Surjit S Bhalla

The writer is contributing editor, 'The Indian Express', and senior India analyst, The Observatory Group, a New York-based macro policy advisory group

No Proof Required: Plagiarism at the World Bank?
Sat, Apr 21, 2018

At a minimum, the World Bank is guilty of following the not so scholarly tradition of Western scholars to ignore scholarship from elsewhere, even when it is right under their nose.

Goebbels and fake news — spot the difference
Sat, Mar 31, 2018

The Opposition is trying to create an alternate narrative about the political and economic reality under the Modi government.

The little-revenue tax
Sat, Feb 17, 2018

LTCG is a bad idea. The best policy for the taxman is one that maximises revenue, not one that maximises his morality, or his employment, or discretionary powers

Revolution and regression
Sat, Feb 10, 2018

Tax buoyancy has helped the government to budget for schemes that make transfer of revenues to the bottom third of the population possible. There was no reason for the long-term capital gains tax

Smart policies for redistribution
Sat, Jan 27, 2018

India can, and must, reform its welfare system. More efficient redistribution is desirable for ethical and political reasons

Piketty has got it wrong
Sat, Jan 20, 2018

The implied savings estimates for India, derived from his calculations of income distribution, do not conform to any known model of savings behaviour

Tax-fruits of demonetisation
Wed, Jan 17, 2018

A direct outcome of demonetisation is a sharp increase in 2017-18 in tax buoyancy (revenues per unit of growth). Given this ‘unexpected’ result, will the knee-jerk critics of demonetisation please stand down?

World economy: Looking up
Mon, Jan 01, 2018

It is on course for high growth, low inflation, lower taxation, increased income support for the needy. And declining inequality.

No proof required: Gujarat 2017, lessons for all
Sat, Dec 23, 2017

This election was the first since slow economic growth was apparent and in the data. A slow economy, however, was not the only factor — after all, in Himachal Pradesh (HP), the BJP won by a large margin.

No Proof Required: Gujarat 2017- A turning point?
Thu, Dec 14, 2017

For whom will the election bells toll -- a confident BJP or a reviving Congress? The opinion polls suggest that this may not be a Rahul Gandhi moment.

Give accountability a chance
Sat, Dec 02, 2017

Here is a modest proposal to bring about much-needed accountability to the decisions of the RBI (and MPC): Let the RBI governor be questioned by Parliament twice a year

No proof required: Making RBI accountable
Sat, Nov 25, 2017

The first year of operation of the Monetary Policy Committee has imposed considerable costs on the economy with very few benefits. What explains its decisions?

Dead parrots tell no tales
Sat, Nov 11, 2017

A forthcoming book explains that inflation, which haunted the world in the Seventies and the Eighties, is now only a windmill to be tilted at

No Proof Required: Demonetisation and its contents
Wed, Nov 08, 2017

It was about both politics and economics. It is an acknowledged political success and early ‘returns’ indicate an economic success story as well.

Hungry for publicity
Sat, Oct 21, 2017

Surveys on hunger suggest that like poverty, it is more a relative, than absolute, concept. The best policy to increase nutrition is via sanitation and clean water

Looking for honesty in the wrong places
Sat, Oct 14, 2017

We all have a choice — we can either debate evidence, or manufacture conclusions

Data vs gossip: Who should win?
Sat, Sep 30, 2017

The incomes of the poorest are rising at a faster pace than any time since January 2015. That could be the reason for Modi winning elections and why the growth slowdown will soon reverse.

No Proof Required: It’s interest rates, stupid
Tue, Sep 19, 2017

Inflation is down by 700 bp since 2013, and policy rates have declined by 200bp — and you are still wondering why GDP growth is slow?

No proof required: Madness in monetary policy
Sat, Aug 19, 2017

In India we have a monetary authority that admits to not understanding inflation — but persists in damaging an already weak economy because it does not understand it

No proof required: Leave your ego at home
Tue, Aug 01, 2017

Average CPI inflation for eight months since September 2016 has been 3.7 per cent. How long are you going to wait and watch, MPC, before you admit that you were wrong in your assessment?