.svg){kind=icon}
.svg){kind=icon}
%201.svg){kind=icon}
%201.svg){kind=icon}
.svg){kind=icon}
.svg)
.svg)
Prachi Mishra
Prachi Mishra is a Professor of Economics, and Director and Head of the Isaac Center for Public Policy at Ashoka University.
Prior to joining Ashoka, she was Chief of the Systemic Issues Division and Advisor in the Research Department at the International Monetary Fund. Previously, she worked in several IMF departments in Washington, including the office of the First Deputy Managing Director. Between 2018 and 2020, she worked at Goldman Sachs as Managing Director, Global Macro Research, and India Chief Economist. During 2014-17, she served as Specialist Adviser and Head of the Strategic Research Unit at the Reserve Bank of India. During 2012-13, she was Senior Economist in the Office of Chief Economic Advisor in India’s Ministry of Finance, and at the Prime Minister’s Economic Advisory Council. She also served as a member on the Board of CAFRAL (Center for Advanced Financial Research and Learning, owned and promoted by the RBI), on the External Advisory Council of the Fifteenth Finance Commission of India, and on the Fiscal Responsibility and Budget Management Review Committee.
She received a PhD in Economics from Columbia University from 2004, and a Masters from the Delhi School of Economics in 1999. Her research interests are in the areas of international economics, macroeconomics, and the Indian economy and financial markets.
.svg)
High public debt in India: 9 stylised facts
The Covid-induced surge in public debt in India was unique compared to its own history, but also bigger and driven by different factors relative to the average emerging market economy. In this post, Mishra and Patel document nine stylised facts on the recent evolution of sovereign debt and fiscal deficits in India – examining issues such as the cost of high debt levels, whether there are silver linings, and the path ahead.
Monetary policy in India and other developing countries
Setting interest rates and controlling inflation is an altogether different challenge in countries like India. This column argues that in many developing countries, the financial system is still too underdeveloped for monetary policy to have a reliable effect on the economy, raising doubts over several of today’s policies.