The Hindu : Development and goal-setting
نویسنده
چکیده
THE ``DECADE of development’’ cannot rest on an unstable fiscal base. India has seen too often how bold objectives can be pushed aside through financial crisis. It is extremely important to bring down fiscal deficits mainly through budget cuts and privatisation revenues to reduce the ratio of public debt to national income to avoid future macroeconomic destabilisation. Unless substantial fiscal consolidation is achieved, continued fiscal deficits pose the greatest risk of future destabilisation in India.
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