The Department of Economics organized a panel discussion on the “Recent Macroeconomic Events” exclusively for the students of Economics, Mathematics and Statistics (2 EMS). The topics for the discussion were:

1. The Political Economy of Public Sector Banking in India and The Ordinary Man

2. The Macroeconomic Trends of India: Growth, Development and Performance Over  the Past Decade
The students of MA Applied Economics, 1st year were chosen to lead the discussion. The former topic was discussed by Jiss Palelil (1737005) and the latter one on the macroeconomic trends  was delivered by Shankar Varma K.C (1737006). The discussion started based on the concerns raised by two eminent economists in the country, through the articles they published in a Malayalam magazine “Ezhuthu”.
Shankar Varma focused on how the Indian economy as an emerging hub is showcasing  an extraordinary performance in the foregone decade. Though the article is appreciative of the macroeconomic variables of the country like GDP, GNP, Inflation etc., it also raised concerns regarding the nation?s ability to continue the same growth in the coming years, owing to the structural challenges and decline in the production activities across all sectors.

In his discussion, Jiss Palelil took a gander at how exactly the banking sector in the country is being transformed from social institutions to private sector entities. The recent  decision of the government to establish Bank Investments Company (BIC) and Bank Boards Bureau (BBB) to „reform?, the Indian public sector banks has raised serious concerns from various corners. The Indian banking sector is known for its social outlook and reaches to  several
Millions of poor households. However, with the proposed structural transformation, the banks may lose the social responsibility and they might become mere clearing houses for sustaining the corporate pursuits and profit making companies.
The discussion was moderated by Dr Joshy KJ, HOD, Economics with his analysis and opinions on both issues. He explained to the students, the long-lasting impacts of such reforms in emerging economies like ours. This was followed by a brief Q&A session where the students raised their questions and concerns and also shared their opinions on the matter.
The discussion evolved out to be of very productive in nature and it was concluded with positive academic outcomes.