An autonomous research institute under the Ministry of Finance

 

The Political Economy of Justice

05/04/2019

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The second theorem of welfare economics posits that any desired income distribution can be achieved when an economy is at full potential by taxing those who earn more than society wishes and transferring these to those who earn less. I have previously argued that universal basic income proposals essentially genuflect ...

A tale of two disenchantments

05/04/2019

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Twenty five years ago, I argued in my doctoral thesis that fiscal policy could be used to map changes in state objectives. In essence that is what I am doing in this column. I contend that the Indian State, at both the central and state levels, is transitioning from being ...

Sharp fall in female labour force participation rate is not new, but is critical

05/04/2019

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(Coauthored with Namita Jain)
 
Fewer women working is a big problem but if DeMo is cited as the reason for this, how do you explain an equally sharp fall in FLFPR over long periods in the past?
 
The media attention has been focused, over the last few weeks ...

Govt's shrinking fiscal space

05/04/2019

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Election year should be a time when we seriously reflect on the medium term structure of fiscal policy. But election year also involves an interim budget which, by definition, should not take up much analytical space. But unfortunately, it does, distracting attention from medium term fiscal issues. 
 
There ...

Sustainable growth challenge: Dynamics of the Indian growth story

05/04/2019

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Gender gaps in labour force participation rates in India affect the “potential output” and also harm the inclusiveness of the growth process.
 
IMF’s World Economy Outlook recently reported that India’s real GDP growth forecast for FY19 remains at 7.3% while it is relatively higher at 7.5% for ...