India's Public Finance and Policy Challenges in the 2020s

K.R. Shanmugam is Professor at, and Director of Madras School of Economics, Chennai, India. He has seven books (with Springer (co-authored) two books one in 2019 and latest one in 2023) and numerous journal articles to his credit on topics of his research interest such as public finance, corporate finance, macroeconomic models, applied economics, economics of human resource and environmental economics.

• Introducing the Volume on India’s Contemporary Public Finance Themes.- Part I: Fiscal Policy and Macro-economy: Can We Become a Viksit Bharat Or Will Be Caught In The Middle Income Trap?.- Regime Switching Approach to Growth Cycles and Fiscal Policy.- Are Fiscal Transfers Pushing the FRBM Targets Beyond Centre’s Reach?.- Sustainability and Growth Implications of Subnational Fiscal Choices in India: A Case of Kerala.- Part II: Public Expenditure Policy.- Prioritization and Rationalization of Government Schemes: A Case Study.- Efficiency Decomposition of Public Expenditure – Evidence from Indian States.- Examining the Interplay of Prioritisation of Public Expenditure on Health and Education and Absorption Capacity of the States.- Part III: Tax Policy.- Estimating State Level Tax Effort in India: A Panel Data Model.- How did Transition to GST Regime Affect Inflation in India?.- Has GST Contributed to Price Convergence Among Indian States?.- Corporate Tax and Carbon Emissions in Indian Manufacturing Sector.- Part IV: Fiscal Transfers Policy.- Fiscal Transfers, Regional Development and Inequality.- Evolution of Inter-se Share of States in Tax Devolution: Who Lost, Who Gained, and Why?.- Designing Health Equalization Transfers to Indian States.- Unravelling Intergovernmental Transfer’s Dual Impact on Growth and Social Sector Development in the Context of North-East India.- Part V. Public Debt Policy.- Impact of Public Debt on Economic Growth in BRICS Economies.- Role of Macroeconomic Channels in the Debt - Growth Nexus: Evidence of Nonlinearity.- Measuring Horizontal Fiscal Imbalance Amongst Indian States: A Club Convergence Approach.- PART VI: Environment and Climate Finance Policy.- The Path to Net Zero: Challenges and Opportunities.- Financing Climate Change Adaptation: A Critical Review.- Tamil Nadu's Sustainable Triumph: Examining the economic and financial impacts of Single Use Plastics Ban and the promotion of eco-alternative products in Tamil Nadu.- Climate Finance for Adaptation and Sustainable Development in India.- Climate Change and Fiscal policy for the Green Economy in India.