Debt Sustainability of Subnational Governments in India
Lessons from International Debt Crises
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Product details:
- Publisher OUP Oxford
- Date of Publication 26 June 2024
- ISBN 9780198903116
- Binding Hardback
- No. of pages256 pages
- Size 85x55x7 mm
- Weight 870 g
- Language English 515
Categories
Short description:
In Debt Sustainability of Subnational Governments in India: Lessons from International Debt Crises, Dwivedi analyses the debt sustainability of the Indian states in the context of many emerging issues and challenges to their fiscal health with the aim of providing usable and practical policy recommendations.
MoreLong description:
In 2020, for the first time in history, the worlds debt as a percentage of its gross domestic product exceeded 100 per cent. Although it has come down slightly since then, there are concerns about where the next debt crisis will happen, given that Pakistan and Sri Lanka have found their debt to be what may be described as unsustainable. Indias overall fiscal health and macroeconomic conditions remain stable, but questions on the fiscal health of Indias subnational entities have been raised from time to time. In Debt Sustainability of Subnational Governments in India: Lessons from International Debt Crises, Dwivedi attempts to answer this question by analysing the debt sustainability of states in the context of many emerging issues and challenges to their fiscal health. The book aims to provide usable and practical recommendations to ensure sound fiscal health of the subnational governments in India. Some of the key aspects covered in the book include international experiences of excessive borrowing, and the learnings from these experiences; trends of state government debt (subnational debt); control mechanism on subnational borrowings; emerging issues that pose challenges to state finances; and recommendations to control debt from spiralling out of control.
MoreTable of Contents:
List of Tables
List of Figures
List of Abbreviations
Foreword
Preface
An Introduction to Public Debt
International Debt Crisis -- What Went Wrong?
Borrowings in a Decentralized Governance Structure
Subnational Government Borrowing in India
Impact of FRBM on Development Expenditure under Capital Account of SNGs
Debt Situation of SNGs in India: Historical Trends
Debt Sustainability of SNGs
Alternative Approach to Measure SNGs' Debt Sustainability
Emerging Issues in Debt Sustainability of SNGs in India
How SNGs in India Can Avoid Debt Crisis
Strengthening Finances of Local Bodies -- Drivers of Growth
Conclusion
References
Index
Appendix
