There is no longer any room for doubt on the parlous state of the Indian economy. The automobile industry, seen as a bellwether of activity in the post-liberalisation years, is in crisis, as automakers, parts manufacturers and dealers have laid…
Two years after its implementation, the extent to which the Goods and Services Tax (GST) regime is an improvement upon the earlier system of multiple excise and sales taxes remains unclear. As of now, there are several worrying trends. The…
The hallmark of a systemic, as distinct from a cyclical or sporadic, crisis of capitalism is that every effort to resolve the crisis within the broad confines of the system, defined in terms of its prevailing class configuration, only worsens…
I am often asked: why has the Left, so powerful less than a decade ago, suddenly got eclipsed? The question is pertinent. True, the eclipse of the Left is mainly in the electoral arena, and the Left’s strength has to…
Jammu and Kashmir was the first state in the country to introduce land reforms. There were two components of J&K’s land reforms. First, the system of absentee landlordism,that had prevailed during the Maharaja’s time was completely done away with. The…
The Indian establishment’s obsession with GDP growth and stock market performance to the exception of all else, especially economic and social deprivation, is coming home to roost. Recent media reports on the state of the economy have highlighted three supposedly…
On 31 July, the United States Federal Reserve System (US Fed) announced its decision to cut its benchmark short-term interest rate by one quarter of a percentage point to a target range between 2% and 2.25%. It also announced that…
Despite recognising the damaging effects of austerity on Greece's economy, the IMF has made the same mistakes in its subsequent deals with Argentina and Ecuador. Click here for full article. (This article was originally published in the Project Syndicate on August…
The euphoria around emerging markets faded a while ago, but somehow the hope persists that economies in Asia can buck the global trend and grow fast enough to create an alternative growth pole. It is true that the global financial…
Despite recognising the damaging effects of austerity on Greece's economy, the IMF has made the same mistakes in its subsequent deals with Argentina and Ecuador. Click here for full article. This article was originally published in the Project Syndicate on August 13, 2019.
