ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Pratap Ranjan JenaSubscribe to Pratap Ranjan Jena

Institutional Quality and Foreign Direct Investment in India

Foreign direct investments tend to gravitate to nations with good governance. The quality of governance is largely affected by institutional factors such as control of corruption, government effectiveness, political stability, regulatory quality, rule of law, voice and accountability. This study contributes to the existing literature on foreign direct investments by testing the impact of six parameters of institutional quality on investment inflows into India. 

Revenue efforts of panchayats: evidence from Four states

There is no standing national database on panchayat finances in India, which limits any meaningful analysis of the revenue effort of panchayats. Based on a field survey in the four states of Chhattisgarh, Madhya Pradesh, Rajasthan and Orissa, this paper studies the own revenue effort of rural local bodies within their statutorily defined revenue rights. The study finds that the assigned tax rights are not fully utilised by the panchayats and non-tax revenue is the dominant source of their own revenue. A comparison of own revenues of the panchayati raj institutions for 2005-06, based on the survey results with those reported by the Twelfth Finance Commission for 2002-03, shows a huge difference between the two sets in the case of per capita own tax in Madhya Pradesh and per capita own non-tax in Chhattisgarh.

Central Flows to Panchayats

Central flows to panchayati raj institutions consist of assistance through centrally sponsored schemes, and transfers based on recommendation of Central Finance Commissions. The CSS are of two types, one routed through state government budgets, and the other bypassing state budgets. The paper quantifies these and identifies the components of the second going to panchayati raj institutions. For Madhya Pradesh and other major states, the paper provides per capita estimates of CSS releases to the PRIs for 2004-05 and 2005-06.

Economic Consequences of Gujarat Earthquake

Even though the impact of the earthquake on the Gujarat's GSDP may not exceed a quarter per cent, it presents many challenges. Putting in place a proper policy framework may not only restore normalcy in the region, but can start a recovery boom. Estimating the loss from the earthquake is important for devising policies and drawing up requirements for assistance both from within and outside India. However, given all the limitations of the data, firm estimates of losses from the recent quake will take time to compile. In the interim, quantification is critical for designing relief and rehabilitation packages and implementing them before the onset of the monsoon. This paper is an attempt to estimate the economic impact of the earthquake.

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