India's economy has grown rapidly since the beginning of the 1990s, despite a large and growing fiscal deficit and rising public levels relative to output. This book explores whether India has found a way to reconcile sustained expansionary fiscal policies with relative macroeconomic stability. Drawing on the views of some of the most knowledgeable experts on macroeconomics and fiscal policy, with wide ranging experience in both other emerging market countries, as well as in India, it seeks to understand the strengths and weaknesses of India's policies in managing its fiscal position. This volume argues why India does not face serious macroeconomic problems in spite of large fiscal imbalances, but at the same time incurring hidden costs on the economy in terms of foregone potential for even higher economic growth. It warns that time is running out for India to address these fiscal imbalances in a way that does not result in enhanced vulnerability to macroeconomic crisis.
- ISBN10 019567488X
- ISBN13 9780195674880
- Publish Date 6 April 2006
- Publish Status Out of Print
- Out of Print 21 June 2010
- Publish Country IN
- Imprint OUP India
- Format Hardcover
- Pages 432
- Language English