National Council of Applied Economic Research Annual Report 2017–18 A E C R N 60 National Council of Applied Economic Research Annual Report 2017–18 NCAER ANNUAL REPORt 2017–18 i © National Council of Applied Economic Research, 2018 August 2018 Published by Anil K. Sharma Senior Fellow and Secretary and Head, Operations National Council of Applied Economic Research Parisila Bhawan, 11 Indraprastha Estate New Delhi 110 002 Tel: +91-11-2337-9861 to 3 Fax: +91-11-2337-0164 [email protected] www.ncaer.org Compiled by Jagbir Singh Punia Coordinator, Publications Unit ii NCAER ANNUAL REPORt 2017–18 NCAER | Quality . Relevance . Impact he National Council of Applied Economic Research, or NCAER as it is more commonly known, isT India’s oldest and largest independent, non-profit, economic policy research institute. It is also one of a handful of think tanks globally that combine rigorous analysis and policy outreach with deep data collection capabilities, especially for household surveys. NCAER celebrated its 60th anniversary Phase 1 of the NIC, consisting of a new in 2016. office tower, a new conference centre, NCAER’s roots lie in the early vision the NIC Plaza and ample underground of India’s first Prime Minister of a parking was completed in 2018. Phase newly independent India needing 2, the architectural restoration of the independent institutions as a sounding original 1961 Kanvinde Parisila Bhawan board for government and for industry. building, will be completed in 2019. This Remarkably, for its time, NCAER major upgrading of NCAER’s physical was established in 1956 as a public- facility is part of a long-term expansion private partnership, both catering to plan to grow NCAER’s human, social, and supported by government and by systems, and financial capital. industry. NCAER’s first Governing Body NCAER’s research falls into four included the entire Cabinet of economics thematic areas: ministers and the leading lights of the private sector. These included names • Growth, macroeconomics, trade, finance, like C. D. Deshmukh, J.R.D. Tata, John and fiscal and monetary policy; Mathai, and Asoka Mehta. The Ford • The investment climate, industry, Foundation provided substantial, early infrastructure, domestic finance, labour, financial support, combined with support land, and urban; from the Finance Ministry and Tata Sons. • Agriculture, natural resource management, and the environment; and Over more than six decades, NCAER’s • Poverty, human development, equity, Governing Body has included almost gender, and consumer behaviour. every prominent Indian economist and industrialist, including Dr Manmohan NCAER faculty generate and analyse Singh as a member during 1976–82, and empirical evidence to support and Ratan Tata as President during 1994–98. inform public policy choices in these areas. NCAER’s core strengths in Designed in the late 1950’s by the primary data collection provide a strong highly-regarded, Harvard-trained foundation for its work. In late 2017, architect, A. P. Kanvinde, NCAER’s NCAER took a major step forward in iconic campus located in the heart of this direction with the establishment of New Delhi has been home to some of the the NCAER Centre for Data Innovation. best economists, statisticians, journalists, NCAER hosts the annual India Policy and corporate minds of India. On July th Forum (IPF, now in its 16 year) and 27, 2013, Prime Minister Dr Manmohan the Neemrana Conference (celebrating Singh laid the foundation stone for the th its 20 anniversary in 2018). The IPF new NCAER India Centre (NIC). NCAER ANNUAL REPORt 2017–18 iii proceedings are published as the annual by Mr Nandan M. Nilekani, the creator India Policy Forum, one of the highest of Aadhar and the former Chairman of citations-ranked economics journals out the Unique Identification Authority of of India. NCAER also publishes the India, co-founder and former CEO of quarterly, refereed, international journal Infosys Ltd, and now the Non-executive Margin: The Journal of Applied Economic Chairman of the Infosys Board. NCAER Research, in continuous publication for has been led since May 2011 by its ninth over five decades. NCAER regularly Director-General, Dr Shekhar Shah, who brings expertise, evidence, and informed joined NCAER from the World Bank debate to the public discussion of where he was last the Bank’s Regional important policy choices with its Economic Adviser for South Asia. numerous outreach and public policy events. NCAER is an increasingly networked institution with a growing number of NCAER researchers pursue a mix overseas and domestic non-resident of their own and bespoke research researchers. NCAER maintains extensive for governments and industry. This links in India and outside with major is supported by long-term research think tanks and universities, including grants from international and national NBER, the Chicago Council on Global donors, core support, contract research Affairs, the Brookings Institution, the and income from NCAER’s small University of Michigan, the University but rapidly growing endowment. A of Maryland, Columbia University, substantial portion of NCAER’s bespoke Stanford University, the London School research is supported by central and state of Economics, Oxford University, governments and industry. NCAER Australian National University, Monash is among the two largest members University, and the Asia Global Institute worldwide of the Think Tank Initiative, in Hong Kong. NCAER’s links in covering 43 policy research institutions South Asia include almost all the major in 20 countries receiving competitive economic think tanks in the region. core funding from an international donor consortium. For further details please visit www.ncaer.org NCAER’s Governing Body is headed The new buildings of the NCAER India Centre. iv NCAER ANNUAL REPORt 2017–18 Contents NCAER | Quality . Relevance . Impact iii The Institution 1 Governing Body 1 Founding Governing Body Members in 1956 2 General Body 2 Director-General’s Message 5 Activities 13 NCAER Events 13 NCAER Research Programme 25 NCAER Publications 49 NCAER Research Staff Activities 61 Staff and Resources 87 The NCAER Team 87 NCAER Library and Information Services 93 NCAER Finance 95 NCAER Human Resources 96 NCAER Publications 97 NCAER Information Technology 98 NCAER General Services 100 NCAER Accounts 101 Abbreviations and Acronyms 124 NCAER ANNUAL REPORt 2017–18 v The NCAER India Centre at various stages of its construction. vi NCAER ANNUAL REPORt 2017–18 The Institution Governing Body The Governing Body of NCAER, headed by its President, includes prominent persons from government, industry and academia, and is elected by the General Body of NCAER. The Chief Executive of NCAER is its Director-General. The General Body, which includes all members of the Governing Body, representatives from the central government, public sector corporations, corporate houses, other institutions, and individuals. The Governing Body met twice during 2017–18, on August 9, 2017 and on March 17, 2018. The General Body met on August 9, 2017. President Nandan M. Nilekani Non-executive Chairman of Infosys Ltd, Bengaluru, former Chairman, Unique Identification Authority of India, New Delhi, and co-founder and former CEO, Infosys Vice-President M. S. Verma Former Chairman, Telecom Regulatory Authority of India, New Delhi, and State Bank of India, Mumbai Members Mukesh D. Ambani Chairman, Reliance Industries Limited, Mumbai Surjit S. Bhalla Member, Prime Minister’s Economic Advisory Council, New Delhi Shaktikanta Das Secretary, Economic Affairs, Ministry of Finance, New Delhi (until May 2017) Yogesh C. Deveshwar Chairman, ITC Limited, Kolkata Ashish Dhawan Founder and Chairman, Central Square Foundation, New Delhi Subhash C. Garg Secretary, Economic Affairs, Ministry of Finance, New Delhi (from July 2017) Deepak S. Parekh Chairman, HDFC Limited, Mumbai Rajendra S. Pawar Co-founder and Chairman, NIIT Group, New Delhi Shekhar Shah Director-General, NCAER, New Delhi Secretary Anil K. Sharma Senior Fellow and Head of Operations, NCAER, New Delhi NCAER ANNUAL REPORt 2017–18 1 Founding Governing Body Members in 1956 John Mathai J.R.D. Tata Chairman, State Bank of India Chairman, Tata Industries Ltd C.D. Deshmukh Asoka Mehta Union Minister of Finance Member of Parliament T.T. Krishnamachari J.F. Sinclair Union Minister of Commerce and Industry General Manager, Burmah-Shell Oil Storage and Distributing Co. of India Ltd V.T. Krishnamachari Deputy Chairman, Planning Commission N.R. Pillai Secretary-General, Ministry of External Affairs General Body Life Members Donor Members Bimal Jalan Bata India Ltd Subir Gupta DCL Polyesters Ltd D.N. Patodia ICICI Bank Ltd State Bank of India New Zealand High Commission, New Delhi Institutional and Corporate Members 1. ASA & Associates LLP 8. Kotak Mahindra Bank Ltd 2. Associated Chambers of Commerce 9. National Dairy Development Board and Industry of India 10. National Stock Exchange of India 3. Bharat Forge Ltd Ltd 4. Central Board of Excise and Customs 11. NIIT Ltd 5. CESC Ltd 12. Orient Paper and Industries Ltd 6. Godrej and Boyce Manufacturing 13. Reliance Industries Ltd Company Ltd 14. Sakthi Sugars Ltd 7. ILFS Ltd 15. Triveni Engineering and Industries Ltd Ordinary Members 1. Agarwal Maheswari & Company 3. Martin & Harris (P) Ltd 2. EPW Research Foundation 4. SidhoMal Paper Conversion Co. (P) Ltd 2 NCAER ANNUAL REPORt 2017–18 The almost finished Phase 1 of the NCAER India Centre. NCAER ANNUAL REPORt 2017–18 3 Governing Body Members at NCAER. 4 NCAER ANNUAL REPORt 2017–18 Director-General’s Message By any measure, 2017-18 was an eroded. Furthermore, advances just in the eventful year at NCAER, with much past decade in statistical methodologies, achieved and much yet to be done. My integration of survey and administrative greatest thanks, as always, go to NCAER data, digital technology, geospatial faculty and staff for their consistent imagery, connectivity, and big data hard work and their commitment to analytics offer immense opportunities to NCAER’s mission, and to NCAER’s build on India’s statistical architecture Governing Body for its guidance in for collecting, analysing, and distributing implementing NCAER’s growth strategy.