26 March, 2017
Is Aadhaar Grounded in Adequate Law and Regulations?
In this blog post on Ajay Shah's blog, Visiting Fellow, Renuka Sane asks "if the legal foundations on which the Aadhaar operates match up to the requirements of a program that is likely to touch the lives of all citizens of India....
A program such as Aadhaar, should be built on so...
22 February, 2017
Changing Trends in Financial Inclusion
Dr. Rajiv Lall, MD & CEO IDFC Bank, spoke on financial inclusion and the Indian economy at a Speaker Series session at the Meghnad Desai Academy of Economics. He shared insights into the emerging technology trends which IDFC Bank is fast executing to widen the reach of financial i...
17 February, 2017
Praveen Chakravarty Weighs in on Simultaneous Elections
Praveen Chakravarty, Senior Fellow at IDFC Institute, cautions against the growing calls for simultaneous Centre and State elections in India. He says:
The idea of simultaneous elections for India is based on false premises, [...] Is ₹8,000 crore every five years or ₹1,500 crore every ...
03 February, 2017
The Hindu Centre for Politics and Public Policy hosts Praveen Chakravarty for a talk on the Budget
Speaking at the event, Praveen Chakravarty, Senior Fellow at IDFC Institute, notes that one needs to free up bad assets that have been festering in the system for the past three years in order to revive the economy and spur growth. “There are ₹15 lakh crore worth of...
25 January, 2017
Criminality in Indian Politics
David Keohane, in this Financial Times article, reviews Milan Vaishnav's latest book titled, "When Crime Pays, Money and Muscle in Indian Politics" and explains the vertical integration in India's crime-political nexus. Excerpts below:
As Vaishnav describes it, there was a reliable politi...
24 January, 2017
Analysing RBI's Independence
Ajay Shah, in this Business Standard article, analyses the principal-agent relationship of the Ministry of Finance and its financial agent, the Reserve Bank of India (RBI). He proposes that the RBI's indepence as a financial agent would be best achieved by following a "middle ground" in terms o...
18 January, 2017
Seeing like a State: How Certain Schemes to Improve the Human Condition Have Failed | Book Review
Why do planned schemes of human betterment, designed with the best of intentions, often fail? James C. Scott, the Eugene Meyer Professor of Political Science and Anthropology at Yale University, sets out to answer this question in his 1998 book Seeing like a State: How Certain Schemes to Improve the...
16 January, 2017
Praveen Chakravarty Weighs in on the Issue of Declining Startups in India
Praveen Chakravarty, Senior Fellow at IDFC Institute, weighed in on the reasons behind the trend of declining startup growth in 2016 in an Indian Express article.
The decline was ironical...Just after the government launched a Startup India initiative on Januar...
29 December, 2016
Did "Black Money Induced Asset Price Rise" Really Cause GDP Growth when UPA was in Power?
Rajya Sabha member, Rajeev Gowda, has an interesting rebuttal to S. Gurumurthy's explanation on GDP growth during the 2004-09 period. He writes:
In essence, the story that black money induced rising asset prices which led to high GDP growth with no jobs is a phantom one, devoid of any basi...
28 December, 2016
Vivek Dehejia, Resident Fellow, Attends PM's Meeting with Experts
Vivek Dehejia, Resident Fellow at the IDFC institute was invited to a meeting of experts, held by the Prime Minister, to map out the future economic plan.
The meeting was also attended by the finance minister Arun Jaitley, all his department secretaries, other secretaries of depa...
23 December, 2016
Praveen Chakravarty and Vivek Dehejia Cited in Entry Tax Case Judgement
Praveen Chakravarty and Vivek Dehejia's article on economic divergence between the rich and poor states in India, gets cited in the Entry Tax Case judgement by Justice Bhanumathi
India is the only large country in the world today that is experiencing an economic divergence among its States and ...
22 December, 2016
Cross Border Trade and Ease of Doing Business
In this Indian Express article, Bibek Debroy, explains some of the reasons why India's performance in cross border trade as per the World Bank Ease of Doing Business report is poor.
The logistics story isn’t that good. Broadly, major problems are too many unorganised and unregistered players;...
19 December, 2016
Vivek Dehejia Talks to The Financial Express on the Importance of the RBIs move to eKYC
Resident Senior Fellow Vivek Dehejia is quoted in the Financial Express, commenting on the RBIs move to allow eKYC. He says:
“The movement of some or many of the unbanked into the formal financial sector and the movement of firms from the informal to the formal economy (or, equivalently, the ...
16 December, 2016
Interesting Interview with Gita Gopinath on the Demonetisation Move
Harvard professor Gita Gopinath speaks about the demonetisation move and and its implementation in this interview with CNBC 18. She says:
I am in favour of the principle of moving to a low cash usage economy. The harder thing to swallow is this rather dramatic overnight making 86 percent o...
02 December, 2016
The Behavioural Consequences of Demonitisation
Mudit Kapoor, Visiting Fellow at IDFC Institute, writes on the large behavioural consquences of demonitisation and how they could create a positive welfare impact. Excerpts below:
There is no doubt that such a drastic move is pushing people, primarily those in the informal economy, to...
01 December, 2016
India Spend in Conversation with Praveen Chakravarty: Prospects and Perils of Demonitisation
India Spend's Abhishek Waghmare interviews Praveen Chakravarty, Visiting Senior Fellow at IDFC Insitute, on demonitisation and it's prospects and perils. Exceprts below:
The chaos was inevitable… There were 15 billion notes of 500 rupees and 6 billion notes of 1000 rupees on the 8th...
25 November, 2016
Montek S. Ahluwalia, in this Livemint article, explains why demonetisation is only a piece of the puzzle to tackle corruption and black money, and is likely to have an adverse effect on GDP and low-end employment. Moreover, Ahluwalia advises several steps to significantly improve the proce...
24 November, 2016
Currency Reform and the Economic Process
Niranjan Rajadhyaksha, in this Livemint article, discusses some broad issues that deserve immediate attention in the wake of the currency reform. Shedding light on the economic processes that result from this exogenous shock, Rajadhyaksha cautions against jumping to quick conclusions,...
23 November, 2016
The Forgotten Hero
Visiting Senior Fellow, Praveen Chakravarty, moderated a panel at the Tata Literature Live, 2016 at the Prithvi Theater in Mumbai on November 20, between authors Sanjaya Baru and Vinay Sitapati, and Former Union Minister of Finance Mr. P. Chidambaram on the legacy of India's 9th Prime Minister ...
15 November, 2016
Vivek Dehejia Speaks to BBC News on Indian Government's Move to Scrap Rs 500 and Rs 1,000 notes
Vivek Dehejia is quoted in a BBC News article on the macroeconomic impact of scrapping Rs 500 and Rs 1,000 notes by the Indian Government. Dehejia says:
India now operates under a monetary policy regime known as inflation targeting. If a portion of the stock of currency in circulation...
15 November, 2016
Demonetisation: Fact and Fiction
Vivek Dehejia, Resident Senior Fellow at IDFC Institute deconstructs the debate on government's demonetisation move by separating facts from fiction.
First, given that the old 500 and 1,000 rupee notes are being replaced with new 500 and 2,000 rupee notes, what is involved is, in eff...
08 November, 2016
Discussion by ADR on the Viability of Simultaneous Elections
Association for Democratic Reforms (ADR) on 26 October organised a discussion to explore the possibilities and challenges presented by simultaneous elections. Eminent speakers, including Shri Bhupender Yadav (Member of Parliament, Rajya Sabha), Dr S. Y. Quraishi, former...
27 October, 2016
Accidental India: A History of the Nations Passage Through Crisis and Change | Book Review
Shankkar Aiyar’s ‘Accidental India: A History of the Nations Passage Through Crisis and Change’, presents a thought-provoking perspective on the economic and political history of post-independence India. Combining academic rigor with journalistic flair, the book introduces its ...
20 October, 2016
Dr. Vivek Dehejia Presents a Lecture "Where is India Going?" at the LUISS Guido Carli in Rome
Resident Senior Fellow Dr. Vivek Dehejia presented a lecture "Where is India Going?" at the Center of Financial and Monetary Studies at LUISS Guido Carli in Rome, on October 18, 2016. LUISS is one of Italy's leading private universities. The talk focussed on the challenges of improving the doing bus...
19 October, 2016
GST Council Discusses a Four-Tier Rate Structure
The GST Council discusses a four-tier rate structure and agrees on compensation to the loss-incuring states for the first five years of the tax regime. With a peak rate of 26 percent plus cess on ultra-luxury and demerit goods, lower slabs are set at 6, 12 and 18 percent. Read more on...
13 October, 2016
What Globalisation & Urbanisation Mean for Cities
Richard Florida writes about the new Brookings study, Redefining Global Cities. He speaks of a new typology of global cities drivinig the world economy.
Globalization might make us feel small in a growing world, but the lessons of urbanization should remind us how much more powerful we can...
12 October, 2016
Moving Beyond Rankings: The Doing Business Report
This Livemint article talks about the World Bank's Doing Business Report, and how India will need to go beyond rankings to make a tangible difference.
The Indian government has taken great interest in addressing the problems of doing business in the country and improving India’s ra...
15 September, 2016
Moving Towards Better Definitions of ‘Urban’ in India
In this Idea's for India column, Visiting Fellow Mudit Kapoor, Senior Associate Vaidehi Tandel and Consulting Senior Associate Komal Hiranandani, argue that alternative definitions of 'urban' are better suited than the administrative definition used by the government to determine poli...
14 September, 2016
India’s Interstate Disparity
This Livemint article talks about how Vivek Dehejia and Praveen Chakravarty, Senior Fellows at IDFC Institute, have thrown India’s inter-state income disparity into 'sharp relief'. It highlights certain exemplary points from Dehejia and Chakravarty's recent briefing paper on the top...
01 September, 2016
Is a Flourishing Rental Housing Market Key to Housing for All?
India's huge housing deficit, especailly in the lower income bracket, calls for a serious relook at the rental housing regime. This article in Swarjya by Vivek Kaul, talks of the critical need for rental housing reform if India's housing for all by 2022 target is to be fulfilled....
31 August, 2016
Reaching Out to the Unbanked
Following the announcement a new micro finance initiative by Ratan Tata, Nandan Nilekani and Vijay Kelkar, this Economic Times Editorial, " Why small banking makes big sense", maintains that despite the failures in the Micro-finance space in recent years, the idea still...
29 August, 2016
Vivek Dehejia Speaks to the Open Magazine on the Appointment of Urjit Patel as Governer RBI
Vivek Dehejia, Resident Senior Fellow at IDFC Institute speaks to the Open Magazine , on the appointment of Dr. Urjit Patel as Governor of the Reserve Bank of India (RBI) and the challenges that lie ahead for him.
Dehejia commends the departure from traditional ad-ho...
25 August, 2016
IDFC Bank Expects to Grow Extensively Over the Next Five Years
In this ET Interview, Rajiv Lall, MD & CEO of IDFC Bank, speaks on the private sector lender's expectation to grow its retail book aggresively and gain over Rs 13,000 crore in CASA deposits over the next five years:
"It will still be 5-7 years before we can say we have CASA that is 2520%...
23 August, 2016
Vivek Dehejia Speaks to BBC News on the Appointment of Urjit Patel as Governor of the Reserve Bank of India
Vivek Dehejia, Resident Senior Fellow at IDFC Institute is quoted in a BBC News article by Leisha Chi on the promotion of Deputy Governor Urjit Patel to Governor of the Reserve Bank of India (RBI).
Chi uses the word 'continuity' to describe Mr Patel's appointment as "he ...
23 August, 2016
Vivek Dehejia Talks to Radio Canada International on the State of India-Canada Bilateral Relations
Vivek Dehejia, Resident Senior Fellow at IDFC Institute speaks to Radio Canada International on the state of India-Canada bilateral relations. Dehejia discusses the common ground that the countries share and highlights the irritants that can be addressed to improve the increasing warm rela...
22 August, 2016
Vivek Dehejia Talks to FT as India Promotes Urjit Patel to Replace Rajan as Head of Central Bank
Vivek Dehejia, Resident Senior Fellow at IDFC Institute is quoted in Amy Kazmin and David Keohane's Financial Times article on the appointment of Deputy Governor, Urjit Patel as the Governor of the Reserve Bank of India (RBI), who will succeed Governor Raghuram Rajan when he departs in Septembe...
22 August, 2016
Banks are Unfair in their Role as Financial Advisors/Distributors
In this blogpost, Renuka Sane, Visiting Fellow at IDFC Institute, along with Monika Halan writes on the mis-selling of financial products by banks, emphasising the lack of consumer protection in financial regulation in India. To understand the situation better, Sane and Hala...
22 August, 2016
How Can Financial Regulators Combat Mis-Selling?
In this blogpost, Renuka Sane, Visiting Fellow at IDFC Institute writes with Monika Halan on five ways in which financial regulators can combat the mis-selling of financial products in India. This post follows Sane and Halan's article on how banks are unfair in their role as financial...
16 August, 2016
The Decade That Changed Delhi
In this joint Hindustan Times and Dawn feature, maps show the incredible growth of Delhi in the decade after Partition as half a million refugees poured into the city, and hundreds of thousands fled across the border.
16 August, 2016
10 Judgements That Changed India: Book Review
Zia Mody's "10 Judgements that Changed India", is a compendium of Supreme Court cases that were critical in transforming the Indian democracy and the lives of citizens in India.
Mody’s book is aimed at readers with very little or no legal background. She presents insights into the working of th...
12 August, 2016
Responding to Rapid Urban Expansion
This post in Livemint, argues that the challenges posed by urban sprawl can be better addressed by an institutional framework that establishes multi-scale governance and a policy approach that prioritizes the provision of urban amenities in peri-urban areas. Excerpt below
"...As Indian ...
09 August, 2016
Vivek Dehejia speaks on the Rise of Anti-Globalisation at the India Economic Seminar 2016
Vivek Dehejia, Senior Fellow at IDFC Institute speaks on the rise of anti-globalisation at the recently concluded India Economic Seminar 2016. Dehejia argues that Trade Economists have done a poor job in explaining the case for free trade. Dehejia remarks that India shouldn’t b...
05 August, 2016
Flexibility left with GST Council welcoming
Rajiv Lall, MD & CEO of IDFC Bank, in this ET Now interview, comments on the GST Constitutional Amendment Bill, welcoming the flexibility left with the GST Council; “this is a milestone in the development and evolution of the Indian Federation. This is the first time t...
04 August, 2016
India's GST, Though Complex, is a Potential Game-Changer
Vivek Dehejia, Resident Senior Fellow, IDFC Institute is qouted in Soutik Biswas's BBC News article on the complex nature of India's new Goods and Services Tax (GST) reform.
Biswas proposes that this is "the most significant tax reform since independence for what is now Asia's thir...
02 August, 2016
Mismanaged Urban Planning System
This post in Livemint, while lauding Gurgaon for achiving "economist Edward Glaeser’s contention that cities are the ideal form of modern civilization", laments "the chaos created last week by the monsoon ... [as] a warning of what happens when the state abandons its role of shaping and ...
28 July, 2016
Preliminary findings from the Global Cities Summit
The Lincoln Institute of Land Policy weighs in on the expanding footprint of sprawling cities. This analysis was part of a preview of the revised and expanded Atlas of Urban Expansion, a partnership of UN-Habitat, the New York University Urban Expansion Program, and the Lincoln Instit...
12 July, 2016
Praveen Chakravarty at TEDxMDAE
Praveen Chakravarty recently spoke at the TEDxMDAE event in Mumbai where he busted some common myths about voting patterns in India. Youtube video of his talk below!
11 July, 2016
Indian Infrastructure Financing
Praveen Chakravarty, Visiting Senior Fellow at IDFC Institute, recently made a presentation on Infrastructure Financing to policymakers in Delhi. You can click on the below link to download the presentation.
30 June, 2016
Watch 5,700 Years of the Rise and Fall of Cities in this Metrocosm Animation
Watch 5,700 Years of the Rise and Fall of Cities in this Metrocosm Animation in Guardian Cities
"The Sumerian city of Eridu marks the dawn of urbanisation in 3700BC, which trickles around Mesopotamia, Iran, India and China before eventually coming west to the Mediterranean. Mapping the data makes...
28 June, 2016
Watch Vivek Dehejia Discuss the NITI Aayog/IDFC Institute Survey on Ease of Doing Business
Last week, IDFC Institute Resident Senior Fellow Vivek Dehejia spoke to the Institute of Policy Studies, Sri Lanka on the NITI Aayog/IDFC Institute enterprise survey that seeks to assess the regulatory environment for manufaturing enterprises in individual Indian states. He spoke to t...
24 June, 2016
Cities Need Good Systems
In this Times of India article, Amitabh Kant, CEO of NITI Aayog, Government of India, argues that India needs to provide good systems for its cities in order for them to deliver growth and jobs. Excerpts below:
"Over the next three decades, India needs to sustain a high growth trajectory of over ...
21 June, 2016
Tathagata Satpathy on the Rajya Sabha and Electoral Reforms
Tathagata Satpathy, Lok Sabha Member, joined us at the sidelines of the IDFC Institute Dialogues on Political Economy to discuss the importance of the role of the Rajya Sabha in India's democracy, bottom-up electoral reforms, and the suitability of India's First Part the Post voting system.
20 June, 2016
On Fixing India's Urban Growth
Ruchir Sharma, Head of Emerging Markets at Morgan Stanley Investment Management, writes in The Times of India that the manner in which India's small cities are growing is causing problems for development. Excerpts below.
"India... has a severe problem developing second-tier cities, whic...
17 June, 2016
Ravi Venkatesan on Rule of Law, Banking, and Role of Government
Ravi Venkatesan, Founder and Chairman of Social Venture Partners India and Chairman of Bank of Baroda, joined us at the sidelines of the IDFC Institute Political Economy Dialogues to discuss the rule of law, spurring reform in the legal system, banking, and the role of government and citizens in dev...
17 June, 2016
Universal Basic Incomes
This Economist article explains why "'universal basic income', an unconditional government payment given to all citizens, as a supplement to or replacement for wages" is basically flawed.
"Since 2000 economic growth across the rich world has failed to generate decent pay increases for most w...
16 June, 2016
Reclassification of Urban
Yoginder K. Alagh, in this Indian Express article, argues that "recognition [by] senior policymakers in the government that many so-called large villages are really urban areas but are not classified as towns on account of various reasons is a step in the right direction. Demographers...
15 June, 2016
How Evidence-Based Policymaking Can Bolster Separation of Powers
Sohini Chatterjee builds a case for Evidence-based Policymaking in India, in this The Wire article, for the preservation of a distinction between the powers of the organs of the state.
She argues that, "the degree of permissible substantive intervention by the courts in issues of policy and...
10 June, 2016
The New Urban Agenda must Recognize the Importance of Intermediary Cities
This Cityscope blogpost discusses the story of the coming urban explosion which is about the rise of medium-sized cities.
"...The past decade has seen the number of Asian intermediary cities explode from 342 to 629 — a far faster rate of expansion than seen for the region’s larger ...
08 June, 2016
Rohini Nilekani on Water Access and Quality
Rohini Nilekani, Founder-Chairperson of Arghyam, joined us at the sidelines of the IDFC Institute Dialogues on Political Economy to discuss problems with access to sufficient and quality water in India, and innovative approaches that have been successful in addressing this issue.
07 June, 2016
Ila Patnaik on GDP and Financial Sector Reform
Ila Patnaik, Professor at the National Institute of Public Finance and Policy, joined us at the sidelines of the IDFC Institute Political Economy Dialogues to discuss issues with India's GDP calculations and the Financial Sector Legislative Reforms Commission (FSLRC).