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Budget 2021-22: A macroeconomic overview

Providing a macroeconomic overview of the Union Budget 2021-22, Niranjan Rajadhyaksha and Sharmadha Srinivasan contend that it is based on realistic assumptions of nominal GDP growth, is reasonably aimed at fiscal expansion rather than premature austerity, makes fiscal policy more transparent, and h...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021

Farm laws: Roadmap for agricultural marketing privatisation

Focussing on the essence of the farm laws, which purportedly seek to promote free market competition in agricultural marketing, Dilip Mookherjee emphasises the need for reform of APMC (Agricultural Produce Marketing Committee) mandis. In his view, the sensible way forward would be to permit direct ...

  • Perspectives

Content Type: Perspectives
Topic: Agriculture
Year: 2021

Budget 2021-22: Over-reliance on infrastructure investment to spur growth?

Commenting on the strong infrastructure push in the 2021-22 Budget, Sarmistha Pal argues that an emphasis on investment in infrastructure may not necessarily bring India out of the current economic recession – with the Budget’s negligence of the education sector and insufficient health expenditu...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021

Budget 2021-22: Missed opportunity for increasing tax collection

Examining income tax announcements of Budget 2021-22 with a broader perspective, Gurbachan Singh highlights the need to increase tax collection in India in a gradual and careful but sustained manner. In his view, while checking tax evasion is important in this context, it is also important to ensure...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021

What can we learn about Swachh Bharat Mission from NFHS-5 factsheets?

Swachh Bharat Mission was introduced by Government of India in 2014 to eliminate open defecation. Based on data from the National Family and Health Survey (NFHS)-5 factsheets, this article shows that the sanitation situation has broadly remained the same between NFHS-4 in 2014 and NFHS-5 in 2019. Ha...

  • Articles

Content Type: Articles
Topic: Human Development
Year: 2021

Budget 2021-22: A gender lens

Examining the 2021-22 union budget through a gender lens, Nalini Gulati discusses what the budget does – and does not do – for women in the Indian economy, particularly with respect to the digital push, public transport, other public services, health sector, and the boost to the textile industry...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021

An assessment of policy performance under the current regime

Commenting on the recent policy paper by Subramanian-Felman, Maitreesh Ghatak discusses why – looking at the same numbers – he would tend to be less generous in his grades for the performance of policy initiatives under the current regime. Regarding the Covid-19 shock, Ghatak contends that to th...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021

Fiscal rules during the Covid-19 pandemic

Several countries have amended their fiscal rules to provide for additional public spending, in order to revive their economies that have been adversely hit by the pandemic. This post examines the fiscal strategies to deal with the Covid-19 shock of a set of countries that belong to the G20 group or...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021

The Indian economy and policymaking: Towards ‘openness’

Providing his perspective on the recent policy paper by Subramanian and Felman, Nirvikar Singh contends that more emphasis is needed on financial reforms and innovation, addressing India’s export slowdown, and enhancing digital connectivity. In his view, greater transparency and openness to critic...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021

Obituary: Dr Shaibal Gupta

Dr Shaibal Gupta, IGC India’s Bihar programme head, sadly passed away on 28 January 2021. He was one of India’s pre-eminent social scientists, widely regarded as the leading expert on the economics and politics of Bihar.

  • Articles

Content Type: Articles
Topic: Miscellany
Year: 2021

State of the Indian economy: Diagnosis and recommendations

Arvind Subramanian (India’s former Chief Economic Adviser) and Josh Felman (former IMF Resident Representative to India) have brought out a new policy paper, offering a diagnosis of the Indian economy and recommendations for the forthcoming budget. In this post, Ashok Kotwal (I4I Editor-in-Chief) ...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021

“New Welfarism”: Old wine, new bottles?

Commenting on the recent policy paper by Subramanian and Felman, R Nagaraj contends that the authors imaginative re-branding of the erstwhile ‘populist schemes’ as “New Welfarism of the Right” is an endorsement of the current government policies, without contending with burgeoning evidence o...

  • Perspectives

Content Type: Perspectives
Topic: Macroeconomics
Year: 2021