This paper alyses the impact of intertiol oil price shocks on major macroeconomic variables in India with the help of a macroeconomic policy simulation model. Major three channels of transmission viz. import channel, price channel, and fiscal channel are explored with the help of a macroeconomic (simultaneous equations) framework. The occurrence of a one-time shock in intertiol oil prices is combined with altertive scerios of deregulation of domestic prices of petroleum products to estimate the outcomes for growth, inflation, fiscal balances and exterl balances during 2012-13 to 2016-17. A 50 percent shock in intertiol oil prices at the beginning of 12th Plan period, results in a fall in average GDP growth, while it pushes the inflation rate up both in the year of shock, as well as on an average during the 12th Plan period. In the year of shock the effects are most severe, which gets mitigated slowly by the end of 12th Plan period. For altertive scerios of pass-through of intertiol oil prices to domestic prices, as the pass-through ratio increases from 0 percent to 50 percent and further to 100 percent and more than 100 percent, the budgetary subsidy falls with the decline in real economic growth, is likely to become sharper and the inflation rate is likely to go up further. The fiscal deficit to GDP ratio might come down but possibly at the cost of lower growth and higher inflation. If the decline in revenue deficit is compensated by increase in capital expenditure, then the fall in real GDP growth may not be much.

The objective was to explore the possibility of setting up a venture capital fund to encourage innovation in Pharma development.

The study alyses the impact of keeping crude petroleum, natural gas, motor spirit, high speed diesel and aviation turbine fuel out of the Value Added Tax (VAT) scheme. Specifically, the study finds that keeping these items out of the input tax credit mechanism (either partially or fully) would have high distortiory effects. It proposes more appropriate method of taxing petroleum products under the Goods and Services Tax regime.

The objective of the project was to analyze the design and implementation issues including the timing and pattern of release of funds by the Centre to the States under selected centrally sponsored schemes. The report provided several recommendations to improve the flow of funds and effectiveness of utilization of resources – including the need to relook at the system of matching grants by States, better monitoring system of fund utilization, and easier reporting guidelines and formats.

The objective of the study is to capture the taxes, levies, and charges applicable on the telecom sector in India on the basis of taxation/ charges, rates of taxation/charges, and total amount mobilised through taxation/ charges on the telecom sector in India.

The report intended to build-up and synergize from district-level vision strategies to provide a framework for development in the state.

This report discusses the structure and composition of health expenditure by the Centre, and highlights its distribution across States. Specifically, it focuses on the extent of expenditure through the ‘treasury’ and the ‘non-treasury’ routes and alyses their distribution across States in each of the years between 2006-07 and 2009-10. The alysis suggests that since the mid-nineties, there has been a sharp decline in Central transfers to States through the treasury route and at present, around 70 to 75 per cent of the total expenditure by the Centre at the State-level is incurred through the non-treasury route. An alysis of the distribution of expenditure across States, suggests, that the per capita expenditure under the Flexible Pools of NRHM, the single largest component in the non-treasury route, is higher in the non-high focus States than in the high focus States. In general, there is no systematic relationship of expenditure by the Centre with the performance of States in terms of health indicators.

The objective of this report is to prepare the Medium Term Fiscal Policy (MTFP) of Goa for the year 2011. The State Government is required to place the MTFP in the legislature as stipulated in the FRBM Act. The MTFP 2011 represents the fiscal policy objectives and projected fiscal targets in the ensuing budget year and two outward years. A detailed review of the macroeconomic and fiscal performance of Goa for the period from 2004-05 to 2010-11 was undertaken in the MTFP. Based on the review of state finces and the level of fiscal imbalance, the Medium Term Fiscal Plan was prepared for the period between 2011-12 and 2013-14. The assumptions with regard to the revenue forecasts and expenditure restructuring parameters for the preparation of MTFP are arrived at on the basis of the recent data covering the period between 2004-05 and 2010-11 and taking into consideration the policy announcements relating to revenue augmentation measures and expenditure priorities.