There is a broad consensus that India's fiscal situation worsened over the 1990s due to a sharp rise in the revenue deficit, which in turn has raised interest rates, crowded out private investment and hindered growth. This article critiques this consensus view. It shows, using Domar arithmetic,...

The paper enlightens popular part of the budget policy - deficit finance. In the process of securing economic conditions to surpass the current economic crises, the governments all over the world incline towards debt deficit finance. The intention is to describe the implications such as...