Presenting India’s 2019 budget on July 5, Finance Minister Nirmala Sitharaman sketched out the Modi government’s vision of becoming a $5 trillion economy by 2024, almost doubling the country’s current gross domestic product (GDP) of $2.73 trillion. To achieve this ambitious goal, India plans to liberalize foreign direct investment (FDI) rules and tap international bond markets to fund its budget deficit. The latter is a risky enterprise and ensures exchange rate policy becomes a future battleground. However, India’s economic growth has been slowing over the past two quarters, and the government has limited options to raise funds domestically, forcing it to look at external foreign currency borrowing. The government is betting that external borrowing combined with FDI inflows will lead to greater domestic investment and thus higher growth.
Research Associate Yagyavalk Bhatt is a research associate in the Transport and Urban Infrastructure program. His ongoing research portfolio at KAPSARC covers… Yagyavalk Bhatt is a research associate in the Transport and Urban Infrastructure program. His ongoing research portfolio at KAPSARC covers various projects related to economic research and analysis. These include examining the cost-benefit of rail electrification in Saudi Arabia and the potential impact and cost-effectiveness of the supply- and demand-side policies on the adoption of fuel-efficient vehicles and associated energy demand in India. His work also includes electricity market integration within the GCC and wider MENA region. He has authored and contributed to numerous research papers and studies related to the transportation and electricity sectors. Yagyavalk has a master’s degree in renewable energy management and engineering and a bachelor’s degree in electronics and communication.
- Road Transport
- Plug-In Electric Vehicles
- Oil & Gas
- Renewable Energy
- Clean Energy Fuels
Publications See all Yagyavalk Bhatt’s publications
Presenting India’s 2019 budget on July 5, Finance Minister Nirmala Sitharaman sketched out the Modi…29th December 2021
Barriers to and Opportunities for Light-Duty Vehicle Electrification in India: Insights From a Survey of Experts
Presenting India’s 2019 budget on July 5, Finance Minister Nirmala Sitharaman sketched out the Modi…5th October 2021