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

Articles By Rathin Roy

Should States Target a 3% Fiscal Deficit?

India’s current fiscal rules target a 3% fiscal deficit for the central and state governments. Though states have largely adhered to their borrowing ceilings, subnational debt is proliferating. A significant reduction in subnational borrowing is required to stabilise the states’ debt around the desired level of 20% of gross domestic product. Symmetry should not be forced on central and state borrowing flows, given their widely divergent levels of debt stocks.

The Public Education System and What the Costs Imply

There are basic methodological and conceptual problems with recent research that ends up arguing that private school education is more effective than public education. Such findings have obvious policy implications but it is critical that research that informs policy is based on a correct reading of facts, keeping the larger vision of education in mind.