Towards a new fiscal policy framework4 min read 09 Nov 2016, 02:08 AM IST
The quest for a new fiscal law is absolutely fine as long as it does not become an excuse for abandoning fiscal discipline
One of the persistent points made in this column is that India needs a new fiscal policy framework to complement the new monetary policy framework that has been adopted (for example, see ‘Why India needs a new fiscal policy framework’). A committee headed by veteran bureaucrat N.K. Singh is expected to recommend changes in Indian fiscal rules when it submits its report to the government in the coming weeks.
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