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Contributor : Profile

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Gurbachan Singh

Independent Economist
gurbachan.arti@gmail.com

Gurbachan Singh is an independent economist. He was visiting professor at Ashoka University. For many years, he taught at Indian Statistical Institute (ISI), Delhi Centre, and Jawaharlal Nehru University (JNU). His research is at the interface between finance and macroeconomics. His work is on theory to explain the real world and on policy. He is a keen teacher; his main teaching is on ‘Finance and Volatility’. He is a guest faculty at Management Development Institute (MDI), Gurugram. He received his Ph.D. from ISI Delhi Centre, M.A. from Delhi School of Economics (DSE), and B.A.(Hons.) from Hindu College, University of Delhi. He writes a regular ‘column’ for Business Standard. His other interests include good cinema.

Posts by Gurbachan Singh

Towards financial prescription

The Securities and Exchange Board of India has proposed that the distributors of mutual funds should only be allowed to sell financial products and not act as financial advisers for customers. Drawing...

  • Perspectives

Reconsidering the 4% inflation target

The RBI targets an inflation rate of 4%. In this article, Gurbachan Singh takes an in-depth look at the prevailing macroeconomic policy regime. This exercise provides an insight, which forms the basis...

  • Perspectives

Demonetisation: Some very counterintuitive effects in practice

Due to demonetisation, holders of black money lose if they cannot exchange their notes or sell these in the black market. It is widely reasoned that this implies an equal financial gain for the public...

  • Perspectives

A closer look at demonetisation

In this article, Gurbachan Singh contends that black money and white money are simplistic concepts; there is a grey area as well. In his view, the economic effects of demonetisation in terms of real e...

  • Perspectives

The tussle between RBI and Ministry of Finance: A different dimension

The popular belief about the tussle between RBI and the Ministry of Finance is that it is an issue of the trade-off between inflation and economic growth, with the former more focussed on controlling ...

  • Perspectives

Public sector banks: The more things change, the more they stay the same

Banks Board Bureau has been set up to help the government appoint heads of public sector banks (PSBs) and to advise on important issues in banking. In this article, Gurbachan Singh asks basic question...

  • Perspectives

Recapitalising public sector banks by disinvesting in RBI: Right and wrong

The Economic Survey 2015-16 put forth the argument that the Government of India could reduce its capital in the RBI from its current large level and use it to increase its capital in public sector ban...

  • Perspectives

Land in India: Market price vs. fundamental value

The Real Estate (Regulation and Development) Bill, 2015, is focused on protecting the few home buyers who can afford to buy homes but does not address the issue of high land prices, which is a very se...

  • Articles

Fiscal deficit and growth slowdown

Ahead of the Union Budget, several policymakers and economists in India have advocated increasing public spending to spur economic growth. In this article, Gurbachan Singh argues that even if India is...

  • Perspectives

Reining in gold imports

In an attempt to reduce gold imports, the Indian government has proposed three new schemes – gold monetisation, sovereign gold bonds, and domestic production of branded gold coins. In this article,...

  • Perspectives

Inflation targeting in India: Right and wrong

An RBI-appointed Expert Committee has recommended targeting a 4% inflation rate, but allowing it to vary between 2% and 6%. This column takes a different position on the target and leeway. It argues ...

  • Articles

What is mitigating a financial crisis in India?

The recent turmoil in the currency market and the general slowdown in growth in India are disturbing. However, India has by and large performed better in terms of macro-financial stability as compared...

  • Articles