This paper analyses the impact of domestic and external shocks on the Indian economy. A macro-modelling framework is developed that evaluates the impact of two domestic shocks (rainfall shortfall and fiscal profligacy) and three external shocks (oil price hike, world trade shock and capital flow...

Are ostensibly demand-driven public programs less susceptible to political clientelism even when private goods are allocated? This is examined using expenditure data at the local level from India’s National Rural Employment Guarantee Scheme.