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Public Finance Management in India in the time of COVID-19 Pandemic

Author

Listed:
  • Mukherjee, Sacchidananda

    (National Institute of Public Finance and Policy)

  • Badola, Shivani

    (National Institute of Public Finance and Policy)

Abstract

Due to the COVID-19 pandemic, public financial management in the FY 2020-21 and 2021-22 have become extremely challenging. The economic contraction has created pressures on PFM in India in terms of lower revenue mobilisation and higher expenditure needs. Both the Union and state governments are facing dual problem of arresting economic contraction and managing public finance with limited resources. The present paper analyses public finance management of the Union as well as 16 major Indian states during the time of COVID-19 pandemic. For comparison, we have also analysed pre-COVID public finance monthly data of state governments. The shock to PFM came from both the revenue as well as expenditure side. Apart from aggregate analysis of state finances of 16 major states, we present state-wise analysis to highlight measures adopted by states to deal with the unprecedented fiscal crisis.

Suggested Citation

  • Mukherjee, Sacchidananda & Badola, Shivani, 2021. "Public Finance Management in India in the time of COVID-19 Pandemic," Working Papers 21/337, National Institute of Public Finance and Policy.
    • Handle: RePEc:npf:wpaper:21/337
    Note: Working Paper 337, 2021
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    File URL: https://www.nipfp.org.in/media/medialibrary/2021/05/WP_337_2021.pdf
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    References listed on IDEAS

    as
    1. Sacchidananda Mukherjee, 2020. "Estimation and Projection of Petroleum Demand and Tax Collection from Petroleum Sector in India," Journal of Infrastructure Development, India Development Foundation, vol. 12(1), pages 39-68, June.
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    Cited by:

    1. Mukherjee, Sacchidananda, 2022. "State Finances in India - Analysis of Budget 2022-23 of Major States," MPRA Paper 113955, University Library of Munich, Germany.
    2. Mukherjee, Sacchidananda, 2022. "Analysis of State Budgets 2022-23 of Major States in India," Working Papers 22/386, National Institute of Public Finance and Policy.
    3. Mukherjee, Sacchidananda, 2021. "Revenue Shortfall and GST Compensation: An Assessment," Working Papers 21/356, National Institute of Public Finance and Policy.
    4. Choudhury, Mita & Datta, Pritam, 2022. "The "Scissors Effect" of COVID 19 Pandemic on State Finances: Emerging Evidence on Expenditures," Working Papers 22/369, National Institute of Public Finance and Policy.

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    More about this item

    Keywords

    COVID-19 pandemic ; Indian Public Finance ; Fiscal Managements ; Revenue Mobilisation ; Fiscal Deficit ; Revenue Deficit;
    All these keywords.

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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