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More »Monetary policy in the pandemic
24/08/2020
There is a great deal of concern about the path of monetary policy, given that headline inflation has breached the required range, from 2 to 6 per cent CPI inflation, in 7 of the latest 8 months. The inflation data, however, reveals a surge in prices in April 2020, which ...
Do stamp duties affect transaction volumes? A study of real estate transactions in Mumbai
20/08/2020
The real estate market in India has many factors that cause price inefficiencies. The outcome is that investors will stay away from real estate markets as long as these inefficiencies exist. So how can market efficiency and thereby participation be increased? The Coasian answer is that a market will yield ...
In fields like education and health care, there is a tension between government as producer versus government as regulator versus government as a funder. The New Education Policy makes a beginning in proposing a separation between these `pillars of intervention'. A lot of mainstream knowledge in the field of state ...
Ideas of India: Libertarianism by Necessity
10/08/2020
Shruti Rajagopalan talks to Ajay Shah about when a market failure justifies state intervention
It is not too late, but it soon will be
10/08/2020
This is the last column I will be writing as director of the National Institute of Public Finance and Policy. I will focus on the gravity of India’s fiscal situation, which I have been pointing out since 2016. The fragility of central government finances is partly legacy, part refusal to ...