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Publisher: Arihant Publications India limited

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India
India

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2000-11-01

Total Pages: 113

ISBN-13: 1451818548

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The Indian economy has recovered strongly. The government's poverty alleviation programs have focused on generation of employment in rural areas. The overall deficit of the consolidated public sector has risen sharply in recent years, erasing most of the consolidation that was achieved during the first half of the 1990s. The paper discusses the monetary and financial market developments, reforms and performance, external sector, trade policy, and structural policy developments in India. The new government has taken a number of initiatives committed to structural reform.

Assessing External Sustainability in India
Assessing External Sustainability in India

Author: Mr.Tim Callen

Publisher: International Monetary Fund

Published: 1999-12-01

Total Pages: 31

ISBN-13: 1451859171

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This paper examines the solvency and sustainability of India’s external imbalances and analyzes the optimality of its capital flows. We use three approaches: an intertemporal model of the current account that allows for capital controls; a composite model of macroeconomic indicators that yields probabilities of future balance of payments crises; and scenarios that examine the path of the current account consistent with the stabilization of India’s external liability-to-GDP ratio. The results indicate that India’s intertemporal budget constraint is satisfied and that the path of its current account imbalances is sustainable, with some support for the optimality (given capital controls) of its external borrowing.