Fiscal rules focus on debt-to-GDP ratios, but overlook debt maturity structure, crucial for managing refinancing risks. India's subnational governments exhibit varied maturity strategies, with longer maturities offering stability amid fiscal pressures

In an era of burgeoning public debt—now at above 235 percent of global gross domestic product, as per IMF …

Artificial Intelligence (AI) and Machine Learning (ML) are transforming the global financial landscape by enabling systems to analyze complex data, predict outcomes, and automate decision-making. While AI broadly refers to machines simulating human intelligence, ML is a subset where algorithms learn patterns from data to improve predictions and insights over …

Gender budgeting is a crucial public financial management (PFM) tool that promotes fiscal transparency and accountability, ultimately driving gender equality outcomes. This approach is particularly significant in the context of Viksit Bharat@2047, where it can play a pivotal role in achieving inclusive and sustainable development. By applying a gender lens …

A rate cut by the Reserve Bank of India on 6th June last month— bringing the repo rate down to 5.5%—could cast a long shadow on next year’s surplus, potentially reducing the size of the FY26 dividend and, with it, the government’s fiscal headroom. This possibility adds a layer of …

(co-author : Abhijeet Singh, Lawyer and Research Fellow, NIPFP)

Alternative Investment Funds (AIFs) are pooling vehicles that provide an opportunity to invest in unlisted securities and to diversify portfolio. While these offer new avenues for investment, there are liquidity and volatility risks unique to the asset class. Although AIFs have …