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

What one expected from the Report of the Advisory Group set up by the Reserve Bank of India (RORB) to assess conformity to the guidelines specified in the IMF's Fiscal Code was an in-depth exploration of compliance, beneath the formal provisions in place. The peculiar genius of Indian misgovernance is that, while complying with transparency requirements in a superficial sense, there are enough exceptions and anomalies tucked away in the system for it to achieve obfuscation to an impressive degree. The Group was advantageously placed in terms of its membership to ferret out examples where there is de jure compliance, but none de facto. It does not do this. Further, the RORB is largely confined to compliance at the central government level. It does deal to some degree with inter-government issues between centre and states, but not with state-local issues.



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