Chakraborty, Lekha
Union budget 2021–22: The macroeconomic framework - Economic & Political Weekly - 56(9), Feb 27, 2021: p.20-24
High deficit has no fiscal costs if it can be substantiated with increased public investment or “output gap” reduction. When the monetary policy stance has limitations in triggering growth through liquidity infusion and the status quo policy rates, “fiscal dominance” is crucial for sustained growth recovery. – Reproduced
Budget deficit, Sustainable growth
Union budget 2021–22: The macroeconomic framework - Economic & Political Weekly - 56(9), Feb 27, 2021: p.20-24
High deficit has no fiscal costs if it can be substantiated with increased public investment or “output gap” reduction. When the monetary policy stance has limitations in triggering growth through liquidity infusion and the status quo policy rates, “fiscal dominance” is crucial for sustained growth recovery. – Reproduced
Budget deficit, Sustainable growth