An autonomous research institute under the Ministry of Finance


State finances: Why is Kerala different?


NIPFP blog author image
Identifying innovative sources of financing the deficit is significant to maintain the high human development achievements of the state and also the growth-inducing capital infrastructure formation in Kerala.
Recent reports from RBI and Niti Aayog highlight the remarkable achievements of Kerala in education, health and nutrition; and the significant ...

Modi Govt Needs To Focus On 5 Things To Fix Economic Slowdown: PM’s Former Advisor


The Narendra Modi government has been facing criticism from most quarters over its handling of the economy, especially after the latest numbers showed that the official GDP growth rate for the July-September quarter has slumped to a six-year low of about 4.5%.
While the government has said that ...

Rathin Roy interview: ‘Indian economy needs antibiotics, not painkillers’


The former member of the Prime Minister’s Economic Advisory Council says a stimulus package without reforms will only achieve ‘stagflation’.
Official estimates from last week show that India’s Gross Domestic Product growth has slowed from 7% in just four quarters to 4.5%. On Thursday, the Reserve Bank of ...

Demand, supply and growth slowdowns


For India to complete its development transformation, a switch to a broad-based and more inclusive composition of domestic demand is of the first importance
There is an ongoing debate about whether the current slowdown reflects a demand- or supply-constrained economy. Analytically, this question is pertinent when a slowdown is ...

Minimum Wage Macroeconomics


The government has taken several policy initiatives to address the current economic slowdown. These important and necessary measures to ameliorate the slowdown have addressed 1) sentiment, 2) the credit pipeline, 3) policy misinterpretations and 4) sector specific issues.  However, if, as I have been arguing, the roots of the ...