An autonomous research institute under the Ministry of Finance

 

Leave No One Behind: The philosophy underpinning the Interim Budget

06/05/2024

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The Finance Minister has articulated her budget as a “humane” budget with fiscal consolidation as a primary consideration. A “beyond GDP” emphasis is welcome, incorporating the widening inequalities, climate change concerns and human capital formation.
 
Beyond the headline fiscal deficit number to GDP ratio pegged at 5.1 percent ...

Union Budget 2024: Amid global headwinds, there is no room for irrational expectation

06/05/2024

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The fiscal deficit target for FY25 in the midst of weaker nominal GDP growth and disinvestment shortfall will be below 6 percent, slightly around 5.2-5.5 percent. This fiscal glide path is crucial to reach the 4.5 percent fiscal deficit to GDP by 2025-26 .
 
Against the backdrop ...

The Finance Commission and public finance in Kerala

02/04/2024

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(Co-authored with Balamuraly B.)
 
Asymmetric fiscal rules require wider discussion and debate, as Kerala has highlighted
 
Public debt management is getting wider attention in Centre-State financial relations, against the backdrop of recently constituted Sixteenth Union Finance Commission. One of the States in India, Kerala, had filed a suit ...

Union Budget 2024: Amid global headwinds, there is no room for irrational expectations

24/01/2024

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The fiscal deficit target for FY25 in the midst of weaker nominal GDP growth and disinvestment shortfall will be below 6 percent, slightly around 5.2-5.5 percent. This fiscal glide path is crucial to reach the 4.5 percent fiscal deficit to GDP by 2025-26.
 
Against the backdrop ...

MPC Meeting: Amid too many risks, status quo in policy rates is welcome

12/12/2023

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The combined fiscal-monetary risks and climate change related risks can trigger an irreversible threat to the global economy. Against this backdrop, the RBI Governor has judiciously conducted his policy rate manoeuvring, with majority votes for the decision of status quo in policy rates. This RBI decision is welcome, despite all ...