Public Finance
Public finance is the skeleton key to understanding the Indian state. I research fiscal federalism — how money flows between the Union and state governments — municipal finance, the politics of taxation, and why India’s fiscal architecture shapes everything from infrastructure to welfare.
Key stat
Urban areas contribute 60% of India’s GDP, yet the total self-generated revenue of all municipal corporations combined is merely 0.4% of GDP. There will be no Viksit Bharat without decent cities.
Big idea
We need a Regulatory Responsibility Act on the lines of the FRBM Act — a law for regulatory discipline, not just fiscal discipline.
Talks & Slides
The regressive nature of central transfers on health
Event: CEPPF, Patna
Date: December 7, 2018
Selected Writings
30 pieces across blog posts, op-eds, and publications.
Blog · Feb 2026
Karnataka at the 16th Finance Commission: Concerns, Prospects, and a Way Forward
Publication · Takshashila Publication · with Sarthak Pradhan · Sep 2024
Karnataka at the 16th Finance Commission: Concerns, Prospects, and a Way Forward
Publication · Takshashila Discussion Document · with Sarthak Pradhan · Sep 2024
India’s fiscal imbalance isn’t a North vs South problem. Here’s what lies at the ‘centre’ of it
Op-ed · The Print · Sep 2024
Why resource distribution is creating a North-South divide
Op-ed · Times of India · Feb 2024
A gradual approach on defence spending
Op-ed · Hindustan Times · Feb 2023
India’s Defence Budget: As Border Tensions With China Simmer, Can Govt Level Up?
Op-ed · The Quint · Jan 2023
Neither Guns nor Butter: The Inconvenient Truth of India’s Defence Financing
Publication · Book Chapter · Nov 2022
How the Defence Pension Bill became a Big Burden
Op-ed · Hindustan Times · Jun 2022
Rough Calculations on Agnipath’s Pension-Saving Potential show why the Change is Crucial
Op-ed · Times of India · Jun 2022
Four ways to stop pay, pension bill eating up our defence budget
Op-ed · Times of India · Jun 2022
Dear Govt of India, Here’s Why a Cess Needs Impact Analysis Report
Op-ed · The Quint · Apr 2021
Making State Finance Commissions work
Op-ed · Deccan Herald · Feb 2021
House defence panel must ask 4 key questions — from lower expenditure to pension bill
Op-ed · The Print · Feb 2021
Does the budget meet India’s defence requirements?
Op-ed · Hindustan Times · Feb 2021
Looking beyond the Budget numbers to see if government schemes really work
Op-ed · Deccan Herald · Jan 2021
Managing India’s Defence Expenditure Requires a Whole-of-Government Approach
Op-ed · The Print · Nov 2020
Is India’s rising defence pension bill affecting modernisation of military? 5 myths busted
Op-ed · The Print · Mar 2020
Karnataka Budget Could Have Done More to Spur Growth
Op-ed · Deccan Herald · Mar 2020
The Regressive Nature of Central Transfers for Health
Publication · Takshashila Working Paper · Dec 2019
Finance Commission’s New Problem: A Separate Defence Fund
Op-ed · Deccan Herald · Aug 2019
A Qualitative and Quantitative Analysis of Public Health Expenditure in India
Publication · Takshashila Working Paper · Jul 2018
Why the south-vs-north debate is a flawed way to analyse the 15th Finance Commission formula
Op-ed · The Print · Mar 2018
Karnataka’s Changing Fiscal Landscape
Op-ed · Economic and Political Weekly · Aug 2016
Karnataka’s Changing Fiscal Landscape after the 14th Finance Commission
Publication · Economic and Political Weekly · Aug 2016
State budget: Time to set its priorities right
Op-ed · Deccan Herald · Mar 2016
The Shifting Political Economy of Centrally Sponsored Schemes
Op-ed · The Wire · Mar 2016
Impact of Fourteenth Finance Commission
Op-ed · Economic and Political Weekly · Nov 2015
Blog · Jun 2014
Blog · Jan 2014