Indias Experience with Fiscal Rules: An Evaluation and the Way Forward Alejandro Simone

ISBN: 9781282391857

Published: May 9th 2014

ebook

42 pages


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Indias Experience with Fiscal Rules: An Evaluation and the Way Forward  by  Alejandro Simone

Indias Experience with Fiscal Rules: An Evaluation and the Way Forward by Alejandro Simone
May 9th 2014 | ebook | PDF, EPUB, FB2, DjVu, talking book, mp3, RTF | 42 pages | ISBN: 9781282391857 | 7.78 Mb

This paper examines Indias experience with fiscal rules with a view to inform the design of a possible successor fiscal framework to the FRBMA. Among several proposals to strengthen the FRBMA, a framework that focuses medium-term fiscal policy onMoreThis paper examines Indias experience with fiscal rules with a view to inform the design of a possible successor fiscal framework to the FRBMA. Among several proposals to strengthen the FRBMA, a framework that focuses medium-term fiscal policy on debt sustainability by the use of a medium term debt target, and annual nominal expenditure growth rules is proposed.

This approach tackles the deficit bias at its core and enables countercyclical fiscal policy through automatic stabilizers. Numerical targets should be supported by structural reform measures for both revenues and expenditures, while the coverage of the fiscal rules should be expanded.



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