Prof. Asit Ranjan Mohanty

  Professor, Finance
  Chair Professor : Center of Excellence in Fiscal Policy and Taxation (CEFT)
  School: Xavier Institute of Management (XIMB)
  Phone:0674-6647995, 9438669607
  Email:asit.mohanty@ximb.ac.in
  Home Page:

Educational Qualifications

Ph.D in Banking Risk Managemen,
MPhil in International Trade( JNU),
MA in Economics
Fellow UGC,
CAIIB,
Diploma in Risk Management


Teaching Interests

Financial Market & Instruments, Commercial Banking, Asset Liability Management, Credit risk Rating Models, Basel and Risk Management in Commercial Banks, Banking Regulation & Compliance, Credit Risk measurement, Capital Management of Banks, Public Financial Management, Public Private Partnership Models. Energy Risk Management, Econometric & Time Series Analysis, Fiscal Analysis & Forecasting

Research Interests

Good and Services Tax, Fiscal Sustainability, Fiscal Federalism, State Finance, Fiscal Risk Analysis, Forecasting of Revenue & Sector wise Expenditure Management at State Level, non Tax Revenue, Public Debt, Government Budget Formulation & Good Budgeting Practices, Budget Analysis at State level, Financial Market, Commercial Banking, Basel Norms and Risk Management, Asset Liability Management, Efficiency measurement and performance analysis of Electricity Distribution Sector, Tax Effort analysis of State Governments, Public Financial Management, sub National Finance at Local Self Government, Rating of Municipalities Bonds, Budget credibility, Efficiency Analysis of Public Expenditure, Multi Year Expenditure Framework,Gender & Child Budgeting

Administrative Responsibilities

Chair Professor of Centre of Excellence in Fiscal Policy & Taxation

Member in Editorial Board

Member in Editorial Committee in Eighty Years of Odisha Budget : Commemorative Volume, Published by Government of Odisha : 2018

Other Membership

Member of Indian Econometric Society
Basel Compliance Professionals Association
Member of Global Association of Risk Professionals(GARP)
Member of Indian Economic Association
Member of Institute of Banking & Finance(IIBF)

Research & Publications

# Journal

2020, JOURNAL: Threshold level of fiscal deficit: Revisiting FRBMA limit in Indian States, Vol 22, Issue 1, June 2020

2019, JOURNAL: Central Transfer a Curse or Blessing? Evidence from the Relative Revenue Effort of Indian States, Australian Economic Review : vol. 00, no. 00, pp. 1–14

2019, JOURNAL: New evidence on the relationship between public and private investment in India, Economics Bulletin Volume 39, Issue 3

2019, JOURNAL: Has FRBM rule influenced fiscal deficit-growth nexus differently in India?, Macroeconomics and Finance in Emerging Market Economies:vol 12, pp : 1-13

2018, JOURNAL: An Empirical Analysis of Aggregate Import Demand Function for India, Global Economy Journal,20170049, Vol 17, Isuue 4

2018, JOURNAL: Determinants of Non-Performing Loans in India: A System GMM Panel Approach, Prajnan, Vol. XLVII, No. 1, 2018-19

2017, JOURNAL: The Nexus between Fiscal Decentralization and Economic Growth: Evidence from Sub-National Governments in India, Volume II Issue I/January 2017,pp: 1-4

2017, JOURNAL: State Level Power Sector Reforms in India, Journal of Harmonized Research in Managment,3(1),2017,pp:08-24

2017, JOURNAL: Fiscal Performance Index of the States in India, Prajnan: Vol.XLV,NO: 3, 2016-17, pp247-266

2017, JOURNAL: Causal Nexus between Billing Efficiency and Economic Growth in India: An Analysis Using Vector Autoregression, International Journal of Economics and Finance,Vol. 9, No. 3, Mar. 2017

2017, JOURNAL: Cointegration between Government Expenditure and Revenue: Evidence from India , Advances in Economics and Business 5(1): 33-40, 2017 ,pp:33-40

2017, JOURNAL: Is Fiscal Policy Pro-Cyclical or Counter Cyclical? Evidence from India, Arthshastra Indian journal of Economics and Research, Vol:6, Issue: 2, pp: 7-19

2017, JOURNAL: Efficiency in Value Added Tax in Sub-National Governments in India: An Empirical Analysis, pp. 1-19

2016, JOURNAL: Revisting the Financial Year in India, Archives of Business Research – Vol.4, No.6, pp: 45-57

2016, JOURNAL: AN EMPIRICAL ANALYSIS OF EFFECT OF PUBLIC DEBT ON ECONOMIC GROWTH IN INDIA IN THE POST-REFORM ERA, Asian Economic and Financial Review ISSN(e): 2222-6737/ISSN(p): 2305-2147

2016, JOURNAL: Impact of Public Debt on Economic Growth: Evidence from Indian States, Vilakshan,Vol 13, No 2, pp:1-21

2016, JOURNAL: BANK CREDIT AND ECONOMIC GROWTH: AN EMPIRICAL EVIDENCE FROM INDIAN STATES, International Journal of Current Research Vol. 8, Issue, 09, pp.39145-39151, September, 2016 ,pp:39145-39151

2016, JOURNAL: Fiscal Landscape of Odisha: An analysis Deficits and Expenditures Fiscal Landscape of Odisha: An analysis Deficits and ExpendituresFiscal Landscape of Odisha: An analysis Deficits and Expe, Vol. 6 Issue 12, December - 2016, pp. 1~20

2016, JOURNAL: Does the Union Budget 2016-17 reflect the True Spirit of Fiscal Federalism in India? , The International Journal of Social Sciences and Humanities Invention,Volume 3 Issue 9 [September 2016],pp:2758-2761

2016, JOURNAL: Impact of Non –Tax Revenue on Revenue Expenditure in Sub National Public Finance in Economic Sector, IOSR Journal of Economics and Finance (IOSR-JEF),Volume 7, Issue 5

2016, JOURNAL: THE LONG-RUN CAUSAL NEXUS BETWEEN EXPENDITURE IN SOCIAL SERVICES SECTOR AND ECONOMIC SERVICES SECTOR: A COMPARATIVE ANALYSIS BETWEEN NATIONAL AND SUB-NATIONAL GOVERNMENT, International Research Journal of Marketing and Economics Vol. 3, Issue 12, December 2016

2015, Journal: Relationship between Electricity Energy Consumption and GDP: Evidence from India,

2015, Journal: tate Level Expenditure Management Policy in India: An Empirical Analysis of Odisha State Finance,

2014, Journal: Causal Link Between Government Spending and Revenue: An Empirical Analysis on Odisha State Finance,

2014, Journal: Evolving Paradigms in Odidha State Finance: An Empirical Analysis,

2014, Journal: Power Sector Efficiency,

2014, Journal: Effectiveness in Management of State Finance: An Empirical Analysis for Odisha,

2013, Journal: Reforms in Vulnerable Power Distribution Sector in Odisha – BOT Model,

2013, Journal: Analysis of Electricity Distribution Efficiency in India,

2012, Journal: Sustainable Development of Fnancial System: The Application of Economic Capital Models for Strategic Management of Market and Operational Risk of Commercial Banks,

2012, Journal: ECONOMIC VAUE ADDITION: VALUE CREATION IN BANKING INDUSTRY IN INDIA,

2012, Journal: Risk Capital Modelling,

2011, Journal: Regulating Financial Conglomerates in India: Is a unified regulator an answer?,

2010, Journal: Provisioning of Rural Credit: an Indian Perspective ,

2010, Journal: A Bayesian Analysis of Total Factor Productivity Persistence ,

2009, Journal: Retail Assets Management in Indian Banking: Credit Marketing Model using Data Mining Approach ,

1996, Journal: India’s Trade Flows: An Empirical Analysis,

# Book

2018, Book: 80 years of Odisha Budget - A Commemorative Volume, Finance Department, Government of Odisha

2014, Book: Risk Management and Capital Measurement in Commercial Banks, Scholars Press, Germany

# Working Paper

2018, WorkingPaper: • Nonlinear Fiscal Deficit-Growth Nexus in India States: A Threshold Model Analysis, The Indian Econometric Society (TIES)

2018, WorkingPaper: Determinants of Non-Performing Loans in India: A System GMM Panel Approach, The Indian Econometric Society (TIES)

2012, WorkingPaper: Prediction of Recovery Rate and Loan Losses – Given Default of Financial Institutions, Odisha State Financial Corporation

Conference/Seminar

2020, Conference-Conducted (Chaired-Conducted): Mid career Program - X for OFS Cadres, Venue: XIMB, XIMB

2020, Conference-Attended (Keynote Speaker): Pre Budget Conference, Venue: Government of Odisha and CEFT, Govt. of Odisha

2019, Conference-Attended (Keynote Speaker): Odisha State Finance - Kaleidoscope, Venue: Gopabandhu Academy, Bhubaneswar, CEFT, Government of Odisha and UNICEF

2019, Seminars-Talks (Chaired-Conducted): Recommendation of the amount to be paid by the Government Company granted lease under section 17A (2A) & (2B) of MMDR Act, 1957”, Venue: Bhubaneswar, Finance Department, Steel & Mines Department and Industry Department of Government of Odisha

2019, Conference-Attended (Chaired-Conducted): Roadmap for PFM Reforms in Odisha, Venue: Government of Odisha and CEFT, IMF

2019, Seminars-Talks (Keynote Speaker): Fiscal Transparency, Venue: Government of Odisha and CEFT, IMF

2019, Conference-Attended (Keynote Speaker): PFM Reforms in Odisha and Budget Making Process, Venue: Government of Odisha and CEFT, IMF

2019, Conference-Attended (Keynote Speaker): State Government Debt Management Functions in Odisha, Venue: Bhubaneswar, Reserve Bank of India, Mumbai

2018, Seminars-Talks (Chaired-Conducted): Pre State Budget discussion : 2018-19, Venue: Bhubaneswar, Odisha Budget and Accountability Centre

2018, Conference-Attended (Chaired-Conducted): • Post State Budget discussion : 2017-18, Venue: Bhubaneswar, Odisha Budget and Accountability Centre

2018, Conference-Attended (Presenter): Risk Modelling and Basel III, Venue: Pune, NIBM, PUNE

2017, Seminars-Talks (Keynote Speaker): Unwrapping Resource Envelope: Analysis of Statge Budget 2017-18, Venue: Press Club, Bhubaneswar, CYSD,OTV and The Smaj

2017, Seminars-Talks (Chaired-Conducted): Post State Budget discussion : 2017-18, Venue: CYSD, Odisha Budget and Accountability Centre

2015, Seminars-Talks (Keynote Speaker): Implication of Goods and Services Tax, Venue: XIMB, Bhubaneswar, World Trade Centre

Training / Workshop / Faculty Development Program

2020, Training-Conducted: Mid career Program - IX for OFS Cadres, Venue: XIMB

2018, Training-Conducted: Mid Career Program, Venue: Xavier University

2018, Training-Attended: Credit Risk Modelling and Basel III, Venue: Pune

2017, Training-Attended: Deposit and Loan Pricing (Focus : MCLR and Basel III), Venue: Pune

Projects / Consultancy

2018, Tax Effort Index of States in India, Client: 15th Finance Commission, Government of India, Status: Completed

2014, Forcasting of Commercial Taxes FT 2014-15, Client: Commercial Tax Dept, Goo, Status: Completed

2013, Value Added Tax Reforms: A Stakeholders Perception, Client: Commercial Tax Department, Govt. of odisha, Status: Completed

2013, Training Need Analysis: Commercial Tax Department, Client: Commercial Tax Department, Govt. of odisha, Status: Completed

2013, Impact of WTO on Financial Services, Client: Govt.of Odisha, Status: Completed

2013, Rating Model for BOT Models in Distribution Sector, Client: OERC, Status: Completed

2013, Rating Model for VAT taxpayers, Client: Commercial Tax Department, Govt. of odisha, Status: Completed

2012, Financial Literacy, Client: SEBI, Status: Completed

Directorial / Advisory Position

Independent Director, Odisha State Finance Corporation,Odisha, cuttack,Duration: 7-2-2014 to

Chair Professor, Centre of Fiscal Policy and Taxation,Xavier University,Duration: 7-5-2015 to

Member, Editorial Committee on " Commemorative Volume on 80 Years Budgets in Odisha" , Government of Odisha,Government of Odisha,Duration: 1-6-2016 to Continuing

Member, Fifth Finance Commission, Government of Odisha,Government of Odisha,Duration: 5-5-2018 to Continuing

Independent Director, Central Electricity Supply Utility of Orissa - CESU,Odisha,Duration: 5-6-2017 to Continuing

Permanent Invitee to State Level Banking Committee (SLBC), Government of Odisha,Government of Odisha,Duration: 16-7-2016 to Till Date

Screening Committee Member , Planning & Convergence Department,Government of Odisha,Duration: 9-11-2018 to Till Date

Member of the Committee to recommend fee to be paid by Government Company granted lease u/s 17 (A) 2 (A) & 2(B)of MMDR Act, 1957 , Government of Odisha,Government of Odisha,Duration: 9-5-2019 to Till Date

# Work Experience

Work Experience ( 23 Years)
1. Professor(Finance) in XIMB (11 Years)
2. Functional Expert in Risk Management Division (Reveleus), Oracle Financial Services Ltd. ( 3 Years)
3. Senior Manager in Dena Bank in Risk Management Dept ( 2 Years)
4. Manager in Oriental Bank of Commerce in Risk Management Dept ( 1 Years)
5. Orissa Finance Service(OFS) in Govt. of Orissa ( 2 Years)
6. Manager in Asset Liability Division of IDBI ( 4 years)

# Hobbies

Sports, Listening to Music, Reading


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