The India Public Finance and Policy Report (IPFPR) is a flagship endeavour of the Centre for Training and Research in Public Finance and Policy (CTRPFP). The report will be published every two years. It is unique in its objective which is to showcase contemporaneous issues in public finance and public policy from a national and a global perspective. The IPFPR is non-technical, reader-friendly, and is aimed at a broad range of audiences, from academics to policy makers. The inaugural volume “Fiscal Issues and Macro Economy” to be published in 2016, presents a comprehensive survey of fiscal policies in India from post-Independence period up to present times and discusses a range of contemporary issues on fiscal policies and its implications for the economy. It discusses issues like the current fiscal performance of the different states, impact of demography on issues related to public finance and public economics, and interdependencies of fiscal policies across South Asian countries, assessing the fiscal performance of states using a CTRPFP-constructed fiscal index. The IPFPR also provides a detailed statistical appendix on various facets of the Indian economy. Some of these tables will be updated in subsequent reports. The IPFPR will not only be beneficial to policy makers but also to students and researchers who are seeking to get an in-depth understanding of the fiscal policy of an emerging economy.