{
  "title": "What Level of Public Debt Could India Target?",
  "publication": "IMF Working Papers, January 1, 2010",
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  "summary": "This paper discusses possible medium-term public debt targets for India, based on evidence from the economic literature on prudent levels of public debt and the feasibility for the country to meet a particular target over the next 5-6 years.",
  "sections": [
    {
      "heading": "Objective and Scope",
      "content": "- Discusses possible medium-term public debt targets for India.\n- Bases analysis on evidence from the economic literature on prudent levels of public debt and feasibility for the country to meet a particular target over the next 5-6 years.\n- Recognizes challenges in determining an appropriate debt target."
    },
    {
      "heading": "Main Findings and Projections",
      "content": "- Cross-country analysis and simulations suggest a debt ratio in the range of 60-65 percent of GDP by 2015/16 might be suitable for India.\n- Such a debt ceiling:\n  - Remains above the average debt level for emerging markets.\n  - Is within the range of debt ratios that would provide room for countercyclical fiscal policy and contingent liabilities.\n  - Would send a strong signal of the government's commitment to fiscal consolidation by making a clear break with the past."
    },
    {
      "heading": "Policy Implications and Recommendations",
      "content": "- Targeting a debt ratio in the range of 60-65 percent of GDP by 2015/16 would:\n  - Provide fiscal space for countercyclical policy responses.\n  - Offer capacity to absorb contingent liabilities.\n  - Reinforce a visible commitment to fiscal consolidation."
    },
    {
      "heading": "Subjects and Keywords (as listed)",
      "content": "- Subjects: Emerging and frontier financial markets, Financial markets, Financial services, Fiscal policy, Government debt management, Public debt, Public financial management (PFM), Real interest rates\n- Keywords: debt, debt ceiling, debt intolerance, debt level, debt ratio, debt target, debt threshold, Emerging and frontier financial markets, fiscal consolidation, Fiscal rules, GDP, GDP + ClubB, GDP + ClubC, GDP deflator, GDP reduction, General government debt, Global, Government debt management, India, public debt debt ratio, Real interest rates, WP\n\n---\n\n Content in this bundle\n\n- Path of India’s General Government Debt: Scenarios\n  - Path of India’s General Government Debt: Scenarios (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Path of India’s General Government Debt: Scenarios (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/what-level-of-public-debt-could-india-target-23511"
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    "Authors: Petia Topalova, Dan Nyberg",
    "Published: January 1, 2010",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451961836.001",
    "Discusses possible medium-term public debt targets for India.",
    "Bases analysis on evidence from the economic literature on prudent levels of public debt and feasibility for the country to meet a particular target over the next 5-6 years.",
    "Recognizes challenges in determining an appropriate debt target.",
    "Cross-country analysis and simulations suggest a debt ratio in the range of 60-65 percent of GDP by 2015/16 might be suitable for India.",
    "Such a debt ceiling:",
    "Targeting a debt ratio in the range of 60-65 percent of GDP by 2015/16 would:",
    "Subjects: Emerging and frontier financial markets, Financial markets, Financial services, Fiscal policy, Government debt management, Public debt, Public financial management (PFM), Real interest rates",
    "Keywords: debt, debt ceiling, debt intolerance, debt level, debt ratio, debt target, debt threshold, Emerging and frontier financial markets, fiscal consolidation, Fiscal rules, GDP, GDP + ClubB, GDP + ClubC, GDP deflator, GDP reduction, General government debt, Global, Government debt management, India, public debt debt ratio, Real interest rates, WP",
    "**Path of India’s General Government Debt: Scenarios**"
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