Economic stability can be seen as an essential component of any strategy for inclusive development. To the extent that central banks play a role in providing that stability, the experience of the crisis has led to considerable thinking and debate on its implications for central bank mandates,...

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...

In India, there is a large divergence between CPI and WPI inflation trends in the past, wide dispersion in inflation across commodity groups within WPI, and significant volatility in headline WPI inflation under the influence of supply shocks, the statistical limitations of prices data have...

The nature of the financial turbulence that happened recently in US and Europe, why it happened, where it happened, and the implications for central banks. Some of the forces that led up to and characterized the recent spate of events, the specific responses of central banks and some challenges...

The Union Budget remains significant for the agricultural sector in the country for at least the following two reasons. First, the budget comes in the background of an agrarian crisis in the country, persistent since the late nineties, which also coincided with the period of a policy thrust on...

The Fisher's equation has become a foundation stone of modern macroeconomic, monetary and financial theories. Here it is shown that despite the estabilished status of Fisher's equation, it stands on a rather shaky foundations. URL:[http://www.gipe.ac.in/pdfs/working%20papers/wp24.pdf].

This paper reviews recent state interventions in financial crises and draws lessons for crisis management. A number of areas are identified where crisis management could be strengthened, including with regard to the tools and instruments used to involve the private sector in crisis resolution...

This is a analysis of relationship between the Central Bank of Sir Lanka and the Sri lankan Government. It views the relationship in context of emerging economic environment and global economy.