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Macroeconomics

The growing burden of state subsidies

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Union Budget 2025-26: Many small measures but lacks big ideas

The Finance Minister recently presented the Union Budget for 2025-26. In this post, Rajeswari Sengupta notes that the most significant aspect of this Budget is the fiscal stimulus aimed at middle-clas...

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Uneven resilience: Why some emerging markets better navigate US monetary policy cycles

As the US dollar and monetary policy continue to have a significant impact on global financial dynamics, some emerging markets are observed to be more resilient than others to the policy cycles. Analy...

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Economic development of Punjab: Prospects and policies

While the north Indian state of Punjab topped per-capita income rankings within the country until year 2000, its position fell consistently thereafter. This article discusses the current state of Punj...

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In lieu of the Planning Commission: Part III

In this post, Sunil Jain – Managing Editor, Financial Express – provides his perspective on some of the issues involved in replacing the Planning Commission. In his view, the new body should focu...

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Do location-based incentives promote industrialisation?

In a bid to industrialise the relatively under-industrialised states of Himachal Pradesh and Uttarakhand, the government implemented a tax incentive and capital subsidy scheme in the two states in 20...

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In lieu of the Planning Commission: Part II

In this post, Chandrajit Banerjee - Director General, Confederation of Indian Industry (CII) - provides his perspective on some of the issues involved in replacing the Planning Commission. In his vie...

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Increasing tax compliance through social recognition

To enhance government revenues, it is important to tackle the menace of tax evasion. This column discusses an experiment that tests whether sharing a firm’s tax compliance status with neighbouring ...

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In lieu of the Planning Commission: Part I

The Indian government plans to replace the Planning Commission with a more contemporary think tank. Over the next few weeks, we will present views of experts from various stakeholder groups – priva...

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The future of economic planning in India

Economic planning has been a central tenet of India’s development strategy since independence. In this article, Pronab Sen – former Principal Adviser to the Planning Commission of India – prese...

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The labour reform myth

A few Indian states have taken steps to relax the labour law pertaining to worker retrenchment. This article argues that while this is a step in the right direction, it may be unrealistic to expect b...

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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 reco...

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What impedes SMEs from joining Asian supply chains?

While Small and Medium Enterprises play a significant role in job creation at the country level in Asia, they are underrepresented in Asian supply chains. This column analyses data from 5,900 manufac...

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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 ...

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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 ...

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The new plan body must have a certain oomph

PM Modi has announced that his government plans to scrap the six-decade old Planning Commission and replace it with a more contemporary think tank. In this article, Abhijit Banerjee outlines the vari...

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Most Popular Macroeconomics Posts

Land in India: Market price vs. fundamental value

The Real Estate (Regulation and Development) Bill, 2015, is focused on protecting the few home buyers who can afford to buy homes but does not address the issue of high land prices, which is a very se...

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Land records and titles in India

Land ownership is broadly determined by access to a land title, which protects the rights of the title-holder, and impacts livelihoods, and industrial, economic, and social growth. However, land title...

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West Bengal’s economic performance relative to India over the last three decades

Against the backdrop of the ongoing elections in West Bengal, Maitreesh Ghatak examines how the state’s economic performance compares with that of the country as a whole, over the past three decades...

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