ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Inclusive Fiscal Adjustment for Reviving Growth

Unrealistic revenue projections leading to strong expenditure compression is primarily responsible for India’s growth deceleration. Growth will decelerate further without a programme of deep fiscal adjustment. How a fiscal space, amounting to over 6% of the gross domestic product, can be freed through such an adjustment programme is demonstrated. This space can be potentially used for an inclusive public expenditure-led strategy for reviving growth.

Game Theory in Economics

Adding to the ongoing debate on how best to understand game theory and its relevance to economics, a response toAtanu Sengupta and Abhijit Ghosh’s “Non-cooperativeGame Theory and Pay-off” (EPW, 28 January 2017).

India and the War against Terrorism

India's foreign minister has described the war against terrorism as between a coalition of democracies and terrorism. But that does not isolate terrorism. There are many countries which are not democratic or are semi-democratic whose support needs to be enlisted. India's main enemy today is not Pakistan, or Afghanistan, but terrorism. It should contribute in building the broadest possible anti-terrorist coalition.
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