With the onset of a ‘once in a century’ shock like the Covid-19 pandemic, India suffered the deepest contraction in the world. As the economy started recovering from the pandemic with the support of conventional and unconventional fiscal and monetary policy measures, the outbreak of war in Ukraine up-ended the situation. It has altered the trajectory of the world economy drastically. International commodity prices, especially the price of crude oil, shot up significantly. Globally and domestically, the supply chain pressure built up, leading to input cost escalation and mounting pressure on Consumer Price Index (CPI) inflation. Against this backdrop of a rapidly changing macroeconomic environment, we examine if the inflation dynamics have changed its course. Using the New Keynesian framework, we investigate whether the attributes of the inflation process, like nominal friction, indexation to past inflation and the long run level of inflation have undergone a structural shift; and if so, what are the possible macroeconomic consequences of the same. At the outset, we compare the empirical regularities in the price data of our CPI basket between pre- and post-pandemic periods. Next, we explore the 

potential outcomes of the stylized facts using a prototype DSGE model with relevant illustrations.

The research explores the linkages between social spending and macroeconomic outcomes through a structural macroeconomic model of the Indian economy. The basic model is in Keynes-Kalecki tradition with some of the structural features of the Indian economy added. Public spending on the social sector is a crucial link connecting growth to human development. Human development has a feedback effect on growth. 

The study attempts to analyse the role of public expenditure and quality of governance in explaining the divergence of Sustainable Development Goals (SDGs) achievement across districts, which has important implications for policy prescriptions. 

The evolution of gender budgeting in India has been marked by significant milestones and challenges. India formally adopted a Gender Budgeting policy in 2005-06, introducing the Gender Budget Statement (GBS) to track gender-sensitive allocations. The status of gender budgeting in India reflects continuous progress and institutionalization. As a first step towards assessing gender budgeting in the Indian context, this study develops an analytical approach to evaluate the effectiveness of government schemes from a gendered lens.