Jayati Ghosh points out that “mainstream economics has operated in the service of power”, which has made the subject less relevant and reduced its legitimacy and credibility. Economics needs to become more open to criticism of assumptions, methods, and results.…
India’s efforts to activate its corporate debt market, not least by periodically raising the ceiling on investment by foreign portfolio investors in corporate bonds, are yet to succeed. Mobilisation of capital through the issue of corporate bonds has just about…
Everyone expected the Modi government to do something big – or at least promise something big – before the general elections. Everyone also sensed that it would be something to do with farmers, one of the economic and social concerns…
Unbelievable but true: there is nothing – repeat, nothing at all – in the Budget to deal with the job crisis. This is crazy, since lack of employment (especially for the young) and the problems in agriculture have emerged as…
The attacks by the Modi government on many of India's institutions have been noted, but the destruction of India’s statistical system was not adequately recognised or condemned. That is, not until the latest revelations on how the Government is refusing…
The Brahmastra, or ultimate weapon, of 10% reservation in government employment for economically weaker sections (EWS) has been cynically deployed already, but even that does not seem to be delivering the desired public approval. Perhaps the general public has wised…
Jayati Ghosh speaks on the employment crisis, which is essentially the result of inadequate demand in India. Labour-displacing technological change is a problem not in itself but because it occurs in a neoliberal economic context, in which public spending on…
India’s external account has once again emerged as a source of concern, as the current account deficit widened to reach 2.4 per cent of GDP over April-June 2018. This increase was driven entirely by the trade deficit, which grew rapidly…
Once again, the World Bank has released a Brief declaring India to be the largest recipient of remittances from abroad. According to the Bank, remittances to India that totaled $65 billion in 2017, are likely to touch $80 billion this…
The sheer ineptitude of economic policymaking under prime minister Narendra Modi’s government has been evident from almost the beginning of its tenure. What is also now well-established is the aggressive and rigid approach of the political leadership, which generally pushes…
