The Reserve Bank of India, in its Annual Policy Statement on April 28, 2005, for the year 2005-06, announced its intention to reorient government debt management operations entailing functional separation between debt management and monetary operations within RBI. This first step initiating the...

Finance for micro, small, and medium-sized enterprises (MSMEs) has been a concern for all stakeholders including entrepreneurs, financial institutions, and government organizations. The key objective of the study was to identify various challenges faced by MSMEs in sourcing of finance during...

India has low pension coverage, and the pension system is unable to fulfill its purpose. A non-contributory, basic pension can guarantee a regular income in old age to all residents of the country, regardless of earning or occupation. The feasibility of introducing such a pension in India is...

The Indian banking sector has experienced considerable growth and changes since liberalisation of economy in 1991. Though the banking industry is generally well regulated and supervised, the sector suffers from its own set of challenges when it comes to ethical practices, financial distress and...

Interest payments are significant component of expenditure, and are a part of the obligatory category of expenditures of the government. A substantial share of the tax collections of the government of India is taken away by interest costs. In 2014-15, interest payments were 3.3 per cent of the...

Should India retain the distinction between revenue and capital classification in its Budget format? There is a constitutional provision for distinguishing between the two expenditures, revenue and capital, and various committees appointed by the Government of India have expressed their opinion...

Since times immemorial, India has been a leading consumer of gold in the world with an ever-increasing demand for the metal. However, due to a shortage of domestic gold, the country has largely been dependent on gold imports to meet this demand, resulting in large current account deficits. In...

India has made concerted efforts since 1955 and more specifically since August 2014 to achieve financial inclusion. While the results are encouraging for general public there has been no effective improvement in situation of people with disability. The study attempts to analyse the efforts, and...

The Fiscal Responsibility and Budget Management Act (FRBMA), 2003 sets fiscal rules that seek to foster fiscal discipline on the Central Government and achieving a balanced budget with effective revenue management. The Act sets targets and suggests means of reducing fiscal and revenue deficits....