IDEAS home Printed from https://ideas.repec.org/p/npf/wpaper/21-328.html

Macroeconomic Framework of Union Budget 2021-22: Reconsidering the Fiscal Rules

Author

Listed:
  • Chakraborty, Lekha

    (National Institute of Public Finance and Policy)

Abstract

Extraordinary times require extraordinary policy responses. Against the backdrop of macroeconomic uncertainty due to the CoVID-19 pandemic, the union finance minister has announced a high fiscal deficit of 9.5

Suggested Citation

  • Chakraborty, Lekha, 2021. "Macroeconomic Framework of Union Budget 2021-22: Reconsidering the Fiscal Rules," Working Papers 21/328, National Institute of Public Finance and Policy.
    • Handle: RePEc:npf:wpaper:21/328
    Note: Working Paper 328, 2021
    as

    Download full text from publisher

    File URL: https://www.nipfp.org.in/media/medialibrary/2021/03/WP_328_2020.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Badola, Shivani & Mukherjee, Sacchidananda, 2020. "Factors Influencing Access to Formal Credit of Unincorporated Enterprises in India: Analysis of NSSO's Unit-level Data," Working Papers 20/326, National Institute of Public Finance and Policy.
    2. Olivier Blanchard, 2019. "Public Debt and Low Interest Rates," American Economic Review, American Economic Association, vol. 109(4), pages 1197-1229, April.
    3. Olivier J Blanchard, 2019. "Public Debt: Fiscal and Welfare Costs in a Time of Low Interest Rates," Policy Briefs PB19-2, Peterson Institute for International Economics.
    4. Patnaik, Ila & Pandey, Radhika, 2020. "Four years of the inflation targeting framework," Working Papers 20/325, National Institute of Public Finance and Policy.
    5. Mukherjee, Sacchidananda, 2020. "Pandemic and GST Revenue: An Assessment for Union and States," Working Papers 20/327, National Institute of Public Finance and Policy.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Anshuman Kamila, 2022. "Fiscal dominance in India: an empirical estimation," Indian Economic Review, Springer, vol. 57(1), pages 113-132, June.
    2. Kamila, Anshuman, 2021. "Fiscal dominance in India: An empirical estimation," Working Papers 21/359, National Institute of Public Finance and Policy.
    3. Anshuman Kamila, 2021. "Fiscal dominance in India: Through the windshield and the rearview mirror," IEG Working Papers 429, Institute of Economic Growth.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alexander Beames & Mariano Kulish & Nadine Yamout, 2022. "Fiscal Policy and the Slowdown in Trend Growth in an Open Economy," Working Papers 143, Red Nacional de Investigadores en Economía (RedNIE).
    2. Christian Breuer, 2020. "Goverment Debt Post COVID-19: Back To Golden Rules," Chemnitz Economic Papers 041, Department of Economics, Chemnitz University of Technology, revised Feb 2020.
    3. Ludger Schuknecht, 2019. "Fiscal-Financial Vulnerabilities," CESifo Working Paper Series 7776, CESifo.
    4. Daisuke Miyashita, 2023. "Public debt and income inequality in an endogenous growth model with elastic labor supply," International Journal of Economic Policy Studies, Springer, vol. 17(2), pages 447-472, August.
    5. Schuster, Florian & Krahé, Max & Sigl-Glöckner, Philippa, 2021. "Wird die Konjunkturkomponente der Schuldenbremse in ihrer heutigen Ausgestaltung ihrer Aufgabe noch gerecht? Analyse und ein Reformvorschlag," Papers 277885, Dezernat Zukunft - Institute for Macrofinance, Berlin.
    6. Karl Whelan, 2021. "Central banks and inflation: where do we stand and how did we get here?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 18(3), pages 310–330-3, December.
    7. Dammann, Felix & Rodosthenous, Neofytos & Villeneuve, Stéphane, 2025. "A Stochastic Non-Zero-Sum Game of Controlling the Debt-to-GDP Ratio," Center for Mathematical Economics Working Papers 730, Center for Mathematical Economics, Bielefeld University.
    8. Hirofumi Wakimoto, 2026. "JFR-rg: A New Macroeconomic Framework for High-Debt, Low-Growth Economies under Financial Repression," Papers 2604.09663, arXiv.org, revised Apr 2026.
    9. Max Krahé & Florian Schuster & Philippa Sigl-Glöckner, 2021. "Wird die Konjunkturkomponente der Schuldenbremse ihrer Aufgabe noch gerecht? [Is the Cyclical Component of the Debt Brake Still Up to Its Task?]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(8), pages 621-628, August.
    10. Gergő Motyovszki & Philipp Pfeiffer & Jan in ’t Veld, 2024. "The Implications of Public Investment for Debt Sustainability," European Economy - Discussion Papers 204, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    11. Langenmayr Dominika & Mittermaier Ferdinand, 2021. "Nachhaltiges Wirtschaften, nachhaltig finanziert: Herausforderungen für die Politik in den 2020er Jahren," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 22(3), pages 176-190, September.
    12. Battistini, Niccolò & Callegari, Giovanni, 2020. "Public spending at the effective lower bound: how significant are the sustainability risks?," Research Bulletin, European Central Bank, vol. 67.
    13. Reserve Bank of India, 2022. "Monetary and fiscal policy interactions in the wake of the pandemic," BIS Papers chapters, in: Bank for International Settlements (ed.), The monetary-fiscal policy nexus in the wake of the pandemic, volume 122, pages 149-157, Bank for International Settlements.
    14. Chakraborty, Lekha S, 2022. "Analysing Union Budget 2022-23: Fiscal Policy and Global Uncertainties," MPRA Paper 112700, University Library of Munich, Germany.
    15. Federico Bassi, 2020. "Chronic Excess Capacity and Unemployment Hysteresis in EU Countries. A Structural Approach," DISCE - Working Papers del Dipartimento di Economia e Finanza def091, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    16. Jussi Lindgren, 2021. "Examination of Interest-Growth Differentials and the Risk of Sovereign Insolvency," Risks, MDPI, vol. 9(4), pages 1-14, April.
    17. Charles Gottlieb & Jan GrobovsÌŒek & Markus Poschke & Fernando Saltiel, 2020. "Working from home: Implications for developing countries," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 242-256, Centre for Economic Policy Research.
    18. Mitsuru Katagiri & Yusuke Oh & Yasutaka Ogawa & Nao Sudo & Takeki Sunakawa, 2024. "On the Interaction between Monetary and Fiscal Policy: Developments in Macroeconomics since the Global Financial Crisis," IMES Discussion Paper Series 24-E-12, Institute for Monetary and Economic Studies, Bank of Japan.
    19. Paul Corral & Roberta Gatti, 2020. "Accumulation interrupted: COVID-19 and human capital among the young," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 286-302, Centre for Economic Policy Research.
    20. Rosaria Rita Canale & Rita Siano, 2024. "Is government debt a burden on workers' income share? An investigation on Italian dynamics," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 41(2), pages 543-563, July.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:npf:wpaper:21/328. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: S.Siva Chidambaram The email address of this maintainer does not seem to be valid anymore. Please ask S.Siva Chidambaram to update the entry or send us the correct address (email available below). General contact details of provider: http://www.nipfp.org.in .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.