An autonomous research institute under the Ministry of Finance


Lekha Chakraborty


Lekha Chakraborty large photo

Lekha S. Chakraborty is a Professor at NIPFP and elected Member of the Governing Board of Management, International Institute of Public Finance (IIPF) Munich -the world association of public finance economists. 

She is a pioneer economist in institutionalising Gender Budgeting in India, with Chief Economic Advisor, Ministry of Finance, Govt of India in 2004. She is also research affiliate at the Levy Economics Institute of Bard College, New York. Her areas of interest are Macroeconomics of Public Finance, Fiscal Federalism, Extractive sector Economics, Financing Human Development and Gender Budgeting.

She is the recipient of Infoys best PhD thesis award from Indian Institute of Science (IISc) Bangalore.

She is the author of "Fiscal Consolidation, Budget Deficits and Macroeconomy" (Sage Publications). This book has received endorsement reviews from Y V Reddy,  former Governor of Reserve Bank of India; and also from Vito Tanzi, former IMF Executive Director Fiscal Affairs.

She is co-author of the book  "Social Sector in Decentralised Economy: India in the Era of Globalisation" published by Cambridge University Press.

She has worked for the IMF, World Bank, the UNESCAP, the UNDP, the UN Women, and the Commonwealth Secretariat on short stints. Her work experience on macro-fiscal policy and human development spans across 8 countries, Sweden, Canada, Morocco,The Philippiness, South Africa, Sri Lanka, Viet Nam and Mexico; and more frequently  in Asia Pacific region.

She was twice, an awardee of  Shastri Indo-Canada programme, from Department of Foreign Affairs and Trade (DFAIT), Government of Canada. She was visiting Professor at American University (Washington DC),Uppsala University (Sweden) , Carleton University (Canada),  and University of Utah, US. She has papers in national and international journals.

She is a columnist in the Indian Express, The Hindu, Financial Express, Businessline, Business Standard , The Wire, Hindustan Times and Scroll; and featured in CNBC, ANI, DD News, AIR World Air Service and Rajya Sabha. 



Employment and Affiliations

Professor, National Institute of Public Finance and Policy, New Delhi (research institute of Ministry of Finance) and

2017-present. Research Affiliate, Levy Economics Institute of Bard College, New York.

2019. Visiting Professor, Economics, American University, Washington DC, Jan 2019

2018. Visiting Professor, Uppsala University, Sweden, August-September 2018

2011. Visiting Professor, Carleton University, Ottawa, Canada, Summer 2010, DFAIT award

2007 Associate Professor, Centre for Development Studies, Trivandrum (JNU)

2005. Visiting Professor University of Utah, Salt Lake City, USA, IWG-GEM, 2005, Ford Fellow

2003. Visiting Professor, Carleton University, Ottawa, Canada, Summer 2003, DFAIT award



Country level Work experience in Public Finance and Policy

Sweden, Canada, Sri Lanka, Morocco, Mexico, South Africa, The Philippines, Viet Nam, India.






2019. Canadian Faculty Mobility Fellowship, Shastri Indo Canadian Institute & Ministry of Human Resources, Govt of India.

2011. Canadian Faculty Research Fellowship, Dept of Foreign Affairs and International trade (DFAIT), Govt of Canada & SICI.

2004. Ford Foundation, Fellow, University of Utah, Salt Lake City, USA.

2004. Ford Foundation Fellowship for IAFFE, Oxford, UK.

2003. Canadian Faculty Research Fellowship, Dept of Foreign Affairs and International trade (DFAIT), Govt of Canada and SICI.

2002. Review of Economic Studies (RES) Travel Fellowship, UK.

2001. Infosys’ Best Thesis-Paper Award, National Doctoral Consortium, Indian Institute of Science, Bangalore.



Research areas

(1) Macroeconomics of Public Deficits, Fiscal Monetary Policy Linkages, Financial Inclusion - Microfinance. (2) Effectiveness of Public Expenditure. Gender budgeting, Human Development. (3) Fiscal Federalism, Decentralisation (4) Fiscal research on Mining Tax and Competitiveness of Extractive Industries

Current research


1. Intergovernmental fiscal transfers (IGFT) and gender equality (with Janet Stotsky IMF and Piysuh Gandhi Oxford University)



2. Effectiveness of Gender Budgeting on Gender Equality Outcomes and Fiscal Space (with Mariam Ingrams OECD and Y Singh JNU) - invited for American Economic Association (AEA/ASSA) Meetings Atlanta January 2019



3. Macroeconometric aanalysis - Determining Private Corporate Investment in India (analysis using Meboot) (with Hrishikesh Vinod, Fordham University and H Karun IMF) - forthcoming in Handbook of Econometrics Volume 41 (edited by Vinod, H and C R Rao (Elsevier)


4. Macroeconomic Policy for Extractive sector 


5. Fiscal forecast errors: Analysis of State Finances (with Pinaki Chakraborty) , Public Innovation Project


6. Tax Buoyancy : Analysis of State Finances (with Pinaki Chakraborty), , Public Innovation Project


7. Environmental Federalism: Climate Public Expenditure and Institutional Review 

Recent publications

Membership in committees and commissions

  • 2020-present:  Board Member, Governing Board  of International Institute of Public Finance, IIPF Germany.
  • Member, 'Classification of Budgetary Transactions', Chairman :Chief Economic Advisor, Ministry of Finance, Govt of India, 2004
  • Member, 'Segregation of Government Expenditure', Ministry of Finance , Govt of India, 2005
  • Member, Agency and Empowerment, for the 12th Five Year Plan (2012-2017), Planning Commission.
  • Member, Subgroup on “Gender Mainstreaming and Effective Accountability Mechanisms, for the 12th Five Year Plan (2012-2017), Govt. of India, Planning Commission.
  • Life Member, Econometric Society of India.
  • Member, IWG-GEM Macroeconomics, University of Utah.
  • Member, Economists for Full Employment (The Levy Economics Institute of Bard College, New York)

Professional activities


  • Lead, Asia Pacific research on Gender Budgeting for IMF


  • Fiscal policy for gender equality - prepared the Background paper_ Expert Group Meeting (EGM)  for United Nations Secretary General's (UNSG) Highlevel Panel on Women's Economic Empowerment (WEE)

Professional Service (selected)

2023. Expert, UN Women and ILO High level Panel on “Engendering Fiscal Space”, EGM at Istanbul.

2022. Member, COP27 Steering Committee, India’s 1st Adaptation Communication,  Govt of India

2021-22. Member, Governing Board, NIPFP (Ministry of Finance), New Delhi

2020-2023. Member, Board of Management, International Institute of Public Finance (IIPF), Munich.

2019. American Economic Association (to present my selected paper in Atlanta).

2017-. Fulbright Selection Board Member, US Non-STEM Scholars Programme

2017. Editorial Board, Urban Economics journal, NIUA.

2003. Member, Expert Committee on ‘Classification of Budgetary Transactions’ with Chief Economic Advisor, Govt of India

2005. Member, Committee on “Segregation of Expenditure and budgetary classification”, Ministry of Finance, Govt of India.

2000-. Life Member, Econometric Society of India, since 2000.

2003-. Member, International Working Group on Gender & Macroeconomics, University of Utah

2010-2013 & Since 2016. Member, International Institute of Public Finance (IIPF), Munich.

2008-2010. Executive Member, Econometric Society of India.

2020. UN Asia Pacific, Led the policy research in Asia Pacific region on “Macroeconomic Policy response on Covid19”, Bangkok.

2017. UNESCAP, to lead the Asia Pacific region on “Macroeconomic Policy for SDGs: Fiscal- Monetary Policy Tools” Bangkok.

2017. Expert, UNESCAP & Ministry of Foreign Affairs Asia-Pacific Regional Meetings, Thimphu, Royal Government of Bhutan

2016. Expert, UN Secretary General’s High Level Panel on Women’s Economic Empowerment, EGM at ILO, Geneva

2016. Nairobi Consultations - “Regional Knowledge Exchange: Implementing the 2030 SDG Agenda”, UNDP Bangkok.

2016. Lead, International Monetary Fund, to lead the Asia Pacific region on “Fiscal policy for gender equality”, Washington DC.

2016. Expert, High Level Meeting of the Global Partnership for Effective Development Corporation, Bangkok

2016. Expert, Asia-Pacific Regional Consultations on “Transformative financing for the SDG 2030”, UNESCAP-UNDP, Bangkok

2014. GDN. Led Latin America, Caribbean, Asia Pacific team on “Macroeconomic Volatility & Fiscal Monetary Policies”, Paris.

2013. The Commonwealth Secretariat. Research on “Fiscal Innovations for gender equality”, London.

2013. International Institute of Sustainable Development, Research on “Gender Issues in Energy Reforms”, Geneva.

2010. UNDP, research on “Gender Sensitive Fiscal Policies in Asia Pacific”, Human Development Research Centre, Bangkok.



Other information





1.     Dr Y V Reddy (former Central Bank (RBI Governor and Chairman, Fourteenth Finance Commission):



2.    Prof Vito Tanzi (former Executive Director, Fiscal Affairs IMF).


3.     Prof Pulapre Balakrishnan (former Director, Centre for Development Studies, JNU).



4.     Prof Janet Stotsky (fr IMF Advisor).




Curriculum vitae

Link to CV