Informatics Publishing Limited

Pushpa Trivedi ¹

Affiliations
1 Indian Institute of Technology, Powai, Bombay, IN

Abstract

The indices of Real Effective Exchange Rate (RER) compiled by the RBI end the other researchers assume a static direction and/or commodity-composition of India's exports. These assumptions lose validity as the time-span for which the series is constructed is lengthened. In view of this, it is argued that use of a variable weighting method - based on the exports shares of the previous five years could be adopted to overcome the assumption of a static direction of exports. Moreover, exports of a country have to be globally price-competilive. Hence, the relative inflation rate of country should be measured with respect to the low inflation countries with sizeable share in the global real income. By including countries with very high and chronic inflation rates, the RBI series has underestimated India's relative inflation rateas also the extent of nominal depreciation. Though the extent of underestimation in the real exchange rate on account of this factor is marginal, yet the distortions in the component series can give wrong signals for the policy guidelines. It may lead to complancency for pursuing tight monetary and flscal policies for the containment of inflation at home. Hence, excluding some of these countries is suggested. Lastly. in the economic literaturte these indices are compiled by using the modern definition, wherein the proxies of Wholesale Priceof Index (WPI) (for the rest of the world) and Consumer Price Index (CPI) (for the domestic economy) are used as the proxies for the prices of tradables and non-tradables. respectively. The RBI has not provided any theoretical justifictttion for using these proxies in an exactly opposite manner.

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Nayanatara S. Nayak ¹, Pushpa Trivedi ², D. R. Revankar ¹

Affiliations
1 CMDR, Dharwad, IN
2 Department of Humanities and Social Science, IIT, Powai, Mumbai, IN

Abstract

The health system of a country is one of the major indicators of human development. Though, India has achieved significant success as regards the general growth rate over the last decades, her health system is still at cross roads. Though the government has taken great initiative to improve the public health facilities, much remains to be done. The major challenge in this area for the researchers and the policy makers is the assessment of the performance of health sector. In this background the present study has been undertaken to develop methodologically robust state level health account, to contribute to the institutionalisation of health accounts and generation of health accounts and generation of health accounts metrics for Maharashtra.

Keywords

Health Accounts, Health Sector, Health System.

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Pushpa Trivedi ¹, Pritee Sharma ¹

Affiliations
1 Department of Humanities and Social Sciences, Indian Institute of Technology, Bombay, IN

Abstract

The objectives of the General Agreement on Tariffs and Trade (GATT) and the World Trade
Organisation (WTO) have been to promote multilateralism and non-discriminatory trade practices. Over the years, especially in the nineties, regionalism has paralleled the growth of multilateralism.

Keywords

WTO, Trade Disputes, Multilateralism, Regionalism.

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Pushpa Trivedi

Abstract

India has relied on capital inflows for financing current account deficits and for growth-promotion. The composition of capital inflows has undergone a major change during the period of the study. External assistance which was a major component of capital inflows has been replaced by external commercial borrowings, deposits of the non-resident Indians and by other forms of capital. This change implies that capital will come to India on market-dictated terms rather than as soft loans. Recent inflows of capital to India can be attributed both to the internal as well as external factors. Indicators of monetary, fiscal and external sectors did give signals of credibility to the foreigners. Declining interest rates and recessionary conditions in the industrial countries can partly explain the capital inflows to the developing countries as also to India. The empirical evidence suggests that volatility in current account can explain the fluctuations in capital inflows and that fluctuations in the components of capital flows (except external assistance) have been, by and large, higher than the fluctuations in total capital flows. implying thereby. substitution between the various components of capital inflows. The Reserve Bank of India has resorted to both intervention in foreign exchange market so as to avoid appreciation of the rupee needed for promotion of exports and also to sterilisation for the sake of monitoring the inflationary impact of capital inflows. This can be regarded as one of the reasons for a substantial jump in increase in debt-stock of the central government. Given the hardening of interest rates abroad, revival of growth in industrial countries, political uncertainty and weak fiscal management in the Indian economy. we should realise that this task is not an easy one. Even if we are able to invite capital flows which may come due to external reasons alone, the monetary policy will have to grapple with the problem of capital flows so as to retain international competitiveness of India's exports and to contain inflation.

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