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Macroeconomics

Budget 2022-23 and outlook for the Indian economy

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Budget 2022-23: Hits and misses

Outlining the hits and misses of the Budget 2022-23, Rajeswari Sengupta contends that the capital expenditure push by the government seems to be a step in the right direction, while the rationale behi...

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Of twists and turns: Monetary policy and ‘term premium’

As India’s economic growth slowed down in recent years, the reliance on monetary policy to stimulate growth increased significantly – especially during the pandemic. Analysing data from 2018-2020,...

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Growth in India: Narratives and evidence

There are various narratives on the trajectory of India’s economic growth, and its key determining factors. This article analyses the recently released GDP data series at 2011-12 prices, extending b...

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The electoral consequences of India’s demonetisation

It is widely believed that there may have been little or no electoral consequences of India’s demonetisation in 2016. This article analyses voter behaviour following demonetisation. It finds that pl...

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Union Budget 2020 and India’s economic future

In this post, Nirvikar Singh discusses what we can learn from the recently presented Union Budget about the possible direction of India’s economy. He contends that, though the Budget is positive in ...

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Union Budget 2020: Preference for infra spending, divestment, and directing resources to middle class

Finance Minister Nirmala Sitharaman presented the Union Budget for 2020-21 on 1st February – at a time when economy is facing an economic slowdown. In this post, Niranjan Rajadhyaksha contends that ...

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Fiscal policy and economic activity in South Asia

The Indian economy is currently experiencing a sharp slowdown, and the government has reacted with corporate tax cuts and a large infrastructure initiative. Using annual data from 1987-2017 for six So...

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Taxation and supplier networks: Evidence from India

Do tax systems distort firm-to-firm trade? This article considers the effect of tax policy on supplier networks in the state of West Bengal in India. It finds that on average, firms buy 12% more from ...

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How India’s growth bubble fizzled out

India’s GDP growth has slowed sharply from 8% per annum last year to 5% in the second quarter this year. In this post, Ashoka Mody contends that the ongoing slowdown is not a short-term disruption; ...

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The need for a total overhaul of the GST regime

The Goods and Services Tax (GST) Council met in Goa in September 2019 to find a way to boost the weakening Indian economy. The Council recommended reductions in GST rates for certain categories of goo...

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Should low-income countries open up to foreign capital? The India experiment

In 2001 and 2006, India introduced the automatic approval of foreign direct investments of up to 51% of domestic firms’ equity to industries in which foreign investment was initially restricted. Thi...

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Does the current economic slowdown warrant a fiscal boost?

The Indian economy is going through an economic slowdown. Several economists have made a case for an expansionary fiscal policy to deal with the slowdown. In this post, Gurbachan Singh argues that it ...

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Tapping the revenue potential of property tax in India

Property tax, levied on ownership of any real property, is a significant source of revenue for city-level municipal governments in India. However, revenue collections from it are quite low as it is po...

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Cash and the economy: Evidence from India’s demonetisation

‘Demonetisation’ announced in India in December 2016 made 86% of cash in circulation illegal tender overnight, with new notes gradually introduced over the next several months. This article combin...

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What should we do about the Indian economy? A wide-angled perspective - IV

In the previous part of this series, Ashok Kotwal and Pronab Sen traced the genesis of the present economic slowdown. In this part, they discuss the way forward to arrest the slowdown. They suggest a ...

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Parantap

Parantap Basu

Durham University

Ashok

Ashok Kotwal

Editor-in-Chief, I4I; University of British Columb

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Pronab Sen

IGC India

Rajeswari

Rajeswari Sengupta

Indira Gandhi Institute of Development Research

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R. Nagaraj

Centre for Development Studies

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Amartya Lahiri

University of British Columbia

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Pratap Ranjan Jena

NIPFP

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Abhishek Singh

Indian Institute of Technology, Delhi

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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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