Goa is celebrating the Golden Jubilee Year of its Liberation. The recent economic achievements of the state are highlighted. The economic and financial structure of the state as well as the various financial inclusion initiatives taken by the Reserve Bank are outlined. Policy challenges ahead...

China, as the most populous country in the world, is ageing rapidly. Against the background of dramatic demographic changes in this century, China’s current pension system is badly structured, and not able to cope with the rapid ageing population. The Chinese government is well aware of...

The objective of this report is to share a market level overview of the early stage progress of (Mobile Financial Services) MFS in Bangladesh up through the first quarter of 2012. A series of short surveys and discussions with ten banks and four (Mobile Network Operator) MNOs, plus interviews...

Is there sufficient allocation for children in the budgets? [HAQ CRC].

The FRBM Act was reflective of the shared commitment across political parties towards fiscal conservatism. A decade later, the picture, as reflected in the Union Budget, is yet to change for the better. And given the interests that the current Government represents, a real departure from the...

When analyzing the appropriate response for monetary policy during a currency crisis it is important to keep in mind two distinct channels: (a) the impact of raising interest rates on exchange rates; and (b) the direct impact of exchange rate changes on output. The first pertains to the monetary...

An important method of managing resources to finance consistent and balanced human development lies in the reprioritisation of current expenditure in accordance with the urgent needs and shortfalls in particular areas. Such reprioritisation should also lead the states to a better macroeconomic...

Theoretical literature identifies two variants of crowding out in an economy–real and financial. The real (direct) crowding out occurs when the increase in public investment displaces private capital formation broadly on a dollar-for-dollar basis, irrespective of the mode of financing the...

For many decades, macro-policy in India was conducted in an environment with five key elements: Agricultural shocks rather than a conventional business cycle; A closed economy; deeply distortionary tax policy coupled with a fiscal crisis; financial markets that lacked speculative price discovery,...