Indian Economic problems

We study the impact of the Indian trade liberalization of 1991 on development at the district level using satellite nighttime lights per capita as a proxy for development. We find that on average trade liberalization increased nighttime lights per capita but there was considerable heterogeneity in the effect. In particular, districts in states with flexible labor laws, districts with better road networks, proximity to the coast, or higher female labor force participation rate seem to have benefited more than other districts.

Micro, Small, and Medium Enterprises (MSMEs) have been pivotal in driving the economy’s
development, not only in the local context but also globally. However, despite their significant contributions,
these enterprises often face obstacles that prevent them from fully leveraging their resources for further
economic development. Among these challenges, financial resources stand out as a predominant issue. As
a result, many MSMEs experience declining profits or struggle with increasing losses. Consequently, state
financial corporations, such as, the Karnataka State Financial Corporation, have emerged as a crucial
solution to the financial woes of MSMEs, offering substantial relief and support. In this background,
this study attempts to examine the performance of the corporation and its impact on the development of
MSMEs in the state. For this purpose, operational statistics of the corporation for a period of 10 years,
2013-14 to 2022-23, are collected and used.

This paper examined the impact of dollarisation on monetary policy in Nigeria, using monthly data spanning 2002 to 2016. The paper adopted the conventional IMF proxy for dollarisation and traced its reactions to changing monetary policy stance. Using the vector autoregression (VAR) model and interbank rate as an indicator of monetary policy stance, the results showed that the size of dollarisation could influence the outcome of monetary policy, though the impact was small. This was evident from the output equations, that inflation did not respond in the first month and responded negatively in the second month. However, from the third to sixth month, it responded positively before it eventually returned to equilibrium. The overall impact of dollarisation on exchange rate is dependent on the degree of dollarisation. The conclusion from the results was that monetary policy could still be effective with the present level of dollarisation.

COVID-19 is only the latest in a series of global pandemics that began when the world of disease was united by the establishment of intensive connections by sea after 1500. India was a major participant in this process. A pandemic has both direct and indirect effects. Human reactions to mass illness both mitigate and enhance these effects. The networks of transmission are paralleled by networks of private and public information. But aggregated information only becomes available as governmental information systems take shape. This article explains the use of quarantine as emerging from both. It then explains why it was introduced to India only after 1800. It then looks at three great pandemics: cholera, bubonic plague and lethal influenza and governmental and societal responses to each of these. The article analyses the subsidence of pandemics into chronic presences ('background') that nonetheless contributed significantly ill-health, poverty and early death for hundreds of millions. But there is a paradox after Independence. Successful state action in independent India was nevertheless accompanied by the effective collapse of government information systems. This contributed to the massive economic damage from what should have been a minor episode of plague in 1994. The article thus reviews what we know about the effects of the pandemic, epidemic and chronic background phenomena on the economic life of Indian sub-continent through the past 500 years.

This research quantitatively investigates the evolving landscape of India's labor market, focusing on the persistent stagnation of the manufacturing sector, the stratification within the burgeoning gig economy, and their implications for socioeconomic outcomes. Utilizing simulated data to mimic the characteristics of large-scale survey datasets such as the Periodic Labour Force Survey (PLFS) and Centre for Monitoring Indian Economy-Consumer Pyramids Household Survey (CMIE-CPHS), the study tests three core hypotheses. Firstly, it examines the time-series trends of employment shares in manufacturing versus informal urban services. Secondly, it explores the socioeconomic and demographic predictors, particularly caste and education, influencing entry into the high-skill gig economy. Lastly, it conducts a comparative analysis of financial health indicators-income level, income volatility, savings rate, and debt-to-income ratio-across formal salaried workers, high-skill gig workers, low-skill gig workers, and traditional informal labor. The findings from the simulated data suggest a stagnant manufacturing employment share contrasted with a significant increase in urban services employment. Furthermore, the analysis indicates that social group and vocational training are significant predictors of participation in the high-skill gig economy. Financial health indicators reveal significant disparities, with gig workers generally exhibiting higher income volatility, lower savings rates, and higher debt-to-income ratios compared to formal salaried workers. The study also incorporates an analysis of Urban Company's financial performance and its implications for high-skill gig workers. These results underscore the structural shifts in the Indian economy towards a more precarious, stratified, service-led model and highlight the need for targeted policy interventions to address labor market inequalities and enhance social security for gig workers.

The major objective behind writing this research paper is to analyze the complete process of disinvestment of the Public Sector Enterprises and outline the effect of the same. The effect of disinvestment of PSUs depends upon the development status of a country. For a developing country such as India, health, education and medicine requires utmost attention and selling of the shares in the PSUs aids the government to provide this attention to the designated areas. The research paper also involves a comparative study of both the old policies of disinvestment followed in India as well as the new policies incorporated by the government. The study will basically facilitate the understanding as to whether the government has been able to cover the loopholes which were evident in the old process. The researchers have selected the topic keeping in mind the significant and critical need to discuss and analyse the whole process of disinvestment of PSUs in India with respect to the present conditions, circumstances, economical and legal sphere. A clear idea on the effect of the same was necessary to be traced. The method of research utilised for the purpose of this research paper is the doctrinal method and involves both a qualitative as well as a quantitative

Growth in agricultural productivity can be due to growth in intensive use of inputs or it may be technology driven. Many studies reported the recent growth on agricultural productivity especially after the year 2004-05. The key question is whether this growth in agricultural productivity will be sustainable? The paper attempts to answer this question based on analysis of total factor productivity growth of the crop sector based on country data during the last 31 years (1980-81 to 2011-12). Tornqvist index methodology has been used for estimation of TFP index for each year. Further, TFP growth has been analysed during four structural breaks. It is observed that annual TFP growth in recovery phase of agriculture, i.e., during 2004-05 to 2011-12 is as high as 5.41. An important contribution of the study is estimation of TFP indices at alternate price scenarios like market price, input price and with exclusion and inclusion of labour wage bill. Further, it is estimated that the contribution of TFP in output growth has been nearly 88 per cent at economic prices. Thus, the paper concludes that recent growth in agriculture is going to be sustainable.

India has seen lower inflation by historical standards for the past 6 years. This has been attributed to the adoption of inflation targeting by the central bank, the Reserve Bank of India in 2016. In particular, it has been asserted that the lower inflation reflects the anchoring of expectations. We evaluate these claims. An econometric investigation indicates that there is no basis to the claim that inflation has been lowered due to the anchoring of expectations. On the other hand, we are able to account for the trajectory of inflation in India after 2016 in terms of an alternative explanation of inflation, namely the structuralist.

The informal credit market exhibits a number of striking features, of which include interlinkage and segmented markets. However, there is little existing theoretical analysis as to how segmentation arises within informal credit markets. I construct a new theoretical model of interlinkage in the context of the Hold Up Problem and moral hazard. I then utilise this framework to model the endogenous emergence of segmentation. I nd that if the Contested Segment has a su cient degree of market power, segmentation will arise. Under segmentation, I nd the the e ort levels are greater within the Home Segment when compared to the Contested Segment. These results are driven by the degree of social capital held between a farmer and trader which the Hold Up Problem encapsulates, and the level of market power that exists within informal credit markets. Further, I utilise this framework to analyse the impact of an Interest Rate Ceiling, and the entry of a Micro nance Institution, on the welfare of...

This study examines the nature, extent, and correlates of non-Kisan Credit Card (non-KCC) institutional loans availed by marginal farmers in Haryana. Using primary data collected from 320 marginal farmers across the Eastern (wet) and Western (dry) agro-climatic zones, it analyzes the loan types, sources, amounts, interest rates, repayment patterns, and socio-economic determinants. The study finds that while commercial banks dominate as lenders, socio-economic variables such as education, income, landholding, and mass media exposure significantly affect the amount of loan availed. The findings reveal that commercial banks are the dominant lenders, accounting for 67.17% of non-KCC loans, with their share significantly higher in the Eastern zone (75.47%) than in the Western zone (57.61%). Short-term loans constituted the majority at 71.21%, with the Eastern zone showing a higher preference for such loans (72.64%) than the Western zone (69.56%). In contrast, medium and long-term loans had greater prevalence in the Western region, suggesting a need for asset creation and income diversion. Findings contribute to the data base on rural credit by highlighting disparities in credit access and repayment behavior in different agro-climatic contexts.

In early 1991, a major economic crisis occurred in India due to worsening balance of payments situation. To tackle the problem the country introduced a policy of macroeconomic stabilization and structural reforms. The widening gap between the public revenue and public expenditure resulted in growing fiscal deficit which was financed by borrowings. The internal imbalance in the fiscal situation and the external imbalance in the payments situation wee closely related. A widening current account deficit and fiscal deficit precipitated the crisis. To counter the worsening economic situation India launched a programme of economic reforms that principally had two components: Structural reforms and Macroeconomic stabilization. In the last three decades or so the Indian economy has flourished by registering sustained economic growth. There is improved fiscal management and the external payments situation has substantially got better. The economy is much bigger in size and the per capital income an indicator of rising living standard has risen substantially. India currently is the fifth largest economy in the world. Rising economic growth has been accompanied by sharp decline in poverty, expansion of trade, industry and services and rural transformation.

This paper attempts to analyse the supply side of the labour market, with inherent differences between males and females in developing and underdeveloped nations in Southeast Asia, where gender inequality is a pressing concern. This paper departs from existing literature in that we focus specifically on labour disparities within these regions, which are known for high levels of gender discrimination. The basis of this paper is certain empirical findings which highlight the negative relation between rising national income and the education level of women with the female labour participation rate in the economy. We introduce a theoretical model that explores how different social expectations for men and women affect labour market choices for them. Women face different constraints such as unpaid household work and higher overhead costs associated with work which reduces their free time for paid work and increases the incentives required for them to decide to provide labour in the labour market under certain conditions. To further our theoretical analysis we also demonstrate how our model reflects real-world conditions in Southeast Asian economies, specifically India. In our final section, we underscore the fact that targeted government interventions are required to help empower women, along with a strong social equality movement.

Today, India is much more integrated with the world economy through both the current and capital accounts. The down turn that appears to have begun in the USA in September, 2008 have negative impact on Indian economy. The most immediate effect of this global financial crisis on India is an out flow of foreign institutional investment (FII) from the equity market. This withdrawal by the FIIs led to a steep depreciation of the rupee. The banking and non-banking financial institutions have been suffering losses. The recession generated the financial crisis in USA and other developed economies have adversely affected India's exports of software and IT services. For fighting this crisis, government responded through its monetary policy by pumping the liquidity into the system rather than using effective fiscal policy i.e. public expenditure and investment to face the recession. No doubt, government has introduced three fiscal stimulus packages for stimulating demand in the economy but it is not sufficient, the larger government expenditure should be oriented towards agriculture and infrastructure. The present paper is an attempt to analyze the impact of recent global financial meltdown on Indian economy. The paper is divided into three sections. In the first introductory section, we have discussed the features of recent global financial meltdown. The section two, deals with the impact of this crisis on Indian economy. Conclusion and suggestions have been given in the third section.

This study makes an empirical analysis of state finances in India by recognising the changes that have occurred in many exhaustive lists of fiscal parameters. It constructs a composite Fiscal Performance Index (FPI) for 17 non-special category states for the period 2003-04 to 201415 to evaluate the progress of the states in India in terms of fiscal parameters. The composite FPI is made up of five major sub-indices which are Deficit Index, Revenue Efficiency Index, Expenditure Quality Index, Debt Index, and Debt Sustainability Index. Each of this subindex is mapped into two minor sub-indices reflecting utilisation of a total of 10 indicators in constructing the FPI. Both Relative Distance Method and Z-Score Method are used to build this index. The study evinces huge inter-state variation in the level of FPI and persistent deterioration of FPI level.

This volume – the third and conclusive one of a history of India since the early human settlements – examines the political, economic and social evolution of India from independence to the 2014 general election. It argues that the period is subdivided into two main phases; the Longer Nehruvian Era, which extended well after Nehru’s death in 1964, and the Neoliberal Age. The book shows that the Longer Nehruvian Era was articulated in two stages. In the first, which ended with Nehru’s death, the features which characterized India until the late 1980s and early 1990s came into being. The main ones were a secular democracy, a dominant-party system, and an economy where the state played a crucially important economic role. The second stage of the longer Nehruvian era was characterized by the pronounced decline of these characterizing features, in particular secularism, which, however, were still in place at the end of the 1980s. The years 1989-1991 – here examined in depth – saw the tumultuous transition to a new historical phase. This new phase, the Neoliberal Age, was characterized by the eclipse of the dominant party system and the implementation of neoliberal economic policies. The neoliberal policies speeded up development but, in spite of some governmental efforts to protect the lower social strata, widened social and economic disparities. The Neoliberal Age was also characterized by the rise of Hindutva. Already in power in the years 1999-2004, it made a comeback in the 2014 general election, whose detailed analysis concludes this volume.

After the first generation of fiscal reforms in the Indian states following the fiscal responsibility legislations, it is time for the states to focus on their capex while finding a way to limit the unproductive expenditure due to freebies.

This presentation critically examines the triad of Liberalization, Privatization, and Globalization (LPG) as transformative forces in the global economic landscape. It highlights the historical evolution and policy frameworks that paved the way for these economic reforms, emphasizing their impact on trade, industries, and financial systems. The discussion underscores how liberalization has facilitated the removal of trade barriers, privatization has shifted the control of enterprises from the public to the private sector, and globalization has fostered interconnectedness among nations. While these reforms have contributed to economic growth and innovation, the presentation also explores their socio-economic challenges, such as inequality, environmental concerns, and cultural homogenization. Through case studies and analytical insights, this presentation aims to provide a balanced perspective on the implications of LPG in the modern era.

This study is primarily focused on the productivity impacts of the provision of infrastructure on the registered manufacturing sector in India. This is analyzed by estimating the cost elasticity of infrastructure inputs. For this purpose we postulate a variable cost function model for the manufacturing sector with cost as a function of the prices of the variable inputs, levels of output and infrastructure stocks. Variable inputs include capital, labour and intermediate input. Infrastructure is assumed to be a quasi-fixed input since its provision is done mainly by the public sector and it cannot be instantaneously adjusted in the short-run. The cost function model estimated consists of the variable translog cost function and the cost share equations for the variable inputs. We have used time series data and it pertains to the period 1965-1999. Twenty-three infrastructure variables are used in this study which, are aggregated using the principal component methodology. Three alternative specifications of the quasi-fixed inputs are explored. The alternatives are economic infrastructure, social infrastructure and aggregate infrastructure. Estimated results suggest that infrastructure provision enhances the productivity in the manufacturing sector and it helps to lower the costs in the sector. Apart from this it also has several bias effects with respect to the variable inputs.

This study is primarily focused on the productivity impacts of the provision of infrastructure on the registered manufacturing sector in India. This is analyzed by estimating the cost elasticity of infrastructure inputs. For this purpose we postulate a variable cost function model for the manufacturing sector with cost as a function of the prices of the variable inputs, levels of output and infrastructure stocks. Variable inputs include capital, labour and intermediate input. Infrastructure is assumed to be a quasi-fixed input since its provision is done mainly by the public sector and it cannot be instantaneously adjusted in the short-run. The cost function model estimated consists of the variable translog cost function and the cost share equations for the variable inputs. We have used time series data and it pertains to the period 1965-1999. Twenty-three infrastructure variables are used in this study which, are aggregated using the principal component methodology. Three alternative specifications of the quasi-fixed inputs are explored. The alternatives are economic infrastructure, social infrastructure and aggregate infrastructure. Estimated results suggest that infrastructure provision enhances the productivity in the manufacturing sector and it helps to lower the costs in the sector. Apart from this it also has several bias effects with respect to the variable inputs.

As a need of an hour which travelled to years, decades and centuries in between nation to nations; kept them in continuous changing mode. But this doesn't mean the basic structure of the foreign policy be scarifies. They were being safeguarded through extent of existence. India being experienced in Diplomatic immunity performed pro to both Bipolar and Unipolar system across the world as a Nehruvian realistic approach in his era and under the image of cultural power, soft power pace to a multialignment approach to foreign policy dimensions were mainframe to the different political parties as being in the government machinery. These policies related with external affairs bring many forms of development and progressive tendencies to the new scientific and the neo liberal economic changes as a performer in the third world nations.

The global outbreak of COVID-19 in 2020 prompted unprecedented fiscal responses by governments worldwide, leading to a substantial surge in public debt levels. This study explores the multifaceted impact of the pandemic on public debt, dissecting the related fiscal policies adopted by governments. Using a comparative analysis of 5 countries, we investigate the intricate relationship between fiscal stimulus measures and the ensuing increase in public debt. Our findings reveal a statistically significant positive correlation between the extent of fiscal stimulus, measured as a percentage of GDP, and the increase in public debt, suggesting that expansionary fiscal policies played a central role in mitigating the economic fallout. Moreover, we scrutinize the diverse economic implications of escalating public debt. Our analysis highlights the complex interplay between public debt and key economic indicators, including inflation rates and interest rates. These variations underscore the nuanced nature of the debt-inflation relationship and the importance of tailoring fiscal strategies to specific economic conditions. Additionally, we delve into the fiscal strategies employed by countries to address rising public debt, encompassing measures such as fiscal consolidation and considerations of debt monetization. The effectiveness of these strategies is presented alongside the potential long-term implications. Finally, the study underscores the pivotal role of international cooperation in managing the global challenges posed by public debt. The collaborative efforts of international organizations, particularly the IMF and World Bank, emphasize the interconnected nature of public debt issues and the importance of well-coordinated responses. This research contributes to a deeper understanding of the economic repercussions of the pandemic and provides valuable insights for policymakers, economists, and international organizations in navigating the complex economic landscape in the aftermath of COVID-19.

India’s urban areas have grown manifold over the years and continue to attract migrants and economic investments. However, governance has not kept pace with the changing needs. The promises of three major national
political parties on urban governance and cities are examined to compare the different promises of change being made in this context.

The Public Finance Review (PFR) builds on PFR I by extending the analysis of human capital with a particular focus on assessing spending in the education sector. The quality of education, one of the main pillars of human capital development, has improved in Armenia over the last 25 years, however, progress can still be made. For example, while the actual number of years of schooling in the country is, on average, 11.3 years, when adjusted for learning, this number drops to only 8 years of schooling. Additionally, Armenia’s education expenditure is currently around 2.5 percent of GDP (2018–2022 average), which is relatively low compared to its peers. Chapter two evaluates the efficiency and equity of spending in the education sector.

Vertical intra-industry trade dominates horizontal intra-industry trade in Korea. A time series analysis on both these types of intra-industry trade yields the following: (1) vertical intra industry trade was caused by the rapid economic development that the Korean economy experienced in the past thirty years and (2) horizontal intra-industry trade was more random in nature caused only by the aggregate volume of trade.

We propose a method for constructing a tax administration measure of effectiveness or TAME, and describe its desirable properties. We then empirically construct a TAME using data from external audits of VAT administrations of Indian state governments. We then use the TAME to quantitatively assess the impact of tax administration effectiveness on tax revenues. The impact is found to be both statistically significant and large. We then identify causes of tax administration effectiveness in the poorly performing states. We then suggest guidelines for constructing our TAMEs for other jurisdictions and time periods.

Using the latest (2016) version of the India KLEMS Dataset and following the KLEMS approach this paper analyzes growth, structural change and productivity advance in the Indian economy in the period 1980-2014. The KLEMS approach takes into account the roles played by capital, labour, energy, materials and services inputs in output growth by industries. In our analysis, we divide the

Non-stationary time series are a frequently observed phenomenon in several applied fields, particularly physics, engineering and economics. The conventional way of analysing such series has been via stationarity inducing filters. This can interfere with the intrinsic features of the series and induce distortions in the spectrum. To avert this possibility, it might be a better alternative to proceed directly with the series via the so-called time-varying spectrum. This article outlines the circumstances under which such an approach is possible, drawing attention to the practical applicability of these methods. Several methods are discussed and their relative advantages and drawbacks delineated

This study examined the impact of government sectoral expenditures on economic growth and development in Nigeria from 1986 to 2022. GDP was used to measure economic growth, while the United Nations Human Development Index was used to measure economic development. The data was obtained from Central Bank of Nigeria Statistical Bulletin (2022) and United Nations Human Development Report (various issues). The analysis was carried out using autoregressive distributed lag (ARDL) regression technique. The study revealed that government expenditures on education has negative and significant impact on economic growth in Nigeria, but has positive but insignificant impact on economic development in Nigeria. The result also indicated that government expenditures on health has positive and significant impact on economic growth in Nigeria, but has negative and insignificant impact on economic development in Nigeria. However, government expenditures on agriculture and government expenditures on infrastructure have negative and insignificant impact on economic growth and development in Nigeria over the period investigated. Based on the empirical results, the study concluded that government sectoral expenditures have not significantly contributed to economic growth and development in Nigeria as expected. Therefore, the researcher recommended that the government should adopt a balanced-growth strategy in the development of the education, health, agriculture and infrastructure sectors in Nigeria. The simultaneous development of these sectors is crucial to addressing the immediate challenges of the Nigerian economy. If Nigeria must grow and develop, these four sectors must be given greater attention in the budgetary allocation of the government for the next decade.

In its stride toward industrialisation among the categorised regions, Gujarat has secured the position of a rapidly developing State. The industrial development in the state's backward, developing and developed regions, being region-specific, has different technological relations among industry groups. This leads to variations in the levels of industrial development. Access to known technologies and adoption and adaptation rates differ among these regions. This is prominently seen in varying technological relations among region-specific industry groups.  While enumerating the basic industrial characteristics of the given region, industry groups with a relatively better scale of technology adoption and adaptation induce other slow-performing industry groups to make up their performance by imbibing the demonstration effects. 
Spatial dimensions of technological relations are focused on while comparing industry structures of different regions. The inter-regional comparison of industry structure is highlighted by examining the differences between inter-industry technological relations. This paper examines the structural aspects of different industry groups such as (a) the functional relationship between factor inputs and output levels, in different industry groups at the regional and state levels, (b) the elasticity of substitution between factor inputs, and (c) returns to scale.
Cobb-Douglas production functions are estimated in different forms for each industry group at the state level and for each industrially homogeneous region.  The estimated production functions provide benchmarks for comparison.
Production functions of three-digit level industry groups are estimated in two exercises using ASI firm-level cross-section details (census and sample sectors) for 1969. The firm-level details are sorted by industry group first at the state level and second among industrially homogeneous regions. Production functions highlight the existing production technologies in different industry groups at the state level and within industrially homogeneous regions.

It is integration of the economy of the country with the world
economy. India is still facing poverty due to corruption. In India
Globalization commenced since 1991 which were crises driven.
Globalisation is the product of the policies of liberalisation and
Privatisation. The overall unemployment rate is 9.4%, and it is spilt out
as 10.1% in rural areas, and 7.3% in urban areas. The Eleventh Five
Year Plan strategies rapid growth in employment opportunities along
with improvement in quality of employment. MGNREGA is an important
step towards the realization of the right to work and to enhance the
livelihood security of the households in the rural areas of the country.

In India’s federal financial structure, the management of the public finances of the states is equally, if not more, important than the public financial management of the union. The article presents a composite index of public financial management by assimilating various important indicators over the last 10 years. All states have been ranked according to this index on their performance. Such work assumes importance in the context of increased spending by some states on populist measures beyond sustainable limits, and the increasing indebtedness of certain states.

Conditions for stability in an open economy dynamic stochastic general equilibrium model adapted to a dualistic labor market (SOEME) are the same as for a mature economy. But the introduction of monetary policy transmission lags makes it deviate from the Taylor Principle. Under rational expectation a policy rule is unstable, but under adaptive expectations traditional stabilization gives a determinate path, with weights on the objective of less than unity. Estimation of a Taylor rule for India and optimization in the SOEME model itself, all confirm the low weights. The results imply that under rational expectations optimization is better than following a rule. If backward looking-behavior dominates, however, a policy rule can prevent overshooting and instability. Economy-specific rigidities must inform policy design, and the appropriate design will change as the economy develops.

This research paper delves into the socioeconomic status of grape growers in the Nashik district of Maharashtra, India. Nashik has emerged as a significant grape-growing region in the country, contributing substantially to the agricultural economy. The study aims to provide a comprehensive analysis of the socioeconomic factors influencing grape cultivation in the region, including aspects related to income, education, landholding, technological adoption, and market integration. By shedding light on the challenges and opportunities faced by grape growers, the research seeks to inform policies and interventions that can enhance the livelihoods of this vital agricultural community.

Non-stationary time series are a frequently observed phenomenon in several applied fields, particularly physics, engineering and economics. The conventional way of analysing such series has been via stationarity inducing filters. This can interfere with the intrinsic features of the series and induce distortions in the spectrum. To avert this possibility, it might be a better alternative to proceed directly with the series via the so-called time-varying spectrum. This article outlines the circumstances under which such an approach is possible, drawing attention to the practical applicability of these methods. Several methods are discussed and their relative advantages and drawbacks delineated

Mohanty, both former Directors DRG extended every possible cooperation during he course of the study. Useful discussions were often had with Shri K.Kanagasabapathy, Adviser-in-Charge, MPD and Shri D.Anjaneyulu, formerly Officer-in-Charge, DEAP who gave us generously of their time. Finally, thanks are due to Shri

This paper assesses the impact of the spread of COVID-19 and the lockdown on wholesale prices and quantities traded in agricultural markets. We compare whether these impacts differ across non-perishable (wheat) and perishable commodities (tomato and onion), and the extent to which any adverse impacts are mitigated by the adoption of a greater number of agricultural market reform measures. We use a granular data set comprising daily observations for 3 months from nearly 1000 markets across five states and use a double-and triple-difference estimation strategy. Expectedly, our results differ by type of commodity and period of analysis. While all prices spiked initially in April, they recovered relatively quickly, underscoring the importance of time duration for analysis. Wheat prices were anchored in large part by the minimum support price, while tomato prices were lower in some months. Supply constraints began easing in May with greater market arrivals perhaps reflecting distress sales. Market reform measures did help in insulating farmers from lower prices, but these effects are salient for the perishable goods, and not so much for wheat where the government remained the dominant market player. Taken together, these results point to considerable resilience in agricultural markets in dealing with the COVID-19 shock, buffered by adequate policy support.

We analyze behavior of food prices in India during the last decade at a disaggregate level. Systematic decomposition shows that eggs, meat, fish, milk, cereals, and vegetables are the main contributors to food inflation. Fruits and vegetables showed a much higher short-term volatility in prices. All the major contributors possess a higher weight in the consumption basket, indicating that the weight of a commodity has much larger bearing on its overall contribution to food inflation, as compared to other factors such as base effect or percentage change in prices (inflation). The inflation-volatility patterns reveal that the commodities that have higher income elasticity of demand but have limited processing and storage facilities, such as fruits and vegetables, are characterized by higher volatility. Econometric analysis shows that while cereal and edible oil prices appear to be mainly driven by supply-side factors such as production, wage rates, and minimum support prices, for pulses, the effects of supply and demand factors appear almost equal. On the other hand, prices of eggs, meat, fish, milk, and fruits and vegetables appear to be driven mainly by demand-side factors. Price projections show that the eggs-meat-fish-milk group shows the highest increase because of the higher income elasticities of demand and the rapid increase in India's per capita income in the recent years. Keywords Inflation • Food prices • Food inflation • India The authors would like to extend special thanks to the anonymous reviewer of the journal for very insightful suggestions/comments. Special thanks to the International Food Policy Research Institute (IFPRI) South Asia office and the Institute of Economic Growth (IEG) for the support provided. Thanks are also due to the participants of various conferences at IFPRI, IEG, Indian Statistical Institute and Centre for Economic and Social Studies, where this paper was presented, for their comments/suggestions. The usual disclaimer applies.

India has witnessed both economic progress and democratic backsliding.The GDP for FY 24-25 is projected to be at 8.2% which demonstrates the marvelous growth trajectory of India.However,there are concerns about religious tensions among communities and democracy taking a backseat. This article explores the themes of India' economic growth, the factors behind the expansion of the economy using economic indicators, democratic concerns in India. It also highlights how backsliding democracy is hindering economic growth and how we can ensure that both economy and democracy remain intact in India. The article reveals the tale of India's growth and whether it is ready to become a $10 trillion economy right now.

Kerala’s fight against the coronavirus disease 2019, the COVID-19 pandemic turned out to be a public action making it an exemplar to not only the rest of the states in India but also the world as a whole. Its public action-oriented containment of the pandemic has been the outcome of multiple factors specific to the state. Despite the grave challenges confronted by the state, its experience offers new opportunities for setting a new public culture. However, the emerging opportunities and their realisation in the post-COVID-19 phase depend on an effective and visionary leadership that can translate them for the potential development of the state.