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Is India Ready for Tariff Reforms?

Vol. 57, Issue No. 38, 17 Sep, 2022
Aaheli Ahmed, Debashis Chakraborty

Recent trade models with fi rm heterogeneity predict that trade liberalisation reduces the number of fi rms and the fi rms’ markups, while it increases the average size of fi rms. The present study attempts to test these predictions in the context of trade reforms in India with the Annual Survey of Industries data over two decades (1987–88 to 2017–18) by using a difference-in-difference approach and comments on the recent policy framework in that light.

Export Performance and India’s Tryst with Self-reliance in the Globalised World

Vol. 57, Issue No. 4, 22 Jan, 2022
Aradhna Aggarwal

India has embarked on the path of self-reliance with no clear road map. This paper highlights the need to demystify the concept and argues that any path to self-reliance would require creating new productive capabilities that would be determined not by what the country can produce but what it can export. Following the “product-space” perspective, promoted by Ricardo Hausmann and others at the Growth Lab of Harvard University stating that a country’s capacity to add new capabilities depends strongly on the existing ones, I assess India’s export performance since 1988 along three dimensions: growth, diversification, and upgrading, with the objective to understand how well India is prepared to achieve the goal in this globalised world and recommend developing a well-informed export strategy.

 

COVID-19 Economic Stimulus and State-level Performance of Power Distribution Companies

Vol. 56, Issue No. 43, 23 Oct, 2021
Amandeep Kaur, Lekha Chakraborty, Divy Rangan

As part of the COVID-19 economic stimulus package, the Government of India increased the borrowing limit of the states from 3% to 5% of the gross state domestic product. The power sector reform at the state level is one of the criteria to avail this extra borrowing. The efficiency parameters of the power sector are analysed here, and it is observed that there are statewise differentials in the financial and operational parameters. The average aggregate technical and commercial losses that should have been 15% by 2018–19, presently, on average, stand at 26.15%. The average cost of supply–average revenue realised has also widened. The operational parameters indicate widening inefficiencies across states in the power infrastructure.

 

Marginalising the Marginal: Supply-side Approach in the 2021–22 Budget Will Not Work

Vol. 56, Issue No. 21, 22 May, 2021
The union budget is the biggest single event of the economy in any given year. No other economic event can match it in terms of its impact, except when there are shocks such as a drought or a demonetisation or a pandemic induced lockdown. Those who argue for downsizing the government argue that the budget does not matter since it cannot make much of a difference to the economy. But even they spend considerable time analysing the union budget. Why is that so?
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