In this issue of IPPR, Ashima Goyal's paper analyses issues important in adapting flexible inflation targeting (FIT) to emerging markets like India. The paper by Saon Ray, Piyali Majumder, Vasundhara Thakur, and Ayush Patel offers an assessment of the sectors that will be impacted most by India making a transition to a low carbon economy. Vivek Jadhav and Brinda Viswanathan investigate the extent to which 103 sub-state regions within 20 Indian states exhibit income convergence. In their paper, Shivakumar Jolad and Chaitanya Ravi call for a greater alignment of Western paternalistic frameworks with Indian socio-political context in understanding alcohol consumption and alcohol related government policies. Finally, Pranay Kotasthane writes a review article based on Dr. Govinda Rao's book Studies in Indian Public Finance.