From Prodigal To Prodigy
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From Prodigal To Prodigy by Jeremy Anderson
In India, the external payments crisis of 1991, which led to the initiation of economic reforms, was the result of deteriorating fiscal situation during the latter half of 1980s. Fiscal imbalance was identified as the underlying cause of the twin problems of inflation and the difficult balance of payments position. Hence, fiscal consolidation constituted a major objective of the policy response. This consolidation was planned through reduction in the size of budget deficit and public debt in relation to the India's Gross Domestic Product (GDP). For this purpose, it became necessary to: (a) enhance tax and non-tax revenue, (b) curtail current expenditure growth, (c) restructure public sector undertakings, including disinvestment, (d) improve fiscal-monetary co-ordination, and (e) deregulate financial system. The need for improvements in budgetary practices led to the enactment of India's Fiscal Responsibility and Budget Management (FRBM) Act 2003, which ushered the Indian economy into an era of fiscal consolidation based on fiscal policy rules. This book provides a vivid account and analysis of reforms in India's fiscal policy during the post-liberalization period (1991 onward).| SKU | Unavailable |
| ISBN 13 | 9780974623139 |
| ISBN 10 | 097462313X |
| Title | From Prodigal To Prodigy |
| Author | Jeremy Anderson |
| Condition | Unavailable |
| Binding Type | Paperback |
| Publisher | Distributed By Review And Herald Publishing |
| Number of pages | 120 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |