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More »Do stamp duties affect transaction volumes? A study of real estate transactions in Mumbai
20/08/2020
The real estate market in India has many factors that cause price inefficiencies. The outcome is that investors will stay away from real estate markets as long as these inefficiencies exist. So how can market efficiency and thereby participation be increased? The Coasian answer is that a market will …
(Co-authored with Harsh Vardhan)
The banking sector is the most important financial intermediary in India’s debt market. Over the last few years the bond market has emerged as an alternative to the banking sector especially for the top rated firms. This trend has been pronounced ever …
(Co-authored with Lekha Chakraborty)
Extraordinary times require extraordinary policy responses.
This blog explores the efficacy of ‘child budgeting’ in public financial management (PFM) to deal with the COVID-19 pandemic. We argue that this should be an essential component of government fiscal responses. Globally …
Re-imagining MSME lending
14/07/2020
(Co-authored with Amrita Pillai)
The government’s initiatives under the stimulus package have been geared towards helping Indian MSMEs maintain liquidity and ensuring greater credit availability. The emergency credit line, subordinate debt provision and the equity infusion measure, apart from the long-awaited reform to the MSME definition, …