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Macroeconomics

Home Macroeconomics

Modi on Demonetization

  • November 16, 2020
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

On the fourth anniversary of demonetization, Narendra Modi has claimed that it succeeded in curbing black money. He probably believes he can get away with making this claim because of the passage of time. But most people in the country…

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Covid Debt and the Tax Paradigm

  • October 20, 2020
  • C. P. Chandrasekhar and Jayati Ghosh
  • Macroeconomics
  • 0 Comments

The Covid-19 pandemic has forced governments across the world to increase reliance on debt. The IMF projects the fiscal deficit as a proportion of GDP in emerging markets and middle-income economies (EMMIEs) as a group to rise from 4.9 per…

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Asymmetric Effects of Growth and Stagnation

  • October 12, 2020
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

Growth under capitalism is associated with an increase in absolute poverty. Marx had recognised this and expressed it as follows: “Accumulation  of wealth at one pole is, therefore, at the same time accumulation of misery, the torment of labour, slavery,…

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Time use in India

  • October 6, 2020
  • C. P. Chandrasekhar and Jayati Ghosh
  • Macroeconomics
  • 0 Comments

The results of the long-awaited time use survey conducted over January to December 2019 by the NSSO have just been published. This finally allows policy makers and the general public to have some idea of the extent to which unpaid…

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The Move towards A De Facto Unitary State

  • October 5, 2020
  • Prabhat Patnaik
  • Macroeconomics, Political Economy
  • 0 Comments

Federalism is one of the basic features of the Indian Constitution. In the Constituent Assembly Professor K.T.Shah wanted the term “federal”, together with the term “secular”, included in the Preamble itself, but Dr.Ambedkar rejected it on the grounds that the…

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A Damaged Federal Structure

  • October 5, 2020
  • C. P. Chandrasekhar
  • Macroeconomics
  • 0 Comments

The office of the Comptroller and Auditor General (CAG) of India, in its Report 4 of 2020 relating to Union finances, has criticized the Centre’s handling of funds collected from various cesses levied for specified purposes. Cesses collected for designated…

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Modi’s Agriculture Bills push imperialist agenda

  • September 28, 2020
  • Prabhat Patnaik
  • Macroeconomics, Political Economy
  • 0 Comments

The two bills rammed through parliament last week were objectionable in every conceivable sense. The very fact of their being rammed through the Rajya Sabha, without being put to vote despite demands for a division, was grossly anti-democratic. The fact…

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A Government Unequal to the Task

  • September 21, 2020
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

A striking aspect of the 24 per cent decline in GDP in the first quarter of 2020-21 compared to the previous year’s first quarter is the decline by 10.3 per cent in public administration, defence and other public services. This…

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The Indian Economy on the Verge of Collapse

  • September 14, 2020
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate…

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Unravelling India’s Growth Impasse

  • September 11, 2020
  • C. P. Chandrasekhar
  • Macroeconomics
  • 0 Comments

While it was expected that the Indian economy will experience contraction during the second quarter of 2020, the 23.9 per cent fall in GDP reported by the National Statistical Office came as a surprise to many. For some the surprise…

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