ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Alok SheelSubscribe to Alok Sheel

Macroeconomic Policies for India's Growth Crisis

Instead of focusing on predetermined fiscal targets that are unlikely to be realised, India's fiscal adjustment should be calibrated to the recovery and a rebalancing of demand from the public sector to the private. This is best done by targeting the structural rather than the cyclical fiscal deficit. There should also be a sharp shift in the composition of the deficit from consumption to addressing supply-side bottlenecks through public investment in infrastructure. Unlike public consumption which can crowd out private demand, public infrastructure investment has higher fiscal multipliers and can crowd in private investment.

IMF and the Eurozone

The International Monetary Fund has made an assessment that an additional global fi rewall of $1.1 trillion is required to address the fallout of the eurozone crisis. But a number of very valid reasons make it clear that the European Central Bank or some other quasi-fi scal mechanism, rather than the IMF must be empowered by the eurozone authorities to provide the liquidity required. The IMF's resources should be used primarily for developing countries that lose market access to reserve currencies and need to square their international payments.

Rise and Fall of Securitised Structured Finance

This article traces the development of the credit "storm" currently faced by western financial markets and suggests reforms that will help strengthen systems.

EASTERN UTTAR PRADESH-Inundation and Backwardness

EASTERN UTTAR PRADESH Inundation and Backwardness Alok Sheel IT is common knowledge that the eastern Gangetic plain is excessively flood-prone. Floods are caused both by discharge from rivers, as well as by waterlogging following incessant rain. As we move eastwards along the Gangetie plain, the land gets flatter and the average precipitation increases. Rivers are consequently sluggish, change their courses frequently


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