India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper draws on Indian macroeconomic developments since 2000 and the experience of other...

This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating forecasts and risk assessment as well as conducting policy analysis. QPM incorporates...

Electrification has been shown to accelerate opportunities for women by moving them into more productive activities, but whether improvements in economic outcomes also change gender norms and practices within the household remains unclear. This paper investigates the causal link between...

An important infrastructure policy issue for rapidly growing cities in developing countries is how to raise fiscal revenues to finance basic services in a fair and efficient manner. This paper applies hedonic analysis that explicitly accounts for spatial spillovers to derive the value of...

The benefits to Indian manufacturing firms of locating in dense urban areas do not appear to offset the associated costs. Improving the quality and availability of transport infrastructure linking smaller urban areas to the rest of the interregional network would improve manufacturing plants'...