Sunday, 5 December, 2021
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ILANOMICS

Modi govt’s pandemic strategy focused on revival has worked. Economic indicators prove it

Modi government’s policy response to Covid — focusing on directed credit to the distressed — was prudent, even if unpopular.
Cryptocurrency in India | Illustration by Prajna Ghosh | ThePrint

Don’t fear crypto or digital currencies, let India’s young ride the online services boom

The post-Covid world is witnessing an explosion of the global digital services sector. This time it’s not just about software engineers. An increasing number of businesses, households and institutions around the world are now engaged in the digital gig economy in some form or the other. From yoga classes to accounting, the demand for services which can be met from anywhere in the world, has boomed after the pandemic. How can policymakers ensure that the Indian labour force and the economy benefit from the growth of the digitally connected global services market? In this new world, India has huge potential benefits. It has the world's largest and youngest workforce. The young are particularly good at picking up new technologies and ways of working. They take to the world of mobile apps and digital transactions quickly and are nimble at learning new skills. The English language is an added advantage. Compared to any other country, India has the most to offer at competitive...

Protecting livelihoods is the next frontier for India in the fight against climate change

For a developing nation, putting some sectors on a path of lower carbon emissions without compromise on growth and development, is a challenge. 
Illustration by Ramandeep Kaur | ThePrint

Opening govt bond market to retail investors is a good start. Challenge is making it a success

Direct retail participation needs to be followed by full bond market integration and separation of debt management functions from RBI.

How India’s informal economy is shrinking, and why that’s good news in the long term

Greater formalisation will see a shift from low-paying, labour-intensive jobs in informal sector to more productive, formal-sector jobs. This could lead to disruption in short term.

Why India must change rules after COP26, let rich nations pay it to hit climate change targets

India is not committing to net zero emissions at COP26, but one day it will need to. This is the time to initiate legal and regulatory changes and allow finance to flow in.
Illustration by Ramandeep Kaur | ThePrint

Economic recovery has finally begun, but India needs to watch out for global headwinds

September saw 85 lakh jobs added, the highest since the Covid shock in March 2020. Inflation has fallen, exports are rising, and 1 billion vaccinations is an important milestone.
Illustration: Prajna Ghosh

Coal supply will improve but it’s time India transitions to options like natural gas for power

As the monsoon recedes, the supply of coal is likely to improve. Better planning and improvement in supply will help improve logistics in future.
Illustration by Manisha Yadav

How India is successfully using insolvency code to resolve NBFCs in trouble

RBI superseded boards of Srei Infra Finance and Srei Equipment Finance, and their insolvency process is expected to be IBC-like, as it was in DHFL’s case.

India needs high-frequency data for jobs policy, labour ministry’s new survey a good step

The Ministry of Labour has recently released a survey of firm employment data for nine non-farm sectors. The survey will be conducted quarterly and will provide much-needed high-frequency employment data for the economy. The data will be collected from firms, and over time, will become a critical input for macroeconomic policymaking in the country. In recent months, employment data collected by the Centre for Monitoring Indian Economy (CMIE) or from the Periodic Labour Force Survey (PLFS) have been making news, especially in the light of job losses during the Covid pandemic. Data such as this, or any other data collected from households, approaches the question of employment from a different angle. It is collected from the suppliers of labour. So, for example, when a household is asked whether a person belonging to the household has a job and the household responds ‘yes’ in one wave of the household survey (CMIE conducts three waves a year) followed by ‘no’ in the next wave, the...

As US Fed tapers bond purchases, India must avoid drastic policy responses to limit spillover

India was among the most affected countries when the Federal Reserve slowed down bond purchases in 2013, known as ‘taper tantrum’, which put pressure on the rupee.
Ila Patnaik is an economist and a professor at the National Institute of Public Finance and Policy.

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