Public Debt and Macroeconomic Performance in India

Bal, Debi Prasad and Rath, Badri Narayan (2015) Public Debt and Macroeconomic Performance in India. PhD thesis, Indian Institute of Technology Hyderabad.

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Abstract

The fiscal scenario of the central government in India has been unsustainable particularly during the post-liberalization era primarily because of heavy public expenditure. Therefore, public debt plays an important role in order to match between expenditure and revenue collection of the government, which in turn could affect the overall macroeconomic performance. The economic consequences of high fiscal deficits results in heavy public debt during post-reform periods as compared to pre-reform periods. On the other hand, the reduction in economic growth particularly from 2010-11 poses challenge in reducing the public debt as a percentage to GDP.

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