The Shift from Trade to Public Spending as the New Engine of Growth--and its Bad Timing
In this episode, Puja Mehra speaks with economist Dr. Anoop Singh, author of Managing Public Finances in a New Global Era: India’s Experiences and Challenges, about how India can strengthen fiscal discipline in an age of slowing trade and rising public debt. Singh explains why the world is shifting from trade-driven to fiscal-driven growth and how India must confront the challenges of opaque accounting, off-budget borrowing, and mounting subsidies. He highlights the urgent need for common definitions across states, transparent reporting, and institutional reform to ensure that every rupee spent is visible and accountable. Drawing on lessons from global peers, Singh argues that sustainable growth depends on seeing and managing what governments spend. “You cannot manage what you can’t see,” he warns. Tune in for insights on how India can build a more transparent and resilient fiscal framework for the years ahead.PDF - The State of State Finances in India: Bridging the Data Gaps: https://www.thecore.in/h-library/is-3aanoops.pdf For more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
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The Give and Take Needed to Bring the India–US Trade Deal Back on Track
In this episode, Puja Mehra speaks with economist Dr. Rajat Kathuria about the evolving landscape of India-US trade relations and the broader challenges of global economic engagement. Kathuria explains how India must balance political sensitivities in sectors like agriculture while ensuring competitive access to the US market. He highlights the importance of tariff reductions, strategic concessions, and diversification in trade and energy imports to attract investment and strengthen economic resilience. The discussion also delves into the role of media in shaping economic narratives and the lessons India can learn from China’s measured rise. Kathuria emphasizes India’s intrinsic entrepreneurial talent, frugal innovation, and the need to engage in global trade frameworks like CPTPP and RCEP. Tune in for insights on how India can leverage its strengths to become a leading global economic power.(00:00) Introduction(01:15) The Politics Behind India–US Trade Relations(04:40) Why Agriculture Is Always a Sticking Point(08:05) The Role of Tariffs and Market Access(11:20) What India Can Offer the United States(14:35) Mini Deals vs. Comprehensive Trade Agreements(17:10) How Global Trust Has Broken Down Since the Pandemic(20:25) India’s Strategy for Building Economic Resilience(23:45) The Importance of Diversifying Energy and Trade Partners(26:30) Media Narratives and Policy Misunderstandings(29:10) Learning from China’s Measured Global Strategy(31:45) Redefining India’s Red Lines in Trade Negotiations(33:00) Why Rajat Kathuria Remains Optimistic About India’s Future(34:56) ConclusionFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
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India’s Outsized Efforts for Outsized Growth Ambitions with Aurélien Kruse
In this episode, economic journalist and author Puja Mehra speaks to Aurélien Kruse, Lead Economist of the Economic Policy team in India at the World Bank and lead author of its recent report on India. The conversation unpacks how India can break out of the middle-income trap, why small firms struggle to scale up, and what stalled reforms on land, labour, and credit mean for the country’s competitiveness.They also discuss whether India’s large domestic market is enough to drive growth, the limits of tariff-led industrial policy, and why inclusive development—not just fiscal incentives—will ultimately determine the size of India’s consumer class and its ability to attract sustained private capital.Tune in for insights on what it will take to reignite private investment, implement reforms that actually deliver, and unlock India’s long-awaited growth potential. This episode offers both a reality check on India’s reform story and a roadmap for policymakers to create a more predictable, investment-friendly future.For more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
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The GST Reform India Needs but Didn’t Get with Arbind Modi
In this episode, economic journalist and author Puja Mehra speaks to Arbind Modi, retired IRS officer and Senior Economist at the IMF and one of the chief architects of India’s Goods and Services Tax (GST), about what India’s broken tax system means for its growth ambitions. The conversation explores how GST’s design flaws have hurt competitiveness, why exempting large sections of income undermines fairness, and how Centre–State revenue sharing has created new fiscal strains.The discussion connects India’s tax choices to global shifts, from the Trump-era trade wars to the reordering of supply chains, making clear that without serious reform, India risks missing yet another growth opportunity.Tune in for insights on what it will take to reset India’s tax system, revive competitiveness, and lay the foundation for sustained 8% growth. This episode is both a masterclass in India’s tax system and a call for bold, evidence-driven policymaking.(00:00) Introduction(02:15) Why GST Hasn’t Delivered on Its Promise(07:42) Fixing GST Design and Efficiency(12:30) The Problem with GST Rates and Complexity(16:58) Corporate Tax Cuts and Their Consequences(21:47) Why Income Tax Exemptions Are a Mistake(27:15) The Centre–State Revenue Sharing Dilemma(32:44) The Case for Comprehensive Tax Reform(38:52) How GST Reform Could Unlock Higher Growth(46:10) Why Political Will Matters More Than Bureaucratic Hesitation(51:21) Decluttering GST and Fixing Excise Duties(55:23) Why Taxing Gold Jewellery Hurts the Poor(59:26) ConclusionFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
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Why India’s Russian Oil Imports are Suddenly Bugging Trump with Suhasini Haidar
In this episode, journalist Puja Mehra speaks to Suhasini Haidar, Diplomatic Affairs Editor of The Hindu, about what India’s failed trade deal with Donald Trump reveals about the country’s foreign policy. The discussion unpacks how India balances principles with pragmatism in global negotiations, the costs of missed opportunities in its own neighbourhood, and the deeper shifts from globalisation to populism that are reshaping trade worldwide. Suhasini also explains why India’s diplomatic space depends not only on economic choices but also on the strength of its democratic and pluralistic values.Tune in for insights on how India can navigate uncertainty, define its red lines, and reset its strategy for the future.For more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
Join journalist Puja Mehra as she breaks down one story to give you all the context you need to understand how it fits into the larger picture of India's economy.
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