This paper re-emphasizes the importance of price stability as a tool for macroeconomic policy and make it more specific by considering a typically (unanticipated) advantage of stabilizing the Consumer Price Index (CPI). I briefly review the recent economic growth performance of the Indian...

Until very recently and despite human capital’s pre-eminent and empirically established contribution to economic growth, Indian policymakers planning for economic development concentrated largely on issues of capital, labour and, to a lesser extent, technology. This paper argues that India’s...

This paper provides an overview of the impact of the global financial crisis (GFC) on the Indian economy. It identifies the channels through which the GFC has impacted the Indian economy and evaluates the stimulus packages that have been put in place by the government of India. Finally, the...