Dr M Govinda Rao

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The number game: Making sense of GDP estimates

This article was first published in Financial Express The second advance estimates of GDP for the current year, along with the third quarter estimates, released by the Ministry of Statistics and Programme Implementation (Mospi) do not come as a surprise....

The economic agenda for 2019

The focus has to be on reforming PSU Banks and managing the fiscal situation both at centre and states. The fiscal situation in the country continues to be under severe strain, and with the impending general election, there is a...

Macroeconomic Environment in India: The Role of Fiscal and Monetary Policies

By Dr. M Govinda Rao Download the essay in PDF [379 KB] India’s growth story remains highly attractive at a time of fragile global economic recovery, uneven growth, and tremendous uncertainty around the global financial and commodity markets. However, taking...

Demonetisation: Is the Pain Commensurate with the Gain?

By Dr. M Govinda Rao Download the essay in PDF [121 KB] The ruling party has hailed the Prime Minister’s announcement of ₹500 and ₹1000 notes becoming invalid as a historic and unprecedented attack on the black economy. Conversely, the...

A New Institutional Mechanism for Fiscal Management in India

By Dr. M Govinda Rao Download the essay in PDF [442 KB] Given the political inclination to indulge in fiscal profligacy, it is important to ensure calibration of rule-based fiscal policy to provide space to conduct monetary policies. Although there...