DasNomics

Description

DasNomics: Shaktikanta Das and the Economics of Resilience is an in-depth exploration of the transformative economic policies and leadership of Shaktikanta Das, the 25th Governor of the Reserve Bank of India (RBI). This book meticulously examines how Das, a seasoned policymaker, steered the Indian economy through some of the most challenging global crises—including the COVID-19 pandemic, the Russia-Ukraine conflict, global monetary tightening, and inflationary shocks—while ensuring macroeconomic stability, financial inclusion, and sustained growth.
Through a rigorous macroeconomic analysis, DasNomics presents a structured evaluation of key policy decisions that shaped India’s economic trajectory. The book delves into critical themes, such as:
• Exchange Rate Management and Foreign Exchange Reserves: How Das ensured rupee stability and maintained reserves exceeding $600 billion, shielding India from external shocks.
• Monetary Policy and Inflation Targeting: Analyzing the RBI’s strategic rate adjustments and liquidity measures that kept inflation within manageable limits while supporting economic recovery.
• Trade and Global Integration: The role of rupee-based trade settlements, foreign direct investment (FDI) liberalization, and participation in global value chains (GVCs) to strengthen India’s external sector.
• Digital Financial Infrastructure: How RBI under Das pioneered UPI expansion, Central Bank Digital Currency (CBDC), fintech regulation, and digital banking frameworks to drive financial inclusion.
• Rescue and Reform of MSMEs and Banking Sector Stability: Examining the Emergency Credit Line Guarantee Scheme (ECLGS) and RBI’s stress-testing frameworks that fortified India’s financial institutions.
• Gold as a Strategic Asset: The evolution of sovereign gold reserves, gold-backed bonds, and digital gold as tools for economic resilience.
With a strong foundation in macroeconomic models and principles, DasNomics contextualizes these policies within frameworks such as the Impossible Trinity, Mundell-Fleming Model, Financial Accelerator Theory, and Portfolio Balance Approach. The book provides empirical evidence, policy insights, and comparative global perspectives, positioning Das’s economic vision within the broader scope of central banking and monetary governance.