Dharmakirti Joshi & Manoranjan Pattanayak: India’s fiscal stress is likely to continue in the medium-term - business-standard.com, Author - Dharmakirti Joshi & Manoranjan Pattanayak
The current downturn notwithstanding, the structural upward shift in growth rates and a downward shift in interest rates will help in ensuring debt levels do not explode. If however, growth slips further and/or expenditures do not revert to their normal trend, India will face a rising debt ratio.
Tags: debt ratio, expenditures, fiscal deficit, FRBM, GDP, government revenues, interest payments, monetary policies, subsidies