C.P. Chandrasekhar RSS icon
ECONOMIC PERSPECTIVES
C. P. Chandrasekhar is currently Professor at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi. He has published widely in academic journals and is the co-author of Crisis as Conquest: Learning from East Asia (Orient Longman), The Market that Failed: Neo-Liberal Economic Reforms in India (Leftword Books) and Promoting ICT for Human Development: India (Elsevier).
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Neoliberal anti-populism

The Indian government’s pursuit of fiscal consolidation in the Union Budget by providing large transfers to the rich, which it calls “tax expenditure”, while trimming subsidies, or expenditures that benefit the poor, is the best example of the ideology of anti-populism. »

The missing honeymoon

The new government’s decisiveness in ensuring quick clearances, and incentives for lending, for large infrastructure projects during the honeymoon period will be watched keenly for the benefits it brings to the corporate sector and big private capital even as the rest of India is likely to be left out and not pleased at all. »

Chinese dreams

Becoming another China is not easy as that will involve the reduction of expenditure on food subsidies and other welfare measures. »

Threat from big pharma

Pfizer’s bid for AstraZeneca is symptomatic of the attempt at global consolidation by Big Pharma as a means to stifle competition or acquire higher-value products. And among their targets are companies in India where 100 per cent FDI is a big attraction. »

Modi & constraints of democracy

If India is not to be handed over to big business and a rabidly communal fringe, it is best to keep Narendra Modi out of the Prime Minister’s Office. »

Financial strains in the “new” China

Two recent cases of debt default bring into focus the rising corporate debt in China, estimated at around $12 trillion in 2013, with most of the loans provided by trust companies that populate the shadow banking sector and account for 30 per cent of credit advanced in 2013. »

No method in this confusion

The RBI Governor lays emphasis on high interest rates as an antidote to inflation and, going against conventional wisdom, hopes that this will stall capital flight triggered by the U.S. Fed’s taper and continue to keep the domestic market attractive to foreign investors. »

Black and grey

Unless the RBI makes clear the real intention behind its move on dated currency, the scheme will only serve as a concealed amnesty for the declaration of unaccounted income and wealth by black money holders. »

The more things change…

If American power is measured in terms of the strength of American firms and American capital, hegemony is still with the U.S. The strident cries on the looming threat from China seem to be just propaganda to pre-empt any challenge to existing imperial power. »

Ruling dilemma

In the run-up to the 2014 elections, the Congress-led UPA is facing the twin troubles of stagnant growth and hyperinflation. Since the neoliberal logic allows it little room for fiscal policy manoeuvre, it has opted for expenditure cuts and is left with only monetary options, which will alienate either the poor or big business. »
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C.P. Chandrasekhar
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