2020 due to the Covid-19 lockdown in India. The government...

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Covid-19: The infected economy

India, along with much of the world, is now in a lockdown. But the cost of locking down the country is particularly high for the urban poor in India. Besides, the reality of urban living reduces the e...

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Only germs this time, no guns and steel (yet)?

The first round of globalisation over the previous centuries was associated with a transmission of diseases between continents. With Covid-19, history seems to be repeating itself, but this time in th...

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Financing of fiscal response to Covid-19: A red herring?

Governments around the world are frenetically announcing an expanding slew of rapid response measures to address the fallouts of Covid-19 pandemic. The fiscal price tag on these measures is massive an...

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Covid-19: Reserves to the rescue

On 27 March 2020, the Government of India announced a relief package of Rs. 1.7 trillion to deal with the Covid-19 crisis and its possible adverse effects on the economy. A view put forth by critics i...

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Age composition of population and Covid-19

The novel Covid-19 is affecting the advanced countries in the Western Hemisphere disproportionately more than developing countries. In this post, Basu and Sen show that Covid-19 casualty is higher in ...

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We need a Marshall Plan to fight Covid-19

There are still a lot of unknowns in the fight against the Covid-19 pandemic, but two robust lessons are clear: we need to pull out all stops to strengthen our healthcare capacity and reinforce social...

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Covid-19: Curated content and resources

Watch this space as we bring together our pick of articles, videos, and podcasts as well as useful links with credible information on Covid-19.

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Covid-19: Are we ready for the long haul? - Part II

In Part I of this piece, the authors made broad recommendations to guide the government’s response to Covid-19 in India. In this part, they identify five salient population groups that are particula...

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Covid-19: Are we ready for the long haul? - Part I

As this may be the first of many future lockdowns to stamp out possible repeated outbreaks of Covid-19, policymakers must be prepared to provide relief to adversely affected individuals. With this in ...

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How did demonetisation affect household consumption?

‘Demonetisation’ announced in India in 2016 made 86% of cash in circulation illegal tender overnight. This article finds that it led to a decline in household consumption in the initial months aft...

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Covid-19: Is there a reasonable alternative to a comprehensive lockdown?

In India’s battle against Covid-19, we are inevitably confronted by the choice between social distancing on the one hand, and denying people their livelihood on the other. Recognising the unsustaina...

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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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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...

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