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Promises to Keep and Miles to Go...?

Mala Lalvani
Economic and Political Weekly
Vol. 40, No. 17 (Apr. 23-29, 2005), pp. 1675-1679
Stable URL: http://www.jstor.org/stable/4416520
Page Count: 5
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Promises to Keep and Miles to Go...?
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Abstract

The outlays from the centre to the states as a consequence of the Twelfth Finance Commission recommendations do not justify it being labelled as the cause for the union budget 'pressing the pause button' on the FRBM target. Without institutions and rules in place for states to avail of loans from the market, this recommendation of the TFC, which is based on sound economic logic, may actually backfire and take its toll on state finances and future growth. Also, no tough decisions have been taken to curb the burgeoning subsidy bill; no significant effort to curb the growing revenue expenditures and across the board cut in capital expenditures are some other counts on which the budget 2005-06 has disappointed.

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