An autonomous research institute under the Ministry of Finance


Ongoing projects

Research and Consultancy Support to Pandit Deendayal Upadhyay Centre for Training and Research in Financial Administration, Government of Uttarakhand, Dehradun

  • Start date July, 2021
  • Completion date Aug., 2022
  • Sponsor Pandit Deendayal Upadhyay Centre for Training and Research in Financial Administration (PDU-CTRFA), Government of Uttarakhand
  • Project leader Pratap Ranjan Jena
  • Other faculty Dinesh Nayak, Bhabesh Hazarika and Manish Gupta
  • Focus
    Detailed training modules on various aspects of public financial management systems are being prepared. These include:
    􀀁 Key Constitutional Provisions, Acts and Rules under PFM
    􀀁 Medium Term Fiscal Framework
    􀀁 Budget Execution and Commitment
    􀀁 Public Investment Management
    􀀁 Cash and Debt Management.

Revision of Template and Manual for the Indian Public Finance Statistics

  • Start date April, 2021
  • Completion date June, 2022
  • Sponsor Department of Economic Affairs, Ministry of Finance
  • Project leader H.K. Amarnath
  • Other faculty Manish Gupta, and Sri Hari Nayudu A.
  • Focus
    In view of the recent changes in Central transfers to states, Central support to states budget, tax structures (introduction of GST) and discontinuation of plans, the contents of Indian Public Finance Statistics (IPFS) need changes. There is a need for discontinuation of certain sections while others need restructuring. The study would examine the chapters/ sections/ tables which can be discontinued; where additional information needs to be included in the context of recent developments and; would suggest additions or deletion in the existing table formats and prepare a format and fill in the data for two years. It would also suggest changes in the adjustments made in the existing document.

EAC-PM –Quarterly Reports on Indian Economy and Two Studies on Relevant Topics suggested by EAC-PM (Two Reports)

  • Start date Feb., 2022
  • Sponsor Economic Advisory Council to the Prime Minister (EAC-PM)
  • Project leader Pinaki Chakraborty
  • Other faculty Lekha Chakraborty, Manish Gupta, Dr. Rudrani Bhattacharya and Dinesh K. Nayak
  • Focus
    In continuation with the earlier MoU with EAC-PM for the period October 2020 to September 2021, a new MoU was signed in February 2022 with the reconstituted EAC-PM (October 2021) to continue providing them quarterly reports on Indian economy and two focused research papers on relevant themes identified by the Council. So far one report has been submitted for the period October-December 2021 to January-March 2022.

Baseline study of GRM Mechanism (Grievance Redressal Models for Financial Inclusion in India)

  • Start date Nov., 2021
  • Completion date May, 2022
  • Sponsor Bill & Melinda Gates Foundation – GRM
  • Project leader Renuka Sane
  • Consultants/Other authors Srishti Sharma, Aishwarya Gawali, Margi Pandya and Nancy Gupta
  • Focus
    The objective of the study is to:
    􀀁 What do households do when faced with a financial grievance – whether they know how this grievance can be resolved and whether they get a satisfactory response when they approach the GRM mechanism established by the financial institutions and the regulators?
    􀀁 The impact of these GRMs on the household’s decision making on participation in financial markets and test the hypothesis of whether past grievances with formal financial products may be related to additional flows into physical assets.
    􀀁 To evaluate the differences in households’ responses by their characteristics – whether those in higher income deciles fare better than those in the lower income decile, whether the poor face a disproportionate welfare loss, whether their responses differ by risk appetite and rates of time preference. This will include measurement of ‘risk preferences’ and ‘time preferences’ of households. There will be a special emphasis on the experiences of the ‘poorest of the poor’ and women, including those in rural areas, who are likely to have less agency in general.

Data Analytics for Guarantee Schemes for CGTMSE

  • Start date July, 2021
  • Sponsor Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
  • Project leader Renuka Sane
  • Consultants/Other authors Ananya Goyal and Mithila A. Sarah
  • Focus
    Data collection and analyse including with limitation, econometrics, economic and policy research.
    􀀁 Data universe definition
    􀀁 Data analytics
    􀀁 Policy review, reporting and governance