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Analysing Union Budget 2022-23: Fiscal Policy and Global Uncertainties

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  • Chakraborty, Lekha S

Abstract

Against the backdrop of mounting geopolitical risks and inflationary pressures, if RBI will hike the policy rates, the growth recovery process may slow down. At the same time, keeping the policy rates status quo for prolonged period could catalyse the de-anchoring of inflationary expectations. The union budget 2022-23 has accommodated high fiscal deficits and has emphasised on “crowding-in” effects of public infrastructure investment. The intensity of global macroeconomic uncertainties on economic recovery in India can be lessened through sustainable fiscal and monetary policy co-ordination.

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  • Chakraborty, Lekha S, 2022. "Analysing Union Budget 2022-23: Fiscal Policy and Global Uncertainties," MPRA Paper 112700, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:112700
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    References listed on IDEAS

    as
    1. Olivier Blanchard, 2019. "Public Debt and Low Interest Rates," American Economic Review, American Economic Association, vol. 109(4), pages 1197-1229, April.
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    3. Hansen, Lars Peter, 2022. "Central banking challenges posed by uncertain climate change and natural disasters," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 1-15.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Budget; Inflation; Fiscal Policy ; Monetary Policy ; Green Bonds ; Global Uncertainties;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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