An autonomous research institute under the Ministry of Finance

 

The Economics of Government: Key Issues that Budget 2019 must tackle

05/07/2019

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The prime focus of Union budget 2019 would be the need to strengthen economic growth. A deviation from the path of fiscal consolidation may be essential to spur growth. A strict adherence of threshold fiscal deficit ratio of the GDP may not be feasible at this point as more public ...

Hunting the Heffalump

19/06/2019

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Hunting the Heffalump
Rathin Roy and Amey Sapre
 
The analytics used by Arvind Subramanian to argue over-estimation of GDP is flawed on a number of counts
 
Arvind Subramanian (AS) has written a working paper  in which he argues that “actual GDP growth” may have been 4.5 per ...


Some medium-term fiscal arithmetic

07/06/2019

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A medium-term macro-fiscal exercise will make clear the analytical choices and trade-offs that the government faces.

 

There is little doubt that the central government is constrained for fiscal space and it is, therefore, important to think about solutions going forward. I offer a medium-term macro-fiscal exercise that makes clear ...


Challenges to Indian Fiscal Federalism

03/05/2019

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Countries are organized either as “Unitary ” (France) or as “Federations” (India, Brazil, the United States). In the first group, a national, or a central, government, makes the economic decisions for the whole country’s territory. In the second group, a Constitution has generally assigned various government’s economic functions between the ...