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(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 …
Rethinking work, home and office
28/07/2020
When the pandemic subsides, some of the old ways will return, but a significant change in the organisation of work is likely to remain. Real estate faces important shifts. In this article, we speculate about how this might pan out. Interaction-intensive consumer-facing services will demand less real estate. The …
A sophisticated economy is one in which business relationships are defined by formal legal contracts. When extreme events -- such as Covid-19 -- impact upon such an economy, there is a greater disruption. In India, a large part of the economy is held aloft by family relationships or friendship, …