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The prime focus of Union budget 2019 would be the need to strengthen economic growth. A deviation from the path of fiscal consolidation may be essential to spur growth. A strict adherence of threshold fiscal deficit ratio of the GDP may not be feasible at this point as more …
Some medium-term fiscal arithmetic
07/06/2019
A medium-term macro-fiscal exercise will make clear the analytical choices and trade-offs that the government faces.
There is little doubt that the central government is constrained for fiscal space and it is, therefore, important to think about solutions going forward. I offer a medium-term macro-fiscal …
Challenges to Indian Fiscal Federalism
03/05/2019
Countries are organized either as “Unitary ” (France) or as “Federations” (India, Brazil, the United States). In the first group, a national, or a central, government, makes the economic decisions for the whole country’s territory. In the second group, a Constitution has generally assigned various government’s economic functions between …
A common economic programme for India
03/05/2019
The economic programme of any party or coalition that is serious about transforming India must be underpinned by four economic objectives.
A development transformation involves progress on many fronts, but there can be no transformation without high, stable, and inclusive economic growth. The economic programme …
The book titled “Indian Fiscal Federalism” co-authored by Y V Reddy and G R Reddy is written from a “practioner’s perspective”. The simplicity of this book is appealing, especially when the content of the book is about a very complex set of rules and games between the Centre and …