Tag Search: “fiscal policy”
Would RBI fund transfer weaken government's financial position?
The Reserve Bank of India (RBI) recently decided to transfer Rs. 1.76 trillion to the Government of India (GOI). If the RBI has inadequate capital, then it should not transfer funds to the GOI. But ev...
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Gurbachan Singh
02 September, 2019
- Perspectives
Public debt through the ages
The history of sovereign debt evolved over time along with the purposes for which governments borrowed: first State-building, then public-good provision, and most recently social welfare and entitleme...
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Barry Eichengreen
Asmaa El-Ganainy
Rui Esteves
Kris James Mitchener
30 August, 2019
- Articles
Why external sovereign debt should be avoided
The Finance Minister of India, in her 2019 Budget speech, announced the government’s intent to finance a part of the fiscal deficit by issuing sovereign bonds in the international financial markets. T...
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Pronab Sen
29 July, 2019
- Perspectives
Government securities market: Price discovery and the cost of Indian government borrowing
The government securities (G-Secs) market has substantial effects on other markets as the producer of risk-free interest rate benchmarks. Over 2017-18, there was a sharp rise in the interest rates of ...
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Ashima Goyal
15 July, 2019
- Articles
Agriculture and the Union Budget: policies and prospects
In this post, Shoumitro Chatterjee and Mekhala Krishnamurthy analyse the key proposals in the Union Budget 2019 pertaining to reforms in agricultural market, ease of doing business for farmers, and ag...
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Shoumitro Chatterjee
Mekhala Krishnamurthy
09 July, 2019
- Articles
Union Budget 2019: An attempt to address the economy’s stress points
In this post, Niranjan Rajadhyaksha contends that in the first Budget of the second Narendra Modi administration, Finance Minister Nirmala Sitharaman has made an honest attempt to address some of the ...
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Niranjan Rajadhyaksha
08 July, 2019
- Perspectives
The great disinflation in emerging and developing economies
Emerging market and developing economies (EMDEs) have achieved a remarkable decline in inflation since the early 1970s. Whether EMDEs can continue enjoying the benefits of low inflation will depend on...
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Jongrim Ha
Ayhan Kose
Franziska Ohnsorge
17 June, 2019
- Articles
NYAY e-symposium: Tool for addressing multidimensional poverty
Ashwini Kulkarni (Director, Pragati Abhiyan) puts forth the view that an unconditional income transfer programme like NYAY can help address multidimensional poverty and enable the most vulnerable amon...
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Ashwini Kulkarni
03 May, 2019
- Perspectives
NYAY e-Symposium: Prioritise expansion of National Social Assistance Programme
Dr Pronab Sen (Country Director, IGC India) argues that the first priority should be to expand existing social security, which covers the elderly, the handicapped, and widows – given the fact that muc...
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Pronab Sen
03 May, 2019
- Perspectives
NYAY e-Symposium: Crucial to look into taxes for financing
Prof. S. Subramanian (National Fellow, Indian Council of Social Science Research) emphasises the importance of dealing directly with the question of enhanced taxation and some estimate of the likely o...
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S. Subramanian
03 May, 2019
- Articles
NYAY e-Symposium: The potential macroeconomic impact of NYAY
Niranjan Rajadhyaksha (Research Director and Senior Fellow at IDFC Institute) contends that the estimated cost of NYAY is substantial and there is ample reason to worry about the fiscal burden of the ...
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Niranjan Rajadhyaksha
02 May, 2019
- Perspectives
NYAY e-Symposium: Getting targeting right
Karthik Muralidharan (Tata Chancellor's Professor of Economics, University of California, San Diego) recommends targeting the 20% of poorest blocks in the country under NYAY, and making the cash trans...
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Karthik Muralidharan
02 May, 2019
- Perspectives