Agarwal, U.C. creator text xu| 2004 continuing ng p.549-564. 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 180718