An autonomous research institute under the Ministry of Finance

 

Compelling Fiscal-Monetary Policy Linkages in the Event of Demonetisation

23/12/2016

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The demonetisation of 500 and 1000 rupee notes was announced by the Prime Minister on November 8, 2016; since then, there has been a growing interest in understanding fiscal-monetary policy linkages. This article revisits these compelling policy linkages. Increasingly, there is an alarming tendency of segregating the monetary and fiscal ...


Fiscal Consolidation, Budget Deficits and the Macro Economy

19/12/2016

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The 2016 book titled “Fiscal Consolidation, Budget Deficits and the Macro Economy”, by Lekha Chakraborty,  is a welcome addition to the growing literature that deals with fiscal policy in specific countries, focusing on the longer run and on fiscal consolidation, rather than on a short run and countercyclical perspective. The ...

Understanding the rash for cash: Evidence from weekly money supply data

10/12/2016

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Four weeks have passed since the announcement by Prime Minister Narendra Modi on the November 8, 2016 to demonetise currencies of denomination Rs 500 and Rs 1000. Till now, most of the ATMs across the country are in non-functioning mode. There are serpentine queues in front of banks and the ...

Demonetisation needs a parliamentary law to be fool-proof

06/12/2016

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On November 8, 2016, the Rs. 500 and 1000 notes were "demonetised". This move has raised three interesting legal questions. Writ petitions have been filed across the country challenging the legality of demonetisation. Petitions are pending before High Courts of Kerala, Bombay, Delhi, Hyderabad, Gujarat, Karnataka, Calcutta and Allahabad. Till ...

Gender Budgeting as a Mechanism Design

06/12/2016

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With the commitment of IMF in United Nations Secretary General’s High level Panel on Women’s Economic Empowerment , the issue of gender budgeting has reached the world stage as a human development-conscious economic growth agenda. 
 
The  commitment of  IMF in November 2016 to conduct gender budgeting in member countries ...