Pinaki Chakraborty is Vice-Chairman, Institute of Development Studies, Jaipur, and Visiting Distinguished Professor, National Institute of Public Finance and Policy, New Delhi. Chakraborty has served as Economic Adviser to the Fourteenth Finance Commission of India. He has also worked for the Asian Development Bank and the UNICEF. He was previously Director, National Institute of Public Finance and Policy, New Delhi.K R Shanmugam is Professor and Director, Madras School of Economics. He has previously served as an Independent Director of ITI limited. He has also been a member of the following: the Steering Committee on Research in Environment at the Ministry of Environment, Forest, and Climate Change; Academic Councils of the Central University of Tamil Nadu, Indian Institute of Finance, and Sri Sathya Sai Institute of Higher Learning; and various committees of the Government of Tamil Nadu. He is currently a Non-Official member of the State Planning Board of the Government of Puducherry and has previously been a Non-Official member of the Central Direct Taxes Advisory Committee, Ministry of Finance, Government of India.

• 1: Introducing the Volume on Fiscal Policy and Public Financial Management Part I: Fiscal Policy and Macroeconomy 2: Sustainability of Public Debt in India: An Economic Perspective 3: Post-COVID Economic Recovery, Macroeconomic Uncertainties, and Fiscal Responsibility 4: Fiscal Policy for Growth and Stabilization: Theory and Application in India Part II: Tax Policy Issues 5: Goods and Services Tax in India: Transition, Experience, and Future Reforms 6: GST, End of Compensation Regime, and Stress on State Finances 7: Tax Expenditures on Union Taxes in India from 2005-06 to 2019-20 8: Tax Evasion and Unaccounted Incomes: A Theoretical Approach Part III: Fiscal Federalism 9: Fiscal Transfers in India: Equalization in Theory and Practice 10: Indian Fiscal Federalism in Practice 11: Environmental Federalism in an Emerging Economy: An Empirical Analysis 12: Fiscal Federalism in India: A Case for Reassigning of Tax Powers Part IV: Public Financial Management and Environmental and Climate Finance 13: Public Financial Management in India: Reforms and Opportunities 14: Economic Valuation of Wetland Ecosystem Services: Current Status and the Way Forward 15: Climate Risks and Financial Management 16: Financial Analysis of Publicly Funded Investment Projects 17: Project Appraisal and Alternative Sources of Funding: Some Perspectives to Improve Viability 18: Public Financial Management and Budget Credibility: Analysing Subnational Fiscal Marksmanship in India

Pinaki Chakraborty is Vice-Chairman, Institute of Development Studies, Jaipur, and Visiting Distinguished Professor, National Institute of Public Finance and Policy, New Delhi. Chakraborty has served as Economic Adviser to the Fourteenth Finance Commission of India. He has also worked for the Asian Development Bank and the UNICEF. He was previously Director, National Institute of Public Finance and Policy, New Delhi.K R Shanmugam is Professor and Director, Madras School of Economics. He has previously served as an Independent Director of ITI limited. He has also been a member of the following: the Steering Committee on Research in Environment at the Ministry of Environment, Forest, and Climate Change; Academic Councils of the Central University of Tamil Nadu, Indian Institute of Finance, and Sri Sathya Sai Institute of Higher Learning; and various committees of the Government of Tamil Nadu. He is currently a Non-Official member of the State Planning Board of the Government of Puducherry and has previously been a Non-Official member of the Central Direct Taxes Advisory Committee, Ministry of Finance, Government of India.

• 1: Introducing the Volume on Fiscal Policy and Public Financial Management Part I: Fiscal Policy and Macroeconomy 2: Sustainability of Public Debt in India: An Economic Perspective 3: Post-COVID Economic Recovery, Macroeconomic Uncertainties, and Fiscal Responsibility 4: Fiscal Policy for Growth and Stabilization: Theory and Application in India Part II: Tax Policy Issues 5: Goods and Services Tax in India: Transition, Experience, and Future Reforms 6: GST, End of Compensation Regime, and Stress on State Finances 7: Tax Expenditures on Union Taxes in India from 2005-06 to 2019-20 8: Tax Evasion and Unaccounted Incomes: A Theoretical Approach Part III: Fiscal Federalism 9: Fiscal Transfers in India: Equalization in Theory and Practice 10: Indian Fiscal Federalism in Practice 11: Environmental Federalism in an Emerging Economy: An Empirical Analysis 12: Fiscal Federalism in India: A Case for Reassigning of Tax Powers Part IV: Public Financial Management and Environmental and Climate Finance 13: Public Financial Management in India: Reforms and Opportunities 14: Economic Valuation of Wetland Ecosystem Services: Current Status and the Way Forward 15: Climate Risks and Financial Management 16: Financial Analysis of Publicly Funded Investment Projects 17: Project Appraisal and Alternative Sources of Funding: Some Perspectives to Improve Viability 18: Public Financial Management and Budget Credibility: Analysing Subnational Fiscal Marksmanship in India

Pinaki Chakraborty is Vice-Chairman, Institute of Development Studies, Jaipur, and Visiting Distinguished Professor, National Institute of Public Finance and Policy, New Delhi. Chakraborty has served as Economic Adviser to the Fourteenth Finance Commission of India. He has also worked for the Asian Development Bank and the UNICEF. He was previously Director, National Institute of Public Finance and Policy, New Delhi.K R Shanmugam is Professor and Director, Madras School of Economics. He has previously served as an Independent Director of ITI limited. He has also been a member of the following: the Steering Committee on Research in Environment at the Ministry of Environment, Forest, and Climate Change; Academic Councils of the Central University of Tamil Nadu, Indian Institute of Finance, and Sri Sathya Sai Institute of Higher Learning; and various committees of the Government of Tamil Nadu. He is currently a Non-Official member of the State Planning Board of the Government of Puducherry and has previously been a Non-Official member of the Central Direct Taxes Advisory Committee, Ministry of Finance, Government of India.

• 1: Introducing the Volume on Fiscal Policy and Public Financial Management Part I: Fiscal Policy and Macroeconomy 2: Sustainability of Public Debt in India: An Economic Perspective 3: Post-COVID Economic Recovery, Macroeconomic Uncertainties, and Fiscal Responsibility 4: Fiscal Policy for Growth and Stabilization: Theory and Application in India Part II: Tax Policy Issues 5: Goods and Services Tax in India: Transition, Experience, and Future Reforms 6: GST, End of Compensation Regime, and Stress on State Finances 7: Tax Expenditures on Union Taxes in India from 2005-06 to 2019-20 8: Tax Evasion and Unaccounted Incomes: A Theoretical Approach Part III: Fiscal Federalism 9: Fiscal Transfers in India: Equalization in Theory and Practice 10: Indian Fiscal Federalism in Practice 11: Environmental Federalism in an Emerging Economy: An Empirical Analysis 12: Fiscal Federalism in India: A Case for Reassigning of Tax Powers Part IV: Public Financial Management and Environmental and Climate Finance 13: Public Financial Management in India: Reforms and Opportunities 14: Economic Valuation of Wetland Ecosystem Services: Current Status and the Way Forward 15: Climate Risks and Financial Management 16: Financial Analysis of Publicly Funded Investment Projects 17: Project Appraisal and Alternative Sources of Funding: Some Perspectives to Improve Viability 18: Public Financial Management and Budget Credibility: Analysing Subnational Fiscal Marksmanship in India