Reregulating Finance Obama Style
Jul 1st 2009, C.P. Chandrasekhar
The much awaited package that the Obama administration announced recently incorporates a number of important regulatory advances. Firstly, the package gives a new role for the Federal Reserve in overseeing and regulating the bank and non bank entities. It also talks of new guidelines with respect to capital adequacy and prudential norms. But, unfortunately, there are many features that were expected to be dealt with but have been missed out in the new package.
Reflections on the Left
Jul 1st 2009, Prabhat Patnaik
The results of the recent Indian election suggest that the Left needs to pursue its resistance to imperialism along with an alternative approach to “development”, which defends the interests of its class base. If the Left abandons anti-imperialism, it will not only erode its existing class base, but also push the “basic classes” into the arms of extremist ideologies.
 
The Signs of a Global Recovery
Jun 16th 2009, C.P. Chandrasekhar and Jayati Ghosh
A world in recession since the end of 2007 is searching for signs that suggest the system is approaching the bottom of the downturn and is likely to experience a recovery. This article argues that even if the downturn is touching bottom in terms of the stabilisation of the rate of decline of GDP in the developed world, the decline could persist. Further, it is unclear whether there would be adequate alternative stimuli to sustain the recovery when the effects of the already implemented fiscal stimulus wane.
The International Transmission of Fragility
May 10th 2009, C.P. Chandrasekhar and Jayati Ghosh
According to the IMF, if the global financial crisis had principally impacted the developed market economies at its onset, in recent months conditions have deteriorated the most in emerging markets. This has occurred largely because of the effects of a capital reversal coming in the wake of an earlier surge in capital inflows into emerging markets, indicating that the lessons from boom-bust cycles since the 1990s have not been absorbed.

Indian Labour Market Report 2008

May 11th 2009.
The paradoxical feature of a positive GDP growth rate along with unfavourable employment trends have been one of the most pressing contemporary concerns related to the opening up of the Indian economy. This first bi-annual report published by the Adecco-TISS Labour Market Research Initiatives seeks to provide a thorough analysis of the current situation of the Indian labour market in terms of its composition across different segments, sectors, regions and gender. It includes detailed analysis of unemployed and underemployed labour force and even those who are not in the labour force. The industry perspective on issues of employment is also captured through a primary survey of select industries in the manufacturing and emerging sectors.
The Impact of Macroeconomic Change on Employment in the Retail Sector in India: Policy Implications for Growth, Sectoral Change and Employment
May 15th 2008, Jayati Ghosh, Amitayu Sengupta & Anamitra Roychoudhury
This study is concerned with the employment situation in India's retail sector. High economic growth in India has not produced satisfactory outcomes of job growth, both in terms of quantity and quality. Concern has arisen that many of the working poor engaged in small-scale retailing and street vending are crowded by entries of large-scale domestic as well as foreign retailers. Share of workers' income in manufacturing has also seen a decline, despite labour productivity growth, during the last decade. This paper argues that economic policy in India needs to be made more inclusive and equitable. The only sure way of doing so would be making it more pro-job and pro-poor, through examining employment implications of macro policies that accompany economic liberalization.
Equity and Inclusion through Public Expenditure: The potential of the NREGS
Jan 29th 2009, Jayati Ghosh

In the present situation of global economic crisis and national economic slowdown, ''inclusive'' public expenditure, such as in the NREGS, is not only desirable from a social or welfare perspective - it also provides very direct economic benefits. This is because wage employment schemes like NREGS tend to be self-targeting and thus will lead to a higher multiplier effect, making government expenditure more effective in reviving output and indirect employment.

Budgetary Policy in the Context of Inflation
Mar 30th 2007, Prabhat Patnaik

Negating the impact of the current inflationary episode in India on the poor requires both the ensuring of appropriate supplies through imports, and a transfer of purchasing power from the profit earners to the workers. Hence, even if augmentation of supplies through resorting to imports, as the government is doing now in the case of foodgrains, succeeds in ending inflation, there is still the need to put additional purchasing power in the hands of the poor so that they regain their earlier real income. The author argues that the basic problem with the 2007-08 budget is that it is oblivious of these social demands of a situation of profit inflation.

(Deadline for submissions extended to 22 June 2009.)
Jyotirmoy Bhattacharya
 
What were the Main Drawbacks of the Nehruvian Strategy of Development?
Public Finance Statistics
Index Number of India's Exports & Imports
All India Index Numbers of Area, Production and Yield of Principal Crops (Base: Triennium ending 1981-82)
National Accounts Statistics (Base: 1993-94 )
National Accounts Statistics (Base: 1980-81)
National Accounts Statistics: Disaggregated Statements
State Domestic Product (Base: 1980-81)
 

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