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Tag Search: “fiscal policy”

India's macroeconomic outlook

With falling inflation, high forex reserves and the new government embarking on a broad reform agenda, things seem to be looking up for India. In this article, Eswar Prasad shares his macroeconomic o...

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Estimating kerosene leakages from the Public Distribution System

Kerosene – the primary fuel used by the poor in India for cooking and lighting – is made available at subsidised rates by the government through the Public Distribution System. This column seeks to e...

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Economics of public pension: Analysing India's old-age pension scheme

India’s older population aged 60 or above, is the second largest in the world. This column analyses the effects of India’s National Old Age Pension Scheme on the wellbeing of the elderly. It recommen...

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Goods and Services Tax in India: Challenges and prospects

The Finance Ministry recently announced that the Goods and Services Tax will soon be a reality. In this article, M. Govinda Rao – member of the 14th Finance Commission – discusses the challenges and ...

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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 an...

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Two views on the Budget

The Modi government’s first Budget has received a mixed response. Eswar Prasad and Bharat Ramaswami present two distinct views on the Budget. While Prasad is of the opinion that the Budget hits the r...

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The Goods and Services Tax: Light at the end of the tunnel?

As the Goods and Services Tax is inching towards implementation, a major overhaul of the Indian tax system has also been in progress. This article discusses three key strengths of the ongoing process...

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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 ...

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Taxation's fatal neglect?

Today, the public discourse on government finances in India is largely focused on spending. This article emphasises the importance of taxes, particularly income tax, in ensuring citizen participation...

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India's unique crisis - a short term fix

While the current turbulence in the Indian economy bears a resemblance to the situation of other emerging economies, it is unique when compared with historical experiences of economic crises. In thei...

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What is mitigating a financial crisis in India?

The recent turmoil in the currency market and the general slowdown in growth in India are disturbing. However, India has by and large performed better in terms of macro-financial stability as compared...

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Long term recovery of the Indian economy depends on reforms

The Indian economy has been facing challenges in the form of sluggish growth, high inflation, and rising fiscal and current account deficits. This column highlights trends in the economic conditions,...

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