How has India’s economy grown so rapidly since the beginning of the 1990s, despite a large and growing fiscal deficit, and rising public debt? This book explores whether India has found a way to reconcile sustained expansionary fiscal policies with relative macroeconomic stability. Drawing on the world’s most respected and knowledgeable fiscal economists, with wide-ranging experience in emerging markets including India, it seeks to understand the strengths and weaknesses of India’s policies in managing its fiscal position. Theoretical frameworks, critical evaluations of India’s fiscal policies, and discussions on relevant international experiences are blended here to provide a comprehensive picture of the state of public finances in India. Emphasizing growth while looking at fiscal policy, contributors highlight the role of academicians and policy analysts along with policymakers. This book, articulating a comprehensive fiscal policy for India, will be important for researchers, policymakers, students, and professional economists.
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