Roshan Kishore

Roshan Kishore is the Data and Political Economy Editor at Hindustan Times. His weekly column for HT Premium Terms of Trade appears every Friday.

Articles by Roshan Kishore

Terms of Trade | What ails competitive capitalism in India

Viral Acharya's new paper, which is likely to create a big debate, suggests that the monopolistic practices of a few firms are contributing to inflation.

Acharya, essentially speaking, is arguing that the state enforces greater discipline on capital to get rid of economic inefficiencies. (Mint File Photo)
Published on Mar 31, 2023 07:55 PM IST

Number theory: The state of India’s consumption at the end of FY 2022-23

India’s GDP suffered a contraction of 5.8% in 2020-21, largely a result of the economic disruption of the 68-day long lockdown which began on March 24, 2020.

The second advance estimates for 2022-23 GDP were released on February 29. (Representative image)
Published on Mar 30, 2023 11:41 PM IST
By, New Delhi

GST collection set to exceed 18 lakh crore this financial year

GST collections in the first 11 months of FY23 have already touched ₹16.46 lakh crore, a robust 22.7% year-on-year growth.

The revenues in the current financial year up to January 2023 are 24 per cent higher than the GST revenues during the same period last year. (File)
Published on Mar 30, 2023 11:40 PM IST
ByRajeev Jayaswal, , New Delhi

Number theory: Five charts which explain the Karnataka contest

The Election Commission of India (ECI) announced on Thursday that elections to the Karnataka state assembly will be held on May 10 and the results declared on May 13.

(Agencies/Representative use)(HT_PRINT)
Updated on Mar 30, 2023 11:23 AM IST

Number theory: Two charts which capture Congress’ current crisis

Even without the crisis triggered by the Gandhi’s conviction, the Congress would have still had to take a call on its face for the 2024 campaign – unless it decided that it would pick current President Mallikarjun Kharge.

Congress President Mallikarjun Kharge and party leader Rahul Gandhi during opposition leaders' meeting at Kharge's residence, in New Delhi, Monday.(PTI)
Updated on Mar 28, 2023 10:47 AM IST
By, New Delhi

Terms of Trade | Should Rahul Gandhi take the two-year jail term?

Here’s a counter-intuitive take: Embracing the sentence will generate moral capital for the Gandhi family, burnish his anti-establishment credentials, create sympathy, and perhaps improve his party’s fortunes in 2024

This family always places its partisan interest on a higher pedestal than national interest and the BJP's biggest political contribution is to end this dynastic rule. (PTI)
Published on Mar 24, 2023 07:36 PM IST

Five questions which explain Delhi’s Budget

Finance minister Kailash Gahlot presented Delhi’s 30th budget on March 22

HT Image
Published on Mar 22, 2023 11:55 PM IST
ByAbhishek Jha and Roshan Kishore, New Delhi

Indian economy is in a low-risk low-reward position if there is a global slowdown

The world economy has been living from one scare to another in the past few years

HT Image
Published on Mar 22, 2023 02:19 PM IST

Delhi’s GSDP set to cross 3 lakh per capita, third state to hit benchmark

With an expected per capita GSDP of ₹3.08 lakh in 2022-23, Delhi will become the third state after Goa and Sikkim to cross the benchmark

The market at east Delhi’s Laxmi Nagar.) (Raj K Raj/HT Photo)
Published on Mar 21, 2023 12:32 AM IST

Terms of Trade | Rahul Gandhi should return to a 1920 communist debate

As MN Roy sought support from the Communist International for revolution in India, Lenin shot him down. India’s Left-liberals are today seeking the support of Capitalist International. It won’t work

The dispute around Rahul Gandhi’s comments is only a manifestation of this strategy rather than the beginning of it.
Published on Mar 17, 2023 02:06 PM IST

What explains high inflation despite weak consumer demand?

Data from the Centre for Monitoring Indian Economy (CMIE) shows that headline IIP print for the period between April 2022 to January 2023 stood at 136.9

HT Image
Updated on Mar 16, 2023 11:49 AM IST

Inflation in Feb 6.44% on prices of cereals, milk

A hike will add to the cumulative rate hike of 2.5 percentage points since May 2022 and is bound to generate growth headwinds for what is already a slowing economy.

HT Image
Updated on Mar 14, 2023 08:11 AM IST
By, New Delhi

Terms of Trade | The economics and politics of migration in India

The news about an attack on Bihari workers in Tamil Nadu wasn’t true. But it raises interesting questions about the push-and-pull factors behind migration, the differential impact on politics of different kinds of migration, and the often invisible but effective democratic consciousness of migrants

The migration of poor workers, even of the indentured variety, is very old in India and has inspired rich literature, both in fiction as well as academic research. (HT Photo)
Published on Mar 10, 2023 12:38 PM IST

Terms of Trade | The story of two betrayed revolutions in Bihar

The political trajectory and subsequent tragedy of Swami Sahajanand Saraswati and Karpoori Thakur in Bihar underlines the complex interplay of caste and class

Karpoori Thakur (L) and Swami Sahajanand Saraswati. (HT Archive/Wikimedia Commons)
Published on Mar 03, 2023 08:42 PM IST

How to interpret India’s latest GDP numbers

While analysis of GDP statistics is normally a straightforward exercise, the latest release included revisions to past GDP statistics in keeping with NSO’s revision calendar

Representational image. (Shutterstock)
Updated on Mar 03, 2023 11:26 AM IST

Key takeaways, political impact of poll verdicts in north-eastern states

Of the three states which went to polls the Bharatiya Janata Party (BJP) and its allies were in power in Tripura and Nagaland. It is going to retain power in these two states

The BJP fought 116 assembly constituencies (ACs) out of the total 178 that went to polls in these three states when elections were held in 2018 (Papri Bhattacharjee)
Published on Mar 03, 2023 12:37 AM IST
ByAbhishek Jha and Roshan Kishore

The good, bad and ugly about India’s post-pandemic labour market

Once lockdown restrictions were relaxed and the economy started recovering, questions shifted to not just the magnitude of the recovery but also its nature

HT Image
Updated on Mar 01, 2023 12:02 AM IST
ByAbhishek Jha and Roshan Kishore

India’s Q3 GDP growth 4.4% amid slew of revisions

The 4.4% growth for the quarter ending December was lower than the 4.7% projection by a Bloomberg poll of economists

The 4.4% growth for the quarter ending December was lower than the 4.7% projection by a Bloomberg poll of economists (Bloomberg)
Updated on Mar 01, 2023 04:08 AM IST
By, New Delhi

Unemployment rate falls to lowest since 2018; job markets recover from pandemic

The Periodic Labour Force Survey (PLFS) report also suggests that some migrants who came back to their villages during the pandemic have gone back to the cities again

The National Sample Survey Office (NSSO) released the Periodic Labour Force Survey (PLFS) report on Friday. (Sanchit Khanna/HT Photo)
Updated on Feb 25, 2023 08:52 PM IST
ByAbhishek Jha and Roshan Kishore

Terms of Trade | Climate crisis is further complicating capitalist agriculture

There exists research to show that the intersection of climate crisis with capitalist farming has made things far worse for the farmer than what pre-capitalist weather fluctuations entailed.

While it is not yet a given, it increasingly looks like large parts of India are going to face a second consecutive year when summer will arrive early. (HT File Photo)
Published on Feb 24, 2023 07:29 PM IST

Number Theory: How will the churn in Shiv Sena and JD(U) affect 2024?

As one waits for these four elections , there is an interesting political churn taking place in another two states, which account for almost as many Lok Sabha constituencies as the four described above.

Shiv Sena flags(Rishikesh Choudhary/HT Photo)
Updated on Feb 23, 2023 12:54 PM IST
ByRoshan Kishore and Abhishek Jha

Terms of Trade | Cooperatives: BJP’s latest rural challenge to the opposition

With its push for cooperatives, the BJP has the potential to deepen its political strength across rural India and weaken the finance muscle of other Opposition parties. It also makes sound economic sense.

To be sure, cooperatives are only as good or bad as the larger socio-political ecosystem around them. (PTI)
Published on Feb 17, 2023 10:07 PM IST

Number theory: How will a global slowdown affect the Indian economy?

The intensity of a global slowdown’s impact on the Indian economy will depend on its magnitude in countries with which India has a more important export relationship.

While exports fell from $38 billion to $33 billion between December 2022 and January 2023, imports have fallen from $60.2 billion to $50.7 billion, bringing the trade deficit down from $22 billion to $17 billion.
Updated on Feb 16, 2023 01:51 PM IST

Four charts which capture the inflation situation in India

India’s retail and wholesale inflation stood at 6.5% and 4.7%, respectively, in January. While retail inflation, as measured by the Consumer Price Index (CPI), increased from 5.7% in December

HT Image
Updated on Feb 14, 2023 11:22 PM IST

Retail inflation shoots up to 3-month high of 6.5% in Jan as food prices bite

High cereal and protein prices pushed India’s retail inflation beyond RBI’s tolerance zone once again in January , with the headline Consumer Price Index (CPI) print coming in at 6

File image: Customers in an alley of a departmental store.(HT/MINT_PRINT)
Updated on Feb 14, 2023 03:37 AM IST
By, New Delhi

Terms of Trade | Will Adani-gate hurt the BJP?

The setback for the group has neither established firm evidence of a money trail with the party nor is it affecting the larger economy, yet. The battle is confined to the political narrative but to win that, the Opposition has to dent the BJP’s political economy approach

While the stock value and finances of the Adani Group have suffered a heavy loss, it is entirely premature to say whether the billionaire and his companies will go belly-up. (Reuters)
Published on Feb 10, 2023 08:45 PM IST

State of the economy, as the Monetary Policy Committee would have seen it

The latest meeting of the Reserve Bank of India’s Monetary Policy Committee (MPC) is the first after the presentation of the Union Budget.

Representational image
Updated on Feb 09, 2023 06:05 AM IST
By, New Delhi

‘Economy remains resilient’: RBI increases key policy rate

The hike, which many experts see as the last in the current monetary tightening cycle, will also raise the borrowing cost for corporate borrowers, increasing the cost of capital.

Representational image(Mint Archives)
Updated on Feb 09, 2023 05:07 AM IST
By, New Delhi

Evaluating the Amrit Kaal strategy in a demographic context

How does the government’s “Amrit Kaal” strategy look in the context of India’s ongoing demographic evolution? Here are five charts that explain this in detail.

Prime Minister Narendra Modi.
Updated on Feb 06, 2023 08:49 AM IST
ByAbhishek Jha and Roshan Kishore, New Delhi

The Indian economy: Past, present, future

No other government has prioritised government capital spending as much as the second Narendra Modi government is doing.

 India’s GDP growth has been higher in the past than what it is expected to be in the next couple of years.(AFP)
Updated on Feb 06, 2023 11:00 AM IST
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