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Sustainability of Public Debt in India: An Assessment in the Context of Fiscal Rules
The present paper assesses the sustainability of India’s public debt within the fiscal rule framework.
Section 1 reviews the literature on sustainability in general as well as in the Indian context. Section 2 deals with the fiscal rules adopted in India against the backdrop of international experience. Section 3 presents an overview of the fiscal situation in India during the reform period. Analytical framework to assess sustainability is presented in Section 4. Section 5 sets out the assessment of fiscal sustainability. The policy recommendations are presented in Section 6. Section 7 concludes.
Section 1 reviews the literature on sustainability in general as well as in the Indian context. Section 2 deals with the fiscal rules adopted in India against the backdrop of international experience. Section 3 presents an overview of the fiscal situation in India during the reform period. Analytical framework to assess sustainability is presented in Section 4. Section 5 sets out the assessment of fiscal sustainability. The policy recommendations are presented in Section 6. Section 7 concludes.