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How does monetary policy transmission happen in India?

Central banks leverage monetary policy instruments to control the supply of money in the economy, which in turn influences economic outcomes through various channels. Analysing Indian data from 2001-2...

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India at work: Challenges and the road ahead

While India’s economy experienced steady growth over the last 20 years or so, the growth in employment has not kept pace and key challenges remain to the creation of good-quality jobs. In this post,...

  • Perspectives

Why next-generation economic reforms are crucial for reviving investment

While corporate profitability and banks' lending ability have been on the rise for some time, corporate investment remains sluggish. In this post, Gupta and Sachdeva argue that investment levels of In...

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

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

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The challenge of job creation

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

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Waiting for jobs

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

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

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

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Structural transformation and spillovers from ‘Industrial Areas’

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

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Land records and titles in India

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

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Forecasting growth in times of transition

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

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Why are geniuses destroying jobs in Uganda?

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

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

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

  • IGC Research on India

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

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

  • IGC Research on India

GST Explainer: Value Added Tax 2.0

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

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GST Explainer: A legal scholar’s view

Arvind Datar, Senior Advocate and reputable legal scholar responds to the questions on GST posed in the introduction of this explainer.

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Recent Contributors

Santosh Kumar

Santosh Kumar Dash

Institute of Rural Management (IRMA)

Joyal P.

Joyal P. Joseph

Gulati Institute of Finance and Taxation (GIFT), K

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Nalini Gulati

Editorial Advisor, I4I

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Kanika Mahajan

Ashoka University

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Anisha Sharma

Ashoka University

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Ananyo Brahma

University of California, Santa Cruz

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Shishir Gupta

Centre for Social and Economic Progress (CSEP)

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Most Popular Macroeconomics Posts

Land in India: Market price vs. fundamental value

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

  • Articles

Land records and titles in India

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

  • Perspectives

Understanding the dynamics of the rupee-dollar exchange rate

Since 1993, the Indian rupee (INR) has officially been following a market-determined exchange rate – price is determined by demand for and supply of foreign exchange – with intervention by the Res...

  • Perspectives