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 and …

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 capital …

As the Rs 2,000 banknote is still a legal tender in India, the likelihood of economic disruptions is comparatively lesser. However, the ease of transactions will be disrupted ex-post to the RBI’s decision to withdraw Rs 2,000 notes. 

 

The Rs 2,000 denomination banknote …

The central banks' lack of understanding about the non-monetary components of inflation in times of war and crisis, driven by disruptions in supply chains is reflected in its policy to tackle inflation through a series of interest rate hikes.

 

The US Federal Reserve increased policy …

 

At the outset Lekha S Chakraborty makes a significant observation about the role of fiscal transfers to generate a …