Session 1:
The Indian Fiscal Situation
|
| Chair: |
C. Rangarajan, Chariman, National Institute of Public Finance
and Policy |
| 1. |
Fiscal Developments and Outlook in India |
| |
|
Indira Rajaraman, Professor, National Institute of Public Finance and
Policy |
| 2. |
India: Macroeconomic
Implications of the Fiscal Imbalances |
| |
|
Kalpana Kochhar, Assistant Director, Asia and Pacific Department (IMF) |
| Discussants: |
Mihir Rakshit, Director,
Monetary Research Project, Investment Information and Credit Rating
Agency |
| |
Shankar Acharya, Honorary Professor, Indian Council for
Research on International Economic Relations |
| |
Session 2: Financial Repression,
Crowding Out, and Growth
|
| Chair: |
Anne O. Krueger, First Deputy Managing Director,
IMF |
| |
The Widening Gyre: The Dynamics
of Rising Public Debt and Falling Growth |
| |
|
William Easterly, Senior Fellow, Center for Global Development |
| Discussants: |
Surjit S. Bhalla, Managing Director, Oxus Research and
Investments |
| |
Suman K. Bery, Director, National Council of Applied Economic
Research |
| |
| |
Session 3: Balance Sheets Crises
|
| Chair: |
Peter S. Heller, Deputy Director,
Fiscal Affairs
Department, IMF |
| |
A Balance Sheet Crisis in India? |
| |
|
Nouriel Roubini, Associate Professor of Economics and
International Business
Stern School of Business, New York University
and |
| |
|
Richard Hemming, Senior Advisor, Fiscal Affairs Department, IMF |
| Discussants: |
Arvind Panagariya, Professor, Department of Econoics and
Co-Director, Center for International Economics |
| |
Arvind Virmani, Director and Chief Executive Indian Council
for Research
on International Economic Relations |
| |
Session 4: Institutional Prerequisites for Achieving
a Responsible Fiscal Policy In a Democracy
|
| Chair: |
D. C. Gupta, Finance Secretary and Secretary,
Department of Economic Affairs, Government of India |
| |
The Challenge of Fiscal Adjustment in a Democracy: The
Case of India |
| |
|
Ricardo Hausmann, Professor of Economic Development, Harvard
University |
| |
|
Catriona Mary Purfield, Economist, Asia and Pacific Department, IMF |
| Discussants: |
Ashok K. Lahiri, Chief Economic Adviser,
Government of
India |
| |
Amaresh Bagchi, Emeritus Professor, NIPFP |
| |
| |
January 17, 2004
|
Session 5: Adjustment in a Federal Context
|
| |
Fiscal Adjustment and Federalism in Brazil |
| |
|
Eduardo Refinetti Guardia, Secretary of Finance of the State of Sao
Paulo, Brazil |
| Chair: |
Raja J. Chelliah, Professor of Eminence, NIPFP and Chairman |
| Discussants: |
Teresa Ter-Minassian, Director, Fiscal Affairs
Dept. IMF |
| |
M. Govinda Rao, Director, NIPFP |
| |
Session 6: Financing Economic and Social Development
Priorities
|
| Chair: |
Montek Singh Ahluwalia, Director Internal Evaluation
Office, IMF |
| |
Subsidies and Salaries: Issues in the Restructuring of Government Expenditure
in India |
| |
|
Stephen Howes, Lead Economist, The World Bank, New Delhi and
|
| |
|
Rinku Murgai, Economist, The World Bank, New Delhi |
| Discussants: |
Anjini Kochar, Senior Research Scholar and
India Program Coordinator, Standford Univ. |
| |
N.J. Kurian, Adviser, Planning Commission, Government of
India |
| |
| |
Session 7: Long-term Fiscal Policy Challenges
|
| Chair: |
Vijay Kelkar, Advisor to the Minister of Finance,
Government of India |
| |
India: Today's Fiscal Policy Imperatives Seen in the Context of Longer-term
Challenges and Risks |
| |
|
Peter S. Heller, Deputy Director, Fiscal Affairs Department, IMF |
| Discussants: |
Urjit R. Patel, Chief Policy Officer, Infrastructure
Development Finance Co. Ltd., Mumbai |
| |
Sudipto Mundle, Chief Economist and Deputy Country Director,
India Resident Mission, Asian Development Bank |
| |
Session 8: Concluding Paper: Lessons and Priorities
for India
|
| Chair: |
Teresa Ter-Minassian, Director, Fiscal Affairs Department,
IMF |
| |
Fiscal Policy in India: Lessons and Priorities |
| |
|
Nirvikar Singh, Director of Business Management, Economics Progam,
Santa Cruz Center for International Economics, University of California,
and |
| |
|
T.N. Srinivasan, Professor of Economics, Yale University and Stanford
Center for
International Development |
| Discussant: |
Rakesh Mohan, Deputy Governor, Reserve Bank of India |
| |
Session 9: High-level roundtable
discussion
|
| Chair: |
T.N. Srinivasan |
| Speakers: |
Montek Singh Ahluwalia, Raja J. Chelliah, Vijay
Kelkar,
Teresa Ter-Minassian |
