Since 2015, India has seen many changes on the fiscal front — including a significant increase in states' share of the union's taxes, a complete overhaul of the indirect tax system, the restructuring of schemes, rampant use of off-budget borrowing, and large fiscal adjustments necessitated by the COVID-19 crisis. These changes have far-reaching consequences for India's political economy, institutions, and economic policies.
Against this backdrop, Suyash Rai and Josh Felman discussed how the Union Budget 2021-22 and the recommendations of the 15th Finance Commission might shape India's public finances in the coming years.
- Presentation by Suyash Rai: 30 minutes
- Comments by Josh Felman: 15 minutes
- Q&A: 15 minutes
- Suyash Rai, Before Modi govt can hope to fix India’s economy, it should fix how it manages Budget, January 29, 2020, ThePrint
- Suyash Rai, Budget 2021: The Ghosts of the Past, Present and Future, January 30, 2021, TheWire.in
- Suyash Rai, Many good things in Budget 2021. But wait for Modi govt to show its will, capability, February 2, 2021, ThePrint