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...

This ILO flagship report: (i) provides a global overview of the organisation of social protection systems, their coverage and benefits, as well as public expenditures on social security; (ii) following a life-cycle approach, presents social protection for children, for women and men of working...

An important method of managing resources to finance consistent and balanced human development lies in the reprioritisation of current expenditure in accordance with the urgent needs and shortfalls in particular areas. Such reprioritisation should also lead the states to a better macroeconomic...

This essay examines the trajectory of India?s fiscal policy with a focus on historical trends, fiscal discipline frameworks, fiscal responses to the global financial crisis and subsequent return to a fiscal consolidation path. [Ministry of Finance WP]....

The FRBM Act was reflective of the shared commitment across political parties towards fiscal conservatism. A decade later, the picture, as reflected in the Union Budget, is yet to change for the better. And given the interests that the current Government represents, a real departure from the...

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...

Budget speech 2011-2012 by Pranab Mukherjee.

The need for fiscal consolidation and sustainability is one of the key macroeconomic issues confronting Indian economy. This paper attempts to understand India’s current fiscal situation, its likely future development, and its impact on the economy in the context of a weak global recovery...