The southwest monsoon has always occupied a special place in India’s economic history. Even today, despite rapid industrialisation, technological progress and the emergence of a diversified economy, the arrival of the monsoon continues to influence...
Rising consumption is increasingly a reflection of rising private costs, not rising well-being—making aggregates a fragile guide to lived welfare. India’s latest consumption numbers tell a comforting story. Household spending is rising, rural–urban gaps are...
The latest assessments of the World Bank, the International Monetary Fund and the Asian Development Bank suggest that the defining challenge of the coming decade is not merely sustaining GDP growth, but improving its quality,...
When Brent crude crossed $126 per barrel in early March 2026, the world took notice. Oil ministers convened. Finance ministries scrambled. But in the warehouses of urea traders in Kandla, in the paddy fields of...
Wars are fought on battlefields, but their deepest economic consequences are often felt far beyond them. Long before military conflicts subside, commodity markets—including energy—become unsettled, shipping routes grow uncertain, and financial markets in India and...
India’s experience suggests that the future of money may lie not in replacing cash, but in redefining its role. Few developments in modern economics are as intriguing as India’s evolving monetary landscape. Conventional wisdom would...
Updating the foundation of India’s economic report card from the old 2011-12 framework to the updated 2022-23 base year is one of the most critical statistical resets we have seen lately. This comprehensive overhaul establishes...
The Reserve Bank of India’s (RBI) Monetary Policy Committee, in its policy statement of 5 June 2026, retained the repo rate at 5.25 per cent while raising its inflation outlook and lowering growth projections in...
The Reserve Bank of India’s Expected Credit Loss (ECL) framework, set to come into effect from April 1, 2027, marks a major step toward forward-looking credit risk management. By moving away from an overdue-based system...
“The old world is dying. The new world is slow to emerge. And in this twilight, monsters arise,” wrote Antonio Gramsci in the 1930s in his Prison Notebooks. But one might also add that opportunities...
Following a review of evolving financial conditions, the Reserve Bank of India announced a package of liquidity operations that will inject over ₹2 lakh crore (about $23 billion) into the banking system. The measures include...
India’s Union Budget 2026–27 has been widely interpreted through its headline metrics—fiscal deficit targets, nominal growth projections, and assurances of consolidation with continuity. Yet a closer reading of the detailed fiscal architecture, particularly the “Budget...