Fiscal reforms in India since 1991: A critical assessment
- 2004
- p.733-745.
- Jul-Sep
The Government of India launched economic reforms in July 1991 with the objective of macro-economic stabilisation and acceleration of the rate of growth of the economy. The reform package, which marked a significant departure from the policy regime followed during the past 40 years, covered a number of policy dimensions including fiscal policy, trade policy, industrial policy, agricultural policy, foreign exchange management policy, among others. This article seeks to have a critical look at the fiscal reforms at the Central and State levels and examines the progress particularly in terms of the targets of fiscal deficits. - Reproduced.