In a trend which sees equity markets in the “emerging economies” imitate stock markets in the US, the MSCI Emerging Market Index that collapsed over the month ending 23 March, from more than 1,100 to just above 750 (Chart 1),…
Mainstream economic policies that advocate fiscal-monetary austerity along with financialization and speculative transactions have squeezed the pace of expansion for the real economy. A major impact of above has been the dismal state of employment and job creation in the…
Among the many damages wrought by the inapposite Central government policy response to the Covid pandemic in India is that on the fragile framework of economic cooperation between the Centre and the states. It is clear that the real task…
As India slowly attempts to lift its nationwide lockdown, under compulsion of reviving the economy, labour rights are disappearing at an astonishing pace. Uttar Pradesh, Madhya Pradesh and Gujarat, which are States ruled by the Bharatiya Janata Party, took the…
The inhumanity of the Modi government towards the people is matched only by its mendacity. And in both respects the Modi government is far ahead of most other governments in the world. Which other government would have passed off a…
On May 12, Prime Minister Modi declared that the government, in response to the Covid-19 induced crisis, is about to unveil a Rs. 20 lakh crore relief and revival package amounting to 10 per cent of GDP. This announcement came…
The demands for a "Global Green New Deal" were never about some Utopian vision or naïve perception of global togetherness: combined and co-ordinated global efforts are necessary to ensure the survival of the planet and of human life on it.…
Even as millions of migrant workers are wearily trudging back to their villages with no money, no food and no shelter, or are locked up en route in shoddy quarantine camps, a war has been unleashed on the rights of…
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…
