Is India’s Federal Debt Sustainable? - Revisiting an Old Debate

That India faces a ‘fiscal crisis’ has been a recurrent refrain of the literature on India’s economic reforms. Indeed a central objective of the reforms process, one that has proved elusive so far, is the reduction in the fiscal deficit of the central government. The supposed intractability of the fiscal problem has provided the motivation for the passage of the Fiscal Responsibility and Budget Management Act in 2003 that commits the government to targets for the fiscal and revenue deficits. We revisit the proposition that India’s debt problem is unsustainable in light of the recently changed outlook for growth and interest rates. Using a decomposition model, we separate out the effects on the fiscal deficit of growth and government behaviour in the past. We find that if recent government behaviour were to continue, the Indian economy would to achieve a growth rate of 6.5 per cent in the coming years, something that seems eminently achievable. Next, positing a nominal growth rate of 11 per cent (or a real growth rate of 6.1 per cent) in the coming years and making suitable assumptions about revenue buoyancy and other receipts, we empirically estimate the growth in primary expenditure that would be permissible. We find that no deceleration in primary expenditure is required if we assume a revenue buoyancy of 1 or above. We compare our optimistic projections with the sombre estimates of the Kelkar Task Force and find that our estimates differ from KTF’s because the KTF report postulates much higher levels of debt than we do. Clearly, we need a consensus on what India’s debt position today is. Nevertheless, our analysis does suggest that assessments of the sustainability of India’s debt have not adequately factored in the changed outlook for growth and interest rates.

Superexchange Interaction in Insulating EuZn2_{2}P2_{2}

We report magnetic and transport properties of single-crystalline EuZn$_{2}$P$_{2}$, which has trigonal CaAl$_2$Si$_2$-type crystal structure and orders antiferromagnetically at $\approx$23~K. Easy $ab$-plane magneto-crystalline anisotropy was confirmed from the magnetization isotherms, measured with a magnetic field applied along different crystallographic directions ($ab$-plane and $c$-axis). Positive Curie-Weiss temperature indicates dominating ferromagnetic correlations. Electrical resistivity displays insulating behavior with a band-gap of $\approx\,$0.177~eV, which decreases to $\approx\,$0.13~eV upon application of a high magnetic field. We explained the intriguing presence of magnetic interactions in an intermetallic insulator by the mechanism of extended superexchange, with phosphorus as an anion mediator, which is further supported by our analysis of the charge and spin density distributions. We constructed the effective Heisenberg model, with exchange parameters derived from the \textit{ab initio} DFT calculations, and employed it in Monte-Carlo simulations, which correctly reproduced the experimental value of N\'eel temperature

Size, composition and distribution of health workforce in India: why, and where to invest?

BACKGROUND: Investment in human resources for health not only strengthens the health system, but also generates employment and contributes to economic growth. India can gain from enhanced investment in health workforce in multiple ways. This study in addition to presenting updated estimates on size and composition of health workforce, identifies areas of investment in health workforce in India. METHODS: We analyzed two sources of data: (i) National Health Workforce Account (NHWA) 2018 and (ii) Periodic Labour Force Survey 2017-2018 of the National Sample Survey Office (NSSO). Using the two sources, we collated comparable estimates of different categories of health workers in India, density of health workforce and skill-mix at the all India and state levels. RESULTS: The study estimated (from NHWA 2018) a total stock of 5.76 million health workers which included allopathic doctors (1.16 million), nurses/midwives (2.34 million), pharmacist (1.20 million), dentists (0.27 million), and traditional medical practitioner (AYUSH 0.79 million). However, the active health workforce size estimated (NSSO 2017-2018) is much lower (3.12 million) with allopathic doctors and nurses/midwives estimated as 0.80 million and 1.40 million, respectively. Stock density of doctor and nurses/midwives are 8.8 and 17.7, respectively, per 10,000 persons as per NHWA. However, active health workers' density (estimated from NSSO) of doctor and nurses/midwives are estimated to be 6.1 and 10.6, respectively. The numbers further drop to 5.0 and 6.0, respectively, after accounting for the adequate qualifications. All these estimates are well below the WHO threshold of 44.5 doctor, nurses and midwives per 10,000 population. The results reflected highly skewed distribution of health workforce across states, rural-urban and public-private sectors. A substantial proportion of active health worker were found not adequately qualified on the one hand and on the other more than 20% of qualified health professionals are not active in labor markets. CONCLUSION: India needs to invest in HRH for increasing the number of active health workers and also improve the skill-mix which requires investment in professional colleges and technical education. India also needs encouraging qualified health professionals to join the labor markets and additional trainings and skill building for already working but inadequately qualified health workers

The Hypolipidemic Activity of Metal Complexes of Amine Carboxyboranes in Rodents

The metal complexes of amine-carboxyborane including copper, chromium, zinc, calcium amd cobalt were effective hypolipidemic agents lowering both serum cholesterol and triglyceride levels significantly in mice at 8 mg/kg/day, I.P. after 16 days. The agents reduced acetyl CoA synthetase, ATP-dependent citrate lyase, acyl CoA cholesterol acyl transferase, sn-glycerol-3-phosphate acyl transferase activities of rat liver and small intestinal mucosa after 14 days treatment. The neutral cholesterol ester hydrolase activity was elevated by the agents in both tissues. The metal complexes altered lipid levels in the bile of rats after treatment as well as the bile acid composition after 14 days administration, orally. The agents blocked enterohepatic absorption of cholesterol from rat isolated intestinal loops

Molecular basis of arrhythmic substrate in ageing murine peroxisome proliferator-activated receptor γ co-activator deficient hearts modelling mitochondrial dysfunction.

INTRODUCTION: Ageing and chronic metabolic disorders are associated with mitochondrial dysfunction and cardiac pro-arrhythmic phenotypes which were recently attributed to slowed atrial and ventricular action potential (AP) conduction in peroxisome proliferator-activated receptor γ co-activator deficient (Pgc-1β-/-) mice. METHODS: We compared expression levels of voltage-gated Na+ channel (NaV1.5) and gap junction channels, Connexins 40 and 43 (Cx40 and Cx43) in the hearts of young and old, and wild-type (WT) and Pgc-1β-/- mice. This employed Western blotting (WB) for NaV1.5, Cx40 and Cx43 in atrial/ventricular tissue lysates, and immunofluorescence (IF) from Cx43 was explored in tissue sections. Results were analysed using two-way analysis of variance (ANOVA) for independent/interacting effects of age and genotype. RESULTS: In atria, increased age and Pgc-1β-/- genotype each independently decreased both Cx40 and Cx43 expression without interacting effects. In IF experiments, both age and Pgc-1β deletion independently reduced Cx43 expression. In ventricles, age and genotype exerted interacting effects in WB studies of NaV1.5 expression. Young Pgc-1β-/- then showed greater NaV1.5 expression than young WT ventricles. However, neither age nor Pgc-1β deletion affected Cx43 expression, independently or through interacting effects in both WB and IF studies. CONCLUSION: Similar pro-arrhythmic atrial/ventricular phenotypes arise in aged/Pgc-1β-/- from differing contributions of altered protein expression and functional effects that may arise from multiple acute mechanisms

Multifactorial Model and Treatment Approaches of Refractory Hypotension in a Patient Who Took an ACE Inhibitor the Day of Surgery

In the field of anesthesiology, there is wide debate on discontinuing angiotensin-converting enzyme inhibitor (ACEI) and angiotensin receptor blocker (ARB) therapy the day of noncardiac surgery. Although there have been many studies attributing perioperative hypotension to same-day ACEI and ARB use, there are many additional variables that play a role in perioperative hypotension. Additionally, restoring blood pressure in these patients presents a unique challenge to anesthesiologists. A case report is presented in which a patient took her ACEI the day of surgery and developed refractory hypotension during surgery. The evidence of ACEI use on the day of surgery and development of hypotension is reviewed, and additional variables that contributed to this hypotensive episode are discussed. Lastly, current challenges in restoring blood pressure are presented, and a basic model on treatment approaches for refractory hypotension in the setting of perioperative ACEI use is proposed

Coal tailings as a soil conditioner : evaluation of tailing properties and effect on tomato plants

The global coal industry yields a vast amount of tailings waste, and the utilisation of these tailings necessitates innovative eforts contributing to the United Nations Sustainable Development Goals. One of such novel initiatives is to reuse coal tailings (CT) safely, ecofriendly, and cost-efectively in agroecosystems as a soil conditioner to enhance the productivity of lands. This study aimed to evaluate the potential utilisation of coal tailings waste in the soil amelioration to improve plant performance. The physico–chemical characteristics of coal tailings from two Australian mining sites (CT1 and CT2) showed that the tailings samples are alkaline with loamy and loamy sand textures, respectively. The tailings have ~ 3% of macronutrients, high carbon (C), and low heavy metals and metalloids (As, Cd, Se, Cu, Zn, and Pb). The germination rate of tomato seeds was improved in the low-rate CT treatment. Greenhouse tomato plants exhibited an increase in leaf’s K, Ca, and Mg contents in CT1 and CT2 treatments. More importantly, the CT treatment-induced accumulation of heavy metals in plants was mostly insignifcant in both CT treatments. Therefore, we highlight the potential application of coal tailings as a soil conditioner because of the benefcial efect of improved carbon and nutrients (N, P, K, Mg, and Ca) in tomato leaves. Further amendment of the coal tailings should focus on the adjustment of pH and the addition of other benefcial materials for the improvement of soil properties for crops in both the greenhouse and the feld