Kaushik Basu

Former World Bank Chief Economist Kaushik Basu on Sunday described the reciprocal tariffs imposed on approximately 60 countries by the Trump administration as baffling, saying that while these tariffs will have some adverse effects on India, the major impact will be felt in the US. Basu further said that it is also not really a reciprocal tariff as the Trump administration calls it, it is based on the trade deficit the US has with India. "The new US tariff of 26 per cent on India is baffling. While it will have some adverse impact on India, its major negative impact will be on the US," he told PTI. Basu, currently a Carl Marks Professor at Cornell University, said it is natural for a country like the US, which has a currency that is trusted and used worldwide, to have trade deficits. "Hence, this new tariff policy looks almost like an effort to erode trust in the US dollar," he added. Basu also suggested that India should not respond by raising or lowering tariffs on US ...

In a letter to the UPSC, Union Minister Jitendra Singh said Prime Minister Narendra Modi firmly believes that the lateral entry process should uphold the principles of equity and social justice

The idea of importing foreign universities is the same as importing anything else. It is meant to improve supply

After Kaushik Basu, Gill will be the second Indian to serve as chief economist at the World Bank

Basu further said India's big challenge is unemployment and joblessness as youth unemployment in India is over 24 per cent, which is among the highest in the world

India's overall macroeconomic situation is in a recovery mode but the growth is concentrated at the top end, which is a worrying trend, according to former World Bank Chief Economist Kaushik Basu

The former chief economist of World Bank Kaushik Basu said on Saturday that pressure was therebut the multilateral institution never gave in.

India needs a much better curation of policy once again between the Reserve Bank of India and the finance ministry, says former CEA

Basu worries that a 'dispirited' India may be behind the country plummeting from one of the fastest growing economies towards the bottom of the heap in a short span of four years

The basic issues at present are the concerns about the food chain, jobs and migrant workers, which have to be resolved immediately, Basu said

With a record capital outflow of $16 bn in March, the biggest in a month, India must be careful about the future, he said

"There are some signals... the global markets are fearing that India is going to slide into a controlled economy which is very damaging," said former Chief Economic Advisor Kaushik Basu

Pronab Sen, former chief statistician, pointed out, "In the unaffected districts, we should open up the lockdown but not allow movement out of these areas.''

The import of academics without any government experience at top Indian institutions was based on the belief that a mere knowledge of academic economics would be enough to serve in government

'The charge for haircut must be inversely proportional to the amount of hair'

Economic Survey for 2016-17 made a strong pitch for implementing UBI

About 98% of India's total transaction takes place in cash & giving a shock to it has not been good economics, says former World Bank chief economist

He will return to Cornell University and focus on his research projects

Ex-chief economic advisor and now World Bank senior VP, explains why this is necessary in today's world and how India can lead the globe by doing so

Kaushik Basu's account of his stint as chief economic advisor provides great insights into how economic models correlate with real-world policymaking, but a reader will miss the insider's view of the politics that influenced policy