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How open is India's capital account?

Although India began opening up its capital account in the mid-1990s, the approach towards financial liberalisation has been cautious. Tracing changes in the de-facto openness of the country’s capi...

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India’s service-led economic growth

Structural transformation that involves a shift from agriculture straight to services, is a cause of concern to many scholars as an expanding service sector might be a pale substitute to technical pro...

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Business sentiments and labour markets

The Covid-19 pandemic and associated lockdowns have had a significant adverse impact on jobs and livelihoods. Using 2006-2021 data from a survey on business sentiments, this article examines fluctuati...

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Losing one half of India's demographic dividend

The working-age population in India is set to increase by more than 200 million over the next two decades. This column contends that India may fail to reap the benefits of this demographic dividend b...

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Why food inflation has been high in India

The persistently high food inflation witnessed in India over the past few years has been a cause for concern. This column seeks to identify the major drivers of food inflation in India, and to evalua...

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Can MNREGA improve credit worthiness of participating households?

Based on household survey data from West Bengal, this column analyses the impact of MNREGA on economic outcomes of participating households. It finds that the ‘local’, ‘guaranteed’ and ‘gov...

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How exchange rate changes impact Indian manufacturing firms

After falling to its lifetime low of 68.85 against the dollar in August last year, the Rupee has now appreciated to breach the 60-per-dollar mark. This column explores the impact of currency movement...

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How innovations in telecom can promote inclusive growth

Applications of Information and Communications Technology, such as mobile banking, have potential to promote inclusive growth and equity. This column analyses conditions under which innovations in IC...

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Why taxing property is essential for local government accountability

With rapid decentralisation and urbanisation, wealth is increasingly vested and locked up in land and property in India. In their previous article, Kapur and Subramanian emphasised the importance of ...

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Service sector growth and convergence across Indian states

India’s success story in the services sector is well documented at the national level. However, similar literature does not exist for India’s states. This column seeks to bridge this gap by looki...

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Taxation's fatal neglect?

Today, the public discourse on government finances in India is largely focused on spending. This article emphasises the importance of taxes, particularly income tax, in ensuring citizen participation...

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Can SMEs drive India's growth?

Investment, particularly by the corporate sector in India, drove high growth rates during 2003-2009. Given the expected slow and weak recovery of the global economy, Indian corporates are unlikely to...

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Understanding India's unbalanced growth

Growing regional disparities in India are a cause for concern. But little is known about the relative importance of possible reasons for the varied growth experiences across the country. This column ...

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Inflation targeting in India: Right and wrong

An RBI-appointed Expert Committee has recommended targeting a 4% inflation rate, but allowing it to vary between 2% and 6%. This column takes a different position on the target and leeway. It argues ...

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Expanding productive employment in India

While India’s relatively high growth has not entirely been ‘jobless’, employment generation has been low, and mostly in the form of informal jobs. This column examines the employment experience...

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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...

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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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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...

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