01788cas a2200253 a 4500 AALejournalIMF009502 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451867695 1018-5941 BD-DhAAL BD-DhAAL Prasad, Ananthakrishnan. Indian Subnational Finances : Recent Performance / Ananthakrishnan Prasad, Adarsh Kishore. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (30 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 The fiscal performance of the States in India has been an area of concern for quite some time. The Twelfth Finance Commission (TFC) recommended a three-pronged strategy to alleviate States' fiscal distress, built around greater orientation toward market discipline, incentives for fiscal consolidation targets, and commitment to fiscal correction. We find that States have created fiscal space through raising revenues and reducing and reprioritizing expenditures. Looking ahead, expansion of fiscal space is essential to meet the States' large infrastructure and social needs in order to alleviate bottlenecks to growth. This needs to be accomplished without undermining fiscal sustainability. Mode of access: Internet Kishore, Adarsh. IMF Working Papers; Working Paper ; No. 2007/205 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/205/001.2007.issue-205-en.xml IMF e-Library