This paper explores the social inclusiveness of agricultural extension services in India. We estimate the probability and frequency of farmers’ access to extension services and resulting changes in crop income across different caste groups. The literature suggests that caste-based social segregation manifests in various spheres of life, and perpetuates economic inequality and oppression. An econometric analysis of nationally-representative data from rural India verifies this with respect to the agricultural sector. Farmers belonging to the socially-marginalized castes are found to have a lower chance of accessing the public extension services, primarily due to their inferior resource-endowment status. Contacting extension agents at least once increased the average annual crop income by about 12 thousand Indian rupees per household, which is equivalent to 36% of the annual crop income of those without access to extension services. There exists significant impact heterogeneity. Farmers from the socially-marginalized castes hardly benefited from accessing the extension services. Based on these observations, we have developed a number of policy recommendations that could improve the social inclusiveness of agricultural development strategies in rural India.

This study examines the long-run and short-run relationship between investment in infrastructure and economic growth in the Indian economy by using Auto Regressive Distributed Lag Model, Error Correction Model, and Granger Causality Test. The study reports that there is no short-run relationship among gross domestic product, gross domestic capital formation, revenue of the governmentand exports. However, the study finds that unidirectional causality exists between employment and gross domestic product; gross domestic productandinflation. It implies that employmentlevel in organised sector and inflationinfluence the economic growth in India for a short period. The study finds that there is a long-run relation exists between economic growth, domestic investment, inflation and government revenue. Therefore, emphasis should be placed on capital formation, government income and inflation to accelerate growth and development in the Indian economy. The error correction term is indicating that long term relationship is stable and any disequilibrium created in short termwill be temporary and will correct over a period. However, it is suggested to maintain balance among inflation,gross domestic product, employment, exports, savings, investment and government revenue to keep an economy growing. These findings have important policy implications since an economy built on investment in infrastructural development.

This paper investigates the livelihood vulnerability experienced by agricultural households in Kuttanad, a below sea level farming system in southern India, in the aftermath of a major flood in August 2018. For this purpose, we constructed a flood coping strategy index (FCSI), to measure coping strategy intensity, using the data on the severity and frequency of various coping strategies adopted by households. Furthermore, we estimated a Tobit regression model to identify the factors influencing the intensity of coping strategy choices. The FCSI revealed that only two per cent of agricultural households experienced a ‘severe’ level of vulnerability because of the quick and effective policy response of the Kerala state government. In addition, Tobit regression analysis indicated that female‐headed and labour households are more vulnerable than their respective counterparts. While income exerts a negative influence on the degree of livelihood vulnerability, agricultural landholding has a positive effect, as it increases cultivation loss during a flood.

The recent economic crises caution us that a better understanding of the "financial cycle" is important in designing the right policy measures to tame the financial and macroeconomic instability. This study is an attempt to characterize the financial cycles in India and understand it's linkage with the business cycles during the period from 1990q1 to 2019q4. First, this study derived an aggregate measure of financial cycle from the low frequency component of the credit and equity price cycle decomposed using discrete wavelet transformation method. Next, turning point analysis is performed to characterize the stylized facts of the financial cycles in India.Lastly, Toda-Yamotto causality test is performed to understand the linkage between the financial and business cycles in India. The analysis confirmed presence of financial cycles in India with the average duration of 12 years and expansion and contraction lasting 6 years. The causality test provided significant evidence for a causal relationship running from financial cycle to business cycles in India. These findings point to the need for a carefully designed macroeconomic policy with macro-prudential orientation to achieve financial and macroeconomic stability in India.