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India’s National Food Security Bill: Its Budgetary Implications - Il Food Security Bill indiano: implicazioni di bilancio

Author

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  • Roy, Kartik Chandra

    (Department of Economics, The University of Queensland Brisbane, Queensland)

Abstract

In the light of comments made by economists and other commentators that India cannot afford an additional subsidy payment of Rs. 1247 Billion per year to implement the National Food Security Programme, in this paper an attempt has been made to examine the prudential character of India’s budgetary management to ascertain whether the budgetary management is robust enough to be able to absorb this additional cost to the exchequer without serious attendant monetary and fiscal consequences. Our examination of several features of India’s budgetary as well as of fiscal and monetary trends reveal that the share of Public Sector Borrowing Requirements (PSBR) in India’s GDP rose to a high of 5.2 percent in 2009-10. Measures needed to reduce the size of the current account deficit and that of the revenue deficit have been analysed in this paper. However, results of a number of tests to determine the robustness of India’s budgetary management make a very discouraging reading. - In considerazione dei commenti degli economisti e di altri addetti ai lavori circa l’impossibilità da parte dell’India di sostenere il pagamento di altri 1247 miliardi di rupie all’anno per l’applicazione del programma di sicurezza alimentare nazionale, questo studio individua un orientamento prudenziale nella gestione del bilancio indiano al fine di valutare se è possibile sopportare questo costo addizionale, senza creare serie conseguenze monetarie e fiscali. Abbiamo esaminato diverse caratteristiche del bilancio indiano e delle tendenze monetarie e fiscali e i risultati indicano che la quota del Public Sector Borrowing Requirements del PIL dell’India è salito al 5,2% nel periodo 2009-2010. Abbiamo anche analizzato le misure necessarie per ridurre il deficit di parte corrente e il deficit totale. I risultati dei numerosi test effettuati per accertare la robustezza della gestione di bilancio dell’India sono molto scoraggianti.

Suggested Citation

  • Roy, Kartik Chandra, 2015. "India’s National Food Security Bill: Its Budgetary Implications - Il Food Security Bill indiano: implicazioni di bilancio," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 68(2), pages 259-273.
    • Handle: RePEc:ris:ecoint:0754
    as

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    References listed on IDEAS

    as
    1. Kartik Roy & Hans Blomqvist & Cal Clark, 2012. "Economic Development in China, India and East Asia," Books, Edward Elgar Publishing, number 13028.
    2. World Bank, 2012. "World Development Indicators 2012," World Bank Publications - Books, The World Bank Group, number 6014.
    3. Roy, Kartik Chandra, 1991. "Public Sector Performance and Managerial Ef¬ficiency under Planned Development: India’s Experience," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 44(2-3), pages 254-268.
    4. World Bank, 2014. "World Development Indicators 2014," World Bank Publications - Books, The World Bank Group, number 18237.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    National Food Security; Herd Mentality; Federal Budget; Revenue Deficit; Operational Deficit; Primary Balance; Real Interest Rate; Corporate Saving and Investment; Price Index; Subsidy and Prudentiality Test;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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