An autonomous research institute under the Ministry of Finance


Economics Nobel and Climate Change in India


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(Co-authored with Lekha Chakraborty)
The Economics Nobel 2018, awarded to William Nordhaus of Yale University and Paul Romer of New York University, has put climate change on the centre stage of public discourse. The Sveriges Riksbank Prize in Economic Sciences was awarded on 8 October 2018, for his ground-breaking ...

Monsoon Intensity and Indian Rural Economy: Can States Initiate Climate Responsive Budgeting?


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(This blog post was originally prepared in “five minutes script template” for the External Services Division of All India Radio, Ministry of Information and Broadcasting, Government of India. Broadcast on October 8th, 2018, All Units.
In India, 70 per cent of annual rainfall is received in ...

Economic policy making: Moving on


Gita Gopinath, incoming economic counsellor to the International Monetary Fund (IMF), and Paul Krugman, recipient of the 2008 Economics Nobel prize, have separately made important contributions to thinking about economic policy that are highly relevant for India. They argue that* (1) cookie-cutter macroeconomics needs to be questioned in its foundations ...

India’s Strategic Policy Solutions to BoP Crisis


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Burgeoning crude oil prices have raised concerns about India’s Current Account Deficit (CAD). Oil imports are a major constituent of India’s import bill. The rupee has hit fresh lows in September 2018 as the crude prices have risen.
Though the falling rupee is interpreted as good for export competitiveness ...

Structural reforms needed to fix CAD challenges


India is currently facing challenges in the management of its external account, reflected in worries about rupee depreciation, and concerns about the current account deficit (CAD). 
India’s CAD is structural. Growth is not driven by exports. Domestic growth drivers - investment, and in recent times, consumption - are import intensive ...