Page 4 - ES 2020-21_Volume-1-2 [28-01-21]

CONTENTS

Chapter No. Page No. Name of the Chapter

1 Saving Lives and Livelihoods amidst a Once-in-a-Century Crisis
3 COVID-19: Once in A Century ‘Crisis’
6 Research-Driven Policy Response amidst Unprecedented Uncertainty
15 India’s Humane Policy Response: Short-Term Pain, Long-Term Gain
17 Efficacy of Initial Lockdown in Controlling the Pandemic
26 India: Riding Against the Wave
29 V-Shaped Economic Recovery Due to Timely Stringent Lockdown
32 Far-Sighted Policy Response for Economic Recovery
40 Looking Forward

2 Does Growth lead to Debt Sustainability? Yes, But Not Vice- Versa!
48 The (R-G) Differential and Debt Sustainability in India
52 The IRGD and Debt Sustainability for Other Economies
56 In India, Growth Leads to Debt Sustainability, Not Vice-Versa
60 Direction of Causality in Other Economies
64 Crowding Out Due to Public Expenditure?
69 Structure of India’s Debt
71 Scenario Analysis: Is India’s Current Debt Sustainable?
75 Policy Implications

3 Does India’s Sovereign Credit Rating Reflect Its Fundamentals? No!
85 The Bias Against Emerging Giants in Sovereign Credit Ratings
86 India’s Sovereign Credit Ratings
90 Does India’s Sovereign Credit Rating Reflect its Fundamentals? No!
96 Have India’s Sovereign Credit Ratings Reflected its Fundamentals in the Past? No!
99 Does India’s Sovereign Credit Rating Reflect its Willingness and Ability to Pay?
No!
102 Effect of Sovereign Credit Rating Changes on Select Indicators
110 Macroeconomic Indicators as Determinants of Sovereign Credit Rating Changes
115 Policy Implications

4 Inequality and Growth: Conflict or Convergence?
122 Introduction
123 Growth, Inequality, and Socio-Economic Outcomes: India Versus The Advanced
Economies
137 Is Perfect Equality Optimal?
138 Inequality or Poverty?
139 Relative Impact of Economic Growth and Inequality on Poverty in India
143 Summary and Conclusions