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NEW YORK, NY - JUNE 24: Traders work on the floor of the New York Stock Exchange (NYSE) following news that the United Kingdom has voted to leave the European Union on June 24, 2016 in New York City. The Dow Jones industrial average quickly fell nealy 500 points on the news with markets around the globe plunging. Spencer Platt/Getty Images/AFP
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Disruption on cards

Britain’s exit from the E.U. could disrupt world trade and jeopardise the process of pulling the global economy out of recession.

C.P. CHANDRASEKHAR

Gurgaon, India, July 20: Private fuel pumps in Haryana have stopped selling petrol and diesel to consumers as petroleum dealers on Monday went on an indefinite strike for various demands, including lower vat on diesel and petrol, in Gurgaon, India, on Monday, July 20, 2015. Photo by Manoj kumar

Between investors and voters

The stark divergence between rhetoric and intent in the Budget exposes the regime’s inability to push for growth and welfare, which stems from its obs

C.P. CHANDRASEKHAR

MEDAK, Telangana,05/01/2015:Employes Taking Pledge on the BHEL Formation Day in Medak. ----PHOTO:Mohd Arif - MEDAK, Telangana,05/01/2015:Employes Taking Pledge on the BHEL Formation Day in Medak. ----PHOTO:Mohd Arif

Undermining public sector

Economic liberalisation has steadily corroded the public sector, allowing private players to acquire valuable assets at low prices and demand extraord

C.P. CHANDRASEKHAR

A woman rides past the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, in this April 3, 2014 file photo. China's central bank said on August 13, 2015 that there was no basis for further depreciation in the yuan given strong economic fundamentals, in a bid to reassure jittery global markets after it devalued the currency earlier in the week. As the yuan fell for the third straight day, the People's Bank of China (PBOC) said the country's strong economic environment, sustained trade surplus, sound fiscal position and deep foreign exchange reserves provided 'strong support' to the exchange rate. REUTERS/Petar Kujundzic/FIles

No case for complacence

The Chinese decision to use depreciation of the yuan as an instrument to address its own crisis can trigger a chain of events that can convert the rec

C.P. CHANDRASEKHAR

NEW DELHI, 18/03/2015: (From left) President of the Bharatiya Kisan Union, Naresh Singh Tikait, AAP leader Yogendra Yadav and Rakesh Tikait, National spokesperson of Bhartiya Kisan Union raising their hands during a farmers unions' massive dharna against the NDA's anti-farmer policies at Jantar Mantar in New Delhi on March 18, 2015.
Photo: Shiv Kumar Pushpakar

Failing the farmer

Outcomes of the patterns of growth induced by neoliberal economic reforms have increased the disproportionality between agricultural and non-agricultu

C.P. CHANDRASEKHAR

U.S. President Barack Obama, right and Indian Prime Minister Narendra Modi interact during the India-U.S business summit in New Delhi, India, Monday, Jan. 26, 2015. Obama urged business leaders to find ways to seize the 'untapped potential' that could unleash greater trade between the U.S. and India. (AP Photo/Saurabh Das)

Bending it for investors?

The Obama visit has fuelled the government’s deep desire to woo foreign investors with major concessions, possibly in bilateral investment treaties. P

C.P. CHANDRASEKHAR

NEW DELHI, 13/11/2014: Congress President Sonia Gandhi flanked by former Prime Minister, Manmohan Singh and party Vice President Rahul Gandhi along with other leaders taking oath to work for the country at the 125th Birth Anniversary Function of Jawahar Lal Nehru at Talkatora Stadium in New Delhi on Thursday, November 13, 2014.Photo: Rajeev Bhatt

How the Congress rejected the Nehruvian economic trajectory

The Nehruvian economic trajectory was premised on the idea of winning economic independence from foreign capital.

C.P. CHANDRASEKHAR

ARUNACHAL PRADESH—21-08-2009 (COUNTRY’S LARGEST HYDRO ELECTRIC POWER PROJECT) Constructing work of the dam is going on in full swing at the NHPC’s 2,000 MW Subansiri Lower project in Arunachal Pradesh on Friday, August 21, 2009. The total cost for the project is estimated about 7000 corers, which will be the biggest Hydro Electric Power project in India and in entire South East Asia. The Subansiri Lower project in Arunachal Pradesh was originally scheduled to be completed by the National Hydroelectric Power Corporation (NHPC) in September 2010 but the company now expects to commission it only by December 2012. A portion of this big dam will be constructed in Arunachal Pradesh and another part will be constructed in Assam side. It is situated right in the Assam-Arunachal Pradesh border. PHOTO: RITU_RAJ_KONWAR

An obsession to sell

The government is in a hurry to sell public sector equity, instead of borrowing, to fund its expenditures, thus losing an income greater than the inte

C.P. CHANDRASEKHAR

India's Prime Minister Narendra Modi delivers a speech from the Red Fort to mark the country's 68th Independence Day in New Delhi on August 15, 2014. Modi condemned a spate of rapes as a source of shame for India and urged an end to communal violence on August 15 as he vowed to improve the lives of the nation's poor in his first Independence Day speech. AFP PHOTO / Prakash SINGH

Unplanning, Modi style

By choosing to dump the Planning Commission rather than strengthen and expand its role to suit the changed environment, Prime Minister Modi has signal

C.P. CHANDRASEKHAR

New Delhi: Union Finance Minister Arun Jaitley along with MoS Nirmala Sitharaman and officials leaves from his office to present the Union budget 2014-15 in Parliament in New Delhi on Thursday. PTI Photo by Atul Yadav (PTI7_10_2014_000056B)

More of the same

By trimming government expenditure, raising resources through means that would aggravate cost-push inflation and relying on private investment to revi

C.P. CHANDRASEKHAR

Mumbai 17/04/2009 BJP leader, L. K. Advani shows report on black money in Swiss bank at a press conference in Mumbai on April 17, 2009. Photo: Vivek Bendre

Who is afraid of illicit finance?

Illicit capital outflow has increased significantly after neoliberal policies were introduced in 1991. Committed as it is to the same economic model,

C. P. CHANDRASEKHAR

Political economy of elections

The Congress' campaign is characterised by a lack of clarity on what should be projected as its achievement--the relatively inclusive growth of UPA I

C.P. CHANDRASEKHAR

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