Column

Progress comes in layers: 100 Unicorns, Part 2

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The ‘Silent Transformation of India’ is now maturing, creating a fertile ground for growth of new businessesNeelkanth MishraLast Updated at April 14, 2021 22:38 IST This appeared in the Business Standard on 15 April, 2021 (link). Just funding doesn’t a business make. Last week, in the first part of a four-part series on the discovery … Read more

Dysfunction in the bond market

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Written by Neelkanth Mishra | Updated: April 6, 2021 8:56:44 am This appeared in the Indian Express on April 6, 2021 (link) Does it even matter what interest rate the government pays on the debt it takes? Interest on government debt is a transfer from taxpayers to savers (who own government bonds), and as the … Read more

India’s changing corporate landscape: 100 Unicorns, Part 1

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We are in the early stages of an extraordinary episode of rapid scaling up of new companiesNeelkanth MishraLast Updated at April 5, 2021 23:10 IST This is the first in a four-part series published in the Business Standard (link). Over the past 15 years, economic activity as well as wealth creation has shifted noticeably to … Read more

PLI: A pro-growth turn in government policy

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The growth impact of PLI schemes could start showing up in FY22Neelkanth MishraLast Updated at February 8, 2021 22:41 IST This appeared in the Business Standard on 8 February 2021 (link). Total central government spending in FY22 should be unchanged from the government’s revised numbers for FY21, with the pandemic-triggered allocations to save lives and … Read more

Relying on Growth: opinion piece on the union budget

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Aware of its own limitations, the government is carefully supporting industrial and consumer sentiment to take economy back to pre-pandemic pathIn some ways, what the government did not do is as important while assessing its focus on the quality of expenditure.Written by Neelkanth Mishra | February 2, 2021 3:00:06 am This appeared in the Indian … Read more

Global Economy: Sunnier growth with a chance of volatility

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The pandemic will leave some economic scars globally; given the uncertainty in the global economy and polity, our policymakers must avoid dogma and remain agile. Neelkanth Mishra | January 9, 2021This appear in India Today (link). ISSUE DATE: January 18, 2021 UPDATED: January 9, 2021 02:36 IST Hope 2021 is better than 2020” sets a … Read more

How much better can FY22 be?

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FY22 was once projected to be 13 per cent higher than FY20. Can six months of lockdown bring growth down to 1 per cent?Neelkanth Mishra | Last Updated at January 4, 2021 23:55 IST This was published in the Business Standard (link). India appears to be well on its way to putting the Covid-19 pandemic … Read more

Cheap money does not mean more capital flows

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Cross-border capital flows do not just get driven by interest rates; plumbing and savings patterns may matter moreNeelkanth Mishra | Last Updated at November 30, 2020 23:38 IST (This was published in the Business Standard: link) Portfolio equity inflows into emerging markets (EMs) picked up strongly in November as the US election uncertainty lifted, and … Read more

A calibrated package

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One must appreciate the restraint in “spending other people’s money”, a tendency most regimes find hard to resist. But it is equally important that nominal GDP growth picks up strongly.Written by Neelkanth Mishra | Updated: November 14, 2020 8:44:51 am (This was published in the Indian Express: link) The third package confirms some patterns in … Read more