•  

Tag Search: “public finance”

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...

  • 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...

  • Articles

Challenges in decentralised implementation of centrally mandated anti-poverty programmes

Even when the central government is committed to a jobs guarantee, rationing of work opportunities can arise under decentralised implementation in poor places. This article examines India’s efforts to...

  • 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...

  • 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 ...

  • Articles

What do poor people think about direct cash transfers?

Based on a survey conducted over November-December 2018 with 3,800 respondents in rural Bihar, Khemani, Habyarimana, and Nooruddin present descriptive evidence on what the poor citizens of India think...

  • Perspectives

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...

  • 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...

  • 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...

  • 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 ...

  • 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...

  • Perspectives

NYAY e-Symposium: Not long-term solution to poverty but useful ‘first-aid’

Maitreesh Ghatak (Professor of Economics, London School of Economics) contends that a cash transfer, as envisaged by NYAY, will provide some relief and a safety net to the poor living on the margins o...

  • Perspectives