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Some medium-term fiscal arithmetic
07/06/2019
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
03/05/2019
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
03/05/2019
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 ...
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 ...
The Political Economy of Justice
05/04/2019
The second theorem of welfare economics posits that any desired income distribution can be achieved when an economy is at full potential by taxing those who earn more than society wishes and transferring these to those who earn less. I have previously argued that universal basic income proposals essentially genuflect ...