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Tuesday, May 24, 2022

Ishan Bakshi


On inflation, RBI has been behind the curve
Wed, Apr 27, 2022

Ishan Bakshi writes: It has erred on forecasts. MPC members must make public their individual projections.

What the different state budgets tell us about overall public spending in 2022-23
Thu, Mar 31, 2022

Ishan Bakshi writes: There are several uncertainties surrounding states’ revenues and expenditures. This makes it hard to assess general government fiscal boost to economy for the coming financial year.

What RBI needs to keep in mind for a new digital currency
Fri, Feb 18, 2022

Ishan Bakshi writes: Several considerations, including the underlying technological architecture and impact on cash circulation and banks, will determine how it is designed

Budget 2022 Explained: Highlights and analysis of Nirmala Sitharaman’s Union Budget
Wed, Feb 23, 2022

Union Budget 2022-23 Explained: Finance Minister Nirmala Sitharaman Tuesday presented the Union Budget 2022-23 in Parliament. Here are the highlights from Sitharaman’s Budget speech, and an explanation and analysis of it.

The formal economy – and not just the informal sector – is in distress
Fri, Jan 21, 2022

🔴 Ishan Bakshi writes: Between April 2020 and September 2021, 23 per cent of India’s formal labour force availed of an advance from EPFO to meet Covid-19 expenses

How the pandemic has worsened inequality in India
Tue, Dec 14, 2021

🔴 Ishan Bakshi writes: It has adversely affected chances of social mobility. This could combine with already high levels of inequality of opportunities and precipitate greater demands for income redistribution.

India’s power discoms are at a critical point
Sat, Nov 06, 2021

Ishan Bakshi writes: Increasing push towards solar energy, shifting of hitherto cross-subsidising private entities to renewable energy has compounded perilous position of utilities making need for reforms more urgent.

What the continued distress in informal labour market says
Tue, Oct 05, 2021

Ishan Bakshi writes: It points towards a continuing divergence in the fortunes of the formal and informal parts of the economy.

Drafted in the name of consumer interest, the proposed e-commerce rules shield vested interests
Thu, Jul 15, 2021

Ishan Bakshi writes: In a capital-deficit country, rather than welcoming capital, we seem to be creating more and more hoops for it to jump through

Cash-strapped power distribution companies need radical intervention, not another financial aid package
Sat, Jun 19, 2021

Centre has routinely stepped in to rescue discoms in distress, but dues have continued to rise. Minor tinkering will no longer help.

How the bankruptcy code is moving away from its promoter-averse approach
Fri, Apr 16, 2021

Amendments to the Insolvency and Bankruptcy Code framework are a step towards addressing lacuna in its original architecture. The code is transitioning away from a creditor-centric approach.

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?