01758cas a2200253 a 4500 AALejournalIMF005986 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451873221 1018-5941 BD-DhAAL BD-DhAAL Simone, Alejandro. India's Experience with Fiscal Rules : An Evaluation and The Way Forward / Alejandro Simone, Petia Topalova. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines India's experience with fiscal rules with a view to inform the design of a possible successor fiscal framework to the FRBMA. Among several proposals to strengthen the FRBMA, a framework that focuses medium-term fiscal policy on debt sustainability by the use of a medium term debt target, and annual nominal expenditure growth rules is proposed. This approach tackles the deficit bias at its core and enables countercyclical fiscal policy through automatic stabilizers. Numerical targets should be supported by structural reform measures for both revenues and expenditures, while the coverage of the fiscal rules should be expanded. Mode of access: Internet Topalova, Petia. IMF Working Papers; Working Paper ; No. 2009/175 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/175/001.2009.issue-175-en.xml IMF e-Library