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Author's Posts

Home > Posts by Prasanna Mohanty

Trade deficit to touch all-time high of 7% of GDP in FY23

As India prepares for the next budget, here is another critical issue it needs to focus on: The galloping trade deficit. According to the First Advance Estimate (AE1), released earlier this month, the trade...

Read more January 31, 2023 at 11:40 am Prasanna Mohanty

‘Car economics’ to explain India’s skewed growth model

Somewhat like ‘thalinomics’ of Economic Survey of 2019-20 which measured household incomes and “dosa economics” of Raghuram Rajan in 2016 to explain inflation, ‘car economics’ explains the higher-growth-higher-inequality paradigm

Read more January 20, 2023 at 3:08 pm Prasanna Mohanty

Time to press the panic button: Job loss is widespread and galloping

India has officially acknowledged that 62.5% of its population or 813.5 million people are extremely poor and need to be fed

Read more January 13, 2023 at 2:44 pm Prasanna Mohanty

An “Amrit Kaal” which entails feeding 62.5% population with “free” food

How do you describe a nation that is the fastest-growing major economy in the world and also the fifth largest economy in the world

Read more January 9, 2023 at 11:27 am Prasanna Mohanty

Trade deficits hit $111 billion in November 2022 – up by 135%

Import barriers are self-inflicted wounds which is not only disabling the fourth growth engine – exports – but also increasing forex outflows

Read more December 25, 2022 at 12:42 pm Prasanna Mohanty

When less than 4% of Indian dollar millionaires pay income tax

In FY18, the last year for which disaggregated income tax data is available, only 29,002 ITRs declared income above Rs 5 crore, while Credit Suisse said India had 7.25 lakh dollar millionaires (the wealth...

Read more December 21, 2022 at 5:07 pm Prasanna Mohanty

No escape from the lower-middle income trap, at least not yet

A 17% credit growth in the first quarter of November 2022 means little since personal loans continue to dominate over loans to industry, particularly large industry. In September 2022, the CFA explained how India’s...

Read more December 12, 2022 at 6:28 pm Prasanna Mohanty

PM-Kisan: Who and how many are getting income support of Rs 6,000?

Surely, the Center doesn’t know; had that not been the case, it wouldn’t be giving multiple sets of data, all of which contradict each other. One true “master stroke” that helped the Modi government...

Read more December 2, 2022 at 4:31 pm Prasanna Mohanty

While the RBI was sleeping…

Nearly a month after Maruti Suzuki chairman RC Bhargava raised a stink by saying that people’s ability to buy small cars has eroded and would continue to decline next year and national dailies reported...

Read more November 23, 2022 at 12:39 pm Prasanna Mohanty

EWS Quota: Can targeting 90% of Indians be called reservation, affirmative action or positive discrimination?

Until now, reservation was prompted by the perennial caste-based discrimination system, which has pushed a significant population into multiple deprivations; upper castes suffer no such handicap.

Read more November 10, 2022 at 9:31 pm Prasanna Mohanty

GM food is back on the table

Genetically modified food is back in the news after the regulator Genetic Engineering Appraisal Committee (GEAC) recommended “environmental release” of GM Mustard, billed as an indigenously developed transgenic hybrid or a “swadeshi” product, on...

Read more October 31, 2022 at 12:00 pm Prasanna Mohanty

How the CSR is being systemically killed

While there is no way of knowing if companies are really spending 2% of their net profits, the Centre has removed critical disclosure norms, making CSR activities entirely opaque and unaccountable Having diluted corporate...

Read more October 28, 2022 at 2:49 pm Prasanna Mohanty

Why is India crying foul over worsening hunger?

The Global Hunger Index 2022 relies on India’s official data in two of the four indicators, gives extra marks in the third and for the fourth, it relies on FAO’s survey while India has...

Read more October 18, 2022 at 4:21 pm Prasanna Mohanty

India added a whopping 79% to the global ‘extreme poor’ in 2020

Shockingly, World Bank estimated this using a private firm CMIE’s surveys, because Indian government wouldn’t collect household consumption data, lest it reveals the ugly truth

Read more October 10, 2022 at 2:08 pm Prasanna Mohanty

Pitfalls of Centre’s love for “revdi culture”

Two shocking revelations have hit recently: Vedanta-Foxconn to corner entire sectoral subsidy of Rs 76,000 crore to build chips and a wrong Hyundai got the PLI to make EV batteries

Read more September 30, 2022 at 11:49 am Prasanna Mohanty
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