Economic Studies
Dealing with Domestic Black Money

Black money has two aspects Domestic and international. These two are interlinked at some level but can be tackled separately. In India domestic black money is large and it creates havoc with our economy by de-stabilizing many government policies.

Is Selling PSBs to Foreigners Rajan's Agenda?

If news reports are to be believed, the Finance Ministry seems to be caving in to the RBI strategy to sell Public Sector Banks and is raising the limits of FDI in banks to 49% — thus virtually paving the way for handing the PSBs, which are at th

Indian Economy for Dummies - II

In the second of a three-part series on the Indian economy ahead of the presentation of the Union Budget, well-known commentator on political and economic affairs, S Gurumurthy argues that the Indian family’s instinct to save in banks rather tha

Indian Economy for Dummies - I

It’s that time of the year when ‘experts’ throw around intimidating economic jargon to ‘advise’ the government and ostensibly enlighten us all on what’s wrong with our economy. Starting today, we bring to you well-known commentator on

FRBM Law is Irrational. Amend it (Part II)

The way economists have made simple theories into complex mathematical equations has made monetary economics seem difficult to comprehend. Well-known economists, including Nobel laureate Robert Shiller and Prof Bradford DeLong, have already proteste

Fiscal Deficit: Story of the Magic '3' Per cent (Part I)

Magic 3% Three per cent Fiscal Deficit! This is a dream announcement any finance minister of India would love to make. Fiscal deficit is the excess of payments over receipts of the government. The quantum of fiscal deficit in budgets in Ind

Budget 2016: A Delicate Balancing Task achieved

All budgets are in a sense compromises with different stakeholders. Whether it is a housewife making budget for home or a Chief Finance officer for a company or Finance minister for the Government. The core issue is that expenditure is always larger

GDP numbers-First time, how reliable?

India’s economic growth for the financial year 2016 has been estimated at 7.6 per cent as compared with the revised estimate of 7.2 per cent in the previous year, aided mostly by growth in the manufacturing sector. However, the GDP growth for th

Memo to Finance Minister Arun Jaitley

Memo to FM: An education bank, easy loans to India Uninc, tax breaks for savers – and my dog Since it is customary to give unsolicited advice to the finance minister in the run-up to the budget, here are some. In order to make it easy for

Transnationals/Tax Havens/Terrorism - How the TTTs destroyed Westphalian consensus on National Sovereignty

In the context of the strikes made against terror camps on the border of Manipur/Nagaland by the Indian Army; there has been number of discussions about national sovereignty and the role of individual States. Actually in the last few decades the acti

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