Industrial policy now has broad World Bank approval but the case for universal adoption remains unclear

Op-ed May 8, 2026

Industrial policy now has broad World Bank approval but the case for universal adoption remains unclear

The World Bank has endorsed the idea of industrial policy with some conditions, reversing its stance of the early 1990s. What its new paper doesn’t address, though, is what happens if every country goes for it.

Op-ed April 22, 2026

Opinion | India’s widening current account deficit amid global uncertainty: At what point do alarm bells ring?

By Dr. Niranjan Rajadhyaksha

India’s current account deficit may touch slightly above $84 billion this year, raising concerns amid global uncertainty. But does it signal trouble yet—or just a phase of manageable external imbalance?

Op-ed April 14, 2026

Demystifying interoperability in Digital Public Infrastructure

By Dr. Hemant Adarkar

Interoperability can be understood as the digital equivalent of people speaking a common language while retaining their unique accents

Op-ed April 7, 2026

Opinion | Why a crude oil crisis could play out differently for India’s economy this time

By Dr. Niranjan Rajadhyaksha

Why today’s oil shock may not hit India like the 1970s: stronger fundamentals offer resilience, but supply disruptions still pose tough policy trade-offs between controlling inflation and sustaining growth.

Op-ed March 11, 2026

Opinion | Hormuz is just one of many chokepoints that are pushing countries to rethink economic strategy

By Dr. Niranjan Rajadhyaksha

As geopolitical rivalry intensifies, countries are increasingly weaponizing global chokepoints—from shipping routes to technology and minerals—forcing others to rethink economic strategy and balance interdependence with security.

Op-ed February 11, 2026

Opinion | What monetary policy gains from a reset inflation gauge: It’ll better reflect consumption patterns

By Dr. Niranjan Rajadhyaksha

A new consumer price index will reshape how inflation is measured in India—an update with important consequences for interest rates and the broader economy.

Op-ed February 2, 2026

Opinion | Balancing capex and deficits in an era of coconuts, factories and high-speed trains

By Dr. Niranjan Rajadhyaksha

India’s Union Budget 2026 maintains fiscal discipline while signalling a strategic push towards domestic capacity, infrastructure, and long-term growth in an uncertain global context.

Op-ed January 27, 2026

Opinion | The Centre’s debt-control strategy will be tested by uncertain nominal growth and new demands

By Dr. Niranjan Rajadhyaksha

The finance minister will unveil her first budget under a new debt-control strategy just as spending priorities multiply and nominal growth turns uncertain. With limited fiscal room and looming global risks, hard choices will have to be made.

Op-ed January 13, 2026

Opinion | India’s real economic growth looks healthy but fiscal space will shrink unless its nominal pace picks up

By Dr. Niranjan Rajadhyaksha

India’s real growth remains robust, but weak nominal GDP growth could limit the government’s fiscal flexibility as it seeks to reduce public debt.

Op-ed December 16, 2025

Opinion | Better data governance can help states improve welfare delivery

By Sridhar Ganapathy

States can learn from each other’s experiences of operationalising various data exchange mechanisms in the past.

Op-ed