Economic and Political Weekly

The Economic and Political Weekly is a peer-reviewed academic journal published weekly by the Sameeksha Trust, focusing on various social science disciplines. In January 2018, Gopal Guru was appointed as the new Editor, taking on the role for a five-year term. He succeeded Paranjoy Guha Thakurta, who had been the full-time editor since April 1, 2016. Guha Thakurta's appointment occurred during a period of controversy, as many social scientists were voicing concerns over the resignation of the previous editor, C. Rammanohar Reddy, in January 2016. This situation continued to unfold dramatically, culminating in Guha Thakurta's own resignation in 2017.

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Monetary Policy, Financial Inclusion, Financial Stability, and Markets

1 week ago | epw.in | Partha Pratim Ray

This special issue of the Economic & Political Weekly is devoted to several leitmotifs of money, banking, and finance. With an emphasis on diversity and spanning over seven papers, this special issue delves into various themes. While some of the themes are contemporary, some are more classical. Dear Reader, To continue reading, become a subscriber. Explore our attractive subscription offers. OrTo gain instant access to this article (download).
Loans in the Time of Terrorism

1 week ago | epw.in | Biju Paul Abraham |Partha Pratim Ray

Pakistan and the IMF Lending The IMF, being a quota-based organisation, is often run at the behest of the bigger quota holders, dominated by the US, European countries, and China. Pakistan, despite being a serial borrower, exhibiting the features of a classic rentier state, was able to obtain continuous support from the US, China, and select countries in the Arab world on account of its strategic location and ability to build alliances.
CJI Khanna’s Tenure

2 weeks ago | epw.in | Alok Prasanna Kumar

Chief Justice of India, Justice Sanjiv Khanna’s tenure at the Supreme Court saw increased transparency on the part of the Court and re-established the Court’s role in protecting constitutional values. His actions should set the template for his successors if they intend to restore the Court’s damaged credibility in the years to come. With a tenure of little over six months, not much was perhaps expected of Chief Justice of India (CJI) Justice Sanjiv Khanna’s tenure.
Shyam Benegal (1934-2024)

2 weeks ago | epw.in | Atul Tiwari

A Tribute I do not know where to begin when talking about Shyam babu? And about which Shyam Benegal? Benegal, the film-maker? Benegal,the teacher-philosopher? Benegal, the guy who not only made films about villages and moffusil towns but also helped little villages and townships to get roads, schools, hospitals, and electricity?
Debating Bureaucratic Apathy

3 weeks ago | epw.in | Supriy Ranjan |Pankaj Kumar

Institutional Decay and IAS Story in India The argument that the twin factors of political interference and internal incentives are the major reasons that have stymied Indian bureaucracy is only partially valid. It cannot be the sole cause of its structural inefficacy and failure.
Emergence of Free Trade Agreements as a Trade Policy Instrument in India

1 month ago | epw.in | Nida Rahman |Krishan Sharma

Free trade agreements have become vital trade policy instruments for India, addressing the issue of untapped export potential and harmonising trade policies with potential trading and strategically important countries. India recently inked FTAs with Australia and UAE in 2022.
Navigating the Nexus of Migration and Development

1 month ago | epw.in | Amrita Datta |Manish Kumar

Migration and Development in India: The Bihar Experience by Amrita Datta, Oxon and New York: Routledge, 2023; pp xviii + 220, price not indicated. Migration, a dynamic and multidimensional phenomenon, hasbeen an integral part of India’s socio-economic landscape. Over the centuries, the movement of people within and across the country’s borders has profoundly shaped its cultural, economic, and social fabric.
Enhancing Livelihood Security of the Rural Households during Economic Downturns

1 month ago | epw.in | Arushi Jain |Smita Sharma |Dilpreet Sharma

An Analysis of MGNREGA The study investigates whether the Mahatma Gandhi National Rural Employment Guarantee Scheme acts in a procyclical, countercyclical, or neutral manner in response to economic fluctuations captured by the changes in GDP. Results indicate a significant negative long-term relationship between MGNREGA work supply and GDP across all stages of variable decomposition as well as between trend-excluded and seasonally adjusted demand cycles and GDP from Q1: 2013–14 to Q2: 2022–23.
Delhi Assembly Elections 2025

1 month ago | epw.in | Rashmi Singh

The Aam Aadmi Party Learns to Lose The loss of Aam Aadmi Party in the recently concluded elections in Delhi must be analysed in the context of its visible difficulty in being able to govern the city effectively and its recurring friction with the union government. The defeat also signifies a rejection of the party’s overweening ambition, combined with its increasingly ambiguous and unconvincing ideological positioning.
The Tariff Tantrum and Its Justification

1 month ago | epw.in | Parthapratim Pal |Partha Pratim Ray

Dubious Foundation of Questionable Economics The United States authorities try to justify the imposition of tariffs as a response to persistent US trade deficits and the perceived decline of domestic manufacturing, arguing that trade imbalances undermine advanced manufacturing capacity and critical supply chains. However, this argument overlooks several other factors that influence the US trade deficit and domestic economy.