An attempt is made to identify the determinants of yield spreads between the State and Central government securities in a panel data framework as has been used in several cross-country studies. This study examines the potential impact of fiscal as well as market related factors on the yield...

Establishing a debt management office would consolidate all debt management functions in a single agency, and be the catalyst for wider institutional reform and transparency about public debt. It is internationally accepted best practice that debt management should be disaggregated from monetary...

The Reserve Bank of India, in its Annual Policy Statement on April 28, 2005, for the year 2005-06, announced its intention to reorient government debt management operations entailing functional separation between debt management and monetary operations within RBI. This first step initiating the...

The crowding-in phenomenon together with inter-sectoral linkages is used in this paper to examine the effect of higher public investment for agriculture on the stable growth of this sector as well as of the entire economy. [Working Papaer 201]. URL:[http://www.cdedse.org/].

In tribute, a brief note on the rich intellectual trajectory described by I. G. Patel

This note seeks to show that the debate on ‘Pro-Poor Growth’ is sterile and largely academic with few policy insights.

This study, entitled “Municipal Finance in India – An Assessmentâ€, undertaken for the Development Research Group (DRG), Reserve Bank of India examines the performance of Urban Local Bodies (ULBs) in India. Using data from 35 Metropolitan Municipal Corporations, the study...

A major reform process in the Indian economic policy regime away from a four- decade-long inward orientation has been under way since July 1991 in response to a serious macro-economic crisis. The new policy regime aims at liberalising regulations on domestic economic transactions (including...

This Tenth Nani A. Palkhivala Memorial lecture lecture centres around the role and responsibility of a central bank in a democratic structure. Central banks make macroeconomic policy that influences the everyday life of people; yet they are managed by unelected officials appointed by the...

Food security policies in developing countries generally focus on calorie intake, which is not sufficient to tackle the triple burden of malnutrition: undernourishment, micronutrient deficiencies and over-nutrition. Consumption of a diverse diet is important to lessen the burden and is...