Economic Growth
 
Turn Right or Left? Or is there a middle way?
Dilip Mookherjee
Posted on: 25 Jul 2013
Topics:   Economic Growth

Dilip Mookherjee shares his perspective on the recent Bhagwati versus Sen debate. While Sen represents the pro-state-led assistance stand and Bhagwati is seen as pro-market, what India requires is the right combination of prescriptions from both camps to effectively combat poverty.
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What explains the steep poverty decline in India from 2004 to 2011?
Ashok Kotwal , Pronab Sen
Posted on: 29 Jul 2013

Ashok Kotwal, Editor-in-Chief, Ideas for India, interviews Pronab Sen on the recent poverty figures that show a steep decline in poverty in India between 2004 and 2011. According to him, the shift in terms of trade in favour of agriculture and higher rural wages accelerated the trickle down of the fast economic growth to the poor.
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Star Wars
Debraj Ray
Posted on: 05 Aug 2013

Debraj Ray gets to the heart of the growth versus redistribution debate and argues that a sectoral imbalance in growth is inevitable. While occupational choice is an important way to deal with this, it is slow and imprecise. Action on the part of the government may be critical to even things out.
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Economists on the wrong foot
Ashish Kothari , Aseem Shrivastava
Posted on: 11 Sep 2013

This article asserts that the Sen-Bhagwati debate misses out two crucial elements – communities as agents of development, and ecological sustainability. It emphasises the importance of community empowerment, and backing community initiatives through state policies.
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Can India grow faster again?
Nirvikar Singh
Posted on: 06 Dec 2013
Topics:   Economic Growth
Tags:   recession

India’s growth prospects seem gloomy. This article argues that India can grow fast again even in the current global economic climate as it is different from other emerging economies in a number of important aspects. It recommends creating new businesses and jobs, developing internal supply chain networks, and domestic production of affordable consumer goods for reviving the growth rate.
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The crisis in Indian manufacturing
Jayan Jose Thomas
Posted on: 13 Dec 2013
Topics:   Economic Growth , Jobs

Manufacturing sector growth in India has fallen from over 9% to a dismal 1% in the past couple of years. This article discusses the factors that have caused a slowdown in organised and unorganised manufacturing. It contends that inadequate credit and infrastructure are key constraints, and the fate of the sector hinges on greater domestic investment and well-directed industrial policies.
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How can Indians be happier?
Nirvikar Singh
Posted on: 30 Oct 2013
Topics:   Economic Growth
Tags:   GDP

The recently released World Happiness Report 2013 seeks to go beyond Gross Domestic Product and the Human Development Index to understand what really matters to people for their well-being. It is found that perceived social support and the effectiveness and honesty of the government are strongly associated with citizens’ life evaluations in India.
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India's unique crisis – a short term fix
Devesh Kapur , Arvind Subramanian
Posted on: 20 Dec 2013

While the current turbulence in the Indian economy bears a resemblance to the situation of other emerging economies, it is unique when compared with historical experiences of economic crises. In their previous article, Kapur and Subramanian discussed the misdiagnosis of India’s crisis, and consequent errors in policy remedies. In this part, they outline short-term actions for reversing the growth slowdown, reducing current account deficit and preventing inflation.
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Assessing the economic effects of India ‘Looking East’
Ganeshan Wignaraja
Posted on: 22 May 2015

PM Modi recently said that India needs to move from ‘Look East’ to ‘Act East’ and that this is a key component of his government’s foreign policy. In this article, Ganeshan Wignaraja, an economist at the Asian Development Bank, assesses the impact of India’s ‘Look East Policy’ of 1991 on India-East Asia economic integration. He contends that closer ties with East Asia can lead to significant economic gains for India provided government and businesses work together to promote reforms and regional integration.
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Clearing the fog on the new GDP numbers
Saugata Bhattacharya
Posted on: 24 Jun 2015
Topics:   Economic Growth
Tags:   GDP , data

The Central Statistics Office recently changed the way GDP is calculated in India, revising the growth estimate for 2013-14 from 4.7% to 6.9%. Many are confused and skeptical about the new numbers, partly owing to a perceived mismatch between the higher growth and underperformance of other economic indicators. In this article, Saugata Bhattacharya, Senior Vice President and Chief Economist at Axis Bank, contends that a credible economic rationale underlines the new methodology. He demonstrates that corporate data are consistent with the national accounts estimates, and this has a bearing on future growth expectations.
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