An autonomous research institute under the Ministry of Finance


Interview by Karan Thapar on Medium-term Structural Changes that India Face


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Some medium-term fiscal arithmetic


A medium-term macro-fiscal exercise will make clear the analytical choices and trade-offs that the government faces.


There is little doubt that the central government is constrained for fiscal space and it is, therefore, important to think about solutions going forward. I offer a medium-term macro-fiscal exercise that makes clear ...

Challenges to Indian Fiscal Federalism


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Countries are organized either as “Unitary ” (France) or as “Federations” (India, Brazil, the United States). In the first group, a national, or a central, government, makes the economic decisions for the whole country’s territory. In the second group, a Constitution has generally assigned various government’s economic functions between the ...

A common economic programme for India


The economic programme of any party or coalition that is serious about transforming India must be underpinned by four economic objectives.
A development transformation involves progress on many fronts, but there can be no transformation without high, stable, and inclusive economic growth. The economic programme of any party or ...

Indian Fiscal Federalism: A Few Empirical Questions


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The book titled “Indian Fiscal Federalism” co-authored by Y V Reddy and G R Reddy is written from a “practioner’s perspective”. The simplicity of this book is appealing, especially when the content of the book is about a very complex set of rules and games between the Centre and the ...