Category Center for the Study for Finance and Economics

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GST Rate Rationalization Framework: Evaluating Input Tax Credit Fraud and Structural Revenue Efficiency

The rollout of the Goods and Services Tax (GST) in July 2017 marked the most extensive structural overhaul of India's fiscal federalism, subsuming 17 distinct central and state levies along with 13 cesses into a single indirect taxation architecture. Designed to eliminate the cascading tax-on-tax effect, establish a unified national market, and accelerate economic formalization, the original GST regime was constructed around a four-tier rate structure comprising 5%, 12%, 18%, and 28% tax slabs, supplemented by special reduced rates for precious metals and an additional Compensation Cess on select luxury and sin goods. While this multi-tiered framework was politically essential at inception to achieve revenue neutrality and protect low-income consumption, over time it introduced operational frictions, tax classification disputes, and severe structural distortions.   

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Fiscal Health Index 2026: Are Indian States Building Sustainable Public Finances?

India's fiscal stability is closely linked to the financial health of its states, which account for a significant share of public expenditure and revenue. Differences in revenue mobilisation, expenditure quality, fiscal deficits and debt levels can create substantial variation in the fiscal resilience of individual states. NITI Aayog introduced the Fiscal Health Index (FHI) as a systematic framework to assess and benchmark the fiscal performance of states. States can track their performance across the five pillars: Quality of Expenditure, Revenue Mobilisation, Fiscal Prudence, Debt Index and Debt Sustainability: year-on-year and identify areas where deterioration is taking place (NITI Aayog, 2026a). 

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Madhya Pradesh Department wise Schemes Update 2026

Madhya Pradesh, located in central India, has Bhopal as its capital and is the second-largest state in India by area and the fifth-largest by population, with more than 72 million residents. The state has a diversified economy driven by agriculture, mining, manufacturing, tourism and services. It is one of India’s leading agricultural producers, particularly in pulses, oilseeds and soybean, and has significant mineral resources, including large reserves of diamonds and copper. Madhya Pradesh has a projected GSDP of ₹18.48 lakh crore for 2026–27, representing a nominal growth rate of 11% over the revised 2025-26 estimate(PRS Legislative Research). 

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Karnataka’s Gruha Lakshmi Yojana (2023)

Women’s economic insecurity is shaped by more than the absence of a regular wage. Many women manage food purchases, children’s schooling, health care, care work and household budgeting, often without independent control over income. This is particularly important in households dependent on informal work, seasonal employment, small farming or irregular daily earnings. State governments have increasingly responded to this gap through direct benefit transfer programmes that credit cash directly into women’s bank accounts.

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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.

WhatsApp Image 2026 09 12 at 11.34.52 PM

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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