India Policy Forum is an annual publication jointly promoted by the National Council for Applied Economic Research, New Delhi and the Brookings Institution in Washington D.C., with the objective of presenting high-quality empirical research on the major economic policy issues that confront contemporary India. The papers cover a diverse set of macro and microeconomic topics of relevance to policymakers. The prime objective of this volume is to make the policy discussion accessible to a broad non-specialist audience within India and abroad and assist in the development of a global network of scholars interested in India’s economic transformation.

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