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Met with officers from 14 Indian states/UTs to present findings on financial inclusion and how digitization boosts access to finance. Engaging discussions sparked ideas for future research. Excited for impactful collaborations that can shape policy!

A new India-China fact (to me): The Chinese state prioritized primary education over secondary/tertiary, while the Indian state did the opposite. Chinese primary enrollment rate passed India in 1950, secondary 1975, and tertiary only in 2000!

An extraordinary paper on the long history of the Sino-Indian divergence in human capital investment & attainments & their development consequences. Nitin Kumar Bharti and Li Yang. There's so much information crammed into this!!! congress-files.s3.amazonaws.com/2021-12/Human_…

Population aging and decline constitutes a long-term economic threat to our way of life. And unlike the threat of climate change, this is one that we don't yet have any solution for. noahpinion.blog/p/nobody-knows…

Bank loans to divorced males are going to cost more going forward to account for the dilution of priority. The entire loan book catering to this category just took a huge hit. Multiple research papers loading…

Excited to host the 3rd annual ISB-NBER conference on Economic Policy & the Indian Economy at our Hyderabad campus, Dec 14-15, 2024. Co-organised by Shilpa Aggarwal (ISB) & Amit Seru (Stanford/NBER), the event will explore digital market competition & policy impacts. More info:

India's launch of Unified Payment Interface increased credit to underserved and unserved borrowers, as evidenced by data on the universe of consumer loans, from Shashwat Alok, Pulak Ghosh, Nirupama Kulkarni, and Manju Puri nber.org/papers/w33259

As a society, we need to be more risk-seeking, starting with our policymakers and regulators. Our excessive focus on downside risk avoidance is a bane. Sustainable growth necessitates innovation, which in turn demands a culture of experimentation and tolerance for failure!

The second column in the series is by Shashwat Alok, Associate Prof of Finance, ISB. He lists growth-oriented regulations, deep tech push; investment in human capital, particularly in STEM fields, as priorities for the upcoming Budget for 2025-26. Read: indianexpress.com/article/busine…

I list my expectations from the budget 2025 and argue for a decisive shift from a stability-centric and tax revenue-oriented to a growth-oriented regulatory mindset, enabling patient financial capital and tolerance to failure to foster innovation and investments in human capital.

Why fund highly novel research? It can improve the evolution of knowledge by guiding future researchers. We propose a model in which researchers decide which questions to address and at what intensity to search for the answer based on existing knowledge. econometricsociety.org/publications/e…

New entrants take a swing, show the way 👏 …acturing.economictimes.indiatimes.com/news/aerospace… >Deepinder Goyal makes $20M investment in short takeoff and landing (STOL) aircraft developer LAT Aerospace 🛩️ Don’t expect Big Business in India to do anything like this. Their brightest idea would be to go to

Just wrapped up an incredible 2 days at the #WEFIDEV2025 Conf at LSE insightful papers, thoughtful discussions, and an inspiring community of researchers at the intersection of finance and development. Huge thanks to the organisers for putting together such a fantastic event!

Order books in hand, working capital strapped, struggling to execute coz of arcane laws on manufacturing. Banks don't have balls to do cashflow financing - collateral is required. Equity raising is getting tonsils removed through a stomach surgery as everyone is a launderer 3

A must read for PMO India if the government is serious about boosting growth, innovation, and manufacturing!

India must ease its regulatory burden and uncertainty if it aims to capitalize on the need of firms to diversify their supply chain risks amid rising global uncertainty. We need to create jobs; we need to grow at 8%+, and we need to usher in reforms now!

This is an amazing development! A major commitment made in Budget 2025 is now delivered ✅ m.economictimes.com/news/science/b… “The Union Cabinet approved the Research Development and Innovation (RDI) Scheme with a corpus of Rs. One lakh Crore to spur private sector investment in RDI.

India needs to enhance its scientific and technological capabilities rapidly. We must do everything possible to retain and attract the best minds, “innovate in India,” and own our tech. And we must act now. PMO India Ministry of Finance