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Opinion: Bornali Bhandari and Laxmi Joshi.  Small farmers lack access to tools, as the tractor-dominated farm machinery sector suffers from demand, supply constraints India is simply not producing the sort of farm machinery that our small and marginal farmers want or can readily use at a price which appeals to them. Farm machinery comprises equipment...   Read More


  • Investments in transport corridors should pay off

    Opinion: Sanjib Pohit The viability of long-gestation transport projects hinges on rightly projecting future revenue flows. Big Data can help in this. The successive Budgets of the NDA government have emphasised on increased investments to upgrade infrastructure. This is a thrust area in Budget 2023 as well. Roads, transport and the Railways continue to remain...   Read More

  • Union Budget Supports Domestic Consumption as the Main Driver of Growth

    Opinion: Poonam Gupta The 2023-24 Union Budget focuses on domestic consumption as the main engine of growth, followed by public investment as the second, albeit smaller, growth engine. Significantly, it has not equally supported private investment or exports as accelerators of economic growth or generators of employment. The Government’s enthusiastic support to domestic demand is...   Read More

  • Faculty News:  Professor Sonalde Desai Appointed as Fellow  by American Association for the Advancement of Science

    NCAER Professor and Director of the National Data Innovation Centre (NDIC) at NCAER, Sonalde Desai, who holds a joint appointment as a Distinguished University Professor at the University of Maryland College Park, has been named as a Fellow by the American Association for the Advancement of Science (AAAS). In a tradition dating back to 1874,...   Read More

  • A Realistic Survey of the Indian Economy

    Opinion: Poonam Gupta The Economic Survey for 2022-23 has presented the customary wealth of information and data pertaining to the Indian economy. It has provided the growth projections for the current year and next year, as well as a medium-term outlook. Simultaneously, it has also further articulated the rationale for those projections and outlooks. All...   Read More

  • Press Release: NCAER-NSE Business Expectations Survey for 2022–23:Q3

    The Business Confidence Index is higher than it was a year ago but has softened sequentially The National Council of Applied Economic Research (NCAER), one of India’s premier economic policy research think tanks, carried out the 123rd Round of its Business Expectations Survey (BES) in December 2022, with support from the National Stock Exchange of...   Read More

  • Time to take sustainable tourism seriously

    Opinion: Poonam Munjal The sinking of Joshimath or Jyotirmath raises a serious alarm on the sustainability of economic activities, particularly of tourism in various sensitive but highly revered parts of the country. The town has now been declared as a landslide and subsidence-hit zone as well as not suitable for habitation. While it is located...   Read More

  • Now is the time for policymaking aimed at insulating the Indian economy from global shocks

    Opinion: Poonam Gupta and Ayesha Ahmed The global environment seems to have turned less hostile as inflation rates have peaked in advanced economies and oil prices have stabilised at lower levels. So capital flows have started returning to India, the exchange rate is bouncing back and foreign reserves are being rebuilt. Year 2022 turned out...   Read More

  • Slow and steady is how India’s digital currency will win

    Opinion: Barry Eichengreen & Poonam Gupta India needs to adopt a cautious and informed approach to launching a full-fledged digital currency as the prevalent infrastructure may limit its potential benefits. Finance minister Nirmala Sitharaman announced a commitment to issue a digital rupee in her Budget speech delivered on February 1, 2022. Although in the subsequent...   Read More

  • Monetary policy hostage to vegetable prices: PM’s advisory council member

    Opinion: Poonam Gupta; NCAER chief Poonam Gupta moots mechanisms to stabilise prices, buffer economy from shocks India’s economic growth is likely to be subdued in the coming year, but inflation will also subside partly due to monetary policy effects and partly due to base effects, Prime Minister’s Economic Advisory Council member Poonam Gupta said on...   Read More

  • Why extending a swap line to India should be in the interest of Fed as well as RBI

    Opinion: Poonam Gupta; The likeliest benefit that India will draw from a swap line with the US is the ability to thwart any self-fulfilling speculation against its currency during a sell-off episode. India is unlikely to draw upon the swap line just as it has not drawn upon its existing swap line with Japan. Thus,...   Read More