Publications

Journal articles

• Dasgupta, Z. (2025). Interest rate and endogenous money under capital mobility and fixed exchange rate: alternative closures and implications. Review of Keynesian Economics, 13, 71 – 93. https://​doi​.org/​1​0​.​4​3​3​7​/​r​o​k​e​.​2​0​2​5​.​01.04
• Chowdhury, I., & Dasgupta, Z. (2023). Monetary Policy in the midst of cost-push inflation. Economic and Political Weekly, 58(22). https://​www​.epw​.in/​j​o​u​r​n​a​l​/​2​0​2​3​/​2​2​/​m​o​n​e​y​-​b​a​n​k​i​n​g​-​a​n​d​-​f​i​n​a​n​c​e​/​m​o​n​e​t​a​r​y​-​p​o​l​i​c​y​-​m​i​d​s​t​-​c​o​s​t​-​p​u​s​h​-​i​n​f​l​a​t​i​o​n​.html
• Dasgupta, Z. (2022). Investment function and the role of export: The case of India’s manufacturing sector. Structural Change and Economic Dynamics, 63, 79 – 90. https://​doi​.org/​1​0​.​1​0​1​6​/​j​.​s​t​r​u​e​c​o​.​2​0​2​2​.​0​9.004
• Dasgupta, Z. (2022). Income distribution and aggregate demand in the Indian Economy. Economic and Political Weekly, 57(7). https://​www​.epw​.in/​j​o​u​r​n​a​l​/​2​0​2​2​/​7​/​s​p​e​c​i​a​l​-​a​r​t​i​c​l​e​s​/​i​n​c​o​m​e​-​d​i​s​t​r​i​b​u​t​i​o​n​-​a​n​d​-​a​g​g​r​e​g​a​t​e​-​d​e​m​a​n​d​-​i​n​d​i​a​n​.html
• Dasgupta, Z. (2020). Economic slowdown and financial fragility: The structural malaise of India’s growth process. Economic and Political Weekly, 55(13), 46 – 53. https://​www​.epw​.in/​j​o​u​r​n​a​l​/​2​0​2​0​/​1​3​/​m​o​n​e​y​-​b​a​n​k​i​n​g​-​a​n​d​-​f​i​n​a​n​c​e​/​e​c​o​n​o​m​i​c​-​s​l​o​w​d​o​w​n​-​a​n​d​-​f​i​n​a​n​c​i​a​l​-​f​r​a​g​i​l​i​t​y​.html
• Sen, S., & Dasgupta, Z. (2018). Financialisation and corporate investments: The Indian Case. Review of Keynesian Economics, 6(1), 96 – 113. https://​doi​.org/​1​0​.​4​3​3​7​/​r​o​k​e​.​2​0​1​8​.​01.06
• Azad, R., Bose, P., & Dasgupta, Z. (2017). Riskless Capitalism’ in India: Bank Credit and Economic Activity. Economic & Political Weekly, 52(31). https://www.epw.in/journal/2017/31/review-issues/%E2%80%98riskless-capitalism%E2%80%99-india.html
• Chowdhury, S., & Dasgupta, Z. (2015). Growth, imports and inequality: Explaining the persistently high trade deficit in India. Economic & Political Weekly, 50(48). https://​www​.epw​.in/​j​o​u​r​n​a​l​/​2​0​1​5​/​4​8​/​s​p​e​c​i​a​l​-​a​r​t​i​c​l​e​s​/​g​r​o​w​t​h​-​i​m​p​o​r​t​s​-​a​n​d​-​i​n​e​q​u​a​l​i​t​y​.html
• Sen, S., & Dasgupta, Z. (2014). Economic Policy in India: For economic stimulus or for volatility and austerity?, PSL Quarterly Review, 67(271). https://​doi​.org/​1​0​.​1​3​1​3​3​/2037 – ³⁶⁴³⁄₁₃₀₂₃
• Dasgupta, Z. (2012). Development expenditures of the states in the post-liberalisation period. Economic and Political Weekly, 47(34). https://​www​.epw​.in/​j​o​u​r​n​a​l​/​2​0​1​2​/​3​4​/​n​o​t​e​s​/​d​e​v​e​l​o​p​m​e​n​t​-​e​x​p​e​n​d​i​t​u​r​e​s​-​s​t​a​t​e​s​-​p​o​s​t​-​l​i​b​e​r​a​l​i​s​a​t​i​o​n​-​p​e​r​i​o​d​.html
• Chowdhury, S., & Dasgupta, Z. (2012). Fiscal problem in West Bengal.Economic and Political Weekly, 47(13). https://​www​.epw​.in/​j​o​u​r​n​a​l​/​2​0​1​2​/​1​3​/​s​p​e​c​i​a​l​-​a​r​t​i​c​l​e​s​/​f​i​s​c​a​l​-​p​r​o​b​l​e​m​-​w​e​s​t​-​b​e​n​g​a​l​.html
• Chakraborty, S., & Dasgupta, Z. (2010). The challenges before NABARD in the midst of RBI’s sterilisation policy. Economic & Political Weekly, 45(31). https://​www​.epw​.in/​j​o​u​r​n​a​l​/​2​0​1​0​/​3​1​/​s​p​e​c​i​a​l​-​a​r​t​i​c​l​e​s​/​c​h​a​l​l​e​n​g​e​s​-​n​a​b​a​r​d​-​m​i​d​s​t​-​r​b​i​s​-​s​t​e​r​i​l​i​s​a​t​i​o​n​-​p​o​l​i​c​y​.html

Chapters in edited books

• Dasgupta, Z. (2025). Does Inequality Augment Employment Growth? Revisiting Marx, Kalecki and Kaldor in the Indian Context. In Gupta, S. D., Chakraborty, S., & Banerjee, T. (Eds.). (2025). Contradictions of Democracy, Development and Inequality: A Case of India. Taylor & Francis.
• Dasgupta, Z. (2025). Growth and Distribution in the Indian Economy During the Post-Liberalisation Period: A Short Note on the Structural Factors. In Roy, S (ed). (2025). State of India’s Economy: Fastest Growth with Worrisome Symptoms. Aakar Books.
• Chowdhury, S. and Dasgupta, Z. (2025). Industrial Impasse in West Bengal: Towards an Explanation. In Chakraborty, I and High, S (ed). 2025. Deindustrialization and Economic Restructuring in Post-Reform India. Aakar Books. Taylor & Francis.
• Dasgupta, Z. (2021). The dynamics of global demand, investment and trade deficit in India: A model of India’s external dependence. In B. Dasgupta, A. Ghosh, & B. Ghosh (Eds.), Neoliberal Economic Reform in Emerging Economy of India — International Trade, Investment and Finance. Routledge.
• Bose, P., & Dasgupta, Z. (2019). Breaking Bad: India’s banking distress. In R. Azad, S. Chakraborty, S. Ramani, & D. Sinha (Eds.), Quantum Leap in Wrong Direction? Orient Blackswan.

Report

• Azim Premji University. (2021). State of Working India 2021: One year of Covid-19. Centre for Sustainable Employment, Azim Premji University. https://​cse​.azim​premji​u​ni​ver​si​ty​.edu​.in/​w​p​-​c​o​n​t​e​n​t​/​u​p​l​o​a​d​s​/​2​0​2​1​/​0​6​/​S​W​I​2​0​2​1​_​F​u​l​l​R​e​p​o​r​t​_​1​J​u​n​e.pdf

Book reviews

• Dasgupta, Z. (2022). Understanding Globalisation through the lens of contesting narratives. [Review of the Book Six Faces of Globalization: Who Wins, Who Loses, and Why It Matters, by A. Roberts, N. Lamp]. Economic and Political Weekly, 57(41). https://​www​.epw​.in/​j​o​u​r​n​a​l​/​2​0​2​2​/​4​1​/​b​o​o​k​-​r​e​v​i​e​w​s​/​u​n​d​e​r​s​t​a​n​d​i​n​g​-​g​l​o​b​a​l​i​s​a​t​i​o​n​-​t​h​r​o​u​g​h​-​l​e​n​s​.html
• Dasgupta, Z. (2013). [Review of the Book The Politics of Poverty: Planning India’s Development, by D.K. Rangnekar]. Social Change, 43(4). https://​doi​.org/​1​0​.​1​1​7​7​/​0​0​4​9​0​8​5​7​1​35026

Newspaper articles

• Dasgupta, Z and Raghavendran, S (April 21, 2024). On the fall in household savings. The Hindu. https://​www​.the​hin​du​.com/​b​u​s​i​n​e​s​s​/​E​c​o​n​o​m​y​/​o​n​-​t​h​e​-​f​a​l​l​-​i​n​-​h​o​u​s​e​h​o​l​d​-​s​a​v​i​n​g​s​/​a​r​t​i​c​l​e​6​8​0​9​2​0​1​7.ece
• Dasgupta, Z and Raghavendran, S (May 23, 2024). Rising debt strains household savings. The Hindu. https://​www​.the​hin​du​.com/​b​u​s​i​n​e​s​s​/​E​c​o​n​o​m​y​/​r​i​s​i​n​g​-​d​e​b​t​-​s​t​r​a​i​n​s​-​h​o​u​s​e​h​o​l​d​-​s​a​v​i​n​g​s​/​a​r​t​i​c​l​e​6​8​2​0​7​4​4​4.ece
• Dasgupta, Z. (January 18, 2025). The impacts of rupee weakening. The Hindu. https://​www​.the​hin​du​.com/​b​u​s​i​n​e​s​s​/​E​c​o​n​o​m​y​/​t​h​e​-​i​m​p​a​c​t​s​-​o​f​-​r​u​p​e​e​-​w​e​a​k​e​n​i​n​g​/​a​r​t​i​c​l​e​6​9​1​0​4​4​3​5.ece
• Dasgupta, Z., & Basole, A. (25 December 2023). India’s jobs crisis, the macroeconomic reasons. The Hindu. https://​www​.the​hin​du​.com/​o​p​i​n​i​o​n​/​l​e​a​d​/​i​n​d​i​a​s​-​j​o​b​s​-​c​r​i​s​i​s​-​t​h​e​-​m​a​c​r​o​e​c​o​n​o​m​i​c​-​r​e​a​s​o​n​s​/​a​r​t​i​c​l​e​6​7​6​7​1​9​2​7.ece
• Dasgupta, Z. (2022, August 09). Why rupee depreciation is bad, not good news. Hindustan Times. https://​www​.hin​dus​tan​times​.com/​i​n​d​i​a​-​n​e​w​s​/​w​h​y​-​r​u​p​e​e​-​d​e​p​r​e​c​i​a​t​i​o​n​-​i​s​-​b​a​d​-​n​o​t​-​g​o​o​d​-​n​e​w​s​-​1​0​1​6​5​9​9​8​1​3​3​5​5​4​9​.html
• Dasgupta, Z. & Menon, K. (2022, February 04).The need to boost labour income and consumption expenditure. The Hindu. https://​www​.the​hin​du​.com/​b​u​s​i​n​e​s​s​/​E​c​o​n​o​m​y​/​t​h​e​-​n​e​e​d​-​t​o​-​b​o​o​s​t​-​l​a​b​o​u​r​-​i​n​c​o​m​e​-​a​n​d​-​c​o​n​s​u​m​p​t​i​o​n​-​e​x​p​e​n​d​i​t​u​r​e​/​a​r​t​i​c​l​e​3​8​3​7​5​0​0​6.ece
• Dasgupta, Z. (2022, January 28). Understanding the formulation of the Budget”, The Hindu. https://​www​.the​hin​du​.com/​b​u​s​i​n​e​s​s​/​E​c​o​n​o​m​y​/​u​n​d​e​r​s​t​a​n​d​i​n​g​-​t​h​e​-​f​o​r​m​u​l​a​t​i​o​n​-​o​f​-​t​h​e​-​b​u​d​g​e​t​/​a​r​t​i​c​l​e​3​8​3​3​8​0​5​4.ece
• Dasgupta, Z. (2022, January 23). The impossible trinity facing Budget 2021 – 22. Hindustan Times. https://​www​.hin​dus​tan​times​.com/​b​u​d​g​e​t​/​t​h​e​-​i​m​p​o​s​s​i​b​l​e​-​t​r​i​n​i​t​y​-​f​a​c​i​n​g​-​b​u​d​g​e​t​-​2​02122 – 101611356762065.html
• Bose, P., & Dasgupta, Z. (2019, January 24). Banking sector not yet out of the woods. Hindu BusinessLine. https://​www​.the​hin​dubusi​nessline​.com/​o​p​i​n​i​o​n​/​b​a​n​k​i​n​g​-​s​e​c​t​o​r​-​n​o​t​-​y​e​t​-​o​u​t​-​o​f​-​t​h​e​-​w​o​o​d​s​/​a​r​t​i​c​l​e​2​6​0​8​2​1​4​8.ece
• Bose, P., & Dasgupta, Z. (2018, October 31). Mélange of factors that pulled rupee down. Hindu BusinessLine. 2018 October 30 https://​www​.the​hin​dubusi​nessline​.com/​o​p​i​n​i​o​n​/​m​e​l​a​n​g​e​-​o​f​-​f​a​c​t​o​r​s​-​t​h​a​t​-​p​u​l​l​e​d​-​r​u​p​e​e​-​d​o​w​n​/​a​r​t​i​c​l​e​2​5​3​7​2​0​9​8.ece
• Sen, S., & Dasgupta, Z. (2014, September 10). What deters investment in India today? The Hindu. https://​www​.the​hin​dubusi​nessline​.com/​o​p​i​n​i​o​n​/​m​e​l​a​n​g​e​-​o​f​-​f​a​c​t​o​r​s​-​t​h​a​t​-​p​u​l​l​e​d​-​r​u​p​e​e​-​d​o​w​n​/​a​r​t​i​c​l​e​2​5​3​7​2​0​9​8.ece

Magazine articles

• Dasgupta, Z. (2021, February 10). A budget that doubly punishes victims of the pandemic. Frontline. https://frontline.thehindu.com/the-nation/a‑budget-that-doubly-punishes-victims-of-the-pandemic/article33775395.ece
• Kesar, S., Dutt, D., Dasgupta, Z. (2019, December 05). Privatising a public good. Frontline. https://​front​line​.the​hin​du​.com/​t​h​e​-​n​a​t​i​o​n​/​a​r​t​i​c​l​e​3​0​1​4​7​1​5​4.ece

Other writings

• Dasgupta, Z. (2020). Monetary policy as a counter-cyclical strategy. Indian Macro Outlook: Quarterly Bulletin on Indian Economy. Azim Premji University.
• Dasgupta, Z. (2020). The twin challenge and India’s macroeconomic response. Indian Macro Outlook: Quarterly Bulletin on Indian Economy. Azim Premji University.