For internal circulation

National Institute of Public Finance and Policy

Newsletter Vol. 14, No. 2, JULY 2017

Director’s column
The 2017 Budget reiterated its commitment to fiscal consolidation, which was a matter
of great personal satisfaction in view of my involvement with the FRBM review committee. This
provided an early signal that many of our recommendations would be valuable to government
and considered seriously.

With important financial sector reforms such as the Bankruptcy Code now in place, the
GST having finally being enacted, and the Monetary Policy Committee of the Reserve Bank of
India functioning actively, fiscal responsibility legislation will complete the suite of policy and
institutional frameworks that will underpin the effectiveness and credibility of the future of
macroeconomic policy making in India. I am extremely pleased that NIPFP’s work on each of
these important areas continues to inform the evolution of this framework. Our publications
in journals have focussed on each of these areas in equal measure; we have also published on specific areas of focus within
this broader framework including drivers and impact of food inflation, state-level debt dynamics, dating business cycles, and
the macroeconomics of the Union Budget. We continue to work on important expenditure reform issues including the scope
for developing the medium-term expenditure framework, tax policy for accelerated development, regional imbalances in
infrastructure, and determinants of public spending on health and education. We also continue to publish extensively on law
and economics, gender and macroeconomics, and fiscal policy and human development.

We were delighted that Dr. Y.V. Reddy, former RBI Governor and Chairman Fourteenth Finance Commission, deliv-
ered the Raja Chelliah Memorial Lecture on the interface between the fiscal and monetary policies to a full house. Following
tradition, we organised a two-day conference on papers in public economics and policy prior to the lecture. The conference
provided evidence that there is much active, if unsung, research being undertaken in this area and I am happy that we were
able to publish several refereed papers from this conference in our working paper series. Jointly with the Indian Econometric
Society Trust, we concurrently hosted the second Professor A.L. Nagar Fellow award presentation ceremony.

Our international work continues to be highly active. Jointly with the UNESCAP we organised a symposium on
Universal Basic Income and old age income security. I presented a joint paper at the Think 20 segment of the German G20
presidency in my capacity as a co-chair of the Task Force on International Tax Cooperation. We were also pleased to host the
meeting of the chairs of this Task Force prior to this, to review the papers to be presented to the G20 and T20 Summits, and
to agree future collaborative research. I was also a member of the Task Force that prepared India’s voluntary national review
of the SDGs for the 2017 United Nations High Level Political Forum on Sustainable Development in New York.

We have also made three new appointments at the Associate Professor Level and I would like to congratulate Dr. H.
K. Amarnath and Dr. Mukesh Anand on their promotions, and to welcome Dr. Renuka Sane.

As we accelerate our efforts on state finances, following the successful completion of projects with the governments
of Assam, Haryana, Madhya Pradesh and Odisha, we are gearing up to work with the forthcoming Fifteenth Finance Com-
mission to provide analytical and research support for its important constitutional task of recommending the future road-
map of intergovernmental fiscal relations. NIPFP sees the state governments and the Centre as important partners and this
means that we have a great responsibility to provide intellectual and analytical support on intergovernmental fiscal issues.
Our past work on the subject sets a high benchmark, and I am confident that we will rise collectively to the occasion this time
as well.

Rathin Roy
 The project examined the downside fiscal risks of hydroelec-
PROJECTS COMPLETED tric power projects commissioned in Sikkim and financial
performance of power sector in the state. The study observed
that fiscal risks exposure would depend on the level of tar-
1. Effectiveness of Monetary Policy in Stabilising Food Infla- iff and efficiency in operation of three major hydro power
tion: Evidence from cross-country analysis. plants. In author’s view, even if the state government wants
Rudrani Bhattacharya and Richa Jain to undertake such investments, in the long run this would
call for major power sector restructuring in the state. In this
Sponsored by NIPFP (Faculty Research) context, unbundling of the power sector is the most viable
option.  Since State of Sikkim has great hydel potential, in-
In the backdrop of several episodes of high and volatile food vestment in this sector must take into consideration environ-
inflation in emerging economies, the study attempts to anal- mental sustainability, fiscal sustainability and, power sector
yse the effectiveness of monetary policy shock to stabilise efficiency and financial management. The fiscal interface be-
food inflation in a panel of developed and emerging econ- tween power sector and the government expenditure needs
omies.  While theoretical literature mainly focus on welfare to become more transparent to improve public sector expen-
- maximising monetary policy, there exists hardly any em- diture management efficiency.
pirical consensus on the effectiveness of monetary policy to
stabilise food inflation. This study contributes to this litera- 5. Medium Term Fiscal Plan under FRBM Act of Sikkim –
ture empirically and identified that an unexpected monetary 2017-18
tightening has a positive and significant effect on food infla- Pratap Ranjan Jena
tion in both advanced and emerging economies. 
Sponsored by Government of Sikkim
2. Gender and Macroeconomics in Asia -Pacific
Lekha Chakraborty The report presents the Medium Term Fiscal Plan (MTFP)
for the Government of Sikkim for the year 2017-18. The re-
Sponsored by UNESCAP (Faculty Research) port projects the fiscal variables for three years including the
budget year aligning with the stipulation of the FRBM Act.
The project analysed the work activities of macroeconomic
and financing for development division of UNESCAP, iden- 6. How do disclosures affect financial choices? The Case of
tified how to integrate ‘gender and macroeconomic policy’ in Life Insurance in India
their work activities, imparted training to UN officials in the Ajay Shah, Renuka Sane and Monika Halan
macro division and prepared a roadmap to achieve a sustain-
able outcome on gender and macro policies in the region. Sponsored by International Growth Centre, London School of
Economics and Political Science, UK
3. Sikkim State Finance: Implications of the recommenda-
tions of Fourteenth Finance Commission’s on Sikkim Finances To understand household motivation for the purchase of in-
Pinaki Chakraborty and Manish Gupta surance products and evaluate the effectiveness of different
disclosures formats for insurance products.
Sponsored by Government of Sikkim
The details of NIPFP Ongoing projects can be accessed at
The project examined in detail the implications of FFC’s http://www.nipfp.org.in/projects/current-projects/?page=1.
recommendations on the fiscal resources of the State Gov-
ernment of Sikkim. The study observed that restructuring
of grants post the implementation of FFC award, resulted in PUBLICATIONS (BOOK, MONOGRAPHS, CHAP-
reduced availability of aggregate transfers to the state of Sik- TERS IN BOOKS, AND EDITED VOLUMES)
kim and higher tax devolution recommended by the Com-
mission could not offset the loss.  1. Bhanumurthy, N.R., H.K. Amarnath, Manish Prasad,
Shiney Chakraborty, Richa Jain, 2017. Divergences in
4. Investing in Power Sector in Sikkim:  Issues, Challenges, Human Development Outcomes in Madhya Pradesh:
and Fiscal Risk The Role of Fiscal Policy and Governance, New Delhi:
Pinaki Chakraborty and Shatakshi Garg NIPFP.
2. Chakraborty, Lekha, Macroeconomic Poli-
Sponsored by Government of Sikkim cy for Mining Regime (forthcoming book, OUP).

Page 2 NIPFP Newsletter, July 2017, Vol. 14 No. 2

3. Chakraborty, Pinaki, 2017. Evaluating Taxation Systems geting and Finance, Early View, Version of Record online:
and Policies, [Review of the book Taxation, Principles 19 APR 2017, Public Financial Publications, Wiley On-
and Applications - A Compendium, by Parthasarathi line Library http://onlinelibrary.wiley.com/doi/ 10.1111/
Shome, (LexisNexis-2014), pp. 824], Economic and Po- pbaf.12161/full.
litical Weekly, 52(14) (April 8). 9. Khan, Mohd. Asif and Akhtar Hussain, 2017. OAI@
4. Pandey, Rita and M. K. Mehra, 2017. Choice and Design Managing Libraries in Neo-Information Environ-
of Policy Instruments towards Promoting Renewable ment, in (eds.) Riyazuddin et al., Proceedings of the
Energy Technologies: Conceptual Framework and From Print to Digital: Managing Libraries in Neo-Infor-
Guiding Principles in (eds.) Agarwal Manmohan, Jing mation Environment, FDDI, Weekly Newsletter, Vol. 617
Wang and John Whalley, The Economies of China and In- (March).
dia: Cooperation and Conflict, Vol. 3, The World Scientif- 10. Mundle, Sudipto, 2017, submitted a Note to Ministry of
ic Press, Canada. Finance Budget Subsidies in India and 14 Major States
5. -------------, 2017. Emerging Experience with Design 1987-88 and 2011-12, January 16.
and Implementation of Policy Instruments for Re- 11. Pandey, Radhika, Ila Patnaik and Ajay Shah, 2017. Dat-
newal Energy Technologies Development and Deploy- ing Business Cycles in India, Indian Growth and Devel-
ment across Countries in (eds.) Agarwal, Manmohan, opment Review, 10(1).
Jing Wang and John Whalley, The Economies of China 12. Patnaik, Ila, Joshua Felman and Ajay Shah, 2017. An
and India: Cooperation and Conflict, Vol. 1, The World exchange market pressure measure for cross-country
Scientific Press, Canada. analysis, Journal of International Money and Finance,
6. Rao, M. Govinda, Evolving Landscape of Indian Fiscal 73(Part A): 62–77 (May).
federalism and Institutional Challenges: Reinventing 13. Rao, Govinda M., 2017. Budget 2017-18: Business as
the Role of the Finance Commission, in (ed.) Pai Sud- Usual, Economic and Political Weekly, LII(9), (March 4).
ha, Constitutional and Democratic Institutions in India, 14. ----------------, 2017. Demonetization; Are the Pains
Orient Blackswan Private Limited (forthcoming). Commensurate with Gains? South Asian Journal of
Management Research, 9(1): 680-684.
15. Sane, Renuka and Monika Halan. Misled and Mis-sold:
JOURNAL ARTICLES Financial Misbehaviour in Retail Banks?, Journal of
Comparative Economics (forthcoming).

1. Bhanumurthy, N.R, and Sri Hari Nayudu, 2017. Union

Budget 2017-18: Broader Analysis, Yojana, 7-10. WORKING PAPERS/DISCUSSION PAPERS/POLICY
2. ------, with Manish Prasad, 2017. Macroeconom- BRIEFS
ics of Union Budget, The Chartered Accountant,
97-101(March). 1. Chakraborty, Lekha, (with Horst Hanusch and Swati
3. -----, Manish Prasad and Richa Jain. Public Expendi- Khurana) 2017. Fiscal Policy, Economic Growth and
ture, Governance and Human Development: A Case of Innovation, Working Paper No. 883, The Levy Econom-
Madhya Pradesh, Economic and Political Weekly, (forth- ics Institute, New York.
coming). 2. Chakraborty, Pinaki, 2017. Federalism, Fiscal Space
4. Bhattacharya, Rudrani and Abhijit Sen Gupta, 2017. and Public Investment Spending: Do Fiscal Rules Im-
What Role Did Rising Demand Play in Driving Food pose Hard Budget Constraints?, ADB Working Paper
Prices Up, South Asian Journal of Macroeconomics and No. 637 (January).
Public Finance, 6(1): 59-81. 3. Jena, Pratap Ranjan, 2017. Indian Variant of MTEF:
5. --------------, Drivers and Impact of Food Inflation in The Scope and Opportunities to Develop an Effective
India, Macroeconomics and Finance in Emerging Market Budget Planning Process, NIPFP WP 185.
Economies, (forthcoming). 4. Chhibber Ajay, Swati Gupta, 2017. Public Sector Under-
6. Chakraborty, Lekha, Manish Gupta and Pinaki takings – Bharat’s Other Ratnas, NIPFP WP 186.
Chakraborty, 2017. State Level Debt-Deficit Dynamics, 5. Mundle, Sudipto, 2017. Beyond Catch up Some Spec-
Economic and Political Weekly, 52(9), (March 4). ulations About the Next Twenty Five, NIPFP WP 187.
7. Chakraborty, Pinaki 2017. Emerging Issues in Union– 6. Mundle, Sudipto, 2017. Employment, Education and
State Fiscal Relations, Economic and Political Weekly, the State, NIPFP WP 188.
52(9), (March 4). 7. Patnaik Ila, Joshua Felman, Ajay Shah, 2017. An Ex-
8. Chakraborty, Pinaki and Bharatee Bhusana Dash, 2017. change Market Pressure Measure for Cross-Country
Fiscal Reforms, Fiscal Rule, and Development Spend- Analysis, NIPFP WP 189.
ing: How Indian States Have Performed? Public Bud- 8. Rao, M. Govinda, Sudhanshu Kumar, 2017. Envisioning

NIPFP Newsletter, July 2017, Vol. 14 No. 2 Page 3

 Tax Policy for Accelerated Development in India, NIP- 2. Two-day conference on Papers in Public Economics
FP WP 190. and Policy (PPEP) at NIPFP, New Delhi, March 23-24,
9. Rao, M. Govinda, 2017. Budget 2017-18: Business as 2017. Programme Coordinator: N.R. Bhanumurthy.
Usual, NIPFP WP 191. 3. The Sixth Dr. Raja Chelliah Lecture, on Fiscal-Monetary
10. Datta, Pratik, Shefali Malhotra and Shivangi Tyagi, 2017. Policy: Interface by Dr. Y. V. Reddy, Former Governor,
Judicial Review and Money Bills, NIPFP WP 192. Reserve Bank of India and Former, Chairman, 14th
11. Chakravartti, Parma, Sudipto Mundle 2017. Growth Finance Commission at India Habitat Centre, Lodhi
Forecast for 2016-17 and the Outlook Beyond, NIPFP Road, New Delhi, March 24, 2017. Programme Coordi-
WP 193. nator: N.R. Bhanumurthy. (pic below).
12. Parsheera, Smriti, Ajay Shah and Avirup Bose, 2017.
Competition Issues in India’s Online Economy, NIP-
FP WP 194.
13. Regy, Prasanth V., Shubho Roy, 2017. Understanding
Judicial Delays in Debt Tribunals, NIPFP WP 195.
14. Mukherjee, Sacchidananda, 2017. Changing Tax Ca-
pacity and Tax Effort of Indian States in the Era of
High Economic Growth, 2001-2014, NIPFP WP 196.
15. Mohanty, Biswajit, N.R. Bhanumurthy and Ananya
Ghosh Dastidar, 2017. What explains Regional Imbal-
ances in Infrastructure? Evidence from India States,
NIPFP WP 197.
16. Sane, Renuka, 2017. Stock Market Participation in the 4. One-week training programme for Officer Trainees of
Aftermath of an Accounting Scandal, NIPFP WP 198. Audit and Accounts Service (IA&AS), NIPFP, New Del-
17. Choudhury, Mita, Jay Dev Dubey, 2017. Estimating hi, January 23 – February 3, 2017. Programme Coordina-
Public Spending on Health by Level of Care for Na- tor: Shruti Tripathi.
tional Health Accounts: An Illustration of Use of Data 5. A new one-week training programme, initiated in co-or-
on Withdrawals by Drawing and Disbursing Officers dination with INGAF, Ministry of Finance, Government
in India, NIPFP WP 199. of India on Emerging Issues and Challenges in Public
18. Bose, Sukanya, Priyanta Ghosh and Arvind Sardana, Finance and Policy for ICAS Probationers, at NIPFP,
2017. Resource Requirements for Right to Education: New Delhi, March 6-10, 2017. Programme Coordinators:
Normative and the Real, NIPFP WP 201. Lekha Chakraborty (Course Director) and Manish Gup-
19. Mohanty, Ranjan K., Biresh K. Sahoo, 2017. Examining ta. (In pic: Participants with Dr. Rathin Roy, Director,
the Eco-Macroeconomic Performance Index of India: NIPFP and programme coordinators)).
A Data Envelopment Analysis Approach, NIPFP WP
202.

CONFERENCE/TRAINING PROGRAMMES/SYMPO-
SIUM/MEETINGS/WORKSHOPS/ SEMINARS

1. Award Presentation Ceremony of the 2nd Professor AL

Nagar Fellow jointly organised by The Indian Econo-
metric Society Trust and NIPFP, at NIPFP Auditorium,
New Delhi, March 23, 2017. Programme coordinator:
N.R. Bhanumurthy. (pic below).
6. One-day IDRC-NIPFP Technical Advisory Committee
Meeting chaired by Dr. Y.V. Reddy, Former RBI Gover-
nor and FFC Chairman at NIPFP Auditorium, May 12,
2017. Dr. Pinaki Chakraborty presented the research
outcomes and the trajectory of the project. Programme
coordinator: Pinaki Chakraborty and Manish Gupta.
7. One-week training programme on Monetary and Fiscal
Policy for the Indian Statistical Officers, at NIPFP, New
Delhi, June 5-9, 2017. Programme coordinator: Sukanya
Bose.

Page 4 NIPFP Newsletter, July 2017, Vol. 14 No. 2

8. One-week training programme on Public Finance for 7. -----------, panelist, Sub-regional Media launch of UN-
the Indian Economic Service probationers, at NIPFP, ESCAP’s Economic and Social Survey of Asia and the
New Delhi, June 12-16, 2017. Programme coordinator: Pacific 2017, New Delhi, May 8, 2017.
Rudrani Bhattacharya. 8. BHATTACHARYA, RUDRANI, discussant for a study,
9. NIPFP-UNESCAP one-day symposium on Old-Age In- Role of Financial Frictions for Monetary Policy Trans-
come Security and Universal Basic Income in South mission in India: A New Keynesian Analysis, at the
Asia, at Auditorium, NIPFP, New Delhi, February 27, Annual Research Conference, Department of Economic
2017. Programme Coordinator: Mukesh Anand. and Policy Research (DEPR), RBI, June 23, 2017.
10. Visit of Peer Review Committee constituted by the Cen- 9. BOSE, SUKANYA, presented a paper on Resource re-
tral Government for conducting a peer review of the per- quirement for Right to Education: Normative and the
formance of NIPFP, April 10, 2017 and April 27, 2017. Real, at the Papers in Public Economics and Policy an-
11. Meeting of Chairs, International Tax Cooperation Task nual conference, NIPFP, New Delhi, March 23-24, 2017.
Force, Think 20 (T20), a network of research institutes 10. -------, discussant for A Review of the FRBM Act, by
and think tanks from the G20 countries, is jointly or- Charan Singh, Devi Prasad and K.K. Sharma, at the Pa-
ganised by the NIPFP, the Managing Global Governance pers in Public Economics and Policy annual conference,
(MGG) programme of the German Development Insti- NIPFP, New Delhi, March 23-24, 2017.
tute and the Federal Ministry of Economic Cooperation 11. CHAKRABORTY, LEKHA, invited by the United Na-
and Development at NIPFP, New Delhi, April 28-29, tions Economic and Social Commission for Asia and the
2017. Programme Coordinator: Director’s Office and Re- Pacific (UNESCAP), to conduct training on Gender and
search Wing. Macroeconomics, in Bangkok, on January 18, 2017.
12. One-day Seminar on Major Tax Reforms of central, 12. -----------, attended meeting in High Commission of
state and local bodies, at NIPFP Auditorium, May 25, Canada on Union Budget, February 2, 2017.
2017. Programme Coordinator: Kavita Rao. 13. --------------, invited by IMF, to attend Conference on
13. Half-day   presentation of India Development Update: Gender and Macroeconomics, held in the IMF, head-
May 2017: Unlocking Women’s Potential by the World quarters, Washington D.C., on March 23–24, 2017.
Bank at NIPFP, June 27, 2017. Programme Coordinator: 14. DASH, BHARATEE BHUSANA, presented a paper on
N.R. Bhanumurthy. Expenditure Visibility and Voter Memory: A Com-
positional Approach to the Political Budget Cycle in
PRESENTATIONS BY NIPFP FACULTY AT NATIONAL/ Indian States, 1959-2012, at the Papers in Public Eco-
INTERNATIONAL CONFERENCES/WORKSHOPS nomics and Policy annual conference, NIPFP, New Del-
hi, March 23-24, 2017.
1. BHANUMURTHY, N.R., panelist in a Pre-Budget Dis- 15. HAZARIKA, BHABESH (with Goswami Kishor,
cussion, organised by Institute of Management Technol- Handique, Kalpana), presented paper on Entrepreneur-
ogy, Ghaziabad, January 13, 2017. ial Settings for the Development of Handloom Mi-
2. -----------, chaired a Technical Session in the 3rd Na- cro-entrepreneurs in North East India, Twelfth Bienni-
tional Convention on Twenty-Five Years of Economic al Conference on Entrepreneurship of EDII, Ahmedabad
Reforms: Has India Taken-Off, organized by Sri Guru (India), February 22-24, 2017.
Gobind Singh College of Commerce, University of Delhi, 16. -----------, presented paper on Does the Influence of
at India Habitat Centre, New Delhi, February 22, 2017. Risk Attitude on Entrepreneurial Performance Varies
3. ------------, invited as a panelist for a discussion on across Location among the Handloom Micro-Entre-
Post-Budget Analysis – Focus on Macro, Financial and preneurs in North East India?, Annual Conference of
Energy Sectors at the High Commission of Canada Club the Canadian Council for SMEs and Entrepreneurship,
on Thursday, February 23, 2017. Québec City, Canada, May 11-13, 2017.
4. ---------, chaired a Technical Session during the Third 17. JENA, PRATAP RANJAN, presented a paper on Role
International Conference on South Asian Economic De- of Supporting PFM Institutional Arrangements for
velopment Faculty of Economics, South Asian Universi- Fiscal Rules: A Perspective from India, The Confer-
ty, New Delhi, February 23-24, 2017. ence on “The Macroeconomic Benefits of Strong PFM
5. --------------, presented a paper on Regime Shifts in Practices”, International Consortium of Government Fi-
Monetary Policy Reaction Function in India, in a two- nancial Management, Miami, USA, May 14 - 19, 2017.
day conference “Globalising the Finance?”, Pondicherry 18. KHAN, MOHD. ASIF, attended an International Con-
University, Pondicherry, April 11, 2017 ference on Knowledge Generation, Discoveryand Net-
6. -----------, panelist in a discussion on Financial Inclu- working (KGDAN-2017), Aligarh Muslim University,
sion during a national conference organized by Jaipuria Aligarh, February 15-16, 2017.
School of Business, April 15, 2017. 19. --------, attended a Silver Jubilee lecture on Role of Li-

NIPFP Newsletter, July 2017, Vol. 14 No. 2 Page 5

 braries in the Digital India at Developing Library Net- 32. PATNAIK, ILA, gave a talk on Demonetization and its
work (DELNET), JNU Campus, June 30, 2017. impact on the economy and the common man during
20. MOHANTY, RANJAN KUMAR, Examining the the Indian Express event, Mumbai, January 19, 2017.
Eco-Macroeconomic Performance Index of India: A 33. ------------, participated in panel discussion on India’s
Data Envelopment Analysis Approach, presented at Bonfire of the Bank Notes, BBC Radio, January 27,
the Papers in Public Economics and Policy, NIPFP, New 2017.
Delhi, March 23-24, 2017. 34. -----------, participated and gave a talk on Foundation
21. MUNDLE, SUDIPTO, High-level panel discussion on of public economics: Market failures vs state capaci-
Universal Basic Income Security in India: Relevance ty in training seminar for officials of TRAI organised by
Affordability and Implementation Challenges, at a NIPFP, New Delhi, February 2-3, 2017.
NIPFP-UNESCAP symposium on Income Security for 35. ---------------, participated and presented on Valuation
Older Persons in South Asia, NIPFP, New Delhi, Febru- and FDI in the session on Banking and Finance in the
ary 27, 2017. First Annual National Economic Conclave organised by
22. -----------, discussant on Employment and Wages in In- India Policy Foundation, New Delhi, February 17-18,
dia: Data and Measurement Issues at a half-day work- 2017.
shop organized by Ministry of Finance, Govt. of India, 36. ---------------, gave presentation to the graduate students
March 7, 2017. at CCS Academy’s first annual Alumni Retreat organised
23. -----------, presentation on Macro-Economic Trends in CCS Academy, New Delhi, February 19, 2017.
India and Japan at 7th ICRIER-PRI Workshop on Ad- 37. --------------, participated and chaired the technical
vancing India-Japan Economic Engagement, India Hab- session on Selected Topics in Macroeconomics in The
itat Centre, New Delhi, March 8, 2017. Third International Conference on South Asian Eco-
24. -----------, presentation on Budget Subsidies of the nomic Development organised by South Asian Univer-
Central Government and 14 Major States at the An- sity, New Delhi, February 23-24, 2017.
nual Conference on Public Economics and Policy, orga- 38. -------------, delivered a talk on The Bad Bank: Can it
nized by NIPFP, New Delhi, March 23-24, 2017. set India free in the 7th Annual CFO100 Conference
25. ----------, presentation on GDP Growth Forecast for and Felicitation Ceremony organised by CFO India,
2016-17 using Automatic Leading Indicator Approach Mumbai March 17, 2017.
at the Annual Conference on Public Economics and Pol- 39. -------------, participated and presented on Institutional
icy, organised by NIPFP, New Delhi, March 23-24, 2017. Reforms of Indian Tribunals in the session on Building
26. ------------, Chaired the Closing Plenary Session at Capacity in the Criminal Justice System in IDFC Insti-
US-India Business Council’s Symposium on Accelerat- tute Political Economy Dialogues organised by IDFC In-
ing Digital Payments and Deepening Financial Inclu- stitute, Goa, April 21-23, 2017.
sion, Taj Mahal Hotel, New Delhi, March 29, 2017. 40. ----------------, participated as special invitee at a round-
27. --------------, panellist at National Conference on Basic table on India Reboot: Finding True Value of Indian
Income in India, IIC, New Delhi, March 30, 2017. Rupee organised by Centre for Economic Policy Re-
28. --------------, participated in the Annual General Meet- search (CEPR) and Swadeshi Jagran Manch (SJM), New
ing of the Association of Former Employees of Asian De- Delhi, April 26, 2017.
velopment Bank, Yokohama, Japan, May 4, 2017. 41. ---------------, participated as speaker in the session ti-
29. -------------, chaired the Second Meeting of the Commit- tled Economic Transformation? Demonetization, GST
tee on Real Sector Statistics, National Statistical Com- and Modi’s Reform Scorecard in the India Trilateral Fo-
mission, Govt. of India, at NIPFP, New Delhi, May 22, rum organised by Observer Research Foundation, New
2017. Delhi, April 27, 2017.
30. PANDEY, RITA, invited as resource person presented a 42. -----------------, participated and briefed on the Asian
paper on Recent Developments in Water Governance Ministerial Conference on Disaster Risk Reduction
in India in a symposium on Multidimensional Policy in New Delhi and proposed the concept for building
Perspectives for the Energy-Food-Water Security Chal- knowledge platform on resilience in infrastructure and
lenges, Department of Economics, Punjab University, also presented on Trends in Infrastructure Investment
Chandigarh, February 27-28, 2017. and its Financing in India in the programme organised
31. -----------, presented a (co-authored) paper on Compen- by The World Bank, Washington DC, USA, May 8-10,
sating for Cost Disabilities Associated with Provision 2017.
of Public Services: Application to Highly Forested Hill 43. -----------, participated as panelist in a discussion on
States in India, at 23rd Annual Conference of European Financing arrangements for DRR (banks, insurance
Association of Environmental and Resource Economist, and micro-financing institutions)” in Technical Ses-
Athens, Greece, June 28 – July 1, 2017. sion: Investing in Disaster Risk Reduction for Resilience

Page 6 NIPFP Newsletter, July 2017, Vol. 14 No. 2

 at the Second Meeting of National Platform for Disaster and Reporting of Crime, (SATARC) Survey, Political
Risk Reduction on the theme - “Disaster Risk Reduction Economy Dialogues, IDFC Institute, Goa , April 23,
for Sustainable Development: Making India Resilient by 2017.
2030”, organised by National Institute of Disaster Man- 57. ---------, panellist Financial Inclusion and Beyond: Un-
agement, New Delhi, May 15-16, 2017. derstanding Indian Household Finance, NCAER – In-
44. --------------, participated as special invitee at a round- dia Policy Forum, July 11, 2017.
table on India Reboot: New Age FRBM Reforms and 58. SHAH, AJAY, delivered a talk on Payment Reform
its Impact on Indian Economy organised by Centre for Scenarios in  #FINNEXT2025 workshop organised by
Economic Policy Research (CEPR) and Swadeshi Jagran CGAP (the Consultative Group to Assist the Poor), Ban-
Manch (SJM), New Delhi, June 9, 2017. galore, January 19, 2017.
45. RAO, M. GOVINDA, paper presented on Effect of 59. ----------, delivered a talk to the members of Chamber at
Transfers on Public Service Delivery in India, in the a special session on Indian Financial Reforms: Where
Conference on Decentralization and Inclusive Growth, we are and where we go Next organised by Bharat
OECD, Paris, May 19, 2017. Chamber of Commerce, Kolkata, January 21, 2017.
46. ROY, RATHIN, participated as Panelist in Private Cap- 60. -----------, delivered talks on Indian Financial Reforms:
ital Climate Action and Will Energy Trump Climate A Status Report and Lawyers in Policymaking at NUJS
in Raisina Dialouge organized by Observer Research Credit Course organised by West Bengal National Uni-
Foundation (ORF), Taj Palace Hotel, New Delhi, January versity of Juridical Sciences (NUJS) in collaboration with
17-18, 2017. Society of International Law and Policy (SILP), Kolkata,
47. ----------, invited as panelist on What do the Numbers January 21-25. 
Tell?, Discussion on Union Budget 2017-18, organized 61. ---------, delivered a talk on Indian Financial Code in
by the CBGA, India Islamic Culture Centre, New Delhi, workshop on Budget and Public Finance for the LAMP
February 2, 2017. Fellows organised by PRS Legislative Research, New
48. ----------, invited as panelist in the session on The Union Delhi, January 25, 2017.
Budget 2017-18 organized by Pune International Centre 62. ---------, delivered a talk on Improving the working of
(PIC), Pune at the Gokhale Institute of Politics and Eco- regulators, “Data management for the regulatory pro-
nomics (GIPE), Pune, February 5, 2017. cess” and also delivered a “Summing up” of the training
49. -------------, invited as special invitee at a Roundtable on seminar for officials of Telecom Regulatory Authority of
India Reboot and the Path Ahead organised by Cen- India (TRAI) organised by NIPFP, New Delhi, February
tre for Economic Policy Research, CEPR and Swadeshi 2-3, 2017.
Jagran Manch at IIC, New Delhi, February 6, 2017. 63. -----------, delivered Opening Remarks at the brain-
50. ----------, invited as speaker in the book launch, Do We storming session on Net Neutrality organised by NIPFP,
Care? India’s Health System by K. Sujatha Rao, orga- New Delhi, February 8, 2017.
nized by Oxford University Press and Observer Research 64. -------------, participated as panelist in the panel on
Foundation at IHC, New Delhi, February 9, 2017. State, Private Sector and Liberty in a Digital World –
51. -----------, invited as panelist in the round table dis- Challenges for Liberals in Asia Liberty Forum organ-
cussion on Union Budget 2017-18 organized by the ised by Centre for Civil Society, Mumbai, February 10,
Vivekananda International Foundation (VIF) at New 2017.
Delhi, February 14, 2017. 65. ----------, delivered opening remarks at round table on
52. -----------, invited to participated in a conference or- Privacy and Data Protection organised by NIPFP, New
ganised by the International Centre Goa, in Goa, 10-12 Delhi, March 24, 2017.
March 2017. 66. -------------, delivered valedictory remarks at the work-
53. -----------, participated as a Panelist in an interactive shop on The Insolvency and Bankruptcy Code, 2016
session on the German G20 Presidency at the German organised by Gujarat National Law University, Gandhi-
Embassy, New Delhi, March 31, 2017. nagar, March 25, 2017.
54. -----------, participated in round table discussion with 67. --------------, delivered a talk on The big questions
the Governor, Bank of England, Mr. Mark Carney at about India at Global Investment Workshop organised
British High Commission, New Delhi, April 4, 2017. by Cambridge Associates, Mumbai, April 3, 2017.
55. SANE, RENUKA, moderator, panel discussion, Exam- 68. -------------, participated in roundtable discussions
ining the key drivers changing the face of the Indian through video conferencing in Global Emerging Mar-
pension industry, also speaker, “Designing the pay-out kets conference 2017 organised by TD Securities,
phase of the National Pension System”, Pension Fund In- Frankfurt, Germany, May 4, 2017.
vestment Summit, Mumbai, April 18, 2017. 69. -----------, delivered opening remarks in roundtable on
56. --------------, presented Results of the Safety Trends Predatory Pricing in the Telecom Sector organised by

NIPFP Newsletter, July 2017, Vol. 14 No. 2 Page 7

 NIPFP on May 23, 2017 at New Delhi. nai, May 3, 2017.
70. ------------, gave a talk on Measuring India’s progress 13. CHAKRABORTY LEKHA, invited by Tata Institute
on the bankruptcy Reform organised by Insolvency and of Social Sciences, Gachibawli, Hyderabad to deliver a
Bankruptcy Board of India, New Delhi, June 6, 2017. lecture on Gender Budgeting at one-day workshop on
71. ------------, participated as panelist in Session I on Pol- Understanding Budget, January 7, 2016.
icy: An architecture that works and Moderator in 14. ---------------, Gender Budgeting, delivered lecture in
Session III on Capital: Bridging the SME Financing an international training programme on Public Finance
Gap in 9th Banking and Financial Services Conference Management at INGAF, Ministry of Finance, New Del-
on Catalyzing MSME Entrepreneurship in India or- hi, January 12, 2017.
ganised by IMC Chamber of Commerce and Industry, 15. ---------------, delivered lecture on Emerging Initiatives
Mumbai, June 22, 2017. in Gender Budgeting: Global Experience, in an inter-
national training programme on Government Account-
ing and Financial Management, INGAF, Ministry of Fi-
GUEST LECTURES BY NIPFP FACULTY nance, New Delhi, February 8, 2017.
16. --------------, Fiscal Policy for Women Economic Em-
powerment and Labour Force Participation, lecture
1. BHANUMURTHY, N.R., invited by IIM-Lucknow for a delivered for a national training programme for Uni-
panel discussion on Union Budget Expectations, Janu- versity Professors, at V.V. Giri Labour Institute, NOIDA,
ary 12, 2017. February 27, 2017.
2. ---------, invited by the Rajasthan Economic Association 17. -------, Macroeconomics of Public Deficit, delivered to
to give the Inaugural address for their annual confer- the students at St. Theresa’s, Kochi, June 1, 2017.
ence, held at Kota, January 27-28, 2017. 18. -----------, Fiscal policy for gender equality, lecture de-
3. ---------, invited speaker on Implications of Union livered to the student of Kochi College, June 2, 2017.
Budget, organised by SCOPE, February 2, 2017. 19. ----------, Macroeconomics of Public Deficit, lecture
4. ---------, invited talk on Sustainable Public Finance in delivered to students and faculty of Government Arts
Indian Context, National Defence College, February 3, College, Trivandrum, June 5, 2017.
2017. 20. ----------------, invited to deliver lecture on Gender
5. ----------, delivered a lecture at INGAF, 3-week training Budgeting at IMF South Asia Regional Training and
programme on Government Accounting and Financial Technical Assistance Center (SARTTAC), June 8, 2017.
Management, February 8, 2017. 21. ----------------, delivered lecture at Certificate Pro-
6. -----------, invited as a Keynote Speaker in their Interna- gramme on Public Finance and Budgeting for the CAG
tional Conference on Globalisation and Indian Econ- officers, DoPT Training programme, New Delhi, June
omy, Devi Ahilya University, Indore, February 17-18, 20, 2017.
2017. 22. CHAKRABORTY, PINAKI, invited to speak in a sem-
7. ---------, invited as UGC Visiting Professor by Punja- inar on Kerala State Finances, IIM, Kozhikode, Kerala,
bi University, Patiala, for giving lectures, March 29-31, February 18, 2017.
2017.   23. -----------, invited as a panelist on the Indian Cash Cri-
8. -----------, invited as Chief Guest, for the 2nd National sis: Policy relevance in a cashless Economy at Indian
Conference on Finance, at Prestige Institute of Manage- Institute of Foreign Trade (IIFT), New Delhi, February
ment, Gwalior, April 8, 2017 20, 2017.
9. -----------, invited by Amrita School of Business, Coim- 24. -------, invited as a panelist for Book Release of Dr. Par-
batore, to give series of lectures on Time Series Econo- thasarathi Shome: Development and Taxation: 60 Criti-
metrics and Research Methodology in their Ph.D. pro- cal Commentaries, Assocham House, New Delhi, March
gramme, June 5-16, 2017. 17, 2017.
10. ----------, discussant for the World Bank’s India Devel- 25. -------------, address and keynote in the seminar on To-
opment Update: 2017, at NIPFP, June 27, 2017. wards a New Regime of Fiscal Federalism in India:
11. BHATTACHARYA, RUDRANI, delivered lectures on Implications of the Fourteenth Finance Commission,
Dynamic Stochastic General Equilibrium (DSGE) Mod- OKD Institute of Social Change and Development, Gu-
els and Forecasting and Policy Analysis System (FPAS) wahati, March 28-29, 2017.
Models in a Pilot Programme on Advance Macroeco- 26. --------------, delivered a public lecture on GST, Gokhale
nomic Modelling, at RBI Staff College, Chennai, March Institute of Politics and Economics, Pune, April 7, 2017.
15-16, 2017. 27. --------------, delivered lectures to the M.A. Economics
12. ----------, delivered lecture on Rules, Discretion and students at the Gokhale Institute of Politics and Eco-
Optimal Monetary Policy at RBI Staff College, Chen- nomics on Issues in Indian Public Finance, Pune, April

Page 8 NIPFP Newsletter, July 2017, Vol. 14 No. 2

 7-8, 2017. Post Graduate Programme (PGP) in Management, Tak-
28. JENA, PRATAP RANJAN, delivered a lecture on PEFA: shashila Institution, Bangalore. May 7, 2017.
Measuring the Quality of PFM Systems, ITEC Training 45. ------------, Enforcing Fiscal Rules: Need for an Inde-
Programme on Government Accounting and Financial pendent Monitoring Institution, Webinar in the Course
Management, INGAG, New Delhi, January 13, 2017. in Public Finance, PGP in Management, May 14, 2017.
29. -----------, delivered a lecture on Performance Budget 46. -----------, Tyranny of Status Quo: Challenges of Re-
and Performance Management: Issues and Options, forming the Indian Tax System, Webinar in the Course
Madhusudan Das Regional Academy of Financial Man- in Public Finance, PGP in Management, May 21, 2017.
agement, Bhubaneswar, 24 January, 2017 47. ----------, Fiscal Federalism in India: Theory and Prac-
30. --------------, delivered a lecture on PFM Performance tice, Webinar in the Course in Public Finance, PGP in
Measurement Framework, Certificate Programme on Management, June 10, 2017.
Public Finance and Budgeting for the Officers of the of- 48. ----------, Fiscal Management and Enforcing Fiscal
fice of the Comptroller and Auditor General of India, Rules, lecture to the participants of Senior IES Training
Jindal University, Haryana, 22 June, 2017. Programme, Indian Institute of Management, June 19,
31. ------------, delivered lecture on Public Expenditure 2017.
and Financial Accountability: PFM Performance Mea- 49. ROY, RATHIN, invited to deliver a lecture at the Green-
surement Framework, training programme for Ernst & Invest meeting, held in Singapore, January 9-10, 2017.
Young, New Delhi, 27 June, 2017 50. -----------, invited to deliver the keynote address on
32. MUNDLE, SUDIPTO, delivered the Annual Budget How will Budget 2017 Impact the Economy in the Af-
Lecture at Malayala Manorama, Kochi, February 2017. termath of Demonetisation, jointly organised by the
33. PATNAIK, ILA, delivered a talk on Role of Regulators Bombay Chamber of Commerce and Industry and the
in Indian Economy in the 57th NDC Course on National Economic Political Weekly, Bombay, January 12, 2017.
Strategic Studies organised by National Defence College, 51. -----------, invited to participate in the conference on
New Delhi, March 8, 2017. Digital Revolutions in Fiscal Policy, jointly organised
34. --------------, delivered lectures on State Intervention by the International Monetary Fund and the Bill & Me-
and Indian Macro-Finance Reform at Phase IV of linda Gates in IMF Headquarters, Washington D.C.,
Mid-career Training Programme 2017 for IAS Officers USA , January 26-27, 2017. 
organised by Lal Bahadur Shastri National Academy of 52. -----------, invited as Keynote Speaker in Annual DbAc-
Administration, Mussoorie, June 19-20, 2017. cess India Macro-Day investor Conference, organized
35. RAO, M. GOVINDA, special address on Union Bud- by Deutsche Bank Group at Shangri-La Hotel, February
get, Madras Chamber of Commerce and Industry, Feb- 6, 2017.
ruary 3, 2017. 53. ----------, invited to deliver a lecture on Importance of
36. -----------, panellist in the discussion on the Union Bud- G20 and Issues in Global Financial Architecture in
get, Bangalore International Centre, February 4, 2017. annual capacity building programme on “International
37. -------------, panel discussion on Budget, ICFAI Univer- Economic Issues and Development Policy (IEIDP)”, or-
sity, Hyderabad, February 6, 2017. ganized by RIS, New Delhi, under the IETC / SCAAP
38. -----------, address on The Union Budget, Sri Krish- Programme of the Ministry of External Affairs, Govern-
nadevaraya University, Bellary, February 7, 2017. ment of India at RIS, New Delhi, February 15, 2017.
39. -----------, Madras School of Economics– Sage Endow- 54. ------------, invited to  participate in the International
ment Lecture, Tyranny of Status Quo: Challenges of conference on Transforming India 2030: Strategies for
Reforming the Indian Tax System, February 9, 2017. Sustainable Development Goals, jointly organised by
40. ------------, delivered lecture on Black Economy in In- the  Symbiosis International University, UN Information
dia, TRYST – IIT Delhi. February 26, 2017. Centre, NITI Aayog and RIS in Pune, February 17, 2017. 
41. -----------, lecture delivered on Role of Monetary and 55. ----------, invited as a speaker in an Economic Summit
Fiscal policies for Growth and Stability at the Tak- on a theme Demonetisation organized by the Depart-
shashila Institution, Bangalore. ment of Economics PGDAV College at PGDAV, Delhi,
42. ----------, panel discussion on Combating Black Econ- March 6, 2017.
omy Through Demonetisation, IIT Tryst, March 26, 56. ------------, invited to deliver brown bag talk organized
2017. by Global Health Strategies at GHS, Shaheed Bhawan,
43. ----------, talks on State of the Indian Economy and New Delhi, March 8, 2017.
GST – The Way Forward, Mangalore University, April 57. ------------, delivered a special lecture on Some Reflec-
24 - 25, 2017. tions on Inclusive Growth and Fiscal Policy in Con-
44. ----------, lecture on Public Finance: Development, Eq- temporary India on the occasion of ADRI Silver Jubilee
uity and Political Economy, Course in Public Finance, Celebrations 2016-17 in an International Conference on

NIPFP Newsletter, July 2017, Vol. 14 No. 2 Page 9

 “Bihar And Jharkhand: Shared History to Shared Vision
(In Memory of Arvind Narayan Das)”, Patna, March 26, NIPFP STATE VISITS & HIGH LEVEL MEETINGS
2017.
58. -------------, invited to speak in Key Note session in Con-
sultation on Draft National Indicators on the SDGs and 1. Chakraborty, Pinaki, with IDRC Project Team includ-
the VNR process in India, organized by the civil society ing Lekha Chakraborty, Manish Gupta and Amandeep
organization in India led by PAIRVI, CECOEDECON Kaur: High level Meetings on Intergovernmental Fiscal
and Beyond Copenhagen at IIC Annexe, New Delhi, Transfers with the Chief Secretary, Finance Secretary
April 6, 2017. and other top State Officers at State Secretariat, Jaipur,
59. -----------, invited to deliver a lecture in the Department Rajasthan, April 19, 2017.
of Economics, University of Bombay, Bombay, April 7, 2. ------------, High level Meetings on Intergovernmental
2017. Fiscal Transfers with the Additional Chief Secretary,
60. -----------, invited to participate in the conference on Finance Secretary and other top State Officers, at De-
Digital Revolutions in Public Policy co-hosted by the partment of Finance and Planning Board, and at State
International Monetary Fund and the Bill & Melinda Secretariat, Bhopal, Madhya Pradesh, May 17-18, 2017.
Gates Foundation, being held in IMF Headquarter in 3. -----------------, High level Meetings on Intergovern-
Washington D.C., 22-23 April, 2017.  mental Fiscal Transfers with Additional Chief Secre-
61. ------------, invited to speak on a topic India Econom- tary(s) Finance and Planning, and other top Officers,
ic Outlook in the conference on 8th Annual dbAccess at State Secretariat, Shimla, Himachal Pradesh, June 27,
Asia Conference Opening Doors, Unlocking, co-hosted 2017.
by the Global Head of Economics and Head of Research, 4. Chakraborty, Pinaki, Pratap Ranjan Jena, Sacchidanan-
Asia Pacific and the Deutsche Bank in Singapore, May da Mukherjee, H. K. Amarnath, Manish Gupta, Meet-
15, 2017.  ings on State Finances with Additional Chief Secretary
62. ------------, invited as a keynote speaker at the ministeri- (Finance) and top officials of Department of Finance at
al panel discussion on Better Governance for Effective Administrative Staff College, Gawhati, Government of
Fiscal Management at the 73rd Session of Economic and Assam, July 6, 2017.
Social Commission for Asia and the Pacific (ESCAP),
hosted by UNESCAP at Bangkok, May 18-20 2017. APPOINTMENT ON COMMITTEES/AWARDS/HON-
63. -------------, invited to speak and participate in the OURS/REVIEWER ROLES
Think-20 Summit Global Solutions which is a high-level
meeting co-hosted by the Kiel Institute in cooperation • BHANUMURTHY, N.R., awarded “VKRV Rao Prize in
with the T20 co-chair German Development Institute Social Sciences (Economics)” for the year 2015 by ICSSR
(DIE), the European School of Management and Tech- and ISEC Bangalore, for significant contributions to So-
nology (ESMT) Berlin, in Berlin, May 29-30, 2017. cial Science Research in India.
64. -------------, invited to deliver a talk on – Demonetiza- • --------, Member, Governing Body, Centre for Excel-
tion: the Indian Experience, at Hindu College, Univer- lence, National Academy of Customs, Excise Narcotics,
sity of Delhi, June 6, 2017. New Delhi, from March 2017; Committee on Real Sector
65. SHAH, AJAY, delivered lectures on Public Choice The- Statistics, National Statistical Commission, from June
ory at Phase III of Mid-Career Training Programme for 2017; Board of Studies, IIS University, Jaipur, from June
IAS Officers organised by Lal Bahadur Shastri National 2017; Economics Affairs Committee, PHDCCI, Delhi,
Academy of Administration, Mussoorie, April 28, 2017. from January 2017; Faculty Selection Committee (As-
66. ------------ delivered lectures on Market Failure, and sociate/Assistant Professor), BIMTECH, February 2017;
Public Choice Theory and also participated as panelist Faculty Selection Committee University of Rajasthan,
in panel on Regulatory Reforms at Phase IV of Mid-Ca- Jaipur, January 2017; Board of Studies, PG Department
reer Training Programme 2017 for IAS Officers organ- of Economics, Pondicherry University, from March
ised by Lal Bahadur Shastri National Academy of Ad- 2017.
ministration, Mussoorie, June 19-20, 2017. • --------, Convener, Sub-Group on Government Statistics
67. TRIPATHI, SHRUTI, delivered three sessions: (i) Gov- – Local Bodies, National Statistical Commission, Febru-
ernment’s total liabilities and cash management; (ii) ary 2017.
Debt Sustainability and Implications of Contingent Li- • -----------, Secretary, The Indian Econometric Society.
abilities, and (iii) FRBM Act: Achievements and failures • -----------, Managing Trustee, The Indian Economic As-
of centre and the states at National Academy of Audit sociation Trust for Research and Development.
and Accounts, Shimla, April 12-13, 2017. • --------, Referee to Quarterly Review of Economics and
Finance; Global Business Review; Chaos, Solutions and

Page 10 NIPFP Newsletter, July 2017, Vol. 14 No. 2

 Fractals; North American Journal of Economics and Fi- • ---------, Member, Board of Governors, Centre for the
nance; UNDESA Working Paper Series; ISEC Working Studies of Developing Societies, New Delhi, April 2017.
Paper Series; Journal of Quantitative Economics, Micro- • Pandey, Rita, Reviewer, Springer and OUP Journals on
finance Review, South Asia Economic Journal, Indian Energy and the International Journal of Green Growth
Economic Review, Journal of Economic Studies. and Development.
• --------, Examiner for Ph.D theses from IIT-Madras, • RAO, M. GOVINDA, Board Member, Advisory Coun-
Guru Nanak Dev University, Jadavpur University, Pondi- cil of the Centre for Public Policy, IIM, Bangalore from
cherry University, and JNU. April 13, 2017.
• -----------, Consultant to UN-ESCWA, Beirut, Lebanon • ------------, Member, Academic Advisory Council,
for a study on Effectiveness of Fiscal Policy on Growth Ambedkar School of Economics, Bangalore, May 2017.
and Poverty. • ------------, Referee, Book manuscripts for Oxford Uni-
• -------, successfully guided a Ph.D. student, University of versity Press and Cambridge University Press.
Delhi, March 2017. • ---------, Refereed articles, Publius: Journal of Feder-
• BHATTACHARYA, RUDRANI, Reviewer, Eurasian alism, World Development; Economic and Political
Economic Review, Economic Modelling, Journal of In- Weekly; Journal of Social and Economic Development;
frastructure Development, Journal of Quantitative Eco- Journal of Quantitative Analysis; Journal of the Indian
nomics School of Political Economy.
• CHAKRABORTY, LEKHA, invited as Erudite Profes- • ROY, RATHIN, Member, Expert Group for UNES-
sor by the Higher Education Council in Kerala to deliver CAP: Economic and Social Survey of Asia and Pacific;
a series of lectures to students in the State (Kochi and Advisory Group to the Finance Minister on G-20 issues;
Trivandrum), June 1-7, 2017. National Training Council under the chairmanship of
• ------------, External Examiner, M.Phil Thesis, CESP, Minister, Ministry of Personnel, Public Grievances and
JNU, New Delhi. Pension, for giving overall direction for the implemen-
• ----------, Member, International Institute of Public Fi- tation of the policy. (September 3, 2013 – onwards);
nance, Germany. Board of Governors, Institute of Economic Growth,
• ---------, Reviewer, Applied Economics, Applied Finan- Delhi; Governing Body, National Centre for Good Gov-
cial Economics. ernance (NCGG), New Delhi; Reader Group, Global
• CHAKRABORTY, PINAKI, Chairman of Kerala Pub- Human Development Report, UNDP; Advisory Coun-
lic Expenditure Review Committee (KPEC), Govern- cil for the K.M. Mani Centre for Budget Studies, Cochin
ment of Kerala. University of Science and Technology; United Nations
• --------, Member of the working group by the State Plan- Environment Programme (UNEP) Inquiry into a Sus-
ning Board, Government of Kerala on Financial Re- tainable Financial System – India Advisory Committee;
sources and Resource Mobilisation for the formulation Meta Council on Inclusive Growth, World Economic
of the 13th Five Year Plan, Government of Kerala. Forum, Geneva; Task Force on Elimination of Poverty in
• -------------, Member of a committee to study the Impact India, National Institution for Transforming India (NITI
of Demonetisation on the State Economy. This commit- Aayog); Technical Advisory Group for the Biodiversi-
tee is constituted by State Planning Board, Government ty Finance Initiative in India, Ministry of Environment,
of Kerala. Forest and Climate Change, Government of India (8th
• -------------, Member-Secretary of the Fiscal Statistics, May 2015 – onwards); RIS Review Committee to carry
constituted by National Statistical Commission. out a comprehensive review of the Faculty Positions at
• ---------------, Member, Governing Body of the GIFT RIS and their pay scales; Lok Sabha Core Group Com-
(Gulati Institute of Finance and Taxation. mittee on the Speaker’s Knowledge/Research Initiative;
• DASH, BHARATEE BHUSANA, Reviewed papers for Research Advisory Council (RAC), RIS; Executive Body,
Journal of Development Studies, Economic Modelling Atal Bihari Vajpayee Institute of Good Governance
and Journal of Quantitative Economics. and Policy Analysis; Advisory Board of  Urbanisation,
• HAZARIKA, BHABESH, Reviewer, Financial Inno- IIHS Bangalore; Academic Council, Indian Institute of
vation (Springer); Journal of Small Business and Entre- Foreign Trade (IIFT), for a period of two years (up to
preneurship (Taylor & Francis); International Journal of 14.01.2018); BRICS Business Council Working Group
Development Issues (Emerald); International Council of on Financial Services (FSWG) from India; Committee
Small Business (ICSB 2017) World Conference, Argen- to comprehensively review and give recommendations
tina. on the FRBM roadmap for future – till October 2016;
• MUNDLE, SUDIPTO, Chairman, Committee on Real Task Force to prepare India’s Voluntary National Re-
Sector Statistics, National Statistical Commission, Govt. views (VNRs) at the 2017 High Level Political Forum
of India, April 2017. (HLPF) on Sustainable Development to be convened

NIPFP Newsletter, July 2017, Vol. 14 No. 2 Page 11

 from 10-19 July 2017; National Statistical Commission
(NSC) on ‘Fiscal Sector’; Governing Body, Centre of NEW PROJECTS INITIATED
Excellence, National Academy of Customs, Excise and
Narcotics (03.03.2017 to 02.03.2013); Research Adviso-
ry Committee, CPR, New Delhi for a period of one year 1. Meghalaya-NIPFP Project on IBDLP Programme, Gov-
w.e.f. 20.03.2017; National Steering Group (NSG) under ernment of Meghalaya (Rathin Roy, Ila Patnaik)
“Samavesh: a proposal initiated by NITI Aayog” – Mech- 2. Mid-term Evaluation of NER Vision 2020, Ministry of
anism for Networking and Partnerships with Knowledge DoNER, Govt. of India (Rathin Roy, Rita Pandey)
and Research Institutions; CII Economic Affairs Council 3. Panchayati Raj Institutions of Chhattisgarh, Chhattisgarh
2017-18 and Financial Sector Regulatory Appointment Finance Commission (Kavita Rao, Pinaki Chakraborty)
Search Committee (FSRASC), Ministry of Finance.
• -----------, Chairman, of the Evaluation Monitoring
Committee (EMC), Development Monitoring and Eval-
uation Office (DMEO), NITI Aayog, New Delhi. STAFF NEWS
• ----------, Fellow, Cambridge Commonwealth Society.
• SHAH, AJAY, Member, Advisory Committee of Guja-
rat National Law University, Gandhinagar, 2017; Work- 1. Mukesh Kumar Anand promoted as Associate Professor
ing Group on Information Utilities setup by Ministry of w.e.f. January 25, 2017.
Corporate Affairs, Government of India for implemen- 2. H.K. Amarnath promoted as Associate Professor w.e.f
tation of the Insolvency and Bankruptcy Code, 2016. January 30, 2017.
• ---------, Board of directors, Centre for Monitoring In- 3. Renuka Sane has joined the Institute as Associate Pro-
dian Economy Pvt. Ltd., 1993; Gujarat State Fertilisers fessor on a contractual basis initially for a period of two
and Chemicals Ltd., 2006; National Bulk Handling Cor- years, w.e.f. April 3, 2017.
poration Limited, 2014; Board of directors, National
E-Governance Service Limited, 2016; Britannia Indus-
tries Limited, 2017.

Published, designed & printed by Samreen Badr, on behalf of the National Institute of Public Finance and Policy,
18/2, Satsang Vihar Marg, Special Institutional Area, New Delhi - 110067 & produced by VAP Enterprises.
Tel.: 41755660 Email: [email protected] & published at 18/2, Satsang Vihar Marg, Special Institutional
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Page 12 NIPFP Newsletter, July 2017, Vol. 14 No. 2