India’s Recent Macroeconomic Performance: An Assessment and Way Forward
Electronic Access:
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Summary:
The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then exacerbated by domestic policy bottlenecks and volatility in international financial markets during mid-2013. Appropriate domestic oil prices and fiscal consolidation will contribute to the recovery of private sector investment. Fiscal consolidation would also facilitate a reduction in inflation, which would moderate gold imports and favorably impact real exchange rate and current account deficit.
Series:
Working Paper No. 2014/068
Subject:
Deposit rates Exports Financial services Government debt management Imports Inflation International trade Prices Public financial management (PFM)
English
Publication Date:
April 29, 2014
ISBN/ISSN:
9781484360675/1018-5941
Stock No:
WPIEA2014068
Pages:
66
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