As the times get tough, the big seem to the thrive. At a time when economies world over reel under the sudden stop triggered by the Covid-19 pandemic, India’s dominant business group Reliance Industries (RIL) and global social media major…
A webinar titled "COVID-19 Pandemic and Fiscal federalism in India" was organized by Gulati Institute of Finance and Taxation (GIFT) during 27-28 April 2020. Click here for Programme DAY 1 : 27 April 2020 Session 1 Session 2 Session 3 Session…
Early evidence of the crisis in the developed world induced by the Covid-19 pandemic is trickling in. One set of numbers provide the first estimates of GDP growth in the first quarter of 2020, which includes the period when lockdowns…
Monetary policy can only make credit cheaper, it cannot bring money into the hands of workers. It cannot compensate for a fiscal stimuli, especially when India is in a liquidity trap. For such an unprecedented crisis, fiscal spending has been…
The current globalization was always legitimized by the argument that capital today, unlike in colonial times, had become blind to racial and other such distinctions across countries in deciding upon its location; it would now flow wherever opportunities for profitable…
The move for capital account liberalisation, which took off in India within a few years of 1991 economic reforms, was followed by large inflows of non-debt creating foreign direct investment (FDI) and portfolio investment. The steady opening up was responsible…
The immediate need for universal food and cash delivery is by now obvious and urgent. Across the country, there are reports of people — migrant workers, local workers, peasants, pastoralists, fisherpeople, vendors, ragpickers, and the destitute — facing extreme hardship,…
While the Covid-19-induced lockdown has yielded mixed and spatially diverse results so far in terms of disease containment, the socio-economic impact has been uniformly devastating across states in India. This warrants a careful appraisal of the lockdown strategy and a…
There is an exodus of finance from the third world at present, far exceeding in scale what had occurred in 2008 after the financial crisis. Even more important than the actual outflow is the desire on the part of finance…
The sudden announcement of a national lockdown to contain the spread of COVID19 has resulted in a severe disruption of food supply chains. The lockdown was announced without any preparation, and nothing was mentioned about excluding agricultural production and marketing…
