Fiscal Credibility During Poll Years
Historical precedents do not support the popular belief that governments turn profligate in poll years.
About a month ago, our annual publication detailing the FY2018/19 budgets of 20 states has revealed that the real fiscal spending (by the Centre and states) is estimated to grow at 6.6 per cent in the current financial year, the slowest pace in four years and much lower than the approximate 11 per cent in FY2015/16. The conclusion has been based
