[Co-authored with Yadawendra Singh]

Globally, a direct employment transfer - a job guarantee programme - is an “employer of last resort” fiscal policy, which envisions the government bearing a guarantee to provide paid work opportunities of predictable duration at a predetermined wage for public …

In contemporary federalism, fiscal behaviour of States has not been predominantly determined by the patterns of intergovernmental fiscal transfers. The recent central government policies and reforms in India are also influencing debt-deficit dynamics at the subnational level. With the introduction of UDAY¹, this dimension has reached …

The United States Federal Reserve’s (US Fed) decision to raise interest rates by 25 basis points could have a significant impact on global economic growth. The Fed has decided to go “hawkish” this quarter and Fed Chief Janet Yellen’s commentary on future rates hikes has led to negative reaction …

The demonetisation of 500 and 1000 rupee notes was announced by the Prime Minister on November 8, 2016; since then, there has been a growing interest in understanding fiscal-monetary policy linkages. This article revisits these compelling policy linkages. Increasingly, there is an alarming tendency of segregating the monetary and …