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Manas Chakravarty

Group Consulting Editor

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Demand for work under MGNREGA shoots up in May 2023

BUSINESS

Demand for work under MGNREGA shoots up in May 2023

Demand for work under the rural employment guarantee scheme in April and May this year have been higher than the same period last year 

Sizzling PMI for May shows manufacturing momentum increasing

BUSINESS

Sizzling PMI for May shows manufacturing momentum increasing

India’s manufacturing PMI is far higher than that of most other economies in Asia. That explains the return of the FIIs and should provide support to the Indian stock market

What powered GDP growth in the March 2023 quarter?

BUSINESS

What powered GDP growth in the March 2023 quarter?

The momentum in capex could be the beginning of the long-awaited corporate capex cycle while growth in the construction sector will support jobs and consumption

Urban unemployment down, but a lot of unpaid helpers

BUSINESS

Urban unemployment down, but a lot of unpaid helpers

PLFS survey shows that while urban unemployment is lower compared to pre-pandemic times, the quality of jobs is worse 

Moneycontrol Pro Weekender: Surf’s Up 

BUSINESS

Moneycontrol Pro Weekender: Surf’s Up 

Not only has slower global growth helped India through lower commodity prices, higher inflation in advanced economies has also boosted outsourcing 

Flash PMIs show two-speed global economy -- and a dilemma for central banks

BUSINESS

Flash PMIs show two-speed global economy -- and a dilemma for central banks

For the US, UK and the Eurozone, the Flash Manufacturing PMIs for May are all below 50, which means they have shrunk compared to the previous month. In contrast, the Flash PMI for the services sector shows robust expansion 

Could rising currency in circulation be a reason for the withdrawal of Rs 2000 notes?

BUSINESS

Could rising currency in circulation be a reason for the withdrawal of Rs 2000 notes?

Banknotes in circulation are now 15.1 percent of money supply, compared to 13.7 percent in the September 2016 quarter

Is there a hint of policy change in the RBI Bulletin’s State of the Economy report? 

BUSINESS

Is there a hint of policy change in the RBI Bulletin’s State of the Economy report? 

Retail inflation in the first quarter of FY24 is likely to be lower than forecast and bond markets are pricing in a shift of stance by the Monetary Policy Committee 

​Moneycontrol Pro Weekender: From the micro to the macro

BUSINESS

​Moneycontrol Pro Weekender: From the micro to the macro

Disinflation has created a benign macro environment, but much of it is already priced into corporate earnings estimates

Falling commodity prices buoy trade balance

BUSINESS

Falling commodity prices buoy trade balance

The biggest fall in imports has been in vegetable oils, fertilisers, coal, all of which are now at much lower prices from a year ago  

Voting patterns are very different in state and national elections 

POLITICS

Voting patterns are very different in state and national elections 

Still, the debacle in Karnataka may force state governments as well as the centre to boost spending on social support schemes in the run-up to the 2024 Lok Sabha elections 

Moneycontrol Pro Weekender: Immaculate disinflation?

BUSINESS

Moneycontrol Pro Weekender: Immaculate disinflation?

The market's hope of a painless disinflation has no precedent

Manipur: the horrors of identity politics

TRENDS

Manipur: the horrors of identity politics

This is not the first time that ethnic violence has flared up in Manipur. The roots of the conflict run deep and are exacerbated by a lack of jobs

Bangladesh vs India per capita GDP: Setting the record straight

BUSINESS

Bangladesh vs India per capita GDP: Setting the record straight

The lesson to be learnt is not from Bangladesh, but from Pakistan. Both India and Bangladesh had a much lower per capita GDP compared to Pakistan in 1990. Now, Pakistan’s per capita GDP is much lower than both India’s and Bangladesh’s

The slow run on US banks: Deposits in decline even before SVB fiasco

BUSINESS

The slow run on US banks: Deposits in decline even before SVB fiasco

Even before the collapse of Silicon Valley Bank, total deposits in US commercial banks had been falling

Karnataka election 2023: The dangerous consequences of gorging on ‘revdis’

BUSINESS

Karnataka election 2023: The dangerous consequences of gorging on ‘revdis’

The Opposition’s addiction to revdis is bad for the nation’s economic and political health

Moneycontrol Pro Weekender: US Imperial Preference or Chinese Co-Prosperity Sphere? 

BUSINESS

Moneycontrol Pro Weekender: US Imperial Preference or Chinese Co-Prosperity Sphere? 

The US is ditching the free trade, free market policy it has been preaching for decades, in favour of industrial policy and trade blocs

Giving up China-nirbharta is easier said than done

BUSINESS

Giving up China-nirbharta is easier said than done

India’s trade deficit with China increased by 13.2 percent in 2022-23, despite the government’s attempts to correct the huge trade imbalance 

Is demography really destiny?

BUSINESS

Is demography really destiny?

A low dependency ratio provides a tailwind for growth, but much depends on ensuring productive jobs for the working population 

Moneycontrol Pro Weekender: All is well

BUSINESS

Moneycontrol Pro Weekender: All is well

The low Vix indicates the markets are looking forward to inflation peaking and rate cuts following. But the outcome may well be stagflation

Migrating abroad for work is a no-brainer 

BUSINESS

Migrating abroad for work is a no-brainer 

It would take decades for non-migrants to match the income gains of migrants to a high income country, says a World Bank report 

Dangerous games nations play: The economic fallout of higher military spending

BUSINESS

Dangerous games nations play: The economic fallout of higher military spending

The Stockholm International Peace Research Institute shows that military spending jumped in 2022 due to the Ukraine war. But there are also longer-term trends 

What slowdown? Developed economies blaze a growth trail, beat rate hikes

BUSINESS

What slowdown? Developed economies blaze a growth trail, beat rate hikes

The Flash Composite PMIs show that the US, the UK and the Eurozone saw growth accelerate this month. That should lead to more monetary tightening 

RBI paper: Signs of disinflation, but demand-pull inflation gaining traction

BUSINESS

RBI paper: Signs of disinflation, but demand-pull inflation gaining traction

With growth continuing to be robust, it’s no wonder that demand pull inflation is rising. That is why the RBI paper says the RBI must be ‘in readiness to address the rising sensitivity of inflation to demand pull’