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Is the Fiscal policy of India Sustainable?
Finance & Accounting
Pages 60 (15060 words)
Is the Fiscal policy of India Sustainable? Chapter 1: Introduction The contemporary economic positioning of the world can be seen as a bifurcation into two speed economy. With the devastating effects of the great recession in 2008, there has been a well drawn advancement in the global economic condition with a jet propulsive speed in a dual dimension1.
The staggered recovery in the economy has apparently terminated the growth dynamics of major industrialized economies and the developed nations. The declining growth rates of the household and the shyness of the business market has been adversely affecting the world trade and the employment scenario simultaneously. The huge funding requirements of the banks and the sovereigns can be also regarded as one of the major problems of these nations. On the other hand the emerging and the developing markets in the global platform at the same time are growing at an accelerated rate2. Similarly one of the world’s developing nations i.e., Indian economy has grown rapidly since the beginning of the 1990s despite a large and growing fiscal deficit and rising public levels relative to output. Despite the economic upheaval in the time span of 2007-09 and the downsizing of the global events particularly the random fluctuations in the movement of the prices of the crude oil, the economy of India has faced remarkable growth and has worked on the further growth and development in their economic conditions with consolidated enhancement in the key macroeconomic indicators3. ...
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