Columnists

Neelkanth Mishra

The writer is co-head of Asia Pacific Strategy and India Strategist for Credit Suisse.

What explains the high numbers of COVID cases in Delhi?

Wed, May 05, 2021

The surge in cases and deaths might be a result of patient migration from surrounding districts. A revamp of rural healthcare system is urgent.

New buyers for government bonds needed to bring down borrowing cost

Tue, Apr 06, 2021

Tapping foreign savings is one step in the right direction, but more needs to be done to make the economy conducive to post-pandemic recovery.

Govt is carefully supporting industrial and consumer sentiment to take economy back to pre-pandemic path

Tue, Feb 02, 2021

Despite being acutely aware of the plight of the urban poor, given the lack of efficient channels to provide direct help, the government is relying on boosting economic growth, which can then create opportunities for them.

An Expert Explains: What to look for in Union Budget 2021

Sat, Jan 30, 2021

On February1, Finance Minister Nirmala Sitharaman will present what could turn out to be India's most consequential Budget in years. What is the status of the post-Covid recovery process, and what are the concerns going forward? What should you look for in the Budget – and what should the Budget be looking at?

A calibrated package: Govt’s restraint in spending is commendable

Sat, Nov 14, 2020

One must appreciate the restraint in “spending other people’s money”, a tendency most regimes find hard to resist. But it is equally important that nominal GDP growth picks up strongly.

New MPC’s unambiguous messaging on inflation should help buyers of government bonds take the risk

Mon, Oct 12, 2020

The economic scars of the last six months are likely to take time to heal, the financial system still needs a major overhaul, and the only permanent solution to the large BoP surplus is stronger domestic demand, which will take time, and is best achieved through a well-designed fiscal stimulus.

An Expert Explains: Decoding India’s GDP contraction by 23.9%

Sun, Sep 13, 2020

The contraction seen in first-quarter GDP data is severe, but not unexpected. What should be done — or not done – at the level of govt policy so that the economy gets a chance to rebound as quickly as possible?

Geographical spread of virus poses new policy challenges

Wed, Jul 29, 2020

As private investment and consumption settle at far lower levels than earlier anticipated, the government’s role in the economy over the next two years or so would need to be much larger than it has been in the last three decades.

Fund for MSMEs will ease credit, but govt may have to scale up support in coming months

Fri, May 15, 2020

We believe a continued focus on reforms and on sustaining India’s growth potential will be critical in preventing macroeconomic instability.

First stimulus by Centre targets poor, later announcements should keep the financial system running

Sat, Mar 28, 2020

Some observers are also concerned about what high deficits would do to India’s credit ratings. It remains to be seen how agencies respond to globally large fiscal deficits monetised by central banks; India may not be an outlier here.

FM tried to address issues facing the economy. But state and municipal budgets are equally critical

Thu, Feb 06, 2020

With central reforms increasingly announced outside budget speeches, and both revenue and expenditures starting to become predictable, it might be more productive for public attention to move to other areas of government functioning like state and municipal budgets.

Large disinvestments could help bridge fiscal shortfall and maintain government spending growth

Fri, Aug 30, 2019

The government needs to take a decisive approach on the financial architecture in India: It needs to take an axe to the system, as a scalpel will no longer suffice.

Opening a window

Mon, Jul 08, 2019

Budget takes a calculated risk to fund part of borrowings through foreign currency bonds

How to use the mandate

Fri, May 31, 2019

New government should utilise its enormous political capital to introduce economic reforms

Reviving growth requires better coordination between fiscal and monetary policies

Wed, Apr 17, 2019

The constraints in the financial system have further worsened the monetary tightness. As growth continues to slow and inflation stays below the target, interest rates may keep falling, but likely not fast enough to revive growth quickly.

Managing the stimulus

Tue, Feb 05, 2019

The income transfer scheme was the highlight of the budget. But its success will need deft manoeuvring.

An agenda for energy

Tue, Oct 23, 2018

India needs to bring structural changes, reset targets, influence global policy and choices.

India’s Dutch disease?

Mon, Jun 18, 2018

With volatility in global currency markets up again, debate on rupee’s correct value has restarted

The missing learning curve

Mon, Jul 03, 2017

We need to build institutional memory, improve decision-making. Let’s start with data

Beyond the farm

Thu, Mar 30, 2017

Recent surveys suggest a sharp drop in agricultural employment. What must the government do?

Cash is medieval, cards break vicious economic cycles

Fri, Dec 30, 2016

Cards provide better security and don’t face the problem of providing change.

Risk and some disorder

Wed, Nov 16, 2016

There had been a clamour for radical reforms. Demonetisation shows what real reforms feel like.

Fools rush in

Fri, Sep 23, 2016

GST is a reform long delayed. But there may be good reason not to hurry it through now.

Paradox of plenty

Mon, Aug 22, 2016

Farm incomes may not revive despite good monsoon. There are new challenges for policymakers.

Modi government @2: Reassess the report card

Mon, Jun 06, 2016

They ignore the extremely high risk of an attempt at privatisation being effectively stillborn, unacceptable to state governments.