An autonomous research institute under the Ministry of Finance


Nudge towards formalisation


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(Co-authored with Amrita Pillai)
Registering MSMEs could help them access formal credit channels
The costs of formalisation and compliance are high and onerous in many states in India. In such an ecosystem, there are perverse incentives to remaining small and informal.
A new process of classification and ...

In the interest of Indian banks and borrowers


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(Co-authored with Radhika Pandey)
India’s economy contracted by 23.9 per cent in the second quarter of 2020 as the COVID-19 pandemic severely hampered economic activity. To support growth, the Reserve Bank of India (RBI) has cut official interest rates by 115 basis points in 2020. A slew of ...

Gender Budgeting in Multi-level Governance


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(Co-authored with Veena Nayyar and Komal Jain)
Gender budgeting is an approach that uses fiscal policy to promote gender equality by trying to translate gender commitments into fiscal commitments through processes, resources and institutional mechanisms. In a multi-level governance structure, the political economy of gender budgeting encompassed both the ...

Time to end gender based discrimination in the Hindu Succession Act, even in the matters of devolution


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In its recent judgment, the Supreme Court ruled that a daughter has the same rights as a son in an ancestral property under the Hindu Succession (Amendment) Act, 2005, regardless of when the father may have died. The principle law - the Hindu Succession Act, 1956 (HSA) - originally did not grant ...

Covid-19: Assessing fiscal position of government in first quarter of 2020-21


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(Co-authored with Medha Raju) 
In this post, the authors analyse the trends in the revenue, expenditure, and borrowings of the central government in the first quarter of 2020-21, based on the data released by the Controller General of Accounts. They argue that the contraction in revenues in the ...