Introducing the Volume on India’s Contemporary Public Finance Themes -- Part I: Fiscal Policy and Macro-economy: Can We Become a Viksit Bharat Or Will Be Caught In The Middle Income Trap? -- Regime Switching Approach to Growth Cycles and Fiscal Policy -- Are Fiscal Transfers Pushing the FRBM...

We examine the correlates of district spending and revenue losses following the onset of the Great Recession and the role of fiscal federalism in mitigating these losses. We estimate whether spending and revenue declines were driven primarily by local labor market conditions or the degree of...