Submission Guidelines
1. Why do we say some words/concepts/meanings/definitions are unique to India context
Some terms we use commonly ( panchayat, lakh, crore, Planning Commission etc.) may be very clear to us but because they are either indigeneous concepts or institutions, they may not be understood by the international community or by non-government economists. Some terms ( eg PPP, inclusive growth etc.) may be used all over the world but what we understand in the Indian context may be different from what is understood from text books/international websites like IMF etc.
2. What is the test to determine that the word/concept /meaning is Unique to India?
Has the term been defined in any reputed economics dictionary or in the glossary of any publication of UN/IMF organizations? Does the term have the same connotation as the one used in Indian Government policy making? If not , it could be included.
3. Why should we define them, the world is understanding those words/ concepts / meaning until now with out asking for clarification?
We see ourselves as among the pioneers in increasing transparency in government and in increasing professionalism among ourselves.
4. Being a contributor, how can I identify a word and start writing about it?
You can either choose from the request list that is appearing on the website or you can look at various chapters of the Economy Survey /11th Plan document/your own Ministry’s Annual report) and select terms.
5. What if someone else is also writing on the same word/concept? Do you avoid duplication or do you synthesis inputs from both the team members?
This is a collaborative exercise of all IES officers. When an officer’s contribution is accepted by the editorial board, it is uploaded. Subsequently if any other officer contributes additional information, the board will consider it and suitably incorporate it by requesting an Assistant Editor to draft out the additional information in such a way that it reads well with the original contribution.
6. Does team of editors set me a time line for my inputs? If so how and by when do we know the time line?
The Editorial Board will send you the feedback / request by email for further clarification within two working days of submission.
7. What if those words/concept have already been defined by other agencies like RBI, CAG, IMF, ADB, OECD, WB, Paris Club, IRDA, PFRDA, SEBI, and Certain Indian Laws but our definition are found to be different from those words? How to show the variation and sources of variation?
Please see answer to Q 2. How we show the variation and how to indicate sources will be evolved shortly by us as a group.
8. If there are any words/concepts that can be illustrated with examples or calculations can I do so?
Yes , this will bring greater clarity in understanding the concept.
9. Don’t we need to indicate the documents/policies in which these words are frequently used?
This would be ideal. Citations have to be given at the end of the write-up
10. How do team members communicate with Editors - on a one to one basis or a group mail?
This is a democratic group and a group emails are encouraged. However, there is no bar on one to one mails either if a member wants to first clarify something with anyone before posting it to the group. To contact Editorial Board please mail to....
11. How do we ensure consistency between the inputs being given by various team members, particularly those words which have a bearing on other words?
This will be taken care of by the person who has originally contributed with the help of the editorial board.
12. How the credit will be given to contributors?
A link will appear against your contribution which takes one to the profile page of yours in the IES Database.
13. How can the contributors upgrade the quality and presentation of their inputs, as they come across more and more information on the concepts/words already approved by editorial team.
You can further edit on your own document.
14. What should I care for while writing on the concept?
The Users of this Arthapedia are spread across the world and engaged in varied professions. They could be general readers, policymakers, journalists, economist, researchers, critics, officials and diplomats. This underscores the point that one user/reader, while reading the contents is influenced by his/her professional objective, perspective and language as used in his respective country and profession. Hence the content, style of language and vocabulary used has to be precise.
Writers should respect each other while editing / adding to the content of the concepts and be polite to your fellow Arthapedians, even when you disagree.
15. How should I write on a concept?
- Arranging in Sections facilitates standardised approach and enables authors not to miss any point as much as help readers to navigate better.
- If any inputs/information is not available, that is not a constraint; rather it is an opportunity to invite knowledgeable people from that domain to fill up information gaps.
- It must be possible for readers to verify all content against credible external sources. Hence give citations and references.
- If possible you can insert graphs / pictures to explain the concept.
An example is given below
Market Stabilization Scheme (MSS)
Section 1
Concept and its origin i.e., the policy and legal framework within which the concept originated.
The Scheme came into existence following a MoU between the Reserve Bank of India (RBI) and the Government of India (GoI) with the primary aim of aiding the sterilization operations of the RBI.
Section 2
Meaning or definition or explanation
Historically, the RBI had been sterilizing the effects of significant capital inflows on domestic liquidity by offloading parts of the stock of Government Securities held by it. It is pertinent to recall, in this context, that the assets side of the RBI’s Balance Sheet (July 1, to June 30) includes Foreign Exchange Reserves and Government Securities while liabilities are primarily in the form of High Powered Money (consisting of Currency with the public and Reserves held in the RBI by the Banking System). Thus, any rise in Foreign Exchange Reserves resulting from the intervention of the RBI in the Foreign Exchange Markets (with the intention, say, to maintain the exchange rate on the face of huge capital inflows) entails a corresponding rise in High Powered Money. The Money Supply in the economy is linked to High Powered Money via the money multiplier. Therefore, on the face of large capital inflows, to keep the liabilities side constant so as to not raise the Supply of Money, corresponding reduction in the stock of Government Securities by the RBI is necessary.
The securities issued under MSS, termed as Market Stabilization Scheme (MSS) Securities/Bonds, are issued by way of auctions conducted by the RBI and are done according to a specified ceiling mutually agreed upon by the GoI and the RBI. They possess all the attributes of existing Treasury-Bills/Dated Securities and are included as a part of the country’s ‘internal Central Government debt’.
Treasury-Bills/Securities issued under MSS are matched by equivalent cash balances that are held by the Government with the RBI. Therefore, the impact of issuance of such Securities on the fiscal deficit is limited only to the extent of interest payments on such Bills/Securities outstanding. Such payments are not made from the MSS account just as receipts due to premium or accrued interest on these Securities are not credited to it.
As and when MSS securities are issued by the RBI as well as the annual ceiling, when decided, is notified through a press release. For the fiscal year 2010-11 the annual ceiling for such securities outstanding stand at Rs. 50,000 crore, with a review due when the outstanding reaches the threshold of Rs. 35,000 crore.
Section 3
Concept, its history and the context in which it is used in Indian Economic policy domain
The MSS was devised since continuous resort to sterilization by the RBI depleted its limited stock of Government Securities and impaired the scope for similar interventions in the future. Under this scheme, the GoI borrows from the RBI (such borrowing being additional to its normal borrowing requirements) and issues Treasury-Bills/Dated Securities that are utilized for absorbing excess liquidity from the market. Therefore, the MSS constitutes an arrangement aiding in liquidity absorption, in keeping with the overall monetary policy stance of the RBI, alongside tools like the Liquidity Adjustment Facility (LAF) and Open Market Operations (OMO).
The amount raised under the MSS does not get credited to the Government Account but is maintained in a separate cash account with the RBI and are used only for the purpose of redemption/buy back of Treasury-Bills/Dated Securities issued under the scheme. In this sense, the MSS can be categorized as a sinking fund.
However, following the global financial crisis of 2008, that necessitated fiscal stimulus measures, an amendment to the original MoU between the RBI and the GoI in February 2009 allowed the Government to convert a portion (equivalent to Rs. 45,000 crore) of the MSS funds into normal government borrowing for financing its stimulus expenditure requirements.
Section 4
Graphs, data Tables, Data source, references, and suggested reading
http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=9886
Section 5
Name(s) of the contributor(s), email id and hyperlink to his her one page CV; and a passport size picture.
