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

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The Sraffa Canon

A Reflection on Sraffa’s Revolution in Economic Theory edited by Ajit Sinha, Palgrave Macmillan, 2021; pp xxv+ 601, 14,821 (hardcover).

 

What Must be the Priority of the Budget?

Improving agriculture incomes and boosting consumer demand must be the top priorities.

 

Hub-and-spoke Cartels

The current approach adopted by the judicial bodies in dealing with the hub-and-spoke conspiracies is evaluated and compared with the development of the jurisprudence in foreign jurisdictions. The inhibitions faced by the judicial bodies due to a lack of maturity of the laws are also looked at.

 

Social Good and Business Interventions

Inclusive Business Models: Transforming Lives and Creating Livelihoods by Sourav Mukherjee, New Delhi: Cambridge University Press, 2021; pp 250, `695.

Development Banks and the Changing Contour of Industrial Credit in India

The gradual evolution of industrial credit in India in the last three decades is examined against the backdrop of significant structural change in ownership and regulation in the Indian banking sector. The impact of institutional changes in the Indian banking sector during the post-liberalisation phase, especially in the form of the gradual winding up of development financial institutions, on the institutional credit flow to industry is analysed. There is a significant impact of the changing ownership structure of banks on the sectoral allocation of credit. Based on the analysis of sectoral credit flow from the commercial banks and specialised term-lending institutions in India over the last three decades, the need for creating a professional talent pool within the commercial banks for term-lending as well as lending to small entrepreneurs is underscored.

 

What Ails Direct-selling Businesses in India?

The law pertaining to direct-selling businesses prevailing in India is in dire need of transformation. A critical examination of the definitions (related to direct-selling), the primary cause of concern, followed by the inept Direct Selling Guidelines issued in 2016 by the Ministry of Consumer Affairs is undertaken here. Focusing on the regulatory aspect of this business model, a case is made for a specialised regulator for direct-selling entities.

 

The Impact of COVID-19 on the Stock Market and Corporate Firms

This paper highlights the possible consequences of the pandemic on the stock markets. It notes that higher profitability in the past years, better growth opportunities in the stock market, and being a stand-alone firm have a favourable impact on stock price reactions to COVID-19 shocks and, hence, they make such firms more resilient.

 

Cryptocurrency

Consequent to the lifting of the “ban” imposed on the trade of crypto-assets by the Supreme Court of India, there has been a surge of interest in investing in crypto-assets from the general public, spurred by aggressive marketing campaigns by well-funded start-ups. In the absence of proper regulation, there is a very real danger that the public may be mis-sold this product with harm to the wider economy.

 

Fifteenth Finance Commission Recommendations

While trying to balance the competing demands from the union and the states, the Fifteenth Finance Commission has done a commendable job, but has also sacrificed objectivity at times.

 

Reconciling Blockchain and Data Protection Regimes

The emergence and spread of blockchain technology will have a profound effect on the working of the economy and society. The focus of this article is on how the spread of the blockchain technology has rendered redundant the various provisions of the Personal Data Protection Bill, 2019.

 

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