An autonomous research institute under the Ministry of Finance

 

Why India needs a Fiscal Council

07/06/2022

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(Co-authored with Emmanuel Thomas)
 
"Fiscal transparency and accountability need to be ensured to create room for market confidence in a high public debt regime. Constituting a Fiscal Council in India is therefore crucial at this juncture to analyse the fiscal risks and to formulate post-pandemic fiscal strategies to ...

Brace yourself for higher interest rates

23/05/2022

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Data released by the National Statistical Office showed that retail inflation had surged to an eight-year high of 7.79 per cent in April driven by higher food and fuel prices. The former rose to 8.38 per cent driven by double-digit inflation in edible oils and vegetables, while inflation ...

On inflation, the government and the RBI are walking a tight rope

20/05/2022

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(Co-authored with Emmanuel Thomas)
 
“Fiscal and monetary policy coordination is crucial to sustain the economic recovery. The fact that the wholesale price index (WPI) inflation rate was continuing at two-digit numbers for a year and the CPI has remained above the upper band of 6% for three consecutive months ...

The Digital Tax Challenge

28/04/2022

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Over the past four years 137 countries have engaged intensively with the OECD to find a solution to the tax challenges arising from digitalisation.  Like any international agreement, finding  a middle ground has been difficult and  series of compromises were made.  It was agreed intially the unique features ...

RBI is right to prioritise inflation management. But it won’t be easy

22/04/2022

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The first bi-monthly meeting of the RBI's Monetary Policy Committee (MPC) for the current financial year reaffirmed its focus on inflation management. While the MPC voted to keep the policy rate unchanged at 4 percent and retained its accommodative stance, the wording was changed to ...."remain accommodative while focusing on ...