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

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Analysing Socio-economic Backwardness among Muslims

Backward and Dalit Muslims: Education, Employment and Poverty by Surinder Kumar, Fahimuddin, Prashant K Trivedi and Srinivas Goli, Jaipur: Rawat Publications, 2020; pp 220, ₹995.

Language as People’s History

Wanderers, Kings, Merchants: The Story of India through Its Languages by Peggy Mohan, New Delhi: India Viking, 2021; pp 352, ₹599

Data Soldiers

Researchers and academia seldom think about the foot soldiers who collect data by travelling to villages, blocks, or districts and interviewing households and communities.

Impact of Leverage on Firms’ Investment

It has been observed that the economic growth cycle coincides with the investment cycle in India. It is found that firm-level leverage could provide early signals about the movements in the investment cycle. Furthermore, a firm’s leverage adversely affects its investment activity after a threshold. Regression results, after controlling for firm’s price to book ratio and operational variables, indicate that the adverse impact of high leverage is predominant on low-growth firms. The initiatives to clean up the balance sheets of banks and deleveraging by non-financial corporates should help in the revival of the investment cycle. The results are consistent with the agency cost of debt and trade-off theory of capital structure, wherein firms set targets for leverage by balancing costs and benefits of debt.

Dividend Behaviour of Indian Companies post Macroeconomic Policy Shock

The impact of the macroeconomic shock of demonetisation in 2016 on the dividend payout policy of Indian companies is examined. The analyses of 2,157 Indian companies’ data for the period from 2013 to 2018 find that both aggregate dividend payout ratio and the number of companies paying dividends dropped in post-demonetisation years. The results of the dynamic system generalised method of moments show that the long-term target dividend payout ratio declined by 9.31% post demonetisation. The study suggests that major macroeconomic shocks affect the dividend payout decisions of companies.

Lessons of Hope for India and Pakistan

Animosity at Bay: An Alternative History of the India–Pakistan Relationship, 1947–52 by Pallavi Raghavan, HarperCollins Publishers India, 2020, pp 288, ₹ 699.

Two-child Norm

In July 2021, Uttar Pradesh announced a population policy, the draft of the Uttar Pradesh Population (Control, Stabilisation and Welfare) Bill, 2021. While the contents of the bill are contentious, so is the timing of its tabling in the legislature. In terms of substantive population planning, the draft document is not only detrimental to long-term demographic transition, it has serious repercussions for welfare state mechanisms.

India’s Afghan Policy: Challenges and Anxieties

India can only wait patiently and watch the situation in Afghanistan before initiating any action.

Labour ‘Invisibility’ during COVID-19 Times

As the migrant labour exodus unfolded with unrelenting grimness through the summer of 2020, there was frequent mention of how the COVID-19 pandemic had exposed the “invisibility” of migrant labour to Indian planners and policymakers.

Bombay as Archive and Muse

Bombay Before Mumbai: Essays in Honour of Jim Masselos edited by Prashant Kidambi, Manjiri Kamat and Rachel Dwyer, Penguin Random House India, 2019; pp 428, ₹ 999 (hardbound).

The Changing Dynamics of Tribal Societies in India

India’s Tribes: Unfolding Realities edited by Vinay Kumar Srivastava, New Delhi, California, London and Singapore: SAGE Publications, 2021; pp 294, ₹ 1,295 (hardcover).

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