The fiscal adjustment underway in India since 1991 has not eliminated the spectre of insolvency. The fiscal correction so far has been inadequate to correct for the profligacy of the1980s. Though the overall public sector financial and primary deficits as ratio to GDP have declined from their peak in 1990-91. There is need of credible measures to reduce public expenditure and/or raise government revenues to reverse the rise of gross fiscal deficit. The present book analyses the fiscal trends since 1985 onwards and examines the efficacy of fiscal adjustment in India. This book:Discusses the major causes of fiscal crisis in the Indian economy. Evaluates the fiscal adjustment programmes undertaken during the last decade. Analyses the fiscal deficit measures in the light of suggestions of the IMF and the World Bank. Examines the efficacy of Fiscal Adjustment Programme. Students and researches will find the book useful.
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