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Mayank Jain
Mayank is a Research Fellow at the National Institute of Public Finance and Policy (NIPFP), New Delhi. His primary research interests lie in labour markets, public finance, development, and governance. He obtained a Master's degree in economics from Tilburg University, and has previously worked as a researcher at the Indian Council for Research on International Economic Relations (ICRIER), New Delhi.
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Covid-19: Conditions on state borrowing need a rethink
States have been in the firing line in the battle to save lives and livelihoods from the impact of Covid-19. However, the loss of economic activity following the nationwide lockdown, has wreaked havoc on states’ finances. While the Centre has allowed states to raise their fiscal deficits from 3% to 5% of gross state domestic product, riders have been imposed in the form of implementation of reforms. In this post, Mayank Jain and D Priyadarshini examine whether these conditions will facilitate or hinder the effective functioning of states in the current scenario.
