ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Why Fiscal Adjustment Now

Fiscal adjustment is needed not to stave off an imminent crisis, but because postponing reform would place long-run sustained growth in jeopardy. Alternatively, a phased adjustment that begins immediately and is implemented over the Tenth Plan period will improve spending composition in a manner conducive to faster growth and poverty reduction, and reduce deficits gradually.
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