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C.P. Chandrasekhar
Wednesday 04 July, 2018
The financial crisis and a subsequent period of recession affecting the majority population in economies points to the fact that neoliberal economic policy might have lost its legitimacy. On the contrast, a change in mood with Brexit and Trump's victory might not be subsequent setbacks with a new aggression on part of the neoliberal elite. Today, across the world, big business is attempting to influence economic decision-making in ways that can save the neoliberal project from collapse.
C.P. Chandrasekhar
Tuesday 29 May, 2018
Walmart’s purchase of a dominant 77 per cent stake in Flipkart is reportedly the biggest acquisition in the global e-commerce area and is seen as indicative of India’s importance in the world economy.The acquisition at an unwarranted premium and valuation has been seen as a move to increase its market share that the company has lost to Amazon by utilizing the dominance of Flipkart.
C.P. Chandrasekhar,Jayati Ghosh
Tuesday 15 May, 2018
Neo-liberal banking reform was launched in the early 1990s to address the low profitability of the public banking system and the large presence of non-performing assets. It set itself the objectives of cleaning out NPAs, recapitalising the banks and modifying banking practices to restore profitability and drastically reduce NPA volumes. This did initially have some effect. However, while the NPA ratio fell between the early 1990s and the mid-2000s, it has risen sharply since then. Moreover, while earlier priority and non-priority loans contributed equally to total NPAs, more recently, large non-priority loans to the corporate sector account for the bulk of NPAs. An analysis of these features reveals that these trends are indicative of the failure of neo-liberal banking reform in India.
C.P. Chandrasekhar
Monday 14 May, 2018
The implementation of the Insolvency and Bankruptcy Code, 2016 has led to aggressive competition to acquire firms that have been subjected to the resolution process. This suggests that the default that required the creditors to bring these firms to the National Company Law Tribunal was not due to poor fundamentals.
C.P. Chandrasekhar,Jayati Ghosh
Tuesday 08 May, 2018
While household balance sheets are not rid of the debt accumulated in the years preceding the 2008 crisis, there are signs that purchases financed with new debt are leading to a fresh bubble in property markets.
C.P. Chandrasekhar
Tuesday 20 February, 2018
Support for Budget 2018-19 is missing across the income and wealth spectrum. While the Finance Ministers’ big talk backed with small money no longer fools the vulnerable, the governments’ image of being “reformist” has also taken a hit among speculative foreign and domestic investors, as a reaction to the new tax reforms.
C.P. Chandrasekhar,Jayati Ghosh
Tuesday 30 January, 2018
Indian banking today is at a tipping point. Banks are burdened with non-performing assets, incurring significant losses due to provisioning and unable to sustain credit growth, and therefore changes are both necessary and inevitable.
C.P. Chandrasekhar,Jayati Ghosh
Thursday 14 September, 2017
A brief decline in portfolio inflows into equity markets has raised the question whether foreign investment flows into India have peaked. The evidence of investments in debt markets suggest otherwise. That, however, need not be all good news.
C.P. Chandrasekhar
Friday 07 July, 2017
The very limited Barclays prosecution comes in the wake of a half-hearted investigation effort, which has thus far completely let off all those who took the world economy to the verge of a crisis akin to the Great Depression. It is not clear if anything will finally come out of even this case, which is aimed at merely teaching a lesson to those who hurt a bunch of financial investors by violating insider rules.
C.P. Chandrasekhar
Thursday 29 June, 2017
The policy shifts of the reform era have not been in favor of agriculture. Trade liberalisation, deregulation and a greater role for market forces have not benefited the farmer, who is trapped in a persisting crisis. It is time for today’s policy makers to recognise their own disconnect, and learn from the evidence at hand.
 

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