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Publications

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.

Paper January 27, 2026

Mapping Heat Inequality Across Neighbourhoods in Delhi

By Dr. Neelanjan Sircar, Priya Vedavalli, Ishana Deshpande & Naisha Khanna

This study captures how households in Delhi experience heat, combining high-resolution climate and remote-sensing data with a primary household survey to estimate impacts on health, productivity, and coping capacity based on appliance ownership.

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.

Blog January 9, 2026

Operational Challenges of Consent Managers under DPDPA

By Shubham Shinde

Consent Managers, as envisaged under the DPDP, may encounter multiple operational challenges as market entities. Market solutions for compliance with data protection regulations in other jurisdictions offer an alternative approach.

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 December 16, 2025

Opinion | Trade doesn’t always promote peace: What could go wrong was observed and outlined 80 years ago

By Dr. Niranjan Rajadhyaksha

Trade can entangle as much as it can integrate. A 1945 classic explains why asymmetric trade ties may undermine sovereignty in today’s turbulent global order.

Op-ed December 12, 2025

Inside the UPI decade: How a cash-first nation learned to pay differently

By Nikita Kwatra, Khushi Baldota & Anushri Pundit

UPI’s greatest unrealised potential lies not just in bringing the next 250 million users into the system, but in deepening what participation enables.

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