In a show of solidarity, some of India’s opposition leaders have declared the much-delayed relief package (titled Pradhan Mantri Garib Kalyan Yojana) announced by Finance Minister Nirmala Sitharaman on March 26 to mitigate the effects of the Coronavirus pandemic on…
The cooperation between the Organisation of Petroleum Exporting Countries (OPEC) and some non-OPEC oil exporters, including oil-major Russia, to limit production and supply of oil and help hold oil prices has collapsed. In a dramatic post-Coronavirus-pandemic turn, discussions to extend…
The coronavirus attack has so far been much less deadly than the Spanish flu of a century ago. That had affected 500 million people worldwide, about 27 per cent of the world’s population of the time, and had a death…
The crisis at Yes Bank is only the concentrated expression of a deeper malaise afflicting the Indian banking system as a whole, namely its vastly increased financial fragility. The Chief Economic Advisor is no doubt right when he assures depositors,…
Even while the slow growth that followed the Great Recession endures, the world economy is staring at another recession. The OECD Secretariat has reduced its forecast of global GDP growth by half a percentage point to 2.4 per cent, which…
The revival package announced by the Reserve Bank of India (RBI) to rescue insolvent Yes Bank smacks of desperation. Having placed a moratorium on the bank’s activities and capping withdrawals by depositors at Rs 50,000, the government has called upon…
Changes in estimation methods have of late made statistics on the Indian economy increasingly bewildering; besides, whenever the statistics show the performance of the economy in a poor light, the BJP government simply suppresses them. Nothing however can suppress the…
The Supreme Court has set aside a circular issued by the Reserve Bank of India in April 2018, which directed all entities regulated by it to “not deal in virtual currencies (VCs) or provide services for facilitating any person or…
Class struggle occurs in the realm of concepts too. The World Bank for instance systematically counters Left concepts by employing a novel tactic: it uses the very same concepts as are used by the Left, but gives them a wholly…
India’s financial landscape appears set for a sea change. Early into its second term, the Modi government, through the Budget speech of its Finance Minister, has signalled the likelihood of a fundamental transformation of Indian finance. There were five indications…
