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Improving Public Financial Management in India: Opportunities to Move Forward

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  • Jena, Pratap Ranjan

    () (National Institute of Public Finance and Policy)

Abstract

In recent years the role of a sound PFM system to achieve the objectives of fiscal discipline, strategic planning, and improved service delivery has been getting increasing public attention in India. Since public financial management reforms undertaken intermittently over the years, have not delivered anticipated results in these areas, studies and recommendations of Government appointed committees and expert bodies have identified gaps that need attention to strengthen the PFM institutional framework and to improve the efficiency of government spending. This paper examines key PFM reform measures undertaken in India over the past few years and provides suggestions to enhance the effectiveness of these PFM systems.

Suggested Citation

  • Jena, Pratap Ranjan, 2013. "Improving Public Financial Management in India: Opportunities to Move Forward," Working Papers 13/123, National Institute of Public Finance and Policy.
  • Handle: RePEc:npf:wpaper:13/123 Note: Working Paper 123, 2013
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    References listed on IDEAS

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    1. Gian Maria Milesi-Ferretti, 1997. "Fiscal Rules and the Budget Process," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, pages 5-40.
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    4. Alan J. Auerbach, 2008. "Federal Budget Rules: The US Experience," NBER Working Papers 14288, National Bureau of Economic Research, Inc.
    5. Tapsoba, René, 2012. "Do National Numerical Fiscal Rules really shape fiscal behaviours in developing countries? A treatment effect evaluation," Economic Modelling, Elsevier, vol. 29(4), pages 1356-1369.
    6. Lane, Philip R., 2003. "The cyclical behaviour of fiscal policy: evidence from the OECD," Journal of Public Economics, Elsevier, pages 2661-2675.
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    8. George Kopits, 2001. "Fiscal Rules; Useful Policy Framework or Unnecessary Ornament?," IMF Working Papers 01/145, International Monetary Fund.
    9. M. Govinda Rao & Pinaki Chakraborty, 2006. "Multilateral adjustment lending to states in India: Hastening fiscal correction or softening the budget constraint?," The Journal of International Trade & Economic Development, Taylor & Francis Journals, pages 335-357.
    10. Kevin H. O'Rourke, 2002. "Europe and the causes of globalization, 1790 to 2000," CEG Working Papers 20021, Trinity College Dublin, Department of Economics.
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    More about this item

    Keywords

    Public financial management ; Budgeting system ; Performance budgeting ; Fiscal rules ; Audit ; Accounting;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration

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