Around a month ago, The Reserve Bank of India, in a controversial circular, reversed its long-standing policy of not allowing banks to arrive at compromise settlements with willful defaulters or holders of fraudulent accounts. A willful defaulter is defined as…
“Apprehensions by India and other countries of possible excesses in capital inflows and the inflationary impacts led them stiffen the domestic interest rates. The Fed, however has reversed its policy to meet domestic inflation by pitching the US Fed interest…
By far the most significant ‘innovation’ in industrial policy under the current NDA government is the production linked incentive (PLI) scheme. It provides an incentive pay out or subsidy of 4-6 per cent of incremental sales based on domestic production.…
The estimates of India’s Gross Domestic Product for the fourth quarter of 2023 were released on May 31. These show a growth rate of 6.1 per cent over the fourth quarter of the previous year, which is higher than the…
Under pressure from globalised finance capital, most countries of the world have enacted legislation fixing the size of the fiscal deficit as a proportion of GDP; generally it is 3 per cent, and in India it is 3 per cent…
At the start of May 2023, the central government released yet another statement exuding optimism about the progress of India’s Goods and Services Tax regime, based on the previous month’s collections. The statement said that monthly goods and services tax…
Janet Yellen, the US treasury secretary, has finally acknowledged what has been obvious to most people for quite some time, namely that the imposition of sanctions against countries that the US is hostile to, runs the risk of jeopardising the…
Government officials never tire of repeating that India is currently the fastest growing major economy in the world. What they never mention is the fact that India had witnessed perhaps the sharpest absolute drop in GDP among the major economies…
There is nothing mysterious about the reasons for the collapse of the Silicon Valley Bank and the Signature Bank in the United States. There is also nothing mysterious about why the entire banking system of the capitalist world has come…
C. P. Chandrasekhar speaks to us about the Silicon Valley Bank crisis and whether the financial contagion is likely to spread to India and other countries. Last week, California-based Silicon Valley Bank, the 16th largest bank in the United States,…
