(co-author with Amarnath HK)

The latest RBI Report on the “Finances of Panchayati Raj Institutions 2020-21 to 2022-23” sheds some light on the powers and functional responsibilities of the most localized level of governance, i.e., Panchayati Raj Institutions (PRIs) and addresses a critical gap in their revenue needs. A study …

(co-authored with Chetan Rao)

Bilateral Investment Treaties (BITs) evolved as important legal instruments for capital-exporting countries to ensure legal stability for their investments. In a world where there was once a clear division between capital exporters and importers, the objectives of investment protection and promotion served both sides. Over time, …

(Co-authored with Sri Hari Nayudu A.)

India’s federal structure is under stress on several grounds, particularly tax devolution between Centre and states, and among states. Finance Commissions play a critical role in the devolution process. However, a drawback in their approach has been the absence of an adequate level of …

The Union Budget 2025-26 aims to balance fiscal consolidation, growth, climate change commitments, and the challenges of demographic transition. Key focuses include green bonds, climate fiscal instruments, boosting female labour force participation, and addressing the care economy and digital infrastructure needs.

The Union Budget 2025-26, in the context of macroeconomic …