Building Blocks of the Indian Economy
Episodes
The Indian Budget - lots of Josh, not much Hosh.
18 Nov 2025
Contributed by Lukas
S3 E20 In this concluding episode of Series 3 of Building Blocks of the Indian Economy, we bring together all our insights to try and answer the quest...
Do India's cities need a new freedom struggle?
11 Nov 2025
Contributed by Lukas
S3 E19 In this week's episode of Building Blocks of the Indian Economy we travel to Pune to explore the impact of the city's property boom on ...
Who is the Mayor of Mumbai?
04 Nov 2025
Contributed by Lukas
S3 E18 In this week's episode of Building Blocks of the Indian Economy, we travel to the city maximum, Mumbai. We find out where India's riche...
The Maharashtra government's 25 million sisters
28 Oct 2025
Contributed by Lukas
S3 E17 In this week's episode of Building Blocks of the Indian Economy we travel to Mumbai to analyse the finances of the Maharashtra Government. ...
Is there any good reason the Government of India is in so much debt?
21 Oct 2025
Contributed by Lukas
S3 E16 In this week's episode of Building Blocks of the Indian Economy we look at just how much of the government's tax revenue gets eaten up ...
Will the Government of India be in debt, forever?
14 Oct 2025
Contributed by Lukas
S3 E15 In this week's episode of Building Blocks of the Indian Economy we look at the massive debt that the Government of India has built up. Ever...
Just how smart are India's cities?
07 Oct 2025
Contributed by Lukas
S3 E14 In this week's episode of Building Blocks of the Indian Economy we account for all the money that the Government of India spends on India&#...
Money flows into India's taps. How much water flows out?
30 Sep 2025
Contributed by Lukas
S3 E13 In this week's episode of Building Blocks of the Indian Economy we analyse the government's attempt to provide tap water to rural India...
India's free lunch costs $25 billion.
23 Sep 2025
Contributed by Lukas
S3E12 In this week's episode of Building Blocks of the Indian Economy we look at the Government of India's massive food subsidy. Food is now f...
Could Andhra Pradesh Save India's Fertiliser Subsidy?
16 Sep 2025
Contributed by Lukas
S3E11 In this week's episode of Building Blocks of the Indian Economy we analyse India's gigantic fertiliser subsidy bill. There has been an i...
How much money does the government put in farmers' pockets?
09 Sep 2025
Contributed by Lukas
S3 E10 In this week's episode of Building Blocks of the Indian Economy we start to explore budget spending on agriculture. Half of the total budge...
The government health spending you have never heard of.
02 Sep 2025
Contributed by Lukas
S3E9 In this week's episode of Building Blocks of the Indian Economy we look at how the Government of India spends much more on the National Healt...
The Indian Teacher - the Goose that lays the Golden Egg?
26 Aug 2025
Contributed by Lukas
S3E8 In this week's episode of Building Blocks of the Indian Economy, we assess the Government of India's spending on education. There is no p...
The Indian Railways Jugaadu Economic Model
12 Aug 2025
Contributed by Lukas
S3E7 In this week's episode of Building Blocks of the Indian Economy we look at the real reason behind the Modi government's recent huge inves...
Would you like to build a road in India?
05 Aug 2025
Contributed by Lukas
S3E6 In this week's episode of Building Blocks of the Indian Economy, we look at the Modi government's ambitious road building efforts. Whilst...
Jai Jawan, Jai Rafale?
28 Jul 2025
Contributed by Lukas
S3E5 In this week's episode of Building Blocks of the Indian Economy we examine the price that India pays for living in such a dangerous neighbour...
Does India even need tariffs anymore?
15 Jul 2025
Contributed by Lukas
S3E4 In this week's episode of Building Blocks of the Indian Economy, we explore the revenue that the Government of India raises from tariffs on i...
GST - the Good & Simple (but still quite complicated) Tax.
08 Jul 2025
Contributed by Lukas
S3E3 In this week's episode of Building Blocks of the Indian Economy we explore the GST, the tax which touches all our lives, everyday, all across...
Who pays income tax in India?
24 Jun 2025
Contributed by Lukas
S3E2 In this week's episode of Building Blocks of the Indian Economy we find out how a small number of tax payers contribute a huge amount to Indi...
The mysterious case of India's magical corporate tax cut.
17 Jun 2025
Contributed by Lukas
S3E1 In this week's episode of Building Blocks of the Indian Economy we explore the effects of the Modi government's 2019 big fat corporate tax cut. W...
The Mad Mad World of Indian Venture Capital.
19 Nov 2024
Contributed by Lukas
S2 E24 Venture capital is quite a niche form of business finance - but it does make for some great reality tv shows! In this closing episode of season...
NRI is bigger than FDI.
12 Nov 2024
Contributed by Lukas
S2 E23 NRIs, Indians working abroad, have sent home a record $120 billion in remittances, much more than the amount foreigners invest in India through...
Viksit Bharat will have Viksit Pensions.
05 Nov 2024
Contributed by Lukas
S2 E22 Pensions are a function of income - rising incomes lead to bigger pensions. In this week's episode of Building Blocks of the Indian Economy, we...
Let Indian Insurance Companies Start Buying the World.
29 Oct 2024
Contributed by Lukas
S2 E21 It is usually banks which make the headlines, but in some financial markets insurance companies are bigger investors. In this week's episode of...
India's Shadow Banks are not so Shady.
22 Oct 2024
Contributed by Lukas
S2 E20 Non-Bank Financial Companies or NBFCs have sometimes been called "shadow banks". In this week's episode of Building Blocks of the Indian Econom...
Will Indian banks learn from the (quite recent) past?
15 Oct 2024
Contributed by Lukas
S2 E19 After a spate of loan defaults just before the pandemic, Indian banks were "recapitalised", which is another word for a "bailout". In this week...
Who is responsible for India's deposits crisis?
08 Oct 2024
Contributed by Lukas
S2 E18 Government officials have raised concerns that Indians are not depositing in their bank accounts like they used to. In this week's episode of B...
No More Cash, No More Corruption?
01 Oct 2024
Contributed by Lukas
S2 E17 The Reserve Bank of India has launched a pilot project for a digital rupee. In this week's episode of Building Blocks of the Indian Economy, we...
There is No Such Thing as a Free UPI.
24 Sep 2024
Contributed by Lukas
S2 E16 The UPI, United Payments Interface has been a fantastic innovation, making digital payments free for millions of users. In this week's episode ...
The Reserve Bank of India has not lost its Independence.
17 Sep 2024
Contributed by Lukas
S2 E15 Because it never had any to start with! In this week's episode of Building Blocks of the Indian Economy we look at the money supply and the Res...
What will the Russians do with all their rupees?
10 Sep 2024
Contributed by Lukas
S2 E14 Russia is building up huge rupee surpluses from its oil exports to India. In this week's episode of Building Blocks of the Indian Economy, we l...
Could George Soros crash the Indian rupee?
03 Sep 2024
Contributed by Lukas
S2 E12 Some have claimed that George Soros is behind the Hindenburg report, casting an evil eye over the Indian economy. In this week's episode of Bui...
Why India needs a stronger rupee.
27 Aug 2024
Contributed by Lukas
S2 E12 An Indian rupee is now worth about half what it was a decade ago. In this week's episode of Building Blocks of the Indian Economy we find out t...
Who wants the Indian rupee?
20 Aug 2024
Contributed by Lukas
S2 E11 The Indian rupee is fully convertible for everyday transactions, but not so much for big capital transactions. In this week's episode of Buildi...
India's Biggest Casino - the Options Market
13 Aug 2024
Contributed by Lukas
S2 E10 India has become the biggest options market in the world - by volume. In this week's episode of Building Blocks of the Indian Economy we find o...
The Economics of India's Love for Gold.
06 Aug 2024
Contributed by Lukas
S2 E9 India's love for gold is deeper than ever. In this week's episode of Building Blocks of the Indian Economy, we explore the economics of the grea...
India Wants Half-Price Gas.
30 Jul 2024
Contributed by Lukas
S2 E8 Consumers of natural gas in India complain about high prices. Producers complain about low prices. In this week's episode of Building Blocks of ...
India's new approach to farm reforms.
23 Jul 2024
Contributed by Lukas
S2 E7 Could the Government of India reform agriculture without all the protests? In this week's episode of Building Blocks of the Indian Economy we lo...
Does India's Futures Market Have a Future?
16 Jul 2024
Contributed by Lukas
S2 E6 The Government of India quite likes banning futures trading in agricultural commodities. In this week's episode of Building Blocks of the Indian...
Will bond traders choose the Prime Minister of India?
09 Jul 2024
Contributed by Lukas
S2 E5 In an incredible series of events, bond traders removed the British Prime Minister, Liz Truss in October 2022. In this week's episode of Buildin...
The Global Rush to Buy Indian Bonds
02 Jul 2024
Contributed by Lukas
S2 E4 Government of India bonds have entered JP Morgan's Government Bond Index for Emerging Markets. In this week's episode of Building Blocks of the ...
India's Corporate Bond Market needs, Indian Corporates.
25 Jun 2024
Contributed by Lukas
S2 E3 India's corporate bond market could boom just like the stock market. In this week's episode of Building Blocks of the Indian Economy, we find ou...
Who controls the Indian stock market?
18 Jun 2024
Contributed by Lukas
S2 E2 The Indian stock market is highly globalised, sucking in money from near and far. In this week's episode of Building Blocks of the Indian Econom...
India's invisible stock market scam
11 Jun 2024
Contributed by Lukas
S2 E1 India leads the world in the number of IPOs, Initial Public Offerings on the stock markets. All is well on Day 1 of trading, but if you check ba...
Make in India goes Back to the Future.
13 Feb 2024
Contributed by Lukas
S1 E36 The Government of India's Make in India campaign has now become Atmanirbhar Bharat. In this closing episode of Season 1 of Building Blocks of t...
Indian exporters, need imports.
06 Feb 2024
Contributed by Lukas
S1 E35 India has aspired to become an exporter of machinery since the 1960s. The only thing holding it back has been its import policy. In this week's...
Are Indian manufacturers big enough to succeed?
30 Jan 2024
Contributed by Lukas
S1 E34 The Indian capital goods industry is dominated by small scale manufacturing and held back by weird Government of India trade policies. It has b...
India makes cheap steel, very expensive.
23 Jan 2024
Contributed by Lukas
S1 E33 Indian steel makers are among the most efficient in the world. But their steel becomes strangely expensive once it leaves the factory. In this ...
Foreigners have found out about Indian healthcare.
16 Jan 2024
Contributed by Lukas
S1 E32 Prior to the pandemic close to 700,000 medical tourists came to India. In this week's episode of Building Blocks of the Indian Economy we look ...
How many more doctors does India need?
09 Jan 2024
Contributed by Lukas
S1 E31 Headlines often proclaim the massive shortage of doctors in India. In this week's episode of Building Blocks of the Indian Economy we find out ...
How free is free healthcare in India?
02 Jan 2024
Contributed by Lukas
S1 E30 Narendra Modi's Ayushman Bharat health initiative is designed to provide cashless healthcare to India's poor. In this week's episode of Buildin...
Foreign funds are buying Indian hospitals.
26 Dec 2023
Contributed by Lukas
S1 E29 1 in 10 rupees invested by private equity funds in India is in the healthcare sector. In this week's episode of Building Blocks of the Indian E...
The Global Trade in Indian Students.
19 Dec 2023
Contributed by Lukas
S1 E28 Record numbers of Indian students are studying abroad each year. In this week's episode of Building Blocks of the Indian Economy we look at the...
Does anyone remember Skill India?
12 Dec 2023
Contributed by Lukas
S1 E27 Both the BJP and the Congress agree that skilling young Indians is a good idea. Both shared more or less the same approach. In this week's epis...
Is a teacher a chicken or an egg?
05 Dec 2023
Contributed by Lukas
S1 E26 Teachers are both producers of education and the products of education. In this week's episode of Building Blocks of the Indian Economy we look...
Should India spend more on education?
28 Nov 2023
Contributed by Lukas
S1 E25 This may sound like a stupid question! Given India's historically low levels of investment in education, it might seem obvious that the governm...
The Future has Arrived, at the Bandra-Kurla Complex.
14 Nov 2023
Contributed by Lukas
S1 E24 In this week's episode of Building Blocks of the Indian Economy we look at the movement of India's financial hub from Mumbai's Nariman Point to...
Is Muscle Power required to provide Housing for All?
07 Nov 2023
Contributed by Lukas
S1 E23 This week's episode of Building Blocks of the Indian Economy explores the curious case of vacant houses, at a time when so many are without dec...
India needs more housing, so why are houses empty?
31 Oct 2023
Contributed by Lukas
S1 E22 India needs millions of new houses, but so many houses coming onto the market remain unsold. In this week's episode of Building Blocks of the I...
Land Acquisition, by hook and by crook!
17 Oct 2023
Contributed by Lukas
S1 E21 Behind the glamourous billboards advertising luxury property developments, there is a slow and steady process of land acquisition. In this week...
Can India clothe the world?
10 Oct 2023
Contributed by Lukas
S1 E20 India has a sizeable garment export industry, but not nearly as big as China, Vietnam, or even Bangladesh. In this week's episode of Building B...
Should India embrace Fast Fashion?
03 Oct 2023
Contributed by Lukas
S1 E19 Global brands like H&M and Zara have brought Fast Fashion to India, traditionally a country that likes its fashion nice and slow. In this w...
A future for the Indian textile industry.
26 Sep 2023
Contributed by Lukas
S1 E18 The Indian textile industry seems trapped in the 1950s. In this week's episode of Building Blocks of the Indian Economy we look at how it can b...
Cotton, the White Gold of India?
19 Sep 2023
Contributed by Lukas
S1 E17 In this week's episode of Building Blocks of the Indian Economy, we look at how India grows the fibre to clothe its people. Historically India ...
Does India really export beef and import daal?
12 Sep 2023
Contributed by Lukas
S1 E16 In this week's episode of Building Blocks of the Indian Economy we examine India's international trade in food. India has become a net exporter...
Should India feed the world or feed itself?
05 Sep 2023
Contributed by Lukas
S1 E15 In this week's episode of Building Blocks of the Indian Economy, we discover how India's consumption of food has been changing with rising leve...
Should India celebrate bumper wheat and rice harvests?
29 Aug 2023
Contributed by Lukas
S1 E14 In the 1960s India was unable to produce enough wheat and rice to feed its people. Today India exports both. Is this a success story? Or are we...
India has a water crisis, but no shortage of water.
15 Aug 2023
Contributed by Lukas
S1 E13 Do not be alarmed, India has enough water. The problem is that so much of it is wasted. In this week's episode of Building Blocks of the Indian...
Can Vande Bharat trains be made in India, for the world?
08 Aug 2023
Contributed by Lukas
S1 E12 We generally think of the Indian Railways as a Government of India enterprise. But in this week's episode of Building Blocks of the Indian Econ...
India needs a bigger merchant navy.
01 Aug 2023
Contributed by Lukas
S1 E11 In this week's episode of Building Blocks of the Indian Economy, we look at the shipping industry in India. India needs a huge merchant navy to...
How Indigo became India's most profitable airline.
18 Jul 2023
Contributed by Lukas
S1 E10 In this week's podcast, Building Blocks of the Indian Economy, we look at some of the fascinating economics at the heart of aviation in India -...
Will electric vehicles help or hinder the Indian economy?
11 Jul 2023
Contributed by Lukas
S1 E9 In this week's episode of Building Blocks of the Indian Economy, we examine the prospects of electric vehicles, EVs in India. Are electric vehic...
Can the Indian Railways get Fast and Furious?
04 Jul 2023
Contributed by Lukas
S1 E8 In this week's episode of Building Blocks of the Indian Economy, we ride the Great Indian Railways. The Indian Railways is woven into the fabric...
Do India's highways have enough traffic?
27 Jun 2023
Contributed by Lukas
S1 E7 In this episode of Building Blocks of the Indian Economy, we look at the Modi Government's push to develop India's highway infrastructure- the B...
The Adani group takes an interest in Indian airports.
20 Jun 2023
Contributed by Lukas
S1 E6 In this week's episode of Building Blocks of the Indian Economy we examine India's airports infrastructure. The Adani group made a dramatic entr...
Does India's ports infrastructure go deep enough?
13 Jun 2023
Contributed by Lukas
S1 E5 In this week's episode of Building Blocks of the Indian Economy we analyse the economics of India's ports system. Much progress has been made - ...
The tantalising economics of solar energy.
06 Jun 2023
Contributed by Lukas
S1 E4 In this episode of Building Blocks of the Indian Economy we explore the surge in renewable energy- wind and solar power in India over the past d...
Will India become a Gas Based Economy?
30 May 2023
Contributed by Lukas
S1 E3 In this episode of Building Blocks of the Indian Economy we explore the economic fundamentals behind the government's goal of transforming India...
We are driving on (foreign) oil.
23 May 2023
Contributed by Lukas
S1 E2 Oil, mainly foreign oil, keeps the Indian economy moving. In this episode of Building Blocks of the Indian Economy we explore India's chronic de...
Switching on a light? You are switching on coal!
16 May 2023
Contributed by Lukas
S1 E1 In the first episode of Building Blocks of the Indian Economy we look at the most basic of these building blocks- coal. Why it is an economist's...