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Fiscal Policy and Economic Reforms

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  • Y V Reddy

Abstract

The author has given practitioner’s perspective of fiscal policy, and economic reforms. Despite considerable improvement in the fiscal scenario, both at the centre and in the states, India’s combined fiscal deficit (centre and state), as a percentage of GDP, still continues to be one of the highest in the world. It is noteworthy that most of the risky elements were present in the Indian economy for several years, almost all through the reform period, and yet the economy exhibited macro-stability and impressive growth even while withstanding some significant domestic and global shocks. In view of this evidence, the author finds the need to explore the reasons for such risks not de-stabilising our economy so far; and the measures that are needed, in future, for insulating the economy from such destabilising effects, to the extent feasible.[NIPFP WP NO 2008 / 53]

Suggested Citation

  • Y V Reddy, 2009. "Fiscal Policy and Economic Reforms," Working Papers id:2066, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:2066
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    Keywords

    RBI; Fiscal reforms; economic policy; Fiscal and Monetary Management; Fiscal and Financial Markets; Fiscal and the External Sector;
    All these keywords.

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