Manas Chakravarty

ECONOMY

Macro Matters | IMF report warns of rising risks in economy, markets and firms

Policy makers must find a way to wean the markets off their addiction to the narcotic of easy money

ECONOMY

Macro Matters | IMF says lower oil prices will lead to windfall gains for India

On the flip side, oil and commodity exporters such as Saudi Arabia, Kazakhstan, Nigeria, Russia and Indonesia will see windfall losses

ECONOMY

Macro Matters | How do Indian government finances compare with others in the region?

Apart from the Communist countries, India’s government spending is higher than East Asian countries, as a percentage of GDP

CURRENT-AFFAIRS-TRENDS

The thoughts of Nobel Laureate Abhijit Banerjee, largely in his own words

This year’s winners of the Economics Nobel prize shun clichés about poverty to focus instead on practical solutions arrived at after field experiments among the poor

BUSINESS

Macro Matters | Six points and a story about the slowdown

The slowdown may force the government to raise resources by fulfilling its promise of ‘minimum government’

BUSINESS

US-China trade truce: what is the market counting on?

There is great disorder under heaven; the situation is excellent

INDIA

Macro Matters | IMF and Moody’s say India will likely miss its government debt reduction targets

Moody’s estimates corporate tax cuts will add 0.1 percentage point to India’s GDP growth.

INDIA

Macro Matters | How does India score on structural reforms?

Countries with a large informal sector benefit the most from reform

ECONOMY

Macro Matters | The RBI’s implied estimate of nominal GDP for the current fiscal year is the lowest in seventeen years

RBI survey on business sentiment in Indian manufacturing at lowest level since the global financial crisis

ECONOMY

Macro Matters | RBI survey finds consumer confidence about current economic situation at lowest level in six years

Optimism about higher discretionary spending in the next one year is the lowest in at least four years

ECONOMY

Macro Matters | Global markets plunge as manufacturing PMIs slump

India’s September manufacturing PMI, though weak, is much better than the global average

ECONOMY

Macro Matters | Tax revenues lower, but RBI bonanza keeps fiscal deficit in check in August

Reducing expenditure to offset the tax cuts and keep the deficit in check would be an own goal for the government

ECONOMY

Macro Matters | Which is a bigger boost to the economy -- tax cuts or government spending?

The UN Conference on Trade and Development says that for India, a $1 billion cut in direct taxes will lead to a $0.2 billion boost to GDP

ECONOMY

Macro Matters | Demonetisation did not hit jobs in the organised manufacturing sector

Did demonetisation abort an incipient recovery? True, the manufacturing sector had bounced back in the year before demonetisation, but it’s hard to say whether this was sustainable, even if demonetisation did not happen

ECONOMY

The corporate tax cuts are the Modi 2.0 government’s first structural reform

The tax cuts were essential -- if they provide a cyclical boost too, that is an added bonus.

ECONOMY

Macro Matters | Lessons the Trump tax cuts have for India

Balance sheet data for listed firms showed that the bulk of the cash was used for share buybacks, dividend payouts and for strengthening the balance sheet.

ECONOMY

Macro Matters | The OECD adds to the doom and gloom

The OECD Interim Economic Outlook has slashed growth estimates for India below 6 percent for the current fiscal year

MARKETS

Macro Matters | The US has replaced Emerging Markets as the most favoured region among equity investors

September survey of fund managers finds global recession concerns at highest levels since August 2009

ECONOMY

Macro Matters | Rise in July industrial production not a sign of a turnaround

Around 40 percent of the rise in IIP was contributed by an increase in mild steel slab production

ECONOMY

Macro Matters| Tight financial conditions are a big reason for the slowdown

The total flow of financial resources to the commercial sector was also affected by demonetisation

ECONOMY

What the August PMI fall tells us about the economy

PMI data for August, while indicating a slowdown, do not reflect the despondency in the markets

ECONOMY

Macro Matters | Cash is back

Currency with the public, as a percentage of nominal GDP, is back to where it was before demonetisation

ECONOMY

Macro Matters | How government spending has propped up economic growth since demonetisation

Growth in the private sector has been lower, sometimes much lower, than what the headline numbers indicate