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Macroeconomics

Why next-generation economic reforms are crucial for reviving investment

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The growing burden of state subsidies

Delivery of welfare benefits to citizens by state governments in India often takes the form of subsidies. Analysing budgetary data from seven Indian states for the period between 2018-19 and 2022-23, ...

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High public debt in India: 9 stylised facts

The Covid-induced surge in public debt in India was unique compared to its own history, but also bigger and driven by different factors relative to the average emerging market economy. In this post, M...

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Uneven resilience: Why some emerging markets better navigate US monetary policy cycles

As the US dollar and monetary policy continue to have a significant impact on global financial dynamics, some emerging markets are observed to be more resilient than others to the policy cycles. Analy...

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What should we do about the Indian economy? A wide-angled perspective - III

In the previous part of this series, Ashok Kotwal and Pronab Sen presented an export-led development strategy employed by successful Asian countries and why India failed on this front. In this part, t...

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What should we do about the Indian economy? A wide-angled perspective - II

In the previous part of this series, Ashok Kotwal and Pronab Sen described the generic process of development in a dual economy. In this part, they present the strategies employed by successful Asian ...

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What should we do about the Indian economy? A wide-angled perspective - I

The Indian economy, one of the fastest growing economies in the world over the last three decades, today shows telltale signs of an economic slowdown. In this four-part series, Ashok Kotwal and Pronab...

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Foreign currency sovereign bonds: Think before you leap?

Government recently announced its decision to borrow in foreign currency from abroad to finance part of government’s fiscal deficit. In this post, Renu Kohli discusses some key fiscal preconditions ...

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I4I Event: Panel Discussion on financing development in India

‘Ideas for India’ is hosting a panel discussion on ‘Financing development in India’ on Monday, 9 September 2019, at Desire Hall, Le Méridien Hotel, New Delhi at 6:30pm. The panellists are Pra...

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Public debt through the ages

The history of sovereign debt evolved over time along with the purposes for which governments borrowed: first State-building, then public-good provision, and most recently social welfare and entitleme...

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The return of the policy that shall not be named: Principles of industrial policy

The 'Asian miracles' and their industrial policies are often considered as statistical accidents that cannot be replicated. This article argues that we can learn more about sustained growth from these...

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Why external sovereign debt should be avoided

The Finance Minister of India, in her 2019 Budget speech, announced the government’s intent to finance a part of the fiscal deficit by issuing sovereign bonds in the international financial markets....

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A silver lining in India’s employment scenario

The latest jobs data released by the government showed a record high unemployment rate of 6.1% in 2017-18, but a rise in the share of workers with a regular job in urban areas. In this post, Mehta and...

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Government securities market: Price discovery and the cost of Indian government borrowing

The government securities (G-Secs) market has substantial effects on other markets as the producer of risk-free interest rate benchmarks. Over 2017-18, there was a sharp rise in the interest rates of ...

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Agriculture and the Union Budget: policies and prospects

In this post, Shoumitro Chatterjee and Mekhala Krishnamurthy analyse the key proposals in the Union Budget 2019 pertaining to reforms in agricultural market, ease of doing business for farmers, and ag...

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Union Budget 2019: An attempt to address the economy’s stress points

In this post, Niranjan Rajadhyaksha contends that in the first Budget of the second Narendra Modi administration, Finance Minister Nirmala Sitharaman has made an honest attempt to address some of the ...

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Most Popular Macroeconomics Posts

Land in India: Market price vs. fundamental value

The Real Estate (Regulation and Development) Bill, 2015, is focused on protecting the few home buyers who can afford to buy homes but does not address the issue of high land prices, which is a very se...

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Land records and titles in India

Land ownership is broadly determined by access to a land title, which protects the rights of the title-holder, and impacts livelihoods, and industrial, economic, and social growth. However, land title...

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West Bengal’s economic performance relative to India over the last three decades

Against the backdrop of the ongoing elections in West Bengal, Maitreesh Ghatak examines how the state’s economic performance compares with that of the country as a whole, over the past three decades...

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