This book extensively examines various contemporary macroeconomic themes of India, namely growth and macro policies, tax reforms, government finances and intergovernmental fiscal transfers, banking and monetary policy, and environment and social sector policies. It has three to six chapters...

This paper examines the fiscal sustainability of Indian States during the 1990s on the basis of their budgetary data. Sustainability has been discussed using the inter-temporal budget constraint framework and has been tested by applying the panel co-integration technique. The panel analysis...

The state of Haryana, an old success story of the green revolution in the country, continues to be a relatively high per capita income state. The fiscal position of Haryana has also been sound. But after the onset of the policy of liberalisation by the Government of India (GoI) in 1991-92, the...

The main objective of the study is to evaluate the Finnish central government’s foreign borrowing between the years 1862 and 1938. Most of this period was characterised by deep capital market integration that bears resemblance to the liberal world financial order at the turn of the millennium....

An attempt has been made to understand the factors leading to the worsening situation of the state finances. Investigations reveal that the revenue receipts of the state could not keep pace with expenditure requirements and therefore, led to the decline of its fiscal health. [Working Paper No. 34]

Serious deterioration in government fiscal finances in the late 1990s and early 2000s asked for prudent fiscal management. The fiscal deterioration of 1990s and 2000s led to elevated levels of debt liabilities at both the national and sub-national level. Uttar Pradesh (UP) fiscal position during...