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

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Financial Sector in the Budget

The 2020 Union Budget has announced several small steps that could give some fillip to the financial sector in the short run, but the lack of a long-term vision for reviving an economy in downswing remains most conspicuous.

Much Ado About Nothing

The announcements for the financial sector in the 2019–20 budget are either too little or too grandiose relative to the actual requirements of the sector. Given this, the author questions the razzmatazz about the budget as the “auspicious” occasion for which government policy initiatives need to wait to be announced.

Why the Financial Sector Needs a Single Regulator

Why the Financial Sector Needs a Single Regulator S SUBRAMANYAN This piece is in response to the article by R H Patil (EPW, p 4255, November 10, 2001) on this subject. It is a comprehensive and interesting article. The issue of establishing an appropriate regulatory mechanism for India

Financial Sector: Single vs Multiple Regulators

The possibility of friction, even conflict, as a result of the functioning of multiple regulators overseeing different segments of the financial sector does not make a convincing case for a single all-powerful super-regulator on the lines of the arrangement in the UK. A more satisfactory solution to the problem would be to devise an institutional mechanism for conflict resolution.

National Champions in the Financial Sector

To argue for development of national champions in the financial sector is not blind economic nationalism, nor is it protectionism or an alternative to competition. The authorities have to plan to develop and retain a few key institutions, but certainly it will serve no purpose if these institutions do not and are not enabled to come up to accepted international standards. Lessons from the story of the submission of the City, one-time symbol of British financial power and dominance.

Macroeconomic Policy and Asset Markets

Bank-based and stock market-based systems are compared from the viewpoint of macroeconomic policy. The author suggests that the former has desirable properties with reference to the objective of increasing output and employment.
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