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COVID-19 Context and the Fifteenth Finance Commission: Balancing Fiscal Need and Macroeconomic Stability

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  • Chakraborty, Pinaki

    (National Institute of Public Finance and Policy)

Abstract

The objective of this paper is to understand the core recommendations of the Fifteenth Finance Commission in the context of COVID-19 pandemic. Given the macroeconomic uncertainties and rising fiscal needs, the commission focused on fiscal stability, equity and enhancement of fiscal space through higher borrowing with a fiscal exit plan for both Union and States.

Suggested Citation

  • Chakraborty, Pinaki, 2021. "COVID-19 Context and the Fifteenth Finance Commission: Balancing Fiscal Need and Macroeconomic Stability," Working Papers 21/351, National Institute of Public Finance and Policy.
    • Handle: RePEc:npf:wpaper:21/351
    Note: Working Paper 351, 2021
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    File URL: https://www.nipfp.org.in/media/medialibrary/2021/08/WP_351_2021.pdf
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    References listed on IDEAS

    as
    1. Damle, Devendra & Gulati, Karan, 2021. "Characterising land and property related litigation at the Delhi High Court," Working Papers 21/349, National Institute of Public Finance and Policy.
    2. Gulati, Karan & Anand, Tushar, 2021. "Inheritance rights of transgender persons in India," Working Papers 21/350, National Institute of Public Finance and Policy.
    3. Jha, Ajay Narayan, 2021. "Continuity with Change: Approach of the Fifteenth Finance Commission," Working Papers 21/342, National Institute of Public Finance and Policy.
    4. Ardanaz, Martín & Cavallo, Eduardo & Izquierdo, Alejandro & Puig, Jorge, 2021. "Growth-friendly fiscal rules? Safeguarding public investment from budget cuts through fiscal rule design," Journal of International Money and Finance, Elsevier, vol. 111(C).
    5. Olivier Blanchard & Alvaro Leandro & Jeromin Zettelmeyer, 2021. "Redesigning EU fiscal rules: from rules to standards," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 36(106), pages 195-236.
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    Cited by:

    1. Kaur, Amandeep & Chakraborty, Lekha S, 2021. "Covid19 and Public Finance for Children: A case study of State of Odisha, India," MPRA Paper 111924, University Library of Munich, Germany.
    2. Patnaik, Ila & Sengupta, Rajeshwari, 2022. "Analyzing India's Exchange Rate Regime," India Policy Forum, National Council of Applied Economic Research, vol. 18(1), pages 53-85.
    3. Datta, Soumya & C. Saratchand, 2021. "On the Macrodynamics of COVID-19 Vaccination," Working Papers 21/352, National Institute of Public Finance and Policy.
    4. Kaur, Amandeep & Chakraborty, Lekha, 2022. "Covid19 and Public Finance for Children: A case study of State of Odisha, India," Working Papers 22/368, National Institute of Public Finance and Policy.

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