The inaugural budget of the NDA led government has been a cause of some surprise and disappointment amongst those who were eagerly expecting a new radical dose of neo-liberal reforms. It appeared that the ‘policy paralysis’ of the past government had survive the change brought about...

The paper discusses the impacts of free-trade policy on the agricultural exports of Kerala.

This study analyses the behaviour of monetary and fiscal policies interaction in India using quarterly data for 2000Q2 to 2010Q1. It finds that, even after the elimination of automatic monetisation of fiscal deficit in 1997 and prohibiting RBI from buying government securities in the primary...

This Tenth Nani A. Palkhivala Memorial lecture lecture centres around the role and responsibility of a central bank in a democratic structure. Central banks make macroeconomic policy that influences the everyday life of people; yet they are managed by unelected officials appointed by the...

The FRBM Act was reflective of the shared commitment across political parties towards fiscal conservatism. A decade later, the picture, as reflected in the Union Budget, is yet to change for the better. And given the interests that the current Government represents, a real departure from the...

This paper investigates the relative importance of monetary and fiscal policies in altering real output of Bangladesh. An unrestricted vector auto regression (VAR) framework based on the St. Louis equations, is used to compute variance decompositions (VDCs)and impulse response function (IRF)...

This paper assesses recent theorising and empirical evidence on the impact of fiscal policy—taxes, public expenditures and budget deficits—on long-run growth. It considers the relevance of recent advances in growth theory for low-income countries and compares the evidence for...

Speech of Pranab Mukherjee Minister of Finance, India. [Budget Speech]. URL:[http://indiabudget.nic.in/ub2012-13/bs/bs.pdf].