Amartya Lahiri

The writer is professor of economics, Royal Bank research professor and Johal Chair, University of British Columbia, Canada

Articles By Amartya Lahiri

Economic slowdown may be structural, not cyclical. It calls for removal of long-term reform

The government would also do well to revisit the appointments process to key technical and regulatory bodies. Functions like monetary policy, banking supervision, data collection and dissemination, audit of government financial accounts, are all technical jobs.

A recipe for growth

India should learn from its past, and speed up critical reforms

New government at Centre should focus on land and labour reforms

The scale of India’s development challenge is immense. The country needs to play the long game and it needs to start now. There is no time to lose. Hopefully, the renewed mandate will give the Modi government the political will and space to pursue overdue land and labour reforms.

Competitive populism threatens to undo the gains of economic reforms

To sustain its growth story, India now desperately needs a next generation of reforms. Amongst the most important ones are land and labour reforms to encourage manufacturing to scale up

India has to send out unequivocal signals that it’s a reliable trade partner that wants to become part of global supply chain

US move to withdraw privileges provides an opportunity for India to introspect on the general state of its exports.

Square pegs, round holes

Possibly the most problematic aspect of evaluating the budget is the opaqueness of the underlying data.

Legislating payments out of RBI’s excess capital could compromise its independence

Putting a part of the country’s assets in a protected entity like the central bank builds fiscal credibility of the country as long as the central bank is viewed by markets as being independent of the government.

Lost opportunity

India missed the chance to usher in second generation reforms and free up private enterprise

Bank and its critics

RBI has a more coherent case on capital base, performance and autonomy than its critics. Central banks need to be adequately capitalised in order to perform their core functions which include being the lender of last resort for the banking system.

A discredited playbook

Move to impose barriers on imports to manage the current account deficit is a throwback to the licence raj. We need to focus on the systemic issues pulling down productivity in export sectors.

Cut the confusion

RBI has been accommodative: Just compare the real interest rate with the ‘natural’ rate

High costs, meagre gains

Far from curbing black money and corruption, demonetisation has disrupted the economy.

Don’t blame MSP for inflation

Ill-thought-out assertions about the efficacy of monetary policy can unhinge private expectations of inflation.