In contemporary federalism, fiscal behaviour of States has not been predominantly determined by the patterns of intergovernmental fiscal transfers. The recent central government policies and reforms in India are also influencing debt-deficit dynamics at the subnational level. With the introduction of UDAY¹, this dimension has reached an added significance ...

[Co-author: Rajeswari Sengupta]

On 4 May, the President promulgated the Banking Regulation (Amendment) Ordinance, 2017. This adds sections 35AA and 35AB to the Banking Regulation Act, 1949 ("BRA").

[Co-authors: Gausia Shaikh and Bhargavi Zaveri]

[Co-authored with Ajay Shah and Avirup Bose]

The world of high technology companies is seen as a dynamic area with a rapid pace of creative destruction. There is, however, a class of industries where there are strong network effects, where the market tends to collapse into a narrow set of ...