{"title":"Financial Flows of the Blue Continent","authors":"Josiah Neal","doi":"10.55763/ippr.2024.05.02.003","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.02.003","url":null,"abstract":"\u0000This paper proposes a collaborative effort between India, Australia, Papua New Guinea, and Fiji to pilot a payments system using the infrastructure underlying India's Unified Payments Interface framework. This aims to catalyse the creation of an open, interoperable, and efficient regional payments system in the Pacific that enfranchises all stakeholders. While cost is a central factor, existing funds within the Pacific Financial Inclusion Programme, Forum for India-Pacific Islands Cooperation, Pacific Islands Forum, India-UN Development Partnership Fund, or Quadrilateral Security Dialogue can be leveraged. Frank dialogue about the financial needs of Pasifika peoples and their countries is critical, and open-source protocols can allow for tailor-made, sovereign solutions without vendor lock-in. Current efforts to strengthen regulatory frameworks and address money laundering risks should also continue in concert with this endeavour. More broadly, this paper demonstrates India's potential to collaborate with Australia – and others – to create positive outcomes for low-income states. The policy recommendation in this paper exemplifies how such collaborations can drive positive change globally and accelerate progress for the developing world, such as in the Pacific Islands. \u0000","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":"29 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140702350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Navigating Tensions and Stabilising Public Safety with Internet Shutdowns","authors":"Ivy Dhar","doi":"10.55763/ippr.2024.05.02.004","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.02.004","url":null,"abstract":"Internet shutdowns have proliferated in the last few years in India owing to the government’s effort to control the spread of rumours and misinformation primarily in periods when there is a possibility of tension or social unrest. This paper examines how public emergency and public safety, which comprises the core of the law for implementing internet suspension, is not adequately defined and therefore, continues to be used indiscriminately. This article reviews the use of internet shutdown as a public safety measure.","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":"49 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140699528","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"India Cannot Afford to Ignore Manufacturing","authors":"Sridhar Krishna","doi":"10.55763/ippr.2024.05.02.005","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.02.005","url":null,"abstract":"Raghuram Rajan and Rohit Lamba are clear that “Acche Din” are not here yet and the direction the NDA government is taking will not get India to the promised land soon. They recommend a strong push for services as against manufacturing, increased spending on education and healthcare, and devolution of power to local governments. They question the logic behind large subsidies to promote manufacturing when the jobs created in this manner are so few. ","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":"52 21","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140701404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Construction of a Composite Indicator for Debt Sustainability Analysis","authors":"Purnendu Kumar, Rahul Thekkedath, Nanu Ram Meena","doi":"10.55763/ippr.2024.05.02.002","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.02.002","url":null,"abstract":"\u0000 \u0000 \u0000 \u0000The size of fiscal deficits and sustainability of public debt levels remain a key macroeconomic policy problem in all emerging economies following the global financial crisis of 2008-09. In addition, the COVID-19 pandemic poses a considerable challenge to fiscal sustainability in developed and developing countries. Although the sustainability of public finances has been discussed for more than a century and studies have proposed several methods to define and assess debt sustainability, it remains an imprecise concept. This study proposes a new framework for public debt sustainability analysis by constructing a composite indicator, that is, a debt sustainability index. We emphasise the need for an explicit conceptual framework for constructing a composite index and usefulness of multivariate statistical analysis prior to the aggregation of individual indicators. The proposed approach can be used to analyse the debt sustainability of state governments (sub-nationals) in India. \u0000 \u0000 \u0000 \u0000","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":"5 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140700979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Similarities yet Divergence in South Asian Macroeconomic Performance","authors":"A. Goyal","doi":"10.55763/ippr.2024.05.02.001","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.02.001","url":null,"abstract":"\u0000Stylized business cycle facts for South Asia are both similar and different from other regions. They show the dominance of supply shocks, often amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate volatility rose initially on liberalization, but fell as markets deepened. A gradual approach to openness and market development, with flexible exchange rates, that avoided complete liberalization, worked well initially. But a combination of excessive government/foreign borrowing and inadequate reserves made it difficult for smaller countries to withstand the multiple external shocks that began with the global pandemic. Domestic ability to smooth shocks and global safety nets are both essential. India benefitted from growing diversity, evolution to countercyclical macroeconomic policy better suited to structure and a good coordination of monetary and fiscal policies, with balance between demand stimulus and continuing supply-side reforms. Reserves and capital flow management policies helped insulate from global shocks. Intervention damped excess exchange rate volatility, reducing risk premiums. \u0000","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":"51 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140699378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Semiconductor Geopolitics - Past, Present, and Future","authors":"Shree Kumar","doi":"10.55763/ippr.2024.05.01.005","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.01.005","url":null,"abstract":"This article reviews the book When the Chips are Down: A Deep Dive into a Global Crisis - the first book that deals with the geopolitics of semiconductors comprehensively from an Indian lens, while placing it simultaneously in the global context. The book demystifies semiconductors and their complex supply chain, alongside the evolving roles of various nation-states in it. The authors explain the 'meta-critical' aspects of semiconductors using three lenses: geopolitics, geoeconomics, and technology. Overall, the book is an essential read for policy makers in India; in less than two-hundred pages, it covers the essentials that can help create an action plan for the next twenty years for the Indian semiconductor industry.","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":" 32","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139788155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Interlinkages Between Economic Growth and Human Development in India","authors":"Janak Raj, Vrinda Gupta, Aakanksha Shrawan","doi":"10.55763/ippr.2024.05.01.003","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.01.003","url":null,"abstract":"\u0000This study explores the relationship between economic growth and non-income components (health and education) of the Human Development Index (HDI) for 26 Indian states during the period from 1990 to 2019. By applying the auto-regressive distributed lag (ARDL) model and Dumitrescu and Hurlin panel causality technique, the study identified a strong two-way relationship between economic growth and non-income components in the long run. Public expenditure on health and education did not impact human development outcomes, whereas total expenditure (public and private) did. However, public expenditure on health is crucial in ameliorating households’ financial burden and preventing impoverishment due to catastrophic health expenditure. Furthermore, the analysis of the relationship between different educational levels (primary, secondary, and tertiary education) and the gross state sectoral value added revealed that while education limited to the primary level had no discernible influence on economic activity, secondary and higher education played a pivotal role in determining sectoral economic activity. Secondary education positively influenced agriculture and manufacturing, while higher education significantly shaped the services sector. The impact of higher education on services was four times greater than that of secondary education on manufacturing. \u0000","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":"51 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139849301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Interlinkages Between Economic Growth and Human Development in India","authors":"Janak Raj, Vrinda Gupta, Aakanksha Shrawan","doi":"10.55763/ippr.2024.05.01.003","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.01.003","url":null,"abstract":"\u0000This study explores the relationship between economic growth and non-income components (health and education) of the Human Development Index (HDI) for 26 Indian states during the period from 1990 to 2019. By applying the auto-regressive distributed lag (ARDL) model and Dumitrescu and Hurlin panel causality technique, the study identified a strong two-way relationship between economic growth and non-income components in the long run. Public expenditure on health and education did not impact human development outcomes, whereas total expenditure (public and private) did. However, public expenditure on health is crucial in ameliorating households’ financial burden and preventing impoverishment due to catastrophic health expenditure. Furthermore, the analysis of the relationship between different educational levels (primary, secondary, and tertiary education) and the gross state sectoral value added revealed that while education limited to the primary level had no discernible influence on economic activity, secondary and higher education played a pivotal role in determining sectoral economic activity. Secondary education positively influenced agriculture and manufacturing, while higher education significantly shaped the services sector. The impact of higher education on services was four times greater than that of secondary education on manufacturing. \u0000","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":" 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139789697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Private and Public Expenditure on Education in India","authors":"V. Motkuri, E. Revathi","doi":"10.55763/ippr.2024.05.01.002","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.01.002","url":null,"abstract":"\u0000This paper examined the trends in private and public expenditure on education in India during the last seven decades. The analysis is based on public expenditure on education compiled by Ministry of Education, Government of India, that includes expenditure incurred by education department as well as by all other departments on education and training-related programmes and activities. The private final consumption expenditure (PFCE) on education as estimated by the national accounts and statistics (NAS) is the base for private expenditure on education. It is observed from the analysis that India’s spending on education reached its peak in the recent past. Public and private expenditure on education are respectively equivalent to 3.9% and 2.7% of its GDP in 2018-19. Together, the country’s spending on education is equivalent to 6.6% of GDP. A notable trend over the past three decades is that private expenditure on education is growing faster than that of the public. The ratio of public to private in terms of expenditure on education has declined during this period. This reflects increasing privatisation of education in India, and has far reaching policy implications. \u0000","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":" 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139788494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Semiconductor Geopolitics - Past, Present, and Future","authors":"Shree Kumar","doi":"10.55763/ippr.2024.05.01.005","DOIUrl":"https://doi.org/10.55763/ippr.2024.05.01.005","url":null,"abstract":"This article reviews the book When the Chips are Down: A Deep Dive into a Global Crisis - the first book that deals with the geopolitics of semiconductors comprehensively from an Indian lens, while placing it simultaneously in the global context. The book demystifies semiconductors and their complex supply chain, alongside the evolving roles of various nation-states in it. The authors explain the 'meta-critical' aspects of semiconductors using three lenses: geopolitics, geoeconomics, and technology. Overall, the book is an essential read for policy makers in India; in less than two-hundred pages, it covers the essentials that can help create an action plan for the next twenty years for the Indian semiconductor industry.","PeriodicalId":173340,"journal":{"name":"Indian Public Policy Review","volume":"382 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139848140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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