This paper assesses recent theorising and empirical evidence on the impact of fiscal policy—taxes, public expenditures and budget deficits—on long-run growth. It considers the relevance of recent advances in growth theory for low-income countries and compares the evidence for...

Speech of Pranab Mukherjee Minister of Finance, India. [Budget Speech]. URL:[http://indiabudget.nic.in/ub2012-13/bs/bs.pdf].

The paper reviews India’s macroeconomic performance and policies since 2000. The first section briefly summarizes key macroeconomic developments regarding economic growth, inflation, external balance, the fiscal situation and aggregate savings and investment. The second section considers...

The study examines the impact of aggregate government expenditure and its two broader components such as revenue expenditure and capital expenditure on the growth rate of output in the Indian context along with other key potential determinants of economic growth such as trade openness and...

The Union Budget remains significant for the agricultural sector in the country for at least the following two reasons. First, the budget comes in the background of an agrarian crisis in the country, persistent since the late nineties, which also coincided with the period of a policy thrust on...

Budget Speech by Chidambaram.

The Growth outlook has weakened as a result of adverse global and domestic factors that have been mentioned above. Business and consumer confidence has been impacted. Professional forecasters now see a weaker growth in the economy. However, inflation and expectations of inflation remain high and...

The authors attempt to construct a monetary conditions index (MCI) for India in order to take both interest rate and exchange rate channels simultaneously into consideration while evaluating the stance of monetary policy and evolving monetary conditions. The paper also constructs a "broad" MCI...