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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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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...
Persistent link: https://www.econbiz.de/10012975288
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...
Persistent link: https://www.econbiz.de/10012552143
The implementation of Fiscal Responsibility and Budgetary Management (FRBM) Act led to a conflicting trade-off between fiscal discipline and social sector spending. The scenario was expected to be even worse at the state level, given the imbalance between responsibilities and revenue of the...
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