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The paper presents the policymakers' perspective on the reforms undertaken to manage states' debt and ensure solvency. While the sustained high growth rates of the Indian economy played a part in alleviating the interest burden on debt and ensuring that the debt does not grow in an explosive...
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Over the past 25 years, India's economy grew at an average real rate of close to 6 percent, with growth rates in recent … India's gradual reforms. Similarly, the worsening of public finances during the late 1990s can be attributed to the …
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