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

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The Macroeconomic Adjustment Programme

The Macroeconomic Adjustment Programme A Critique Mihir Rakshit The government has chalked out a programme for macroeconomic adjustment over the short and the medium run in order to resolve the fiscal crisis and tackle the problems of inflation and the balance of payments. Our primary focus in this paper will be on the macroeconomic adjustment policies embodied in the union budget, though we have also to consider the medium run macro implications of the exim policy, delicensing of industries and financial liberalisation.

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