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Ashok Kotwal
On demonetisation
Posted on: 23 Dec 2016
On the evening of 8 November, the Prime Minister announced on national television that Rs. ... read on »
Introduction to e-Symposium: The GDP conundrum
Posted on: 16 Nov 2016
Ever since India’s Central Statistical Organisation came out with the new GDP series with ... read on »
Introduction to e-Symposium: The idea of a universal basic income in the Indian context
Posted on: 26 Sep 2016
The idea of an unconditional basic income given to all citizens by the State, has caught o ... read on »
Introduction to e-Symposium: Ideas for reforms in education policy in India
Posted on: 18 Nov 2015
A New Education Policy is being formulated in India based on a time-bound grassroots consu ... read on »

Tag: regulation

Has regulatory intervention been effective in maintaining stability of Indian banks?
Mostak Ahamed , Sushanta Mallick
Posted on: 06 Feb 2017
Topics:   Finance


To address the challenges that Indian corporates faced in the early 2000s in meeting their debt-servicing obligations to banks/financial institutions, RBI introduced a corporate debt restructuring programme in 2002. This column finds that in the absence of a strong legal system, this out-of-court regulatory mechanism has indeed helped Indian banks remain stable, as there has been no bank failure in India unlike in other countries.
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Foreign currency borrowing by Indian firms: What do we know?
Ila Patnaik , Ajay Shah , Nirvikar Singh
Posted on: 09 Nov 2015
Topics:   Finance


As foreign currency borrowing by Indian firms has been increasing, concerns have surfaced about rising associated risks. Hence, recent policy changes seeking to make the regulatory regime simpler and more transparent are timely. This column addresses several important questions regarding foreign currency borrowing of Indian firms, the answers to which can provide a firmer basis for ongoing policy formulation.
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Using science to improve Indian agriculture
Robert S. Zeigler
Posted on: 26 Jun 2015

Five years ago, the Indian government imposed a ‘temporary’ moratorium on the commercial release of Bt brinjal – a genetically modified crop - even after it had passed through the due regulatory processes. In this article, Robert S Zeigler, a plant pathology expert, outlines the benefits of transgenic crops and emphasises the need to expedite their adoption in India.
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Clicks and editorial decisions: How does popularity shape online news coverage?
Ananya Sen , Pinar Yildirim
Posted on: 18 May 2015
Topics:  


Identifying whether newspaper editors focus on what is ‘newsworthy’ or what is ‘trendy’ when choosing stories is important for the design of media regulation. This column shows how the popularity of an article, reflected by online clicks, influences the coverage of the story. However, this strategy operates differently for ‘hard’ and ‘soft’ news and hence, does not lead to a general decline of the quality of content.
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Responding to external shocks
Ashima Goyal
Posted on: 30 Apr 2015

Following the global financial crisis of 2007-08, the Indian economy was exposed to various shocks. While the major source of shocks was external, the effects were magnified by certain lapses in domestic policy. This column discusses what policies worked and what did not work to reduce excessive rupee volatility, and how the lessons were applied to prepare for any future shocks.
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The 2015-16 Union budget and India’s growth
Nirvikar Singh
Posted on: 04 Mar 2015

The 2015-16 Union budget – the first full-year budget of the new government – was presented last week. In this article, Nirvikar Singh, Professor of Economics at the University of California Santa Cruz, contends that the budget is a welcome return to transparency and sanity, and has a host of small changes that add up to a promising reform agenda.
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Challenges and priorities for financial sector reform in India
K.P. Krishnan , Nirvikar Singh
Posted on: 17 Nov 2014

I4I Editor Nirvikar Singh (Professor, University of California, Santa Cruz) interviews K.P. Krishnan (Former Additional Secretary, Department of Economic Affairs, Ministry of Finance) on the central government’s plans and priorities for financial sector reform, and associated challenges. Dr Krishnan provides his perspective on issues including the regulatory architecture, financial inclusion initiatives, strengthening the banking system, and infrastructure financing.
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Creating the climate for India’s low-carbon growth story
Varad Pande
Posted on: 28 Jul 2014
Topics:   Environment


The ‘Expert Group on Low Carbon Strategies for Inclusive Growth’ recently laid out a detailed roadmap for India to take on climate change mitigation proactively. In this note, Varad Pande – a member of the Expert Group – outlines the key strengths of the roadmap, and contends that India must now create the political and administrative climate to implement it.
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Keys to successful reform in India
Eswar Prasad
Posted on: 09 Jul 2014

The new Indian government’s first budget - due to be unveiled this week – will be an important indicator of how forcefully the new PM intends to translate his mandate of putting India’s economy back on track into effective actions. This article contends that both strategy and specifics will be crucial for this budget to effectively kick-start economic reforms.
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Pricey diesel
E. Somanathan
Posted on: 31 Mar 2014
Topics:   Health


India was recently ranked 174th out of 178 countries, on air pollution. A key contributing factor is diesel vehicles. This column shows that diesel subsidies benefit the rich more than the poor, and emphasises the need to change current regulation to enforce fuel improvement measures. Although such policies seem expensive, the positive effects on sickness, health expenditures and productivity would outweigh the costs.
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Four Changes to trade rules to facilitate climate change action
Aaditya Mattoo , Arvind Subramanian
Posted on: 24 Jan 2014
Topics:   Environment , Trade


Global climate cooperation has collapsed but the need for action has not disappeared. This column argues that only radical technological progress can reconcile climate-change goals with development. It argues that four changes in WTO trade rules could facilitate climate-change action and technological advances without unduly damaging trade.
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Do the poor need genetically modified crops?
Milind Murugkar
Posted on: 22 Nov 2013

Field trials of a few genetically modified crops were recently put on hold by the Environment Ministry. This article asserts that the decision reflects an ideological resistance to and suspicion about the technology, which is at odds with the government’s stated policy of using GM crops for the benefit of rural poor. It argues that GM crops can go a long way in helping farmers by improving crop yields.
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The Chit fund crisis: Should not put all financial intermediaries in the same bracket
Abhijit Banerjee , Maitreesh Ghatak
Posted on: 03 May 2013
Topics:   Finance , Crime


The government has announced a bailout package for the participants of unregulated saving schemes that have been put at risk by the current Chit fund crisis in West Bengal. In this article, Banerjee and Ghatak caution against putting deposit-takers and micro-lenders in the same bracket while considering stricter financial regulation to prevent recurrence of such events.
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The Clean Development Mechanism in India – is it working?
Johannes Urpelainen
Posted on: 01 Oct 2012
Topics:   Environment


The Clean Development Mechanism of the Kyoto Protocol allows developing countries to profit from climate friendly projects, and India is second only to China in using the mechanism to help reduce its carbon emissions. But, unlike China, India does not have a national policy. This column argues that as a result the profits are not going to the states that need them most.
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Has environmental regulation been successful in India?
Michael Greenstone , Rema Hanna
Posted on: 16 Jul 2012
Topics:   Environment


India has an impressive number of environmental regulations – but have they been a success? This column presents evidence that while initiatives such as catalytic converters for cars have reduced air pollution, there has been far less success in tackling water pollution. It argues that regulators will only be effective when they are given enough power and legitimacy.
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