The present paper discusses the fiscal consolidation process under the FRBM/FRLs Acts at the State level. It finds that up to 2007-08, under the rule based framework, State Government was capable to recover from the severe fiscal stress experienced during mid/late nineties and early phase of present decade. The high growth rate leading to improved revenue buoyancy and growth dividend played a significant role in the improvement of deficit indicators. At the same time, the paper also describe that despite the significant fiscal corrections at States level, the fiscal consolidation process remained insufficient on several fronts. The need for designing appropriate post FRBM/FRL fiscal architecture to carry forward the process of fiscal correction and consolidate the gains, the paper further suggests some elements of future design of the fiscal architecture for deliberation and consideration. Keywords: Women empowerment, Political participation, Panchayati Raj, India
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FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT AND FISCAL CONSOLIDATION IN INDIA (Pages 58-65) by Ms. Pushpa Choudhary in THE INTERNATIONAL MANAGER / ISSN: 2348-9413 (Online); 2348-9405 (Print)
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