Managing State Debt and Ensuring Solvency : The Indian Experience

Show simple item record

collection.link.5
https://openknowledge.worldbank.org/handle/10986/9
collection.name.5
Policy Research Working Papers
dc.contributor.author
Rangarajan, C.
dc.contributor.author
Prasad, Abha
dc.date.accessioned
2012-04-27T07:44:21Z
dc.date.available
2012-04-27T07:44:21Z
dc.date.issued
2012-04
dc.description.abstract
The paper presents the policymakers perspective on the reforms undertaken to manage states debt and ensure solvency. While the sustained high growth rates of the Indian economy played a part in alleviating the interest burden on debt and ensuring that the debt does not grow in an explosive trajectory, major reforms were implemented to reverse the fiscal decline, develop fiscal responsibility rules to ensure sustained adjustment, and move toward a market-based financing of state deficits. The serious efforts at fiscal consolidation and institutional reforms have enabled states to set on the path toward fiscal correction. Nonetheless, weak global growth prospects and the risk of a further rise in global commodity and fuel prices could generate the dilemma of needing to compress expenditures for ensuring fiscal sustainability while simultaneously needing counter-cyclical spending to boost growth, and challenge the fiscal adjustment process.
en
dc.identifier
http://documents.worldbank.org/curated/en/2012/04/16231495/managing-state-debt-ensuring-solvency-indian-experience
dc.identifier.uri
http://hdl.handle.net/10986/6041
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Policy Research Working Paper ; No. 6036
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCESS TO RESOURCES
dc.subject
ACCOUNTING
dc.subject
ACCOUNTING POLICIES
dc.subject
ACCUMULATION OF DEBT
dc.subject
ACTIVE DEBT
dc.subject
AMORTIZATION
dc.subject
ARREARS
dc.subject
BAILOUTS
dc.subject
BANK DEPOSIT
dc.subject
BANK POLICY
dc.subject
BANK RATE
dc.subject
BANKING SECTOR
dc.subject
BASIS POINTS
dc.subject
BORROWING REQUIREMENTS
dc.subject
BUDGET CONSTRAINTS
dc.subject
BUDGET MANAGEMENT
dc.subject
CAPITAL EXPENDITURES
dc.subject
CASH MANAGEMENT
dc.subject
CENTRAL TRANSFERS
dc.subject
CLEARING CORPORATION
dc.subject
COMMERCIAL BANKS
dc.subject
CONTINGENT LIABILITIES
dc.subject
CONTINGENT LIABILITY
dc.subject
COUNTRY COMPARISONS
dc.subject
CREDIBILITY
dc.subject
CREDIT FACILITY
dc.subject
CREDIT RATING AGENCIES
dc.subject
CREDIT RATINGS
dc.subject
CREDIT RISK
dc.subject
CREDIT STRENGTH
dc.subject
CREDITOR
dc.subject
CURRENCY
dc.subject
CURRENT ACCOUNT
dc.subject
CURRENT EXPENDITURES
dc.subject
DEBT
dc.subject
DEBT ACCUMULATION
dc.subject
DEBT BURDEN
dc.subject
DEBT COMPOSITION
dc.subject
DEBT CONSOLIDATION
dc.subject
DEBT FINANCE
dc.subject
DEBT FORGIVENESS
dc.subject
DEBT LEVEL
dc.subject
DEBT LEVELS
dc.subject
DEBT MANAGEMENT
dc.subject
DEBT OBLIGATIONS
dc.subject
DEBT RELIEF
dc.subject
DEBT REPAYMENT
dc.subject
DEBT RESTRUCTURING
dc.subject
DEBT SERVICE
dc.subject
DEBT SERVICE PAYMENTS
dc.subject
DEBT SWAP
dc.subject
DEBTS
dc.subject
DECENTRALIZATION
dc.subject
DEFAULT RISK
dc.subject
DEFAULTS
dc.subject
DEFICIT FINANCING
dc.subject
DEFICITS
dc.subject
DEMAND DEPOSITS
dc.subject
DEMAND FOR CREDIT
dc.subject
DEPOSIT
dc.subject
DEPOSIT INTEREST
dc.subject
DEPOSITS
dc.subject
DEVELOPMENT BANKS
dc.subject
DEVOLUTION
dc.subject
DISCLOSURE NORMS
dc.subject
DOMESTIC BORROWINGS
dc.subject
DOMESTIC CREDIT
dc.subject
DOMESTIC CREDIT RATING
dc.subject
ECONOMIC ACTIVITY
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC POLICY
dc.subject
EXCHANGE RATE
dc.subject
EXCHANGE RATES
dc.subject
EXPENDITURE
dc.subject
EXPENDITURES
dc.subject
EXTERNAL BORROWING
dc.subject
EXTERNAL DEBT
dc.subject
EXTERNAL SHOCKS
dc.subject
FINANCES
dc.subject
FINANCIAL CRISIS
dc.subject
FINANCIAL INSTITUTIONS
dc.subject
FINANCIAL INTERMEDIARY
dc.subject
FINANCIAL MANAGEMENT
dc.subject
FINANCIAL MARKET
dc.subject
FINANCIAL MARKETS
dc.subject
FINANCIAL SECTOR LIBERALIZATION
dc.subject
FINANCING NEEDS
dc.subject
FINANCING REQUIREMENTS
dc.subject
FISCAL AUTONOMY
dc.subject
FISCAL CAPACITY
dc.subject
FISCAL CONDITIONS
dc.subject
FISCAL DEFICIT
dc.subject
FISCAL DEFICITS
dc.subject
FISCAL DISCIPLINE
dc.subject
FISCAL LEGISLATION
dc.subject
FISCAL POLICIES
dc.subject
FISCAL POLICY
dc.subject
FISCAL REFORM
dc.subject
FISCAL REFORMS
dc.subject
GOVERNMENT BONDS
dc.subject
GOVERNMENT BORROWING
dc.subject
GOVERNMENT BUDGET
dc.subject
GOVERNMENT DEBT
dc.subject
GOVERNMENT DEFICIT
dc.subject
GOVERNMENT EXPENDITURE
dc.subject
GOVERNMENT FINANCE
dc.subject
GOVERNMENT FINANCES
dc.subject
GOVERNMENT GUARANTEE
dc.subject
GOVERNMENT GUARANTEES
dc.subject
GOVERNMENT SECURITIES
dc.subject
GOVERNMENT SPENDING
dc.subject
GRACE PERIOD
dc.subject
GREATER ACCESS
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
HOUSEHOLD SAVINGS
dc.subject
IMPLICIT SOVEREIGN GUARANTEE
dc.subject
INDEBTEDNESS
dc.subject
INFLATION
dc.subject
INSTITUTIONAL REFORM
dc.subject
INSTITUTIONAL REFORMS
dc.subject
INTEREST BURDEN
dc.subject
INTEREST COSTS
dc.subject
INTEREST PAYMENT
dc.subject
INTEREST PAYMENTS
dc.subject
INTEREST RATES
dc.subject
INTERNATIONAL BANK
dc.subject
ISSUANCE
dc.subject
ISSUANCE OF GUARANTEES
dc.subject
KEY CHALLENGE
dc.subject
LAWS
dc.subject
LENDING POLICY
dc.subject
LIABILITY
dc.subject
LIQUIDITY
dc.subject
LIQUIDITY MANAGEMENT
dc.subject
LOAN
dc.subject
LOAN GUARANTEES
dc.subject
LOAN PROCEEDS
dc.subject
LOANS FROM BANKS
dc.subject
LOCAL GOVERNMENT
dc.subject
LOCAL GOVERNMENTS
dc.subject
MACROECONOMIC MANAGEMENT
dc.subject
MACROECONOMIC POLICIES
dc.subject
MACROECONOMIC STABILIZATION
dc.subject
MARKET ACCESS
dc.subject
MARKET BORROWING
dc.subject
MARKET BORROWINGS
dc.subject
MARKET CONDITIONS
dc.subject
MARKET DEVELOPMENTS
dc.subject
MARKET DISCIPLINE
dc.subject
MARKET INTEREST RATE
dc.subject
MARKET INTEREST RATES
dc.subject
MARKET PARTICIPANTS
dc.subject
MATURITIES
dc.subject
MATURITY
dc.subject
MONETARY FUND
dc.subject
MONETARY POLICY
dc.subject
MORAL HAZARD
dc.subject
MULTILATERAL DEVELOPMENT BANKS
dc.subject
MUNICIPAL BOND
dc.subject
MUNICIPAL BOND MARKET
dc.subject
NEW MARKET
dc.subject
OUTSTANDING DEBT
dc.subject
OVERDRAFT
dc.subject
OVERDRAFT FACILITY
dc.subject
OVERDRAFTS
dc.subject
PAYMENT DEFAULTS
dc.subject
PENSION
dc.subject
PENSIONS
dc.subject
POLITICAL ECONOMY
dc.subject
PORTFOLIO
dc.subject
PORTFOLIOS
dc.subject
PRIVATIZATION
dc.subject
PUBLIC DEBT
dc.subject
PUBLIC ENTERPRISES
dc.subject
PUBLIC FINANCE
dc.subject
PUBLIC INVESTMENTS
dc.subject
RATES OF INTEREST
dc.subject
RECEIPT
dc.subject
RECEIPTS
dc.subject
REDEMPTION
dc.subject
REPAYMENT DISCIPLINE
dc.subject
REPAYMENTS
dc.subject
REPO
dc.subject
REPO RATE
dc.subject
RESERVE
dc.subject
RESERVE BANK
dc.subject
RESERVE BANK OF INDIA
dc.subject
RESERVES
dc.subject
RESOURCE MOBILIZATION
dc.subject
RETIREMENT
dc.subject
RETURNS
dc.subject
REVENUE SHARING
dc.subject
RISK MANAGEMENT
dc.subject
RISK PREMIUMS
dc.subject
RURAL ACCESS
dc.subject
SAVINGS BANK
dc.subject
SAVINGS RATE
dc.subject
SAVINGS SCHEMES
dc.subject
SELF-REGULATION
dc.subject
SETTLEMENT
dc.subject
SHORT-TERM BORROWING
dc.subject
SINKING FUND
dc.subject
SOCIAL SECURITY
dc.subject
SOLVENCY
dc.subject
STATUTORY LIQUIDITY
dc.subject
STATUTORY REQUIREMENTS
dc.subject
STRUCTURAL ADJUSTMENT
dc.subject
STRUCTURAL DEFICITS
dc.subject
SUBNATIONAL DEFICITS
dc.subject
SUBNATIONAL FINANCES
dc.subject
SUBNATIONAL GOVERNMENTS
dc.subject
SUPPLY OF CREDIT
dc.subject
TAX
dc.subject
TAX COMPLIANCE
dc.subject
TAX EXEMPT
dc.subject
TAX RATE
dc.subject
TAX RATES
dc.subject
TAXATION
dc.subject
TERM CREDIT
dc.subject
TERM DEPOSITS
dc.subject
TOTAL DEBT
dc.subject
TRANSPARENCY
dc.subject
TREASURY
dc.subject
TREASURY BILLS
dc.subject
TURNOVER
dc.subject
UNION
dc.subject
WAGES
dc.subject
YIELD SPREADS
dc.title
Managing State Debt and Ensuring Solvency : The Indian Experience
en
okr.date.disclosure
2012-04-01
okr.doctype
Publications & Research :: Policy Research Working Paper
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/2012/04/16231495/managing-state-debt-ensuring-solvency-indian-experience
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/1813-9450-6039
okr.identifier.externaldocumentum
000158349_20120418133916
okr.identifier.internaldocumentum
16231495
okr.identifier.report
WPS6039
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/04/18/000158349_20120418133916/Rendered/PDF/WPS6039.pdf
en
okr.region.administrative
South Asia
okr.region.country
India
okr.region.geographical
South Asia
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Banks and Banking Reform
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Finance and Financial Sector Development :: Access to Finance
okr.topic
Finance and Financial Sector Development :: Bankruptcy and Resolution of Financial Distress
okr.unit
Development Research Group (DECRG)
okr.volume
1 of 1

Show simple item record



This item appears in the following Collection(s)