An autonomous research institute under the Ministry of Finance


Why celebrate a disappearing deficit?


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Single-minded pursuit of zero revenue deficit can hurt the poor in particular.
In the post pandemic fiscal strategy, the "golden rule" of targeting zero revenue deficit is gaining attention as a powerful mantra of fiscal discipline. The 'golden rule' translates that the revenue receipts should be the basis ...

Fiscal Policy for Sustainable Development in Asia-Pacific: Gender Budgeting in India by Lekha Chakraborty


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A real technical and practical tour de force on gender budgeting. 
A real technical and practical tour de force and a sophisticated take on gender budgeting. It combines into useful fusion from her deep knowledge of two key fields for India:  fiscal and budget policy and gender ...

India's Economic Growth Recovery


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India’s recent economic growth with a 7.2 per cent increase in GDP in the Financial Year 2022-23 has created enthusiastic optimism. The GDP growth trajectory has touched $3.75 trillion. In IMF's economic growth estimations, India is the fastest-growing economy in the world. In the post-pandemic growth strategy, this ...

Rethinking the Rules: Need for a consultative process


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Rethinking fiscal rules has often been a central theme in the debate over cooperative federalismin India. The Centre has recently determined that contingent liabilities or off-budget borrowings will be included in estimating the Net Borrowing Ceiling (NBC)of the states.This has considerably reduced the fiscal space of thestate governments ...

Fiscal space and the size of Government in Kerala


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In the post pandemic fiscal strategy, the Indian States are instructed to maintain a fiscal deficit GDP ratio to 3.5 per cent of GSDP, with 0.5 percent extra borrowing powers tied to mandatory power sector reforms. To meet the challenges related to maintaining a robust growth path through ...