The last word

With domestic supply shocks from adverse climate events piling onto fuel shocks, even as the headline inflation rate rises, perceived inflation will be even higher. (PTI)

Dissonance between reported and experience inflation: Inevitable?

4 min read . 02 Apr 2026

The Union budget announced acceptance of all recommendations of the 16th Finance Commission (FC) for the years 2026-31. (President of India - X)

Fiscal support for Indian states over the next five years: Is it enough?

4 min read . 05 Mar 2026

The budget introduces a number of well-targeted reforms. (Sansad TV )

Union budget: Look beyond the headlines for its real impact

4 min read . 01 Feb 2026

Improving air quality is not an ornamental add-on to the quality of life. It is critically necessary to chart a path towards the country’s growth ambitions.

India’s Viksit Bharat goal calls for better governance across the country

4 min read . 31 Dec 2025

Cash support to poor households is where the political needle universally points when it comes to combating affordability.

When affordability clashes with public goods, we all end up on the losing side

4 min read . 04 Dec 2025

The governor announced that concentration risk would henceforward be dealt with through macroprudential tools. (Bloomberg)

Indira Rajaraman: Why RBI’s new banking proposals could do with a few tweaks

4 min read . 06 Nov 2025

Consumer enthusiasm on launch on 22 September was noteworthy, but may not sustain GST revenues at the level reached in 2024-25. (PTI)

India’s GST reset is positive but may put government revenue under pressure

4 min read . 02 Oct 2025

Indian policy has to run with the US tariffs for now and work on palliative measures. (Bloomberg)

Use the fiscal need driving US tariffs to negotiate a deal with it

4 min read . 04 Sept 2025

While Sebi certainly deserves to be commended for its corrective actions in the Jane Street debacle, the question arises of why it should allow weekly index derivatives at all. (REUTERS)

Indira Rajaraman: Consider turfing out short-term equity derivatives

4 min read . 31 Jul 2025

Mark Carney could mark an important start in recognition by the G-7 leadership of the role they must play in the fight to contain the usage of and damage from fossil fuels. (Bloomberg)

Carney effect: The G-7’s new cast bodes well for the world’s future

4 min read . 03 Jul 2025

One type of health shock is totally preventable: the kind arising from traffic accidents, particularly from the failure to enforce helmets among two-wheeler riders. (HT_PRINT)

Indira Rajaraman: Reduce uncertainty at the base of India’s pyramid

4 min read . 05 Jun 2025

The promise for China is in the 50-65% range, probably in response to Chinese restrictions on the export of rare earth elements (essential in the manufacture of magnets and much else).

India could learn much from the complaints of its trade partners

4 min read . 01 May 2025

India was consistently on the United States Trade Representative (USTR) watch list. (AFP)

Indira Rajaraman: US Liberation Day tariffs target the WTO’s playing field

4 min read . 03 Apr 2025

Nation states across the globe are now squarely responsible for providing jobs and livelihoods for populations within their respective borders. (Alamy)

Trump’s policy reversals will have implications for jobs and livelihoods here

4 min read . 06 Mar 2025

Hopefully, we will reap the growth rewards of a sustained capex outlay above 3% of GDP. (PTI)

India’s budget does well to drive growth despite a fiscal pullback

4 min read . 01 Feb 2025

People think about inflation not in terms of rates, but as increments in price levels, but even there, may not always be able to quantify the increase experienced.

Indira Rajaraman: It pays to track popular perceptions of public policy

4 min read . 02 Jan 2025

Policy in any sphere can be effective only when it is continually explained to the public at large, and its impact on their lives outlined in a manner that makes them shape their votes towards desired outcomes. (PTI)

Air pollution hurts growth: Trying new ideas could make a difference

4 min read . 05 Dec 2024

The ostensible reason for this nightmarish return to the 1950s’ import regime is India’s push to replace imports with domestic production, without violating the terms of Information Technology Agreement (ITA)–1, under which India cannot levy tariffs on 250 electronic items. (AP)

Laptops and tomatoes: Changes that show how little has changed

4 min read . 31 Aug 2023

Delays in GST compensation paid to states highlight problems in India’s fiscal system, including a lack of timely audits, even as the cess that funds it seems headed unfortunately for permanency.

Six years of GST: Compensation cess still needs to be sorted out

4 min read . 04 Aug 2023

Among the freebies currently on offer in Madhya Pradesh is free electricity up to 100 units (kilowatt hours), 50% subsidy beyond that up to 200 units, and full rate levy thereafter

Define boundaries and state the fiscal costs of election freebies

4 min read . 06 Jul 2023