Category Center for the Study for Finance and Economics

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India Infrastructure Project Development Fund (2007; Revamped 2022): Strengthening India’s PPP Infrastructure Pipeline

India’s infrastructure requirements are expanding rapidly, making private investment an important complement to public spending. The National Infrastructure Pipeline (NIP) envisaged investments of about ₹111 lakh crore between FY2020 and FY2025, underscoring the scale of financing required. Public-Private Partnerships (PPPs) can help bridge this requirement by combining public oversight with private capital and expertise.

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Banking BHASHINI: Assessing Algorithmic Inclusion in Rural Credit Underwriting Markets

India's financial inclusion landscape is undergoing a structural paradigm shift, transitioning from expanding basic brick-and-mortar banking access to deploying an intelligent, real-time digital public ecosystem. Traditionally, financial inclusion has been defined as the process of ensuring access to financial services, with timely, adequate, and affordable credit, primarily for vulnerable populations and low-income groups. However, actualizing this definition in rural credit markets has historically been hindered by two structural barriers: a lack of verifiable credit histories among thin-file borrowers and the linguistic exclusion of regional-language-speaking communities.

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Mapping the Ministry of Statistics and Programme Implementation (MoSPI): Policies, Schemes and Initiatives

The Ministry of Statistics and Programme Implementation (MoSPI) came into being as an independent Ministry on 15 October 1999, formed by merging the erstwhile Department of Statistics with the Department of Programme Implementation. Its statistical lineage traces back to foundational institutions conceptualized by P.C. Mahalanobis is regarded as the architect of India's statistical system who established the National Sample Survey (NSS) in 1950, followed by the creation of the Central Statistical Organisation (CSO) in 1951.

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Direct Tax Vivad se Vishwas Scheme (2024): Clearing India’s Income Tax Litigation Backlog

The Direct Tax Vivad Se Vishwas Scheme, 2024 was introduced by the Finance Minister, Nirmala Sitharaman in the Union Budget 2024-25 held on 23 July 2024. The Scheme was later put into law through Chapter IV which contains Sections 88 to 99 of the Finance (No. 2) Act, 2024. The rules and forms for this scheme were issued by the Central Board of Direct Taxes on 20 September 2024, and it came into force on 1 October 2024. As per Circular No. 19 of 2024 of CBDT, the objective of this Scheme is to bring down the pendency of cases relating to income tax, faster realization of revenue for the government and providing relief to taxpayers from protracted legal process (Central Board of Direct Taxes, 2024).

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The 2026 Fiscal Framework of Credit Cards under India’s Liberalised Remittance Scheme (LRS)

Over the past decade, India’s integration with the global digital economy has driven a rapid increase in foreign currency transactions by resident individuals. From overseas education expenses and international business travel to cross-border e-commerce subscriptions, resident taxpayers rely on a multi-tiered array of foreign exchange instruments. Historically, outward remittances and foreign currency expenditures have been governed by the Reserve Bank of India’s (RBI) Liberalised Remittance Scheme (LRS), which establishes an annual permissible cap of USD 250,000 per financial year for resident individuals.

biopharma

Biopharma SHAKTI (2026): Strengthening India’s Biopharmaceutical Manufacturing

Biopharma SHAKTI (Strategy for Healthcare Advancement through Knowledge, Technology and Innovation) was proposed in the Union Budget 2026–27 to develop India as a global biopharma manufacturing hub. The initiative has an outlay of ₹10,000 crore over the next five years and aims to build an ecosystem for the domestic production of biologics and biosimilars (Government of India, 2026a). The initiative was announced as part of the Union Government’s broader focus on the healthcare sector under the three Kartavyas outlined in the Union Budget 2026–27: accelerating and sustaining economic growth, fulfilling aspirations and building the capacity of the population, and ensuring access to resources for every family, community, region and sector. Health was identified as an important component of all three priorities.

Arjya

Digitalising Retirement Security: Assessing the Role of eNPS in Expanding Pension Access Since 2015

The electronic National Pension System (eNPS) is the online platform of India’s National Pension System (NPS), developed to enable seamless digital registration, contribution, and account management. NPS itself was introduced by the Government of India initially only for Central Government employees (except armed forces) joining service on or after 1 January 2004, replacing the earlier defined-benefit pension system, and was extended to all citizens on a voluntary basis from May 2009. It is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) under the PFRDA Act, 2013 (effective 1 February 2014) (Department of Financial Services, Ministry of Finance, n.d.; PFRDA, 2025).

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