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CSEP Annual Report 2023
Saturday, August 24
Domains
Growth, Finance, Health & Human Development
Energy, Natural Resources & Sustainability
Foreign Policy & Security
Publications
People
Researchers
Communication & Development
Administration & Finance
Staff Directory
Vikram Singh Mehta
Chairman & Distinguished Fellow
Laveesh Bhandari
President and Senior Fellow
Rakesh Mohan
President Emeritus & Distinguished Fellow
Shivshankar Menon
Distinguished Fellow
Montek Singh Ahluwalia
Distinguished Fellow
Anoop Singh
Distinguished Fellow
Jaimini Bhagwati
Distinguished Fellow
N.K. Singh
Distinguished Fellow
Shishir Gupta
Senior Fellow
Rahul Tongia
Senior Fellow
Rajesh Chadha
Senior Fellow
Sandhya Venkateswaran
Senior Fellow
Janak Raj
Senior Fellow
Renu Kohli
Senior Fellow
Amita Batra
Senior Fellow
Amarjeet Sinha
Senior Fellow
Constantino Xavier
Senior Fellow
Uday Singh Mehta
Visiting Senior Fellow
Indrani Gupta
Visiting Senior Fellow
Om Prakash Mathur
Visiting Senior Fellow
Sanjay Kathuria
Visiting Senior Fellow
T.G. Srinivasan
Visiting Senior Fellow
Shalabh Srivastava
Visiting Senior Fellow
Amaresh Dubey
Visiting Senior Fellow
Shreekant Gupta
Visiting Senior Fellow
Deepak Maheshwari
Senior Consultant
Bhaskar Chakravorti
Non-Resident Senior Fellow
Ramu Damodaran
Non-Resident Senior Fellow
Richard K. Green
Non-Resident Senior Fellow
Daljit Singh
Fellow
Rajasekhar Devaguptapu
Fellow
Debarpita Roy
Fellow
Sharath Rao
Fellow
Shyamasis Das
Fellow
Priyadarshini Singh
Fellow
Neethi Rao
Fellow
Amrita Agarwal
Visiting Fellow
Ashwini Chitnis
Visiting Fellow
Nandita Bhan
Visiting Fellow
Indranil Mukhopadhyay
Visiting Fellow
Vandana Vasudevan
Visiting Fellow
Yashika Singh
Visiting Fellow
Anirudh Shingal
Visiting Fellow
Anuradha De
Visiting Fellow
Jabin Jacob
Non-Resident Fellow
Anit Mukherjee
Non-Resident Fellow
Badri Narayanan Gopalakrishnan
Non-Resident Fellow
Sahil Gandhi
Non-Resident Fellow
Rajat Verma
Associate Fellow
Riya Sinha
Associate Fellow
Amshika Amar
Associate Fellow
Pooja Vijay Ramamurthi
Associate Fellow
Veda Vaidyanathan
Associate Fellow
Prerna Prabhakar
Associate Fellow
Ganesh Sivamani
Associate Fellow
Utkarsh Patel
Visiting Associate Fellow
Abhishek Kumar
Non-Resident Associate Fellow
Events
Upcoming Events
Past Events
Conferences
External Engagements
Videos
Explainer
In Dialogue
Mining Matters
India and the World
Union Budget Reflections
About
Who We Are
Founders Circle & Friends
Funding & Support
Board of Directors
Annual Report & Financials
Current Openings
Internships
Press Releases
Research
Opinion & Commentary
Topic
Publications
All
Papers
Opinion & Commentary
Books & Chapters
Journals and Other Publications
Blogs
Domain
All
Energy, Natural Resources & Sustainability
Foreign Policy & Security
Growth, Finance, Health & Human Development
Topic
All
Financial Sector & Development
Fiscal Governance and Architecture
Governance & Institutions
Health and Human Development
Macroeconomic Policy, Trade & Competitiveness
Sub-National Economy
Authors
All
Aakanksha Shrawan
Aakshi Chaba
Aaron Savio Lobo
Aarushi Dave
Aasheerwad Dwivedi
Aashi Gupta
Aashita Dawer
Abhishek Mishra
Abhishek Kumar
Adie Tomer
Aditi sudan
Adrianna Pita
Annie George
Aishwarya Agarwal
Ajai Nirula
Ajay Chhibber
Ajey Sangai
A K Gupta
Akhilesh Upadhyay
Alex Tabarrok
Alina Polyakova
Alok Kumar Singh
Amanda Sloat
Amar Bhattacharya
Amaresh Dubey
Amarjeet Sinha
Ambuj Chaturvedi
Ambuj Roy
Amish Raj Mulmi
Amita Batra
Amitendu Palit
Amitesh Sirvaiya
Amrita Agarwal
Amshika Amar
Amy Liu
Ananth Krishnan
Aneka Rebecca Rajbhandari
Angira Shukla
Anindita Sinh
Anirudh Shingal
Anit Mukherjee
Ankit Bhatia
Ankita Garg
Anoop Singh
Antara Ghosal Singh
Anthony W. Orlando
Anupam Nanda
Anuradha De
Anuradha Sajjanhar
Anurag Sehgal
Anushka Saxena
Aparajita Nair Dmonty
Aparna Preethan
Aparna Roy
Aprajita Prasad
Aradhika Menokee
Arnab Dutta
Arun K Mishra
Asanga Abeyagoonasekera
Ashley Jose
Ashok K Lahiri
Ashok Sreenivas
Ashwini Chitnis
Ashwini Narayanan
Avani Kapur
Axel Nordenstam
Ayush Khare
Badri Narayanan Gopalakrishnan
Baran Pradhan
Barun Deb Pal
Beverly Milton Edwards
Bhanubhatra Jittiang
Bhaskar Chakravorti
Bhavna Sharma
Bhavyanshi Sinha
Bhumika Sharma
Bibek Debroy
Biplob Chatterjee
Will Moreland
Brookings
Brookings Institution
Bruce Jones
Bruce Riedel
Chanakya Chaudhary
Charles K Ebinger
Charmi Mehta
Chathumi Ayanthi Kavirathna
Cheng Li
Cheshta Grover
Christina Kwauk
Christopher Meserole
Chunalee Attanayake
Colette D Honorable
Collin Koh Swee Lean
Constantino Xavier
Constanze Stelzenmuller
D P Sengupta
Daljit Singh
Dan Arbell
Daniel L Byman
Dany Bahar
Darrell M West
David Dam
David Dollar
David G Victor
David Wessel
Debapriya Saha
Debarpita Roy
Deborah Seligsohn
Deepak Agrawal
Deepak Maheshwari
Deepak Premnarayen
Devashish Sharma
Dhruv Gupta
Dhruva Jaishankar
Dhruva Teja Nandipati
Divya Jain
Divya Srinivasan
Diana Liang
Dweepobotee Brahma
Eun DuBois
Elizabeth Ferris
Emily Gustafsson Wright
Eswar Prasad
Eul Noh
Federica Saini Fasanotti
Filippos Letsas
Frank A Rose
Fred Dews
Fuad Cassim
Ganesh Sivamani
Gaurav Dalmia
Gautam Ray
Geethanjali Nataraj
Geetika Dang
Geetika Gupta
George Skaria
Gulzar Natarajan
Gurmeet Kaur
Hana Chambers
Harsha Vardhana Singh
Hasna Munas
Hillary Schaub
Homi Kharas
Honey Karun
Howard Schaffer
Ian Wallace
Indrani Gupta
Indranil Mukhopadhyay
Isha Agarwal
Ishita Kapoor
Izzy Boggild Jones
Jabin Jacob
Jack Karsten
Jahnavi Mukul
Jaimini Bhagwati
James Kirchick
Janak Raj
Janani Shankaran
Javier Solana
Jayapadma RV
Jeffrey A Bader
Jeffrey Ball
Jessica Seddon
Jessica Brandt
Jhalak Aggarwal
Jitesh Rastogi
Jonathan D Pollack
Joseph Chinyong Liow
Joseph Kane
Joshua P Meltzer
Jennifer Perron
Jung Hyun Choi
kritima Bhapta
K Prahalad
Kadira Pethiyagoda
Kanak Gokarn
Kandarp Patel
Kanishkh Kanodia
Karthik Nachiappan
Katy Collin
Kausheya Basu
Kaushik Basu
Kaveri Thara
Kavita Patel
Karthik Bansal
Kristen BelleIsle
Kemal Kirisci
Ketan Gupta
Kevin James
Khushboo Balani
Kingsley Chiedu Moghalu
Krishanu Karmakar
Krishnamurthy Subramanian
Kriti Raj Rai
Kunal Bali
Laveesh Bhandari
Laura McGhee
Louise Tillin
Lucas Daley
Lydia Jayakumar
M.R Saluja
Madhavan Somanathan
Madhulika Khanna
Madhurima Nundy
Mahesh Kumar Kushwaha
Maitreyee Mangu
Mallika Anand
Mariam Koruth
Mark Muro
Martin Indyk
Martin S Indyk
Matteo Garavoglia
Mayank Mishra
Mayuri Gupta
Medha Prasanna
Michael E Ohanlon
Michael O Hanlon
Miheer Jain
Mireya Solis
Monica Herz
Monica Sharma
Montek Singh Ahluwalia
Mudit Kapoor
Muhammad Tabish Parray
Nachiket Mor
Nadine Monteiro
Naini Swami
Nancy Gupta
Nandini Agnihotri
Nandita Bhan
Natan Sachs
Nathan Hultman
Naushad Forbes
Navroz K Dubash
Neelanjana Gupta
Neelima Khetan
Neethi Rao
Neil G Ruiz
Network Eighteen
Niara Sareen
Nidhi Varma
Niharika Mehrotra
Nikhil Iyer
Nikhil Tyagi
Nirupama Jayaraman
Nishmeet Singh
Niteesh Shanbog
Nitika Mehta
Nitika Nayar
N.K. Singh
Om Prakash Mathur
Pankhuri Bhatt
Pariroo Rattan
Partha Ray
Patricia F Harris
Pavel K Baev
Pawani Dasgupta
Peter Jarka-Sellers
Peter Nichols
Philip A Wallach
Philippe Le Corre
Pooja Ramamurthi
Prabhash Ranjan
Prachi Singh
Pradeep Guin
Prajakta Shukla
Preeti Sinha
Prerna Prabhakar
Prerna Sharma
Pritam Banerjee
Priti Dubey
Priyadarshini Singh
Priyam Awasthi
Priyanka Tomar
Puneet Kamboj
Puneeth Nagaraj
Purvaja Modak
Radha Malani
Rahul Ahluwalia
Rahul Dhir
Rahul Tongia
Rahul Walawalkar
Rahul Ranjan
Rajasekhar Devaguptapu
Rajat Kathuria
Rajat Verma
Rajeev Kumar
Rajesh Chadha
Rajeswari Rajagopalan
Rakesh Mohan
Ram Ranjan
Ramandeep Jakhu
Ramandeep Singh
Ramu Damodaran
Randeep Guleria
Ranj Alaaldin
Rashmi Saurav
Rashmi Kundu
Raunab Singh Khatri
Ravi Shankar Chaturvedi
Rebecca Winthrop
Reena Sudan
Renu Kohli
Rhea Sethi
Richa Roy
Richard C Bush
Richard K Green
Ridhi Purohit
Ritwik Shukla
Ritwika Sharma
Riya Sinha
Robert Einhorn
Robert J Einhorn
Robert L Mckenzie
Robert Puentes
Rohan Sandhu
Rohit Reddy
Rohit Vijay
Rishita Sachdeva
Rush Doshi
Ryan Hass
S V Subramanian
Sachin Chaturvedi
Sagnik Dey
Saheb Singh Chadha
Sahil Ali
Sahil Gandhi
Samantha Gross
Samar SJB Rana
Sampriti Mukherjee
Sana Ali
Sandhya Venkateswaran
Saneet Chakradeo
Sanjana Hattotuwa
Sanjay Kathuria
Sanjna Agarwal
Santosh Harish
Sara Perlangeli
Sarah Yerkes
Sarvoday Kumar
Saumya Jain
Sejal Yadav
Shahidul Haque
Shahtaj Mahmud
Shalabh Srivastava
Shalini Chauhan
Shamika Ravi
Shaonlee Patranabis
Sharad Pandey
Sharath Rao
Shauryavir Dalal
Shayak Sengupta
Shifali Goyal
Shishir Gupta
Shivshankar Menon
Shreekant Gupta
Shruti Jargad
Shruti Gakhar
Shruti Godbole
Shruti Gupta
Shruti Jargad
Shruti Slaria
Shyamasis Das
Siddharth Singh
Sikim Chakraborty
Sisir Debnath
Suzanne Maloney
Sofi Bergkvist
Sofia Shehana Basheer
Sourangsu Chowdhury
Srestha Banerjee
Srishti Katoch
Stephen P Cohen
Steven Pifer
Strobe Talbott
Subhanshi Negi
Subhashini Abeysinghe
Subir Gokarn
Sukhmani Kaur Toor
Sumit Prasad
Supriya Ravishankar
Suzanne Maloney
Swati Mitchelle Dsouza
Tamara Cofman Wittes
Tanima Pal
Tanvi Madan
Tarandeep Kaur
Tarun Chhabra
Tarun Khanna
TCA Avni
CSEP
Ted Piccone
Teresita C Schaffer
Teresita Schaffer
TG Srinivasan
Tim Boersma
Timmons Roberts
Todd Stern
Torrey Taussig
Trishna Wahengbam
Uday Mehta
Ulrich Voltz
Umesh Kumar
Umika Chanana
Urvashi Sahni
Utkarsh Dalal
Utkarsh Patel
V Anantha Nageswaran
Vaidehi Tandel
Valbha Shakya
Vanda Felbab Brown
Vandana Vasudevan
Veda Vaidyanathan
Vikram Singh Mehta
Vinod Thomas
Vrinda Gupta
Vrinda Gupta
Vyoma Jha
Waheguru Pal Singh Sidhu
Will Moreland
William A Galston
William J Antholis
Yashika Singh
Yashobanta Parida
Zachary Balin
Zhuo Zhang
Year
All
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Publications : Opinion & Commentary
Opinion & Commentary
Financial Sector & Development
Angry, Young Men
A snapshot preview of Bangladesh’s growth track shows it bucked the slowing world economy for almost one-and-half decades till 2019, growing 6.4% a year on average
Renu Kohli
August 20, 2024
Opinion & Commentary
Financial Sector & Development
Outrage Over Reform in Capital Gains Tax is Overblown. Here’s Why
Even after the recent changes, India's capital gains tax regime remains relatively moderate compared to other nations
Divya Srinivasan
&
Rakesh Mohan
August 19, 2024
Opinion & Commentary
Financial Sector & Development
The Likely Trends
The most vocal segments have unequivocally expressed their views at different media forums and through direct engagement in the form of customary pre-budget consultations by the government
Renu Kohli
July 23, 2024
Opinion & Commentary
Financial Sector & Development
Two Decades Of Union Govt Finances in 6 Charts
Through an analysis of expenditure, revenue and borrowing of the Union government, we examine the strategies used to maintain financial stability amid changing economic landscapes.
Aashi Gupta
July 22, 2024
Opinion & Commentary
Financial Sector & Development
Will Investment Optimism Fade?
Renu Kohli examines the factors that create uncertainty about private investment amid slowing consumer demand, inflation, and uncertain global growth.
Renu Kohli
June 4, 2024
Opinion & Commentary
Financial Sector & Development
Modest Assessment
A continuation of past trends — namely, ageing populations and slowing investments and productivity growth together lead to the anticipated slowdown of the world economy by 2030: Renu Kohli.
Renu Kohli
May 24, 2024
Opinion & Commentary
Growth, Finance, Health & Human Development
India’s Missing Jobs — and Where the Next Government can Find Them
We are staring at an employment crisis, which could get worse. But with policy support that could change.
Bhaskar Chakravorti
April 14, 2024
Opinion & Commentary
Financial Sector & Development
Climate Change
Developing World Must Raise Own Climate Finance
Developed countries and MDBs can raise just a third of the requirement. Carbon pricing and ETS will have to play a bigger role.
Janak Raj
April 10, 2024
Opinion & Commentary
Financial Sector & Development
Beyond PLI Targets
A comprehensive strategy is needed to propel India’s manufacturing capabilities.
Janak Raj
April 10, 2024
Opinion & Commentary
Financial Sector & Development
Consumption Trends and Monetary Policy
The falling share of food in households’ spending will help, given food inflation also drives inflation expectations.
Janak Raj
March 4, 2024
Opinion & Commentary
Financial Sector & Development
Behind the rise in Rural Consumption Spending
The National Rural Livelihood Mission, better targeting and delivering of benefits, wider reach of digital infrastructure have contributed to the spurt
Amarjeet Sinha
February 28, 2024
Opinion & Commentary
Financial Sector & Development
Interview | Can private capex offset govt spend curbs in FY25?
Shishir Gupta provides insights into the RBI urging the private sector to take over the responsibility of driving capex. Could it slow down the momentum of govt capex in FY25?
Shishir Gupta
February 23, 2024
Opinion & Commentary
Financial Sector & Development
On a Sobering Note
The International Monetary Fund’s deep dive into global trade fragmentation and restrictiveness shows lasting consequences of raised costs, feeding into inflation and weakening growth.
Renu Kohli
January 17, 2024
Opinion & Commentary
Financial Sector & Development
Why are We Staring at a Global Debt Problem Yet Again?
Hidden debt is a major problem across the world that the G20 Data Gaps Initiative needs to resolve, writes Anoop Singh.
Anoop Singh
January 15, 2024
Opinion & Commentary
Financial Sector & Development
Interview | RBI Policy ने Share Bazaar में भरा जोश,...
Janak Raj
December 8, 2023
Opinion & Commentary
Financial Sector & Development
Then and Now
CSEP Senior Fellow Renu Kohli provides a comparative illustration of the domestic context of the Indian economy then and now to identify critical aspects that could potentially affect the translation of high expectations into actual outcomes
Renu Kohli
November 16, 2023
Opinion & Commentary
Financial Sector & Development
Quota Reform is an Opportunity for the IMF to Restore its Legitimacy
As the IMF strives to complete the 16th General Review and works towards some agreement on quota realignment as part of the 17th General Review, the IMF Board of Governors should strive to reach a consensus on three fundamental changes to the IMF’s resources and governance.
Rakesh Mohan
October 30, 2023
Opinion & Commentary
Financial Sector & Development
Report card
Despite a pandemic, war, higher cost of living and interest rates, economic activity has not stalled or fallen into recession even as inflation continues to decelerate, writes Renu Kohli.
Renu Kohli
October 17, 2023
Opinion & Commentary
Financial Sector & Development
How to Reverse the Longest Downturn in Corporate Capex
Corporate investment, which plays a critical role in driving economic growth, has been in a slump in India for more than a decade. This op-ed analyses the behaviour of corporate savings and investment since 2007-08.
Janak Raj
&
Vrinda Gupta
October 14, 2023
Opinion & Commentary
Financial Sector & Development
Mind the Financing Gap
The total flow of financial resources to the commercial sector, which provides a good grip on the strength of the real economy, is compiled by the central bank.
Renu Kohli
October 3, 2023
Opinion & Commentary
Growth, Finance, Health & Human Development
Geopolitical 20
Time will tell if the geopolitically-driven initiatives prove economically sound, resolve the global debt-cum-climate challenges, and help invigorate the world economy
Renu Kohli
September 19, 2023
Opinion & Commentary
Financial Sector & Development
How to Fix Holes in the Financial Safety Net
In absence of significant governance reform, effectiveness of global financial safety institutions is eroding. India is better off relying, instead, on pursuit of prudent macroeconomic policies.
Rakesh Mohan
&
Amshika Amar
August 22, 2023
Opinion & Commentary
Financial Sector & Development
Another Step Back
India’s objective has been to narrow the trade deficit with China by manufacturing at home. The tariff-raising, safeguard duties have explicitly and systematically targeted lower imports.
Renu Kohli
August 16, 2023
Opinion & Commentary
Financial Sector & Development
Emerging Inflation Dynamics: The Past Could be a Poor Guide for Future...
In food-price management, factors that could hinder the government’s efforts seem to have been ignored, writes Renu Kohli.
Renu Kohli
August 2, 2023
Opinion & Commentary
Financial Sector & Development
Finance Ministers and their Balancing Acts
Laveesh Bhandari reviews AK Bhattacharya's book "India's Finance Ministers: From Independence to Emergency (1947-1977)".
Laveesh Bhandari
June 19, 2023
Opinion & Commentary
Financial Sector & Development
Asia Needs to Focus on Productivity to Lead Global Growth
Sustained productivity growth would be better driven by technological capital deepening with related organisational changes and increased competition that can result in more efficient methods of production, says Anoop Singh.
Anoop Singh
June 1, 2023
Opinion & Commentary
Financial Sector & Development
The UK a Tax Haven?
Is the UK providing refuge to India's absconding financial scamsters? Jaimini Bhagwati examines.
Jaimini Bhagwati
May 25, 2023
Opinion & Commentary
Financial Sector & Development
Leaders of Tomorrow: Expert Panelists Predict India’s Economic...
The discussion touched on many important aspects of India's growth trajectory, and the panelists agreed that India is poised for significant growth in the next 20-30 years.
Montek Singh Ahluwalia
May 16, 2023
Opinion & Commentary
Financial Sector & Development
Our Budget Speeches Capture the Evolution of Government Policy
From ‘an idea whose time has come’ to ‘Digital India’, the words used in Budget speeches have set the theme for India’s economic emergence, write Ayush Khare and Shruti Gupta.
Ayush Khare
&
Shruti Gupta
April 27, 2023
Opinion & Commentary
Financial Sector & Development
Interview | Crypto Will Die a Natural Death as Investors Turn to Other...
Crypto grew because we had near zero interest rates in developed countries for an extended period so people were searching for higher returns, says Rakesh Mohan.
Rakesh Mohan
April 19, 2023
Opinion & Commentary
Financial Sector & Development
Interview | More Financial Institutions May Fail Globally, But No Direct...
As interest rates keep increasing in the developed economies there could be some reversal of capital flows, and consequent impact on the exchange rate and the economy, Rakesh Mohan cautioned.
Rakesh Mohan
April 19, 2023
Opinion & Commentary
Financial Sector & Development
Interview | Inflation-Targeting Framework has Clouded Thinking in Central...
Though there are multiple instruments to tackle inflation, every time there is a spike, the market expects monetary policy action, says Rakesh Mohan.
Rakesh Mohan
April 19, 2023
Opinion & Commentary
Financial Sector & Development
It’s Financial Sector Greed Again
US and European regulators ignored basic risk management. But why do regulators allow financial sector firms to gamble with depositors' money?
Jaimini Bhagwati
March 31, 2023
Opinion & Commentary
Financial Sector & Development
Interview | Will RBI Raise Rates Amid Global Banking Crisis? | Rakesh...
CNBC TV18 News interview of Rakesh Mohan on whether the Reserve Bank of India (RBI) will raise the repo rates amid the global banking crisis.
Rakesh Mohan
March 27, 2023
Opinion & Commentary
Financial Sector & Development
Pressure on the Rupee Recedes
There’s no certainty if RBI will be able to replenish its forex reserve stocks. The process could be quite long drawn, says Renu Kohli.
Renu Kohli
February 7, 2023
Opinion & Commentary
Financial Sector & Development
Interview | Questions on the Economy with Montek Singh Ahluwalia
Montek Singh Ahluwalia answers some pertinent questions on the Indian economy and upcoming issues.
Montek Singh Ahluwalia
February 2, 2023
Opinion & Commentary
Financial Sector & Development
Interview | At about 5-6%, Economy Won’t Collapse but it Won’t...
Montek Singh Ahluwalia tells Outlook Business that a private sector-led economy can deliver sustained GDP growth. He also suggested a closer examination of the much touted double digit growth and cautions against protectionism.
Montek Singh Ahluwalia
February 2, 2023
Opinion & Commentary
Financial Sector & Development
Interview | Exclusive interview with Montek Singh Ahluwalia: What to...
In an exclusive interview with Moneycontrol, Montek Singh Ahluwalia speaks on the state of the economy, and what is needed to unleash India's growth potential. and delves into the reforms needed in the external sector.
Montek Singh Ahluwalia
February 2, 2023
Opinion & Commentary
Financial Sector & Development
Non-Performing Assets: Dented by Iron and Steel
The large decline in metal prices during 2014-16, predominantly driven by Chinese imports, made domestic firms in the metals sector uncompetitive. A decline in profitability affected the loan repayment capacity of many firms in the metals sector and they defaulted, creating non-performing assets (NPAs) for banks.
Abhishek Kumar
,
Rakesh Mohan
&
Divya Srinivasan
January 27, 2023
Opinion & Commentary
Financial Sector & Development
Indian Rupee Goes Digital
Digital currency and fail-safe wireless connectivity should have preceded demonetisation, says Jaimini Bhagwati.
Jaimini Bhagwati
December 29, 2022
Opinion & Commentary
Financial Sector & Development
A Buffer Against Banking Stress
It is advisable for banks to build a counter-cyclical commodity price buffer during upswings in commodity prices which can be used during periods of downswings.
Abhishek Kumar
&
Divya Srinivasan
December 19, 2022
Opinion & Commentary
Financial Sector & Development
The Answer for India’s Economic Recovery: Labour-intensive Manufacturing
India's economic recovery calls for a focus on labour-intensive formal manufacturing. High under-employment and poor-quality employment have hampered a much needed move away from agriculture.
Rakesh Mohan
December 8, 2022
Opinion & Commentary
Financial Sector & Development
Watch: Rakesh Mohan on the State of the Indian Economy
In an interview to Karan Thapar for The Wire, Rakesh Mohan discussed the state of the economy six weeks before the end of the year, focusing specifically on growth, investment, unemployment, poverty, inflation and the state of the rupee.
Rakesh Mohan
November 23, 2022
Opinion & Commentary
Financial Sector & Development
Hindustan Times Leadership Summit 2022: Meeting Challenges of Resetting...
Hindustan Times Leadership Summit 2022: Many envisage a return to fiscal rules to strengthen credibility. But today’s situation offers an opportunity to rethink fiscal rules and the underlying fiscal frameworks.
Anoop Singh
November 7, 2022
Opinion & Commentary
Financial Sector & Development
The Overvalued Rupee: Managing Exchange Rate Volatility and Forex Reserves
Since the 1950s, a cocktail of partisan domestic interests has resulted in the Reserve Bank of India and the Indian government favouring an overvalued rupee, writes Jaimini Bhagwati.
Jaimini Bhagwati
October 27, 2022
Opinion & Commentary
Financial Sector & Development
What is leading economist Rakesh Mohan’s view on inflation?
How will global slowdown affect India? When will RBI's steps to rein-in inflation start show results? Rakesh Mohan answer these in a conversation with Business Standard.
Rakesh Mohan
October 25, 2022
Opinion & Commentary
Financial Sector & Development
Why NPAs Are Not Just About Bank Governance
Probing the links between twin balance sheet crisis and external commodity shocks could lead to a better understanding of the problem.
Abhishek Kumar
,
Rakesh Mohan
&
Divya Srinivasan
October 12, 2022
Opinion & Commentary
Financial Sector & Development
Six Monthly Indicators of Recession
The US economy isn’t in recession but may slip into one, writes Anoop Singh.
Anoop Singh
August 10, 2022
Opinion & Commentary
Financial Sector & Development
The Pandemic-flagged Need for a New Fiscal Framework
India should consider moving toward a new principles-based fiscal strategy, rather than returning to a fiscal framework based on rigid numerical fiscal targets, writes Anoop Singh.
Anoop Singh
July 12, 2022
Opinion & Commentary
Financial Sector & Development
“Despite Warnings, Central Banks in Developed Countries do not Take...
Rakesh Mohan answers Bloomberg HT's questions about the causes of global inflation and the effectiveness of central banks' policies against hyperinflation.
Rakesh Mohan
June 15, 2022
Opinion & Commentary
Financial Sector & Development
Delaying Action does not Protect Growth: Montek Singh Ahluwalia on RBI...
The central bank affects the real economy not just through short-term interest rates but through a host of other instruments, including the quantity of money, the level of credit and liquidity and, more broadly, financial stability, says Montek Singh Ahluwalia.
Montek Singh Ahluwalia
May 8, 2022
Opinion & Commentary
Financial Sector & Development
The Economy and India’s Future | Interview
In an interview with Mirror Now, Montek Singh Ahluwalia discusses the country's economic health and predictions for the post-Covid world.
Montek Singh Ahluwalia
March 2, 2022
Opinion & Commentary
Financial Sector & Development
Timing and Design Key to Making Digital Rupee a Success
Central Bank Digital Currency (CBDC) runs the risk of financial disintermediation, which can alter saving-investment strategy and impact banking system in India, says Aasheerwad Dwivedi.
Aasheerwad Dwivedi
February 28, 2022
Opinion & Commentary
Financial Sector & Development
What the Union Budget Got Right, and What it Missed
The budget’s capital-expenditure plan could support our recovery but reforms in important areas can’t be held off any longer.
Montek Singh Ahluwalia
February 14, 2022
Opinion & Commentary
Financial Sector & Development
Governance & Institutions
For India to be Financially Inclusive and Economically Better, Financial...
For a financially aware and empowered India, considerable effort and calculated steps need to be taken.
Laveesh Bhandari
February 11, 2022
Opinion & Commentary
Financial Sector & Development
How Will the Economy be Affected by Budget 2022? | Interview
In an interview with Times Now on the Budget 2022-23, Montek Singh Ahluwalia speaks on a host of issues including unemployment, job creation and the various measures taken to boost the economy.
Montek Singh Ahluwalia
February 9, 2022
Opinion & Commentary
Financial Sector & Development
What the Government Needs to do to Boost India’s Growth | Budget...
Ahead of the Union Budget 2022-23, Business Today interviews Montek Singh Ahluwalia to take a deep-dive into the contours of the economy and understand what the government needs to do to boost India's growth.
Montek Singh Ahluwalia
February 9, 2022
Opinion & Commentary
Financial Sector & Development
Bring Real Estate, Petroleum, Alcohol and Power into GST | Interview
Though the Indian economy is in recovery mode, the underlying growth impulses are weak, says economist Montek Singh Ahluwalia.
Montek Singh Ahluwalia
February 9, 2022
Opinion & Commentary
Sub-National Economy
‘Make in India’ a Work in progress
While the Indian government has rolled out policies to promote exports, trade policy is more inwardly oriented. The ‘Make in India’ initiative ignores the decades-long geographical fragmentation of the global production process, a reality that increases the import dependence of exports.
Aasheerwad Dwivedi
February 4, 2022
Opinion & Commentary
Financial Sector & Development
What is the Credibility of Government Accounting?
When the government presents the 2022-23 Budget, there will be relatively little attention spent on correlating the budget numbers with recent CAG reports or the deliberations of the PAC, says Jaimini Bhagwati.
Jaimini Bhagwati
January 27, 2022
Opinion & Commentary
Growth, Finance, Health & Human Development
Governance & Institutions
Interview | Did UPA Fall Back on Loosening Government’s Grip on...
In the Q&A with Business Standard, Montek Singh Ahluwalia dwells on the areas where he feels UPA did not meet up to the challenges and the progress made by the BJP on certain fronts.
Montek Singh Ahluwalia
November 12, 2021
Opinion & Commentary
Financial Sector & Development
For Meaningful Financial Inclusion, We Need Clear Metrics
The purpose of any data or index is to offer us pointers on moving ahead. For meaningful financial inclusion, we must have meaningful metrics in the public domain.
Laveesh Bhandari
November 12, 2021
Opinion & Commentary
Financial Sector & Development
Quota share of BRIC countries in IMF should increase: Rakesh Mohan to...
Rakesh Mohan suggests the need to review the role of IMF due to changing economic weight of emerging countries, stressing on completing quota reforms and maintaining data integrity amid the World Bank discontinuing its Ease of Doing Business reports.
Rakesh Mohan
October 20, 2021
Opinion & Commentary
Financial Sector & Development
RBI’s Growth Estimate ‘Exaggerated’ As It Fails To Reflect State of...
There are concerns on whether the 64.4 percent export growth will continue into the rest of the year as shortages of containers have led to a sharp rise in transport costs which could weaken performance.
Montek Singh Ahluwalia
October 19, 2021
Opinion & Commentary
Financial Sector & Development
Low Private Investment Is a Weak Spot In The Economy
After the recovery of the economy next year, will we only get back to the growth rate of 4 to 5 percent which prevailed immediately before the pandemic, or to the much higher growth of earlier years?
Montek Singh Ahluwalia
October 18, 2021
Opinion & Commentary
Financial Sector & Development
National Monetisation Pipeline Betrays Narrow Outlook
Private-public investment structures make sense, but they must be modeled to also generate social value. In today’s world, there are no shortcuts to sustainable development.
Vikram Singh Mehta
October 1, 2021
Opinion & Commentary
Financial Sector & Development
Monetisation of Government Assets
Leasing government-owned land would be easier and should be accorded higher priority.
Jaimini Bhagwati
September 30, 2021
Opinion & Commentary
Financial Sector & Development
Govt Should Let Fiscal Deficit Rise to 7.5% to Boost Consumption,...
The government must provide adequate income support, particularly for the poor, as a way of tackling the collapse in private consumption, says Montek Singh Ahluwalia.
Montek Singh Ahluwalia
September 14, 2021
Opinion & Commentary
Financial Sector & Development
Reforming PSBs Most Important Task Ahead for Government
In this interview with Business Standard, Montek Singh Ahluwalia answers crucial questions on the economy.
Montek Singh Ahluwalia
September 2, 2021
Opinion & Commentary
Financial Sector & Development
Former RBI Deputy Chief Warns of Rise in Bad Loans Due to the Pandemic
India’s expanded credit push to help small borrowers weather COVID-19’s impact risks fueling sour debt, says Rakesh Mohan.
Rakesh Mohan
September 2, 2021
Opinion & Commentary
Growth, Finance, Health & Human Development
India’s 20.1% GDP Growth Encouraging: Rakesh Mohan
Former deputy governor of the Reserve Bank of India, Rakesh Mohan discusses the outlook for the Indian economy and policies amid the Covid-19 pandemic.
Rakesh Mohan
September 2, 2021
Opinion & Commentary
Financial Sector & Development
We should be thankful for the economy’s liberation
We owe a great deal to 1991 for liberating the economy from the dead hand of bureaucratic control.
Montek Singh Ahluwalia
July 26, 2021
Opinion & Commentary
Financial Sector & Development
Interview: Reforms, Protectionism, Trade, and Growth
"If we raise duties to make Indian industry competitive, we’ll end up close to 1991."
Montek Singh Ahluwalia
July 22, 2021
Opinion & Commentary
Governance & Institutions
The response of Reserve Bank of India to Covid-19: Do whatever it takes
RBI has succeeded in achieving its broad objective of keeping financial system functioning smoothly.
Rakesh Mohan
July 15, 2021
Opinion & Commentary
Financial Sector & Development
The 1991 moment was 18 months in the making: Rakesh Mohan
In a conversation with Puja Mehra, Rakesh Mohan discussed the Indian economic control system in-depth, the command-and-control economy, and how much of this system was dismantled after 1991.
Rakesh Mohan
April 14, 2021
Opinion & Commentary
Financial Sector & Development
Interview | MSS bonds must be part of the standard monetary policy...
During the interview, Dr Mohan said he fails to understand why the current Monetary Policy Committee (MPC) was not given the powers to take a call on the reverse repo rate.
Rakesh Mohan
March 10, 2021
Opinion & Commentary
Financial Sector & Development
Interview | Expect K-shaped, not V-shaped, recovery: Part 1
In a 3-part interview, Rakesh Mohan analyses the Indian economy, banking reforms, the RBI's role, etc.
Rakesh Mohan
March 8, 2021
Opinion & Commentary
Financial Sector & Development
India needs to raise government revenue to ensure equalisation and growth
Anoop Singh
March 4, 2021
Opinion & Commentary
Financial Sector & Development
Interview | Rakesh Mohan on Budget 2021
Rakesh Mohan
February 27, 2021
Opinion & Commentary
Financial Sector & Development
Interview | It would be a mistake to allow private sector corporate groups...
Rakesh Mohan
February 18, 2021
Opinion & Commentary
Financial Sector & Development
Interview | Expect K-shaped, not V-shaped, recovery: Rakesh Mohan (Part I)
Rakesh Mohan
February 16, 2021
Opinion & Commentary
Financial Sector & Development
India must manage public finances better
The ministry of finance could launch the process of stakeholder consultations and prepare a time-bound plan for the implementation of comprehensive public financial management reforms at all levels of government.
Anoop Singh
&
Kandarp Patel
February 9, 2021
Opinion & Commentary
Financial Sector & Development
India’s fiscal architecture needs changes
The fiscal rules that have evolved over time in many advanced countries are now being tested during the COVID-19 crisis.
Anoop Singh
&
Kandarp Patel
February 8, 2021
Opinion & Commentary
Financial Sector & Development
Interview | Take steps that can stimulate the economy and address some of...
Rakesh Mohan
January 26, 2021
Opinion & Commentary
Financial Sector & Development
Recovery is K-Shaped, Not V-shaped. Worst is behind us but economy is not...
Montek Singh Ahluwalia
January 25, 2021
Opinion & Commentary
Health and Human Development
A moment 30 years ago that had been a year and a half in the making:...
Rakesh Mohan narrates how the logic-defying system of industrial controls was dismantled, and discusses policies required to deal with the emerging challenges of redeploying labour.
Rakesh Mohan
January 22, 2021
Opinion & Commentary
Financial Sector & Development
1991 reforms aimed at more than just BoP crisis: Montek Singh Ahluwalia
The balance of payments (BOP) crisis was the immediate trigger but the other challenge was problem of slow growth, says Montek Singh Ahluwalia
Montek Singh Ahluwalia
January 21, 2021
Opinion & Commentary
Financial Sector & Development
Which economies showed the most digital progress in 2020?
Now more than ever, digital capabilities are essential to ensure a country’s growth and economic resilience. But how do different economies compare as far as the current state and ongoing momentum of their digital development?
Bhaskar Chakravorti
December 18, 2020
Opinion & Commentary
Governance & Institutions
Ownership and governance of private sector banks – Part III
Going beyond its recommendations on ownership of private sector banks, there are some other internal working group (IWG) recommendations that bear scrutiny.
Rakesh Mohan
December 16, 2020
Opinion & Commentary
Governance & Institutions
Ownership and governance of private sector banks: Part II
Among the key problems that arise from the ownership of banks by nonfinancial companies are those of conflict of interest.
Rakesh Mohan
December 15, 2020
Opinion & Commentary
Governance & Institutions
Why private banks, their ownership structures need to be strictly...
Basic principles and international practice suggest that opening the door to the ownership of banks in India by large corporate/industrial houses should be done, if at all, with utmost caution.
Rakesh Mohan
December 14, 2020
Opinion & Commentary
Governance & Institutions
Interview | Should corporates be allowed to own banks?
Rakesh Mohan talks about the proposal to allow corporates to own banks and the state of the economy.
Rakesh Mohan
December 10, 2020
Opinion & Commentary
Financial Sector & Development
Book review: ‘Portraits of Power: Half a Century of Being at Ringside’
Rakesh Mohan
&
Jessica Seddon
December 1, 2020
Opinion & Commentary
Financial Sector & Development
Indian Economy is in Structural Slowdown Since 2012
Cutting of rates won't have as much of a response. One does not know what in some sense ought to be the resting point for the rates, says Rakesh Mohan.
Rakesh Mohan
December 11, 2019
Opinion & Commentary
Financial Sector & Development
What Modi needs to do to revive investor sentiment
Vikram Singh Mehta
August 5, 2019
Opinion & Commentary
Financial Sector & Development
Growth, Finance, Health & Human Development
Interactive
New bankruptcy laws a giant leap for financial markets
Senior Fellow and Brookings India Research Director Shamika Ravi speaks at a panel discussion on the new bankruptcy laws (IBC) reform that seeks to tackle the mountain of Rs 10 trillion of non-performing assets in the banking system.
Shamika Ravi
May 28, 2018
Opinion & Commentary
Macroeconomic Policy, Trade & Competitiveness
Demonetisation: A year after India killed cash, here’s what we can...
Almost a year ago, the Indian government rolled out an unprecedented policy move. Arguably, it was a time when the country was poised for economic success. With $9.49 trillion in purchasing power parity, it was the third-largest (in PPP terms) and the fastest-growing large economy in ...
Bhaskar Chakravorti
November 7, 2017
Opinion & Commentary
Financial Sector & Development
Rethinking the budget in a post-GST India
The goods and services tax (GST) is finally here, so perhaps now is the time to reflect on how the budget can be updated for a post-GST India. Just as the GST aims to create national uniformity in taxation, rethinking budgets can also push efficiency. A ...
Rahul Tongia
July 3, 2017
Opinion & Commentary
Financial Sector & Development
Demonetisation, digitisation: Will currency become extinct in some time?
Bhaskar Chakravorti
June 27, 2017
Opinion & Commentary
Financial Sector & Development
Why India is ready for a Universal Basic Income
Shamika Ravi
April 17, 2017
Opinion & Commentary
Financial Sector & Development
Growth, Finance, Health & Human Development
Opinion & Commentary
How Companies Can Champion Sustainable Development
Given political climates around the world and a new wariness around international cooperation, the private sector could find itself in the hot seat: trying to pick up the slack on big issues from climate change to sustainable development. This demand for taking on a larger role ...
Bhaskar Chakravorti
March 15, 2017
Opinion & Commentary
Financial Sector & Development
Growth, Finance, Health & Human Development
Opinion & Commentary
India is an average low-tariff economy, there are misconceptions otherwise
India is widely known as a country with high import tariffs. This view, however, is incorrect. Changing this view is important for several reasons, both within India and outside. But first, the facts. World Trade Organization estimates of India’s applied most favoured nation (MFN) tariffs, i.e. ...
Harsha Vardhana Singh
February 15, 2017
Opinion & Commentary
Financial Sector & Development
Growth, Finance, Health & Human Development
Opinion & Commentary
The less cash budget – building a digital payments ecosystem
Bhaskar Chakravorti
February 3, 2017
Opinion & Commentary
Financial Sector & Development
“Finance Minister is looking to present a budget against the...
Brookings India Chairman Vikram Singh Mehta speaks to journalist Karan Thapar on whether the Finance Minister should be cautious or bold in this year’s Fiscal Budget. How has demonetisation been viewed by foreign investors? Has it made India a more inviting destination or has it raised concerns ...
Vikram Singh Mehta
January 30, 2017
Opinion & Commentary
Financial Sector & Development
Demonetisation – thereafter proposing a new abnormal
Now let’s try demonetisation without denouement, perpetually preserve the uncertainty A little over two months has passed since the Narendra Modi government’s ambush on its own currency. In keeping with the unexpected nature of its launch, the manoeuvre has had some unexpected consequences. There are at ...
Bhaskar Chakravorti
January 23, 2017
Opinion & Commentary
Health and Human Development
Financial Sector & Development
Demonetisation push to labour reforms: molding the future of the markets
Demonetisation has the potential to facilitate an environment that will develop a formal culture in India’s labour markets Among the loudest critics of the demonetisation policy are those who predict doom for India’s informal sector as a result of this exogenous shock. Numerous anecdotes are being ...
Shamika Ravi
December 15, 2016
Opinion & Commentary
Financial Sector & Development
Growth, Finance, Health & Human Development
Opinion & Commentary
Demonetiser’s dilemma: to cash or not to cash
Bhaskar Chakravorti
December 5, 2016
Opinion & Commentary
Macroeconomic Policy, Trade & Competitiveness
Financial Sector & Development
Demonetisation: Effect on interest rates, inflation and policy action
Dr. Shamika Ravi (Senior Fellow, Brookings India) and Dr. Eswar Prasad (Senior Fellow, Brookings Institution) participated in a debate about the demonetisation issue in India. Dr. Ravi responded to comments on inflation and interest rates: There is a problem of an information void within which estimates ...
Eswar Prasad
&
Shamika Ravi
November 24, 2016
Opinion & Commentary
Macroeconomic Policy, Trade & Competitiveness
Financial Sector & Development
Shamika Ravi on implications on govt’s demonetisation move
Speaking about Prime Minister Narendra Modi’s announcement to demonitise Rs 1000 and Rs 500 notes, Senior Fellow Shamika Ravi in this Facebook Live says the next few months will be painful, and should be seen as teething troubles for an economy trying hard to reform its corrupt self. ...
Shamika Ravi
November 10, 2016
Opinion & Commentary
Macroeconomic Policy, Trade & Competitiveness
Financial Sector & Development
Demonetization is a net positive move
Scaling back large bills will not end crime, but it will force the underground economy to employ riskier methods In a special broadcast on 8 November, Prime Minister Narendra Modi announced a positive exogenous shock to the country. He declared that in less than four hours, ...
Shamika Ravi
November 10, 2016
Opinion & Commentary
Financial Sector & Development
Governance & Institutions
Union Budget: FM has chosen stability over growth
In the face of a sluggish global economy and volatile global markets Finance Minister Arun Jaitley had to convey a message of continued macro stability while also striving to accelerate growth. Budget 2016-17 is a complex and comprehensive document touching on many different areas which finance minister ...
Rakesh Mohan
March 1, 2016
Opinion & Commentary
Financial Sector & Development
Macroeconomic Policy, Trade & Competitiveness
Marginal revolutions from Budget 2016
There are numerous small announcements in finance minister Arun Jaitley’s budget that must be lauded comments Shamika Ravi Most television channels track the stock market as the finance minister’s budget speech unfolds in Parliament. This is done to capture the announcement effects from the speech. Yet, ...
Shamika Ravi
March 1, 2016
Opinion & Commentary
Financial Sector & Development
Looking forward to a big bang budget
The global economy is in trouble, but India is attracting positive comment. The finance minister must make the most of the moment. The finance minster was sensibly measured in his response to the chatter in Davos that India is in a sweet spot. He accepted credit ...
Vikram Singh Mehta
February 2, 2016
Opinion & Commentary
Financial Sector & Development
Leveraging the CSR mandate
Some institutional arrangements that can maximise the collective impact of individual contributions The Companies Act of 2013 mandates a contribution of two per cent of post-tax profits of companies to corporate social responsibility (CSR) activities. There was much debate about the merits of this mandate, with ...
Subir Gokarn
November 16, 2015
Opinion & Commentary
Financial Sector & Development
Tur travails – Three components of a structural solution to the pain...
There is no better way to understand the spike in the price of tur dal than through simple supply and demand factors. Let’s look at the supply side first. There are three ways to increase the availability of tur, or, for that matter, any commodity: increase ...
Subir Gokarn
October 19, 2015
Opinion & Commentary
Financial Sector & Development
Matters of valuation
The government’s multi-pronged approach, labelled Indradhanush, attempts to address a number of structural problems of public sector banks, including asset quality, writes Subir Gokarn. The condition of the Indian banking sector’s balance sheets, more specifically that of the public sector banks, is a serious threat to ...
Subir Gokarn
October 5, 2015
Opinion & Commentary
Governance & Institutions
Subir Gokarn on RBI Monetary Policy review
Brookings India Director of Research and former Deputy Governor of the RBI, Subir Gokarn, answers questions on the RBI Monetary Policy review in Business Standard. Read the full transcript of the webchat here. Is the Reserve Bank of India immune to political and India Inc’s pressure for rate cuts ...
Subir Gokarn
September 29, 2015
Opinion & Commentary
Financial Sector & Development
Growth, Finance, Health & Human Development
Opinion & Commentary
Shaping the Asian financial architecture
A new financial architecture that replicates the Bretton Woods framework is being built in Asia, with China playing a pivotal role. Subir Gokarn identifies opportunities and challenges for this new financial architecture.
Subir Gokarn
September 21, 2015
Opinion & Commentary
Financial Sector & Development
How Far Can IndraDhanush Go?
Finance Minister Arun Jaitley recently announced the Indradhanush framework – a reform structure for transforming the public sector banks. Subir Gokarn (Director of Research, Brookings India and former Deputy Governor, Reserve Bank of India) spoke to the Swarajya Research Team to find out what he thinks of this ...
Subir Gokarn
September 16, 2015
Opinion & Commentary
Financial Sector & Development
VIDEO: To avoid market freeze, central banks have to act
More disruptions in financial and other markets unless central banks take necessary actions to ensure markets do not freeze Watch the full interview on CNBC here What is your own assessment of how this core problem of slow growth can be resolved because you can inject liquidity ...
Subir Gokarn
August 25, 2015
Opinion & Commentary
Financial Sector & Development
Profiling and targeting
Big data provides both companies and governments the ability to differentiate sharply and productively between customers and beneficiaries of welfare programmes. Used effectively, organisations delivering products and services can leverage large databases about customers/beneficiaries to combine economies of scale with the benefits of precision targeting. Further, ...
Subir Gokarn
July 21, 2015
Opinion & Commentary
Financial Sector & Development
Can our banks finance the economic recovery?
This column first appeared in Business Standard, on November 16, 2014. Like other products of the Brookings Institution India Center, this is intended to contribute to discussion and stimulate debate on important issues. The views are those of the author. There is little question now that the Indian economyis ...
Subir Gokarn
November 18, 2014
Opinion & Commentary
Financial Sector & Development
A capital ladder for infrastructure
This column first appeared in the Business Standard, on October 5, 2014. Like other products of the Brookings Institution India Center, this is intended to contribute to discussion and stimulate debate on important issues. The views are those of the authors. A look at how businesses have traversed the path ...
Subir Gokarn
October 7, 2014
Opinion & Commentary
Financial Sector & Development
The inclusion triangle
This column first appeared in Business Standard, on September 7, 2014. Like other products of the Brookings Institution India Center, this is intended to contribute to discussion and stimulate debate on important issues. The views are solely those of the author. A triangle is symbolically important because it is ...
Subir Gokarn
September 15, 2014
Opinion & Commentary
Financial Sector & Development
The SLR Barrier
In last week’s bi-monthly review of monetary policy, the Reserve Bank of India (RBI) reduced the statutory liquidity ratio (SLR) from 22.5 per cent to 22 per cent of net demand and time liabilities. Many perceived this as a kind of back-door easing, because it allowed ...
Subir Gokarn
August 11, 2014
Opinion & Commentary
Financial Sector & Development
Demanding to be included
In the 1977 film, Annie Hall, Woody Allen opens with two jokes that, he says, best reflect his attitude towards relationships. The first, which he attributes to Sigmund Freudvia Groucho Marx, is that he would never want to belong to any club that would have him as a member. The second ...
Subir Gokarn
July 14, 2014
Opinion & Commentary
Financial Sector & Development
Nudges and Pushes
I think that cricket provides great metaphors for virtually everything in life. Thursday’s Budget certainly lends itself to cricketing references. Not for Finance Minister Arun Jaitley the six sixes in an over kind of thriller; more the nudging and pushing, singles and twos kind of innings ...
Subir Gokarn
July 11, 2014
Opinion & Commentary
Financial Sector & Development
Why the FM must digress
By now, the budget proposals will have been finalised. The finance minister may make some last-minute changes, but these will not be substantive. The FM knows that his speech on July 10 will be closely heard and rigorously interpreted. He knows that as the first major ...
Vikram Singh Mehta
July 7, 2014
Opinion & Commentary
Financial Sector & Development
Finance and Sustainability: Regulatory and Strategic Dimensions
The 30th Annual Sir Purshotamdas Thakurdas Memorial Lecture CONTENTS: Introduction Sustainability Framework Sustainability and Financial Performance Regulatory and Strategic Dimensions Concluding Thoughts Good Evening. It is my great privilege to be delivering the 30th Sir Purshotamdas Thakurdas Memorial Lecture. I follow a long list of ...
Subir Gokarn
December 16, 2013
Opinion & Commentary
Financial Sector & Development
An evolving multilateralism
The global economy can be viewed as a rather complex balancing act between forces of integration and those of autarchy. In many domains – trade, development and macroeconomic stability are the obvious examples – the emergence of multilateral institutions as critical players in the process of ...
Subir Gokarn
November 3, 2013
Opinion & Commentary
Financial Sector & Development
Fighting without fighting
A film that I still remember from my teenage years is the Bruce Lee classic, Enter the Dragon. In the film, when the group of contestants is travelling to the island for the tournament, Lee is asked by a rather aggressive competitor, Parsons, about his martial ...
Subir Gokarn
August 11, 2013
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