Page 2 - Rathin Roy

No reform without change

There is little appetite for reforming multilateral development banks among rich countries, but three emerging economy presidencies of the G20 in succession offer hope

Masked power play: CoPs are places for grandstanding and inane statements

Carbonisation is driven by consumption. The more we consume, the more carbon is generated. But by design, CoPs are consumption blind

The crises we choose: Global recession, war or energy?

The pandemic has increased the global extreme poverty rate from an estimated 8.4 per cent in 2019 to 9.3 per cent in 2020. But the rich country ecosystem is noticeably silent on this

India 2022: Getting bigger but not richer

The link between the size of the economy and prosperity is tenuous

Returning to structuralist macroeconomics for unleashing India's growth

The absence of mass-market demand continues to be a limiting constraint

Fiscal consolidation today

Mercifully, India has been spared the problems that foreign currency sovereign debt would have posed

When it comes to making the Budget, India needs to learn from the UK

The setting up of an OBR-like fiscal council has been thwarted by bureaucrats scared of losing turf and being accountable to the evidence

Decline and fall

The governor of a central bank must be trusted to act in good faith by the government of the day

Covid, conflict and China

For the countries of Europe, the conflict poses existential questions

Whose net zero future?

India is in a fortunate position in that almost every action to improve productivity and equity will be carbon reducing

The medium-term macro-fiscal prognosis

For rich economies, the pandemic is an aberration

How green is my central bank

Green climate and other bonds, and fixed-income assets do offer an explicit and ex-ante guarantee of carbon neutrality

Change in the pandemic age

The era of globalisation was marked by an assumption of continual convergence

Building back differently

Putting India back on the growth track demands a robust analytical framework to address the structural downturn in the economy caused by Covid-19

Finance Commission's dose of reality

The Commission has also accomplished a remarkable job, given the clumsy and normatively biased Terms of Reference (ToR) that it had to work with

Budget 2021: It's business as usual

There are several welcome standalone reforms but these do not add up to a coherent strategy to achieve a $5 trillion economy

Political economy of fiscal responsibility

The economy requires a fiscal battle plan and this, in turn, requires a fiscal responsibility framework

Decolonising climate action

If inequality of consumption is recognised as the major obstacle to tackling the climate crisis, then the conversation would be different

GST, farm Bills and 4 other events that widened Centre-state trust deficit

The roots of the trust deficit lie in the unwillingness of the political authorities to invest in cooperative federalism since their priority is to secure and wield power at the central level

It is not too late, but it soon will be

The fragility of central government finances is partly legacy, part refusal to acknowledge and address the problem due to the lack of strategic vision and poor institutional capability