The Post-1991 Growth Story
Jul 29th 2016, C.P. Chandrasekhar
Economic growth post liberalization has been riding on a credit bubble. Neither has it made the manufacturing or exports sector robust, nor has delivered any benefits to those steeped in poverty and deprivation.
A Picture of Inequality
May 10th 2016, C.P. Chandrasekhar and Jayati Ghosh
The government's decision to release income class-wise details on tax returns allows an assessment of the extent of inequality in the distribution of income among tax payers.
On Data and Decision-making
Apr 13th 2016, C.P. Chandrasekhar and Jayati Ghosh
Wide differences in official data based on series with different base years or from alternative sources lead to questions about their relevance for decision making.
How much has Global Economic Power Really Shifted?
Mar 31st 2016, C.P. Chandrasekhar and Jayati Ghosh
This article analyses the significance of shift in global economic power from the North to the South and what exactly it means for the countries in developing Asia like India.
Understanding "Secular Stagnation"
Oct 15th 2015, C.P. Chandrasekhar and Jayati Ghosh
This article discusses the issue of the "new normal" of low or stagnating output growth that the analysts and reports of international organisations are talking about.
India: The global laggard in meeting the MDGs
Sep 11th 2014, Jayati Ghosh
Most of the eight Millennium Development Goals given by the UN will not be achieved due to lack of progress in Sub Saharan Africa and South Asia, particularly in India.
The State and Indian Planning
Sep 9th 2014, C.P. Chandrasekhar
Though the Planning Commission faltered in residual developmental role, but instead of reforming it the scrapping indicates towards systematic dismantling of checks and balances.
Banking with a Difference
Aug 12th 2014, C.P. Chandrasekhar
Democratic forces in BRICS and other countries have to ensure that the BRICS bank acts differently from existing development banks to be a true alternative as expected.
UPA-2 and Welfare Schemes
May 29th 2014, C.P. Chandrasekhar and Jayati Ghosh
Contrary to the argument that UPA-2 wasted too much money on "populist" schemes, it actually neglected and spent less on these important welfare initiatives than UPA-1.
Democracy, Neoliberalism and Inclusiveness
Nov 26th 2013, C.P. Chandrasekhar
A strategy of inclusive development is required instead of the rhetorical ''inclusive growth'' propagated by two main political parties in the run-up of next general election.
Credit and Capital Formation in Agriculture: A growing disconnect
Nov 21st 2013, Pallavi Chavan
Capital formation in agriculture in recent past suffered due to overemphasis on short-term and indirect credit, but this may prove to be costly for future sectoral growth.
Goliath's Nasty Ways: Chevron and the people of the Amazon
Nov 14th 2013, Jayati Ghosh
In the Ecuador environment damage case, Chevron’s act of influencing the verdict in a counter-suit filed in the US shows the universal lack of accountability in global firms.
India's Informal Economy
Oct 29th 2013, C.P. Chandrasekhar and Jayati Ghosh
India's large informal sector's extreme backwardness makes the quality of growth poor. Existing vague definitions also do not help in understanding its potential.
Tripura's Tryst with Literacy
Oct 24th 2013, Subhanil Chowdhury and Gorky Chakraborty
While all kinds of development model are debated furiously, the small state of Tripura is making rapid strides in improving literacy and other development indicators.
Making Growth Deliver Exports – Not the other way around
Sep 18th 2013, Jayati Ghosh
With the North reducing import dependency, the neo-liberal export led growth model must be replaced by raising domestic demand and industrialisation in the South.
Affordable Medicine: A big step forward
Apr 27th 2012, C.P. Chandrasekhar
The recent judgement by India's Controller of Patents granting Compulsory License to an Indian pharmaceutical company for the production of a cancer drug, the patent for which is held by German pharmaceuticals and chemicals giant Bayer, is not just historic but path breaking.
Factor Shares in the Indian Economy
Apr 17th 2012, C.P. Chandrasekhar and Jayati Ghosh
The functional distribution of national income is relatively ignored by researchers interested in income distribution in India. An analysis of CSO's data on factor shares in the past three decades shows that the the period of most rapid acceleration of growth was also the period of the sharpest fall in the share of the unorganised sector in GDP. Although this change is to be welcomed, the concern is that it has not been accompanied by any increase in the organised sector's share in total employment.
Unique Identity, Leakages and Development
Dec 16th 2010, Jayati Ghosh
The latest initiative of the Government of India, the UID project, apparently appears to have many advantages for ordinary citizens, especially the poor. But there is a fundamental mistake in presuming that this will do away with corruption and leakages, because it misses out the fact that it is the power relations that enable and assist the pattern of corruption in India. Also the project can lead to an invasion of basic privacy and undesirable monitoring by the state.
Measuring Progress
Sep 30th 2009, Jayati Ghosh
The limitations of GDP and HDI that are used as standard measurements of growth and development might have prompted President Nicolas Sarkozy to set up a commission to look into alternative ways of measuring economic and social progress. However, the report of the commission, instead of making much headway, has added to the existing debate, thereby leaving some of the most crucial questions unanswered.
Assessing the Recent West Bengal Experience
Mar 20th 2009, Jayati Ghosh
A report prepared by Indicus Analytics on the economic development of West Bengal tries to portray a dismal performance of the state with regard to growth, employment, poverty reduction, health etc. The article tries to question the findings of the report and argues that in many counts West Bengal has performed much better than the national average.
Health Imbalances
Mar 5th 2009, Jayati Ghosh
While India has one of the worst health indicators in the world, there is a paucity of ideas and initiatives to take care of the problem of health. The recent Report of the Independent Commission on Development and Health in India shows the imbalances with regard to health indicators in the country and makes important recommendations to fix the ailing public health system.
Where have all the footpaths gone?
Feb 3rd 2009, Jayati Ghosh
The author puts forward a new definition of underdevelopment in terms of lack of amenities for pedestrians in towns and cities. Although the problems of urban slums have been discussed in the context of rapid urbanisation, the importance of having safe, continuous and usable walking spaces, which are almost lacking in many urban sprawls across the developing world, seems to be missed out.
The Loss of Development Finance
Oct 23rd 2008, Jayati Ghosh
The financial tsunami that is now threatening to engulf many developing countries as well, makes all the more clear the dangers posed by unregulated financial markets. As is known, in addition to creating the conditions for greater fragility, financial liberalisation generates a bias towards deflationary macroeconomic policies and forces the state to adopt a deflationary stance to appease financial interests. In fact, financial liberalisation in developing countries has even worse consequences, because it can retard or even reverse the development.
Recent Growth in West Bengal
May 12th 2008, C.P. Chandrasekhar & Jayati Ghosh
The state of West Bengal has been the focus of national discussion because of the various implications of its proposed industrialisation policy. In this article the authors consider the background to this policy by analysing the most recent available evidence on growth trends in West Bengal.
Digital Dumps: A Growing Threat for Developing Countries
Mar 17th 2008, Jayati Ghosh

The management of huge and growing quantities of electronic waste may emerge as one of the more important environmental problems of developing countries in the near future. The problems arise from the very significant health and environmental hazards associated with e-waste. As usual, this impact is worse in developing countries, where people often live in close proximity to dumps or landfills of untreated e-waste.

Unravelling India's Growth Transition
Nov 2nd 2007, C.P. Chandrasekhar
India's GDP growth has experienced a sudden boost in the middle of 2003. One specific component of the services sector, and interestingly, manufacturing growth seems to have contributed significantly to this transition in growth pattern. But the fact that the domestic market, which played a major role in this scenario, was driven in the final analysis by a financial boom that eased credit availability, reduced interest rates and encouraged debt-financed consumption and investment, makes the growth process fragile and a cause for concern for future policymaking.
Dealing with Short-Term Migration
Oct 4th 2007, C.P. Chandrasekhar & Jayati Ghosh

Short-term migration for work has evidently increased rapidly in recent times in India, but our statistical systems are currently not adequate to capture such flows of labour. In this edition of MacroScan, C.P. Chandrasekhar and Jayati Ghosh discuss the limitations of the existing data, the tendencies that do emerge and the policy implications of short-term economic migration.

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