Economic Divergence Gone Awry
It is the second year running in which the IMF and the World Bank have been forced by the Covid pandemic to hold their annual Spring Meetings online. But this time there was slight cause for optimism. Signs of a…
The Scandal of Covid-vaccine Pricing
When the country is grappling with the worst health crisis it has faced in a century, the Covid-vaccine producers have decided to seize the opportunity to go on a profiteering spree, taking advantage of the Modi government’s incompetence or complicity…
Covid-19 in India – profits before people
The unfolding pandemic horror in India has many causes. These include the complacency, inaction and irresponsibility of government leaders, even when it was evident for several months that a fresh wave of infections of new mutant variants threatened the population.…
The Resurgence of Inflation
The official wholesale price index for March 2021, which was released a few days ago shows it to be 7.39 per cent higher than for March 2020. Such a high rate of inflation has not been seen in India for…
Biden’s Package and Its Pitfalls
U.S. President Joe Biden’s $1.9 trillion rescue package is one of the most ambitious measures to revive the U.S. and, with it, the world economy. Coming on the heels of Trump’s $2 trillion package last year and a further $900…
How China is Offering an Alternative to the IMF
The People’s Bank of China’s network of local currency swap arrangements provide Asian countries with a much-needed safety net, while also strengthening China’s diplomatic position. For full article Click here (This article was originally published in The Institute for New…
Ruling Classes and Concern for the Poor
When Elizabeth Warren a contender for American presidentship had proposed a progressive wealth tax during her campaign for Democratic Party nomination, 18 American billionaires had come out in support of her proposal; one cannot recall or even imagine any comparable…
US Stimulus: Setting a new agenda?
With President Joe Biden having put through Congress and signed a $1.9 trillion American Rescue Plan, the world is set to experience one of the biggest fiscal boosts of recent times, larger than that resorted to in response to the…
Privatising Indian Insurance
With the cabinet approving amendments to the Insurance Act of 1938, to raise the cap on foreign direct investment (FDI) in insurance companies from 49 to 74 per cent, the process of implementing the next stage of reducing public control…
Fiscal Policy in a Bind
Even the blinkered BJP government sees the need for a fiscal policy that would stimulate the economy by increasing government expenditure; but it finds itself in a bind since it does not know how to finance such larger government expenditure.…