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19/06/2019
Hunting the Heffalump
Rathin Roy and Amey Sapre
The analytics used by Arvind Subramanian to argue over-estimation of GDP is flawed on a number of counts
Arvind Subramanian (AS) has written a working paper in which he argues that “actual GDP growth” may have been 4.5 per ...
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Some medium-term fiscal arithmetic
07/06/2019
A medium-term macro-fiscal exercise will make clear the analytical choices and trade-offs that the government faces.
There is little doubt that the central government is constrained for fiscal space and it is, therefore, important to think about solutions going forward. I offer a medium-term macro-fiscal exercise that makes clear ...
Challenges to Indian Fiscal Federalism
03/05/2019
Countries are organized either as “Unitary ” (France) or as “Federations” (India, Brazil, the United States). In the first group, a national, or a central, government, makes the economic decisions for the whole country’s territory. In the second group, a Constitution has generally assigned various government’s economic functions between the ...
A common economic programme for India
03/05/2019
The economic programme of any party or coalition that is serious about transforming India must be underpinned by four economic objectives.
A development transformation involves progress on many fronts, but there can be no transformation without high, stable, and inclusive economic growth. The economic programme of any party or ...