D K SRIVASTAVA

I am happy to share with you the 93rd issue of the EY Economy Watch pertaining to July 2024.

This issue contains a foreword titled ‘Sustaining momentum of growth and employment with fiscal consolidation’ and an in-focus section captioned ‘Fiscal reforms: FY15 to Budget FY25 and beyond’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://www.ey.com/en_in/tax/economy-watch/union-budget-2024-25-accelerating-fiscal-consolidation-for-sustained-growth

The archives of the EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

I am happy to share with you the 92nd issue of the EY Economy Watch pertaining to June 2024.

This issue contains a foreword titled ‘Robust government finances to sustain growth momentum’ and an in-focus section captioned ‘Fiscal trends and FY25 budget prospects’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://www.ey.com/en_in/tax/economy-watch/what-to-expect-from-india-s-union-budget-2024-25

The archives of the EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

I am happy to share with you the 91st issue of the EY Economy Watch pertaining to May 2024.

This issue contains a foreword titled ‘Laying India’s medium-term growth foundations despite continued global stress’ and an in-focus section captioned ‘India and the changing contours of the evolving global economy: some key dimensions’

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://www.ey.com/en_in/tax/economy-watch/how-india-can-recast-its-role-in-the-emerging-global-order

The archives of the EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

Sharing the 90th issue of the EY Economy Watch pertaining to April 2024.

This issue contains a foreword titled ‘India’s FY25 growth continues the 7% plus post COVID performance for the fourth successive year’ and an in-focus section captioned ‘Global population trends: India’s opportunities and challenges’

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://www.ey.com/en_in/tax/economy-watch/population-trends-in-the-21-st-century-what-are-india-s-opportunities

The archives of the EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

The 88th issue of the EY Economy Watch pertaining to February 2024 contains a foreword titled ‘FY25 Interim Budget: balancing fiscal consolidation with growth’ and an in-focus section captioned ‘Abiding by the Dharma of Vote on Account: growth preserving fiscal consolidation’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://www.ey.com/en_in/tax/economy-watch/budgeting-for-balancing-growth-and-fiscal-discipline

The archives of EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

The 87th issue of the EY Economy Watch pertaining to January 2024 contains a foreword titled ‘FY25 Interim Budget: reducing fiscal deficit may imply easing of capital expenditure growth’ and an in-focus section captioned ‘Growing government indebtedness: sustainability signals from the Budget’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://www.ey.com/en_in/tax/economy-watch/how-fy-25-budget-can-tackle-fiscal-imbalances-and-signal-sustainability

The archives of EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

I am happy to share with you the 86th issue of the EY Economy Watch pertaining to December 2023.

This issue contains a foreword titled ‘Indian economy to scale 7% in spite of global drag’ and an in-focus section captioned ‘Sixteenth Finance Commission: starting from the constitutional slate’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at:  https://www.ey.com/en_in/tax/economy-watch/16-th-finance-commission-the-benefits-of-brevity-in-terms-of-reference
The archives of EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

The 85th issue of the EY Economy Watch pertaining to November 2023 contains a foreword titled ‘Budgeting for FY25: from Interim to Main Budget’ and an in-focus section captioned ‘Economic and fiscal outlook for FY25’s Interim Budget’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://lnkd.in/gK8rPR8K

The archives of EY Economy Watch can be accessed at: https://lnkd.in/gf3nxAb

The 84th issue of the Economy Watch pertaining to October 2023 contains a foreword titled ‘India shines as a powerhouse of global growth’ and an in-focus section captioned ‘State economies and government finances: recovering from COVID-19 and beyond’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://lnkd.in/gJz8Nn7Z

The archives of EY Economy Watch can be accessed at: https://lnkd.in/gf3nxAb

The 83rd issue of the EY Economy Watch pertaining to September 2023 contains a foreword titled ‘India’s increasing role in facilitating sustainable global economic growth’ and an in-focus section captioned ‘India’s economic opportunities in the expanded G-20 group’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at:  https://www.ey.com/en_in/tax/economy-watch/how-the-expanded-g-20-offers-unique-economic-opportunities-for-india

The archives of EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

The 82nd issue of the EY Economy Watch pertaining to August 2023contains a foreword titled ‘Inflationary pressures emerge while fiscal initiatives support growth’ and an in-focus section captioned ‘India - towards becoming the third largest economy in the world’.

The In-focus section of this issue highlights India’s relative prospects of growth in the medium term while discussing not only GDP but also other critical parameters of economic progress and prospects along with required policy initiatives to ensure sustaining growth at a high level.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://lnkd.in/gEpNfEfH

The archives of EY Economy Watch can be accessed at: https://lnkd.in/gf3nxAb

The June 2023 issue of the Economy Watch contains a foreword titled ‘With post-COVID-19 recovery, India emerges as a global growth leader in the medium term’ and an in-focus section captioned ‘Would El Nino dampen India’s FY2024 growth prospects?’.

A short article summarizing the key messages of the current issue of the EY Economy Watch is available at: https://www.ey.com/en_in/tax/economy-watch/how-el-nino-can-impact-indias-economic-growth-prospects-for-fy-2024

The archives of EY Economy Watch can be accessed at: https://www.ey.com/en_in/tax/economy-watch

Economy Watch provides an in-depth review of salient developments in India’s macroeconomy and economic policy in a global context.
It has established itself as a thought leadership publication, providing valuable inputs for policymakers in the central and state governments, academicians, industry and businesses and other stakeholders.

Economy Watch was launched for public distribution soon after demonetization in December 2016. Since then, nearly 77 issues have been published.

It covers various macro-fiscal dimensions of the Indian economy including growth, inflation, government finances, external trade, monetary and financial sectors. It places India in a comparative economic framework using selected developed and developing countries.

Two innovative indices have been developed to capture changes in aggregate demand and macroeconomic imbalances in the Indian economy. The analysis in the Economy Watch is based on monthly, quarterly and annual data sourced from national and international sources.

Every month, a focused theme of contemporary economic importance is identified for a deep and insightful analysis which provides useful inputs and recommendations.

The March 2023 issue of the Economy Watch contains a foreword titled ‘Revisiting the adverse impact of COVID-19 and assessing India’s current growth prospects’ and an in-focus section captioned ‘India’s $1 trillion state economies’.

This paper examines the long term profile of fiscal deficit and debt relative to GDP in India, with a view to analysing debt-deficit sustainability issues along with the considerations relevant for determining suitable medium and short-term fiscal policy stance. The impact of debt and fiscal deficit on growth and interest rates that arises from their effect on saving and investment are critical in any examination of sustainability of debt and deficit. It is argued that large structural primary deficits and interest payments relative to GDP have had an adverse effect on growth in recent years. The Fiscal Responsibility and Budget management Act (FRBMA) of the central government has certain positive features. While the fiscal deficit target has been defined, it should be considered in conjunction with a target debt-GDP ratio. Further, the central FRBMA should be supplemented by state level fiscal responsibility legislations and an effective hard budget constraint on subnational borrow...

The Canadian system of fiscal transfers, which has been developed over a long period of time, has two central features: equalisation grants, which are constitutionally guaranteed, and the Canadian Health and,Social Service Transfers (CHST). This paper examines,the relevance,and applicability of the Canadian system,of intergovernmental transfers in the Indian case. Equalisation grants are meant,to ensure that provinces,have,sufficient revenues,to provide,reasonably,comparable,levels of services at reasonably comparable,levels of taxation. An elaborate ‘Representative Tax System’ approach,using individual revenue,bases is used in Canada for determining the equalisation grants, although there has recently been a debate to use a more macro,approach. The source by source approach,is less practical in the Indian case for want of comparable and reliable information required for applying the method. A more practical alternative is the macro approach, which is adopted in India, but better in...

This primer is meant to summarize the content of the recently published Volume on ‘Economy of the Self: Foundations of Economics in Shrimad Bhagvad Gita’. The content of each Chapter and the overall scope of the work are given in the different sections of this primer. The Book is divided into two parts. Part 1 contains two Chapters entitled ‘Economics in the Western Tradition: A Brief Assessment’ and ‘India’s Ancient Economic Thought: Sources and Key Features’. Part 2 contains seven Chapters. These are ‘Inner Universe: The Body Field’, ‘External Universe and Outward Orientation of Senses’, ‘Man’s Status: Astride on a Machine’, ‘Desires and Actions: Kama and Karma’, ‘From Self to Society: Aggregation and Emergence’, ‘Happiness: External vs. Divine Touch’, and ‘From Machine-astridence to Yoga-ascendance’. Details for accessing the Volume are given at the end of this primer.