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Fiscal Policy Developments in India - 1947 to 2007 (Hardcover)
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Fiscal Policy Developments in India - 1947 to 2007 (Hardcover)
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Fiscal policy is an important instrument of the general economic
policy of a government. It is concerned with the use of a
government's taxation and expenditure powers to influence economic
activities in an economy at the aggregate level. It also deals with
financial relations between different tiers of government in a
federal polity. Through the medium of budget, fiscal policy
determines the level of taxation, public expenditure, borrowings,
and the issuing of additional currency by a government. In India,
the external payments crisis of 1991 which led to the initiation of
economic reforms was the result of a deteriorating fiscal situation
during the latter half of 1980s. Fiscal imbalance was identified as
the underlying cause of the twin problems of inflation and the
difficult balance of payments position. This book provides an
exhaustive and analytical account of fiscal developments in India
since Independence (1947) with focus on post-1991 reforms. It
examines many aspects of India s fiscal policy including government
budgeting, the tax system, public expenditure, public debt, fiscal
federalism, and the functional responsibilities and sources of
revenue of local bodies.
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