Category Center for the Study for Finance and Economics

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BHAVYA-Rasayan (2026): Developing Dedicated Chemical Parks to Strengthen India’s Chemical Manufacturing Sector

The Bharat Audyogik Vikas Yojana Rasayan (BHAVYA–Rasayan Scheme) was announced in the Union Budget 2026–27 and approved by the Union Cabinet for establishing three dedicated Chemical Parks in India. Of the total financial outlay of ₹3,030 crore, ₹3,000 crore will be allocated for establishing common infrastructure and basic utilities, while ₹30 crore will be earmarked for administrative expenditure. The scheme will be implemented over a period of five years, from FY 2026–27 to FY 2030–31. It focuses on strengthening India’s chemical manufacturing ecosystem by creating dedicated industrial clusters with improved infrastructure and shared utilities. 

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Atal Pension Yojana (2015-2026): Assessing a Decade of India’s Pension Push

The Atal Pension Yojana (APY) was introduced in 2015 as a voluntary pension scheme to address a pressing gap in India's social security system. It was originally launched as the Swavalamban Yojana under the UPA government before being relaunched and renamed Atal Pension Yojana in 2015 and thus, giving the scheme a stronger and wider reach. This shift was necessary because most Indian workers exist outside formal employment. As a result, they do not receive employer-linked pension benefits, which leaves them with limited financial security after retirement. To address this, Atal Pension Yojana was designed to encourage retirement savings among this segment in order for subscribers to become entitled to a guaranteed monthly pension once they turn sixty.

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Atmanirbhar Panchayat Programme: Can Fiscal Autonomy Strengthen Grassroots Democracy?

The 73rd Constitutional Amendment gave Panchayati Raj Institutions constitutional status and strengthened the framework for decentralised governance. However, effective local self-government also requires financial capacity. Article 243H of the Constitution enables State legislatures to authorise Panchayats to levy, collect and appropriate taxes, duties, tolls and fees, and to provide for the assignment of revenues and grants to them. Thus, the constitutional framework recognises fiscal capacity as an important component of effective local self-government. Continued dependence on government grants, however, can limit the ability of Panchayats to respond independently to local priorities.

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Building a Healthier Rajasthan: The Economics of Health Assurance

Manorama BakshiArjun Kumar India cannot claim first-world economic productivity while its citizens remain exposed to third-world, catastrophic medical bills. Healthcare shocks routinely force households to sell assets, take on debt and cut essential spending, trapping families in a cycle of…

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Beyond the Health Card: Strengthening Health Assurance in Goa

Manorama BakshiArjun Kumar Goa’s Health Assurance Question India’s health protection landscape has gradually moved from fragmented, state-specific insurance arrangements towards broader public assurance systems. Within this shift, Goa offers a distinctive model. The Deen Dayal Swasthya Seva Yojana (DDSSY) is…

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Citizen financial cyber fraud reporting and management system (CFCFRMS): strengthening India’s response to digital financial fraud

India’s rapid expansion of digital payments has increased the speed and convenience of financial transactions, but it has also created new avenues for cyber-enabled financial fraud. Since fraudulent funds can be siphoned off quickly, timely reporting and immediate intervention are critical to preventing further financial loss. The Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) was specifically launched to enable immediate reporting of financial frauds and prevent fraudsters from siphoning off funds (Press Information Bureau, 2026). 

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End of an Era: Why India Discontinued the Sovereign Gold Bond (2024)

The Sovereign Gold Bond (SGB) scheme was conceived as part of a broader strategy to curb India's heavy reliance on physical gold imports, which were seen as a drag on the current account deficit and a source of unproductive household savings. The scheme was first announced in the Union Budget 2015-16 by then Finance Minister Arun Jaitley, approved by the Union Cabinet on 9 September 2015, and formally launched by Prime Minister Narendra Modi in New Delhi on 5 November 2015, alongside the Gold Monetisation Scheme and the Indian Gold Coin (PMO India, 2015).

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