Columns

By: Ajit Ranade
Category: RBI, Indian economy
Dr. Patel has been Deputy Governor for three and half years, and in that sense is an insider. He also chaired the committee that laid the framework for inflation targeting. This became the predominant mandate of RBI, when the Government of India and the RBI signed an agreement last year.
By: Martin Macwan
Category: Common citizen, India politics, Inclusive growth
There seems to be limited options for dalits in India for their ‘own’ independence. They have to create their own avenues of hope within their own segregation. As we stand today, reservation offers them a ‘special status’ but not ‘equal’ status. It will take a lot to change this.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: RBI, India politics, Indian economy
In his book, Dr. Subbarao says, “…the high interest rate regime would be the main area of difference between the government and the RBI.” Nevertheless, he and Dr. Rajan have left behind a legacy which has virtually cast in stone the philosophy that price stability is the ultimate goal of the RBI.
By: Usha Thorat
Category: Common citizen, RBI, Indian economy
Wage inflexibility in the public sector, a high level of mandatory investments in government securities, and public sector control of banks are some of the rigidities that impede better transmission. Also the operating framework of the monetary policy has an impact on transmission.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, RBI, India politics
The policy stands out as a unique document in terms of macroeconomic developments, liquidity management, pass-through of past policy repo rate cuts to lending rates and more importantly the linkages between corporate sector credit demand and business, and public sector bank balance sheets.
By: Ajit Ranade
Category: GST
The friction caused by the myriad of state level and inter-state taxes will go away, improving the ease of doing business. Just entry taxes alone are responsible for the fact that inter-state movement of trucks is slow, because 60 per cent of the time they are at standstill at check posts.
By: Ajit Ranade
Category: Indian economy
The textile sector, along with construction, agriculture and tourism is one of four most-labour intensive sectors of the economy. It has huge potential for generating sustainable jobs as well as export earnings. Currently, it employs about 35 million people, and contributes 12 per cent of exports.
By:
Category: India politics, Indian economy, Inclusive growth
Whichever method a government chooses for governance of the country, it must improve its ability to use it. Dictators can govern well or poorly. Elections can be conducted fairly or badly. Similarly, stakeholder participation will not improve governance if it is not well conducted...
By:
Category: Common citizen, India politics, Indian economy
A popular movement against corruption, swelling in 2013, and the perception that governance had become paralyzed, enabled Narendra Modi to lead the BJP to a spectacular victory in the 2014 national elections. He promised Minimum Government and Maximum Governance.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: RBI, India politics, Indian economy
As Raghuram Rajan prepares to move out of the office of the RBI Governor, the implications of his exit and the manner in which he has been booted out raise important issues that go well beyond the RBI and will reinforce fears that the establishment will brook no voice that does not sing its tune.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Global, RBI, Indian economy
The Reserve Bank of India (RBI) has sought to assure the markets that the outflow, which it estimates will be to the tune of US $ 20 billion, will be addressed in a non-disruptive manner but market sentiment continues to be governed by the fear of a speculative attack on the rupee.
By:
Category: Common citizen, Governance, India politics
I must see the film “Udta Punjab” next week! I am told that the proliferation of drugs in the State is the single problem that the inhabitants are discussing in their drawing rooms and village dhabas. Thirty years ago when I was sent to the Punjab by Rajiv Gandhi, the talk was all about Terrorism.
By: Ajit Ranade
Category: India politics, Indian economy, Blackmoney
The government announced an amendment to the Double Tax Avoidance Agreement between India and Mauritius. The DTAA was signed between the two countries in August 1982 and notified in December 1983. For the past thirty-three years, it has been a key factor affecting foreign inflows into India.
By: Usha Thorat
Category: Common citizen, RBI, Indian economy
Any increase in bank deposits higher than credit growth, any reduction in bank borrowing from RBI on a consistent basis, reduction in government’s cash balances with RBI, and increase in RBI’s holding of government securities and foreign exchange reserves, are all indicators of improving liquidity.
By: Ranjit K Pattnaik, Jagdish Rattanani
Category: Common citizen, RBI, Indian economy
When the source of inflation originates from supply shocks, the efficacy of monetary policy is severely challenged. The answer is structural reforms. In India, it is high time the policy makers and authorities should rebalance the growth strategy between agriculture, manufacturing and services.
By:
Category: India politics, Indian economy
Recently the Supreme Court has given directives for what types of cars should be permitted to drive in Delhi, and at what times trucks can be permitted to enter the city. The Finance Minister has complained that Indian courts are over-reaching themselves, meddling with matters outside their purview
By: N P Ashley
Category: India politics, Inclusive growth
The real new item on the menu is the Bharatiya Janata Party’s one seat in the assembly. Both the BJP side and the anti-BJP side seem to view a “domino effect” in this. This grand symbolic value attached to the BJP’s entry might mean something in the case of the confidence of the party cadre.
By: Jagdish Rattanani
Category: RBI, India politics, Indian economy
By further arguing that this view enjoys the support of a large number in the BJP, Swamy is committing the ruling party to a line and an argument that carries deep implications not only for the economy but also for the political tone and direction of the ruling party.
By: Himadri Bhattacharya
Category: Global, RBI, Indian economy
In the past, both the government and the RBI would routinely claim after episodes of fall in rupee's exchange rate that there would be little or no adverse implication for growth, inflation and budgetary position. But the facts turned out to be different, especially for inflation and fisc.
By: Ajit Ranade
Category: China-India
This year China completes fifteen years of its WTO membership. According to the conditions of its entry, it was guaranteed an MES latest by the end of 15 years, no matter what. Many members of WTO especially the European Union and USA are uncomfortable about granting MES to China...

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