Substantial fiscal consolidation was achieved under the aegis of the 2003 Fiscal Responsibility and Budget Management Act. While deficits widened anew in 2008 and 2009, against the backdrop of the global financial and economic crisis, efforts to reduce them have resumed since. To ensure...

This paper proposes an evaluative study of the predictive capabilities of the yield spread on economic performance in India. While literature on the subject is vast, studies so far have centered primarily on the U.S. and other developed European economies. In line with previous literature, we...

The demonetization move by the Indian Prime Minister has caught the whole world's eye. Several logical views have been offered, both, for the move and against the move. In this paper, researcher has used the case study approach to find an answer. Economies of three countries, where...

The Indian economy is presently gripped by the dual phenomenon of an unprecedented slowdown as well as financial fragility. What has triggered this? Is this simply a random exogenous shock to an otherwise well-functioning economy? Or, is there anything structural about the present slowdown? What...

Food insecurity and hunger are pressing issues in emerging market economies but have received less attention in the practice and conduct of monetary policy. This paper studies the impact of monetary policy on food inequality in India. Specifically, we examine the impact of monetary policy shocks...

This paper models fiscal effects of foreign aid in a federal system of governance. Our main innovation is to incorporate the inter-governmental fiscal link in examining economic fungibility of foreign aid. The model is applied to the expenditure decisions of the central government of India. The...

The comparison of China's and India's economic trajectories over the last 40 years reveals the massive potential of targeted policies for economic development (in general) and economic growth (in particular). In the early 1980s India and China had a roughly similar GDP and up until 1990 India...

This paper traces the rise of tax expenditure reporting in countries of the Global South, with a particular focus on India. It investigates why and how policy makers in some low and middle income countries are now moving to adopt a budgeting practice that originated in wealthy Western nations in...