An autonomous research institute under the Ministry of Finance


A Way Out For The Bank


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(Co-authored with D Priyadarshini)
Recent news reports suggest the upcoming budget may include proposals for a Bank Investment Company (BIC) anchoring the government’s shareholding in its banks. With a predominantly bank-led growth strategy, banks face the daunting task of managing the pandemic’s impact on their balance sheets while spearheading ...

A Shadow Pandemic: Growing VAW is one of the greatest human rights violations


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Violence against women (VAW) is now acknowledged as a global problem with substantial macroeconomic costs. This is a “shadow pandemic”. Prior to the global contagion of Covid-19, the global cost of VAW had been estimated at approximately $1.5 trillion.
Growing VAW is one of the greatest human rights ...

The Cyber Tax Conundrum


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Taxation of digital companies has been a key concern for G20 countries. The agenda to reform international tax law so that digital companies are taxed where economic activities are carried out was formally framed within the OECD’s base erosion and profit shifting programme. Seven years since its inception, it is ...

Ecological Fiscal Transfers after Covid19


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(Co-authored with Amandeep Kaur and Divy Rangan)
Climate change commitments require long term fiscal policy instruments, such as climate responsive budgeting and ecological fiscal transfers . In India we have Climate Action Plans at national and subnational government levels. However, a roadmap towards comprehensive climate responsive budgeting as a PFM ...

Why Output Gap is controversial


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(Co-authored with Amandeep Kaur)


The macroeconomic uncertainty in times of COVID-19 pandemic is hard to measure. Economists and policymakers use the variable “output gap” to capture the “slack”. It is a deviation between potential output and actual output, which is a standard representation of a “cycle”. The potential output ...