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Posts by Arvind Subramanian

Coal and the climate change debate

In the run-up to the Paris Climate Summit, there has been a growing call among advanced nations to phase out fossil fuels. In this article, Arvind Subramanian, Chief Economic Adviser, Government of I...

India's monetary policy in unusual times, uncharted waters

There is a lot of discussion of the right course of monetary policy for India. In this article, India’s Chief Economic Adviser Arvind Subramanian argues that the country’s real policy interest ra...

Charting a course for the Indian economy

Karthik Muralidharan (Associate Professor of Economics, University of California, San Diego) speaks with Arvind Subramanian (Chief Economic Adviser, Government of India) on a broad set of issues rang...

Land Shackled - II

Rising land scarcity and land market distortions are increasingly becoming a binding constraint on development in India. In their previous article, Kapur, Somanathan and Subramanian diagnosed India...

Land Shackled

Rising land scarcity and land market distortions are increasingly becoming a binding constraint on development in India. In the first of a two-part series, Kapur, Somanathan and Subramanian diagnose ...

Is the rupee fairly valued?

Is the rupee fairly valued, and should the RBI allow it to appreciate beyond its current rate? This column analyses new World Bank data and finds that the rupee is persistently undervalued by 30% or ...

India's WTO problem: A proposal

India is threatening to block the WTO Trade Facilitation Agreement unless its agricultural policies are exempted from multilateral scrutiny. This article contends that while India’s objectives on ag...

Modi's first Budget for India: Disappointing but retrievable

In this article, Arvind Subramanian contends that while Modi’s first Budget was good on vision, it fell short in terms of fiscal adjustment, budgetary transparency and credibility, and specificity ...

The Jaitley Budget: Planning for crisis

El Nino can potentially derail the best-laid plans of the new government in India. The article contends that the finance minister would do well to plan his first Budget by attaching a reasonable prob...

Reversing premature de-industrialisation in India

In countries across the world, de-industrialisation is taking place earlier in the development process. This column analyses how India fares in this regard. It finds that for most Indian states, the ...

An Indian trade paradox

India’s trading partners often complain about the restrictiveness of India’s trade regime. This column argues that they are both right and wrong. While India´s economy is ‘closed’ in terms of...

Why taxing property is essential for local government accountability

With rapid decentralisation and urbanisation, wealth is increasingly vested and locked up in land and property in India. In their previous article, Kapur and Subramanian emphasised the importance of ...