There has been a consistent drop in the female-male labour participation rate, highlighting the need for policy interventions.
The dual-track market approach, township-village enterprises and enhanced fiscal-federalism are important lessons the Modi government must imbibe if it wishes to enhance economic efficiency.
Concerning structural trends among the self-employed, gender disparity in employment and severe sampling flaws with the quarterly employment surveys should be tackled head-on and not ignored.
There are a few kinks to be worked out, but if implemented well, the manufacturing sector could be a GST winner while the telecom sector is likely to be worse off.
The new National Health Policy identifies what needs to be done, but fails to address who will do it and in what manner.
While an important measurement, GDP is far from adequate to judge a country’s economy and socio-economic conditions.
While most policy discourse tends to argue for an increase in healthcare spending to improve overall services, little attention is paid to the quality of healthcare facilities.
The finance minister’s announcements on moving towards a more progressive direct tax structure and tax incentives for MSMEs are heartening.
Expenditure announced does not seem to have any connection to what has worked (or not) in the past.
In the 2017 Budget, the government has the opportunity to correct its misguided approach to spending and focus more on the social progress side of development.
Despite the success of some Indian industries since the 1990s, we are now seeing a major productivity gap circumscribing the prospects of industrial growth.
Demonetisation was meant to widen India’s tax base and increase our abysmally low tax-GDP ratio. The government could further this aim in more concrete ways through the Budget.
India’s economy had some positives in 2016, but issues like joblessness, lower agricultural incomes and the demonetisation aftermath remain matters of concern.
Over the last three decades, under China’s infrastructure-led public investment boom, total aggregate debt has grown from $2.1 trillion to $28.2 trillion.
Stagnation of wages for low-skilled persons can be a possible economic variable shaping the pattern of voting behaviour that led to Donald Trump’s victory.
The government’s IPR policy seems to lack a holistic understanding of the complexities attached with “traditional” knowledge (to be free and open for public access) vs. some kind of privately locked knowledge capital.
Policy makers should conduct deeper analysis of how many subtle factors shape inflation and its effects on the Indian economy.
The application of economics should be seen as a craft, instead of a purely methodological process with static assumptions.