01258pab a2200169 454500 180718b2004 xxu||||| |||| 00| 0 eng d Agarwal, U.C. Lack of fiscal discipline and heavy borrowings affecting growth 2004 p.549-564. Jul-Sep The growing fiscal and revenue deficit have been a matter of concern for successive finance ministers. High debt servicing costs, escalating level of borrowings to finance government expenditure and paucity of resources for development purposes call for some strict and urgent steps to enforce discipline in handling of the economy. The condition of states' finances is still more pathetic. This article takes a systematic stock of the prevailing ills in our fiscal management at the Central as well as state government level. The fiscal Responsibility and Budget Management Act has laid down deadlines for reducing fiscal and revenue deficit. One hopes that this task will be taken up in all earnestness before things go further out of control and call for some harsh measures to sustain the national economy. - Reproduced. Economic growth Indian Journal of Public Administration N 63067 63067 63067 0 0 0 0 IIPA IIPA 2018-07-19 Volume no: 50, Issue no: 3 AR63517 2018-07-19 2018-07-19 AR