An autonomous research institute under the Ministry of Finance


India's Economic Growth Recovery


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India’s recent economic growth with a 7.2 per cent increase in GDP in the Financial Year 2022-23 has created enthusiastic optimism. The GDP growth trajectory has touched $3.75 trillion. In IMF's economic growth estimations, India is the fastest-growing economy in the world. In the post-pandemic growth strategy, this ...

Rethinking the Rules: Need for a consultative process


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Rethinking fiscal rules has often been a central theme in the debate over cooperative federalismin India. The Centre has recently determined that contingent liabilities or off-budget borrowings will be included in estimating the Net Borrowing Ceiling (NBC)of the states.This has considerably reduced the fiscal space of thestate governments ...

Fiscal space and the size of Government in Kerala


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In the post pandemic fiscal strategy, the Indian States are instructed to maintain a fiscal deficit GDP ratio to 3.5 per cent of GSDP, with 0.5 percent extra borrowing powers tied to mandatory power sector reforms. To meet the challenges related to maintaining a robust growth path through ...