In the interwar years (1919–39), macroeconomics was at the forefront of attention of both thinkers as well as policymakers. This paper focuses on Hawtrey, one of the major economists of that period, ...

India’s agriculture growth has shown a steady acceleration over the last two decades, reaching historically high levels in the last 10 years. However, large variations remain in the performance of ...

While agriculture contributes 18% to gross domestic product, the budget’s allocation is skewed towards welfare measures, like food and fertiliser subsidies and MGNREGS, which may not be the most ...

As per the Union Budget 2024–25, the fiscal deficit will be calibrated to ensure a declining path for union debt. Following the approach in Das and Ghate (2022), we calibrate the GDP growth rate and ...

The Union Budget 2024–25 is assessed in terms of three questions: (i) How well does it address the goal of fi scal consolidation? (ii) How does it respond to the key political challenge of ...

The Union Budget 2024–25 is important as it is supposed to give significant policy directions towards attaining the aspirational goal of achieving a developed country status by the centenary year of ...

Harnessing manufacturing sector’s potential for job creation and economic growth requires a balance between export orientation and employment generation, the emphasis on large-scale industries and the ...

Despite ambitious efforts like Make in India, launched in 2014, and key policies such as goods and services tax, Startup India, and Skill India, the manufacturing share in gross domestic product has ...

Though the central bank balance sheet is a refl ection of the interplay of various macroeconomic outcomes, in the Indian context, its relationships with the fi sc and foreign exchange operations are ...

Revisiting the macro contours of the Government of India’s 2024–25 budget, it is found that marginal revisions of nominal growth and buoyancy of gross tax revenues would have resulted in an additional ...

One critical aspect of the amendments to the Fiscal Responsibility and Budget Management Act undertaken in 2018 by the union government is the reduction of the general government debt ratio to 60% of ...

Being the first budget of the new government, it seeks to present a medium-term perspective for major tax handles—income tax, goods and services tax, and customs. The budget also includes specific ...