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Wednesday, April 14, 2021

Ishan Bakshi


The bad news from state budgets
Thu, Mar 18, 2021

States have spent less in this year, may focus on fiscal consolidation in the year to come. This belies hopes of a public-spending-led recovery.

Budget’s strategy of fiscal consolidation, compressing expenditure, could prove to be a costly miscalculation
Tue, Feb 09, 2021

Few would have faulted governments for spending more to counterbalance the effects of a once-in-a-century crisis. There is a time for aggressive consolidation. This was not it.

Optimism from economic rebound must be tempered by employment distress
Fri, Dec 18, 2020

While job creation typically tends to follow economic recovery, surely, by now, given that value added by almost all sectors is around 90 per cent of last year’s levels, the distress in the labour market should also be showing signs of easing.

In crisis, play by the book: Discarding the principles of sound public policy could end up doing more harm than good
Sat, Sep 26, 2020

Some unconventional measures may well be needed at the current juncture. But discarding the principles of sound public policy, though it sounds appealing, could end up doing more harm than good.

Current crisis has exposed limitations of central banking framework
Wed, Aug 19, 2020

The central bank must develop a clear strategy on what to do. At the one end, it is legally bound to an inflation target. Yet, at this juncture, there is a strong argument to look past the current spurt in inflation, and test the limits of both conventional and unconventional monetary policy.

Covid exposes limits of centralised approach, Finance Commission must reset the balance
Mon, Jun 15, 2020

As a neutral arbiter of Centre-state relations, the Finance Commission should seek to maintain the delicate balance in deciding on contesting claims.

Competition policy should be driven by safeguarding competition, not competitors
Fri, Mar 06, 2020

Any intervention to “correct” pricing essentially involves placing a higher weightage on the assumed losses of competitors/producers than on the consumer’s apparent gains. This is not a straightforward exercise.

Union Budget Explained: Boosting consumption by leaving people with higher disposable incomes is the key strategy
Sat, Feb 01, 2020

Union Budget important points Explained, highlights: Here's an explanation and analysis of the Budget presented by Finance Minister Nirmala Sitharaman in Parliament today.

GST may not have been revenue-neutral
Wed, Jan 15, 2020

Growth of GST collections has slowed since Q4FY19, in line with the fall in corporate tax collections, indicating the impact of sluggish economic growth.

Rules of Engagement
Mon, Dec 16, 2019

An eloquent account of how public policy needs urgent re-imagination

Insolvency and Bankruptcy Code should be the preferred option for resolution of bad loans, not the last resort
Wed, Nov 20, 2019

The introduction of the IBC marked a structural change in the resolution architecture in India. The shift to a time-bound resolution process was a tool to help tackle the bad loan problem.

Rising Influence
Sat, Sep 21, 2019

The journey of economists from university campuses to the White House

RBI’s presses print more notes than in pre-demonetisation period
Fri, Aug 30, 2019

In other words, despite the Modi government’s emphasis on digital payments and a less-cash economy, the official printing presses are churning out more currency notes than before, both in volume and value terms.

Explained: The new debate on defence funding
Thu, Aug 01, 2019

The Centre has asked the 15th Finance Commission to examine whether a separate mechanism for funding of defence and internal security should be set up. What are the implications for the finances of the states?

Explained: Behind the decline in fiscal deficit
Mon, Jul 08, 2019

FM surprised all by announcing a marginal decline from 3.4% to 3.3%. How will it be achieved? Will it affect the flow of funds between Centre and states? Will it come at the cost of capital expenditure by PSUs?

Union Budget 2019: Govt to meet part of its borrowings from abroad — a departure
Sat, Jul 06, 2019

Union Budget 2019: The bond markets has reason to cheer given the huge borrowing programme of the government. The relief was reflected in the10 year bond yields which fell below 6.6 per cent and closed finally at 6.69 per cent.

Explained: Unpacking the Budget
Sat, Jul 06, 2019

How has the first-time finance minister, Nirmala Sitharaman, scored on her debut? Has the first Budget of PM Narendra Modi’s second term laid the foundation for achieving the goal of making India a $5-trillion economy by 2025? Will the Budget address the pressing concerns of the Indian economy? The Indian Express cuts through the clutter.

Economic Survey 2019 big ideas: Rationalise minimum wages architecture
Thu, Jul 04, 2019

The Survey's recommendations, in line with the revised code, entail fixing minimum wages based on either the level of skill — different wages for the unskilled, semi-skilled, skilled and highly skilled — or the geographical region, or both.