India's expansionary fiscal policy during the recent crisis resulted in higher government borrowing through 2008-09 and … severe challenge for the Reserve Bank of India (RBI) in meeting the public borrowing requirement without causing market … the signalling of monetary policy and its transmission. India's particular dilemma, however, was related to systemic …

macroeconomics, and in many countries, including India, has led to the scope of fiscal operations being expanded and debt …