Fiscal Policy in India: Lessons and Priorities

Univ California Santa Cruz: Dept of Economics Working Paper No. 555

45 Pages Posted: 9 Mar 2004

See all articles by Nirvikar Singh

Nirvikar Singh

University of California, Santa Cruz

T. N. Srinivasan

Yale University - Economic Growth Center; Stanford Center for International Development (SCID) - Stanford Institute for Economic Policy Research (SIEPR)

Date Written: February 17, 2004

Abstract

This paper assesses India's current fiscal situation, its likely future evolution, and impacts on the economy. We examine possible reforms of macroeconomic policy (including fiscal, monetary and exchange rate policy) and broader institutional reforms that will bear on the macroeconomic situation. We also consider the political feasibility of possible reforms. We examine both medium and longer run scenarios, and fiscal sustainability and adjustment going beyond conventional government budget deficits, to include off-budget liabilities, both actual and contingent. We conclude with our assessment of reforms focused on improving the fisc.

Suggested Citation

Singh, Nirvikar and Srinivasan, T. N., Fiscal Policy in India: Lessons and Priorities (February 17, 2004). Univ California Santa Cruz: Dept of Economics Working Paper No. 555. Available at SSRN: https://ssrn.com/abstract=509062 or http://dx.doi.org/10.2139/ssrn.509062

Nirvikar Singh (Contact Author)

University of California, Santa Cruz ( email )

Department of Economics
E2 Building
Santa Cruz, CA 95064
United States
831-459-4093 (Phone)
831-459-5077 (Fax)

T. N. Srinivasan

Yale University - Economic Growth Center ( email )

Box 208269
New Haven, CT 06520-8269
United States
203-432-3630 (Phone)
203-432-3635 (Fax)

Stanford Center for International Development (SCID) - Stanford Institute for Economic Policy Research (SIEPR)

Stanford, CA 94305
United States

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