Publications : All
Topic
Getting India’s Growth Priority Right
Janak Raj underscores India's imperative to prioritise human development hand in hand with economic growth.India’s Urban Imperatives
With his wealth of experience, Om Prakash Mathur distils insights and wisdom on urbanisation in one comprehensive compilation, making it a must-read along with his earlier bookPath for Inclusive India Lies in Decentralisation
Green growth cannot be an afterthought. We need to promote climate-resilient agriculture, regulate construction, and community-led action for lifestyle changes.Sri Lanka & Bangladesh Look East
The shifting sands of the South Asian trade landscape may be worthy of some serious reflection for India’s regional trade strategy.India’s Missing Jobs — and Where the Next Government can Find Them
We are staring at an employment crisis, which could get worse. But with policy support that could change.Developing World Must Raise Own Climate Finance
Developed countries and MDBs can raise just a third of the requirement. Carbon pricing and ETS will have to play a bigger role.Beyond PLI Targets
A comprehensive strategy is needed to propel India’s manufacturing capabilities.Interview | ‘Developing Just a Small Part of City as Smart...
Om Prakash Mathur talks about how India needs to manage its urban growth much faster, how the programme to develop smart cities has not helped and how, despite successive Finance Commissions recommending increasing the grant-in-aid to our municipalities.Interview | Navigating India’s Urban Challenges
India's leading urban scholar and the author of "Changing Paradigms of Urbanisation: India and Beyond" Om Prakash Mathur reveals how rigid urban land and labour markets have actually slowed down the rate of India's urbanisation.The Long Road to Liberalisation
Laveesh Bhandari reviews "Stumbling Into Reforms (1977 to 1998)" the second volume of "India's Finance Minister" series by AK Bhattacharya.The Dip in Private Medical Colleges
Apart from being churned frequently, the regulatory norms entail high capital and operating costs.Consumption Trends and Monetary Policy
The falling share of food in households’ spending will help, given food inflation also drives inflation expectations.Podcast | Why are house prices so high in India?
In this episode, Shishir Gupta discusses the factors behind the high cost of housing in India and suggests possible solutions.Behind the rise in Rural Consumption Spending
The National Rural Livelihood Mission, better targeting and delivering of benefits, wider reach of digital infrastructure have contributed to the spurtIndonesia & Pakistan: Not Two Peas in a Pod
Unlike Pakistan, Indonesia has harnessed its natural advantages to nurture a sustainable growth trajectory.Interview | Can private capex offset govt spend curbs in FY25?
Shishir Gupta provides insights into the RBI urging the private sector to take over the responsibility of driving capex. Could it slow down the momentum of govt capex in FY25?The Real Reason Middle Class Indians Can’t Afford to Buy Homes — and...
The first step in improving affordability is to release land supply in a planned and transparent manner. This will increase competition and put pressure on prices.Emerging Markets and Developing Economies in the Global Financial Safety...
The authors argue that there is a need to extend and facilitate access to the ultimate global financial safety net layer: the IMF. We illustrate that by pointing out how Morocco and Mexico have boosted their defensive power by having access to IMF precautionary lines of credit.Is Cutting UK Taxes Ahead of a General Election Affordable or Not? An...
The possibility of tax cuts in the upcoming budget is being speculated widely in the UK. But can the British economy afford them?Interlinkages Between Economic Growth and Human Development in India: A...
This study explores the relationship between economic growth and non-income components (health and education) of the Human Development Index (HDI) for 26 Indian states during the period from 1990 to 2019.Riding the Tracks of Time: Indian Railways – An Unfinished Revolution
In this paper, Jaimini Bhagwati and Shalini Chauhan trace the legacy of India's railway system, its expansive growth, and ongoing challenges.Ukraine War, Gaza Conflict and Middle East Strikes: It’s Time Businesses...
Vikram Singh Mehta advises businesses to integrate scenario planning into risk management processes to tackle political risk in an increasingly uncertain global context with upcoming elections in several countries.External Engagements in January 2024
Laveesh Bhandari gave a lecture at the Indian School of Public Policy on January 31, 2024. He shed light on the dynamic nature of public policy and the importance of embracing diverse perspectives and disciplines to tackle real-world problems effectively. | Jan 31 Rajesh Chadha chaired a panel session on “Strategies and ...Decoding India’s FTA Journey: What does the Future Hold?
As the global trade policy has moved away from World Trade Organisation (WTO) led multilateralism, towards Regional Trade Agreements, this blog tries to understand the evolution of India’s Regional Trade Agreement (RTA) strategy.The Importance of ASEAN for India
The evolving regional trade context should be the primary guiding factor for the AITIGA review.Interview | Should India-Pakistan Trade Resume?
Sanjay Kathuria discusses obstacles hindering India-Pakistan trade and explores insights on sensitive lists, solar partnerships, and a USD 37 billion trade potential.On a Sobering Note
The International Monetary Fund’s deep dive into global trade fragmentation and restrictiveness shows lasting consequences of raised costs, feeding into inflation and weakening growth.Why are We Staring at a Global Debt Problem Yet Again?
Hidden debt is a major problem across the world that the G20 Data Gaps Initiative needs to resolve, writes Anoop Singh.A Disconcerting Slowdown: Depressing Consumer Demand Dulls the Shine of...
Private final consumer expenditure (PFCE) growth is estimated tumbling to 4.4% this year from 7.5% in FY23, and one-third its growth rate at the recovery peak in FY22, 11.2%.Podcast | Trade Ties: Exploring South Asia’s Evolving Geopolitical...
Sanjay Kathuria discusses how the geopolitical competition in South Asia is influencing trade relations and policies of the states engaged in the region.Ensuring the Credibility of India’s GDP Estimates
Two pressing issues have reignited the debate about the credibility of India’s GDP growth rate.External Engagements in December 2023
Rakesh Mohan was panelist for the session on “India, Pakistan and Bangladesh: Where did their growth trajectories diverge?” at the Pathways to Development Conference hosted by CDPR | Dec 18 Constantino Xavier and Riya Sinha presented their paper on “Strengthening India’s Land Linkages Around the Bay of Bengal” at MP-IDSA’s 15th ...Improving Healthcare Access to Address the Rise in Non-communicable...
The authors outline the incidence of diseases in Indian states over the last two decades, and the role that the PMJAY programme plays to alleviate constraints to healthcare accessInterview | A GDP Growth Rate of 7.5% for the Next 10 years is Feasible...
Montek Singh Ahluwalia, former Deputy Chairman of the erstwhile Planning Commission says India needs a better export strategy to take advantage of the shift in global demand away from China.On a High
It must be noted that the demand signs are not unqualified. Private consumption, the prime driver for fresh business plans and investments, is not as correspondingly upbeat as the moodInterview | Dual Control of PSBs by Finance Ministry & RBI is Wrong:...
The veteran economist said that the ultimate responsibility of regulating a PSB, including removing the Chairman, if necessary, should rest with the RBI, as is the case with private banks.Interlinkages Between Economic Growth and Human Development in India: A...
India must significantly increase its public spending on health and education, and ensure its effective targeting. This would reduce people’s out-of-pocket expenses, allowing them to allocate funds to their other crucial needs and strengthen the interlinkages between human development and economic growth.New Creditors, Differing Interests and Coordination Issues are Hobbling...
An IMF analysis suggests that several low-income countries (LICs) have been at high risk of debt distress or are in debt distress. Between 2010 and 2022, interest payments on both domestic and external debt of developing countries increased by 64%, and of African countries by 132%.Tax Buoyancy: Too Noisy for Signals
This paper focuses on tax buoyancy, which includes discretionary policy changes, to examine how the historical relationship of tax revenues with income may have been disturbed by exceptional shocks.Compensating for the Fiscal Loss in India’s Energy Transition
The study argues for the need to consider multiple factors, including efficiency, equity, sustainability, institutional considerations, and the possibility of reducing expenditures on non-essential goods.External Engagements in November 2023
Riya Sinha was panelist at the discussion on “Improving India’s Ease of Trading Across Borders: Opportunities and Challenges in Integrated Check Posts”, at Land Ports Authority of India | Nov 22 Rahul Tongia was invited for the expert discussion for COP28 with the Minister for Environment, Forests, and Climate Change, New Delhi ...Assessing the Impact of CBAM on EITE Industries in India
This research specifically focuses on the uncertainties surrounding the potential impact of CBAM on trade-exposed sectors with high energy intensity, particularly in developing countries like India.Interview | Unlocking Africa’s Job Creation Potential: Insights from...
The interview provides valuable insights into the complexities of the African job market and potential pathways to overcome its challenges.Rekindling Corporate Investment
To achieve the levels seen in 2008, it is essential to increase corporate productivity, write Shishir Gupta and Rishita Sachdeva.How to Maximise the Advantage of India’s Young Population
India could dominate the global labour force by 2030 if it’s able to effectively utilise its growing young population.Then and Now
CSEP Senior Fellow Renu Kohli provides a comparative illustration of the domestic context of the Indian economy then and now to identify critical aspects that could potentially affect the translation of high expectations into actual outcomesA Report on Voluntary Health Insurance in India: A Bridge Towards...
Madhurima Nundy and Pankhuri Bhatt's paper presents a detailed review and analysis of India’s health insurance landscape, with a focus on voluntary health insurance (VHI).Act with Urgency to Reform the International Monetary System
An IMF restructured to function more equitably would reinforce its role in global monetary and financial governance.Quota Reform is an Opportunity for the IMF to Restore its Legitimacy
As the IMF strives to complete the 16th General Review and works towards some agreement on quota realignment as part of the 17th General Review, the IMF Board of Governors should strive to reach a consensus on three fundamental changes to the IMF’s resources and governance.External Engagements in October 2023
Rajesh Chadha was a panelist on a webinar hosted by CEEW and the Ministry of Mines titled “Decoding the G20 Consensus on Critical Minerals for the Energy Transition” | Oct 31 Madhurima Nundy was a discussant at the conference on “Integrating Health and Social Care Services for the Elderly in Asia: A ...House Prices in India: How High, and for How Long?
Shishir Gupta, Nandini Agnihotri and Annie George shed light on the state and dynamics of house prices in India by leveraging a unique dataset that gives house prices over the past 30 years.Curing the States’ Doctor Deficiency
The challenge is the production and distribution of doctors. The doctor availability across states is very variable, and there are numerous factors driving this: state’s economic status, public health expenditure, expenditure on medical education.Report card
Despite a pandemic, war, higher cost of living and interest rates, economic activity has not stalled or fallen into recession even as inflation continues to decelerate, writes Renu Kohli.The Essential Reform of the International Monetary System
Anoop Singh elaborates the essential pillars of a radically renovated International Monetary Fund (IMF) to face the challenges of the future.The Essential Reform of the International Monetary System
Anoop Singh, Bernard Snoy and Michel Camdessus analyse the need to reform the international monetary system.India Needs More Doctors — and How It Can Happen
The goal of equity requires attention to incentives and encouraging migration to low-availability areas rather than restricting production. The policy focus, therefore, should be on addressing the barriers to scale.How to Reverse the Longest Downturn in Corporate Capex
Corporate investment, which plays a critical role in driving economic growth, has been in a slump in India for more than a decade. This op-ed analyses the behaviour of corporate savings and investment since 2007-08.Mind the Financing Gap
The total flow of financial resources to the commercial sector, which provides a good grip on the strength of the real economy, is compiled by the central bank.External Engagements in September 2023
Rajesh Chadha, Ganesh Sivamani and Karthik Bansal presented their work on critical minerals at the 19th Central Geological Programming Board (CGPB) Committee-III meeting hosted by the Ministry of Mines. CSEP has also been nominated as one of the permanent invitees to Committee III on Non-Ferrous and Strategic Minerals | Sept 29 Rajesh ...Improving Data Quality a Prerequisite for Regulating States’...
If such data were to become available, markets could more effectively reward or punish governments at the Centre and states for their borrowing behaviours, write Kevin James and Shruti Gupta.Interview | Is India the Next Big Economic Power?
A happy convergence of circumstances and trends have created a perfect launchpad for India’s global economic ambitions. Unless there are some unexpected surprises, this trajectory, already underway, will fundamentally transform India.Geopolitical 20
Time will tell if the geopolitically-driven initiatives prove economically sound, resolve the global debt-cum-climate challenges, and help invigorate the world economyG20’s Inclusive Thrust Should Extend to Global Governance on Health...
The inability of global governance to impose checks and balances to ensure that the health needs of less endowed countries are served is worrying, writes Sandhya Venkateswaran.Nepal-India Transit Trade Ties Can Unlock Economic Opportunities,...
Nepal and India have renewed their transit trade agreement, improving Nepal's access to Indian sea ports and inland waterways, boosting supply chain resilience. This also marks potential breakthroughs in cross-border electricity trade and digital payments.Interview | Montek Singh Ahluwalia on G-20
Montek Singh Ahluwalia discusses India's G-20 meeting with ANI News.The State of Urbanisation: Yesterday, Today and Tomorrow
Rakesh Mohan's valedictory lecture at IHD recommends devising policies to encourage research to study the phenomenon of industrialisation and urbanisation in India, for manufacturing to be located in towns and cities and calls for a unified system of governance.Let us Deploy Fiscal Federalism Against Climate Change
By strengthening the role of fiscal federalism in addressing climate change, it would enable India a more effective utilisation of financial resources (includin funds raised by green bonds), enhance state capacities, promote policy coherence and drive sustainable development across the country.Is India the World’s Next Great Economic Power?
Is India’s economic rise inevitable? There’s good reason to think that this latest round of Indo-optimism might be different than previous iterations, but the country still has major challenges to address to make good on this promise.External Engagements in August 2023
Rakesh Mohan met the Finance Minister of India Nirmala Sitharaman at the North Block, New Delhi on August 25. Madhurima Nundy attended a workshop at the India International Centre for a project titled “Public-Private Mix in Continuity of Care for Older Persons: Study of Select Countries in ...How to Fix Holes in the Financial Safety Net
In absence of significant governance reform, effectiveness of global financial safety institutions is eroding. India is better off relying, instead, on pursuit of prudent macroeconomic policies.Environment Policy Needs Federalism to Play a Big Role
How well central and state-level administrations coordinate climate action will determine key outcomes, writes Anoop Singh.Lessons from the Legacy of a Scientific Stalwart
India's renowned technologist, VS Arunachalam leaves behind a legacy of scientific accomplishments and institution-building efforts, writes Rahul Tongia.Institutions, Organisations, and Governance to Promote Road Safety
This Policy Brief by Rakesh Mohan discusses the need for a system view to address a host of road safety issues through research and development.NRF: What Research Should be Funded?
An effective National Research Foundation would prioritise excellence over relevance, support a wide range of projects, and stress funding millions of individual researchers.Another Step Back
India’s objective has been to narrow the trade deficit with China by manufacturing at home. The tariff-raising, safeguard duties have explicitly and systematically targeted lower imports.Out-of-pocket Health Expenditure in India: Inter-state Variations
In this op-ed, Janak Raj and Harshini Kumari explain the large inter-state variations in out-of-pocket expenditure (OOPE) on health in India.Trade: A Call to Action for Rapid Growth
For India to attain high-income status by 2047, it must urgently prioritise trade as the primary driver for achieving accelerated growth.Interview | Share Bazaar RBI Policy के बाद गिरा!
Janak Raj on RBI Monetary PolicyInterview | Tech Import Curb Regressive, Doesn’t Augur Well for Future
We have to be connected to the Asian supply chain for us to be competitive in manufacturing of laptops, desktops, tablets and other computer equipment. That is what we need to do rather than shutting them off.Interview | Laveesh Bhandari on Manufacturing Competitiveness
Post-1991 reforms did not achieve intended results, manufacturing competitiveness still a challenge, says Laveesh Bhandari.Emerging Inflation Dynamics: The Past Could be a Poor Guide for Future...
In food-price management, factors that could hinder the government’s efforts seem to have been ignored, writes Renu Kohli.Medical Education in India: A Study of Supply-Side Dynamics
The paper argues for a rethink of the existing regulatory and policy requirements pertaining to setting up and, more importantly, scaling up medical colleges, in order to ensure a greater number of seats per college, and for a more equitable distribution of seats.External Engagements in July 2023
Constantino Xavier was speaker at the India-Japan Forum hosted at Ananta Aspen Centre | July 28 Constantino Xavier was a panelist at the launch of the CSEP edited report “Connectivity and Cooperation in Bay of Bengal” organised by Verité Research, Colombo, Sri Lanka | July 24 Constantino Xavier discussed CSEP’s Sambandh ...Voluntary Health Insurance and its Expansion
Madhurima Nundy and Pankhuri Bhatt write about the challenges to voluntary health insurance and its expansion.Are We Ready for HPV Vaccines?
India cannot afford to let women suffer and then perhaps die of the most curable cancer. Important here is to also strategize vaccination with regular screening for women aged 30 and above.For More Bang for the CSR Buck, Change the Rules
Any activity with a longer-term perspective takes time to show desired results. However, the CSR mechanism requires companies to report on the allocation and a detailed impact assessment, says Laveesh Bhnadari.Health System Reforms for Universal Health Coverage: Insights from Select...
This policy brief synthesises insights, relating to key challenges faced in achieving UHC, from six emerging country case studies—Brazil, China, Indonesia, Mexico, Thailand, and Turkey—with varying contexts in their journey towards UHC.Why India Needs to Look Beyond Logistics to Improve its Manufacturing...
The government's intent is sensible, and infrastructure does seem to have improved over time. India jumped six places from 44 (2018) to 38 (2023) in the World Bank's Logistics Performance Index (LPI). However, there are two main fallacies in the argument that puts disproportionate importance on logistics cost as a key reason ...Commodity Prices and the Twin Balance Sheet Crisis
Abhishek Kumar and Divya Srinivasan use data from India (the second-largest steel producer in the world) to estimate the effect of large movements in metal prices during 2011-16.Locate the Many Indias
Do not presume the business models that have worked for you elsewhere will be successful in India: Vikram Singh Mehta to potential investors.External Engagements in June 2023
Riya Sinha was a panelist at ORF Kolkata’s discussion on India and Bangladesh’s Vision of the Indo-Pacific | June 30 Rakesh Mohan was speaker at the discussion organised by Boston University IMF Task Force on Climate Change at IMF, Washington DC | June 21 Laveesh Bhandari was speaker at the webinar on ...An Analysis of Off-Budget Borrowings by Indian Governments and their Legal...
Shruti Gupta and Kevin James examine the regulatory framework and institutional gaps surrounding off-budget borrowings in India.Economic Growth and Human Development in India: Are States Converging?
This Working Paper examines the key aspects of the relationship between economic growth (EG) and human development (HD) at the all-India and the state-levels.Ban Pan-masala Promotions
Jaimini Bhagwati writes about the dangers of celebrities advertising pan masala and how it can impact the youth.Assessing the Potential of Telemedicine in Health Care Services
Addressing concerns such as differences in data-sharing rules and guidelines, building a robust digital infrastructure, streamlining accreditation and qualification of doctors etc. can aid in telemedicine gaining widespread acceptance.Health Among Top Three Priorities for Indian Voters After Jobs and...
This suggests that political leaders may gain electoral capital from prioritising health in their election campaigns and during their terms in office.Finance Ministers and their Balancing Acts
Laveesh Bhandari reviews AK Bhattacharya's book "India's Finance Ministers: From Independence to Emergency (1947-1977)".View: Time to Make RERA Roar
Channels of information flow in real estate are limited; buyers rely on the media, intermediaries or hearsay to obtain information. This leaves buyers in the dark, impeding their ability to distinguish between good- and bad-quality housing. Ill-equipped with little to no information, they may purchase homes mired in litigation.Tax Buoyancy: Too Noisy for Signals
Renu Kohli's Discussion Note discusses three significant reasons why the observed tax buoyancy in the recovery year, FY23, must be interpreted with caution.Health and democracy in India: Do voters care about health?
Oliver Heath, Jyoti Mishra, Louise Tillin & Sandhya Venkateswaran examine how Indian citizens view health through a five-state survey on electoral perceptions around health in IndiaWe Must Incentivise Household Savings for a Fast Economic Growth
Shishir Gupta and Rishista Sachdeva suggest the need to push for household savings to acheive accelerated growth on a sustained basis.The Nature and Implications of Off-Budget Borrowings in India: Centre and...
Shruti Gupta and Kevin James examine the regulatory framework and institutional gaps surrounding off-budget borrowings in India. It attempts to build a comprehensive understanding on the methods used for such borrowings and ascertains their true extent.New Custodians of Corporate Governance
Private firms should fill the vacancies of independent directors with those who are younger, technically savvy, with domain knowledge to tackle future uncertainties, writes Vikram Singh Mehta.Asia Needs to Focus on Productivity to Lead Global Growth
Sustained productivity growth would be better driven by technological capital deepening with related organisational changes and increased competition that can result in more efficient methods of production, says Anoop Singh.External Engagements in May 2023
Shivshankar Menon was decorated with the Order of the Rising Sun, Gold and Silver Star. He was felicitated by Suzuki Hiroshi, Ambassador of Japan to India. | May 26 Rakesh Mohan gave the address at the inaugural session of the CII Conference on Consumer Credit & Finance. | May 26 ...Do Mandatory Disclosures Squeeze the Lemons? The Case of Housing Markets...
The paper demonstrates that a mandatory disclosure law on housing projects can have important, pro-efficiency effects in a developing country, and suggests that such laws may be efficient in a regime of low-state capacity.The Case for Investing in Digital Public Infrastructure
Bhaskar Chakravorti lays out 8 qualities of successful Digital Public Infrastructure (DPI) projects, and how the public and private sectors can coordinate to build them.The UK a Tax Haven?
Is the UK providing refuge to India's absconding financial scamsters? Jaimini Bhagwati examines.Universal Health Coverage – The Goal’s Nowhere in Sight
With the National Health Accounts suggesting poor expenditure on health, it is hard to assess when and how the Universal Health Coverage goal will be achieved, writes Janak RajGovt’s Increase in Health Expenditure a Welcome Step. But Indians are...
Analysing the GHE and OOPE data at national and state levels shows the need for deeper inquiry. The attribution of increased govt spending to declining out-of-pocket expenditure isn't apparent, write Alok Kumar Singh and Sandhya Venkateswaran.Towards a National Innovation System
Indian industry must see R&D as its way of building a future based on proprietary technology, writes Naushad Forbes, member of CSEP Board of Directors.Leaders of Tomorrow: Expert Panelists Predict India’s Economic...
The discussion touched on many important aspects of India's growth trajectory, and the panelists agreed that India is poised for significant growth in the next 20-30 years.External Engagements in April 2023
Rahul Tongia discussed the need for an equitable global energy transition with Sunita Narain, Director General, Centre for Science and Environment and Greg Muttitt, Energy Economist, IISD on April 19. Rajasekhar Devaguptapu gave a presentation on ‘Electricity Tariff Reforms – Case Study on India’ to a delegation from the Government of ...Our Budget Speeches Capture the Evolution of Government Policy
From ‘an idea whose time has come’ to ‘Digital India’, the words used in Budget speeches have set the theme for India’s economic emergence, write Ayush Khare and Shruti Gupta.Interview | Crypto Will Die a Natural Death as Investors Turn to Other...
Crypto grew because we had near zero interest rates in developed countries for an extended period so people were searching for higher returns, says Rakesh Mohan.Interview | More Financial Institutions May Fail Globally, But No Direct...
As interest rates keep increasing in the developed economies there could be some reversal of capital flows, and consequent impact on the exchange rate and the economy, Rakesh Mohan cautioned.Interview | Inflation-Targeting Framework has Clouded Thinking in Central...
Though there are multiple instruments to tackle inflation, every time there is a spike, the market expects monetary policy action, says Rakesh Mohan.The G20 must help create a global financial safety net
The challenge is to develop a carefully sequenced agenda for the next few years until political conditions allow a broader reform of the international monetary system.It’s Financial Sector Greed Again
US and European regulators ignored basic risk management. But why do regulators allow financial sector firms to gamble with depositors' money?External Engagements in March 2023
Rakesh Mohan chaired the discussion on Naushad Forbes’ book “The Struggle and the Promise” on March 30 at the India International Centre. Anoop Singh was panelist at the 2nd G20 International Financial Architecture Working Group Meeting, organised by the Government of India in Paris on March 30. Rajesh Chadha was a part ...Interview | Will RBI Raise Rates Amid Global Banking Crisis? | Rakesh...
CNBC TV18 News interview of Rakesh Mohan on whether the Reserve Bank of India (RBI) will raise the repo rates amid the global banking crisis.Our New Trade Policy Must Calm Fears of Rising Import Restrictions
Trade restrictions may put FTAs and global value chain integration at risk; external imbalances can be addressed with other tools, says Montek Singh Ahluwalia.Interview | Geopolitical Differences and Economic Ties
Rajesh Chadha discusses economic growth and geopolitical developments for India and Korea on Arirang News.India Should Adopt Flexible, Interest Based Negotiations, Not Oppose Trade...
If India wants to achieve a growth rate of 7%-plus in the years ahead, it should also aim for a strong export performance. World trade is likely to grow more slowly in the future than it did in the past. But, even so, India should aim at expanding its exports at rates ...R&D: An Inside Job
For innovation to power economic growth, Indian industry must raise its investment in in-house R&D five-fold, writes Naushad Forbes.Bad debts of 2011-2016 could partly be pinned on a metal price crash
A majority of the firms responsible for defaulted loans between 2017-2020 constituted iron and steel businesses.Addressing gender inequlalities: India needs bold steps
India will prioritise inclusive growth and development along with women empowerment as it assumes the presidency of G20 this year. This is a desirable objective.How India Budgets to Become a Leading Power
Constantino Xavier and Riya Sinha comment on the MEA Budget and how India can become a leading power in an increasingly uncertain, competitive and complex international arena.Pressure on the Rupee Recedes
There’s no certainty if RBI will be able to replenish its forex reserve stocks. The process could be quite long drawn, says Renu Kohli.Interview | Questions on the Economy with Montek Singh Ahluwalia
Montek Singh Ahluwalia answers some pertinent questions on the Indian economy and upcoming issues.Interview | At about 5-6%, Economy Won’t Collapse but it Won’t...
Montek Singh Ahluwalia tells Outlook Business that a private sector-led economy can deliver sustained GDP growth. He also suggested a closer examination of the much touted double digit growth and cautions against protectionism.Interview | Exclusive interview with Montek Singh Ahluwalia: What to...
In an exclusive interview with Moneycontrol, Montek Singh Ahluwalia speaks on the state of the economy, and what is needed to unleash India's growth potential. and delves into the reforms needed in the external sector.External Engagements in January 2023
Constantino Xavier and Riya Sinha were speakers with LPAI Chairman Aditya Mishra at the panel discussion on regional connectivity organised by the Sushma Swaraj Institute of Foreign Service. The discussion was a part of the Induction Training Programme for IFS Officer Trainees of the 2022 batch. Divya Srinivasan presented her paper “Commodity ...Non-Performing Assets: Dented by Iron and Steel
The large decline in metal prices during 2014-16, predominantly driven by Chinese imports, made domestic firms in the metals sector uncompetitive. A decline in profitability affected the loan repayment capacity of many firms in the metals sector and they defaulted, creating non-performing assets (NPAs) for banks.The Supreme Court’s Supremacy
Jaimini Bhagwati writes about how the Supreme Court should not be challenged, yet judges should not select judges.India’s New Growth Recipe: Larger Firms
Large Indian firms are yet to become global champions. Given the global headwinds, India should focus on improving the competitiveness of these companies so that they can tap into large external markets far more than they have managed so far, say Shishir Gupta and Rishita Sachdeva.View: A more Competitive India Inc can Grow Faster and Bigger, and Capture...
There are, indeed, some green shoots visible, especially on the corporate and export front, which may help accelerate growth in the short run. However, transforming this head-start into faster long-term growth requires an improvement in competitiveness.Set the G20 Pace on Plugging Public Finance Data Gaps
Anoop Singh discusses how “data for development" will be an integral part of India's G20 presidency.India’s New Growth Recipe: Globally Competitive Large Firms
Shishir Gupta and Rishita Sachdeva analyse growth performance over a period of 26 years to understand the drivers behind India's economic growth.Indian Rupee Goes Digital
Digital currency and fail-safe wireless connectivity should have preceded demonetisation, says Jaimini Bhagwati.A Buffer Against Banking Stress
It is advisable for banks to build a counter-cyclical commodity price buffer during upswings in commodity prices which can be used during periods of downswings.The Answer for India’s Economic Recovery: Labour-intensive Manufacturing
India's economic recovery calls for a focus on labour-intensive formal manufacturing. High under-employment and poor-quality employment have hampered a much needed move away from agriculture.Meritocracy & Reservations
Has merit become a bad word in India? For India's exceptional human resources to remain in the country, it needs to phase out all caste, community, and income-based reservations, writes Jaimini Bhagwati.Watch: Rakesh Mohan on the State of the Indian Economy
In an interview to Karan Thapar for The Wire, Rakesh Mohan discussed the state of the economy six weeks before the end of the year, focusing specifically on growth, investment, unemployment, poverty, inflation and the state of the rupee.The Perils of Overestimating and Underestimating Capex Projections
States have been significantly overestimating CSS receipts. CSSs are typically co-financed by the Centre and the states, and the central grant under the CSS is only received when the states release their own contribution. Unsurprisingly, poorer states find it harder to reliably avail central CSS grants under this model.Political Motivation as a Key Driver for Universal Health Coverage
The paper separates motivation as a distinct factor for analysis because, in the absence of strong incentives, not every political opportunity may lead to attention to an issue, and finds that reforms were motivated by a need to gain political legitimacy by an incoming regime, or by its political ideology, or a ...Health System in the Kingdom of Thailand: Reforms, Achievements and...
Health systems in Thailand have been frequently researched since its reforms in early 2000s, especially in the context of health coverage (UHC).Health System in Brazil: Reforms, Transformation and Challenges
Sandhya Venkateswaran and Alok Kumar Singh traces the trajectory of health system reform in Brazil, from 1990 to 2019, and analyses the contextual factors that drove the reform process.Hindustan Times Leadership Summit 2022: Meeting Challenges of Resetting...
Hindustan Times Leadership Summit 2022: Many envisage a return to fiscal rules to strengthen credibility. But today’s situation offers an opportunity to rethink fiscal rules and the underlying fiscal frameworks.Health System in the Republic of Indonesia: Reforms, Transformations, and...
Madhurima Nundy and Pankhuri Bhatt analyse systemic transformations and studies the achievements and challenges in reforming health services in Indonesia over the years to the present.The Overvalued Rupee: Managing Exchange Rate Volatility and Forex Reserves
Since the 1950s, a cocktail of partisan domestic interests has resulted in the Reserve Bank of India and the Indian government favouring an overvalued rupee, writes Jaimini Bhagwati.What is leading economist Rakesh Mohan’s view on inflation?
How will global slowdown affect India? When will RBI's steps to rein-in inflation start show results? Rakesh Mohan answer these in a conversation with Business Standard.Do Mandatory Disclosures Squeeze the Lemons? The Case of Housing Markets
The questions this paper answers are: what is the impact of mandatory disclosure of housing quality on prices? Do mandatory disclosures have differential impact across housing sub-markets and income groups?The Political Journey of Healthcare in Select Indian States
This paper examines the political trajectory of health in five Indian states, in terms of the sociopolitical determinants of attention to health, to understand differences in health status and investments, as well as to gain insights into how health came to be prioritised in some of them, which might be instructive across ...Why NPAs Are Not Just About Bank Governance
Probing the links between twin balance sheet crisis and external commodity shocks could lead to a better understanding of the problem.Bank Credit Risk and Macro-prudential Policies: Role of Counter-cyclical...
This paper investigates the impact of counter-cyclical capital Buffer (CCyB) as a macro-prudential policy, on bank credit risk, during uncertain times, as banking sector stability is crucial in promoting financial intermediation.What Drives Media Reporting? | The Media Rumble 2022
What makes an event newsworthy? Shishir Gupta and Nandini Agnihotri shed light on what drives media reporting in this virtual session.Health Systems Reforms and Transformations: Insights from Country Studies
The Health System Reforms and Transformation: Insights from Country Studies is a series of six case studies from China, Turkey, Mexico, Brazil, Indonesia, and Thailand that trace the trajectory of health reforms and draw lessons in understanding key instruments that led to these shifts.Commodity Price Shocks and Non-Performing Assets in the Indian Banking...
Abhishek Kumar, Rakesh Mohan and Divya Srinivasan show that nonperforming assets in the banking sector and profit ratios in commodity-sensitive non-financial sectors are highly correlated with global commodity prices.‘A seed nurtured half a world away’ — What do Utah farms have to do...
UVU’s upcoming conference, “Why it Matters” connects the United Nations with the farmsteads of Utah.India’s Public Financial Management System: Need for Reforms and Way...
The paper looks at the key areas in which India needs Public Financial Management (PFM) reforms, building on the provisions of a draft PFM law prepared by an expert group and cited by the Fifteenth Finance Commission.SVAMITVA May Reinforce Inequalities in Rural India
The most serious drawback of SVAMITVA is its refusal to integrate gender into the scheme, writes Kaveri Thara.Health System in Mexico: Reforms, Transformation and Challenges
Alok Kumar Singh and Sandhya Venkateswaran trace the trajectory of health system reforms, including and prior to Seguro Popular (SP), from 2003 until 2019, and analyses the contextual factors that were instrumental in the reform process.Health System in Turkey: Reforms, Transformation and Challenges
Sandhya Venkateswaran and Alok Kumar Singh trace the trajectory of health system reform in Turkey, from 2003 to 2019, and analyses the contextual factors that drove the reform process.Health System in People’s Republic of China (PRC): Reforms,...
Madhurima Nundy and Sandhya Venkateswaran's paper outlines the salient features of health reforms in China and their impact in terms of access, utilisation and equity through a systems framework.UHC in India: Insights from Indonesia and China
Benefit coverage has to be comprehensive to include preventive, curative, rehabilitative services to ensure continuity in care, rational practices and a cost-efficient system, write Madhurima Nundy and Pankhuri Bhatt.Back in Time, Ep 2: Montek Singh Ahluwalia on India’s liberalisation
Podcast | Montek Singh Ahluwalia discuss independent India’s sociopolitical, cultural and economic history with Kunal Kamra.Towards A More Equal Society
Anchoring Change: lessons from seventy-five years of successful grassroots intervention.Where to Find Top AI Talent
As the demand for artificial intelligence (AI) grows, so does the demand for AI talent. To find diverse AI talent, companies will need to look outside the usual technology talent hubs, such as the San Francisco Bay Area.What Drives Indian Inflation? Demand or Supply
In this paper, using data from a large emerging economy, Ashima Goyal and Abhishek Kumar identify a structural shock (inflation shock) that explains the maximum forecast error variance of consumer pricesMunicipal Finance in Focus: How India can Empower its Urban Local Bodies
The low and deteriorating level of delivery of urban services needs to be addressed urgently. Cities contribute about 63% of India's net domestic product (NDP). Hence, deterioration in service delivery levels will impact their growth potential.Review: Recalibrate by NK Singh, With Select Insights from PK Mishra
A new book provides valuable snapshots of the evolution of Indian policymaking while also pointing out where policy shifts are needed.The key to economic recovery that will spur private investment to pick up
Infrastructure created through programmes such as PM Gati Shakti and the production-linked incentive scheme will allow private investment to pick up gradually, write Ayush Khare, Divya Srinivasan and Rishita Sachdeva in The Economic Times.Reforming the Public Financial Management System in India
Streamlining a scattered PFM framework in the country by drawing from other countries and proposing reforms in the existing system.A Study of the Fiscal Marksmanship of Capital Expenditure Among Indian...
This paper aims to comprehensively analyse and understand sub-national fiscal marksmanship, with a particular focus on capital expenditure in the social sector.Market Volatility, Monetary Policy and the Term Premium
The authors use time-varying VAR models to study the effects of option-implied measures of equity and bond market volatilities on the government bond term premium and key macroeconomic variables.Using construction technologies to solve mass housing woes
A reflection on the challenges to adoption of alternative technologies in mass housing projects and the way forward for the Global Housing Technology Challenge program.Six Monthly Indicators of Recession
The US economy isn’t in recession but may slip into one, writes Anoop Singh.Explaining India’s Housing Vacancy Paradox
Sahil Gandhi, Richard K Green and Shaonlee Patranabis look at the paradox of high vacancy rates and homelessness in Indian cities.Naysayers are Wrong, India Does have Success Stories
Too many people believe that India cannot fulfil the promise of its founding fathers. There are stories and examples that show it is possible, writes Vikram Singh Mehta.How US Demand Helped Expand Labour-intensive Manufacturing
Understanding the US-India trade composition is also important, as the US is the only big trading partner with which we have a trade surplus, says Abhishek Kumar and Divya Srinivasan.India’s Start-ups are on Fire, but Unicorns can’t Automatically Spur...
Economic miracles only happen when globally competitive firms tap into external demand, says Shishir Gupta.Uber Files Gives us a Glimpse of Big Tech’s Playbook for Market...
Bhaskar Chakravorti writes: It is time we reformed the education of future entrepreneurs and disruptors and the many stakeholders who enable them, to put the human cost of disruptive innovation front and center.The Trade Policy India Needs
Integration with global value chains will require a rethink of our high and uncertain tariffs as well as bolder trade alliances, say Montek Singh Ahluwalia.Political Forum and Development Goals
Ramu Damodaran explores how High Level Political Forum (HLPF) is a remarkable innovation that led to its in inception as part of the sustainable development agenda.How Biden’s “Internet for All” Initiative Can Actually Fulfill Its...
Despite the laudable intentions, Biden's "Internet for All" initiative will likely not be able to achieve its goals as it’s currently conceived, writes Bhaskar Chakravorti.The Life and Times of Montek Singh Ahluwalia | Podcast
Montek Singh Ahluwalia joins Amit Varma in episode 285 of The Seen and the Unseen to discuss his life, his learnings and the liberalisation of 1991.The Pandemic-flagged Need for a New Fiscal Framework
India should consider moving toward a new principles-based fiscal strategy, rather than returning to a fiscal framework based on rigid numerical fiscal targets, writes Anoop Singh.Political Motivation as a Key Driver for Universal Health Coverage
Political motivation does not always arise by itself, but it is often driven by external factors and stakeholders who contribute to creating or strengthening incentives for political attention, writes Sandhya Venkateswaran, Shruti Slaria and Sampriti Mukherjee.Dismal Realities about Healthcare in the National Capital Region
"It is surprising that the Indian insurance regulator allows so many exceptions under private health insurance."International Day of Women in Diplomacy
Ramu Damodaran reflects upon the journey of women's representation at the United Nations on the ocassion of International Day of Women in Diplomacy.“Despite Warnings, Central Banks in Developed Countries do not Take...
Rakesh Mohan answers Bloomberg HT's questions about the causes of global inflation and the effectiveness of central banks' policies against hyperinflation.Analysing Judicial Efficiency of Indian Courts
Aashita Dawer's study aims at analysing Judicial efficiency for Supreme Court, high courts and subordinate courts of India. The study uses various regression techniques while highlighting the importance of effective justice delivery.With its GST ruling, the Supreme Court has Articulated an Alternative to...
The verdict recognises the legitimacy of state-Centre contestations, setting a precedent for state autonomy and Indian federalism, says Kevin James.Right to Health Laws Need Political Support
Realising the right to health requires a system that enables quality and affordable access to health services for citizens, writes Sandhya Venkateswaran and Nikhil Iyer.Property Laws and Property Practices in India
While the first amendments to the Indian Constitution were made to enable the State to redistribute land more equitably, this was followed by land acquisition for developmental projects that displaced Adivasis, Dalits and other vulnerable groups. Read the paper by Kaveri Thara and Ajey Sangai for deeper insights into land and property ...Delaying Action does not Protect Growth: Montek Singh Ahluwalia on RBI...
The central bank affects the real economy not just through short-term interest rates but through a host of other instruments, including the quantity of money, the level of credit and liquidity and, more broadly, financial stability, says Montek Singh Ahluwalia.Corporate Misgovernance in India
NSE has blotted its record even with separate chairman and managing director roles, says Jaimini Bhagwati.Explosive Dying Declaration?
Government and judiciary must collaborate and investigate into Kalikho Pul's accusations, says Jaimini Bhagwati.What Drives the Media’s Coverage of Social Issues?
What influences media reporting? Shishir Gupta and Nandini Agnihotri's study explores reader interest as a factor that drives news coverage.FTA with the UK can Weave Magic
An FTA with the UK can help recover ground lost to Bangladesh on textile exports because of its LDC status, say Abhishek Kumar and Divya Srinivasan.Montek Singh Ahluwalia on India’s Economic Prospects | Interview
Higher oil prices are the main problem for India if peace is not restored soon, says Montek Singh Ahluwalia.Revisiting the role of funding: Lessons from expenditure and performance...
Comparing expenditure on Solid Waste Management (SWM) and cleanliness performance for 11 municipalities in India, Shishir Gupta and Rishita Sachdeva find out that there is no systematicity between increase in expenditure and improved performance.Why AI Failed to Live Up to Its Potential During the Pandemic
The pandemic could have been the moment when AI made good on its promising potential. There was an unprecedented convergence of the need for fast, evidence-based decisions and large-scale problem-solving with datasets spilling out of every country in the world.In Dialogue with Jaimini Bhagwati on “The Geoeconomic Effects of the...
Jaimini Bhagwati, Distinguished Fellow, CSEP, and former Indian Foreign Service officer, talks to Constantino Xavier, Fellow, CSEP about the impact of the Russia-Ukraine crises on India's economic interests in the short and medium term.Free Trade Agreements are Leading to More Imports Than Exports | Interview
Montek Singh Ahluwalia discusses Atmanirbhar Bharat, Russia - Ukraine crises and many more in an interview with the New Indian Express.SVAMITVA: A socio-legal analysis
The paper highlights the gaps in the Survey of Villages and Mapping with Improvised Technology in Village Areas (SVAMITVA) scheme and suggests ways to address them along with proposing an evaluation system to be set in place.The Economy and India’s Future | Interview
In an interview with Mirror Now, Montek Singh Ahluwalia discusses the country's economic health and predictions for the post-Covid world.Timing and Design Key to Making Digital Rupee a Success
Central Bank Digital Currency (CBDC) runs the risk of financial disintermediation, which can alter saving-investment strategy and impact banking system in India, says Aasheerwad Dwivedi.Health Status in India: Challenges and Opportunities
India has experienced considerable progress in health, in outcomes as also infrastructure. However, the task of addressing the health of India’s citizens remains an unfinished task.What Drives Media Reporting?
Not only is the frequency of media reporting on urban conflicts greater, but each urban conflict is also covered much more extensively than those in rural areas; this is despite the fact that a much larger number of people are potentially impacted in the latter.Why Most Indians Don’t Trust News? A Study of Land Conflicts Answers
A study of 714 land conflicts in India find that beyond being ‘influenced’ or ‘sensationalised’, there are objective reasons that decide media coverage.What the Union Budget Got Right, and What it Missed
The budget’s capital-expenditure plan could support our recovery but reforms in important areas can’t be held off any longer.For India to be Financially Inclusive and Economically Better, Financial...
For a financially aware and empowered India, considerable effort and calculated steps need to be taken.What Drives Media Reporting?
Is media reporting linked to readers' interest? We revisit a paper by Shishir Gupta, Nandini Agnihotri and Sikim Chakraborty on what drives media reporting in India.How Will the Economy be Affected by Budget 2022? | Interview
In an interview with Times Now on the Budget 2022-23, Montek Singh Ahluwalia speaks on a host of issues including unemployment, job creation and the various measures taken to boost the economy.What the Government Needs to do to Boost India’s Growth | Budget...
Ahead of the Union Budget 2022-23, Business Today interviews Montek Singh Ahluwalia to take a deep-dive into the contours of the economy and understand what the government needs to do to boost India's growth.Bring Real Estate, Petroleum, Alcohol and Power into GST | Interview
Though the Indian economy is in recovery mode, the underlying growth impulses are weak, says economist Montek Singh Ahluwalia.The Roller Coaster Ride of Non-performing Assets in Indian Banking
While the pandemic and some of the associated policy measures could reverse the recent downward trends in NPAs temporarily, more durable policy initiatives like bankruptcy reforms are expected to make significant positive changes in the NPA situation of Indian banks.‘Make in India’ a Work in progress
While the Indian government has rolled out policies to promote exports, trade policy is more inwardly oriented. The ‘Make in India’ initiative ignores the decades-long geographical fragmentation of the global production process, a reality that increases the import dependence of exports.Union Budget 2022-23: Key Takeaways by CSEP Scholars
Finance Minister Nirmala Sitharaman presented the Union Budget 2022-23 on February 1. CSEP scholars Rakesh Mohan, Montek Singh Ahluwalia, Vikram Singh Mehta, and Jaimini Bhagwati analyse the Budget and reflect on some of the key takeaways.Between Binaries: The Coming Together of For-Profit and Not-for-Profit...
From being a malleable concept, Corporate Social Responsibility (CSR) has come to be strictly defined by legislation. Somewhat corresponding to this, the conversations around impact and governance in the social sector have started changing.What is the Credibility of Government Accounting?
When the government presents the 2022-23 Budget, there will be relatively little attention spent on correlating the budget numbers with recent CAG reports or the deliberations of the PAC, says Jaimini Bhagwati.Insolvency and Bankruptcy Code (IBC) and Long-Term Bulk Lending in India
Jaimini Bhagwati examines the effectiveness of the 2016 Insolvency and Bankruptcy Act (IBC) as the most recent legislation to enable quicker resolution of disputes between borrowers and lenders thus encouraging higher volumes of long-term lending.Does India’s Development Model Need an Overhaul?
While the effects of the recent pandemic have indeed set India’s economy back several years, it is not clear if, prior to it, the development model that we were pursuing was the one best suited to ensuring that we realise our full potential as a country and as a people.Enough of the Old ‘Level Playing Field’ Argument. Reduce Trade...
Data from the IMF's October 2021 World Economic Outlook reveals that India's real exports growth moves in tandem with the growth in global real exports. Consequently, the steep decline in India's export growth since 2018 onwards is mirrored by a decline in global export growth in general.Three Tech Industry Trends to Watch in 2022
Fringe players take on Big Tech, governments start regulating, and AI could finally prove its worth, writes Bhaskar Chakravorti.India’s Hopes and Dynasties
The country needs greater social harmony to accelerate economic development, says Jaimini Bhagwati.50 Global Hubs for Top AI Talent
As AI expands into more and more facets of our lives, there is also more scrutiny on who is developing it. Building ethical AI that works for everyone will require a diverse workforce that brings a broad range of perspectives.India’s Health Status and Emerging Priorities
The progress on several indicators since the 2014-15 survey points to the success of interventions on various fronts, although a cross-year comparison reveals that progress has slowed down for many states.The Good, Bad, and Sober News that the NFHS Data Presents
As always, national averages belie inter-state differentials. Of note is the change in such differentials over the 2005-20 period.The Political Pathway to Health System Improvements in India
With a predominantly family health and infectious disease focus, India’s health system is not well geared to deal with the increasing burden of noncommunicable diseases.Interview | Did UPA Fall Back on Loosening Government’s Grip on...
In the Q&A with Business Standard, Montek Singh Ahluwalia dwells on the areas where he feels UPA did not meet up to the challenges and the progress made by the BJP on certain fronts.For Meaningful Financial Inclusion, We Need Clear Metrics
The purpose of any data or index is to offer us pointers on moving ahead. For meaningful financial inclusion, we must have meaningful metrics in the public domain.The Saviour Complex of Facebook’s Critics
Whistleblowers and the Western media have exposed how the social media platform allows dangerous social media manipulation in developing countries. But why have they locked those very countries out of this conversation?India’s Next Decade: Some Predictions, Some Speculations
India of 2030 will look very different from an institutional setting and that will perhaps be the core driver of all the surface changes that we will encounter.Waste Management and Cleanliness in Cities: Linking Expenditure with...
Our results indicate that while SWM expenditure per capita is positive and statistically significant at 1% level, waste generation is completely insignificant, argues Shishir Gupta and Rishita Sachdeva.Quota share of BRIC countries in IMF should increase: Rakesh Mohan to...
Rakesh Mohan suggests the need to review the role of IMF due to changing economic weight of emerging countries, stressing on completing quota reforms and maintaining data integrity amid the World Bank discontinuing its Ease of Doing Business reports.RBI’s Growth Estimate ‘Exaggerated’ As It Fails To Reflect State of...
There are concerns on whether the 64.4 percent export growth will continue into the rest of the year as shortages of containers have led to a sharp rise in transport costs which could weaken performance.Low Private Investment Is a Weak Spot In The Economy
After the recovery of the economy next year, will we only get back to the growth rate of 4 to 5 percent which prevailed immediately before the pandemic, or to the much higher growth of earlier years?Recognising The Role of Health in India’s Social and Economic Growth
When we focus on health, there has been progress, but India remains well below peer countries — and where it needs to be — in terms of the well being of citizens. This stems from multiple reasons.National Monetisation Pipeline Betrays Narrow Outlook
Private-public investment structures make sense, but they must be modeled to also generate social value. In today’s world, there are no shortcuts to sustainable development.Can Property Rights Improve Access to Toilets for the Urban Poor? Evidence...
Shaonlee Patranabis and Sahil Gandhi analyse slum laws from three states, studying two approaches to improvement of slums—redevelopment, and provision of property rights.Indian Treasures at Home and Abroad
Historically significant sites, artefacts and papers in India and the UK should be made accessible to wider audiences.Monetisation of Government Assets
Leasing government-owned land would be easier and should be accorded higher priority.See Formal Sector at Pre-Covid Level by Year-end
The Indian economy has bottomed out and the formal sector is likely to get back to pre-pandemic levels by the end of this year.Jet Airway, Indian Economy, and the Middle Class
The Indian economy is recovering. But can we settle into a long-term high-growth trajectory?Govt Should Let Fiscal Deficit Rise to 7.5% to Boost Consumption,...
The government must provide adequate income support, particularly for the poor, as a way of tackling the collapse in private consumption, says Montek Singh Ahluwalia.India’s Human Capital: The Regulatory Context for Leveraging Federalism
Anoop Singh and Kevin James and others discuss ways to improve India's human capital indicators.One Year of CSEP: Essential Reading on Economic Growth and Finance
On the one-year anniversary of CSEP, we bring you eight essential readings on the Indian economy.Is Monetising Public Assets a Good Idea?
In this podcast, Montek Singh Ahluwalia discusses the asset monetisation policy of the government.Reforming PSBs Most Important Task Ahead for Government
In this interview with Business Standard, Montek Singh Ahluwalia answers crucial questions on the economy.Former RBI Deputy Chief Warns of Rise in Bad Loans Due to the Pandemic
India’s expanded credit push to help small borrowers weather COVID-19’s impact risks fueling sour debt, says Rakesh Mohan.India’s 20.1% GDP Growth Encouraging: Rakesh Mohan
Former deputy governor of the Reserve Bank of India, Rakesh Mohan discusses the outlook for the Indian economy and policies amid the Covid-19 pandemic.One Nation One Ration Card will increase India’s food security
The One Nation One Ration Card scheme will create a central repository and help in the deduplication of ration cards, which in turn help in removing leakages from the system.Higher Funding Alone Doesn’t Improve Urban Services
Adequate expenditure alone is not enough to improve public services and other outcomes, write Shishir Gupta and Rishita Sachdeva.Lessons on expenditure and performance on cleanliness on Indian cities
HT Insight features CSEP's recent study on mapping expenditure and outcomes for improved service delivery across Indian cities.Bringing Farming To Private Markets Is A Good Idea
Montek Singh Ahluwalia says he wishes the idea of agriculture reforms was communicated more effectively to farmers.Pegasus expose and need for trans-national treaties to stall surveillance
Nurtured by repressive governments, the global surveillance industry is booming, writes Bhaskar ChakravortiBiden’s ‘Antitrust Revolution’ Overlooks AI—at Americans’ Peril
A handful of companies have outsize influence on the world’s artificial intelligence. Policymakers must act now.Revisiting the role of funding for improved urban services
Stable city leadership, effective PPP, and citizen engagement play a key role in providing better SWM servicesInterview: How the 1991 reforms were announced
30 years ago on July 24 1991, Dr Manmohan Singh presented his historic budget when India made a definite break with the past.We should be thankful for the economy’s liberation
We owe a great deal to 1991 for liberating the economy from the dead hand of bureaucratic control.Interview: Reforms, Protectionism, Trade, and Growth
"If we raise duties to make Indian industry competitive, we’ll end up close to 1991."Why Article 282 needs a rethink as Centre and states battle for money
The use of Article 282 to implement centrally sponsored schemes remains a source of tension.Women leaders, and women voters, matter
Increasing Indian women's political participation has significant impacts on social policy and development prioritiesThe US must play champion of open world trade again
Among the needed reforms is a trade agenda that removes US President Joe Biden’s predecessor Donald Trump’s protectionist measuresThe response of Reserve Bank of India to Covid-19: Do whatever it takes
RBI has succeeded in achieving its broad objective of keeping financial system functioning smoothly.A third-generation strategy for accelerated growth and development
Indian economy is in trouble once again and it is time to usher in a third generation of economic reforms.America’s economic resurgence and the sting in its tail
The surprisingly strong recovery in the US, whose economic expansion is outpacing the world’s as well as that of emerging marketsThere is still hope for a more compassionate, united world
There is still hope that binding commonalities of humanity – trust, compassion, friendship, conversation – can usher change.Interview | India’s 1991 liberalisation leap and lessons for today
The reforms were hugely successful but a lot remains to be done, Montek Singh Ahluwalia tells The HinduThe lessons of India’s economic reforms of 1991
Rakesh Mohan and and Montek Singh Ahluwalia on 30 years of the economic reforms that marked a turning point for IndiaIndia needs a third generation of reforms
In India’s development journey, two major policy departures in its approach to growth stand out. It is time for a third departure.The 1991 reforms: The right people at a tight time
The reforms were a product of an objective economic crisis, bureaucratic talent in key positions, and a plan on how to proceedFrom 1991, the lessons for the India of 2021
As India grapples with a post-pandemic economic crisis, there are lessons from thirty years ago on what to reform and how.The Response of the Reserve Bank of India to Covid-19: Do Whatever it...
Rakesh Mohan discusses the role of Reserve Bank of India in fighting the economic impact of Covid-19 and the ensuing lockdown.Rajiv Gandhi opened the doors for 1991 reforms
Thirty years after he passed away, it is relevant to reflect on Rajiv Gandhi’s contribution to India’s economic reforms.Why India shows the need for democracies to prioritise healthcare
The Covid-19 pandemic offers the opportunity to reimagine the political foundations of health in India.In the next big disruption post Covid, the world must act together
No single entity, whether government, corporate or civic society, has the tools to manage the fallout of a systemic disruptionImplications for income generated through crypto trading
Levying tax on cryptocurrency cannot be avoided solely because of the form of income in which it is collected.India’s fiscal architecture: Lessons from the world and a way forward
This discussion note argues that India needs to benchmark its fiscal architecture to 21st century international standards.Ramping up vaccinations should be accorded top priority by India
The command-and-control structure has let us down and we must soon let markets and the private sector play a larger role.Revisiting the role of funding: Lessons from expenditure and performance...
As large parts of Bengaluru remain under water, we revisit a paper by Shishir Gupta and Rishita Sachdeva on the role of funding in delivering better urban services. Using SWM as an example, the authors argue that service delivery levels can increase significantly without spending (much) more.The 1991 moment was 18 months in the making: Rakesh Mohan
In a conversation with Puja Mehra, Rakesh Mohan discussed the Indian economic control system in-depth, the command-and-control economy, and how much of this system was dismantled after 1991.Interview | MSS bonds must be part of the standard monetary policy...
During the interview, Dr Mohan said he fails to understand why the current Monetary Policy Committee (MPC) was not given the powers to take a call on the reverse repo rate.Do property rights explain health outcomes of adolescent girls in India?
The study reveals the state of property rights in India and presents an analyses of issues pertaining to security of tenure.Interview | Expect K-shaped, not V-shaped, recovery: Part 1
In a 3-part interview, Rakesh Mohan analyses the Indian economy, banking reforms, the RBI's role, etc.Who gets to decide what is legitimate free speech — Big government or...
We now live in a new era of global diplomacy. It isn’t just states butting heads with other states; there are gigantic tech companies that have thrown their hats into the geopolitical ring.A decentralised approach and strong local governments can enhance...
Leveraging the true potential of our multi-level federal system represents the best way forward towards developing human capital.India’s housing paradox: Empty houses and housing shortages
The Model Tenancy Act can improve rent control legislation and contract enforcement to bring vacant houses into the market.A third-generation strategy for accelerated growth and development in...
The third generation of economic reforms must direct attention to improving the government’s own competence, at all levels.India must manage public finances better
The ministry of finance could launch the process of stakeholder consultations and prepare a time-bound plan for the implementation of comprehensive public financial management reforms at all levels of government.Meenakshi Ahamed’s book shows why Indo-US ties have progressed despite...
The pace of the further development of relations will depend crucially on the quality, knowledge and influence of the people that President Biden appoints to his India desk.India’s fiscal architecture needs changes
The fiscal rules that have evolved over time in many advanced countries are now being tested during the COVID-19 crisis.A moment 30 years ago that had been a year and a half in the making:...
Rakesh Mohan narrates how the logic-defying system of industrial controls was dismantled, and discusses policies required to deal with the emerging challenges of redeploying labour.There is a need for high taxes uniformly across all tobacco products
Higher taxes will work in tandem with greater controls, and will help GoI pay for all the direct and indirect costs it incurs due to tobacco consumption.1991 reforms aimed at more than just BoP crisis: Montek Singh Ahluwalia
The balance of payments (BOP) crisis was the immediate trigger but the other challenge was problem of slow growth, says Montek Singh AhluwaliaIndia’s Housing Vacancy Paradox: How rent control and weak contract...
How rent control and weak contract enforcement produce unoccupied units and a housing shortage at the same time.Pandemic exposed the existing societal framework as unsustainable
We must ask what from 2020 should we reinforce, what must we rebuild and what should we tear down and build again?Beyond binaries: The coming together of Indian non-profit and for-profit...
The study looks at the evolving dynamics of the civil society/non-profit sector and examines variations in governance, changes in funding etc. which influence positive outcomes, while also looking at what constitutes positive outcomes.Which economies showed the most digital progress in 2020?
Now more than ever, digital capabilities are essential to ensure a country’s growth and economic resilience. But how do different economies compare as far as the current state and ongoing momentum of their digital development?Ownership and governance of private sector banks – Part III
Going beyond its recommendations on ownership of private sector banks, there are some other internal working group (IWG) recommendations that bear scrutiny.Ownership and governance of private sector banks: Part II
Among the key problems that arise from the ownership of banks by nonfinancial companies are those of conflict of interest.Why private banks, their ownership structures need to be strictly...
Basic principles and international practice suggest that opening the door to the ownership of banks in India by large corporate/industrial houses should be done, if at all, with utmost caution.Interview | Should corporates be allowed to own banks?
Rakesh Mohan talks about the proposal to allow corporates to own banks and the state of the economy.Wage Trickle Down vs. Rent Trickle Down: How does an increase in college...
The study confirms that high‐skilled workers gain greater benefits from living in cities with a rising college share, as the increase in their wage premiums outweighs their rent growth.Joe Biden will need healing superpowers to get through his first hundred...
Joe Biden inherits a divided nation, government, party. Economy, foreign relations also need immediate healing.Post-COVID, lack of social security has made many migrants consider...
A stark manifestation of the two-track development of our socio-economic polity is the ubiquitous spread of digital technology.IMF Quota reforms and global economic governance: What does the future...
The world is on the cusp of an epochal change in global economic power, not seen since the start of the Industrial Revolution.The war over Justice Ruth Bader Ginsburg’s legacy may overtake all other...
Battle over Justice Ruth Bader Ginsburg’s legacy, her Supreme Court seat, may overtake all other issues — pandemic, economic collapse, fires and floods — in US presidential polls.Antitrust isn’t the solution to America’s biggest tech problem
The pandemic has revealed the most fundamental of our digital vulnerabilities.Make surveillance capitalists pay their dues
The world is now facing many technology crises: limited choices of search engines, social media platforms, and e-commerce sites; digital misinformation, concern about which is heightened this year.Breaking down Silos to improve the health of older adults: The case for...
The leading cause of injury for older Americans is falls in the home, resulting in more deaths than any other injury, as well as a significant portion of Medicare spending.Are slums more vulnerable to the COVID-19 pandemic: Evidence from Mumbai
India has been highly susceptible to the spread of pandemics. The 1918 pandemic caused devastation across the country, with an excess mortality of 4.5%. While a century has passed since then, the present conditions of dense living and a weak public healthcare system makes the possibility of the rapid spread of the ...The early days of a global pandemic: A timeline of COVID-19 spread and...
The COVID-19 pandemic has sent shockwaves throughout the global economy. Some economies have been affected more severely than others. It started with a few deaths in Wuhan, China, with the earliest reported case on November 17, 2019. By December 31, 2019, when the Chinese authorities first reported it to the World Health ...COVID-19 | Does India have enough doctors? An analysis of growing COVID-19...
Coronavirus cases are quickly increasing across the globe, with just 580 reported cases (on January 22, 2020), in the span of a few weeks, the total number of confirmed COVID-19 cases have increased to over half a million across the world. The surge in coronavirus cases has crippled health systems in many ...COVID-19 | Is India’s health infrastructure equipped to handle an...
With growing number of coronavirus cases in India (and worldwide), policymakers have sprung into action – more information is being disseminated about preventive measures such as hand washing and not touching the face. Social distancing has been suggested as a tool to “flatten the curve”, or in other words, prevent the health ...Mobility and tenure choice in urban India
This paper considers the impact that the shrinking rental sector has had on the opportunities for Indians to migrate.Medicines in India: Accessibility, affordability and quality
Healthcare expenditure is financed through various sources in a country. It can be financed by the government (state or union), insurance schemes (public or private) or borne by households directly in the form of out-of-pocket expenditures (OOPE). More financing by the government implies less financial burden on households in the form of ...Indian Economy is in Structural Slowdown Since 2012
Cutting of rates won't have as much of a response. One does not know what in some sense ought to be the resting point for the rates, says Rakesh Mohan.Reviving Higher Education in India
This paper examines enrolment trends, graduation and employment patterns and the quality of Higher Education Institutions in India.Sustainable and inclusive growth in South Asia
On November 4, 2019, Brookings India hosted the International Monetary Fund (IMF) for a panel discussion around reforms based on inclusive and sustainable growth in South Asia with a particular focus on India. The IMF paper, titled “Is South Asia Ready for Take Off? A Sustainable and Inclusive Growth Agenda“, was presented ...Performance of the Supreme Court and tenure of Chief Justices of India: An...
This is a tentative and an exploratory analysis to assess the productivity of the Supreme Court of India (SC) under different Chief Justices of India (CJI) in terms of accomplished adjudications, which is its core function. In particular, we study the number of judgements passed by the apex court per day during ...Women’s Reservation Bill: What can India learn from other countries?
Globally, women remain vastly underrepresented in local and national politics. As of 2018, according to the Inter Parliamentary Union, only 24%[i] of parliamentarians are women. Can public policy, in general, and affirmative action, in particular, result in political inclusion of women? Data from the International Institute for Democratic and Electoral Assistance, Stockholm ...India’s biggest challenge: The future of farming
India has enough food; does it have too many people working in agriculture? The country needs a different set of solutions for agriculture and for those working the land.The persistence of memory: The burden of Alzheimer’s disease in...
Between 2001 and 2011, India’s elderly population increased from 70 million to 104 million (Census estimates). In 2011, the population over 60 years of age comprised 8.6% of the total population. With falling population growth rates this share is only expected to increase further in the coming decades. As the population ages, ...Women’s Political Participation and Development
On July 29th, 2019, Brookings India hosted Sonia Bhalotra for a Development Seminar on Women’s Political Participation and Development. She presented two co-authored papers, “Women Legislators and Economic Performance” (2018)[1] and “Maternal Mortality and Women’s Political Participation” (2018)[2]. The two discussants for the event were Atishi, leader of Aam Aadmi Party and a ...Assessing gender in the North East
On July 19, 2019, Brookings India hosted a Development Seminar on gender in the North East, under its Property Rights Initiative and Gender Secretariat Initiative, which is a platform for developing and discussing research that fuels impact on policy related to gender in India. Patricia Mukhim, veteran journalist and editor of Shillong ...Missing women patients: Gender discrimination in access to healthcare
Gender discrimination in access to healthcare has not been systematically studied in India or many other developing countries. This is primarily due to a lack of reliable data. In this paper, we use extensive data collected on clinical appointments from a large public-funded tertiary care hospital with a robust hospital information system ...The promise of impact investing in India
Achieving the ambitious sustainable development goals (SDGs) by 2030 will take an estimated $5 to $7 trillion per year, with a financing gap of $2.5 trillion in developing countries.In India alone, the outsize challenge has been translated into a financing gap of $565 billion. While the country has seen huge progress ...Moving India to a new growth trajectory: Need for a comprehensive big push
The paper discusses the need to focus attention on the primacy of growth as a policy objective, to eliminate poverty and achieve upper-middle income status.India 2024: Policy priorities for the new government
A changing global order, energy transitions and climate change and rapid technological advancement – India’s next government has the difficult task of steering the country through an interesting and crucial time. India 2024: Policy Priorities for the New Government, edited by Dhruva Jaishankar and Zehra Kazmi, is a compendium of policy briefs ...India 2024: An informed India
For years, governments, policymakers, and philanthropists have contributed funds for the delivery of social programs to achieve specific goals and development outcomes. These funds have been used to tackle poverty, hunger, malnutrition, and other critical policy issues. But while necessary, they have met varying degrees of success. Each year the government spends ...India 2024: An urban India
It is now widely recognised that India’s future will be urban. According to estimates by the United Nations’ World Urbanisation Prospects, India will see the highest increase in urban population in absolute numbers of any country. By 2050, it will add more people to its cities than are currently residing in them. ...India 2024: A highly educated India
India has seen a rapid expansion in the higher education sector since 2001. There has been a dramatic rise in the number of higher education institutions (HEI) and enrolment has increased four-fold. The Indian higher education system is now one of the largest in the world with 49,964 institutions. Despite the increased ...India 2024: A healthy India
India’s economy has grown at an impressive pace over the last few years, but overall, it still witnesses poor health outcomes. The wealth of a nation is its human capital and with poor health outcomes, India’s human capital will suffer. This has a direct consequence on the economic well-being of the nation. ...Why women candidates are more likely to run as independents
In a democratic polity, political representation is an inherent aspect of political participation. In this view, whether or not women are able to exercise political participation depends, to a large extent, on the terms of their inclusion and the extent to which the rules of the game enable or allow for their ...What India’s 65 million ‘missing women’ mean for the...
As the largest democracy in the world, India has boasted a consistent record of free and fair elections. A democratic government derives its legitimacy and power to implement policy from the “consent of the governed”. But if a significant chunk of the population is “missing”, does it reflect the true consent of ...The debate over jobs in India is missing the point
As nearly a billion Indians go to the polls this month and next, no one doubts jobs will be central to their vote. We just can’t agree on whether the employment picture is rosy or dark. While the government cites payroll data to claim significant job creation, the opposition holds up a leaked preliminary ...Teenage girls in India: Aspirations and reality
There are 80 million teenage girls in India. A clear understanding of their current realities and their aspirations is essential in order to design effective policies for them. However, a key impediment for data-driven policy design, in order to address the needs of teenage girls in India, is the absence of any ...Early life exposure to outdoor air pollution: Effect on child health in...
Pollution in any form, whether it be air or water, poses an environmental risk to the health of the exposed population. Literature from both developing and developed nations indicates the adverse health effects that air (Soo and Pattnayak, 2019 & Chay and Greenstone, 2003) and water pollution (Brainerd and Menon, 2014) have ...Difficult Dialogues: A compendium of contemporary essays on gender...
Existing literature has documented a significant gender gap in various sectors including health, labour market opportunities, education and political representation in India. The objective of this compendium is to move the gender policy focus towards the underlying trends and causes of these gender gaps. In particular, we highlight three areas of interaction ...Accelerating financial inclusion in India
By making financial services accessible at affordable costs to all individuals and businesses, irrespective of net worth and size, financial inclusion strives to address and offer solutions to the constraints that exclude people from participating in the financial sector. Research shows thatcountries with deeper levels of financial inclusion defined as access to ...Too slow for the urban march: Litigations and real estate market in...
India is urbanising and putting increasing pressure on urban land and there is growing impetus to convert land from agriculture to non-agriculture use. According to the United Nations (2015), India will see the largest increase of all countries in urban population by 2050. Efficient functioning of urban land markets will be critical ...Connecting India: How roads, teledensity and electricity have improved...
Connectivity is a prime factor in determining livability, employment and growth in a country. In this view, a well-connected India provides the prospect of a better India from better access to services to better livelihoods and opportunities. Setting out to understand how connectivity in India had improved over time, we decided to ...Preserving the independence of the RBI
If proposals to set up an appellate body to review RBI’s regulatory and supervisory decisions were to be implemented, the whole supervisory process would get mired in constant litigation. The last decade has witnessed an almost constant attack on the Reserve Bank of India (RBI), emanating sometimes from within the government, sometimes ...Increasing private practitioner engagement with tuberculosis
Tuberculosis is an infectious disease that is most prevalent in South Asia. It is caused by the bacillus Mycobacterium tuberculosis and primarily affects the lungs. A small fraction of infected individuals develop symptoms and the capability of transmission. In 2015, India accounted for 2.2 million of the 9 million tuberculosis cases in ...Is India ready to JAM?
The Indian government’s JAM trinity comprises three components: Jan Dhan bank account, Aadhaar unique identity number and mobile phone. A combination of these three elements is seen as the pathway to implementing large-scale direct benefit transfers in India. The Jan Dhan Ayojana (Peoples’ Wealth Scheme) is a government scheme that aims to ...Product space analysis and industrial policy: Identifying potential...
This paper explains the basic concepts of product space analysis and works with the data provided by the Atlas of Economic Complexity that reflect these concepts, i.e. ease of moving into production and export of another “nearby product”, the consecutive chain of domestic capabilities that can be developed by moving into a ...Why health doesn’t get the media attention it deserves
Shamika Ravi spoke at The Media Rumble about making health political and democratised. “No country can develop on the back of poor human capital.”Using technology to improve the efficacy of school feeding programmes
Heralded as the world’s largest school feeding programme, the Mid-Day Meal Programme in India reaches out to over 120 million children in over 1.26 million schools. State governments, along with funding from the national government, supply free lunches to children in primary and upper primary classes on working days in government schools. ...India’s model bilateral investment treaty: Are we too risk averse?
India’s decision to adopt a new Model Bilateral Investment Treaty (BIT) especially in light of the growing debate on how to reconcile investment protection with host state’s right to regulate should be welcomed. After foreign investors sued India under different BITs, India realised that broad and vague investment protection standards can be ...The ascent of Artificial Intelligence: How will AI change the...
Do machines make mistakes? How often and at what cost? When can we truly trust machines? From SIRI to self-driving cars, Google’s search algorithms to autonomous weapons and drones, the past few decades have witnessed some of the fastest, almost meteoric, rises in Artificial Intelligence (AI). Today, as different nation-states make choices ...Indian monetary policy in the time of inflation targeting and...
This paper provides a narrative of Indian monetary policy since the North Atlantic Financial Crisis (NAFC) in the mid-2008 till the current period. The period 2009-13 was dominated by the joint monetary and fiscal stimuli of the Indian authorities prompted by the NAFC. These, along with some structural shocks and a hands-off ...Artificial intelligence and data analytics in India
Advances in artificial intelligence and data analytics are propelling innovation in many parts of the world.[1] China, for example, has committed $150 billion towards its goal of becoming a world leader by 2030.[2] And while the United States government is investing only $1.1 billion in non-classified AI research, its private sector is ...Brookings India consortium brings together researchers analysing National...
The National Family Health Survey 2015-16 conducted by the Ministry of Health and Family Welfare provides information at an individual, household, district, state, and country level about various metrics related to health. The survey’s 800,000+ household observations are appropriately weighted by the International Institute of Population Sciences to provide accurate statistics at ...Manufacturing jobs: Implications for productivity and inequality
Declining shares of manufacturing jobs in overall employment have been a concern for policymakers for years in advanced and some developing economies. This concern stems from the widely held belief that manufacturing plays a unique role as a catalyst for productivity growth and income convergence and a source of well-paid jobs for ...Regulating a Digital Economy: An Indian Perspective
The “fourth industrial revolution” which has been characterised by end-to-end digitalisation has led to unprecedented increases in connectivity and data flows. By 2017, Asia had the largest number of internet users in the world, with 1.9 billion people online. Joshua Meltzer, Senior Fellow, Global Economy and Development at the Brookings Institution, spoke ...Is inflation dead? Development Seminar challenges conventional wisdom on...
Inflation in the U.S. has averaged 1.9 per cent between 1996 and 2009 while mean inflation rate in 21 advanced economies (AE), excluding the U.S., has averaged some 25 basis points lower than that. During a Brookings India Development Seminar, Surjit Bhalla, member of the Prime Minister’s Economic Advisory Council and Chairman, ...What India can do to build, bridge and bolster digital trust
There are more mobile phones than people on this planet, Facebook now has 2 billion monthly users, and over 93 per cent of India’s adult population now has access to a unique Aadhaar identity. With critical data pools lying with governments and social media networking sites, building, bridging and bolstering trust in ...Is the National Health Protection Scheme good public policy?
India recently announced an ambitious plan called the National Health Protection Scheme (NHPS) to provide government-sponsored insurance to roughly 500 million people or nearly 40% of India’s population. Since the announcement, there has been much debate about two issues. First, does this plan make sense? Second, if it is a good idea, ...How to solve issue of rising non-performing assets in Indian public sector...
The Indian banking system is beleaguered with non-performing assets (NPAs). According to the Reserve Bank of India’s Financial Stability Report of December 2017, they currently stand at 10.2 per cent of all assets, while stressed assets, which are believed to be NPAs in effect, stand at 12.8 per cent. Related frauds amount ...With the incursion of fake news, here’s what Facebook could do to...
Facebook has a world of problems. Beyond charges of Russian manipulation and promoting fake news, the company’s signature social media platform is under fire for being addictive, causing anxiety and depression, and even instigating human rights abuses. Company founder and CEO Mark Zuckerberg says he wants to win back users’ trust. But ...WTO and food stock holding row: Why India must strengthen world body
WTO’s 11th Ministerial Meeting ended on December 13 in Argentina, without any negotiated agreement on substantive issues. The Ministerial Decisions taken are on continuing work in certain areas, and renewal of two previously agreed Decisions which have been reiterated every Ministerial meeting. The negotiations on agriculture, including food stockholding, were blocked by ...Here’s how opening up the gender gap in internet usage would create...
We have all heard about a gap when it comes to participation of women in the tech industry. Facebook, Google, and Apple have 17%, 19% and 23% women in their technology staffs, respectively. Multiple surveys, such as the “The Elephant in the Valley,” have documented systematic discrimination against women. And there’s a ...World Bank’s league table: India makes it to the top 100 nation for...
Pop the champagne and pass the mithai for it is, indeed, the epoch of belief, the season of light in the world’s largest democracy. After languishing in the World Bank’s league tables, India is, finally, getting its due: It has been admitted to the top 100 nation club for Ease of Doing ...Demonetisation: A year after India killed cash, here’s what we can...
Almost a year ago, the Indian government rolled out an unprecedented policy move. Arguably, it was a time when the country was poised for economic success. With $9.49 trillion in purchasing power parity, it was the third-largest (in PPP terms) and the fastest-growing large economy in the world. On November 8, with ...Putting industrial policy experience to use
The department of industrial policy and promotion (DIPP) has released a substantive discussion paper on industrial policy which identifies several key policy aspects, constraints on industrial growth, and a range of objectives and policy targets. The paper provides a basis for the government’s consultations to “formulate an outcome-oriented actionable industrial policy that ...Even Nobel economists make ignoble mistakes
I try to teach people to make fewer mistakes,” said the newly-minted economics Nobel laureate, Richard Thaler, in an interview earlier this week. “We need to take full account of the fact that people are busy, they’re absent-minded, they’re lazy.” Congratulations to Professor Thaler; I think his brilliantly accessible work is part ...India reforms health: A compendium of writings
Restructuring the Medical Council of India to eliminate corruption By Shamika Ravi NITI Aayog has proposed replacing the compromised Medical Council of India with a new National Medical Commission (NMC), outlined in a draft Bill known as the National Medical Commission Bill of 2016. We look into this proposed Bill, refer to ...The need for reforms in healthcare finance
The Centre and state governments are experimenting with several new and exciting ideas in healthcare reforms. What is missing, however, is a serious reform agenda for health financing. The last big reform was expanding the coverage of the Rashtriya Swasthya Bima Yojana (RSBY) from Rs30,000 to Rs1 lakh, reinforcing insurance as the ...Who knew healthcare was so complex
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” F.A. Hayek, The Fatal Conceit: The Errors Of Socialism. NITI Aayog’s recommendation to improve access, reduce out-of-pocket expenditure, create infrastructure and augment capacity at district hospitals for non-communicable diseases (NCDs), ...What Uttar Pradesh tells us about health infrastructure
The death of children in the recent Gorakhpur tragedy has drawn significant attention towards the state of public health institutions in Uttar Pradesh (UP). While much of the focus remained only on Gorakhpur, our analysis shows that within the state, the public health infrastructure is far worse than Gorakhpur in most districts. ...Restructuring the Medical Council of India to eliminate corruption
The Medical Council of India (MCI) has been repeatedly criticized for providing opaque accreditation to aspiring medical colleges in India. Many of its members have been accused of taking bribes in order to fast-track accreditation. Bribes reduce the legitimacy of all accredited colleges and thereby compromise medical college quality overall in the ...Restructuring the Medical Council of India
The National Medical Commission Bill looks to create a National Medical Commission (NMC) to replace the currently existing and extremely corrupt Medical Council of India. This new body would be responsible for the accreditation of all medical education institutions within the country as well as maintaining a national registrar of all certified allopathic medical practitioners. ...Missing Female Patients: An Analysis of Gender Ratios from a Tertiary Care...
Abstract The issue of missing women, which is excess mortality of females as seen in low population ratio of women to men, in developing countries was first highlighted in a landmark mark paper by Sen in 1990 and again in 2003. Anderson and Ray estimate suggests that among the stock of women alive ...Health Monitor
The Health Monitor brings together real-time data, research & powerful analytics of India’s healthcare sector on a common platform. It’s created using publicly available data from across all states & Union Territories. It enables researchers & policymakers to access, monitor and analyse real-time health measures at a highly disaggregated level. This Health ...TPPs for success: Here is how India can use this gamechanger agreement
Three years ago, when the Trans Pacific Partnership (TPP) was seen as a game-changer in the evolving international trade regulatory regime, there was some discussion in India on whether the country should join TPP. Given the prevailing political constraints, it was evident that India would find it difficult to accept a number ...TPP and India: Lessons for Future Gains
Until 2015, the Trans Pacific Partnership (TPP) was seen as a game-changer in the evolving international trade regulatory regime. It was evident, as expressed by India’s Foreign Trade Policy 2015-2020, that it would not be possible for the country to accept the emerging agreement. The future of TPP is now uncertain, with ...Rethinking the budget in a post-GST India
The goods and services tax (GST) is finally here, so perhaps now is the time to reflect on how the budget can be updated for a post-GST India. Just as the GST aims to create national uniformity in taxation, rethinking budgets can also push efficiency. A bold step the government can take ...Important lessons for the Smart Cities Mission
With the 26th UN-Habitat governing council conference (GC26) held last month, the new urban agenda (NUA) has once again come to the fore. As the world moves towards a globalized policy discourse, one wonders if the NUA is an improvement on the existing unratifiable global documents. India’s minister for urban development, Venkaiah ...Better data needed on job scenario
“There are lies, damned lies, and statistics,” the 19th century British Prime Minister Benjamin Disraeli famously said. Today, his description of questionable data may be applied, somewhat facetiously, to Indian labour statistics. The problem is not that they are “fake”, but rather that they give only a partial and sometimes inaccurate view ...If Trump, Modi talk climate
As is now well known, President Donald Trump has fulfilled his promise to pull the US out of the Paris climate agreement. This “Trexit” had all the hallmarks of a scorched earth strategy. Trump bashed not only the agreement, calling it “less about the climate and more about other countries gaining a ...Advancing cooperation in higher education
It is that time of the year when India struggles to meet the educational expectations of its youth. An increasing number of school graduates are enrolling in college but the shortage of quality institutions has led to unreasonable entrance requirements. Despite recent visa restrictions, the US remains a favoured destination for resourceful ...Over The Barrel: A note to the class of 2017
I was in the US last week for Commencement Week when students receive their degrees. The tradition is to surround this occasion with speeches by luminaries, faculty and staff, and to have much revelry. As I have two daughters studying in the Boston region and one of them was graduating, I had ...The art of curry diplomacy
Infosys plans to curry favour with the Donald Trump administration with a promise of creating 10,000 new American jobs. We should note that the first of four “Technology and Innovation Hubs” promised by Infosys will be in Indiana. No doubt, this is designed to charm Vice President Mike Pence by bringing tech ...Over The Barrel: Democrat’s dilemma
Thomas Jefferson wrote, “a government big enough to give you everything you want is also strong enough to take away everything you have “. Seen through a contemporary India-centric lens , this statement could read, “people want a strong government for development and stability but not so strong as to compromise their ...Why EVMs are win-win
Free and fair elections to choose political representatives are a cornerstone of a democracy, and a fundamental human right of people. Voting procedures play a significant role in the conduct of free and fair elections in a democracy: These convert voters’ preferences into a political mandate, which forms the basis for policy ...The impact of Electronic Voting Machines on electoral frauds, democracy,...
Free and fair elections are cornerstones of democracy. In India, electronic voting machines (EVMs) were introduced with the objective of reducing electoral fraud. We exploit the phased roll-out of the EVMs in state assembly elections to study its impact on electoral fraud, democracy, and development. Our main findings are: Introductions of EVMs ...How Companies Can Champion Sustainable Development
Given political climates around the world and a new wariness around international cooperation, the private sector could find itself in the hot seat: trying to pick up the slack on big issues from climate change to sustainable development. This demand for taking on a larger role may come not only from advocacy ...Gender issues in India: an amalgamation of research
Forty-two years have passed since the United Nations first decided to commemorate March 8th as International Women’s Day, marking a historical transition in the feminist movement. Gender remains a critically important and largely ignored lens to view development issues across the world. On this past occasion of International Women’s Day 2017, here ...Working Paper: Trade Policy Reform in India Since 1991
SUMMARY: This paper discusses India’s trade policy reform since 1991, providing quantitative information and qualitative insights regarding the evolution of trade policy in the past 25 years. The Finance Minister in his 1991 Union Budget speech explicitly stated that trade policy reform was an important part of the economic reform initiated by ...A sentinel’s censure
The latest collection of P. Chidambaram’s articles is an indictment of India’s evolution as a liberal democracy I was a panelist at a function in Mumbai recently to discuss P. Chidambaram’s latest book Fearless in Opposition: Power and Accountability. The book is a compilation of his weekly articles written in 2016 ...What explains childhood violence?
Violence in childhood is a serious health, social and human rights concern globally, there is, however, little understanding about the factors that explain the various forms of violence in childhood. This paper uses data on childhood violence for 10,042 individuals from four countries. We report Odds Ratios from pooled logit regression analysis ...Women and representative governance in India
Brookings India Senior Fellow Shamika Ravi recently presented glimpses of her work on women and representative governance in India to a group of students from New York University. Dr. Ravi presented her research through three main perspectives namely, governance, representation and potential solutions. Her research has been inspired by the ‘missing women’ ...India is an average low-tariff economy, there are misconceptions otherwise
India is widely known as a country with high import tariffs. This view, however, is incorrect. Changing this view is important for several reasons, both within India and outside. But first, the facts. World Trade Organization estimates of India’s applied most favoured nation (MFN) tariffs, i.e. tariffs applicable in general, are 13.4% ...“Finance Minister is looking to present a budget against the...
Brookings India Chairman Vikram Singh Mehta speaks to journalist Karan Thapar on whether the Finance Minister should be cautious or bold in this year’s Fiscal Budget. How has demonetisation been viewed by foreign investors? Has it made India a more inviting destination or has it raised concerns and made them perhaps pause and ...Demonetisation – thereafter proposing a new abnormal
Now let’s try demonetisation without denouement, perpetually preserve the uncertainty A little over two months has passed since the Narendra Modi government’s ambush on its own currency. In keeping with the unexpected nature of its launch, the manoeuvre has had some unexpected consequences. There are at least three ways in which the ...A tradeoff between growth and social objectives exists for microfinance...
Senior Fellow Shamika Ravi was a panellist at the 5th Plenary of Day 2 at the Inclusive Finance India Summit 2016, held on December 6, 2016. Shamika Ravi described why most microcredit borrowers are women. She shared a story of the Grameen Bank from a gender perspective. When Grameen Bank started, 40 ...The fight against hidden hunger: targeting the first 1000 days of a...
India faces an invisible public health crisis in the form of widespread maternal and child undernutrition. One-third of Indian women (of reproductive age) are undernourished, and close to 60 million children (under five years of age) are at risk, that is, they are either stunted (low height-for-age) or wasted (low weight-for-height). Women ...Finding the sync: connecting the fragmented liberal and democratic...
Last year raised questions over relevance of liberal democratic processes, called for a review. 2016 has been a dramatic year. I am not sure about the others but the developments over the past year have made me reflect on four issues. The relevance of the current system and process of democratic politics ...Demonetisation push to labour reforms: molding the future of the markets
Demonetisation has the potential to facilitate an environment that will develop a formal culture in India’s labour markets Among the loudest critics of the demonetisation policy are those who predict doom for India’s informal sector as a result of this exogenous shock. Numerous anecdotes are being forwarded to highlight the suffering of ...If State Elections were General
On December 11, the results of five Indian state elections – in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, and Mizoram – were announced. These will be the last state elections before the 2019 Indian general election, about which speculation will now begin in earnest. Predicting national elections is a notoriously difficult exercise; the ...Health and Morbidity in India (2004-2014)
The decade from 2004 to 2014 saw the Indian economy grow at an impressive rate. This was also the time when the government brought sweeping policy initiatives into the healthcare sector. New health schemes were introduced at the national level as well as state levels. After a decade of experimentation, India is still faced with ...The government’s ‘little mistakes’ can have a high cost
A relative passed away recently… or should I say in the future? See the official government death certificate issued, which shows a particular date. What do you interpret that date as? In India, as we follow the British system, most people would interpret this as 9 December, 2016 (09/12/16). But she passed ...Demonetisation: Effect on interest rates, inflation and policy action
Dr. Shamika Ravi (Senior Fellow, Brookings India) and Dr. Eswar Prasad (Senior Fellow, Brookings Institution) participated in a debate about the demonetisation issue in India. Dr. Ravi responded to comments on inflation and interest rates: There is a problem of an information void within which estimates are being made, including the government ...Shamika Ravi on implications on govt’s demonetisation move
Speaking about Prime Minister Narendra Modi’s announcement to demonitise Rs 1000 and Rs 500 notes, Senior Fellow Shamika Ravi in this Facebook Live says the next few months will be painful, and should be seen as teething troubles for an economy trying hard to reform its corrupt self. As an economy we should aim ...Demonetization is a net positive move
Scaling back large bills will not end crime, but it will force the underground economy to employ riskier methods In a special broadcast on 8 November, Prime Minister Narendra Modi announced a positive exogenous shock to the country. He declared that in less than four hours, Rs500 and Rs1,000 bills would be ...To keep good company
There are many other questions, but the larger point is that the time may have come for a broad-based introspective review. Reams have been written on l’affaire Tata. I cannot add much more of substance. And I certainly do not wish to add grist to the mill of speculators. The reason I ...Over the barrel: A swadeshi index
World Bank rankings on ease of doing business ignore the complexity of the Indian landscape. An indigenous framework is needed. WAS IT A mistake for the prime minister to set his government the target of improving India’s rank order in the World Bank’s “ease of doing business” index from 131 to 50 ...Indian Financial Sector: Structure, Trends and Turns
This paper traces the story of Indian financial sector over the period 1950-2015. In identifying the trends and turns of Indian financial sector, the paper adopts a three period classification viz., the 1950s and 1960s, which exhibited some elements of instability associated with laissez faire but underdeveloped banking; the 1970s and 1980s ...