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Budget 2022-23 and outlook for the Indian economy

Several commentators have lauded the recently presented Budget 2022-23 as a ‘growth budget’, on account of the large allocations made for capital expenditure on public infrastructure. On the other...

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Assessing the credibility of sub-national budgets in India

The Covid-19 crisis has put immense pressure on the finances of Indian states. Fiscal consolidation in the post-pandemic period will depend on growth revival, increased fund flows, and efficient budge...

  • Perspectives

Budget 2021-22: A passing grade

Assessing the 2021-22 Union Budget, Bhaskar Dutta argues that while there are several positive features, the overall thrust is disappointing because it does not address the needs of the poor.

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‘Nowcasting’ the Indian economy: A new approach to know the now-GDP

Bhadury and Pohit describe NCAER’s new ‘nowcasting’ model, which seeks to predict India’s GDP numbers at frequent intervals − typically on a monthly or quarterly basis − by exploiting the ...

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Does mandatory CSR expenditure affect firm value? Evidence from Indian firms

Section 135 of the Companies Act, 2013 mandates all Indian firms above certain size or profit threshold to spend at least 2% of net profit earned in preceding three years on Corporate Social Responsib...

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The challenge of job creation

The process of economic transformation that entails labour transitioning from low- to high-productivity activities, been much slower in India than in other Asian countries like China. Why is this so ...

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Waiting for jobs

Assessing the extent of job creation in India is constrained by lack of comprehensive, real-time employment data. This column presents statistics from a detailed analysis of multiple data sources and ...

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Is small beautiful? A critical evaluation of MSME policy and performance in India

Micro, small and medium enterprises (MSMEs) have significance in a labour-abundant country like India, and various policies are in place to promote the sector. Analysing MSME data from various sources...

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Structural transformation and spillovers from ‘Industrial Areas’

A defining feature of economic development is the reallocation of labour from subsistence agriculture to manufacturing. To shed light on this process, this column analyses Karnataka’s Industrial Are...

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Land records and titles in India

Land ownership is broadly determined by access to a land title, which protects the rights of the title-holder, and impacts livelihoods, and industrial, economic, and social growth. However, land title...

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Forecasting growth in times of transition

As per official data released on 31 August 2017, the Indian economy grew at 5.6% in the first quarter of the current fiscal year – in congruence with forecasts of National Council of Applied Economi...

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Why are geniuses destroying jobs in Uganda?

In this article, Lant Pritchett discusses how technological progress is being driven in rich countries by distorted prices and availability of labour and is then inefficiently and uneconomically destr...

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Production responses and tax evasion with limited State capacity: Evidence from major reform in India

Although VAT eliminates the double taxation of inputs of the retail sales system, which enhances growth, it may increase the number of firms in the informal sector. This makes it very important, from ...

  • IGC Research on India

Production Responses and Tax Evasion with Limited State Capacity - Evidence from Major Reform in India

This project explores: what is the effect of switching from a retail sales tax to a VAT in a country with limited tax capacity and a large informal economy? The project explores this question through...

  • IGC Research on India

GST Explainer: Value Added Tax 2.0

Aprajit Mahajan (UC Berkeley) and Shekhar Mittal (UCLA) outline some features of the GST that attempt to address the challenges of implementing a VAT system in India

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Recent Contributors

Chetan

Chetan Subramanian

Indian Institute of Management Bangalore

Rachel

Rachel Cho

University of Nottingham

Rodolphe

Rodolphe Desbordes

SKEMA Business School

Markus

Markus Eberhardt

University of Nottingham

Parantap

Parantap Basu

Durham University

Ashok

Ashok Kotwal

University of British Columbia

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Most Popular Macroeconomics Posts

Land in India: Market price vs. fundamental value

The Real Estate (Regulation and Development) Bill, 2015, is focused on protecting the few home buyers who can afford to buy homes but does not address the issue of high land prices, which is a very se...

  • Articles

Land records and titles in India

Land ownership is broadly determined by access to a land title, which protects the rights of the title-holder, and impacts livelihoods, and industrial, economic, and social growth. However, land title...

  • Perspectives

Covid-19: Macroeconomic implications for India

Due to the measures adopted to prevent the spread of the Coronavirus Disease 2019 (Covid-19), especially social distancing and lockdown, non-essential expenditures are being postponed. This is causing...

  • Perspectives