000			01324pab a2200181 454500
008			180718b2002 xxu||||| |||| 00| 0 eng d
100			_aKarnik, Ajit
245			_aFiscal responsibility and Budget Management Bill: offering credible commitments
260			_c2002
300			_ap.251-56
362			_a19 Jan
520			_aIndia's fiscal scenario at the moment is about as bad as it was in 1991-92, the beginning of the economic reforms process. For a variety of reasons, many of them in the realm of political economy, the government has been unable to reduce its expenditures and increase revenues. A fiscal responsibility bill, of the kind being discussed currently, is meant to offer a credible commitment that the government is serious about fiscal consolidation. By trying its own hands the government signals that it is serious about reducing deficits. While one may disagree with the details of the bill, the broad overall thrust and the philosophy underlying it deserve to be welcomed. Unfortunately, as this note is being written, the government is seen to be completely diluting the provisions of the bil so as to render it completely ineffective. - Reproduced.
650			_aBudget
650			_aPublic finance
650			_aFiscal policy
773			_aEconomic and Political Weekly
909			_a51107
999			_c51107 _d51107