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Fiscal Consolidation and Macroeconomic Variables in India: A Cointegration Analysis
VISION Journal of Indian Taxation
Fiscal consolidation is in the forefront of policy discussion in India since 1990s. But the debate on fiscal consolidation and its real effects has been unable to attain any culmination so far on analytical as well as empirical grounds. The present paper tries to examine the impact of fiscal consolidation on growth, inflation, private investment, and exchange rate in India by analysing a time series data for the period from 1980-81 to 2013-14. The paper observes that there exists a long rundoi:10.17492/vision.v4i02.11780 fatcat:a3rbnv274vdh7kwzdkao2zav7e